In today’s grim economy, chances are you and some of your closest friends are going in opposite financial directions. It can be tricky to maintain your closest friendships when you can’t enjoy the same restaurants, hobbies or social events.
Susan Swimmer, features editor at More Magazine, talked to TODAY about tips for navigating friendships when you're on a budget.
If you are the friend with deeper pockets, be considerate and put yourself in your friend’s shoes. Avoid talking about your swank vacation home or your spouse’s huge promotion unless you are certain your friends will share in your excitement.
If you are the friend with an increasingly limited budget, Swimmer suggests:
Talk about it: Be up front about what you can and cannot spend. If a friend suggests a restaurant that's too expensive, have another suggestion at the ready. Your friends are there to provide support and understanding, and they will if you're honest.
Set limits for yourself: Only you alone can say how much is too much. Decide in advance what you can spend, and stick to it.
Don't cry poor: There are a lot of ways to enjoy friends that don't cost a lot of money, so don't blame lack of fun on lack of funds! Friendship is about the connection — which can happen while you're taking a walk in the park, going to an exhibit, meeting for coffee instead of a meal.
Don't keep score: If your friend wants to host a birthday party for herself and spends a fortune, that's her choice and you can go and enjoy it. When it's your turn to celebrate your own birthday, do what works for you and your budget.
Accept generosity, with a smile: If a friend wants to treat you and it feels right, let them treat you! You can be clear and say "That's so nice of you. You know I wouldn't be able to reciprocate but thank you for the treat." And then leave it at that.
Readers: Have you found yourself in an awkward situation with a friend in different financial shape? How are you handling it? Share your tips below.