Mastering the Art of Declining Money Requests from Loved Ones

A financial therapist advises setting clear boundaries when family or friends ask to borrow money, as lending can strain relationships. It's important to assess if you can afford to help without jeopardizing your own finances. Offering a smaller, affordable amount can be a compromise, and communicating your financial obligations can help. Feeling guilty is normal, but writing down your financial goals and boundaries can reinforce your decisions. Maintaining these boundaries is challenging but crucial for achieving long-term financial stability.