One of the best parts of this community is how open we are with one another about what’s taking place in our wallets. You all have helped me think more deeply about my own financial decisions, and I’m so grateful.
Curious — how open are you with your friends about your finances? Do you share your salary, debt or financial goals? Why or why not? For those of you who are achieving major financial goals (e.g. paying off student loan debt, increasing income), are you finding that you share more now or less? Do you try to share what you’ve learned about money with friends?
I don’t talk too much about money with my friends. When I talk about money with friends it’s always more vague, not usually specific amounts. But I certainly think it would be helpful to be more open about money with my friends.
I talk to my sister, my daughter, and husband only about savings and money. My daughter is a paid contractor for remodeling our home, so we discuss cost, etc. I don’t talk money to friends, as to me it is not their business. I don’t talk money to a lot of people, as it is in poor taste. I know people who are celebrities, or in highly paid professions who are millionaires. I know people who struggle with money and savings, and I may mention Dave Ramsey as a resource only to assist them with good financial health.
I have started talking about money with friends and family. After a divorce, cancer, and bankruptcy in the same year, i was proud of progress I made. Also, I feel like it’s important to break some negative stereotypes- I’m a single mother with a great human service job and a masters degree- and I’m receiving some form of welfare. I hear people speak despairingly about’ welfare moms’ and I have to speak up! This inevitably leads to a discussion about money. I’ve become more comfortable talking about it.
in my job, working with people with low income, money is a primary topic of conversation. I find it useful to use my own experiences to stimulate discussion and ideas.
We don’t talk specifics, but we all kind of know each other’s money situation. I have a good steady job that pays well and has good perks, but also have four kids so money is sometimes pretty tight.
I have two best friends: “D” is single with no kids and makes more than I do, has a nice car and several bicycles upwards of several thousand each, he can generally buy what he pleases. “R” is single with no kids, has never had a steady job for more than a year or two, and they are usually menial low paying. He constantly has money problems and can’t usually afford much.
However, none of this stops us from getting together and having a good time
I’ve gotten my mom more comfortable talking about money as she is from the generation where they didn’t talk about money. My friends know that I am debt free and almost done paying off my house as that is a huge goal and very important to me, plus I will celebrate with them when it is finally paid off. We all have different types of jobs and circumstances, but money is an easy topic with us because we are friends no matter what our income level is. So we are able to laugh or commiserate with each other a lot over money.
I do not discuss finances with family and friends. Too many people think that they should try to hit us up for money as it is. We have had theft within the family.
Oh AnnieB, that’s awful. I cant imagine how hurtful it is that a family member feels like they need to steal from within the family. Entitlement? Resentful? Regardless, thats low.
Said person decided to steal from funeral proceeds raised to help supplement what I was paying out of pocket. I have no contact with them now. I have since moved, they have not been told, and will never be welcome in my home.
I don’t discuss finances with friends either except in general terms. For example I mentioned to a co-worker that I have been accepting extra shifts for overtime as I am trying to pay down debt (mortgage and car loan).
I talk to a neighbor-who is a friend-she is full of advice on how to save money, specifically on home repairs. She has contacts that have paid off well and she shares the info including prices for services, sometimes we have used these contacts. As for other finances, it is don’t ask, this is considered private. If the info is shared by her, then it is shared with my husband.
For other friends that I have a common event with, we share things like ticket information and what is included in the event, like splitting a bill for dinner out.
