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Isn’t that question eternal? To borrow or not to borrow? Well, we all hope that there won’t come a moment in our lives when we will desperately need money, which we will unfortunately don’t have in our bank account, but despite all our prayers, it sometimes happens. And we are miserably sitting at home with an excerpt from the bank account, a wallet full of empty debit cards and not a penny, and a glass of wine to drown away the agony, wondering, is it ok or not, to borrow money from family and friends? This is indeed a very delicate situation and the bad news is that no one can give you some proper advice.

“Money and friends don’t go well together”, some say. “Make sure that you take money from people you can trust only”, add others.

And you are still sitting here, with the second glass of wine, unable to make the best decision. Your family and your friends are indeed the people who you know best, you know that they won’t take advantage of you as well, they know you and you trust them, so everything seems pretty good. You will explain the situation, they will understand it perfectly, they will lend you some money and this whole horror will finally end. But what happens if you are somehow not able to give them the money back? And this is a scenario only, something that may never happen. But is it worth it though – to risk your perfect relationship, your love and trust, to risk your friendship? Losing a friend is far worse than losing money, we are all aware of this fact. And drinking the third glass of wine, you are still in two minds: is it do or don’t? 

Work out a budget

Get rid of the wine now and make a budget: plan your expenses for this and the next couple of months, taking into consideration the money you have and this you will most probably get in this period of time. And only after that, estimate if you would be able to give back the money you want to borrow. And if this leads to a situation, where you return the loan, but you are in the same position and you now have to borrow money from another friend, it’s not lucrative at all.

Your solution

After you have made that budget, you should find your solution. It is not something another person recommends to you, it is just the best option for your personal needs. If you will thus somehow risk your connections with these people, who are so important for you, just go to the bank and take a credit. If you need a small amount of money and you are sure that you will return it right before the deadline you set, do it, and yet the friends are here not only to share your happy moments, they are here to help you, to protect you.