Your friend or family member isn\u2019t the first person to fall upon hard times financially; we\u2019ve all been there. Discuss your personal hurdles, as well as how you overcame those issues. When somebody knows they\u2019re not alone in their struggles, it often gives them the necessary confidence to get back on the right track. Offer your assistance, but not easy money. If you do, you might be opening a Pandora\u2019s box of coming back for more.<\/p>\n
![\"Five](\"https:\/\/gay-sd.com\/wp-content\/uploads\/2018\/12\/1020.jpg\")
<\/p>\n
Help them set up a budget<\/strong><\/p>\n Do you have a budget that works for you? If you\u2019ve been successful in this area of your finances, there\u2019s nothing wrong with offering this \u201cservice.\u201d As easy as budgeting may be for you, others find it extremely challenging. Sit down with your friend, show them what a solid budget entails, and illustrate how they can use this to their advantage moving forward. Talk to them about how they can cut the fat from their expenses, show them how to use apps to get cash back, and teach them a few of your tricks on saving on everyday items, like gas and groceries. Laziness is no excuse to spend more than necessary, but it\u2019s the root problem of many people\u2019s financial crises.<\/p>\n Let them know that you\u2019re available in other ways<\/strong><\/p>\n Everybody faces rough financial patches from time to time. When you have somebody to lean on it\u2019s much easier to make your way through these periods and come out a better person in the long run. Don\u2019t turn your back if your friend needs an ear. Instead, let them know you\u2019re available \u2013 to talk, listen, and offer advice. You may be surprised at how much assistance you can lend by being their sounding board.<\/p>\n Review their income and expenses<\/strong><\/p>\n There\u2019s a fine line between helping a friend and going beyond your duty. If the person is open to you reviewing their financial situation, including income and expenses, sit down at a convenient time to see what is going on. Many people need another set of eyes for them to truly realize where they\u2019re running into trouble.<\/p>\n Note: If you are not comfortable with this, there\u2019s nothing wrong with telling your friend that you\u2019d rather not see their personal information. It may be easiest to simply give your friend money and hope it helps them financially. While it may get the person out of a jam for the time being, they are likely to face the same problems again in the future.<\/p>\n Show them how to make new money<\/strong><\/p>\n There\u2019s no shortage of fast ways to make cash if you work the gig economy to your advantage. Resources like Instacart, Airbnb, Lyft, Uber, Roadie, DoorDash and Rover.com provide opportunities to anyone with a home or car to make extra income with little effort. Any one of these resources can help bring in hundreds of dollars per week when you\u2019re dedicated, and that may be the ticket to getting your friend or family back on track without digging into your own pockets. They\u2019ll be better for it, too. Teach a person to fish and all.<\/p>\n