Most families and circles of friends have one – the person who squirms when the check comes because they “forgot” their wallet, rarely picks up the next round, or doesn’t pay their share of a group purchase. During the holiday season, shared expenses like these can be an even more frequent occurrence.
From holiday dinner parties to group gifts for friends, family or co-workers – it’s the season of giving. While most of us are willing to lend money to our loved ones or cover the full cost of a gift, things can get awkward when asking to be paid back for an IOU. This can lead to tension and avoidance, causing serious damage to relationships – an unfortunate result at any time of year, especially during the holidays.
According to a recent survey from Bank of America:
- More than 50 percent of people have seen a friendship end over money
- 43 percent of consumers would be willing to end a relationship with a friend for not paying them back
- It doesn’t take a lot of money to sever ties – of those willing to end a relationship over an IOU, nearly 40 percent say their breaking point is $100 or less
Dhani Jones, former NFL linebacker and host of CNBC’s “Adventure Capitalists” is available for live interviews to provide tips on how to steer clear of unsettled IOUs during the holiday season. He will discuss how to navigate owing or being owed money, and will share the most bizarre situations people have found themselves in when being owed money, as well as tips for harnessing the holiday spirit to repair damaged friendships.