Life Insurance
How to Say No to Friends and Family That Borrow Money
How to Say No to Friends and Family That Borrow Money
17 Jan 2020

By now you probably noticed that January is in its 4th month. Your budget is stretched to its last cent, and you are just trying to make it to February with your wallet and your sanity intact.

However, you receive a text or a call from a friend or a family member asking you to lend them money. 

The hardest thing to do is telling them no, even when you have a valid reason to do so. Lending a friend or family member money can create problems down the line where the money is not returned, or it can take you out of budget. Sometimes we simply do not have enough wiggle room in our budgets to even lend. So, how do you say no instead of lending on a resentful yes?

Keep it short and simple

Sometimes all it takes is a no. You do not have to go into a long-winded story or justifications about why you cannot lend them the money. You can be direct without being rude by using statements such as “I’m sorry, but no” or “I am not in a position to lend you money.” Remember that it is your money. Therefore, you do not have to justify why you can’t lend them the money.

Start your online quote

I am a
and was born on

I am a
per month
Live quotes happening now.
Live quotes happening now.

You can offer to help in another way

There are other ways that you can help a friend or family member instead of breaking your budget or taking out a loan on their behalf in the hopes that they will pay you back. You can offer to provide food, financial advice, budgeting tips, or transport if they need it. You can ask them if they need help in any other way, but keep in mind not to overextend yourself by providing something you will not be able to provide or making promises you can’t keep.

Saying no can be the hardest thing to do, but it is something that can benefit everyone in the long run. They may be disappointed or angry at your response, no matter how gentle or kindly you will place it. Always keep in mind that you can’t pour out of an empty cup!

Need more information on MiWayLife? Read about our life insurance product, or get a life insurance quote in 30 seconds. Alternatively, call us on 0860 64 54 33 .
Related Posts
Life insurance reimagined
Cover for everyone under one policy.
From a brand you can trust.
Give us a call
0860 64 54 33
MiWayLife Coronavirus Notice – Learn More
Terms and conditions apply. Eligibility, cover and benefits are determined on individual risk profile. MiWayLife is an authorised FSP (No. 45741) and its product offering is underwritten by Sanlam Life Insurance Limited, a registered long-term insurer. MiWayLife is a division of Sanlam Life Insurance Limited - Reg No. 1998/021121/06