Expert advice on how to say no when people ask for me for money

A Kenyan finance and leadership consultant, Susan Mtana, has shared tips on how to politely refuse giving money to people.

Her advice followed a complaint from a man who expressed frustration over how often his parents asked him for money. He said he found it difficult to refuse them, even though it was negatively affecting his finances.

The man asked, “How do I stop people from asking me for money? How do I say no? I am always giving until I have nothing. I don’t give for wasteful reasons, but these cases are needy. How do I say no to people, especially parents, friends, and family?”

Mtana’s first response was that the man should create a budget and also accept that he cannot solve every financial problem that comes his way.

She said, “What I can advise is that once he gets the money, he should create a budget. A budget will guide him on how much from his salary he’s giving to his parents.”

“Even if there are needy cases, let me tell you one thing: you cannot solve all the problems in this world. So, you cannot solve everything. When he receives his salary, he should prioritise saving and covering his necessities.”

She went on to explain how he could divide his income so he knows how much he can afford to give.

She said, “He can follow a 50-30-20 rule, where 30% can be allocated for giving, charities, or discretionary spending. If he exhausts that 30% on giving, then he should just say no if asked for more.”

“He should not give what he doesn’t have. It’s important to remember that takers don’t have limits, so it’s up to him to set those limits,” she expounded.

“One important thing to remember is that you can’t control what people do; you can only control how you give. So, let him take charge of what he can control: his giving.”…CONTINUE MORE READING>>>