Learn How to Say No - it's your money
Our ability to manage money rests in part on us learning how to say no to competing demands. The spouse wants this, the boss wants that, your friends are asking for something else, and your kids are clamoring for things all the time.
And, we haven't even begun to talk about what the neighbors and the government want.
Each of these can be a competing demand that effects your ability to go about managing money effectively. You'll need to learn how to handle the demands.
It's not always easy, but it's always required. If managing money is going to be one of your strong suits, you have to know how and when to say "no" and sometimes "no way in hell."
There are a range of techniques, and sometimes we just have to:
- walk away
- run away
- head it off
- reason and explain
- eliminate potential
- minimize the effects
- accept and compromise
- make exceptions
- draw a hard line
- beat 'em at their own game
There are many approaches to handling competing demands, but you'll have to be good at it or you'll start to crumble bit by bit and before you know it, you're in a money mess - all because of competing demands.
A key to managing various demands is the ability to prioritize spending so your spending is focused on a demand that is important and urgent, rather than just something that appears to be urgent.
Let's look here at how we might handle managing money in the middle of a sea of competing demands. How about lending money to a friend? Is it any less demanding when you're considering family loans for those who come calling? If you're having trouble with the whole idea of lending money to others, you might want to review my take on personal lending.
Remember, it's your ship, it's your voyage, and you're the captain and crew as well, so you have to learn how to say no to competing demands, or suffer the consequences. Often, the consequences of not being able to say no include more and more competing demands on your income.
Done with Learn How to Say No, back to Managing Money