Partner Article

Set Financial Boundaries With Family And Friends

A number of people wonder how to set financial boundaries with friends and relatives. However, mostly it’s not a problem for people who borrow, but for those who lend. In fact, a lot of individuals just can’t say “no” when it’s necessary. So, it’s really important to divide people which need to be refused for your benefit:

1. Say “no” to the so-called schemers who expect that you will invest money in all their concocted business ideas which are mostly cockamamie and are going to fail for sure.

2. Refuse money requests from the dreamers who never follow their plans of starting their own business, going back to school or fulfilling some other dreams (with your money).

3. Learn to say “no” to able-bodied, grown freeloaders who try to feel you guilty and take advantage of this, thinking that you have some spare money to share.

4. Don’t give money to deadbeat friends and some other individuals who consider you to be their own savings account, ATM, rainy-day fund and bank teller, all in one.

5. Remember that people who sport new jewelry and clothes every time you meet them are not worth your lent money even if they can’t pay their gas bill, rent or car note on time for some reason and expect you to give them some cash in order to bail them out of one crisis after another. Remind them kindly that there are particular payday advances which can be taken to cover such expenses fast and even via Internet.

Of course, these tips can seem to be rather harsh to some people, but it’s sometimes really necessary to muster up all your courage and just say “no”, because these financial boundaries with family and friends will help you to save the relationships, as a result, and to eliminate people who in fact care only about your finances.

This was posted in Bdaily's Members' News section by Emily Morgan .