5 Money questions you may be asked after returning home in holidays

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By: Good Nelly
on 24th Nov,2011

You can return to your dream abode during the holidays and spend quality time with your family members and friends.
5 Money questions you may be asked after returning home in holidays

Are you planning to pay a visit to your home during the holidays? Well, nothing can be better than eating homemade foods and sharing jokes with your family members during the holidays. If you're staying away from your home for major part of the year due to your work or business, then you deserve to have a break during the holidays. You can return to your dream abode during the holidays and spend quality time with your family members and friends.

However, in some cases your trip to your home may not be completely peaceful. If you're in a good financial standing, then an unemployed relative or a friend may ask you some awkward money questions to you. Have a look at the article to know how you can dodge embarrassing money questions asked by your close friends and relatives.   

Dodge awkward financial asked by your friends

Here are some awkward financial questions which you may face after returning to your home:

Q1. What is your annual income?

It is a tricky and private question. If you don't like to discuss about your annual income, incentives, bonus, etc. with your friends or family members, then there is no need to reveal them. You can just politely tell the person that you don't like to discuss about wage or money matters with any one. There is no hard and fast rule that you'll have to reveal your financial health to a person just because he asks you about it. You can try to change the topic of discussion subtly.   

However, some financial experts are of the opinion that it is good to be transparent about your financial health in certain situations. For example, if you have received a pay cut, then you can tell this to your friend. This will let your loved ones know that your financial health is not as good as they think it to be. They won't make impractical expectations from you.  

Q2. Can you lend some money to your friend?

Try to not give an affirmative or negative answer on the spot. It will look rude if you refuse to lend money to your cousin or friend instantly. On the other hand, you may rebuke yourself inwardly after agreeing to give out a loan without giving much thought. Never agree to lend money when your financial health does not permit you to do so. However, if you have ample money in your savings account, then you can surely help your financially distressed relative by giving out a loan.      

If you make a decision to financially bail out a relative by lending some money, then make sure you talk about the loan terms and conditions clearly. Tell him/her if you expect to be paid back. In case, you do want to get back your money, then talk about the repayment schedule with your relative. If possible, make a written loan agreement with your relative.

Q3. Are you earning profits from your investments?

There is a simple answer to this question. You can just say that you don't have any clue. The market is volatile. It fluctuates from time to time. Sometimes, the market is up and on the other times, it is down. Even if you're making lots of money from your investments, there is no need to declare it to every body. If any one has incurred losses through investments, then he may feel frustrated.

Q4. How much are you going to spend on holiday shopping?

A close relative of yours can ask you about your holiday shopping budget without any inhibition. He may even ask you about the gift you're going to present him in the festive season. Politely say that he will have to wait for the answer till you give him the present. It is a surprise. You want to see the look of surprise on his face when he un-wraps the gift. If any relative gives you a costly gift, then don't think that you'll have to give him an equally expensive gift. Buy a gift as per your financial means.   

Q5.  When you're going to repay the money given to you by your friend? 

If you have taken out a loan from your cousin brother and have not paid a penny to him, then you may feel awkward after meeting him in a social gathering. Your cousin brother may raise questions about the loan repayment in front of every body. Don't feel shy in such a situation. It will make the whole situation more embarrassing. In stead, try to tackle the situation with a smile. Explain why you have not been able to pay back his money honestly. If you're going through a financial crisis, then don't feel shy to admit it in front of your cousin. Perhaps, he may come forward and suggest you the ways to deal with it. It will save your relationship with the person with whom you've spent beautiful moments in the past. 
Moreover, ask your cousin brother why he is asking about the money at the present moment. Is there any particular reason why needs the money? Inform him when you can pay off the loan in full. State the amount of money you can possibly pay during the holidays. It will be better if you can repay a part of the loan while staying at home. It will make your brother believe that you really want to pay off the loan.   

You may face uncomfortable financial questions when you visit your home during the holidays. Dodge the questions with polite but smart answers to retain your self-dignity and family relation.

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