Parents will almost always do anything to help their children, including giving money when they are having a hard time. If you have a valid reason to ask for money and your parents are able to comply, politely asking and explaining your plans to return it may convince them. Showing gratitude and keeping promises will make a good impression of you and make them willing to lend you more money if you need it next time.
Step
Method 1 of 3: Preparing to Ask
Step 1. Consider your behavior so far
Do you often depend on your parents for help, or are you more likely to be independent? Your parents may prefer to give you what you want if you've been independent enough. If you've asked for money several times, have been constantly borrowing their car, or haven't been of much help at home, they probably won't want to give you money.
- If you feel like your behavior has been a little off, try to work things out before you ask. If you live at home, you can cook dinner for them, wash their car, or do household chores.
- If you don't live together, find other ways to please them from afar. Answer nicely when they call and involve them in your life. It's best not to suddenly call them after months and months just to ask for money.
Step 2. Give a good reason
If the reasons are well thought out and strong, your parents will be more responsive. Think about what you need the money for and why. Prepare an explanation of what will happen that will make your parents feel good about lending money.
- For example, suppose you need money to buy a new computer. Maybe your parents would be more than happy to give you the money to buy this computer if you explained that having a computer would help you do well at work or do better in school, rather than simply saying you wanted to buy a computer.
- If you need the money for basic necessities, such as paying rent or buying food, be honest about why you are in this situation. Maybe your situation will make their hearts move and want to help you.
Step 3. Show that you have fulfilled your obligations
It would be even better if you could convey your intention to pay for at least part of your needs. Save as much money as needed, so you can ask your parents to add the rest. They will see that you are struggling to pay as much as you can and may be more willing to help you.
Step 4. Give a reasonable calculation
Find out first the price of the item you need with accurate figures to show your parents. Make sure that you are able to explain the amount of money you want to ask, so they don't feel that you are taking advantage of them. If you're straightforward and honest, they may even be willing to give you a little extra money.
Step 5. Plan how to get this money back
If you're asking for a loan, not a gift, there's a greater chance that your parents will lend you the money if you already have plans to pay it back. Calculate the time you need to save so you can tell them what date you will return the money. Maybe a month or a year from now, your parents will want to know.
- You can apply for a payment plan and installments with your parents. This way you don't have to pay for everything at once, and it may be easier to get this money back on time.
- If you don't plan on returning the money, don't say you will. You'd better be upfront about your intentions. If you ever need more money, remind them that you paid off your previous loan.
Method 2 of 3: Talking to Your Parents
Step 1. Speak politely
Arrange for a time to sit down with your parents and make your request. Make sure your parents understand that you are not taking this situation lightly, and only asking when you really need it. You'll appear more serious and sincere if you're prepared ahead of time, rather than making short calls or asking for money casually.
Step 2. Describe your plan
Depending on how much you're asking for, you may need to bring a supporting file to discuss with your parents. Show them that you have calculated the exact amount of money you need. Show how much you have saved to pay for it, then ask for help with the shortfall.
- If you want to ask for money to buy an item, search the internet and print the price.
- If you want to ask for extra money in reserve, say so from the start. Tell them that if they give you a certain amount from now on, you can go back to being independent and not have to ask again.
- If you want to return this money, you may need to provide a written plan on the installment schedule as a guide for them. This shows your sincerity in keeping your promises.
Step 3. Make sure that your parents can afford it
Maybe you have an idea what your parents' financial condition was like. But it's better not to assume that they can give or lend large sums of money. Ask if they are comfortable with the amount of money you are asking for. They may immediately say they can't, or they can give a portion of the amount.
Step 4. Accept the terms they propose
Asking for money is asking for a big favor, and your parents have the right to set some conditions. They could say they'll only give you part of what you ask for, or maybe they can loan you the money if you pay it back on short notice. Maybe at first you feel resentful or angry because they didn't give you what you wanted unconditionally. However, if you really want or need the money, you have to accept the terms put forward.
- It is possible that your parents will refuse to give the money. In these circumstances, find out what you can do to convince them to give this money. Maybe there are household chores or errands you can do instead? Maybe you can do repairs, grocery shopping, or help in other ways.
- If your parents still don't change their mind, don't whine. Instead, find other ways to get the money. By showing that you are reliable, they may even decide to help you.
Step 5. Say thank you
If your parents decide to give you money, say thank you for your own benefit. If you are eighteen or over, your parents are no longer obligated to provide for you financially, so the money they give you is a gift. If you want to do even better, you can even send them a thank you card. Your attitude will make them feel more willing to help you in the future.
Method 3 of 3: Follow up
Step 1. Refund them if you promised
Once you receive the money, you will feel relieved to be able to pay for your needs. But don't forget to start saving so you can return the money if it's part of a mutual agreement. Sticking to the deal will make your parents feel better about lending you money. Plus, you'll feel better when you're no longer indebted to them.
Step 2. Think of ways to avoid this situation in the future
While there's nothing wrong with asking your parents for money, you don't want to be in this situation forever. Your parents also need to save for retirement, and you need to feel independent and financially secure. Even if your parents always comply with your requests, try to make enough money to meet your needs, so that asking for money doesn't become a habit.
Step 3. Try to find other sources of finance
Think about asking your parents for money. Was this a positive or negative experience? If it's positive, you're lucky to have very supportive parents. However, in certain situations there can be a negative effect of asking your parents for money. While your parents may agree to your request, they can make you feel guilty or childish for asking. Asking family members for money can be an emotional burden. If you ever need more money, consider other ways such as:
- If you're in school, find out if you can do an internship or ask for an emergency loan from a financial aid agency.
- If you have a job, find out if you can get a salary upfront to pay bills that are due.
- If you're having trouble repaying a loan, consult with your bank to develop a sustainable payment plan based on your income.
