Talk about money before vacationing with friends — or regret it later

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Hey, remember that Palm Springs trip your friends always talk about taking but never put on the calendar? It's actually happening. And while that upscale hotel sounded divine over 1 a.m. nachos, some people are worried for their wallets now…

Varying expectations kill weekend trips. Different income levels, spontaneous add-on activities and not budgeting add stress to what's supposed to be a fun getaway. Yet we tend to avoid financial conversations with friends because they're uncomfortable, even though they'd make everyone more comfortable in the long run.

Keep in mind that finances are just the tip of the iceberg, says Gitu Bhatia, who has a doctorate of psychology and practices in Los Angeles. The discomfort wrapped up in talking about money isn't often about money itself — it's about the power struggles that come with it. While we often want to be spontaneous, planning ahead gives friends time to budget, says Flynanced founder Cinneah El-Amin, who teaches working women how to build wealth and save for travel. El-Amin notes that not everyone has disposable income to spend on an Airbnb or flights right away, so time is essential.

 

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