How to Ask for Money Politely - Tips & Tricks
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Let’s say you’re out of cash. It’s no shame, and we’ve all been through this. So you need money, and you think of options: you can ask someone for money, from a friend who you know has more money, or you can opt for a guaranteed approval payday loan from a lending company. What is it better to do? Let us tell you what we think about this matter! Discover our advice on how to ask someone for money before going to financial institutions.
It can be tempting to ask someone for money. After all, if not family or friends, who can help you when needed? But you have to think very carefully if you can pay your borrowed money back on time. For that, you have to make a budget! You can afford to pay it back, and you can cope with what might happen if you can’t.
Pros & Cons of Borrowing from Relatives & Friends
The advantage is that family or true friends do not work with the scoring and give you cash immediately, often without interest. That is much cheaper than a bank. But be careful! If you borrow from a close person, be aware that if you do not give him your loaned money back, this can lead to a friendship break. Moreover, the friend will spread the news that you do not pay your loans, and most people will bypass you. And that’s a huge disadvantage!
According to Howard Dvorkin, the CEO of Debt.Com, if you decide to borrow from your family or a friend, make sure you have a budget in advance to see how much money you have left after paying your current expenses. Make an average of the expenses you make each month and then move on to budgeting. Make sure you do not borrow too large sum, which you will not pay money back later.
It is very stressful for you too, but especially for the one who gave you the cash to see that he is left without them. If something unforeseen occurs and you have difficulty paying the debt back, notify the person who gave you the money immediately. It’s proof of honesty, believe us!
Asking for Money a Text Message
If you don’t like talking to a person, face to face, start by writing an honest and simple message to the people you want to borrow money from. It is one of the simplest and effective ways to ask for money politely and think about every word. To make your task easier, we’ve got here some advice to follow while writing the text of the money request. Let’s take them one at a time!
Begin with a Warm Salutation
Like any message you write to family or friends, it should contain a simple greeting before starting requesting money. Politeness and good manners will help you when you want to borrow money. A simple “Hello, dear” or “Good evening, mate!” can lead to a pleasant discussion and satisfactory results later.
Express Your Gratitude
Gratitude is a positive feeling that a person feels towards another person when it has done him a favor or a gift. To be content includes a moral duty and an appreciation of one’s help.
Gratitude strengthens social ties by connecting individuals through their actions and reinforces the feeling of belonging. You can thank that person for everything they have done for you. Remember all the challenging moments that you overcame and say an honest “Thank you!”. It will make the person feel special and overwhelmed.
Tell an Honest Story Why You Need Money
The psychology of stories has been studied for over 60 years, and its implications for human development continue to amaze. There is a primary human need to tell and listen to stories that influence us all, storytellers or listeners. But you should tell an honest story to convince the person that you need the money. Explain your difficult situation in simple words, and don’t overdo it with pity.
Expose Your Future Plans
And again, we recommend that you rely on sincerity. Explain to your interlocutor why you need money, how you will spend it and when you will pay the debt back. It probably seems to you that the interlocutor should not know, but to convince him, it is welcome to assure him that your plans are worth this paid money.
Describe Your Demand Politely
Politeness is a virtue. It refers to respectful behavior, following good manners, towards other people. From a social point of view, politeness belongs to behavior, and from a sociological point of view, it belongs to social norms.
First of all, politeness is a personal value. We are told that we must be polite if we want to live with other people from childhood. For everyday life to be possible, it is essential to keep these rules in mind at all times. That is why you should follow this concept once you decide to ask for money. It is the best way to get a positive result.
And Finally, Call to Action…
Usually, a call to action (CTA) is used in marketing to make consumers act, for example: to download an ebook, to buy something, to apply for a loan, to sign a petition, etc. But you can observe CTAs also in daily life. It is a psychological strategy that makes people act as you wish. Don’t confuse it with manipulation, even if there is a thin boundary between these two concepts. Choose an excellent call to action that will help you get the money as soon as possible. For example: “Please, borrow me $500”, “Help me with this amount!”, or “Give me please $200 till my payday!”. Thus, the interlocutor will know exactly what to do.
Extra Persuasion Tips in Asking for Money
If you tried all these tips and something went wrong, consider additional advice and follow them as accurate as possible:
Rely on Positive Emotions
Emotions are short-lived emotional feelings of varying intensity, expressing various reactions to situations and events in which we take part. The beneficial effect of positive emotions in money text messages has been talked about for the last ten years, at least.
Psychologists, psychiatrists, sociologists, and doctors of various specialties have always issued theories and hypotheses about how pure emotion, really positive, helps us maintain a good inner balance and the world around us. Try to express only positive feelings in your money text messages even if your financial situation is unpleasant. Your smile and positive mindset will ensure satisfactory results.
Write a Very Personal Request
First of all, your money text message must be warm, personal, and convey sincere emotions. The text should include under its umbrella all those words in which you put your soul on the tray, you expose yourself in front of the reader, and you let him see you vulnerable, imperfect, with fears and uncertainties. Or those money text messages in which you debate opinions, advance ideas, tell your financial dilemmas (and not only).
Assess Your Repayment Risk
When it comes to spending, we are all different. Some are pretty spendthrift, others quite thrifty, some quite impulsive, others quite cautious. It is up to each of us to take care. But if you can’t organize your expenses and pay back your debts, the consequences can be severe. In addition to worries and stress, we risk budget slippage, i.e., falling into expensive or even uncontrollable debts. That’s why it’s helpful to assess your repayment risk together with the personal finance expert, adjust if necessary, and see if you live up to your expectations.
Don’t Make Asking for Money As an Obligation
The conversation is a lively exchange of views between two persons who respect and value each other. To always obligate your table neighbor to make something means to behave like a selfish person, not an interlocutor. The same is true for those who retain from the conversation only what interests them and do not miss the opportunity to force them to do small services or provide cash gifts. That is why you should ask for money very politely and don’t make asking for money an obligation.
If You Don’t Want to Write, Call
Introverts love to communicate through text messages because writing words gives them more time to think. Meanwhile, extroverts are prone to making more phone calls to get what they want. If you are one of them and don’t like money messages, you can call your family member or friend and discuss in a call if you know exactly what and how to tell him.
Have Plan B
When plan A fails, don’t be sad. The English alphabet has 25 more letters. You could use them all if the first plan didn’t work. If your close friend, sister, or aunt has refused to lend you enough money, rely on quick alternatives, such as payday loans or cash advances that you would pay back in lump sum on the due date or on your next paycheck. Direct lenders will provide you cash within 24 hours directly on your bank account.
Make a Personal Loan Agreement
Loan agreements are binding contracts between two or more parties to formalize a lending process. There are many loan agreements, but we will speak about the simple loan agreements between individuals, such as between friends and family members.
Loan agreements usually include terms and conditions, the complete amount of loan, payment plan, collateral (if needed), interest rate terms, and the term the loan amount must be repaid. If the repayment date is due, the lender should collect money you owe after the simple reminder was ignored.
The primary purpose of a loan agreement is to define the arrangement of the parties involved, what responsibilities each party has, and how long the contract will last. A loan agreement should be by state regulations, protecting both the lender and the borrower if both parties do not comply with the agreement. The terms of the loan agreement will differ depending on the type of loan. You can find a lending agreement example on the internet, print it in two copies, and give it to your lender.
Situations to Avoid While Asking for Money
The problem of money always causes inconvenience. It is highly inconvenient to talk about it, but you have certainly been in specific financial crises and have been desperately looking for money, either from friends or relatives.
Don’t Wake Up the Feeling of Pity
The kindness of heart that takes over the suffering and problems of others, the desire to lend money or a helping hand, regardless of the guilt or innocence of a person – this is what mercy means. The basis of love for one’s neighbor, the presence of which helps to save lives and solve other people’s problems, show understanding, help another, and save a neighbor from difficult circumstances. But it is not good to wake up the feeling of pity because it can lead to the interlocutor’s denial after some time.
Don’t Disappear After Borrowing The Money
It is not polite to disappear after borrowing money from relatives or friends. They need to know that they have helped you in solving your financial problem. You could keep them posted on your progress and let them know how you’re doing. Or even better: have a bilateral discussion and ask them how they are doing.
Don’t Get Upset If You Were Denied
Do not show your interlocutor that you are upset about the refusal. It is not proof of good manners to show your anger in case of refusal while asking for money. Write a message or call and assure your true friend or family member that you have a backup plan to solve your financial problems and keep in touch with them even after this denied for loan. Plus, ensure that the relationship didn’t break because of the refusal.
To ask someone for money is a little bit challenging. If there is no alternative that you would choose or if you don’t want to have problems with your friends or family members while asking for money, consider loan products from direct lenders. This option would help you avoid unpleasant situations like quarrels or claims in text messages. And don’t search further and don’t feel guilty. Apply on our website, provide the personal and account details and we will connect with thousands of lenders from your state. We promise, you’ll get an instant approval decision even with a bad credit score, reasonable interest rates and no hard credit checks.
Mike Lefler shares his interest in a wide range of different subjects, including his love for finance-related writing. The passion for writing, related exceptional skills and his years of study, along with a Master’s Degree at Southwest Minnesota State University led him to become one of the brilliant authors in the massive finance arena and in the area of Financial Planning and Lending Industry.
At the same time, his ability to identify the main points of various aspects and intention to significantly contribute makes him a great team member and a valuable part of 1FirstCashAdvance.