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Guides: asking for time or money, lending, and taxes
Each guide has something you can use straight away: a script, a calculator or dollars worked out, with the official source and the date we checked it.
Asking for time or money
How to ask a friend to lend you money
It's OK to ask once, for a specific amount, with a date you'll pay it back and a real chance to say no. Here are messages that do all three.
How to ask a sibling or grandparent for money
The kind way to ask is also the clear way: one exact amount, one payback date, "is this a loan or a gift?" said out loud, and an easy way for them to say no. Here's how that changes for a brother or sister versus a grandparent.
How to ask for more hours at work
Asking for extra shifts is one of the most normal requests a manager gets. Say when you're free, how many hours you want, and that you're flexible. You don't need to explain your money situation.
How to ask your boss for a pay advance
An advance from your employer usually costs nothing. Ask privately, name the exact amount and the payday it comes back out of, and offer to put it in writing.
How to ask for more time to pay rent
Ask before the rent is due, not after. Offer what you can pay now, name the exact date for the rest, and get whatever you agree in writing. Your lease sets the late fee; 16 states and D.C. put a legal limit on it, and 12 states and D.C. give a grace period by law.
How to ask your parents for money as an adult
Plenty of adults ask their parents for help. What keeps it healthy: a specific amount, a clear answer to "loan or gift?", and a plan so it doesn't become a monthly habit.
Credit card hardship programs: can you ask for a lower interest rate?
Yes, you can ask, and you don't have to be behind to do it. Many card companies have hardship plans that lower the rate or the payment for a while. Ask what it changes before you say yes.
How to write a financial hardship letter
A hardship letter says what happened, what you can pay now and what you're asking for, on one page. Fill in the form and you'll have a letter ready to print or email.
How to ask family for money (and is it bad to ask?)
It isn't bad to ask. What makes it go well is being specific: the amount, what it's for, whether it's a loan or a gift, and a payback plan you can really keep. And if you already owe them and can't pay on time, the kindest move is to say so before the date.
How to get a late fee waived
Pay the bill, then ask straight away for a one-time courtesy waiver. It's a short, polite call, and it works best when this is your first late payment in a long while.
Can I get an overdraft fee refunded?
Often, yes, if you ask. Many banks can take back a fee as a one-time courtesy, but only if you call or message them. Here is what to say, what to ask for if they say no, and how to stop the next one.
What to say when a debt collector calls
Keep the first call short. Get their details, ask for everything in writing, and don't pay, promise or admit anything until you've checked the debt is really yours and the amount is right. Here is the script, and the rules that protect you.
When you're the lender
How to ask someone to pay you back
Most people who owe money haven't forgotten; they're embarrassed. A clear, kind message with an amount and a date gets more money back than hints do.
Family loan agreement template: borrowing money from family, in writing
A one-page agreement protects the money and the relationship. Here is what to put in it, clause by clause, with sample wording you can copy, a worked example, and our free generator to fill in and print.
What interest rate should you charge on a family loan?
There's no rate you're required to charge, but the IRS publishes a minimum each month, called the applicable federal rate. Charge at least that and the special tax rules for low-interest loans don't apply. Here's October 2026's, and what the difference is in dollars.
How to lend money to family legally
Lending to family is legal, and for most small loans the paperwork is simple. Five steps keep it clear for both of you and for the IRS: decide loan or gift, write it down, pick a rate, record every payment, and know what you'll do if payments stop.
How to say no when someone asks to borrow money
A clear, kind no now is easier on both of you than a reluctant yes that ends in a repayment fight. You don't owe a long reason.
How to write an IOU to a family member (with a sample)
An IOU is a short note that says who owes whom, how much, and when it will be paid back. For a small family loan it takes five minutes and saves a lot of "I thought you said..." later.
Loan or gift? How to decide before you hand over money
A gift is finished the day you give it. A loan is a promise you'll both carry for months or years. Decide which one this is before any money moves, and say it out loud.
Promissory note for a personal loan: what it is, plus a free template
A promissory note is a written, signed promise to pay back a set amount of money. For a loan between family or friends, one page is usually enough. Here's what goes in it, clause by clause, and a filled sample you can copy.
Is it bad to co-sign for someone? How to decide
Co-signing is borrowing the money yourself and hoping someone else pays it. It isn't always wrong, but say yes only if you could pay the whole loan without them, and you'd still be OK with them afterwards.
Should you lend money to family or friends?
Sometimes, yes. The rule that saves most relationships: only lend what you could afford never to see again, and write down what you both agreed.
What to do if someone owes you money and won't pay
You've asked nicely and nothing happened. There are five steps left, from a last clear message to small claims court to letting it go, and each one costs a little more of the relationship than the one before.
What co-signing a loan means for you
Co-signing means promising to repay someone else's loan if they don't. The lender can come to you first, and the loan counts as your debt even when every payment is on time.
Taxes
What is Form 982? The insolvency exclusion, worked out
If a lender forgave part of what you owe, the IRS usually counts that as income. But if your debts were bigger than everything you owned just before the cancellation, you can leave some or all of it out, by filing Form 982. Here is how the numbers work.
Interest-free loans to family: the tax rules, with a worked example
Yes, a parent can lend you money at 0%. The IRS doesn't forbid it. Above $10,000, though, the tax law may pretend interest was paid, and the lender may owe tax on money they never received. Here is how it works, in dollars.
IRS first-time penalty relief: who qualifies and how to ask
If you've filed and paid on time for the three years before, the IRS will usually remove a late-filing or late-payment penalty if you ask. From summer 2026 it's becoming automatic for 2025 returns onward.
IRS reasonable cause for penalty abatement: what counts and how to ask
If something outside your control stopped you filing or paying on time, you can ask the IRS to remove the penalty for "reasonable cause". This is the route for people who don't qualify for first-time or automatic relief, or whose penalty those don't cover.
Can you pay your taxes with a credit card?
Yes. Two IRS-approved processors take cards, for a fee of 1.75% or 1.85%. If you can't pay the card off quickly, an IRS payment plan usually costs less; the calculator shows by how much.
Tax refund advance: how it works and what it really costs
A refund advance is a loan from a bank, paid back out of your tax refund. Some charge 0% interest, but you usually have to pay for tax preparation to get one. Here is what a $1,000 advance cost in 2026, next to filing for free.