How to avoid being 'brokefished': Millionaire money expert LISA JOHNSON reveals five steps to make sure you're not subsidising your less wealthy friends

I'm Lisa Johnson - a global business strategist running That Strategy Co, helping ambitious people to create passive and semi-passive income streams. 

I'm the Sunday Times-bestselling author of Making Money Online and a 46-year-old mother-of-twins who went from being £35,000 in debt to earning £16m over just six years - and I teach others how to do it too.

But I've only been financially successful for the past eight years or so. Prior to that, I had a host of different jobs, some that paid better than others, but none that afforded me the kind of lifestyle that I have created for myself since I began my own business.

I grew up in social housing, and was the kid who couldn't afford the uniform or the school lunches, so I know only too well what it is like to benefit from financial help from others.

Lisa Johnson, 46, from Hertfordshire went from being in debt to being a millionaire

That is why I find dealing with today's topic especially difficult. If you haven't heard of it, 'brokefishing' is a fairly new term which has been coined to describe when someone pretends to be poorer or struggling financially more than they actually are.

Interestingly, people might engage in brokefishing for several reasons, some that are quite surprising.

It can range from simply looking for sympathy, to something as sleazy as manipulating others for personal gain.

For an example that is different to the initial perceptions that we have of brokefishing - think about online dating. Someone might actually say they have less money than they do, not to avoid paying, but to appear more relatable or to avoid attracting people who are only interested in them for their money.

The examples I have come across in the last few years are of a different type though.

I've always enjoyed helping others, I think that stems from not having much growing up, and I love being in a position where I can get the drinks in or pay for lunch.

I have taken great pleasure in 'paying it forward' on numerous occasions, and these instances are rarely as a result of being asked. It may be a comment I've overheard, or reading between the lines in what someone has written.

But there is a fine line between helping a friend out during tough times and being taken advantage of.

Lisa is a global business strategist who runs That Strategy Co, helping ambitious people to create passive and semi-passive income streams

I never really gave any thought to what would happen if I started to earn more money than most of my friends, but as my income has grown, there are certain things that I have noticed.

The most important is that my true friends all knew me before any of my success. They have no interest in how much I have earnt or where my handbag is from. 

Not long ago I would have said that I have dozens of close friends. Now I have fewer than 10, but the trust and support within these friendships is on another level, and this is what matters.

And I think that is the crux of the whole issue here. Your true friends will never seek to benefit from your financial success, and they give way more than could be measured financially.

However, I can't lie and say it has all been plain sailing. People who I had thought I could trust have come and gone. Less than subtle approaches have been made for financial assistance on numerous occasions.

As I say, I love helping others, but to be sold a story of eviction if the rent isn't paid, and then to see the social media updates from the sun bed in Spain really is hard to swallow.

Or the time I gave £2k to cover a rent deposit, which was then spent on a proudly displayed designer handbag the following day.

Here are my top tips on how to stop getting brokefished.

1. Set Boundaries

'Brokefishing' is a fairly new term which has been coined to describe when someone pretends to be poorer or struggling financially more than they actually are, Lisa, pictured, explains

Friends, work colleagues, family members or business associates should never make you feel like you have to cover their cost of living. 

No matter how close you are to this person it's important to set boundaries. 

2. Understand the why  

Lisa is also the mother of twins (pictured with her children on holiday)

In the same way that hurt people hurt people, we are often a product of our surroundings and experiences, so it may be that the financial hardships that they experienced still impact on their money mindset now. 

Or it may just be that they believe that you, or others around them simply have more disposable income. Interestingly, most brokefishers are not struggling financially.

3. Don't be afraid to talk

In the UK we really struggle with talking about money, so be careful with your words, but fully understanding what the situation is, and the reasons for someone's behaviour can be a real eye opener.

4. Do not offer immediately

The Sunday Times-bestselling author managed to turn her life around after growing up on a council estate and being bullied at school

I would caveat this one with be careful and do not rush in. 

I know it is easier said than done, but make sure you don't fall for any brokefish bait. 

Remember that no is a full sentence and if after consideration and thought, you do not feel comfortable, you do not need to explain why you won't pay.

4. Think about the bigger picture

Word gets around and covering someone else's costs could be taken as a sign that you're a people-pleaser and could easily lead to others taking advantage of you for it.

5. Money is not always the answer

What other ways could you help? What are the reasons behind the approach to you? It could well be a cry for help, a sign of a situation that wouldn't necessarily benefit from money.

See if you can get more details. I had one instance where the real reason was depression, resulting as a perceived need for stimulus of the non-prescription type.

I was able to help, but not in the way that would initially have seen the most obvious.

Lisa Johnson is a global business strategist running That Strategy Co, helping ambitious people to create passive and semi-passive income streams.