Tips

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

November 3, 2024

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A Kenyan finance and leadership consultant, Susan Mtana has given tips and advice on to respectfully refuse to give money to people.

Her advice came about after a man poured out his frustration on how often his parents were asking him for money and he couldn’t refuse, tho it was having a toll on his financial situation.

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 advice to this question was that, he should make a budget on his money and he should also keep it in mind that he cannot solve every financial issue that is brought to him.

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.”

Going further, Mtana gave tips on how he can apportion his earnings so he knows how much he will be spending when it comes to giving.

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.”