A holiday with your friends sounds like a great time, right? Well, it can be, but there are plenty of things that could go wrong. Planning the itinerary, finding a place to stay, and deciding who will drive can all cause stress.
Travel Troubles: How Money Disputes Are Ruining Friendships On Holiday
Holidays with friends can be a lot of fun, but they can also be a source of conflict, especially when it comes to money.
New research from Starling Bank shows that money is the main cause of arguments between British friends on holiday. More than half of holiday disputes stem from disagreements over money. It's a common issue that many face, and sometimes these arguments can be so severe that friendships are damaged beyond repair. In fact, 16% of friends surveyed said they lost a friend for good because of holiday money disputes.
Budgets are crucial, and it’s important to keep everyone's finances in mind. Surprisingly, 75% of holidaymakers admitted they overspend on holidays with friends. On average, they overspend by a whopping £261!
Starling Bank believes that poor communication is the main reason for these financial issues. Half of the people in the study admitted they don’t talk openly about their budget with friends. However, those who do discuss their finances said it helped reduce stress when planning the holiday. About 28% said it also made things easier when they were abroad.
Money worries are common, with nearly two-thirds of people concerned about spending while on holiday. One in ten end up going over their budget to keep up with friends, which can lead to trouble.
Spending habits can even stop some friends from holidaying together. About 50% of people avoid going away with certain friends due to cost concerns. Half of UK adults have fallen out with a friend on holiday, with 54% of arguments caused by money issues. This number rises to 71% among 18-24-year-olds.
Dr. Jenna Vyas-Lee, a clinical psychologist, explains that overspending often comes from social comparison. People spend more to match their friends and avoid feeling left out. The fear of missing out (FOMO) can also drive people to spend more than they planned.
Overspending can seriously impact both friendships and finances. In the short term, it can lead to stress, anxiety, guilt, and resentment. In the long term, it can cause lasting damage to friendships, with many people losing friends or avoiding future holidays together.
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Rachel Kerrone, a personal finance expert at Starling Bank, advises having open conversations about budgets to avoid any awkwardness or tensions during the trip.
Here are some other tips to ensure a smooth trip with your friends:
Plan Together: Make sure everyone has a say in the itinerary. This way, everyone feels included, and you're more likely to avoid conflicts about activities.
Set Expectations: Talk about what kind of trip everyone wants. Is it a relaxing beach holiday or an adventurous hiking trip? Aligning expectations can prevent disappointments.
Respect Personal Space: Even on a group trip, everyone needs some alone time. Respecting each other’s space can prevent tensions from building up.
Be Flexible: Things might not always go as planned. Being flexible and going with the flow can help everyone enjoy the trip more.
Share Responsibilities: Divide tasks like driving, cooking, or planning outings. Sharing responsibilities ensures no one feels overwhelmed.
By keeping these tips in mind and maintaining open communication, you can ensure a memorable and enjoyable holiday with your friends.
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