How to ask for money correctly in order not to get a refusal? Councils of a financial consultant

5 min read
How to ask for money correctly in order not to get a refusal? Councils of a financial consultant

We are all different. Someone constantly lives in debt. There are people who do not borrow or lend. Everyone has different views and life principles. Many people are afraid to lend large sums of money to friends and relatives, so as not to ruin their relationship.

There are situations in life when you urgently need money; we’ll talk about how to properly ask for a loan in the article.

How to ask for a loan without being refused?

1. First, decide for yourself the amount you will ask for and the time frame for returning the money

2. Decide for yourself through what sources you can return the money on time?

It is very important. If you say “I’ll give it as best I can,” then the chances of getting the required amount are slim. By accurately specifying the deadlines, trust in you and the likelihood of receiving the required amount increase.

Remember the saying “Debt is worth paying”? If you return the borrowed funds in a timely manner, you will not be refused when you apply again. And if you delay the return period without really good reasons, then you can’t count on loyalty in the future.

3. Determine the list of people to whom you plan to contact with such a delicate request

Think about which of them has the necessary amount? Find out first whether they give loans? There are people who, on principle, never lend money to anyone. It is useless to contact such people. But there are people who don’t want to appear greedy in other people’s eyes; they can understand the situation – and we’ll go to them. Choose the time when your friend received his salary. Consider the nature of your relationship – the closer and friendlier it is, the better.

How to ask for money

Another option is to ask for a loan from your boss or work colleagues. This has its advantages:

  • they know you at work;
  • the timing of receiving your salary is known.

Ask your boss if they can give you part or all of your salary in advance. This may be an ideal option because… then you won’t have to ask for money at all.

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Carefully choose the people you are going to ask for a loan from. Do not contact quarrelsome, dishonest people, people with a dubious or criminal past, so as not to get yourself into unnecessary problems and spoil your reputation.

4. Formulate your request correctly

It is better to ask in person. Find out how the lender is doing, see if he is in a good mood and proceed to the request: “I need your help. We urgently need money – $100 before April 15. Can you lend me a loan? Ask for a little more than you actually need. If you need $70, ask for $100. If a person begins to hesitate, then offer to lend you at least $70.

5. Prepare for additional questions

Be prepared to tell the person from whom you plan to borrow money the purpose and reasons for the urgency of your request. The reasons may be:

  • The need for urgent treatment.
  • Payment for training.
  • Salary is late, but you need to repay the next loan payment so that there is no delay.
  • Availability of promotions for the required product in the store, etc.
How to ask for money

For the person who borrows, the purpose and reason for the loan play a role. Tell the truth. Remember that deception can come out at any time, and your reputation may suffer. Be prepared to answer the question of how you are going to repay the loan, especially if it is a large amount.

6. If you are asking to borrow a large amount, offer to write a receipt

This will indicate the seriousness of your intentions to return the borrowed funds. And for your lender – an additional guarantee of receiving funds back.

7. If they refuse, thank your friend for their time and for listening to you

Behave with dignity – sometimes people can change their minds.

What to do if you don’t get a loan?

If you were unable to borrow money from any of your friends and acquaintances, try getting a credit card with a grace period from the bank. During the grace period (grace period for paying interest on a loan), the bank does not charge interest for using credit money. The main thing is to remember to repay the loan on time before the end of the grace period. And there are also more than 30 more ways to find money!

Grace period is a grace period for paying interest on a loan. When using the grace period, interest on the use of funds is not accrued at all or its value is much lower than the initial rate.
And the most important thing! Before you take out a loan, really assess your financial capabilities! Calculate the burden on the budget. If you have to pay more than 30% of your income on debts, this is a high credit burden on your budget. Can you live in constant saving mode?

And to avoid getting into debt, start managing your money! Plan and maintain a personal or family budget. Create a financial safety net – a reserve of money of 3-6 months. family expenses. Then, if unexpected expenses arise, you will not need to borrow money!

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Natalia Kolbasina
Natalia Kolbasina
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