4 steps to apply for a loan.
After asking these questions about the loan, and if you still want to ask the family for money, you can follow five steps to facilitate the process. You will always have to overcome the pain of applying for a loan, but understand that everyone needs a helping hand from time to time.
1) Ask for advice first, then money
Be honest with your situation and ask if your family can help you without lending you money. A family member or friend may need help with their business and can give you a part time job. Maybe they can lend you their car for a few weeks while you save enough to repair yours.
It is much easier to ask how they can help each other than to apply for a loan and the risks are lower.
If you can not find another way out, then ask for a loan. You will get a lot of respect by first trying to solve the problem differently.
2) Talk about why you need money
If you've already thought about why you need this money and have made sure it's a necessity, your family will probably understand it too. It's an important step to bring them to your side before asking for money.
3) accept responsibility
We all make mistakes. We all have financial emergencies that we could have avoided. There is nothing worse than someone who always attributes his money problems to something or to another person.
Were you really fired for your boss or did not you work as hard as you could? Did you just spend the necessities or did you do some things without him?
One thing is to make mistakes. Another thing is to deny it and never learn from them. If you never take responsibility for your financial decisions, no loan will be enough.
4) Make a plan to return the money
Make a plan to return the money goes in two parts; Understand how you will pay and put everything in writing.
You should already have an idea of how you will make the money for the questions asked. That's why they are so critical.
Even if your family or friends accept simple loan terms, such as interest or flexible payments, you need to write everything down. This will allow everyone to relax and understand exactly what is happening.
