Navigating Friendship and Finance

Hannah Sherman, JWI Intern

When I think of friendship, the two images that immediately come to my mind are the Golden Girls theme song and this scene from Bridesmaids. While friendship can be a beautiful thing, there are certain perils that come along with it, most notably when it comes to spending habits.

A recent article outlined the different categories of friends and the ways they subtly impact the way we spend our money. From the enabler, to the one-upper, to the moocher, the article details how to deal with these “financial frenemies” while taking control of our own spending habits. While friends may make the best shopping partners, we must be aware of our own set budgets and stick to them; in the end who has to pay the credit card bills?

Equipped with the knowledge of how to “neutralize” these friends, hopefully women will feel more confident in putting a barrier between friends and finances. As much as we may wish to have the stereotypical shopping movie montage moment with our friends (accompanied by some great 90s music), it is imperative to remain aware of our own unique budgets. While we may value our peers’ opinions and love hearing the encouragement of how great we look in that pair of jeans, we must realize the importance of spending our money the way we deem fit. Instead of encouraging our friends to buy the most expensive pair of shoes in the store, maybe we can help each other by creating reasonable shopping budgets. Now that’s what friends are for.

Additional Resources:
Please click here for more information on how women in particular are affected by financial decisions and money.

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