Top 10 awkward money moments you may find yourself in

Most of us have found ourselves in an awkward money situation at some point. Effie Zahos shares a few of her own awkward money moments plus offers tips on how to handle them.
In 1993 the movie Indecent Proposal hit the big screen and, while it had mostly negative reviews, it was a box office hit and had everyone asking: Would you do it? In the movie, a handsome billionaire, played by Robert Redford, offers David (Woody Harrelson) and Diana (Demi Moore) a cool million for a night with Diana. An indecent proposal it was but it was also a very awkward money moment.
While I’ve never had a billionaire walk up to my partner and me and present the same offer (the mind boggles as to what I would say) I have had my fair share of awkward money moments. Like the time my 16-year-old issued me with a letter of demand. Turns out I had failed to top up his school lunch money card for pretty much the entire year. As he politely reminded me, it’s my duty as a parent to ensure he is adequately fed – awkward! He is now seeking damages of $150 – the total amount of his own cash he has spent at the tuck shop.
Another awkward money moment for me was when I was shopping in David Jones for a pair of shoes and two lovely women recognised me as the “money lady”. While it’s nice to be recognised it can be quite awkward if you are spotted just as you’re about to buy a pair of kitten heels.
These two ladies were not impressed with me spending my money given I talk about the importance of saving all the time – I guess they wanted me to practice what I preach 24/7. Needless to say, I dropped the shoes and left red-faced and empty-handed. It’s a shame, as I still think about those heels …
Top 10 awkward money moments
Now, I know I’m not alone in finding myself in awkward money situations. It got me wondering – what are some of the most common awkward money moments people experience? So, I put together this list of what I think would be the top 10 (in no particular order).
- When your kid asks if you’ve taken cash out of their piggy bank.
- When your parents ask you if they can borrow some money.
- Saying no to a charity fundraiser (almost impossible if it’s for children or cancer) as you run in or out of the supermarket.
- Backing out of a group trip that’s taken months to organise.
- When your credit or debit card is declined at the checkout.
- Splitting bills evenly when you’ve only had a salad and water.
- Asking your friend to repay you the money that they owe you.
- Being asked to be a bridesmaid for the seventh time – and it’s a destination wedding.
- When you ask what the market price is for the “fish of the day” at a restaurant only to then order the chicken.
- You only put $20 into a gift card and they open it in front of everyone.
What makes money moments awkward is that they often force us to face our money fears, insecurities or just plain old beliefs head-on. When an awkward money situation pops up it is usually because we have to talk about an issue that we would prefer to avoid.
Take splitting bills for example. It’s a relatively simple calculation to split a bill yet it can often cause a great amount of anxiety – not only when the bill arrives but, for some, during the dining experience itself.
If you’re on a tight budget and notice that John is knocking back Mai Tais faster than it takes for them to come out then naturally you may be a little worried about how the bill will be split. The tip here is to be open and honest. If you just want to pay for what you have eaten you need to make it clear. If you’re not comfortable speaking up (and it’s not a regular occurrence) you might just choose to let it go and pay a little extra for the pleasure of your friend’s company. If you can accept that, then it can go a long way to easing some of the angst.
The same can apply, for example, when you lend money to friends. If you accept upfront that you may not get this money back then you will go some way to reducing the stress and disappointment. Of course, that’s not to say you shouldn’t put strategies in place to prevent this from happening. Take the emotional element out and approach it for what it is – a financial transaction. If you look at it this way then talking about setting up a repayment plan won’t seem so awkward.
Being honest, open, realistic, and having a sense of humour can help ease the pain of awkward money moments.
Here’s to owning your awkward money moments.
Effie
Cover image source: Cookie Studio/Shutterstock.com
This article was reviewed by our Editorial Campaigns Manager Maria Bekiaris before it was updated, as part of our fact-checking process.