It can be really frustrating when we see family members not
managing their money well. It can be easy to think that we should just help
them out, but it does not always work out that well. Whether they have loans to
repay, have no savings or their income is low, you might think that you will be
able to help them, but you will need to think carefully about how you approach
Talk to them
You might think that you will be able to just talk to them and offer them some help and that they will take your advice and things will improve. However, this can be really difficult. They can easily take this as a criticism of them and that you are judging them on their situation. They might feel that it is none of your business. They might feel that you are just trying to act as if you are superior to them. It is therefore important to think carefully about whether this is the right approach and whether you should try something a bit different. It will very much depend on the personality of the person that you are trying to help and how open you think they might be to getting this sort of help. Timing could be very important as well. It could be a good idea to wait until they bring money or their finances up in conversation and then you can talk to them about it. Try really hard not to sound like you are preaching or even teaching but just like you are trying to be kind and helpful.
Give them money
Giving money to someone with financial problems might seem like the most obvious way to help them. The problem with this is that it might not turn out as well as you had hoped. You might feel that they will be grateful, they will use it to pay off their debt or boost their savings and their problems will be solved. However, they may be offended that you felt they needed help. They might spend the money on a holiday and not use it to get out of debt or boost savings. They might get themselves sorted and then get into trouble all over again. Without learning from their problems, they might just get into financial difficulties all over again.
You may also find that it could lead to them expecting you
to help them out every time they get into difficulties. Although you may not
mind, you will get to a position where you will no longer be able to afford to
help them out. You may also not be happy to keep doing it, especially if they
do not seem to be helping themselves to get out of financial trouble.
There could also be jealousy form others if they see you
helping out one person, they may expect the help as well. If they do not need
the help, they may think it is unfair that someone is getting help when they
are not trying but they work hard to get money and get no reward for it.
Lead by example
It can be wise to lead by example, show how good money management should be done and hope that others might learn form you or ask for help from you. This is much more subtle but might be the only approach that will work. It might be possible for you to drop into conversation how you manage money wise and this might help to show others how it is done. If you are a parent with children at home who you want to teach, then this might be easier than if you are trying to help those that do not live with you.
You could leave books lying around which teach you how to be
better with money in the hope that they might read them and learn from them.
You could also try to talk them through the household finances to explain to
them about paying their share or so that they have an awareness of how much
everything costs. It can be a big wake up call and may mean that they will
start to think harder about looking after their money better for when they
might really need it.
The approach that you take will very much have to be
tailored towards the individual that you want to help. Hopefully you will know
them well enough to be able to judge how they might react to different
approaches so that you will be able to choose one that will work for them. It
might take a while of thinking about it first and it is a good idea to do this
so that you approach things in the right way. If you make a mistake, you could
find that they will never want to talk about it again and you could make the
situation a whole lot worse.
If you want to make some extra money, perhaps to help to
cover loan repayments, to boost savings or to just clear some room, then you
might be considering selling some of the things that you own. The amount of
money that you can get for the items that you sell can depend on a number of
factors and it is worth thinking about these so that you can make the most
Choose the best place to sell
There are lots of ways to sell things and it can make a difference to how much money you make as to where you sell. Firstly, each place will have different fees and so it may seem sensible to sell at the cheapest. However, you may find that the cheapest places to sell at, do not give you a very high price and therefore you will make more money at a place that is dearer to sell at even though the fees are higher. For example, an online auction will have listing and selling fees but you will potentially raise a lot more money selling a batch of clothing compared to selling then at a car boot sale, where you will have a limited customer base who are all looking for a complete bargain.
Sell at the right time
Sometimes you will need to think about whether it is the right time of year to sell things. There are certain items that will be seasonal in appeal; such as Christmas decorations and it will make sense to put those up for sale in November or December. The same applies to seasonal clothing and other similar products. Also, you will find that coming up to Christmas people might be more likely to be looking for new things and so if you have second hand things they may not sell so well. There will also only be certain types of things that people will be buying then. If you are selling bikinis then you will want to sell coming up to the summer months. Even things which do not seem seasonal might be more appealing at certain times of the year. Therefore, have a good think about whether you need to time your sales carefully.
Take good photos
It is really important to make sure that you have good pictures of what you are selling if you are selling online. People will want to see exactly what they are buying and will be keen to ensure that it looks to be clean and in good condition. As they will not be able to handle the item or check it out for themselves, they will want to make sure that they can get all of the information that they need from the photos and any description about the items. Make sure that descriptions are really detailed even if you can see everything in the picture. Some people prefer to read details and it can improve your chances of selling.
Make sure it is clean and tidy
It is really important to make sure that the item is a clean and tidy looking as possible. The potential buyers will be put off by things that do not look very good. If you can wash, sponge or dust items, do so and make sure the background of your photograph is also neat and tidy or put it against a plain background. It might be worth taking it out of packaging or putting it in to make it more appealing. It is also worth taking lots of pictures form different angles. View them on your computer and phone so you can see what potential customers will see and that will allow you to choose the ones that you think are best.
It is worth doing a lot of research before you sell anything. Find out about all of the potential places that you can sell the item and see whether there are other people selling similar and how much money they tend to make from them. This will allow you to be able to decide where you think might be the best place for you to sell. Some might be more convenient than others and you will need to think about whether that is more important or whether you think that it is better to concentrate on trying to get as much money as you can for the item. It will take some time to take a look at what selling options are available and choose the right one. You might think that the research is worth it if you want to ensure you get the most money possible. However, you might think that it is not worth it if you just want to get rid of the items as soon as possible and are not so worried about making lots of money from them.