the art of saying no to enhance your financial status

Our calendars can be jam packed with birthday celebrations, weddings, brunch and just because happy hours. Text messages, phone calls and e-vites swarm our thoughts – and finances typically don’t drive our answers. How do we maintain our sanity and pockets?

Set personal goals keeping your finances in mind

One of the main questions you should ask yourself is, “how many events am I willing to attend that keep me on track with my budget?” This question allows you to reasonably account for events that not only fit in your schedule, but won’t have your accounts lower than your budget allows. Either set an events cap or allot a certain amount of money for entertainment. To avoid going over budget, use the cash method or create a checking account solely for entertainment. Once that amount has been used, you will have to wait for the funds to be replenished during your next pay cycle. Remember, you’re restricting yourself temporarily to achieve your financial goals.

Communicate with family and friends

Oftentimes the ones closest to us just want to commune and spend time together. If you are truly serious about exceeding your money goals, it’s important to be candid with your tribe. Instead of going out to eat, maybe opt for hosting a dinner, attending local events in your area or postponing until it aligns with a time where it works for the both of you. Communication is key, and while many of us don’t like to hear the word “no”, advocating for yourself and your finances is more than worth it.

Avoid falling into FOMO – fear of missing out

None of us like to miss out on the fun; but the reality is we can’t make every outing, vacation or impromptu meetup. To remind yourself on the tough days, post reminders on sticky notes that you can read multiple times throughout the day. This could be your bathroom mirror, fridge or in your room. Keeping your goals at the forefront of your mind will hopefully minimize the temptation to cave in.

How are you saying no to enhance your financial status?

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, and serves as an Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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