• Skip to main content
  • Skip to primary sidebar

Ask Liz Weston

Get smart with your money

  • About
  • Liz’s Books
  • Speaking
  • Disclosure
  • Contact

friends and money

Monday’s need-to-know money news

April 20, 2020 By Liz Weston

Today’s top story: Cancel your travel credit card due to Coronavirus? Ask for a retention offer first. Also in the news: What to do when a family member or friend needs money, and before opening a new credit line, check for this restriction.

Cancel Your Travel Credit Card Due to Coronavirus? Ask for a Retention Offer First
Banks don’t want to lose your business.

A Friend or Family Member Needs Money. What Do You Do?
Things to consider before writing that check.

Should College Savers Opt for Student Loans This Fall?
Interest rates have plummeted.

Before Opening a New Credit Line, Check for This Restriction
One word: Iowa.

Filed Under: Liz's Blog Tagged With: Coronavirus, Credit Cards, credit lines, family and money, friends and money, Student Loans, travel cards

Monday’s need-to-know money news

March 23, 2020 By Liz Weston

Today’s top story: You can now pause 2 student loan payments. But should you? Also in the news: A new episode of the SmartMoney podcast on the coronavirus, why you should be the friend who talks about money, and how long you should keep your tax documents.

You Can Now Pause 2 Student Loan Payments, But Should You?
Is it really worth it?

SmartMoney podcast: Coronavirus edition
How the virus impacts your money.

Be the Friend Who Talks About Money
Tough conversations that are worth having.

How Long Should You Keep Your Tax Documents?
Make copies of everything.

Filed Under: Liz's Blog Tagged With: Coronavirus, friends and money, SmartMoney podcast, student loan payments, tax documents

Thursday’s need-to-know money news

August 29, 2019 By Liz Weston

Today’s top story: How to bypass ATM fees while you’re on the road. Also in the news: Protecting your digital privacy after you die, 4 smart ways to split bills with friends while traveling abroad, and as the school year begins, beware of hackers.

How to Bypass ATM Fees While You’re on the Road
A little research could save you some bucks.

Who Gets Your Digital Assets: Heirs or Hackers?
Protecting your privacy after you die.

4 Smart Ways to Split Bills With Friends While Traveling Abroad
No need to make it awkward.

As the school year begins, beware of hackers
Hackers are especially targeting college students.

Filed Under: Liz's Blog Tagged With: ATM fees, digital assets, digital privacy, friends and money, hackers, splitting the bill, traveling

Q&A: Stop judging that overspending friend

March 11, 2019 By Liz Weston

Dear Liz: My friend is not good with money. He has always lived above his means. He lived in a fancy apartment, leases a BMW and goes out to eat often. To make matters worse, he lost his job a year ago and had to move in with a mutual friend. He continues to spend money he doesn’t have. I tried to help him with his finances and setting a budget, but he lost interest after one conversation. He’s 41 with no savings and more than $10,000 in credit card debt.

My question: Should I feel guilty about inviting him to things? When he was unemployed, I suggested doing things that don’t cost money, but he never seemed interested. I’m planning a trip for my 40th birthday and I’d like to invite him, but I don’t think he has the self-control to say, “No, I can’t go, I can’t afford it” because it will add $2,000 or more to his debt. How do you deal with someone when you’re more concerned with his financial well-being than he is?

Answer: You let go of the idea that you’re responsible for another person’s behavior.

Financial planners often encounter clients who, despite the planners’ best efforts, sail blissfully on toward economic disaster. And those clients paid for the advice that could save them. You’re not being paid. Your friend may not have even asked for your help. So you can stop offering it.

This will be hard for you. You understand how important it is to avoid credit card debt and save for the future. You may be thinking that if you could come up with the right words, you could persuade him to change his ways. Give up that fantasy, because he won’t change — if he ever does — one second before he’s ready.

There are a number of things you can do to prepare for that moment, if it ever comes. The first is to let go of any judgmental attitudes and feelings you might have about his situation. He may already feel a lot of shame about his circumstances. Even if he doesn’t, he’s unlikely to seek you out if he feels judged and blamed.

The next is to look for other resources that might help him, such as a financial counselor or coach. You can get referrals from the Assn. for Financial Counseling & Planning Education. He may find it easier to work with a professional than a friend.

Finally, resist the urge to offer opinions or observations about his situation. He knows you’re there to help if he ever wants it, so wait to be asked.

Filed Under: Credit & Debt, Q&A Tagged With: debt, friends and money, q&a

Friday’s need-to-know money news

June 29, 2018 By Liz Weston

Today’s top story: Student loan interest rates go up July 1st. Also in the news: Chase rolls out an all-mobile banking app, 5 ways your friendships can blossom on a budget, and how to make living with your parents pay off.

Student Loan Interest Rates Go Up July 1
Prepare for an increase.

Chase Rolls Out All-Mobile Banking App. Is It for You?
All of your banking done on your phone.

5 Ways Your Friendships Can Blossom on a Budget
Don’t let student loans cramp your style.

How to Make Living With Your Parents Pay Off Financially
Start building your savings.

Filed Under: Liz's Blog Tagged With: Chase, friends and money, interest rates, living with parents, mobile banking, Student Loans

Thursday’s need-to-know money news

March 15, 2018 By Liz Weston

Today’s top story: Don’t let your friends derail your finances. Also in the news: Protecting your EIF investments, how to fly with your baby, and why retailers are tracking your returns.

Don’t Let Friends Derail Your Finances
How to stay on track and still have fun.

Are Your ETF Investments at Risk in a Market Sell-Off?
Potecting your investments.

How to Fly With Your Baby
Keeping your sanity in the skies.

Retailers Are Tracking Your Returns
Assigining a “risk score.”

Filed Under: Liz's Blog Tagged With: babies, baby, EIF investments, flying, friends and money, retail returns, tips

  • Page 1
  • Page 2
  • Go to Next Page »

Primary Sidebar

Search

Copyright © 2025 · Ask Liz Weston 2.0 On Genesis Framework · WordPress · Log in