How to Handle Money Moochers

6 Tactful Ways to Say No

Do you have a problem with people wanting to borrow money? Would you like to learn how to say no and not feel guilty? 


Money Moochers are people who frequently ask for a money to solve their unforeseen emergency.

If you are on the path to debt-freedom, or just trying to save for your own potential emergency, it can be difficult to say no to someone you care about when they ask for money.

Lending money is a major cause for family and friend disagreements. In fact, 1 in 5 friendships end because of money arguments. It gets worse when borrowing from family members.

I remember borrowing money and feeling self-conscious about not paying the person back as quickly as I wanted or promised; I avoided the person until I could make good on my debt. On the flip side, I found that every time I saw the person who owed me money, that was all I could think about.

To prevent this from happening, below are six effective ways to deal with a Money Moocher.

  • Lender: Wait 24-48 hours before responding. If you are asked for money from a family member or friend, the first rule of thumb is to think about it. Do not object or commit immediately. Tell them you need 24 -48 hours to think about their request.During this time, realistically determine your ability to commit. If lending them money         jeopardizes your financial livelihood and ability to maintain your responsibilities, the answer is always no.
  • Lender: You must consider it a gift. If you decide to lend money, make sure you can afford to give it away. Relationships become strained when the borrower does not pay back as promised.  Sometimes the borrower either was not honest about their ability to pay on the date promised, over extended on their commitment, or things just didn’t workout as they hoped.; so if you say yes, expect nothing in return.
  • Lender: Learn to say no without explaining.  For some people it is difficult to say no. If you say, “no, it’s not in my budget this month,” or “I am unable to ” is enough.  If they stop communicating with you because you didn’t give them the loan, then not only did you save money, but you eliminated a fake friend and possible Money Moocher.
  • Borrower: Do not overcommit. When asking for a loan, make sure that you can pay it back on the agreed upon date. To keep yourself accountable, write a contract that outlines the terms of the loan, and keep your word! If circumstances change and you cannot pay as agreed, communicate with the lender immediately.
  • Borrower: Determine if it is a loan or a gift. You must be honest with yourself first. If you need the money and cannot pay it back in the near future do not use the word loan; just simply ask. Honesty removes the potential for a strained relationship or break-up of a good friendship or family relationship.
  • Borrower: Be okay with no. Denial of your request should not result in you becoming angry with your friend or family member. Because they have the money does not obligate them to lend/gift it to you. Also, they do not have to explain their reasons for not granting your request. You do not know what people are experiencing in their financial lives; they may have commitments that are more important or themselves be in a financial crunch.

Money Mooching is the cause of many failed relationships. Following these simple rules will prevent arguments and break-ups, in most cases. The best defense against becoming a Money Moocher or Moochee, develop, and live on a realistic budget.

Contact me if you need help developing and sticking to your budget. Email: DrApril@Broke-ism.com

Please note: I reserve the right to delete comments that are offensive or off-topic.

Leave a Reply

Your email address will not be published. Required fields are marked *

2 thoughts on “How to Handle Money Moochers

  1. Pingback: Maria Smith