There are a number of different scenarios that can result in a loved one needing financial support. Whether your parents are struggling after retirement, your sibling is in need of extra sustenance income or your child is trying to buy their first home, for example, you may wish to provide financial assistance to help those closest to you in their time of need.
Give 360 Support is a brilliant platform to use when you’re wanting to financially support a family member or a friend. Not only is it a great alternative to setting up a standing order, but it is much more convenient than bank transfers and handing over cash. If you’re wondering, ‘how does Give 360 Support make it easy to provide financial help to loved ones?’, below we have explored the answer to this in much more detail.
Creating a Give 360 Support account and inviting new members to the support group will prevent you from having to solely support a loved one. You can get lots of different people involved to ensure you’re able to provide the ongoing financial help they need.
Of course, the more members in the support group, the less weight each member carries and you won’t have to worry about not being able to provide the total or lump sum of money required. Even if all members only contribute a small monthly donation, for example, this will soon add up and together you can all ensure your loved one is getting meaningful financial help.
When you set up a Give 360 Support account, the platform will essentially take care of everything for you. You won’t have to worry about repeatedly asking people for money and chasing them when they don’t provide you with the amount they said they would.
You will receive an ‘invite email’ when you first create a Give 360 Support account that you can send to friends and family who are willing to become members of the support group. Members can decide how much they’d like to donate periodically and the account will then collect all of the donations. This can make things much less stressful for you.
Not only will the Give 360 Support account accumulate the donations from group members, but it will also ensure they’re paid out to your loved one. You can choose a payment date and specify how frequently you’d like to provide a lump sum to the person in need.
Providing other financial support allowance in the form of periodic and predictable donations is really beneficial for your loved one. They will then know when they’re going to receive money, enabling them to plan ahead and budget for the future. Ultimately, they will be able to take better control of their finances and this will likely help them to get back on their feet as quickly as possible.
It can be really difficult to keep track of how much money you’re providing to your loved one and the odd £10 here and there can easily be overlooked. However, Give 360 Support will help you stay on top of things and ensure you always know how much money is changing hands.
An account statement detailing all donations and payouts can be circulated to members of the support group on demand, providing maximum transparency to all involved. The platform is designed to provide you with notification alerts at every step of the journey when you’re providing financial support to a loved one too, preventing any unexpected surprises.
Ultimately, Give 360 Support can make it so much easier to provide support to a loved one who is in need of some financial assistance, whether this is long or short term. Our platform is designed to make providing periodic, predictable and sustainable financial support to friends and family members completely stress-free, and we can help to take the pressure off of your shoulders when you’re trying to help someone in need. Should you have any questions about how Give 360 Support works, take a look at the FAQ page on our website. You can also get in touch with our team, we will be happy to provide you with any additional financial information you may require about how our platform can assist you.