6 Tips To Say NO To Family And Friends Who Wants To Borrow Money

Saying “NO“ to your family and friends is one of the hardest things you will ever have to do in your life. Saying no when you’ve been ask to take care of their dogs for a few hours or watch their things for a few minutes is hard. But the difficult part is to say no to your family and friends who wants to borrow money from you. It’s awkward to say no to your loved once you want to lend money from you because your relationship can be ruin. What is more awkward is when the one who is borrowing money from you is a friend or family you still have an unpaid loan from you? 

6 Tips To Say NO To Family And Friends Who Wants To Borrow Money

1. Make it Your Rule

Make it your rule not to allow your family and friends to borrow money from you. Making it your rule made it easier to say no. When your family and friends realize that you allow no one to borrow money from you, they will stop from trying. 

2. Be Direct and Brief

When saying “No” make it direct and brief. don’t go make long excuses to justify your decision nor go into details about your finances. A simple “I’m sorry, but no” “I’m not in a position to lend you money” or “I don’t feel comfortable doing that” is okay as long as it is not rude and is not providing an opening for future requests. If they insist on asking you, repeat your answer. It is YOUR MONEY you don’t have to justify to anyone how you are using your money. 

3. Ask for Time to Decide

If you are caught by surprised by your family and friends who are asking you to lend money to them, tell them you will think about it and have an answer within 24 hours. Being in that position makes you feel uncomfortable and you might be pressured that you eventually gave them a quick yes just to ease the pressure you are feeling. Giving them an answer later through an email or text is easier than telling them in person.

4. Offer to Help in Other Ways

Even though you deny them from borrowing money from you, you can offer help in other ways.  One time, my friend asked me to lend her some money. I don’t have money so I informed her regarding an app that many people are using when they needed to make an easy loan.  Though it did not help her at all, but I’m still thankful that I made that offer. After she told me she will no longer make any loans because they have many loans already, I realized that she has no intentions of paying the money she wants to borrow from me at the promise day at least. 

5. Give Money as a Gift

If your family and friends need a money and you have extra, you can give them some of your money. I’m not saying give them the exact amount they want to lend but rather, give them an amount you can afford to lose and is an extra to you. 

6. Don’t Disclose Financial Details

Don’t disclose financial details to your friends and not even to your family. A vague answer such as “We have enough” or “We are doing all right” is enough. Then having an idea on how much you earn or any financial details may open an opportunity to pressure and requests to make a loan from you.  People is more justified to ask for a loan from you if they know you have a hundred thousand peso savings than knowing nothing at all.


The tips given above helps you keep your relationships from your family and friends intact. Having them leading money from you is uncomfortable. But it’s your money. You decide, if you want to lend, to give or not. 

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