How To Talk To Your Friends About Money
THE DILEMMA: I lent my friend $200 and they haven’t paid me back
The Solution:
No matter how frustrating this feels, take heart from the fact it’s a very common scenario.
Nearly a third of adults say they’ve argued with friends about money, according to a UK poll, with lending it the main cause. “Ask yourself – do you want the money in that moment or would you just like it if they acknowledged the situation?” (Profile Books, $22.99). Sometimes, just knowing they haven’t forgotten can help you feel better; ask them if it’s OK for you to remind them in a month and follow up then. But if it really is about the money and your resentment is starting to damage the friendship, speak up. “If you don’t ask them, it will just play on your mind and affect your relationship,” Holder adds. If they can’t afford to pay you back, work with them to come up with a repayment plan. Start by asking: “Would $20 a month be easier, rather than the full amount in one go? I’ll send you my bank details again, just in case you don’t have them.” Or, ask for the money in a text message with your bank details attached. “Try to make it as easy as possible for them to pay you back,” adds Holder.
