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Millennial Money: How to handle mixed-income friendships

FILE - In this April 16, 2021 file photo, patrons are assisted while dining along a sidewalk in Chapel Hill, N.C. You and your friends likely have different amounts of money to spend on dinners, movies and other social activities. One friend may think nothing of dropping $50 on a concert ticket, while another may need that cash for bills. So how can friends manage these differences as they reenter the expensive world of socializing? (AP Photo/Gerry Broome, File) FILE - In this April 16, 2021 file photo, patrons are assisted while dining along a sidewalk in Chapel Hill, N.C. You and your friends likely have different amounts of money to spend on dinners, movies and other social activities. One friend may think nothing of dropping $50 on a concert ticket, while another may need that cash for bills. So how can friends manage these differences as they reenter the expensive world of socializing? (AP Photo/Gerry Broome, File)

By Laura MCMullen / NerdWallet via The Associated Press August 7, 2021 5 min read

Finally, as the country reopens, you’re likely seeing more of your friends. Out with the video chatting and in with the high-fiving, hugging and, well, spending.

For every dinner, there’s a check to pay; for every wedding, a gift to buy; and for every concert, a ticket to score.

You may notice that you and your reunited friends handle these kinds of expenses differently. Maybe one of you sees an $80 night out as chump change, while the other feels like a chump for desperately needing that cash for rent.

Here’s how to reenter the world of socializing and spending while keeping friendships and finances intact.

If you’re the friend with less money