Money is one of those things that most of us would rather not have to talk about, even with our close friends and loved ones. But despite our social inhibitions, we will all have encounters that require us to deal with some money issue, whether we like it or not. So here are some suggestions for tackling some common money woes (adapted from WalletPop.com).

• Declined credit card: Whether you’re in front of a long line of weekend shoppers or at a restaurant with close friends, having your credit card turned down can be seriously embarrassing. To minimize any potential fallout, offer a backup form of payment and contact your credit card issuer as soon as you get home. If the card issuer made a mistake, express your frustration and ask what their policy is for compensating consumers for such incidents. If there was no mistake and your card was maxed out, it’s time to start paying more attention to your credit card use.
• An overdue personal loan: Many of us have borrowed money from parents or other family members at some point, and most of us (hopefully) intend to pay that money back. But what happens if so much time has elapsed since the initial loan that you feel awkward bringing it up, even if you can afford to repay it? Try writing a simple (but sincere) thank-you note and including a check for the full amount of the loan. Even if your relationship was not strained by the money, you’ll show your loved one how much you care by honoring the loan terms.
• Secret (overwhelming) debt: The numbers tell us that tens of thousands of Americans have serious credit card debt, but few people feel comfortable talking about credit worries or the stresses of dealing with debt collectors. If you’re considering a bankruptcy filing or some other debt management plan, do yourself a favor and research before you make any decision. The Internet is loaded with free resources so that you can get the information you need before taking any major financial step.
• Bill-splitting friends: One of the most uncomfortable friends-and-money situations can happen at a restaurant when you order a small, inexpensive meal and your friend orders something elaborate and costly – and then suggests splitting the bill evenly. The key to avoiding overpaying for a soup and salad is to act fast: if the waiter sets a single bill on the table, ask immediately (and politely) if can divide the check. If your friend suggests splitting the bill to you, deflect the money issue by saying you don’t think the restaurant would mind printing separate checks.

See? With a little preparation, navigating the world of finance can be manageable!

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