Episode Summary:
In this episode, we answer your money etiquette questions and share specific scripts you can use during tricky money conversations. Talking about money with friends and family can be awkward, but we encourage you to train the muscle of being open and honest, and it will get easier over time. We encourage you to speak up and be firm when it’s necessary, but also choose your battles and know when to let things go.
Episode Notes:
We asked you for money etiquette discussion and situations, and you all delivered! We discuss the following etiquette questions and situations you all shared with us on Instagram:
- Someone asks you to pay for something and says they’ll pay you back, but it’s been weeks or months.
- Feeling pressure to donate money at work for numerous wedding/baby gifts.
- A shared AirBNB, and I can afford or prefer a nicer place and am willing to pay more.
- Extended family vacations. Some families can’t afford the trip. How can we best handle this? Same for friends’ trips with multiple families. Is it OK for some to contribute more/less to the trip?
- Ugh, the never-ending dance of itemizing the restaurant bill or splitting it evenly??
- Splitting the bill at big group dinners when you didn’t order as much as everyone else.
- Gift Giving! How to navigate wanting to give simpler gifts when another person gives expensive gifts?
- How much to spend on wedding gifts, especially when invited without a plus 1.
- Paying for your own plate at a awedding / wedding money gifts?
- What do you buy for someone that has so much more than you do?
- How to tip guys at a hotel or airport taxi stand who hail a taxi for you.
- When holiday gifts are “in budget” but don’t look like enough quantitatively?
- How to handle a friend that always asks about your finances but never shares theirs?
- Is it polite to talk about maxing out accounts if you don’t know for sure if the other person is able to? Or is knowledge power?
- Family asking to borrow money and will pay it back on payday (in a few days) then you have to chase for it.
Top 3 takeaways:
- Money can be an awkward topic for everyone. We all face situations where we need to improve our muscle of being open and honest about money with our friends and family.
- You do you!
- Be kind and honest.
Show References: