No one likes accepting financial help. We all want to be able to say, “look at me, I did this by myself.” After all, there’s no better feeling than being self-sufficient.
However, it’s a simple fact that most people don’t get through life without accepting some financial aid at some point. Most children grow up relying on their parents or guardians for financial support. As we grow up, we learn to stand on our own two feet and earn our own money, but it isn’t always easy. At some stage, you may find yourself needing to get a business loan, rely on student finance or ask your parents for some extra cash.
It can be easy to let guilt swallow you up when you borrow money. But while it shouldn’t become a habit, you shouldn’t be afraid to accept financial help. There are plenty of organizations and people who want to help you. Here are some tips to make it a little easier.
Ask for help
Asking for help is often the hardest part. We don’t like to admit that we are vulnerable or struggling. However, it’s better to ask for help than wait for someone to offer it. Asking for help shows that you have acknowledged your situation, weighed up all the options and want to be productive. You aren’t wallowing around in your own financial difficulties. So, take control and ask for help. It will make life easier for everyone.
Plan your repayments
Accepting financial help feels easier when you come up with a plan to pay it all back. This way, it’s clearly a loan and not a gift. If you borrow money from an organization or company, they will help you to come up with your repayment plan. If it’s from a friend or family member, you might need to take this into your own hands. Create a spreadsheet, work out your budget, and establish how quickly you can pay this person back. Most people will be happy to accept monthly installments instead of accepting it all in one go.
Don’t be overly grateful
Yes, you need to say thank you for your loan, especially if it’s from a close friend or family member. However, too much gushing can make both of you uncomfortable. Remember that you are going to pay the money back and that you would do the same for them if it were the other way around.
Think of your achievements
We can all feel down in the dumps when we’re struggling financially. It’s easy to let negative thoughts spiral and feel bad about yourself. You might feel like a failure or become depressed. If this happens, try to remember your achievements. Sure, you’ve borrowed money, but perhaps you managed to keep yourself afloat during troubled times for a while already. Reward yourself for your successes and remind yourself that borrowing money doesn’t make you a bad person.