Skip Nav
Consumerism
51 Affordable Valentine's Day Gifts For Any Type of Guy
Disney
19 Facts About Disney's Very Own Private Island
Self Improvement
44 Quote Tattoos That Will Change Your Life

Is It Smarter to Borrow Money From Friends or Family?

I'm already hooked on HBO's new series How to Make It in America, which chronicles Ben, a young designer, trying to make it big with the help of his best bud and sidekick Cam. The boys are strapped for startup cash but full of ideas and happy to hit up whoever will listen — from friends and family to acquaintances — for loans and leads. Borrowing money for a business venture or a down payment is a touchy subject for most of us, but often necessary. When faced with no other option, would you rather take money from a friend or your family?

Around The Web

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

Join The Conversation
Spectra Spectra 5 years
Neither, but if I had to choose, I'd probably pick my family over my friends. In college, I borrowed some money from my parents and paid it back as soon as I got a better-paying job when I graduated. And my parents once borrowed quite a bit of money from me when I was in high school and had a good summer job.
snarkypants snarkypants 5 years
i borrow money from my parents. my job doesn't pay well, and i had to buy a new car last year, as mine unexpectedly broke down, so my expenses are pretty big right now. i don't think they actually expect me to pay all of it back. my mom jokes that if i don't pay her back, she'll just take it out of my inheritance. haha
socalbeachgal socalbeachgal 5 years
Neither but family would be better than friends. I would be rich if my sister ever paid me back all the money I've loaned her over the years but I don't expect to see a penny of it. I don't loan her money any more.
weffie weffie 5 years
I think it depends on who your friends and family are... For most people I would think family is the safest bet because you're tightly bonded so it's less likely you'll have big falling-out over something petty. That being said, I also had a roommate once whose parents were kind of trashy and resented their kids just for asking for favours, so I'd always help her out if she was in a pinch. It really depends on who you surround yourself with. I can think of at least a dozen people who would still love me no matter what I owed them, so if I needed a loan I'd probably base it on who would miss the money the least rather than whether we're related.
skigurl skigurl 5 years
neither, but i'd choose family if i had to choose for sure...when i was in school and stuff i'd borrow small amounts from my parents, and my brother and sister and i have been known in our younger years (in less stable jobs) to lend each other cash until payday and whatnot, but it's like 20$ or 50$ max and we pay the other back within a week i'd never want to borrow a large amount, never!
bellaressa bellaressa 5 years
I could not vote and must agree with the two posters above, neither.
supercoolnat supercoolnat 5 years
Neither.
runningesq runningesq 5 years
Neither. Seriously, if you loan money to friends/ family, consider it a gift.
Latest Career & Money
X