Should You listen to Money advice from Friends?

It’s always a gamble to seek advice from “just” friends, as they maybe or may not be our well-wishers in reality. Also, money has a different way of being divisive in our society & otherwise. So, even after being a ridiculously important part of our daily lives, it’s quite a taboo as well! This perception makes it even more important to take money seriously & discuss it to the right set of people.

Generally, people avoid talking about their salaries out of superstition. Specially, they stay away from discussing their debts in detail, and most importantly they just don’t want to know how amazing you’re at money management. This is probably the most embarrassing thing for them.

3 Main Things you Can do if your Friends can lend you Money advise

Friendships are more Priceless than Personal Finance

Understand that friendships are more priceless than personal finance and you can always put on the socket whenever essentially required.

Not every friend has been ingrained with money teachings and so they tend to learn with experiences They’re just adults. Several avenues provide the opportunity to lend an understanding.

You’re open to take offense when engaged in a conversation about money & come across a dialogue you don’t like.

Of-course, you cannot ruin your friendship over money matters. Emotional bonds must be put way above money!

Listen 100% more than you Speak

To speak less is just good life advice but amidst money conversation this is a great skill. An experience with thousands of people reveals that people like to vent/bounce ideas without genuinely trying to help. They wouldn’t speak about anything which gets them judged in return.

You may really want to know how your friends handle their money, but its intelligent to hear them out initially. Do not expect their advice to be hard and fast!

Since you may be seeking advice due to failed financial investments, you may take their learned recommendation in a different sense.

Punt the Responsibility to a Pro

After having a heated financial conversation, it’s likely to end up on a harsh note. This can also land us in an emotionally damaged friendship. This could be the likely us when you do not receive your friend’s advice nicely.

You my disgust someone so much that they start sending threatening messages using different social platforms to mentally harass you.

It’s best to hear everyone out and reserve brutal comments for later. The best advice is to stay within your financial boundaries & get a personal loan at max! Home Credit Loan is suitable for all day-to-day spending with offered amount between Rs.25,000 to Rs.2,00,000.

If you don’t want to get into dirty talks by discussing debt & investments, then it’s good to an established personal finance advisor and then do the beating instead.

A certain degree of separation is important for productive money conversations a lot of the time.

Also remember that if you’re talking to your best friends, you still may receive some gratification. However, when you’re sitting down with ‘just’ friends, the equation goes for a toss, literally. Don’t stress it enough yet. Money can ruin lifelong friendships & relationships in just a blink of an eye. Having said it all, sharing is caring, so suit yourself first!