Experts say money chat among friends shouldn’t be awkward

Non-profit organisation, the Soul City Institute, is urging young people to break the silence around money matters with their friends in order to cultivate stronger and safer spaces.

According to the institute, some of the contributing factors to secrecy around money is background as some cultures treat money as a private topic, which makes it difficult for people to speak up when they’re uncomfortable about opening their purse more.

The social justice organisation’s remarks follow a recent debate on some friendships having ended because others didn’t want to split the bill with their friends, especially when they’ve had a set budget for that particular outing.

The similar story also sometimes plays out when individuals were asked to contribute more money than they had planned for events like bridal and/or baby showers as well as farewell parties.

Soul City Institute Communications Officer, Akona Zibonti, says young people should have more frank conversations about finances with their friends to avoid awkward situations.

Zibonti believes that money and communication are deeply connected and when honest and clear conversations over finances aren’t had, people get hurt.

She’s shared some tips that young people can implement in their lives to avoid compromising their financial well-being at the expense of others.

Youth health non-profit organisation, LoveLife’s senior counsellor, Malebo Makgaka, has echoed Zibonti’s sentiments on the importance of transparency.

Makgaka urges young people to also not look at people differently if they have less money than them.

She’s also dished some tips on how financial conflicts can be avoided.