Don’t ruin your friendships by arguing about this (Picture: Getty Images)
Ahead of a trip with your friends, make sure you have an open and honest conversation about budgeting.
A holiday with your mates seems like a fun time is on the horizon. However, if there’s one thing that’s going to make or break a friendship, it’s a holiday (or living together).
There’s the itinerary to plan, finding accommodation, who’s going to drive – the list goes on!
But now, new research from Starling Bank has found that over half of holiday arguments between British friends stem from disagreements over money.
It’s an old but classic problem – and it happens to the best of us.
However, these arguments are sometimes so severe that the friendship never fully recovers – with 16% of friends surveyed admitting that they’ve lost a friend for good as a result. Not what you want when planning something that should only be a fun time.
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Budgets are a key thing – and it’s only fair that everyone’s finances are kept in mind. And 75% of holidaymakers revealed they overspend on holidays with friends – and not by a few pounds and pennies either, in fact, by an average of a whopping £261!
Starling Bank believes a lack of communication is at the heart of these fiscal issues, with half of the people from the study also owning up to the fact that they don’t speak openly to pals about their budget.
The other half that do discuss the nitty and gritty said it helped alleviate stress in planning the holiday – while 28% added that it made things easier when abroad, too.
Don’t let an argument over money end your friendship (Picture: Getty Images/iStockphoto)
It’s a topic that’s on everyone’s minds, often the elephant in the room, with nearly two thirds worrying about spending when on holiday – with one in ten ending up going over their budget, in a bid to keep up with their friends. This already sounds like a recipe for disaster.
Spending habits even cause some friends to refuse to holiday together, with 50%being put off going away with certain people, over cost concerns. In fact, half of UK adults admit they have fallen out with a friend on holiday, with 54% of arguments triggered by disagreements about money – which rose to 71% in the 18-24 age group.
According to Dr. Jenna Vyas-Lee, a clinical psychologist, ‘There are a multitude of reasons why we overspend when it comes to holidays with friends, one of which stemming from social comparison theory.
‘This manifests in a desire to match your friends’ spending to avoid feeling inferior or left out.
‘We’re all also familiar with FOMO (fear of missing out), which can also drive us to spend more than anticipated.’
She added: ‘However, overspending can have a serious impact on both your friendships and your bank balance.#
It can truly be make or break for some friendships, with now ex-friends who found …read more
Source:: Metro
