Never ask to borrow money from a friend or family member. If you do, you're likely asking for trouble.
It is crucial you're being honest about why you need the money. After all, asking someone to lend you money assumes a certain level of trust between you. By not being truthful about your reasons, you're breaking their trust. Doing so could mean changing the course of your relationship.
Porter said that asking a friend to lend you money is an etiquette no-no. You may borrow money from a family member under certain circumstances, but if you do, have “a written plan and timeline to pay it back and offer to pay a small interest rate or whatever the 'lender' stipulates,” Porter said.
If you are owed money by a friend or family member, asking for your money back can be difficult. You may not want to upset that person or cause awkwardness, but it's a necessary conversation. Although it might make you uncomfortable, it's not as bad as being left out of pocket.
Reasons you may feel so awkward asking for money back:
It's still weighing on your mind, and they are still taking forever to pay you back. Some feel it implies you aren't generous enough with your purchases, but put it this way; you did them a favour to make it easier than putting through two orders.
“A red flag is if they are borrowing money to make ends meet,” Carson said. “This could mean that they are overextended on their credit or don't manage their money well.
There are certain situations in which a friend or family member might approach you to borrow money. For example, you might be asked for a loan if they: Need money quickly to cover an emergency expense. Lack sufficient credit history to qualify for a personal loan or line of credit.
But in some circumstances, when times are hard, it is okay for the man to ask for money from the woman, or actually accept it if he knows that she knows that he is in a bad spot. This is as long as the woman does not start to think she now “owns” him, which is usually the fear for the men.
You can say, “Would you please lend me some money?” to borrow, and “Is it possible to repay the owed amount now?” to ask for the money you lent. While asking for a loan, you should mention the specific amount, when and why you need it, and of course, when you will return it.
Here are some examples:
I asked her if I could borrow some money. I asked her if she could lend me some money. Did you borrow it from her?
It can be tempting to ask friends or relatives to lend you money. But you need to think carefully about whether you can afford to repay it, and can cope with what might happen if you can't.
The most basic loan agreement between family and friends is often called an "IOU." These informal agreements are typically for small amounts of money and simply state the dollar amount that is owed. They do not include any interest provisions and may not state when payment is due.
He is manipulative.
Manipulative behavior is a major red flag in men because it implies that they are trying to control you. Manipulation typically involves someone exploiting someone else's feelings or insecurities to get what they want. They might do this by making someone feel guilty or ashamed.
Missing bill payments or not paying them in full is the No. 1 financial red flag identified by the survey. “Developing the habit of paying your full balance by the deadline will serve you well in the long run and prevent accruing late fees,” Hines Droesch said.
"Things like being overly secretive with your money, lying about spending and refusing to share financial information with you are red flags," Victoria said. Financial abuse can also occur in relationships.
01“I hope you're doing well. Just a quick reminder that I'll need that cash I loaned you the other day for [insert what you need it for]. Let me know if I'll be able to get it by [insert date].”
Ask someone close to them to remind them
If you let them know that you don't want to embarrass them by just coming out and saying you want the money back, they may be able to drop hints on your behalf. Something like, "I saw Jane the other day, she looked like she was having trouble paying a bill.
“If they are waiting to be paid, make sure they know you are the first person they pay back. When they start spending money again without having paid you, this is always the time to remind them they owe you money.”
Why? Because asking for money brings up thousands of insecurities and doubts. We're scared to look money in the face, and to put ourselves out there, formally stating where we stand in a value equation. And we're unsure of our worthiness.
Chrometophobia (also called Chrematophobia) is the intense fear of money. Both the words, Chrometophobia and Chrematophobia originate from Greek chermato meaning money and phobos meaning deep aversion, dread or fear.
Seven in 10 people consider it rude or inappropriate to discuss personal money matters in a social setting, according to a new survey from Ally Bank.