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When money comes up with friends, family, acquaintances and colleagues things can get a bit awkward to say the least. However, it's eventually bound to come up at some time or another because money is always involved.

The best way to handle such delicate moments is be mindful of your money manners and prepare for them. Here are several awkward money moments and how to handle them, so you can get out of a sticky situation or conversation.

Nosy Questions

Did you recently get asked "How much do you make?", "What is your mortgage payment?", or "How much did those shoes cost?"

In general, people can be curious about money but when it's especially true when it comes to the money of their friends and family. You don't have to answer their questions if you're not comfortable. If you don't want to answer, the best way to handle such questions is to decline gracefully so you don't make them feel bad for asking. You could tell them that you have a policy about not discussing money or answer with a vague joke. If you want to answer, go ahead but keep in mind that you may get an unexpected or strange response. It is probably best to consider your audience before you answer, so provide the best answer to avoid unusual responses. It might also be best practice to be cautious about whom you share your salary or just have a policy never to discuss it.

The Check

Have you been out to lunch with colleagues and everyone wants to split the check evenly, but you ordered less than everyone and are on a tight budget?

The first thing to note is that your colleagues aren't being rude or uncaring when they decide to split the check evenly; it's just the easiest and most convenient way. If you know you are going to order less than everyone and want to avoid this situation, before you go out for lunch discuss and decide on where you're going. Research the restaurant's price points and check policy ahead of time. If you can't split the check, send everyone a reminder email to bring cash. Then, when you get to the restaurant casually tell everyone before placing your order with the waiter that you're on a budget and ask if it's okay that you chip in only for what you ordered. Telling everyone casually as you all decide what to order will avoid the potentially awkward conversation that could happen when the check arrives. In addition, doing this before everyone orders creates less confusion when the check arrives as it provides an opportunity for everyone to note the prices of what they're ordering beforehand.

Over Budget

Do you have too many invites and not enough funds to cover them all?

If you're in obligation overload and trying to avoid going over budget, it's completely acceptable to say no to your significant other, best friends and office pals. But before you say no to every obligation out of frustration, prioritize by choosing what you need to be a part of and those that are important and you'd like to attend or participate, such as a friend's wedding or department's holiday gift exchange.

Personal Loans

Have you become a human ATM for a friend or family member?

If you've become a human ATM, before you commit to yet another cash withdrawal consider whether you can afford to never receive the money again. Next, ask yourself if you can risk the relationship over money and if you are comfortable with giving the money to the person asking. If you can't afford to give the money and aren't comfortable doing it, say no. If you're okay with lending the money, make sure you write an agreement that includes the amount your lending and when and how it is going to be paid back. Doing this helps clear up any misunderstandings that may occur and tracks how much money you've lent to that person should they ask again.

For more tips on how to handle lending money to a friend or family member, check out Should You Lend Money To A Friend Or Family Member?

Income Disparity

Does a friend of yours make more than you or do you make more than a friend and it's been creating moments of jealousy, guilt and frustration?

Stop it from putting your relationship at risk by having a conversation. Whether it's you getting frustrated that you're always picking up the check due to your friend making less or you making less than your friend and being the one feeling guilty about your friend always pitching in more, talk about it before you lose a good friend that you enjoy spending time with over money. Try to find ways to hang out where it fits both of your budgets and relieve the stress that's been overshadowing your friendship.

Gift Giving

Did you receive an unexpected gift and not sure if you should reciprocate with a gift?

To put it simply: a gift is a gift, don't overthink it. It's not something that you have to feel the need to reciprocate to level out the playing field. Doing so could potentially diminish the gesture of the gift and make the situation awkward. A completely acceptable way to handle an unexpected gift is telling the person, "Thank you!" If you're feeling the need to reciprocate with a gift, it's important to note that you'll probably establish a gift-giving tradition with this person and you may not want to go this route if that is not your intention. But you can avoid this and reciprocate with a gift if you give it at a different and appropriate gift-giving time, such as a birthday, holiday or another type of celebratory milestone gift.

What awkward money moments have you encountered? How did you handle them? Tell us by joining the conversation on Facebook.

Sources: Fool.com, LearnVest.com