MENU

Save Your Friendship: Don't Do IOU's

poster_c32521891cc7476d9686ab72d7440c78.png
Bank of America

(KUTV) Salt Lake City - 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” joined Kari on Fresh Living for a live interview to provide tips on how to steer clear of unsettled IOUs during the holiday season. He discussed how to navigate owing or being owed money, and shared 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.

To learn more about how Bank of America is repairing friendships, go to bankofamerica.com/friendsagain.

ABOUT DHANI JONES:

Entrepreneur, philanthropist, NFL linebacker, author, host, explorer – these are just a few of the many words used to describe Dhani Jones. Jones began his career as an NFL linebacker, playing with the New York Giants, Philadelphia Eagles, and Cincinnati Bengals. For most, the NFL is a career, but for Jones it was just a jumping off point. In 2010, Dhani launched his philanthropic endeavor, BowTie Cause, designing signature bow ties for organizations around the country. He has also since become partner of two advertising agencies; PROCLAMATION based in Cincinnati, and VMG-Creative in New York. His entrepreneurial spirit has continued to push him in new directions, adding Qey Capital and Hyur Staffing Services to his roster.

Jones is also an author, writing his travelogue/memoir, “The Sportsman: Unexpected Lessons from an Around the World Sports Odyssey,” in 2011, recapping his rise to NFL fame, as well as his time as a host of Travel Channel’s original series, Dhani Tackles the Globe. Dhani is currently the host of Adventure Capitalists on CNBC.

FOLLOW US ON TWITTER