The best way to ask the parents for a loan of money?

[IntoTheFire]

I wasn't sure where to post this, so I went for general. It's quite a laid back question in comparison to some others, but I'd appreciate some suggestions

 

I start a new job on Monday. The last job I had I left in err...December as I was going away, and pretty much couldn't stand it any longer. When I got back home I started looking for something else and found the job I'll begin in a couple of days. The interview process was really drawn out (my 1st interview was about a month ago now) so I've been waiting for a while to start.

 

The thing is, obviously I've been spending money during the time I've not worked, and I'm pretty much upto my overdraft limit. To make things a bit more awkward, I have friends visiting from abroad this week, so we're out every night.

 

My most logical option is to ask my parents (I still live with them, I'm 19) for a loan until I get paid. I'll probably need to buy some clothes for work, and obviously there's just general expenses too.

 

So how do I do this?

 

I have done it before but wasn't very good at paying back. Stupid, I know. I'm just one of those people who are like "Okay, I'll pay you back tomorrow. I'm off to the pub tonight though". It was just like, "they're my parents, not the bank, so what can happen?" sorta thing.

 

So if you were me, asking my Mum for a loan, how would you do it to ensure she says yes?

 

Thanking you

 

P.S: I don't need to borrow that much. Only like £100 or so.

P.P.S: Can anyone define the term "monthly arrears" for me, please? Random question, but it was mentioned in my job acceptance thing, and I don't know what it is.

 

Thanking you, again

[IntoTheFire]

Thanks, that does help.

 

I presume my Mum will imagine that I'm gonna spend part/all of the money on going out and having fun, but that is definitely not true. The job is intense hours Mon-Fri, and I think I'll be too tired at the weekend to consider going out anyway.

 

She's at work just now, so I'll ask when she gets home and pray for the best...

 

 

[Relationship Coach]

Can anyone define the term "monthly arrears" for me, please? Random question, but it was mentioned in my job acceptance thing, and I don't know what it is.

 

This is a term used when you are making back payments on a debt. The employer may ask this in case your wages have been ordered by the courts to make payments on a debt such as child support or a civil judgement or restitution.

 

As for asking you mother for money, be honest with her and learn to be smarter with your money. Paying her back is one thing, showing her you are responsible is another.

 

RC

[Beec]

If you want a loan, and you want to act mature, then draw up an agreement, a simple one, agree that if they give you a loan, you will pay it back in weekly or monthly payments of ____, with interest of ___ (say 5-6% per year) and give them something of your own to hold onto until youo pay it back, that's worth at least 100 pounds, and put in a penalty of 5 pounds if you miss a payment or are late with one. Do this, and they will know you are serious. Then live up to the agreement. Then pay back what you owe them already.

[Dako]

Beec has a good idea.

 

I had older siblings who borrowed from my folks with no intention of repayment. As I got older I borrowed from my dad at the prime rate, and paid him back quickly. I wrote an agrement and stuck to it.

He made a few bucks and we were both happy.