You’ve faced some problems with money and don’t know how to borrow it, do you? Several pieces of advice, which are likely to you help you.
Life is a complicated thing and sometimes it pulls a caper and you feel you are ready to climb the wall.
Almost everyone faced financial difficulties some day.
Somebody had his salary delayed, somebody failed to count whether he had enough money till the salary day, and somebody decided to purchase an expensive thing and had lack of cash.
In any case, every one of these people wondered how to borrow money.
There is an infinite number of possibilities in the modern world, but all people want to find an option, which would let them borrow money quickly, comfortable and without excess fee.
Let’s discuss several most popular variants.
How to borrow money?
- Make sure you formalize the receipt, which was confirmed by a notary.
You must write down all personal details of the person, who borrows money, and of the one, who lends it.
The sum has to be written in numbers and in words by the currency equivalent.It is obligatory to put down the date of the repayment and how many per cent is paid for every extra day in case of late repayment.
- The sum of percentage should not be written, you’d better count it in the general sum of the debt.
There must be all personal details of two witnesses in the receipt.
It’s also better to borrow and lend money when the witnesses are present.
- All parties of the deal put their signatures to the receipt and decipher them.
- The date when the deal was made has also to be mentioned.
- You should give the receipt to the money-lender only after you received the money.After you repaid the debt, take the receipt back.
- You’d better also take the written confirmation that the debt is fully repaid.
- Give money back also in the presence of witnesses.
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How to borrow money fast?
Relatives and friends.
Close people are sure to help you in the difficult times.
Such variant is rather good, because you will be able to repay the debt and avoid paying percentage.
One person may not always be able to give you the whole needed sum, but you may ask two or three friends and gather the needed money.
Another option is to borrow money in a bank, where residents can easily take a loan. However, you are to have a good credit history.
If the credit history is full of late payments, but now there is no debt issue, you may try to get a credit card with a small line of credit.
A bank may consider this time you will pay everything in time and will give you the card.
However, in this case the rate of interest may be higher than usual. In such a way a bank secures its risks.
A credit card.
Many people have already estimated the unquestionable merits and advantages of the credit cards.
Those, who haven’t faced them, should remember that the main advantage of a credit card is the possibility to use money, which is kept on this account and which is given by a bank for you to use, whenever such necessity occurs.
This way, there is no need to report about your expanses and purchases to a stranger every time.
A person simply takes a credit card and pays by it or takes how much cash he needs.
This method is much better than borrowing money.
A pawn shop.
In pawn you may borrow money secured on the jewelry, household appliances or electronics.
The percentage here is moderate, but it’s important to repay in time and get back your gold, TV or a laptop, otherwise the values left to secure a loan will be sold.
Giving your things to a pawn, you should understand that the appraisers will check them, for example there may be left some traces of acid or scores on the jewelry.
Nevertheless, a jeweler will bring them to order, if you manage to redeem them.
How can I borrow money?
You’d better ask for a loan from a person, who knows you well, because an unfamiliar person will surely refuse it, being afraid of a fraud.
It’s a natural reaction.
In any case, in order to borrow money you must know beforehand whether a person gives loans at all.
There are people, who never lend money to anyone on principle.
Surely, there is no sense asking these people.
However, there are others, who are afraid to look greedy in the eyes of other people.
They are afraid lest people call them yids, money-grubbers or skinflints.
These are our clients.
You can borrow money when a person has elevated mood.
It’s significant you preserved this mood.
Always ask to borrow more money than you actually need.
If you need money fast, you can use such trick.
You may say that your friends have already helped you to gather 20 thousand but you still need 3 thousand more.
You’ve gone over everyone; ask your every friend and everybody, who could help, has already lent you money.
Your brother also promised to help but money transfer takes much time and you need right now!
As a rule, people often catch it.
They think if others gave you 20 thousand, you are an honest, respected and reliable man and it’s sinful not to give you the remained 3 thousand.
When you borrow money, influence on the creditor’s complexes, such as guilt, greediness, generosity.
For example, when you put pressure on such human weakness as greediness, you may promise a percentage from the income or the sum of the loan.
Focusing on generosity, you may also achieve results, if you say that it’s important to be kind and generous.
Life rewards such people and you will never forget his generosity, too.
Influence on his complex of guilt, it also helps a lot.
If you remind him how you helped him in a difficult situation and now you need to borrow money.
Such formulation of the question leaves no choice and you won’t be refused.
You may also play on the feeling of pity and try to whine or cry.
For example – I’m in such a difficult situation that I don’t want to live even.
Only you can help me.
The Earth is round and, maybe, next time I’ll help you.
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You can be a bore for some time.
Ask to borrow money once.
If you were refused, come up a bit later and ask again, and then again.
Later, complain to somebody about the lack of money, but make sure the creditor hears this conversation as well.
Ask again until they give you money only for you to leave them alone.
However, mind that this method irritates people a lot.
What should you remember when you borrow money?
Borrowing money you must remember that you’ll have to return it.
In most cases you will be obliged to repay more than you took.
That’s why, it is better not to be carried away and borrow money only when you need it and there is no other way out.
When you borrow money in different credit organizations you should mind that you’ll have to repay more money.
That’s why count beforehand how much you can afford.
Specialists claim that it should not take more than the third of your monthly family budget.
Only in this case you’ll be able to repay it without any difficulties or troubles.
Do not delay the repayment, even if you take money from relatives or friends.
Otherwise, you’ll get the reputation of an unreliable person and you will probably be refused in a loan next time.
Few more pieces of advice on how to borrow money
Never hide: communicate constantly with the one, who gave you money.
Let him understand you are going to return it as soon as possible.
- If a creditor asks when you will return the money, answer honestly that you do not know when you’ll be able to do it, but this is how the situation established.
- Demonstrate how uncomfortable you feel and how guilty you feel that you let down such a nice person.
- Suggest another way how you can compensate the late repayment.
The methods, how to borrow money, are numerous, but all of them have a common characteristic – loans must be repaid.
That’s why think twice whether you need to borrow money so much or you can try to go without it.
In the future, try to learn how to save money and then, having a saved sum, you won’t have to rack your brains and be in bondage to somebody.
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