It’s hard to ask for money from family, but when you need it, the time is now. You’ll be surprised how much your relatives will be willing to help if you just take this one step.
In this post, I will share with you 10 steps to help you ask for money from family. This is a great way to help pay off debt, save up for a vacation or buy that new car. Even if your family members have no intention of giving you money, it’s never too late to try and get them on board!
It’s hard to ask for money from family. But if you find the right approach, it can be easier than you think. Finding a way that feels natural may take some time and energy but in the end your relationship will likely improve because of it.
Our team is ready and waiting to help with this process as well as give advice on how best to go about asking for loans or investment opportunities without offending anyone while also not coming across like an entitled brat who doesn’t know what life’s all about yet – which is something that happens more often than we’d care to admit around here! We are always happy to put our years of experience into action so don’t hesitate one second before letting us know!
Find the right time and place to ask
The first thing to do is find the right time and place to ask. Is it during a family gathering when the whole lot of them are in one room together? At dinner time with everyone sitting around waiting for their next bite on the plate? Maybe you should wait until after dessert, or first thing in the morning before they leave for work.
Don’t assume that there is always an appropriate opportunity!
Be upfront about how much you need, why you need it, and what you will do with it
Be upfront about why you need the money. Some family members might be more willing to help you out if they know what your plans are for how the cash will be spent.
Offer a timeline and an alternative plan
Don’t wait until it’s too late! You may not get another chance because some people do, in fact, have limits on their generosity when the are giving away money.
Ask for help in a respectful way – don’t be demanding or guilt-trip them into giving money
Always be respectful tone polite
Your tone should not come across as demanding or forceful. It is important that you phrase your request in a respectable manner to avoid offending other people. You should be grateful for the help and understanding if they offer it, thanking them before even asking how much money they are able to give so you can work out what amount would be suitable.
Keep your requests reasonable and manageable
Always make sure your request is reasonable. Make sure not to ask for too much money. Everyone has a different budget so make sure you are not asking for way too much money. Sometimes if you just need food for a week a $50 food budget can get you by!
Make sure to thank the person who gives you money for their generosity
The best way to thank someone for a gift is to show gratitude. If they give you cash, say “thank you” and that it’s more than enough or exactly what you need. It shows them how much their generosity means to you and lets them know how grateful and appreciative of their help you are.
Follow up on any promises made to show that they are being kept
Make sure you follow up with your family and pay them back. If you told your family that you would pay them back with interest, make sure to do so. If they gave money for a specific purpose and it was used for something else, offer to give the money back or repay the person in some other way.
If possible, offer an explanation when asking for more than one gift at once
Be grateful that they are willing to give and don’t make them feel guilty if they say no
Always be grateful and thankful for the help they are willing to give.
Don’t forget how much this means to you. Be appreciative of their generosity and share your appreciation with them
Show that you have thought about what they will need from you in return, or offer a gift as thanks if it’s not possible right now. This can be done by a thank you note or a small gift.
Just remember that if you’re going to ask for money, it needs to be done in a way that doesn’t make them feel pressured. It’s best not to approach this as the only topic of conversation and instead bring up other topics first.
If they agree with your request then move on but don’t let their refusal stop you from asking again later or at another time when they may have more space in their schedule. Lastly, keep in mind that even though we all want our family members’ support sometimes there are things happening outside of their control so just because someone is unable to give financially what does not mean he/she can’t offer emotional support which is equally important! Remember these tips before reaching out next time!