![]() Vox spoke to four experts to help you navigate money talk with your inner circle. However, money expectations among friends can be easily managed with a few transparent conversations and flexibility. On top of ordinary life shifts, the pandemic has resulted in job and income loss and serious debt. “That affects what the financial norms are between friend groups,” Clayman says. High school and college graduation, a promotion at work, a layoff or loss of a job, marriage, the birth of a child - these are milestones that can drastically change people’s financial situations. According to a 2021 survey from Insider, people would rather talk about current events, politics, and relationships before discussing money with their friends.įinancial tensions in friendships are likely to pop up amid life transitions, says financial therapist Amanda Clayman. A 2018 Credit Karma/Qualtrics survey found nearly 40 percent of millennials spent money they didn’t have and went into debt to keep up with peers. ![]() Nearly half of millennial and Gen Z respondents in a 2017 PayPal survey cited money as impacting a friendship. If you make less than your friends, you may feel less-than make more and you risk taking on too many financial favors or coming across as out of touch. Money is a touchy subject in relationships - even in friendships.
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