Jamie, 29, is a responsible individual who regularly uses the ATM before leaving the house. She doesn’t mind covering her friends when they go to a location that only accepts cash. However, she finds it so “mentally taxing” to remind friends to pay her back that she will only follow up on a Venmo request once before giving up completely. “I wish I had the guts to ask for a refund in front of someone, but I find it too awkward to do that.” I literally don’t think it’s worth the money to make things awkward,” she says.
Navigating money and friends can be complicated. You don’t want to refuse someone you care about when they ask you to help them out, but you also want them to pay you back promptly, whether it’s a friend who left their wallet at brunch or a roommate who is behind on rent. A 2018 survey of 9,000 U. S. adults from Zelle, an app where you can send and receive money, found that 28% of women will wait until someone sends them money for their portion of the bill rather than asking them to pay them back The end result? 86% of women reported not being paid back after covering a shared expense, such as concert tickets or a meal for friends, with 16% of women saying or this happens %E2%80%9Call the time ” Sound familiar?.
Ella, 30, believes that in addition to being gifts, financial favors should also be offered without grudges. She tells Bustle, “I won’t offer to help in the first place if there’s a history of one-way lending with this person or a chance it might ruin our friendship if they can’t pay me back. When mixing friends or family with money, she advises setting boundaries. “I know that might sound cold, but it’s important to have those,” she says.
A friendship may suffer if you lend money, says Kathleen Grace, C F. P. according to the managing director of United Capital’s Boca Raton, Florida, branch. However, if you’re like the majority of us, you may occasionally feel compelled to assist a friend in need. She advises, “Before considering lending a friend money, keep in mind that you might never see it again. “In other words, consider it a gift,” Grace says. This way, even if you never receive all or some of the money back, you won’t be too upset. ”.
- Avoid letting too much time pass from the payment due date. …
- Set up an emailing schedule. …
- Send polite reminders before the due date. …
- Send a polite but direct email on the due date. …
- Firmly remind them when your invoice is overdue. …
- Call them if they still don’t pay you.
How to ask someone to pay you for work
When you need to ask someone to pay their fee for work you completed, you can follow these steps:
1. Avoid letting too much time pass from the payment due date
You can increase your chances of receiving your fee without any additional issues by emailing your client after the payment deadline has passed. Your email can persuade the client to make the payment right away if they had simply forgotten about it or were planning to do so soon. If not, it serves as a notice and a reminder, increasing the likelihood that the client will give your payment priority in the near future.
2. Set up an emailing schedule
Setting up a clear process for emailing clients about payments could be beneficial. Establishing a consistent emailing schedule for all clients can also show professionalism. For instance, you could plan your schedule so that payment reminders are sent three days before the due date, on the due date of the invoice, and three days after that date.
3. Send polite reminders before the due date
Sending an email asking for payment ahead of time should be done in a polite and helpful manner. You can begin by saying that you enjoyed working on the particular project and that, as was agreed upon when you agreed to collaborate, you attached the invoice with the pertinent due date. A friendly way to conclude is to invite them to get in touch with you if they have any further inquiries and to say that you look forward to working with them again in the future.
4. Send a polite but direct email on the due date
Your email should be a little bit more direct than usual if the payment deadline day has arrived and the client still hasn’t made the payment. The email body must directly address the issue by stating that you are sending the email as a quick reminder that the payment is due while maintaining a friendly and helpful tone. Pointing out various payment options and asking if they have any other questions about payment will help you highlight your desire to assist.
5. Firmly remind them when your invoice is overdue
When the payment deadline has passed and the client still hasn’t made the payment, send him another email politely but firmly informing him that the payment is past due. It’s crucial that the email text remains cordial and formal.
6. Call them if they still dont pay you
Calling the client is typically the best course of action if there is still no response. There’s a possibility that they haven’t received your emails or that an unforeseen event has prevented them from responding or paying you. When you call, identify yourself, let them know why you’re calling, and why they should pay you. If they don’t respond right away, maintain a friendly demeanor and try again.
7. Use a debt collection agency for large unpaid invoices
If the customer still won’t pay or is impossible to reach, you can either record the loss or, if you think the sum is worthwhile, hire a debt collection agency. An official debt collection association member agency is typically a wise choice. However, you would probably have to pay the organization a portion of the debt.
Why is it important to ask for payment?
When working on a specific project for a client, you typically establish the upfront payment required as well as the payment due date. However, some clients fail to pay by the due date or refuse to pay at all for a variety of reasons that are not related to the quality or timeliness of the work. Finding ways to request payment from the client in these circumstances is crucial to maintaining your good standing with other clients.
Tips for effective payment reminders
Considering the following advice will increase your chances of getting paid by the client:
Payment reminder email template
For situations where a payment is past due, think about using this template:
Subject: Overdue invoice payment
Hello [Client name],
I’m sending you this email to quickly remind you that your payment for invoice [invoice number] due on [due date] has still not been received.
I have attached the invoice to this email as well. Details about the various payment options are provided in this email’s signature.
Please let me know if you have already made the payment so I can track it. If not, kindly do so right away or get in touch with me to discuss postponement terms.
Payment reminder email example
If you ever need to email a client about a past-due payment, you can use this example as a guide:
*Subject: Overdue payment*
I’m writing to quickly remind you that invoice number 294—which was due on August 2 of this year—has a balance of $2,300 that needs to be paid.
You can find several payment options in this email’s signature, and I’ve attached the invoice as well.
Please let me know if you have already made the payment so I can track it. If not, kindly do so right away or get in touch with me to discuss how we can postpone it.