On today's Satellite Sisters, we bring you a favorite interview we did about personal finance with Mellody Hobson of Ariel Capital and Good Morning America.  It's tax time, people, so we figured you could use the financial inspiration.  

Mellody helps us think about all the issues about friendships and money.  Her first piece of advice is "Get straight with who you are." You have made life choices and career choices along the way.  Those choices have implications.  Accept them.    

Next piece of advice is "Stop trying to keep up with the Jones'". If you can't afford it, you have to say so. A friend wants a fabulous destination wedding in Italy and there's no way you have the money to go?  You have to fess up early. You'll stay friends as long as you don't flake out late.  Picking a restaurant for dinner? Be sure it's something everyone can afford. Don't get into the habit of always treating if you are the one with more resources.  Your friends do not want to be your charity case. 

A caller has a questions about money secrets.  Should you loan friends money without telling your spouse?  Even with the best of intentions, Mellody says everything needs to be on the up and up.  No subterfuge. No surprises. 

And finally, how about loaning money to friends or family? Mellody says yes, as long as it's above board and documented.  After all, if you can't count on your friends to help once in a blue moon, who can you count on?  But never loan more than you can afford to lose. 

For more "You're the Best" Encore Interviews from the Satellite Sisters, go to iTunes or www.satellitesisters.com.  You can listen to Bill Clinton, Peggy Fleming, J J Abrams, and Nora Ephron among other solid gold Satellite Sisters conversations. 

To order copies of "You're the Best", try amazon, vromans or bookstores near you.  

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