How Saying No Will Make You Save Money

One simple word… no. Who knew how much power one word could hold in so many different aspects of life. The focus of this post is obviously how saying no can hold so much power in your wallet. Saying no can save you more money than you ever thought! Do you have a hard time saying “no” to people? Does this cause you to spend more than you like each month? This article is going to help solve those dilemmas.

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Saying no is a big step for people. By saying no you are able to put more money into your wallet. Sometimes saying "No" is necessary. Make no a complete sentence and put your money toward your budget.


Trust me, as a millennial, I especially know how hard saying no can be. Our generation is notorious for spending money in an instant, we love instant gratification. If you’re hungry, swinging through a drive-thru is an option 24-7 in most cases. Need a ride to get you to a destination, there is an app for that. If you order an item on Amazon, boom two days later it’s on your doorstep. These are just three examples of how quickly we can spend money. Learning the power of saying no can go a long way.


Saying no scenario #1

A group of your friends want to go out Saturday night. Someone orders a car service to pick you up. There is a cover when you get to the bar/club that you have pay. You need to cover the cost of your drinks for the night. Don’t forget to make sure you still have money for the car ride home. Hopefully, no one gets hungry and makes a late night-early morning run to a take out joint. You can see how the money for one Saturday night can add up very quickly. You could save that $50 and put it toward more important matters.

Savvy Option: Offer to be the designated driver. You can still have fun with your friends and not spend a fraction of the cost they will have to pay. Most of the time your friends will cover your costs for the night for taking one for the team.


Saying no scenario #2

Your co-workers want to order lunch into your workplace. Your dilemma is you brought your lunch, but it is not at all appetizing. In your lunch pal is a tuna fish sandwich because that is all you had left in your pantry. Chinese food or a burrito sound so much better than your boring sandwich. The strength of saying no or I will pass this time needs to be your next move. If you packed your lunch already, eat it! You are saving yourself around $10-$15 just by saying a two letter word.

Savvy Option: If you have said no to your co-workers a lot, there is a savvy option. Order something small like an appetizer, dessert, soup, or even just order water and go to socialize.


Other ways of saying no

When you do find yourself saying no, no need to be harsh. Be strong in your answer and provide a reason why if applicable. There are other ways to say no without being rude. When you find the strength to say no or something similar you feel so powerful. Your wallet will thank you!


Saying no savings

You have now been able to turn down different situations that have come up. Congrats!  Now ask yourself, what can I put my money toward that is a better option. If you are a millennial or fresh out of college, I would put it toward your student loan debt. How about starting a side hustle with your extra savings from saying no? You can put your extra money to work like starting a blog. Or even consider investing it for your future in a company like Personal Capital.

Make sure that you have a monthly budget and know where your money is going. If you are someone who is working on saying no that is perfectly fine. Just make room for it in the budget. If you can’t drive into work without saying no to stopping yourself from getting coffee, then slowly put it in the budget. Work toward it and celebrate when you do not stop.

Kelan and I have different experiences with saying no and it is connected to our personalities. My personality is more laid and if I say no I don’t feel any regret from missing out. Kelan on the hand is the life of the party. He has a very outgoing personality. For him, saying no is really hard because he feels like he needs to be involved #FearOfMissingOut. We have a good balance of spending vs. saving when it comes to saying no.


Impact other areas besides your wallet

Saying no can also be wonderful for your health. On my summer reads list is The Power of No: Because One Little Word Can Bring Health, Abundance, and Happiness by James Altucher. This book provides readers with how saying no can ultimately lead you to the best yes. It is a must read! Use the strength you get from saying no to be a fuel to power your life. Saying no can bring a freedom to you in so many ways! Just be careful in not becoming an always say “no” type of person. Life is short!


What is the hardest thing for you to say no too?

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