Up next in How to Manage Your Money (58 videos)
The rich didn't make their fortunes with frivolous spending. Get smart about money with these saving and budget tips.
You Will Need
- A list of friends
- A calculator
- A contract
Decide who to ask
Make a list of friends and family members who you would like to ask to borrow money.
Calculate how much you’ll need
Calculate how much money you’ll need. Write it down in a contract format.
Write down what it will be used for
Write down what the money will be used for with as much detail as possible.
Develop a repayment timeline
Develop a timeline for repayment, and add that to the contract.
Make an appointment
Make an appointment or arrange a meeting to ask them in person.
Present the plan
Present the amount needed, what you need the loan for, and the repayment plan. Offer to have it notarized once you reach an agreement. Don’t forget to say thank you.