Money is an extremely sensitive subject to talk about because of the shame and judgement that comes from it, but there are ways to manage different incomes in a friend circle. PennyGem’s Johana Restrepo has more.
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00:00Everyone in a group of friends has different budgets.
00:06Money is an extremely sensitive subject to talk about because of the shame and judgment that comes from it.
00:12But there are ways to manage different incomes in a friend circle.
00:16If you're the friend with a bit less money,
00:18NerdWallet recommends that you think of experiences you want to invest in and those you'd rather skip.
00:24Maybe you'd rather eat at home and pay for a concert instead.
00:27Having a clear idea of this will help you accept some invitations and decline others with confidence.
00:34You can also plan more affordable gatherings like hosting a potluck or going for a walk or a bike ride.
00:41If you're the friend with more money,
00:43Be compassionate when your friend says they can't make it or if they straight up tell you they can't afford it.
00:49These conversations do get easier as you open up with each other.
00:53CNBC points out that being open about finances with your friends can be empowering and will hold you accountable to meet your goals.
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