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Money is one of those topics that can be hard to talk about - especially when you're hoping to borrow money from a friend or family member! It's extremely uncomfortable and most people aren't quite sure how to approach the topic. Virgin Money allows you to personalize your own "Loan Proposal" in order to initiate that awkward conversation. Instead of just walking up to your parents or a friend and saying "hey, can I borrow a few hundred dollars?" you can approach them with an actual proposal that includes how much you're looking to borrow, how it will be repaid and how much interest the lender will receive.

I can't think of too many situations that are more uncomfortable than a conversation that revolves around asking a loved one for money. Unfortunately, there are times in many people's lives when asking to borrow money becomes a necessity. Virgin Money has an online system for creating a loan proposal that will help you prepare to approach your friend or family member and asking to borrow money.

Just as preparing for any situation gives you confidence and helps you succeed - with a little preparation, the conversation can be a lot less awkward and uncomfortable! Virgin Money offers four tips for people looking to ask someone they know to borrow money:

1) Be Yourself: Make sure you aren't asking people who can't afford to help for money and tell the truth about what you need or want to use the money for. When asking for the loan (using the Loan Proposal) do it in a way that is true to who you are.

2) Be Prepared: show how the loan your loved one extends can benefit them as an investment. The interest you pay on the money you borrow is likely to be better than the majority of that person's financial investments, especially with today's economy!

3) Play the "Virgin Money Card": If you think your friend or family would be worried about the money hurting the relationship,

4) Do it Your Way: you can show people how you plan to use the money with methods that are comfortable to you and do not make people feel obligated to lend you money.

Try using the loan proposal tool to get your plan together before approaching someone you know to borrow money: http://www.virginmoneyus.com/A wkwardConversation/tabid/400/D efault.aspx

Money is one of those topics that can be hard to talk about - especially when you're hoping to borrow money from a friend or family member! It's extremely uncomfortable and most people aren't quite sure how to approach the topic. Virgin Money allows you to personalize your own "Loan Proposal" in order to initiate that awkward conversation. Instead of just walking up to your parents or a friend and saying "hey, can I borrow a few hundred dollars?" you can approach them with an actual proposal that includes how much you're looking to borrow, how it will be repaid and how much interest the lender will receive.

Learn more about this author, JQ Adams.
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