By
eHow Relationships & Family Editor
Difficulty: Moderately Easy
Step1
Tell the family member, friend or bank how much you need. Whether you're borrowing money from those close to you or from your bank, you must establish how much the potential loan amount is.
Step2
Explain when you intend to repay the loan. Whether you need to borrow money from your mom for two weeks, a friend for two months or a bank for two years, you must give a definitive time or date as to when the entire amount due will be repaid.
Step3
Tell them what you need the money for. Note that this is the third, not first step. People generally want to know how much you need and when they'll get it back. Then they might be receptive to find out what you need it for. If you need it to take a vacation, a bank might be fine with that. However, a friend might not be receptive to lending money for you to go on vacation if he haven't been on one himself for years.
Step4
Have an backup plan. If your friends or family asks what would you do if they do not lend you the money, have a solid alternative. Let's face it: if you ask for money for to help fund a vacation and you don't get the loan, having a backup plan is much better than forfeiting your vacation altogether.
Step5
Stay positive. Being negative or making your friends feel guilty will not help your situation. It will only ruin you friendships.
Step6
Be credible. If you borrowed money from several people and did not pay them back, word gets around.
Comments
littleflower said
on 12/13/2007 this is soooo true!!! I loaned ALOT of money to my deadbeat older brother and then he got mad when he had to pay me back. Now our relationship is strained and he doesn't admit to doing anything wrong, never apologized for inconveniencing me, affecting my once good credit, and actually tells people he had nothing to do with my financial stress. And he expects me to forgive him even though he never apologized for leaving me with no money to even eat for over a week while I was waiting for him to pay me back. It's true - being negative or making friends feel guilty won't help and will ruin your friendships. I no longer speak with my older brother. All he has to do now is say he is sorry for taking advantage of my kindess.