Written by: Aquib Nawab
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Friendship
Creating clear financial boundaries from the start prevents future awkwardness. Discuss expectations about splitting bills, group activities, and shared expenses openly.
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When planning activities, be mindful of everyone's financial situation. Propose affordable options like home-cooked dinners, free local events, or outdoor activities.
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Use apps like Splitwise to track shared expenses. Consider proportional splitting based on income when appropriate. Remember that fair doesn't always mean equal – context and circumstances matter.
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Set clear terms if lending money to friends. Write down the agreement, including repayment schedule. Better yet, avoid lending large sums to preserve the friendship from potential strain.
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Take turns organizing events within everyone's budget. Mix free activities with occasional splurges. Consider rotating who hosts dinner parties instead of always eating out.
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Be honest about your own limits without apologizing. It's okay to say "That's not in my budget right now" or suggest alternatives. True friends will understand and respect your boundaries.
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Set expectations for birthdays and holidays. Consider group gifts for special occasions or agree on spending limits. Focus on thoughtfulness rather than monetary value.
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Remember that everyone's financial journey is different. Avoid judgment about spending habits or lifestyle choices. Focus on maintaining the friendship beyond monetary aspects.
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