How to Deal With a Moocher
Do you have a kind heart and find it difficult to tell someone who is asking you for money that you need to stop? It can be very hard to tell a friend or family member that you cannot give them anymore money.
Dealing with a moocher can be stressful and hard on your health. One way to help you think about this difficult matter is the financial impact on yourself. If you are helping someone financially and you have an emergency, are you going to be OK? Do you have an emergency fund saved up? My recommendation is to have at minimum a year and a half emergency fund before even considering giving money. It is amazing how fast you can burn through it after losing a job or finding yourself in a medical emergency.
To you your friend or loved one may not seem to be a moocher. In fact, it may be a term that you have never applied to this person. But are they? Can you really afford to keep giving money to someone who constantly asks for it? Let’s say you are at work and are going to lunch and a co-worker constantly is leaving you to pay the bill? Or, all of a sudden they seem to innocently say, “Hey, I have forgotten my wallet, can you pay and I will pay you right back?” But, once you get back to the office, they never do. It can be an embarrassing situation for you and them. You may find yourself ending up paying just to get the embarrassment over. But, is it really fair to you who is working hard to pay for someone else. Isn’t it true that they are working too so they just don’t want to give up their money?
Once you start giving to a freeloader, it can be very hard to get them to stop. Some of us do not have the heart to tell them no either. My recommendation to you is to limit your contact with moochers for a time. I also recommend you do a thorough examination of your own finances. When you see that giving can end up hurting you or that you really cannot afford to be supporting someone else, it may help you muster up the courage to tell them you can’t help. Looking at your own financial situation and being honest with yourself is important. It is good to have a giving heart, just make sure you are not hurting yourself in the end.
