![]() Or if it's a girls' weekend getaway, you can offer to find and negotiate the best deals on behalf of the whole group. If it's a post-work drink, for example, you can suggest a bar with a great happy hour. By doing this, you can make sure to include budget-friendly options and bring up important points like choosing activities that are fun and accessible for everyone. When and where it's appropriate, get involved in the planning process. ![]() Is it having you at the bachelorette party? Having you stand beside her in a bridesmaid dress on the big day? Or something else? Once you've both clearly communicated your expectations, it’s much easier to say, "I’m sorry, that's not in my budget," when additional expenses start to creep in. Once you've calculated how much you can afford to spend, you can ask the bride what her top priorities are. ![]() Let's use being a bridesmaid as an example. When it comes to social situations-whether it's going out to dinner with a large group or being a bridesmaid in a bestie's wedding-the best policy is to be straightforward and set expectations in advance. Set expectations around social spending in advance As you have this conversation with your friend, you can find the overlap between what he or she is planning and what you can afford to partake in. Once you know what you can afford to spend, reframe the conversation around that, rather than making it about what you can't afford. If you're in a position where a friend is demanding a lot from you financially, take a moment to step back and run the actual numbers. Reframe money conversations around what you can afford to do Chances are your friends are feeling a lot of the same financial stress you are, so talking about it can actually help everyone. Instead of suppressing those feelings, consider initiating conversations. Even when the expectations of those we love are out of alignment with our own-leading to stress, resentment, and sometimes debt. The thing is, we rarely talk about those financial expectations. And we each have our own set expectations around them. ![]() Going out, giving gifts, celebrating major milestones like marriage-all of these things have financial implications. Money is already part of our social lives. What should really make us uncomfortable is the idea of going into debt simply to avoid some social awkwardness or to keep up appearances. I’m not going to pretend that you won’t feel awkward having conversations with your friends about money, but that doesn’t mean those conversations are not worth having. Here, O'Connell shares a few more ways to make money conversations with friends pain-free. Each situation presents its own unique set of problems, which Barry and financial expert Stefanie O'Connell explored on the episode. One feels like she has the least disposable income in her friend group, while the other is at a point in her life where she has more than most in her circle. The guests on this week's episode-"Friends With Money-And Friends Without"-have two wildly different financial situations. But somehow, even though we've all been there, it feels awkward to talk about financial situations with friends and loved ones.
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