One of the most common things we teach when we give people a new perspective on their money is the importance of learning to say “no” in your personal finances. Whether it is to say no to debt, children, parents, or even spouses or themselves, learning to say “no” is a key step to regaining control of your finances.
Saying no can be quite difficult at times, especially if you do not do it very often. However, the more often you do say it, the easier it will get. There are a few things you can do financially that will help you say no. The first is doing a monthly budget. Developing and following a monthly budget helps you say “no” to your overspending by laying out where you are going to be spending your money before you get it instead of wondering where it went at the end of the month. The next thing that you can start using is the debt snowball method as a way to pay off your debt. By being disciplined and putting down extra money on your debt, you will be saying no to debt.
Remember, when you say “no” to something, you are actually saying “yes” to something else. Not only can saying no help you out financially, it can also help give you a self-esteem boost as well as give you a bit of confidence in other decisions that you make. So if you have not said no in a while, why not go ahead and practice saying no in the mirror? It is only a two letter word, but learning how to say and apply it to your personal finances can change the way how you handle and view your finances.