Does it look bad to ask your boss for a paycheck advance/short term loan?

I'm a 29 year old responsible female in a financial strap. I don't get paid until the 15th and, unfortunately, I screwed up my checkbook and made a wrong calculation which overdrew my bank account.

I work in a very professional environment and I have a very good repor with my boss. I've never asked ANYONE for money until now. My parents are out of state on vacation and my younger brother doesn't have any extra cash for me to borrow. I don't have anyone to ask and I am stressing out.

Does it make me look bad to ask my boss for a small loan (just so I can gas up my car to work next week - food isn't a big deal).??? I don't know what else to do and I literally feel like I'm going to throw up from the stress I'm feeling.

I'm humiliated mostly because he's a Financial Advisor and now he'll know I'm bad with my own finances.

9 Answers

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  • 1 decade ago
    Favorite Answer

    I've been there and I feel for you.

    I would talk to the bank first. Go straight to the bank manager. Tell them you messed it up and ask if they can help you. This is exactly what I did and they helped me by removing any fees that cause a snowball effect.

    I would make going to your boss an absolute LAST resort. He may gladly help you out, but it could bias his opinion of you. If you have no other option but to ask him, I would ask him with a confident attitude. Take him aside privately and ask him if you could possibly get an advance on your paycheck. Don't tell him the whole sad story, just tell him that you have a financial emergency and an advance would help you solve it sooner.

    Source(s): Lynn - what did you end up doing??
  • 4 years ago

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    RE:

    Does it look bad to ask your boss for a paycheck advance/short term loan?

    I'm a 29 year old responsible female in a financial strap. I don't get paid until the 15th and, unfortunately, I screwed up my checkbook and made a wrong calculation which overdrew my bank account.

    I work in a very professional environment and I have a very good repor with my boss....

    Source(s): bad boss paycheck advance short term loan: https://shortly.im/uNb5P
  • Tatem
    Lv 5
    1 decade ago

    Ya, I wouldn't ask him. He is the one that would give you a promotion at work, and that wouldn't work. I know your parents are out of the country, but they can still wire you money from where they are at. If you own a credit card I would use that for now. Figure out what you need until the 15th. Look at what groceries you do have a home and figure out some meals using them first and write down only what you have to have. Another thing you could do is borrow from a friend and tell them that you will let them hang on to something valuable that you own until you pay it back. Like a ring or a good necklace you own,or a camera.

    Don't worry I think we have all done this at least once, I know I did and after that I really concentrated on putting money into savings. I made it like a bill I paid myself first it started out being 20 dollars a week and slowly it got up to more. Another thing I started to do was put all my change in a jar and that can add up quickly. In one year I had enough money to buy my toddler son his Christmas.

    Good Luck......update us to let us know what happened. I will pray that some unexpected money comes your way :)

  • Nikki
    Lv 4
    1 decade ago

    I think it would be ok and I COMPLETELY understand where you are coming from..I dont have a good relationship with my parents so I would never ask them and my brothers well...I dunno I guess Im just too "proud" to ask for help. My boss however, knows me, knows Im responsible and also knows that things come up. I have asked him before and it wasnt a problem especially considering he knows where I work and signs my check...if anything they can just with hold it from you check as a misc deduction. I would just ask him and see what happens. If you dont want to tell him you made the mistake on your check book because he's a financial advisor and you dont want to look bad you could always just say you had an unexpected extra expense arise (flat tire, drs visit, etc) and you are now short on funds for gas til you get paid. Surely he will understand. The only way he may say no is if the company has a policy against it and if thats the case no harm done. Plus, the worst he can say is no :)

    You could also pawn something...maybe even something you still want...so just pawn it for the amount you actually need for gas $30 or so..that way when you get paid you can just go right back and get it vs getting all the $ you can for it then having to pay it all back.

    Or maybe pawn movies you dont watch anymore...

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  • 4 years ago

    In the current personal loan market your best choice is KNOWYOURCREDITOPTIONS.COM the reason I say this is because things are always changing. After the 2008 financial meltdown. Underwriting rules have been changing and they continue to make small changes all the time. It really doesn't matter if you have perfect credit or bad credit there are options for just about any situation these days. With that said its going to be impossible to answer your question.

    My recommendation is grab a quote from my previously mentioned place. You'll be able to see different kinds of programs and rates available for your personal financial profile . Not matter if its an emergency, vacation, or for private reasons; just about any situation is considered. No matter the credit or current job situation. Just let them know what you got and see whats possible from a top provider in the industry today.

  • 1 decade ago

    It really just depends. He may see it often, or not. While embarassing, if you want to avoid it... try other alternatives.

    Make quick cash with a yard sale... or take something to a pawn shop that you no longer use.

    Still need cash? Ask for an advance. The worst he can say is that they dont do those.

    Or to make it less embarassing: You could just say that your car is messing up unexpectedly and you have to get it fixed. Or your grandma (or family member) will be undergoing surgery (or is in the hospital) and you need an advance so you can see her on your day off since its a long way to travel. Something like that may make you feel less embarassed about asking. Life throws unexpected things are way... everyone goes through those things... they wont pry when you ask if you give them a serious excuse.

  • Anonymous
    1 decade ago

    Don't do that. It gives a bad imoression, and shows him that you are a poor personal manager, and may effect where you can go in the company.

  • geegee
    Lv 6
    1 decade ago

    I don't think it should affect your reputation in the office as long as you follow through with whatever repayment plan you agree to, and don't make a habit of this sort of thing.

  • 1 decade ago

    Well , i think that you have to be more positive .

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