Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money. If you have a question or need help, you can chat to them here.
There are lots of reasons why you might need to talk about cash. Maybe you deserve a higher salary, but you don’t know how to ask? How do you tell your best friend you’ve spent all your dosh so can’t go out tonight? Why should you foot all the bills when your partner doesn’t pay their share?
Here are five common money scenarios and how to tackle them.
We’ve all been there. You don’t want to burden your friends or family, but your paycheck won’t cover you for the next week. You need to borrow some cash.
Asking your family and friends is always the simplest way to borrow money without getting involved in high interest loans. Before you resign yourself to surviving on beans and toast, try to:
Many young people struggle to find the courage to ask their nearest and dearest for help. Mike, 21 from London, was no different, but when he did reach out he was happily surprised by his friend’s generosity: I had to swallow my pride and accept a friend’s offer of a loan when I was struggling to make ends meet recently. I guess I realised that it was okay to accept the help they offered so lovingly and not be the strong and independent young adult all the time.
There’s a party next Saturday, cinema night on Tuesday, and birthday drinks on Friday. But you’ve only budgeted for a week’s essentials.
It can be difficult to tell your friends you can’t afford to live it up every night. But there are ways to cut down on spending and still see your mates:
After work drinks can make the daily grind feel worth it. But splashing out on a round of drinks for your whole team every Friday can end up being a pricey night out.
If you think you’re worth more than you’re being paid, or you’re doing work additional to your job description, you’re within your rights to ask for a raise.
Money, where to get it and where it goes is one of the main causes of arguments for couples. It’s important to know how to discuss finances openly and honestly with your partner.
Money for Life work in partnership with the Money Advice Service, an independent organisation set up by government. Money AdviceService provides free, unbiased money guidance across the UK to help people make the most of their money. If you have a question or need help, you can chat to them here.