Scots scramble at the thought of hopping on a plane or just escaping the four walls of lockdown life, but money is a tricky business – especially among friends.
It may seem like there isn’t a good time to raise money, and it can result in friends owing each other or worse, one person spending more than the rest.
It is important to establish this type of conversation as the norm in relationships because ultimately, good communication about money matters is critical to your health and happiness.
If something is bothering you or you are struggling with your expenses, then it’s important to share it.
MoneySuperMarket highlighted some of the most common situations of worrying about money and they have provided some advice on how to deal with them.
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Don’t leave all of the planning and financial burden to one person
Pool money
They say organized activities help you relax and enjoy your break instead of feeling unnecessary panic or stress, and suggested using apps like PayPal Money Pool or Collection Pot Online Kitty.
They added, “From booking your first trip and securing it, to paying a deposit, and paying on time as you count the days to go, if you are responsible for booking the trip, make sure you don’t Be left out Unfortunately, weak friends can tend to drop out at the last minute.
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Pay by credit card
This advice is for anyone making a payment, and the experts say, “Booking travel with a credit card is recommended and is especially important if you are in a situation where you are not getting the promised or expected service.
“This means that under Section 75 of the Consumer Credit Act you can claim monetary value in excess of £ 100 up to a value of up to £ 30,000.”
Budget for every day
Each member of the Christmas party can have a different budget. To keep it fair, the experts suggest planning a budget for each day and asking everyone to contribute equal amounts.
They also suggest involving more than one person so that responsibilities are even.
They say, “You might even suggest starting a kitten or starting a hedge if you all have a digital bank or app to do it with.
“This works well because you can all contribute an equal amount to the pool or donate an amount that you are comfortable with. Budgeting for each day by forecasting what you can afford when you go exploring will be You also have a clear idea of how much money is left in your vacation budget. “
What to do if you loan someone money on vacation and they don’t pay you back?
This is a very uncomfortable situation, but the experts have some advice: “Firstly, by assuming good intentions and politely reminding them of the money they did not return you. It is important not to get upset as people get very caught can be. ” in their own business and become forgetful.
“When in doubt, admit to the person and approach them with a neutral tone. But if you have had to ask a few times and this is unsolved, then it is important to call out to them and acknowledge that this is going to be ‘a thing’. Setting repayment targets or deadlines for installment payments can also be helpful, but communicating directly and clearly is key. “
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