Generally, you should avoid negative people who seek to steal your joy, light, or whatever. But haters are often close family members and friends – loved ones if you will. As a result, it’s hard to escape their misguidance.
You’ll find that haters are pretty crafty. They won’t explicitly state that you shouldn’t dream of becoming financially wealthy. Instead, they’ll attempt to disguise their foolish opinions as wisdom.
The various haters we’re about to discuss aren’t necessarily terrible people. They’re just terrible with money. Whether intentional or unintentional, these folks are itching to dole out bad financial advice. (You know their counsel is bad because they have no finances.)
So who are these haters? And how do you protect yourself against them?
The “Tomorrow Ain’t Promised” Hater
What he’s trying to say is “give it up.” His financial plan consists solely of spending his last dollar on his last day, and yours should too. Unfortunately, there’s a pretty good chance his money will run out way before his life will.
How to React - For this character, a strong defense will handily obliterate his poorly concocted offense. Simply acknowledge, “Yeah. Tomorrow isn’t promised, but according to this actuarial table, there’s a strong probability I’ll live 50-something more years.”
He’ll just keep repeating his same old tired mantra, “Tomorrow ain’t promised. Tomorrow ain’t promised.”
You’ve said your piece.
This one knows your efforts have paid off, and she’s looking to exploit them. In this hater’s mind, her emergencies fall under the umbrella of your emergency fund. She’ll emphasize the fact that she’s not asking you for money for frivolous reasons.
How to React - Don’t succumb to this tactic, and don’t offer her any sympathy. Refer her to the nearest government agency or local charity that deals with cases such hers. You and I both know, she’d have the money if she hadn’t blown it on a night out with her friends.
You gotta be careful with this one. He’s not as dumb as the others. After careful research of credible, respectable news publications such as The Economist and The Wall Street Journal, he’s concluded that the system is rigged in favor of the über-rich. He maintains that aspirations of wealth are futile unless, of course, you’re already wealthy.
How to React - Hear him out. Chicken Little will, if nothing else, inspire you to diversify your portfolio.
All his cash will be under his mattress. Soooooo, if you’re ever in a bind….
The “You Have to Live a Little” Hater
This hater erroneously equates those who are financially disciplined with those who are miserably miserly. Her house is bursting at the seams with stuff she’s never used and can’t afford. Any impulse purchase can be justified with the simple justification, “you have to enjoy your money.”
How to React - She’s hopeless. Just smile, nod, and get what you can get from her. When you visit, ask if you can have one of her four food processors or some other contraption you’ve delayed buying. There’s probably some extra meat in her freezer that you can use before it’s frost bitten.
This hater has an emotional attachment to her possessions, so convincing her to give you anything may prove difficult. Stay on her OR ask her husband if you can grab a few things when she’s not looking.
I assure you, she won’t miss them.
The “Living Debt-Free is Unrealistic” Hater
It’s one thing to shun a reasonable idea, it’s another to classify highly attainable financial goals as impossible. This individual is poisonous. He can clearly see people outside of his social circle realizing all kinds of goals and still feels hopeless.
How to React – If you have it in you to feel sorry for any hater, feel sorry for this one. Try to offer some genuine words of encouragement. Accomplish your financial goals, and show him how you did it. If he insists on wallowing in self pity, then “shake the dust off your feet” and carry on about your daily affairs. You’re well advised to limit your exposure to this particular hater if he doesn’t change his ways.
These are just a few things I’ve tried to cope with those who can easily derail our financial plans.
What types of haters have you encountered, and how do you deal with them?