How to Borrow Money

How to borrow money right now? I guess the most straightforward answer to this question is to ask right now! Of course, people wouldn’t know if you have a financial problem unless you said so or there is something that is happening in your life that makes it too obvious for people to notice. Borrowing money may not always seem to be an easy task. This, of course, depends on the situation of the one who desperately want it.

There are a lot of ways to borrow money, either for personal use, business, education, for health and hospital bills, etc. Family, relatives, friends, government, and health care agencies are just some of the best examples and may serve as the solution to this kind of situation. However, keep in mind that you should not always expect something in return when you try to borrow money from someone. I guess it’s still about timing, the way you approach them, how much money you are trying to borrow, the kind of financial problem or situation you’re into, and sometimes, luck (and it doesn’t matter whether you believe in it or not)! Now let us discuss how to borrow money in a more descriptive way.

In times of financial problems, usually, the first thing that comes to your mind is to borrow money from the people that you know. Those that are related to you and is or somehow close to you. Borrowing money from one of your family members is a good idea since we all know that our family is typically the one that will always share and support one another in times of financial crisis. However, if the whole family share the same problem at the same time, relatives and even your family’s friends who have the capability to share resources will usually come to the rescue and loan the money that you and your family need.

You can also ask your close friends if they are willing to help you in any way they can. Basically, you would approach them in a most sincere way. Although it’s okay to express your feelings, it’s still advisable to try not to overreact and become too emotional in front of them. Just stay calm, relax, be honest and explain to them your situation regarding money matters and why you desperately need their financial support. This way, both the borrower and the (possible) lender can communicate with each other efficiently.

The government can also serve as a big help in eradicating financial problems. As far as I know (or at least here in my country), they provide special agencies where you can borrow money for various financial situations. Health care and hospital bills that are way too much for a low-class family can get a benefit from this kind of government service.

You can also try your luck at your workplace or the company that you work for. There’s a thing called pay day loans where you can ask for an advance pay (just a percentage of your actual salary) from the company right before the pay day comes. But of course, you should pay the loan back to the company before they give you your actual salary when pay day arrives. If you’re familiar on dealing with credit cards, you would find that the concept of pay day loans are somehow close to the concept of paying your credit card bills.

Another method of borrowing money that is quite similar to this is by consulting a pawn shop. Basically, the pawn shop would loan you money in exchange for an item that you would temporarily leave in their care. This item could be a jewelry, a gadget such as cellphone, motorcycle, etc. How much money they can loan you? That depends on the value of the item you are willing to give to them. You can only take that item back once you have paid the exact amount of money they have loaned to you.

An additional technique I want to add is, although I’m not sure if this will work in your country, but consulting charities, foundations, and finance related organizations can also serve as a big help in times of financial crisis. You can borrow money from them and if you’re lucky, they might loan you some financial support without asking anything in return. In short, you don’t have to pay anything back. You might as well try it. Remember, there’s no harm in trying! Lastly, I would like to say that in borrowing money, you should never forget the importance of having a well-mannered approach.

If there’s an agreement between you and the lender, you should follow it! However, if you’ve come across a problem that hinders you from doing it, make sure to have an open communication with the lender. Explain and let them know what the problem is and how you’re trying to adjust your financial situation. Also, you have to let them know the exact period when you think you would be able to pay them back. By doing this, you’re not only making a positive image and making yourself trustworthy in the eyes of the lender, but you are also increasing the chance of having a loan from the same person all over again. Don’t abuse it though!