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Bankruptcy: The Power of the Clean Slate

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Dave Ramsey

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Scott Bilker

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Liz Pulliam Weston

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Do Good Friends Cause Bad Debt?

Do Good Friends Cause Bad Debt?

Have you ever been through a night like this? Each of us has sat on at least one side of that table—it's hard when you and your friends have different financial lives.

How do you get through being the one who doesn't have the cash for a night out? Remember that your good friends don't care how much money you have or what you give them. Make sure that you stay within your budget—don't feel pressured to pick up an expensive tab, go on a trip you can't afford, or go into debt to "keep up" with your pal's purchases. And when they ask why you're not spending? Be honest! A true friend will want to help you become financially stable, rather than bring you further into debt.

Stacy Johnson from Money Talks at MSN.com offers the
following advice:

Are your friends causing your bad debt? How do you show people you care without spending money? [MSN]

Posted: 6/2/08