Friendship and relationships have great importance in our society: It is often seen that people do not hesitate in asking for financial help or loan under the guise of this relationship. Although you should help your loved ones, but some people who repeatedly ask for loans can put you in trouble. Many times it happens that even if you want to, you are unable to refuse people asking for financial help, even if you yourself are not short of money. Let us know what is the right and respectful way to refuse such people.

If someone asks me for a loan, how can I refuse?

1. Speak honestly

If someone repeatedly asks for loan, then talk to him directly. Explain to him that at this time your financial condition does not allow you to lend further. People understand things said honestly better. With this you will be able to express your views clearly and will also be able to refuse without lying.

2. Apologize and explain your boundaries

When a friend or relative is repeatedly asking you for a loan, politely refuse and let them know your limitations. You can say, “I'm sorry, but I can't help you financially right now.” This approach can help you properly address your inability to cope without harming your relationship.

3. Mention important tasks

You can tell your friends and relatives about your financial plan and needs. For example, if you are focusing on your children's education or other important household expenses, they will understand your responsibilities. This way your priorities will be clear and the other person will also be able to understand it.

4. Maintain distance slowly

If the person in front of you keeps asking for loan again and again and you are unable to refuse him, then the right way may be to gradually distance yourself from him. You can avoid his words by making some other excuse. However, take this step only when all your efforts have failed.

5. Make clear rules

You can clearly tell your relatives and friends that you are not comfortable lending money. Sometimes having clear rules keeps people from bothering you unnecessarily.