Why Saying ‘No’ Matters

Are you one of those people who just can’t seem to say no to anything or anyone? If you are you may not realize the impact it is having on your finances, not to mention your health. As parents, it can be particularly demanding to have children involved in recreation activities and organizations that beg for your help. As a single person or married couple without kids, people may often assume since you ‘have nothing better to do” you’ll have plenty of time to volunteer or plenty of money to donate. Guilt may guide you into to doing more or paying more than you really wanted but perfecting the art of saying nope may save you both time and money.

How so, you ask? Here are some tips for saying no and better manage your time and money:

Saying No To Money Requests

Guilt is the driving force behind people’s inability to say no to others. In our lifetime, we will likely be asked to do a number of things we feel obligated to do. While we may always feel obligated, we might also feel uncomfortable doing the things we can’t say no to, especially when it comes to finances.

Have you ever been asked by a friend or family member for a loan? Do you regularly donate more money than you have for your kid’s fundraising efforts? Have you spent money you didn’t have because of peer pressure? Situations like these may seem out of your control but if you begin to practice the art of saying no, it will get easier.

Many people spend more than they can afford because they want to please others and be helpful. However, with the current state of the economy it is becoming more socially acceptable to say no when confronted with financial requests. Be upfront about your inability or unwillingness to lend money or cosign a loan. The longer you wait to tell someone no, the harder it will become. When it comes to school or extra-circular events spend only what you can afford and teach your children to focus on the benefits of helping others rather than the prize at the end.

Saying No to Time Wasters
Just like money is an important aspect in life, time is also something that is precious. Volunteering your time to help others is a wonderful concept but in some cases, people end up being taken for granted.

If someone you know asks you to help when you are operating at full capacity, don’t be afraid to say no. Outside of a life and death emergency, people will usually be able to make other arrangements and learn not to rely on you for everything. If you find that you have overcommitted yourself to too many projects, you need to sit and contemplate what activities you can drop from your schedule. Don’t let guilt be a factor. List your priorities, like family, work, school, and church and decide what activities can go. Over-committing yourself can be a drain on your finances and your health if you are taking care of your responsibilities.

Learn how to start saying no from the get-go when you are feeling too stressed out. It will not always be easy to refuse requests for help but for your own well-being and health, you need to practice the art of no.