Dealing with money tensions between friends, and between partners
Details
Unfortunately, I couldn't find a good video on the subject, so you'll have to read my poor prose:
There was a good article in the Wall St. Journal about dealing with money tensions between friends.
The Journal brought up the following:
Don’t focus on the money
The friendship was hopefully created because of common interests, activities and a shared emotional bond.
Redefine reciprocity
Does a monetary transaction always have to be responded to in kind? What are some other ways?
Respect boundaries
What kind of formal, or informal limits should be agreed to? Does paying for hard-to-get concert tickets equal to a private jet to the Bahamas?
Be sensitive to their sore spots
What is the case for not bringing up certain subject?
Don’t judge
Not judging can also mean not being envious. :)
Talk about the tensions
Have you done so with a friend? What was the result?
Unfortunately, “not talking about the money” with a partner, rather than a friend an cause real problems.
What questions might you ask about your friend’s (or partner’s) money history, for example, what their parents taught them?
Money personalities- how can spenders and savers still be good friends when they want to do things together?
