Not everybody likes to deal with money, because money is always a hot topic no matter who you speak to. The thing is, there are times in life where you may need to ask for some help with money, and even if you don’t like asking for financial help, it is there. It just isn’t always obvious. It’s not like you want to ask your relatives for help with buying something you don’t need, but you want to ask for help with the things that you do need.
A certified financial planner, for example, can help you with larger investments and what to do with bigger amounts of money. But what if you need help immediately from friends and family? Let’s take a look at some of the ways that you can make the conversation about asking for financial help as easy as possible.
- Figure out what your needs are. You may feel more comfortable asking for help when you have a clearer picture of your needs.It’s from here that you can ask for help tackling your number One Financial priorities. If you’re feeling swamped with student loan repayments, for example, you can ask a financial help from your bank, from the financial team at your university, and more.If you have debts, then you need to think about which debt carries the highest interest rates so that you can make this the first destination for any potential financial help you can get.
- Don’t rush into it. If you know somebody well enough to ask them for financial help, the chances are the situation isn’t really a secret. It means that you have already shared with your friends and your family that you are struggling or that you need additional help every now and then. Talk to the person listening to you about what you’ve been going through and what struggles you’re dealing with, because the chances are high they may have already had the struggles of their own and would understand exactly where you’re coming from. If you’re struggling to put together money for your rent or for a down payment to move to a new place because you’ve realized it’s cheaper to buy, then asking for financial help can be seen as a gift. And that can help you to ease into it so that they know you’re not just asking them for money.
- Explain what’s at stake. No matter who you’re asking for money, talk to them about what’s at stake If you don’t get the help that you need. For example, if you’re asking for help to move into a new place because you’re getting out of an abusive relationship, then let them understand what it means. If you don’t get their help, it’s not emotional blackmail, it’s making sure that the person. Listening to you has all of the information that they need.
- Have a plan. You want to know that the money isn’t going to be wasted, and so will they. If you’re borrowing it, making sure that they know it’s going somewhere good is important. So make sure that you have a plan and you tell your friend or relative how you’re going to be allocating their gift or how you’re going to be paying them back.
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