How to ask your family for money (parents, father, mother, friends) | How do you politely ask for money? | How do I ask my parents for money without being rude? | How to ask your family for money examples | What to say when asking for money | Asking parents for money in college (school)
Hello friends, how are you doing today? Welcome to #Relationships-Parenting website / blog.
Let you and your well-wishers live a happy and prosperous life through out your life term.
In this website / blog, you will always learn about #Relationships #Parenting.
Also subscribe / follow to our various social media networks from here to learn more about #Relationships #Parenting:
Just before going to “How to ask your family for money (parents, father, mother, friends) | How do you politely ask for money? | How do I ask my parents for money without being rude? | How to ask your family for money examples | What to say when asking for money | Asking parents for money in college (school)“, let us know a brief, basic and very important information.
Few of the common questions with respect to this subject are as given below:
How to ask your parents for money | How to ask your parents for money for clothes | How to ask your dad for money over text | How to ask your dad for money |
How to ask your mom for money | How to politely ask for money from parents | How to ask my dad for money | How to ask for money from your dad | How to ask my parents for money |
How to ask for money (allowance) from your parents | How to convince parents for money | How do you politely ask for money |
How do you politely ask for money as a family | How can I get money from my parents | How do you convince your parents into giving you money | And many more…
Allowance to children : Allowance is money usually given or fixed by parents to their children at regular intervals for a specific purpose.
In case of children, parents may give money as allowance to their child for their various personal needs and expenses.
In today’s world, many parents are willing to help their children, including giving them money while they are with them. If you have a proper reason for asking money and your parents can handle it, asking politely and presenting a good plan to repay them will probably win their hearts.
Like a child, expressing gratitude and following through on your promises will put you in a better position and increase your chances of being provided with money if you need it again.
The person providing the money usually tries to control how or when that money is spent by the recipient so that it meets the goals of the person providing the money.
For example, an allowance (money) from a parent is motivated by teaching the child about money management.
And this may be unconditional or tied to the achievement of certain grades in school or college or the completion of one or more type(s) of work.
The person providing the allowance (money) usually specifies the purpose and may put controls in place to ensure that the money is spent only for that need or purpose.
The ‘American Institute of Certified Public Accountants’ study in 2019 found that the average allowance paid to US children was $30 per week.
List of the “How to ask your family (parents) (father) (mother) (friends) for money” is as given below:
Children’s past record needs to be considered : Do you depend on your parents for various favors or are you mostly independent? Your parents are more likely to provide what you need if you have a positive past record of being good and self-reliant.
If you regularly ask for money or you constantly borrow their bike or car and you don’t help them, they may not be in the mood to give you the things you want.
If you think your past record is a bit unhealthy, you should try to improve it before you ask for money or anything else.
Since you live with your parents, you can cook them a delicious meal, wash their bike or car and do other chores around the house to make your parents happy. If you don’t live with your parents, find other ways to brighten their day from wherever you are.
Answer your parents when they call you. They need you for various reasons. Don’t just call them asking for money on weekends.
Are you really out of the options : If all your financial options are empty and depleted and you can’t work out anything else. It’s time to consider how you would ask your parents, family members or friends for money.
Always remember that “honesty is the best policy” and “it pays to be prepared.” It is very easy to ask for money or borrow money from your parents or friends. But, when it comes time to give back, it’s really an uphill task.
Warm them up by casually mentioning that you’d like to set up some time to talk about your financial needs. Then, say, “Is it okay to meet you on a particular day and time?” Ask them if they are free and what works best for them.
Just because they are your parents or your best friend doesn’t mean you shouldn’t treat it like a business meeting. You should inform them about your needs in advance.
Your parents or friends will surprisingly find it difficult to know about the financial requirements. No parent or friend likes to be surprised when it comes to financial requirements. Give them adequate amount of time.
Preplan before asking someone for money : Sit quietly and figure out your needs and requirements. Reduce requirements and think only about your needs.
Pay maximum attention to your needs like bills and how much you are spending in a month on your (non-essential) requirements. Find ways to cut your unnecessary expenses and try to earn extra money.
Start a personal monthly budget to keep yourself on track each month. You need to know maximum possible information about your financial situation for smooth flow of your financial needs in your family.
For example, if you find that you are wasting too much money on dining out, decide to cook at home. Don’t buy any luxurious clothes or gadgets which are not at all required for you at this time.
Borrow only from trustworthy people : It is a common practice of maximum people to go to mother or father first for money. If your parents are happy with your behavior or if you have a strong relationship with them, then great!
You and the family member from whom you ask for money should be trustworthy and he/she should feel free to communicate with you openly.
Asking a distant relative would not be an appropriate way, unless the two of you have a close relationship with each other.
The more trust you have in your relationship with the other person, the more likely they are to give you a loan. You can talk to the person on the phone, but a face-to-face conversation is more effective.
Have a proper reason : You must always have a proper and genuine reason. Authentic intention with right purpose will show you the right path.
If your reason is well thought out and concrete, your parents or friends or relatives will be more responsive to your needs. Think about exactly why you need money? Always remember, it is very easy to borrow, but difficult to pay back.
Be prepared to make a case for yourself that your parents or friends or relatives will be happy to lend you money. For example, suppose you want money to buy a new computer.
Your parents will be more than happy to give you money to buy a computer if you tell them it will help you excel at your new job or do well in school or college, rather than saying you need it to play computer games.
If you need money to fulfill your basic needs like paying rent or buying food, be honest about why you’re in this critical condition. Your situation will probably tug at the heartstrings of your parents and they will surely help you.
Figure out a way to help yourself : Before you admit to your parents that you’re in a financial slump and could use their help, ask yourself:
How can I help myself before asking for help from my parents or friends or relatives? Can I survive on a tight budget? Can I find a better place to live? How to refinance my loan? Can I sell few of my items?
Some of you may have an embarrassing fear of asking money from your parents or friends or relatives. Instead of asking for money, you can use your free time and weekends to earn more money by pet sitting, baby sitting and freelance writing or any suitable job.
It may kill your social life for a short time, but you will definitely feel better than letting your parents come to your rescue. Finding side gigs that don’t cramp your style or take too much time is now much easier.
There are thousands of online and offline jobs that offer good amount of money. But you need to be careful while searching for such jobs online.
Be prepared to get rejected : When you are asking for money, it is important to remember that there is always a 50-50 chance that your request may be rejected.
Refusal is a difficult thing to handle, but at the same time it is very important to be prepared for it. Remember that your parents or friends or relatives also have their own shortcomings, problems or issues and they may not be able to provide you with help at this time.
You have to understand that even if your request is denied, it doesn’t mean you’re worthless or undeserving of help. There may be various reasons why someone may reject your request for financial support.
One reason is that they don’t trust you or think you can’t handle the responsibility of having extra money. Regardless of the reason, rejection can be difficult to accept.
To prepare for the possibility of being rejected, it is important to have an alternate plan in place. Make sure you have researched other possible sources of funding, such as grants, scholarships or loans from other sources.
It is important to remember that even if your parents or friends or relatives cannot provide money themselves, you can ask for help. They may be able to help you in other ways, such as psychological support, counseling or job referrals.
Don’t forget this – No matter what happens, it’s important to keep your head up and always be positive. Remember that rejection is a part of life and it doesn’t mean you did something wrong.
Instead, take it as an opportunity to reassess your situation and look at other possible solutions. If you are in the right path, with the correct preparation and attitude, you can always make the best out of any situation.
Financially unstable people can’t help you : You need to think twice before judging the people about their financial condition. Everyone have their own financial problems and therefore you should avoid asking for financial support from such people.
Take your own time to think about the other person’s financial situation. Asking someone who isn’t financially stable, doesn’t have a stable job, or has significant medical bills won’t be in the position to help you.
Try not to put pressure on someone who is already under enough pressure. Your best friend may be the person you trust the most, but not the person to ask for help when they’re struggling to pay their own bills.
Discuss and solve : You need money and sometimes only your parents have the resources to help you. Start by listing your goals and how you’re focused on improving your finances, which will show your future.
Tell them how you are working towards your goals and intend to reach your goal with their full support.
Before talking to your parents, you need to take some really important steps like: Reviewing your budget, reducing expenses, getting a loan repayment plan and applying for higher paying jobs.
Mention that you have made mistakes in the past but now want to go on the right path. This reassures your parents that you’re not just going on a spending spree and needing a bailout now.
Now that you’ve given them some context and established that you’re thinking maturely about your finances, you’re willing to ask for help, but still ask for advice, not money first.
Parents always love it when you ask their advice, so leave your question a little open-ended and see what they have to say. They may give you some valuable advice that you may not have thought of that could make a difference in your life.
How long will it take to repay : Evaluate your personal budget or business plan to calculate the time frame. It depends on the size of the loan and how much money you have and how much you are able to repay each month.
You may need to rethink about your budget and cut expenses to pay off the loan at the earliest.
For example, a small amount of money to cover dinner can be paid back within a week, but a large loan can take months or years to repay. You ensure that any loan amount is repaid as soon as possible without much delay.
Be respectful and show gratefulness : When requesting for financial assistance, it is essential to maintain respect and express gratefulness for the person’s consideration.
Whatever the situation, being polite and courteous will go a long way in helping you get the help you need. Below given are few tips on how to be respectful and grateful when requesting for financial support:
Be open and honest about your situation. Explain why you are requesting for support and the impact it will have on your life.
Send a thank you letter or call after receiving financial support. This shows that you appreciate the person’s help and acknowledge their generosity. Thank the person for their time and desire to consider your request. Saying this you appreciate their generosity shows that you value their help.
Always make sure to thank the person again for their consideration. Let them know that you are grateful for their help and that you recognize the sacrifices they are making for you.
Provide something in return : When you ask someone for money, consider offering something in return. If you do something in return for what someone else did for you, you do it because they did it for you.
It can be anything from providing services, goods, time or any support. When giving something in return, you need to make sure that the person receiving the request is happy and appreciates it.
Once you’ve decided what you’re offering in return, be sure to communicate it clearly and concisely. All these loans should be documented. Especially if it reduces the amount you have to repay.
Try to avoid taking loan regularly : There is nothing wrong with asking your parents for money. But it’s not a situation you want to do regularly or permanently. This has to be limited as much as possible.
Your parents should also save for their retirement and you should be independent and financially secure in your own right. Even if your parents say yes every time, take adequate steps towards earning enough money to meet your own needs, so asking for money doesn’t become a regular habit.
Continue to communicate with your family while you pay back. Stay in touch with your family members. Call them periodically as you normally would to update them on how you are doing.
If there is any difficulty in repaying the loan, mention that too. During this time, you may skip a payment or work out an alternative payment plan.
Finally, plan to pay it back : Even if it’s your Mom and Pop, even if they can absolutely afford to give you thousands of dollars, you should aim to pay them back.
Each and every loan should be formalized with a written agreement, a repayment plan and an interest rate at the minimum legal level, which is as dictated by government policies.
Government policies set a minimum interest rate known as the applicable federal rate. Once the money is in your pocket, you will feel relief and sometimes you may not feel like paying them back and showing your laziness.
But always remember that your parents will need money in their old age and will not be able to work as they are physically and mentally weak.
But as a son or daughter you must repay them back. You should not take it for granted because they are your own father and mother. But as a good son or daughter, you must repay the debt to your parents as soon as possible.
Final advice : Regardless of the reason and situation, asking for money can be an uncomfortable situation. However, if you need money for your future or you want to build your own career with the financial support of your parents, you can do it.
If you’re looking for advice on how to ask your parents for financial help, my best advice is to communicate with an open mind, be honest about your needs and requirements, and create a plan for repayment too.
Just taking a loan and sitting still is not the right way. You should and must repay the loan as soon as possible.
More information will be added to this on regular basis. Please visit this post and blog / website to know more about relationship and parenting.
Continue reading about:
To know more about “Husband and wife information, facts“, please click the below link:
Husband and wife information, facts
Dear friends, if you need any clarifications about this post, kindly let me know, I will definitely try to answer all of them.
Also add your COMMENT below, SHARE on different SOCIAL MEDIA networks.
This will help to know the quality of this content and also it will be helpful to know if any improvements is required for the content.
If you feel this content is useful to you and has helped you to improve your knowledge, kindly share this with your well-wishers.
Because “SHARING MEANS CARING”.
To receive FREE EMAIL SUBSCRIPTION about #Relationship #Parenting, you can send an email to [email protected] from your email ID.
Let you and your well-wishers live a prosperous, healthy and fearless life through out your life term.