![]() ![]() Read: Does ‘You Break It, You Buy It’ Apply To Friends? It also has a lot to do with the nature of the ask. “It all depends on the experience, friendship and trust level.” “I don’t think there is one size fits all rule for this,” said Meru Hunter McMahon, CEO of Your Savings Pro, which focuses on a unique brand of holistic wealth health. This particular money etiquette question has so many gray areas because no two friendships are the same. More: How Do You Turn Down Supporting a Charitable Cause? It Depends on the Friend, the Job and Your Finances “Your friend may be up front with you and suggest an arrangement that works for them.” “The key to a successful professional relationship with a friend is open, honest communication,” said Elizabeth Keatinge, certified financial planner and founder of. “Pay the full fee and expect good services in return.”Įither way, being on the same page is a must, so talk, talk, talk. “If you sense that paying your friend less than their standard fee would put either of you in an awkward position, then it is best to be strictly professional about it,” Tang said. You could also use the situation as an opportunity to hook your friend up with a paying gig with you as the customer.įind Out: Do You Always Have To Pitch In for an Event or Gift at Work? Meanwhile, it also creates an opportunity for you to return the favor, and therefore, more chances for your relationship to grow.” “As long as you are sure that they are happy to do you such a favor. “It will make your friend feel good about themselves as well as their connection with you,” Tang said. More Modern Money Etiquette: Do You Tip on Takeout Orders or Not? But Asking For Help Can Also Be a Good ThingĪllowing friends to lend you their skills and talents can make strong relationships stronger, according to personal finance and investment coach Ellen Tang. Several experts, in fact, recommended avoiding altogether the hard feelings, resentment, sense of obligation, awkwardness and boundary issues that so often come with mixing the two. “Mixing friendship and business can lead to a nasty fallout,” said Brian Meiggs, entrepreneur and the founder of personal finance site smarts. Read More Etiquette: Should You Ask Coworkers About Salary? The Best Favor Might Be the One Not Askedīefore you make that call, keep in mind that whether you pay or not, having a friend do work for you can go wrong in a lot of different ways. Modern Money Etiquette: Answering Thorny Questions About Tipping, Gifts and More ![]() ![]() The short answer is that, like so much in life, it depends - depends on the friend, depends on the job and depends on if you’re able to pay. Is it OK to call in a friend for a professional service, and if so, are you supposed to pay? To get the scoop, GOBankingRates called in some professional services of its own and asked the experts to weigh in. When you need a haircut or a website or an electrician to take a look at your breaker box, you’ll inevitably know someone who does that for a living. ![]()
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