A 5 step guide to asking for help

It's hardly surprising that many people find it difficult to discuss their finances because money is generally seen as a taboo subject.

Asking for help of any type requires vulnerability, and it can be particularly challenging when it comes to knowing how to ask for help with money.

And while it isn't publicly talked about - it is infact more common than you may think. We asked hundreds of Australians about their money habits and over 70% said they would help family and friends pay bills if asked.

Additionally, those that had given financial help to someone had done so more than once for the same person.

But did people want to help? How did they feel when helping someone with money? Were they upset or disappointed in the person asking for help? No, not at all - the good news is the the number 1 feeling people had when helping was 'happiness' and the next most common feelings were concern (was it enough? how else could they help?) and feelings of being honoured they were asked and relied on to help.

So if you're struggling, asking for help from others can actually strengthen relationships and can help you re-establish your financial security.

Learn how to overcome any fears or worry you may feel with our guide below to empower you to get the help you need.

Four indicators you should ask for assistance

Still unsure as to when the best moment would be to seek help? Consider how many of the four habits below you fall into and how frequently.

1. Relying solely on credit cards and savings

It could be time to reevaluate your circumstances if you have been continuously using your savings as a result of financial setbacks. Another indication that you require additional assistance is using a credit card to cover living expenditures.

2. Late bill payments

Are you frequently contacted by collectors or are they sent to collections? Your financial condition might soon get worse if you struggle to pay your regular expenses on time.

3. Added debt

Did you know the most common way to deal with money pressures is to use credit cards (33% of the time), but the second most common? ADD NAB STAT

Another indication that you could use financial assistance is opening a second credit card or getting a quick loan.

Even though we might think that asking for help is a sign of weakness, doing so requires guts and confidence. Crowdfunding is one of the simplest and most efficient ways to communicate your needs with many people at once if you don't know exactly how to receive assistance. You can give your significant other the opportunity to become engaged and significantly impact your life by beginning an online fundraising. You can use these five suggestions to share your story in the most effective and inspiring way possible.

4. Using Buy now pay later for essential services

A recent Choice survey found that BNPL customers have upto 20 loans and 14% are using Buy Now Pay Later services for paying the bills of essential services like electricity.

While this may feel like a good way to be personally responsible with your money and is better than having to ask for help, it could be creating a 'money trap', as due to all the ongoing 'smaller' payments there's never enough free money to save up and stop using these services.

In addition because these companies don't have to conduct any credit checks it's possible for people to load up on lots of these services and if there are disruptions to income the penalties for non-payment can be punishing.

The good news is that people want to help their friends and family stay out of debt, so, just how do you go about asking for help?

Here is our 5 step guide to for how to ask for help

1. Be open and vulnerable while asking for assistance

It can be challenging to disclose your financial information to friends and strangers in your fundraiser tale, but that is precisely what persuades them to donate to you. They will be more than willing to contribute whatever they can once they know what you need aid with.

Give a detailed explanation of how and why you arrived at your current situation is important for when describing why you need help. Don't forget to describe how your circumstances may be affecting your mental health as well as your financial status.

Describing the positive impact receiving financial help would have on your life can really help paint the picture for the person that can help you.

It can also help to explain how you intend to get back on track in as much detail as you can to build trust.

Quick HelpPay stats about financial helping:

The #1 reported feeling of helping someone is happiness
72% of people in Australia say helping is part of Australian culture
81% say they help someone financially when they can

2. Be clear what you need help with

By establishing attainable and fair giving goals, you make what you need attainable and tangible for the person helping.

Breaking down what you need help with can help the person feel like the $50 or $100 they have to give will really help. For example instead of saying "I have $2000 of bills to pay, can you help me?" try rephrasing it to something like "I have a lot of bills, but the most important one is my electricity bill, it's only $150, can you please help me?".

When people know what they're giving for, and get a guarantee their money will go where it should, they're more likely to help.

3. Offer your time

It's possible that you have friends or family who would like to discuss your financial needs with you or provide emotional support. It's always best to offer to see these people in person and have no time constraints.

People do want to help the people they care about, but they also want to ask questions and make sure their help really helps.

Often the questions aren't because the person wants to be nosy or annoying, in-fact quite the opposite, often it is because the person wants to see if you need anything else, or if they can offer even more help.

4. Ask for financial guidance

Showing you're serious about turning things around is very important to the people you're asking for help from.

People want to help you, and they also want to see you on the right path to hopefully avoiding finding yourself in the same situation again.

There are likely a few financially savvy individuals in your network of friends and family who are eager to share their knowledge. Letting the people that can help you know you're open to receiving financial guidance in addition to financial help now will go a long way.

Five. Show your appreciation

Showing thankfulness to the people that have helped you is a really important part of the helping process.

People are more likely to help again and even spread the word about your cause when they feel appreciated.

The people that have helped will want to know how you're going and at the same time won't want you to spend huge amounts on thanking them - often simple is better. Some suggestions for showing your appreciation can include inviting the people that helped you, round to your house, having tea and a freshly baked cake or cookies on offer and thanking them in person.

About HelpPay

HelpPay is a 100%Australian owned company focused on making helping easier.

HelpPay's app is free for anyone to download and the HelpPay Promise ensures that money received to be paid towards a bill only ever goes to pay that bill.

Best of all the HelpPay app keeps a track of how much has been paid so when the full amount owed has been paid it stops accepting payments, providing peace of mind that bills can't be overpaid.

Download the HelpPay app from the Apple Store or Google Play Store for free, today.