The hidden truth about asking family and friends for help to pay bills

Talking about money with family and friends can be hard, but the simple truth is that is happens all the time - often the only thing holding someone back from getting help is talking about it.

The most popular way to get help is not payday loans, or loans from a bank. The most popular way to get help is from family and friends.

People also use credit cards. But the reason why family and friends is better is that it is also a release valve. You can feel less under pressure, be under less pressure financially, and talk to family and friends, who will most likely help you out.

How Australia gets financial help

How does Australia get financial help to pay bills? According to NAB’s November 2022 consumer survey, equal first is asking friends and family (29%) and using credit cards (29%).

The reason why it's better to ask family and friends than take out loans or use credit cards is because it's a release valve. If you have more money than you need in order to pay your bills each month, then taking out loans or using credit cards means that you're still under pressure financially—you just have less of it now than before. But if you can talk to your family and friends about what's going on with your finances, then they will understand how much pressure you're under, which means that they'll be more willing to give you help.

Getting help from family and friends can feel daunting but once done you’ll be surprised about the flowing love and assistance that comes from them.

Why doesn’t anyone talk about it?

The reality is that people are talking about giving and getting financial help all the time, they are just being discrete about it. Suddenly proclaiming to the whole world you need help probably isn’t how most people would go about it, most people would have a quiet word with a close group of people who can be trusted, these small but highly caring groups include parents, siblings, and close friends, for most people.

But just because it isn’t visible doesn’t mean it isn’t happening. In fact NAB’s reporting suggests that not only are conversations about financial help happening frequently, the fact that it keeps happening, and has been the #1 or #2 way to get financial help for so long indicates that most of us actually are quite comfortable having a conversation about getting or giving financial help.

How people feel when asking and being asked for help

Surveys we here at HelpPay have conducted have found that 81% of people said they would help pay a family member or friends bill if they’re asked. And 72% said helping during a financial crisis wasn’t just the right thing to do, it was fundamental to who we are as Australians – it is part of our culture.

The top 3 feelings for being asked for help by a family member, a friend or a colleague were: honour, friendly concern and happiness. And, the top 3 feelings of ask and being helped to pay bills are: stress (before asking), relief (after asking) and happiness (when being given help).

The final word

Australians are a generous people and friends and family want to help, and mostly likely will do so, when given the chance to help pay.

Of course, asking for help isn’t easy – heck, offering help when you know someone needs it isn’t either, but the number 1 best way to get help, or give help is to have a conversation with someone you think can help.

And don’t worry – it’s far more common than you think, in fact it isn’t just ‘common’ to ask and get help from family and friends to get help to stay on top of bills: it is in-fact Australia’s favourite way to do it.

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 or use the web version of HelpPay, today.