Uncomfortable Money Situations

Hello Sophisticated Spenders!

I was listening to the radio the other day and they were discussing uncomfortable and embarrassing money situations.  It really made me wonder how I would handle myself in each situation.  It also made me remember how I reacted when those things happened to me.  How would you react to these situations?  Is honesty the best policy?

1.  Credit Card declined at checkout:  I’ve been there in college! I would just laugh it off and keep trying cards.  And if I didn’t have a card that worked, I’d tell them to save my items while I ran home (or to the bank) to get money.  Of course I wouldn’t return because by then I knew I was broke!

2.  Having to remind someone that they owe you money:  I try humor with this one.  Before I even hand out my dough, I say things like, “I’m not gonna have to harass you for my money back am I?”  or “You’re not gonna make things uncomfortable by me having to ask you every time I see you for my money back right?”  Then I kindly say, “Where’s my money?”  every time I see them (especially if they are making a purchase right in front of me).

3.  Group collection for a coworker/someone you don’t know or like:  I tend to use avoidance with these issues.  I never promise to contribute if I don’t plan on it.  I would inform the money collector that the person whom they are collecting for is a person that I don’t normally associate with.  I’d even go so far to list a lot of things that I don’t know about that person that I do know about other people who I normally purchase birthday presents for (for example, “I’ve never even been to his/her house before!” or “I don’t even know his/her kids names”).  And just leave it at that.

4.  Invited to an event just so they can get a gift from you:  People who do this are people who you normally don’t hang out with in the first place.  I don’t give gifts in anticipation of getting one in return.  I actually hate receiving gifts, I’m such a giver in the first place.  However, I really do have a busy schedule.  So 9 times out of 10 I really will be out of town or will already have plans.  As I get older, I really realize how important every second of my life is.  Sometimes I’d  rather spend more and more time trying to make this an awesome blog for you guys!

5.  Asked to cosign on a loan:  I will never, never, ever cosign on anyone’s loan.  Maybe the bank is right and they just can’t afford a loan at that time.  Tell them that the bank is only looking out for their best interest and as a friend you can’t enable them to make any financial mistakes! 

I’d love to hear what you guys either would do or have done in these situations.  Or if you have any other funny money situations you’d like to share!