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7 Strategies To Manage Frequent Financial Requests From People - Family - Nairaland

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7 Strategies To Manage Frequent Financial Requests From People by Moneyfem: 10:23am On Oct 29, 2021
If you're one of those people who get regular financial requests from people, the strategies highlighted below will be of guide:


1. Don't Ignore Their Calls or Chats: If you do this, you may be shooting yourself in the leg. Out of love, pick their calls and listen to them. Don't be surprised if you hear few months or years later that someone you've been ignoring has made it and now owns and controls bigger resources and property that you yourself do not have. That time, it may be painful that you've already burnt the bridge between you and the person. 

2. Avoid Rude/Proud/Offensive Response and Body Language: Some people adopt the strategy of responding to people who ask them for money harshly or sending negative body language just to discourage them from subsequent requests. A friend or family member may commit suicide if you do this and you will later feel guilty for their death. Also, someone in need today may be of any form of help tomorrow. Be wise.

3. Give What is in Your Capacity Per Time: Tell them clearly what you are able to give at that time without insulting them. If someone asks you for 10k and you have just 4k at that moment, ask for their account details and transfer the money to them.

4. Communicate Your Position/Circumstance Clearly: Hint them why you're unable to help at that moment. If that person is your close friend or family member, you may even go to his/her place to better explain your circumstance. Your circumstance may be that you just paid your children's school fees or you just settled hospital bill to discharge your loved one from the hospital. Communicate clearly.

5. Empower The Enterprising Ones Among Them: If you discover that a friend or family member is unemployed and regularly asks for financial assistance, you may decide to empower them economically. This may be in form of business grant, loan or training them on a lucrative skill that will put food on their table. This may be followed with basic business impartation and orientation. This orientation may be online or one-to-one.  

6. If you can't meet their financial request at the moment, be their for them in kind: For instance, if you don't have money to give someone who calls you for little money to buy food for her and her children to eat dinner, you may give them raw rice and ingredients if you have some at home.

7. Show Empathy and Counsel Them: When your friend is in dire financial need and you can't help him out at that time, it is wise to constantly call and engage him to show love. You may call to get feedback whether the need has been met. Encourage them. Motivate them. Suggest other alternative solutions or let them know when you will be able to render some help. Put yourself in their shoes and engage them based on that.

Those tips should help people who get multiple financial requests from people regularly.


OWOFEM.

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Re: 7 Strategies To Manage Frequent Financial Requests From People by Moneyfem: 7:07pm On Oct 29, 2021
Be there for them today. You too may need their financial, moral or political support tomorrow.

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