How to ask for money politely can be awkward at times. Talking about money with close friends or family members can be awkward, especially if you’re asking for a loan or trying to recover money you owe.

Good news is that a potentially awkward conversation can be avoided if you follow some guidelines for politely asking for money.

Continue reading to know how to ask for money politely from friends and even family. Learn how to ask for money politely below.

How to Ask for Money Politely

1.Prior to Making a Purchase, Seek Advice.

You have an immediate financial need and may be forced to borrow money. As a result, you’re unsure of what to do. Ask for help from someone you know and trust.

In the end, he may not be the person you approach for the money. Consult with the person you believe to be able to provide you with unbiased and truthful advice.

Describe your predicament and pay attention to what he says.

Never forget that following it is entirely optional. You’ll be able to gain a clearer perspective on the situation and organize your thoughts so that you can make more informed decisions.

2. You Must Select the Right Person .

If you’re in a tight spot, you’ll have to approach a family member or friend for assistance. It’s critical that you make a decision ahead of time about where you’ll get the money from: a moneylender, a financial institution, or family and friends.

Because money can wreak havoc on friendships and familial ties, you need to be crystal clear in your thinking.

Make a list of all the possible choices and narrow it down to two that you think are best for you. It is impossible for someone who is already juggling a lot of things to help you out.

3. Be Transparent and Honest

It’s critical that you’re up front and honest about your financial situation. Asking for a loan implies a certain level of trust between the two of you.

You’re betraying their trust if you don’t tell them the truth about why you’re leaving. If you do, it’s possible that you’ll have to reevaluate your relationship.

It’s best to be as transparent as possible, so you might want to discuss your current financial situation and the reasons you approached this person for help.

While it can be difficult to be open and honest with someone about your financial situation, doing so can help you maintain a positive working relationship with the person who is lending you the money.

4. Put it in Writing

Having the terms of the loan in writing is essential once you have a plan in place and both of you agree to it.

In this way, the roles and responsibilities of both you and your lender are clearly defined, as is what happens if either party fails to live up to their end of the bargain.

In order to make sure that the written document is legally binding, you can seek the help of a legal expert. A notary public may also be an option.

5. Make it Easy for him to Leave.

There’s no guarantee that if you ask for money, the person you’re speaking to will lend it to you. Don’t expect a yes.

Do not force the other person to part with his money if he is unwilling or unable to do so. Instead of putting pressure on him, you should move on to the next person on your list and ask for the same thing.

The terms and conditions of a loan repayment will be skewed by someone who is hesitant.

6. Do not Over-Negotiate or Bargain.

Be wary of negotiating over minor details if you’ve asked for money from a trusted friend or family member.

You’ll look bad, and the other party might back out of the deal. Don’t make him regret his decision because of your incessant wrangling.

Be specific about what you want and offer a variety of options. If his terms are unacceptable to you, politely decline and explain that you cannot accept them.

A heartfelt thank you is all you need to show him that you appreciate what he’s done for you.

7. Approve the Deal’s Terms

Be professional when it comes to money so that your personal relationship doesn’t suffer. It’s better to start the conversation about legitimizing the deal before you ask for money or cash from someone.

Make sure the terms are fair for both parties so that your friend or family member will feel comfortable approaching you about it.

Paying interest is a good way to show that you’re serious about repaying the loan and will do so as soon as possible.

If you and your partner are going to make this deal, it’s best to go over all the nitty-gritty details first.

8. Be Consistent With Your Deadlines And Reminders

Your borrower should know exactly when they’ll have to pay back the money you loaned them and how many times they’ll have to do so. As a result, the borrower will be aware of exactly when and how much they owe you.

Give polite reminders about upcoming deadlines if you want to go one step further. A week or two prior to the due date, you might want to send them a friendly reminder.

Reminding them can be as simple as sending an email or text message. Make sure everyone is aware of these deadlines by putting them in writing.

9. Prepay the Loan

You had to ask for money from someone because you were in a dire financial situation, but now you are in a position to pay back the loan, even though the terms and conditions set forth by both parties give you some time to do so.

Don’t wait for your friend to come to you for his money / cash back on a specific day. It’s best if you get the transfer arranged as soon as possible and notify him of it.

This will make a good impression on the other person, and if you ever need his help again, he will be happy to provide it.

10. Make amends for what was done to you

It’s impossible to predict the future. You had asked someone for money / cash when you needed it, and that person had given it to you without hesitation.

You were able to return it in the allotted time because of God’s grace. if your friend is having financial difficulties, it’s time to repay the favor.

Consider doing so, if you have the grace to do so. Now it’s your turn to return the favor. If you can, lend a hand financially; if not, lend your moral support and work with him to find other ways to achieve his goal.


In most cases, it’s not as simple as borrowing money from or lending it to a friend. Getting the conversation started is easy if you and your partner are both upfront about the reasons for the loan and agree on a timeline for its repayment.

Remember to get all the terms in writing so that both parties know exactly what they’re signing up for. To help you or your borrowers pay off debt quickly, read this article.

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