Dealing with those who deplete your resources Part 2

By Faeza
08 August 2015

Most of us have a person in our life who causes us to spend more than we can afford to. Although we may care for them, we cannot escape the fact that every time we come into contact with that person our purses feel a little lighter.

“The good news is that, while you may not be able to change their behaviour, you can learn to manage how you respond to them,” says Cebisa Mfenyana from Metropolitan.

Cebisa offers advice for dealing with the financial foes in our lives.

Nagging Nosi

Nosi is the child who cannot take ‘no’ for an answer. “As parents, we wish we were able to buy our kids everything their hearts desire,” says Cebisa. “We should realise that not only does this place strain on our financial situation, it also doesn’t help them.”

Teach your child the value of money and the benefits of saving by letting them earn pocket money – you can decide whether to pay them on a weekly or monthly basis. “The first few times they are likely to blow it immediately, but over time they will learn the importance of budgeting and managing their own money,” advises Cebisa.