Tips For Helping Someone Else Financially (When You’re On A Tight Budget)

Tips For Helping Someone Else

It can be really tough – watching those around you struggle financially. In this age of natural and unnatural disasters, it is an issue that will likely exist indefinitely. In addition to this, most of us have people in our lives who we love, but who maybe don’t make the best financial decisions.

While most of us can absolutely relate to having the desire to help someone who is in need, we don’t always have the funds to be able to help in that way. That said, there are lots of good ways for helping others without going broke yourself. Here are some tips for helping someone else financially even when you’re on a tight budget.

Provide the Manual Labor

If your friends or family have just been through a natural disaster, death in the family, are looking to sell a house or any other situation where there is physically more than they can handle, offer to pitch in with the cleanup.

Providing your time is often more of a generous contribution than money, so do what you can to volunteer to help on your days off from work or after school. Help to go through water-damaged items or take smoke scented loads of laundry home with you to wash. Offer to help donate no-longer-needed items to shelters or do some of the physical tasks that you see they can use help with. This will likely mean more than any financial assistance.

Give Them Resources

You don’t have to be the one to dispense the money when someone is struggling. Instead, help them hunt down resources in order to get help somewhere else. Whether it is links/phone numbers to a food pantry, a job, counseling, or financial assistance, give them information to help themselves. It’s a great place to start.

Help Them Apply for Programs

Just because you don’t have money to give doesn’t mean you can’t give your time. Offer to help someone fill out paperwork to apply for financial programs. If you can’t fill them out directly, offer to watch their children and/or pets so that they can have an afternoon to fill them out themselves.

Donate Plasma with Them

Did you know that you can get paid around $300 per month for donating plasma? (This may be a bit more or less depending on both area and current industry plasma needs). This is a nice chunk of change when you’re struggling!

Offer to donate plasma with the person in need – so they aren’t alone – and you both make money with your generosity. Do a Google search for where to donate plasma in your area to find the most convenient locations for you.

Pay Bills Directly

It is a good idea never to give someone cash, because you don’t know what it will be used for. Many times, a bad financial situation occurs because the person wasn’t wise with their money.

If you’d like to help someone financially, pay their bills directly, put gas in their car (don’t buy them a gas card – these often get cashed), or buy what they might need. This allows you to protect yourself by knowing exactly where your money is going, while still helping out here and there.

Help Them Make a Budget

The key to financial success is making a budget and sticking to it. One of the many reasons people struggle financially is because they lack the skills to save, plan, and be patient.

Teach your loved one how to budget their money so they have the potential for success here. You can read more about budget mistakes to avoid to help keep you both on the right track.  

Pay Them for Work

Do you have housework that needs to be done? Does your yard need to be mowed or does your storage shed need repainting? Instead of paying contractors to do the work, pay someone in financial distress. This helps build work ethic, but it also gives you the chance to help them financially.

If you plan to do this, be sure to write out a small contract. You don’t want to ruin a friendship over this kind of thing! If the job is worth $200 to you, be sure to agree on the price in writing so that no one is unsure.

Consider Combining Plans

If you trust the person you are helping, you could consider combining family plans (such as cell phone bills) to get a better deal. Many cellular companies offer better deals for two households with multiple lines than they do for one person. 

*A word of caution* – be sure that this is someone you can really, truly trust. If your friend has a history of not paying bills in the past, this could affect your plan and your credit as well as your friendship.

Just Say No

Sometimes tough love is actually what will help a person most. The fact that they always get bailed out of a financial situation (if you see a pattern) is only enabling them. When it comes down to it, saying no may be the best and only way you can help a person.

If you need a little emotional backup, my series on empowerment will hopefully help!

Ask for Donations

In some situations, there is a legitimate need where a person has fallen on hard times without being at fault. Between hurricanes, tornadoes and forest fires, most of us know someone in a situation just like this. In addition, if a loved one dies, a child gets sick, or a company closes their doors, you may feel your heart being torn even more.

Instead of depleting what little financial resources you may have, ask for donations to help. If many people offer $5, it goes a lot further than a one-time contribution from you. Consider anything from a GoFundMe page to a bowling party fundraiser. 

Just Be There

Whether someone has just been through a natural disaster or a personal one, what they often need more than anything is a shoulder to lean on. Offer to have them over for breakfast, come by for a chat or just be available by text whenever they need. Not everyone wants to talk about their issues on a regular basis, but knowing that you are there if they need you can be gesture enough.

Helping someone financially doesn’t have to drain you financially. The bottom line is that you care, not that you have money to solve any problems. Show your love and support without putting your own family at risk – there really are ways!