7 Tips While Borrowing Money from Friends and Family


Bangalore: Money is sometimes a savior and sometimes the cause of all evils. Even if you have a fat bank account, but the need and want for money never ends. Whenever you fall short of money to pay for unexpected events, you usually end up borrowing money from your family or friends. At that time your may feel that your folks are the only rescuer you have, but later you may realize that these relatives have changed just because you don’t pay them back on time.

If you don’t want some bitterness to enter in your relations, then follow these points to make your borrowing easy, reports bankrate.com.

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1. Think before Borrowing from Family or Friends

Friends and family are our easiest catch for financial help. But you often forget that your regular borrowing habit and delay in repayment of loan can make things worse between you both. The best way to manage both your financial needs and relations is to avoid asking money from your kins to fund some unnecessary expenditure. In case you took money for some major issue then make sure you return them the amount before they start bugging you in the family gatherings and social parties.

Also Read: 8 Ways You Get Conned Financially