Are you still waiting for a friend to pay for their share of a girls' weekend or boys' golf outing? That feeling of frustration is more familiar than you might think.
From airfare to bar tabs, someone usually ends up fronting the money for group trips or other shared expenses. The problem? Trying to get friends to actually pay you back.
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A new Zelle report found that 76% of Gen Z consumers who covered a group expense were never fully repaid. Nearly half, 47%, say they've gone into debt because of it.
"You're waiting for that money back -- that then delays your own financial responsibilities and goals, like paying your bills for instance," said Dr. Traci Williams, a board-certified psychologist and certified financial therapist.
Hurting finances and friendships
Williams explained that delayed payments don't just hurt your bank account. They can also damage relationships.
"If you're not repaid, you can then develop feelings towards your friends, like resentment or anger, and that can impact the relationship," Williams said.
Ways to avoid unpaid IOUs
Before volunteering to cover a group expense, Williams said it's important to set expectations up front. Make sure everyone in the group is aware of how much they owe, how to send payment, and the payment deadline.
"If you're clear about the deadlines that you're expecting as well as how much each person is responsible for and you get a verbal agreement from everybody, I think that can make it a little smoother," Williams said.
If a friend or family member still owes you money, be direct about why repayment matters — and set a deadline.
"Set a date versus leaving it open-ended," Williams added. "That may be the end of the week. And then you can explain why it's really important to you."
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On the flip side, Williams pointed out it's important to know what you can realistically afford before agreeing to pay someone back.
"Stop and think first about the true cost of attending something, even though you really want to go," she said.
Digital payment apps like Zelle and Venmo can make splitting costs easier, as long as everyone follows through.
Zelle also found that about 20% of young people have canceled plans, or even muted and ignored group chats, to avoid paying someone back.