Often, when people require financial assistance from family members and friends, they will be in an uncomfortable position where they have to frequently ask for money. They will usually turn to the same people for support too and asking time and time again can be really demeaning. So, if you financially support someone, setting up more sustainable and predictable payments is one of the best things you can do for them.
Periodic financial support is much more useful than random and unpredictable support, and it is beneficial to create a payment plan for a loved one in need. Here at Give 360 Support, our platform is designed to enable groups of people to provide regular and reliable financial support to family members and friends, and creating a Give 360 Support account will be really advantageous. Below we have explored some of the biggest benefits of predictable, sustainable and periodic financial support.
When your loved one knows exactly when they’re going to be receiving financial support and how much money they will be getting, they will find it much easier to budget. Regular support enables them to carefully plan what they’re going to spend their money on and ensure they have enough in their account to get by until the next payment.
With a Give 360 Support account, accumulated donations will be paid out at a specific frequency and you can decide which date you’d like money to be transferred into the bank account nominated by the beneficiary.
Asking family members and friends for money can be awkward and it is likely something that your loved one will put off doing until they are really desperate. When you provide them with regular financial support in the form of periodic payments, they won’t have to go through the discomfort of asking for money time and time again.
You won’t have to worry about your loved one stretching themselves thin or going without essentials because they don’t want to have to ask for money again either. A Give 360 Support account can have a huge impact on their quality of life.
With the cost of living continually rising, your loved one will likely be feeling even more anxious about their financial situation. By giving financial support they can count on, you can help to prevent some of their money worries and help them to get by each month.
Worrying about money can have a big impact on day-to-day life and it isn’t uncommon for financial concerns to cause mental health problems. The reliable financial support you provide can help to improve your loved one’s general wellbeing and reduce the amount of time they spend stressing about when they’re next going to receive money into their account.
When experiencing financial difficulties and struggling to make ends meet, it can be really difficult to take control of your finances. Living from one paycheck to the next makes it impossible to plan ahead and your loved one may feel like they’re stuck in a never-ending cycle.
Providing financial support in the form of predictable payments will help your loved one immensely when they’re planning ahead and it will enable them to take better control of their finances and their future. They will be able to book things in advance knowing that they can actually pay for them, for example, providing some peace of mind.
There are several benefits to providing regular and reliable financial support to a loved one who is struggling financially. If you’re interested in setting up a Give 360 Support account, take a look at the rest of our website today. Our platform makes it really easy to give support and creating an account couldn’t be more straightforward. We can assure you that once you have used Give 360 Support to help a loved one in need, you will never go back to offering cash or setting up bank transfers again. To find out more about how Give 360 Support works, don’t hesitate to get in touch with our team today.