Tips on financial etiquette
Touch is the hardest thing to maintain, when it comes to matters of money. Here are some tips from experts in financial etiquette on the best way to deal with difficult situations. In a restaurant, your friends suggest dividing the cost of food evenly, but your meal costs less. Spread the account evenly is probably the best way to handle this situation if you are dealing with people with whom you do not have frequent contact.
The same thing happens if you have regular lunches with friends and the price of your food is usually almost the same as theirs. You do not want to be the person who is taking out the calculator. It is okay to ask your waiter for a separate bill before lunch if you often go out to eat with people who tend to order more expensive foods and drinks.
In fact, your table companions will appreciate being able to ask for everything they want without feeling like an imposition.
You are asked to contribute to a group gift in the office, but you do not get along with that person. You are not under any obligation to participate or explain your reasons for declining the request. The organizer should not press him. Talk to your trusted colleagues if requests for money in the office become overwhelming.
Most likely, they feel the same way. In that case, you might suggest modifying the practice instead of eliminating it. Such as holding an office party once a year instead of buying a gift or going out to lunch every time a classmate has a special occasion.
A friend asks you to support your favorite cause, but you prefer to choose your own charitable activities. Saying ‘no’ politely is an acceptable response. You can explain to your friend the reason, but it is not necessary. However, be diplomatic. If you are rejecting him because he does not like charity, do not speak ill of a cause that is obviously important to the person.
Soften your response by congratulating your friend, telling him that you admire his generosity. In addition, keep in mind that if that person has donated to their causes in the past, there is an expectation that their contribution will be a little higher.
A family member asks for a payday loan, but you do not feel comfortable giving a loan. Most likely, whoever applies for the loan feels just as uncomfortable you? You are probably the last resort, and nobody wants to do it. Be understanding by saying ‘no’, and do not lie about your reasons. For example, do not say that you do not lend money when you have done it in the past. For example, you can offer to be a work reference.
However, avoid signing a loan, especially if you have doubts about the borrower’s ability to pay. If the person does not pay the loan, it is likely that you have to pay it and this can affect your finances. However, if you lend money to someone, you must put the agreement in writing with explicit terms, such as interest and due dates.