Money is the most valued material these days. While so many things are influenced by money, you’d definitely realize that not only faith can move mountains but even money can do the same thing as well. With fundings and all, you can make great things happen – from purchasing all the things you want, traveling anywhere you wanna go, to funding your own business. You can really have it all. But, lacking money won’t satisfy the living experience. In fact, a lot of people have been miserable looking for money everyday. Well, earning is not a piece of cake. And the only easy way to have money is through borrowing.




Loans can be applied from either lending firms or family members and friends. Of course, borrowing from lending firms or banks may take a longer process with a lot of demands and requirements to meet. Therefore, most people would rather ask from their families and friends rather than apply for authorized cash loans. Maybe it’s a little easier but little do they know that borrowing may cause trouble between two parties in the long run. Here are five of the most common reasons why you shouldn’t consider borrowing money from your family or friends.
Ruined Relationship

There are lots of things that can ruin any form of relationship and one of them is money. In lending issues, several factors can be a source of fight between a debtor and a lender. First fuel of war, the sickening case of unpaid debts. I mean, having debt is fine but make sure you’re responsible enough to give back what you owed as soon as possible. We have toxic friends who will ask for money and just disappear the next day which would take them months or years to show up and make a payment. Another issue is the frequent borrowing syndrome in which a debtor keeps on borrowing money over and over again. You can borrow once or twice but never abuse the kindness of your friends, they’re not your savings account in the first place. And on top of these issues is grudging over the declined debt. Some people get angry just because their friends refuse to lend them money for some reasons.

Lack of Formality

Borrowing money from your friends is less formal than acquiring loans from the bank. And sometimes, the casualness of this setup can be taken for granted. Given you have these thoughts that since they’re just your friends, they’re close to you, and they’d understand your situation, then maybe it would be lenient no matter if you don’t pay on time or pay in partial mode. And because you presume these things, making a payment would be less prioritized.

Debt of Gratitude

As a courtesy, you give credits to the people who’ve lent you money when you needed it most. It’s been a norm for most lenders to make you owe more than a debt itself. Some will take advantage of the fact that they helped you and that you must be forever grateful in return. Sometimes, they will ask favors from you and your debt of gratitude obligates you to comply even if you already paid for it.

Trust Issues

If a friend lends you money, it means the person believes that you are accountable and creditworthy. However, failure to accomplish payment on time can be lenient but the fact that you failed to do so can ruin the person’s trust in you. And trust issues between good friends is much more meaningful than anything else.

Disparagement to Borrower

Good for you if you have these friends who always got your back. However, there are still moments of mistakes in choosing the right person to lend you. Not because they’re your friends doesn’t mean it’s safe to borrow money from any of them. Sometimes, ruined friendships by certain debt issues can lead to extreme fights and disparagements.


By: Sarah Contreras

Sarah holds a bachelor’s degree in Communication with expertise in certain fields like advertising and media marketing. She currently works as a web content contributor for Marketlend, the first peer-to-peer lender in Australia. What motivates Sarah to keep writing is her passion of providing information to all readers out there.