Money is one of the most essential parts of our life. We can’t live without cash if we want to live comfortably and prosperously! We buy food for money; we get medical treatment for cash; we can get various services (like haircuts, car service, body care, etc.) if we can pay for them.
However, there are situations when one has tough times with money, which is when people often think about borrowing from family or friends. However, finding proper excuses to borrow money can be rather tricky!
People often have no idea what to say and what reasons to provide to assure their friends or family members that they need cash for something important.
In this article, we will provide you with a list of good reasons to ask for money. Like that, you will know in what situations it is more than normal to borrow, and you will not feel guilty about that.
Besides, these reasons may help you find reasonable and solid explanations for your family or friends if they ask you to prove you need cash for essential things. Finally, we will tell you in what cases you should never lend money to a person if you don’t want them to get into trouble!
Good Reason to Ask For Money
People may have differenet reasons to ask for money. And it is essential to understand that these reasons are not always wrong. Of course, some borrow for gambling or even drugs, but at the same time, people can ask for money when they are in a very difficult situation!
So if you need to ask someone for money or if someone is asking you, check out the most reliable and trustworthy reasons for doing it.
Legal Fees Or Income Tax One Can’t Afford
If a person buys a house and the legal fees appear over the budget, it might be reasonable to ask close friends to cover the unexpected costs. Why do people often prefer asking someone they already know instead of taking a personal loan? Because loans often come with ridiculous interest rates or put the charge on a credit card that will drag down the credit score.
Instead, it makes more sense to turn to a friend for help and support. However, note that this can only be a good excuse if you are transparent and honest about what the money will be used for.
You Need Money to Repair Something
Sometimes, you may have emergency home and/or car repairs. This often happens to people who live in areas prone to hurricanes or tornados. Anyway, these are good excuses to borrow money, and they will likely make sense to your friends.
Such unpredictable situations that lead to repairs are often out of your control, so nobody will blame you for asking for financial help!
You Need Money For an Unexpected Travel
It is not about the unplanned vacation you suddenly decide to have! Sometimes, one might have to take a trip that has not been planned due to unpredictable life circumstances. For example, a family member becomes ill or passes away.
When things like that happen, travel is usually significantly more expensive than a pre-planned trip. And, of course, emergency cases like these are good excuses to ask your family or friends for cash! It is clear that the money won’t be wasted.
Job Loss
When someone loses a job, it is always a stressful situation, especially if this person has a family to take care of and bills to pay. With no income and savings, asking a friend or a family member for help may be the only option. Going to a bank is not a good idea in this case because banks are unlikely to work with you when you will not be able to pay them back!
The good thing about asking friends or family for help, in this case, is that you will likely find some success. Most people have come through job loss and experienced the difficulties that come with it. So they will be able to understand you and your situation.
You Need Cash For Moving to a New Home
Moving to a new home (especially if it is an emergency or unexpected move) is not always cheap, especially if you hire a moving company. But even if this is a pre-planned move you have money for, you may still have unexpected expenses. For example, after moving into a new place, people often find out it has no furniture! In general, outfitting the new flat with the essentials is always pricey!
To help you out, a small loan from one of your friends or family members can be very helpful. Besides, your friends are likely to help you with funding these expenses because they know for sure where the money is going.
Borrowing Money to Pay Off a Credit Card
One of the easiest ways to improve and maintain your credit score is by paying off your credit cards on time. But sometimes, paying your bills on time is impossible, and this is when you might need to look for help.
As an option, you can borrow money from a friend and repay in a set timeframe. This way, you can maintain a strong credit score and avoid missed payments.
You Need Money For School and Study
If you are a student or going to enter a college/university, finding money to study can be hard for you (even if you have a job!). In this case, your family members can help you out. Since you will be borrowing for study, they have no reason to worry about where the money will go. Anyway, you can provide them with receipts and bills to prove you spent their cash on necessary things.
Anyway, if you take out a traditional loan to cover your education costs, you will most likely spend your life attempting to pay off the debt. So it is better to borrow from your family that can afford to pay the bill.
Unexpected Hospitalization
Without health insurance, hospital bills and medication can easily put a person into debt. But since nobody is safe from falling ill, it is always better to have someone who could lend you cash just in case.
Why is it better to ask a friend or a relative?
Because it will help you to avoid taking on high-interest debt while already having a difficult time. Medical costs are one of the best excuses to borrow money.
You Need Money For Your Wedding
A wedding is one of the happiest occasions in our lives, but weddings can be costly, especially if your family wants a traditional ceremony with many guests. In this case, everything from the location decor to the catering and the venue rental can devour your budget quickly!
So if there is no way you can avoid that costly ceremony, communicate and meet with family members to plan everything for the event. Besides, during this family meeting, you can ask for money since your family member will see where their investment is going. And besides, it’s them who insist on all this posh stuff!
These are just a few reasons for borrowing money from friends or family members. As you can see, all of them are serious and essential enough for the second party to lend you the required sum of money.
However, there are also cases when you should never lend money to a person no matter how insisting he or she is! And below, we will talk about it in more detail.
What Are Good Reasons For Not Giving Money?
As you already know, people can have plenty of reasons to need money. However, not all of these reasons should be fulfilled. There are situations when someone may ask you for money to use for not quite helpful or good purposes.
Below, you can find several reasons for needing cash that you should not try to satisfy. If you lend money to a person who has one of these reasons, chances are he or she will return to you soon, begging for more. And practice shows this is going to be an ongoing process!
Besides, people who need money on such things can literally harm their health, so if you lend them cash, you will support their self-destruction.
When Someone Asks You For Drug Money
There is nothing to explain here. If a person asks you for money o buy drugs, you should never give cash to him or her! No matter what reasons and explanations are provided, drug-addicted people will never stop taking drugs, no matter what they say.
When a Person Borrows Money to Gamble
Like drugs, gambling is another hole where people lose money, becoming constant beggars. If you know a person is a non-stop gambler and mostly loosing than winning, you should not lend money to them. Such people tend to get used to getting cash for nothing from other people just by begging them.
Besides, gambling makes people addicted, which means if you lend them once, you will never get rid of the problem later.
When Someone Is Begging For Money All the Time
This is the most typical case! Almost everyone has a friend asking for money regularly and either never pays back or does it very slowly after thousands of reminders. So if you have such a friend and he or she has already borrowed from you but hasn’t returned the money yet, don’t lend more.
Now you know what reasons can be accepted as trustworthy enough for other people to lend you money. It is essential to keep in mind that there is nothing wrong with asking a friend or a relative for some cash, especially if you are going through a challenging period in your life!
So don’t blame yourself and simply try to find someone you know well enough to ask if this person could lend you the required sum of money. Of course, you should explain what you need this money for so that your benefactor knows precisely what he or she will give you money for.
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