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One of the unspoken reasons that many women can’t save is because they have unofficially been identified as the family ATM.
Now there is nothing wrong with being with being generous when you can. But all too often, women are giving money that they can’t afford and are suffering in silence about it.
So for today’s lifework, we are going to give you a few strategies on ways to protect your pockets as well your emotions.
Strategy #1: Just say “no”
This is probably the most straightforward way of dealing with the issues. But for ladies new to financial self-care, it can also be the hardest. If you have the moxy to do so and stand firm in your no, then use this strategy often.
Strategy #2: Have a prepared phrase that is at once vague and specific enough to let them know that you ain’t gonna come up off your cash.
Here is my favorite: “Sorry, my finances aren’t allowing me to do that right now.” And if you can push yourself to get comfortable with an awkward silence, you will be empowered to use this structure in other areas of your life.
Strategy #3: Craft a firm email.
If you are not light on your feet when it comes to having conversations about money, use technology as a buffer. Get your thoughts together about what you want to say. If you need to save it in draft in order to revise and edit over the course of a few days, then do so.
Once you feel that you have conveyed your feelings, expectations, and limits, press send. The beauty of technology is that even with an immediate reply from the recipient, you can respond at your own pace.
Strategy #4: Play defense.
If you agree to lend money, don’t be so fast to dish out the money without a paper trail. You are well within your right to draw up a contract that specifies how much was borrowed, when it will be repaid, and the consequences for failure of repayment. Sometimes this conversation alone will make them back down from the ask. Giving details about how you will be repaid will be too much of a hassle. (Go figure).
So, which of these strategies resonate the most with you? Why? What else could you say or do to say “no” to financial requests?
How will you say “no”? Share your strategy in The Happy Finances Community.
That’s it for today’s lifework!
Also, leave a comment below with your “aha” moment or reach out to your accountability partner(s) for questions and insights.
Finally, hit me up and share your insights. I’m cheering you on.
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