CHICAGO — The author of “Broke Millennial Talks Money” shared tips for how to talk about finances with friends.

“Broke Millennial Talks Money: Scripts, Stories, and Advice to Navigate Awkward Financial Conversation” is available wherever books are sold.

Erin Lowry shared these five tips for navigating awkward financial conversations with friends:

  • Share your reason for why you’re saying no: Give your friends a reason for why you’re saying no to an invitation instead of just constantly declining.
  • Provide a counter offer: If you need to say no to a proposed plan, but still want to see your friends, you can provide a counter offer. This is a much more palatable way to say no because you’re offering up a solution
  • Don’t let your friend keep picking up the tab: If your friend — or family member —knows they outearn you, then they might keep offering to pay. Eventually, this can lead to resentments on both sides. Be open.
  • Have a friend fund: Set aside a little each paycheck into a savings account so you can say yes, sometimes. You can also use the counteroffer strategy to suggest an option in your budget!
  • It’s okay to spend, even when you have debt: The spending needs to be within reason, but deprivation isn’t a healthy, long-term strategy. It’s okay to live life and have some modest indulgences while paying off debt.

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