Asking your friends for the money they owe you isn’t always easy. But it doesn’t have to be awkward or ruin your friendship.
There are a few things you can do to efficiently pay back your friends. This will help you to keep your relationship and finances healthy.
1. Set a time frame
Using peer-to-peer apps like Venmo, PayPal and Square Cash makes it easy to ask for and get paid back from friends. But that doesn’t mean it always happens.
The first step to effectively paying back friends is to set a time frame that works for both of you. This will allow you to keep your friendship strong even when you’re struggling with money.
Once you have an agreement on a time frame, let your friend know that you’re committed to repaying the debt in full when you can. If this is not possible, offer to make installment payments.
This will give your friend a reason to pay back the debt as soon as they can. And it will also show them that you’re not trying to take advantage of their situation.
2. Send a message
The best way to efficiently pay back your friends is to be clear about what you want and when you need it. This means being concise and using the right words, and not trying to be too clever.
To send a message, click the “Send a Message” link on your friend’s profile (Finding Friends) or in your search results. A list of potential recipients appears based on the information you have selected. Tap on a name to open its message box, and write your message. The best part is that it’s free to send to up to 250 friends at a time. You can even attach a picture or video for the full effect. You can also type in a caption and choose from a variety of fonts.
3. Ask for help
Asking for help to pay back your friends can feel awkward, but it can also be a helpful way to get your finances in order. Here are some tips to make the process easier and less awkward:
1. Be respectful of their situation.
Often, people who receive money from friends or family members do not know how to handle their own personal finances. This can be very confusing to them, and it can be difficult to know whether or not they will actually be able to repay the loan.
2. Make it clear why you need the money.
It can be easy to forget about a loan when you’re in the middle of a busy semester, but it’s important to keep it in mind and set a reasonable repayment plan. This can help you avoid any problems with your friend later on.
4. Ask for a gift
If you’ve lent money to your friend and they’re taking a long time to pay it back, then it may be worth asking them for a gift instead. This will show them that you care about them and their situation, but it’s also less stressful than bringing up the matter of repayment.
However, be sure that you only ask for a gift if you really need it and you have a legitimate reason to ask. Otherwise, you’re only hurting their feelings and causing them to lose trust in you.
A lot of people have a hard time asking their friends to pay back the money they owe them. However, it doesn’t have to be awkward!
To start, make sure that you know exactly what you are asking for. This will help you feel more comfortable when the time comes.
It’s also a good idea to practice your conversation with your friend so that you are clear on what you want to say.
Once you’ve decided what you want to say, present it to your friend. This will help them know what to expect and how you want to pay it back.