How to not fall out with your bffs over holiday finances

Don't let money lead to a bestie break up

Don't let a friend altercation over cash get in the way of a friendcation this summer. Follow these tips so you arrive back home still best mates. 

Girls trips, boys trips, or friendcations – whether it’s a weekend away at the beach, shopping and hitting the dance floor during a city escape or even a trip overseas, heading away with your besties can be just what the soul doctor ordered.

But as 90s Swedish composer and pop singer Meja (remember her?) so aptly told us in her 98’ hit, ‘All Bout the Money’, often things (even trips away with those we love) can indeed be ‘about the money’. And we all know that this doesn’t necessarily equate to smooth sailing. 

“As wonderful as friendcations can be, they also come with potential challenges – especially when it comes to money,” says Molly Benjamin, founder of Ladies Finance Club. 

This stems from a range of areas including differences in spending habits and financial situations, as well as holiday budget expectations, which Benjamin says, “can sometimes lead to tension.”

The good news though, is that with a little help from your friends (or at least, by planning and communication with them) you can avoid or diffuse any awkward and tense moments.

“One of the most important things to do before embarking on a friendcation is to have an honest conversation about the budget,” Benjamin says. “It might feel a bit uncomfortable at first, but it's crucial to ensure everyone is on the same page.”

Some topics on the agenda include what each person is willing to spend on accommodation, meals, activities and other expenses. 

Save your money and spilt the fare. Image: iStock

“By setting expectations early on, you can avoid any surprises and make sure everyone feels comfortable with the plan,” she explains. “Plus, if someone is on a tighter budget, they won’t feel pressure to do certain activities.” 

It is also helpful to address the different spending habits amongst your group and what this means for your trip. “It's natural to have different spending habits among friends – some might want to splurge on a five-star dinner, while others are happy with a casual meal. These differences can create tension if not addressed early.”

Benjamin recommends discussing how best to handle these situations before they arise to help prevent any awkwardness. “For example, you might agree that everyone will have one or two ‘treat yourself’ moments, but for the rest of the trip you’ll stick to a more agreed-upon budget,” she suggests. “Flexibility and understanding go a long way in making sure everyone has a great time without feeling financially pressured.” 

Don't let silly finances get in the way of a good time. Image: iStock

To split or not to split

Deciding on what expenses will be split and how is also a simple yet effective item you can add to your friendcation meeting agenda.

“Talk about what expenses will be shared (like accommodations) and what might be individual (like personal shopping or fancy dinners),” Benjamin says.

While not everything needs to be split equally, some friends might be happy to pay extra for a nicer room or an expensive dinner, while others prefer to keep things more budget-friendly. “Being clear on this upfront can prevent misunderstandings and keep the trip stress-free,” the founder explains.

Do you ever get the urge to leave the group chat? Image: Getty

Apps baby

Like everything in life – there’s an app for that - and splitting costs on trips away with your mates is no different.

“Managing shared expenses can be tricky, but thankfully there are plenty of apps that can help,” Benjamin says. “Splitwise, for example, is a great tool for tracking who owes what, making it easy to settle up at the end of the trip. Using an app like this can take the guesswork out of splitting costs and ensure everyone pays their fair share.”

Most importantly, Benjamin adds, is to make sure to take turns paying so one person doesn't have to put every meal on their card. “Once the trip is over, make it a priority to work it all out on  Splitwise asap.”

It's always cheaper to share a slice. Image: iStock

Appoint a Holiday CFO

If meetings, agendas and general organisation isn’t your thing, you can always appoint your Monica Gellar-like friend (the one that is) to the role of Holiday CFO (if they are happy to do this, of course).

“The Holiday CFO can help set clear expectations for the trip, gather everyone’s input on what they’re willing to spend, and ensure that the financial plans are realistic for all,” Benjamin explains. “This role isn’t about controlling the purse strings but about making sure everyone feels comfortable with the plan and that there are no surprises along the way.” 

And finally, while money can often be a challenge on group holidays, if done right, it can also be a good thing. “Traveling with friends often means sharing costs and making it more affordable,” Benjamin says. “So things like splitting Ubers to and from the airport already save you money right off the bat!”

Originally published as How to not fall out with your bffs over holiday finances