Last Updated on Apr 8, 2020 by James W

Every family has a member who is always asking for money – whether being in need or just wanting to round his or hers budget. Nowadays, money are easily made by some, but even harder for the rest of us. If you are part of either of the two categories, you might want to know how should you deal with people asking for money, especially if you want to be kind enough and neither waste your money nor trying to be mean to the people who wish for your financial resources. Still, the way you say it is rather an art – something that can be easily learnt, from the right place. These being said, in case you are looking forward to knowing more concerning the subject, make sure to stick with us and keep an eye onto the following lines in order to find out how to manage family members asking for money!

  1. Never Tell Anyone About Your Money

One of the best rules ever is never tell anyone all about you – believe it or not, it involves your financial resources as well. Departing with this idea into your mind, there is no wonder why it is important to keep this little detail to yourself. Once people heard about anyone having money, they are most likely to go around him and preferably ask for money – of course, only for borrowing. Yet, let’s just say that you wish to make an investment in the near future or have all of your money in bank for interest. If someone knows you have some financial resources, they will come to you and avoid the bank, since you will not ask them to pay you interest. Still, the one who loses is you, not them. Trust me, I have been there and done that – fortunately though, all whom I gave money to managed to get them bank on time. But as we tend do hear from friends and families, there might come a time when people will forget you gave them money.

  1. Set Guidelines
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In case someone close asks you for money and you simply cannot deny; there are some things quite important to set before you lend any. Basically, what you need to do is to set the guidelines regarding the money, such as: the moment you lend the other, the amount and the moment when you will give them back. As soon as you have all these things set up, it will be easier than ever to make sure that everything is in the right place – and, so to say, it is easier and better for you to make sure that you get your money on time. Of course, there are people who will always consider that asking on and on when the others will get their money back is always a sense of being mean. In order to avoid such aspects from happening, it is best to set from the very beginning all of these important details, so you know for sure when your money will be back into your bank account.

  1. Do Not Put Others First

Even though this might sound rather selfish, the idea is still on – you should never put other people first, before you – and this goes especially for money. Believe it or not, whenever someone asks for money and you have some plans with them already (but did not manage to put them into practice), it is best to keep with your plan. By this way, you will pursue your initial goals. The idea behind is that if you fail to get the outcome expected, you will always have a sense of a low self-esteem, due to the fact that you did not manage to do what you initially planned. On the other hand, people who are asking for money do not see you as their only chance, but rather as a stop in their search for borrowing money from someone. In other words, even though they do not get them from you, they will most probably find someone suitable enough to do so for them. If you are not the one, it does not mean that you cannot be irreplaceable – since all they are looking for is a place or a person to borrow money from.

  1. Explain Them Honestly Your Situation
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If there comes someone close to you and asks you for borrowing them some money, explain your situation in the best possible terms. By this way, they will understand you, since no one will make you feel bad about this once they know what they are going through. For instance, if you want to do something with those money, you can always tell them that you managed to plan them in advance, reason why you wish you could have helped them, yet cannot. They will understand, we assure you of that.


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