Money may make the world go round, but it can also make for some awkward social situations. Whether it’s your best friend who’s always a little short on cash when the check comes, a relative who expects freebies and handouts, or a roommate who doesn’t get that bills have a due date, you’ve probably found yourself having to broach the potentially uncomfortable topic of money. And if you’re like many people, you may have found yourself dancing around the issue rather than confronting it head on.
“It is such a loaded conversation, and there is so much subtext and hidden meaning wrapped up in money,” Daniel Crosby, a behavioral finance expert, told Reuters. “Money is shorthand for happiness, power, and personal efficacy, so it can be very scary.”
Anxiety related to talking about money may be why you find yourself picking up your friend’s bar tab (again), loaning money to a spendthrift relative when you can’t afford it, or whipping out your credit card when it comes time to pay for a way-over-budget bachelor party weekend. Those moves may allow you to skirt some potentially awkward chats about money, but they’re likely to do damage to your finances and your relationships over time.
The next time you find yourself in an awkward money situation, don’t let fear take over. Instead, consider these tips for getting out of four sticky financial scenarios.
