People in the UK: tell us if you've borrowed money from friends or family

F

Fair Frog

Borrowing from loved ones: the growing trend in UK households.

Four out of ten adults in the UK are relying on family and friends to get by financially. A recent survey revealed that 26% of respondents had borrowed cash from relatives, while 15% turned to mates for help. The main reason behind this trend? Rejection from traditional lenders like banks.

Younger generations, families with kids, and those on zero-hours contracts or lower-paid work are most likely to turn to friends and family as a last resort. It seems that when mainstream banks won't lend, the next door neighbour becomes the nearest lifeline.

The survey also exposed a shocking reality: nearly a quarter of UK households would struggle to cover a £500 emergency bill without borrowing from someone they know. For many, this isn't just about getting by – it's about survival.

Now we want to hear your story. Have you ever borrowed money from friends or family? Why did you turn to them for help, and how has it affected you and your relationships? Share your experiences with us and let's talk about the complex web of financial support that exists in our communities.
 
man, its crazy how desperate times can make us do stuff we never thought ido... like, i know some ppl who got loans from their fam just to pay rent or buy groceries, and it feels like a huge burden on everyone involved 🤯... i mean, whats the point of borrowing if you cant even repay? thats not really a help at all... but im guessin its better than losin out completely... its like we gotta find ways to support each other in our community without puttin anyone else in a tough spot... its a delicate balance, for sure... and what i find really sad is that ppl are turnin to their mates just cuz banks wont lend them money... its like, we should be liftin each other up, not relyin on someone just cuz they cant get help from the system 🤝
 
I'm really concerned about this trend in the UK 🤕. I mean, who wouldn't want to help out a family member or friend in need, right? But the fact that people are having to turn to their loved ones as a last resort because they can't get a loan from mainstream lenders is just worrying.

I think what's most shocking about this is that it's not just a short-term thing – nearly a quarter of households struggle to cover an emergency bill without borrowing. That's like, £500! It's not just a small amount of money; it's enough to put food on the table or pay the bills for a month.

I think we need to talk about why banks are so unwilling to lend to people in this situation. Is it because they're worried about the risk of loaning to someone who can't afford to repay? Or is it because they just don't see the value in supporting their own community members? Whatever the reason, it's clear that something needs to change.

As for the survey asking if anyone has ever borrowed money from friends or family, I think it's a great idea. We need more conversations about financial support and how we can look out for each other. But let's not just be talking about borrowing – we need to talk about prevention too. How can banks and lenders be doing more to help people get back on their feet? What kind of support systems do we need in place to prevent this from happening in the first place?

It's a complex issue, but I think if we all start having these conversations and sharing our experiences, we might just find some solutions 🤝.
 
🤷‍♀️ so they're basically saying we're all just a bunch of broke millennials who can't even get a loan from our favourite high street bank 🙄. like, what's next? asking your aunt for cash to pay off your student loans? 🤑 seriously though, it's kinda worrying that people are having to turn to each other as a last resort... it's not just about the money, it's about the emotional strain of knowing you're holding up someone you love. 💸
 
Ugh I'm literally worried sick about these people 🤕... borrowing from friends and family is not a solution to being broke, it's just a temporary Band-Aid on a deep wound... I mean think about it, you're basically putting your relationships at risk because of financial stress 💸... my grandma used to lend me money all the time when I was in uni, but now she's got her own health issues and I feel so guilty every time she lends me cash 🤕... what if the tables turn and we can't repay them? The thought alone is keeping me up at night 😩... and what about the stigma surrounding it? Like, people are already embarrassed to ask for help from banks, now they're having to go to their friends and family... it's just so unfair 🤷‍♀️...
 
idk what's goin on w/banks in the UK rn 🤔 they just keep sayin no 2 ppl who really need it 🤑 but it's not like ppl are askin for a free ride, they're just tryna get by 💸 my fam & i were in a similar spot last yr, me & sis had to borrow £200 from our mum cuz we lost our jobs 🤕 but she was there 4 us, so we paid her back ASAP 👍 the thing is, it's not just about the benjamins, it's about havin someone 2 turn 2 in times of need 💕
 
I'm seeing more and more people my age struggling to make ends meet 🤕... I mean, I've been lucky so far but I know some friends who have had to ask their parents for help with student loans. It's not easy for them, you can tell they feel guilty all the time about it 😔. But at the same time, it's good that we have each other, right? 🤝 I've seen people offer to lend money or just a helping hand without expecting anything in return. That's really admirable 💕. The thing is, though, when you're struggling like this, you start to feel like you're losing control of your life... and it's not something you want to admit to anyone 😬.
 
🤔 I gotta say, borrowing cash from loved ones is a super common thing nowadays 🤑. I mean, we've all been there where we need some quick cash for an emergency or whatnot. But honestly, it's not always the best idea 🤷‍♂️. I've had friends who were really struggling with debt after borrowing money from family and it kinda ruined their relationships 🤕.

I think banks should be more understanding and flexible with their lending policies instead of being so strict all the time 💸. It'd make a lot of people's lives easier, you know? And it's not just about getting by, like the article said, sometimes it's about having a safety net for when things go wrong 😬.

But at the same time, I get that some people do need help from friends and family, and that's okay 🤗. We should be supporting each other more instead of shaming people for needing financial assistance 👫. Let's just say it's a complicated issue and we need to find a balance 💯.
 
man, I'm seeing this trend and it's like... what's going on with banks nowadays? 😩 they're so strict about lending money, it's like they forgot that people need help sometimes. I remember when my grandma borrowed from me back in the day, she was struggling to make ends meet after her husband passed away. I lent her some cash and we worked out a plan together, and it was no big deal at all. nowadays, it feels like everyone's too proud to ask for help... 🤕

I feel bad for people who are stuck in zero-hours contracts or low-paid work, they're already struggling to make ends meet, but then you gotta rely on friends and family? that's just not fair. 💸 I'm all for a hand up, not just a handout, but it seems like banks have made it really hard for people to get the support they need... 🤔
 
idk why ppl gotta be so strapped financially lol like 26% borrow from fam?? thats wild...i think its cos traditional lenders are too harsh, always asking for proof this & proof that...it takes forever to get approved and even then its a bunch of interest lol what i do know is my aunt borrowed some cash from me a few yrs ago and it was ok, we had to talk about it tho and set boundaries so i didnt have to feel bad about not being able to pay her back ASAP...anyway think its crazy how ppl are having to turn to each other just cuz banks wont lend them the money...shouldn't everyone be able to get a loan or support from somewhere? 🤑💸
 
The notion of intergenerational borrowing is an interesting phenomenon 🤔. I think this trend reveals a pressing issue with the UK's banking system, which has failed to provide adequate support for those on the margins. The fact that four out of ten adults are turning to friends and family as a means of survival speaks volumes about the systemic failure to address poverty and inequality. It's concerning to see how the traditional concept of personal finance is being disrupted by economic necessity 📉. I wonder if we'll see a shift towards more community-based financial support systems in the future? 💸
 
I'm a bit worried about this trend, tbh 🤔. I mean, borrowing from friends and family is never easy, and it can put a strain on relationships 🤝. My friend did this once, and it was super awkward for everyone involved 😳. They had to have a big chat with their mum about the money, and it felt like a huge weight on their shoulders.

I think what's really scary is that people are having to turn to these 'loans' because they can't get help anywhere else 🤯. It's not just about getting by; it's about making ends meet 💸. I know someone who took out a loan from their partner, and it almost ended their relationship 😞.

It's like we're losing faith in the system, you know? Banks should be able to provide support for people in need 🌟. This trend is just highlighting how broken our financial safety net is 💔.
 
🤗 I feel so sorry for all these people who are having to reach out to friends & family because they can't get a loan from a bank 🙏. It's like, I know we're living in uncertain times, but shouldn't there be more support systems in place? Like, what if banks could offer some kind of emergency fund or something? 🤔

I've got a friend whose sister borrowed money from their parents to pay for her kid's school fees... it's not just about the cash, it's about being able to provide for your family without stressing them out too much 💸. I'm all for community support, but shouldn't we also be looking at ways to get people back on their feet so they don't have to rely on others in the first place? 🤝
 
I'm low-key worried about this trend 🤔. It's already tough enough trying to make ends meet, but having to rely on friends and family for a loan is just another stressor. I've got some mates who've done it before, and they always seem really anxious about it afterwards 💸. Like, what if you can't pay them back? What if they get mad at you? It's not like there are other options or anything 🤷‍♀️.

And yeah, the fact that banks won't lend to people in those situations is just... frustrating 😒. I mean, what's wrong with giving someone a chance to show they can pay back their loan? It feels like we're all being forced to take out loans from each other because no one else will help us out 🤦‍♀️.

I hope more people start talking about this stuff and sharing their stories 📢. Maybe we can come up with some new solutions or ways to support each other financially 💕.
 
Ugh, can't even get a loan from a bank without having to go begging to your aunties 🤦‍♀️... I mean, I guess it's better than being forced into payday lenders with those crazy interest rates 💸. But seriously, who needs friends and family to bail them out? It's like the banks are just setting us up for failure, right? 😒 And don't even get me started on zero-hours contracts – that's just a lovely way of saying "you'll never be able to plan ahead" 🤷‍♀️. Anyway, I'm sure it's all just one big happy family situation when you're relying on your mates for cash... until someone finds out and suddenly becomes "besties" no more 😒.
 
I MEAN COME ON!!! THIS IS LIKE, SUCH A BIG DEAL IN THE UK RIGHT NOW!!! 🤯 PEOPLE ARE GETTING DESPERATE AND TURNING TO THEIR RELATIVES FOR HELP BECAUSE MAINSTREAM BANKS WON'T LEND 'EM MONEY!!! IT'S LIKE, WHAT'S GOING ON HERE?! 🤑

AND YEAH, I CAN TOTALLY SEE WHY PEOPLE WOULD TURN TO FRIENDS AND FAMILY - THEY'RE RIGHT THERE, YOU KNOW?! 😊 BUT AT THE SAME TIME, IT'S LIKE, HOW MUCH CAN WE TRUST OUR NEIGHBOURS TO LEND US MONEY IN A PINCH?! 🤔 IT'S NOT LIKE THEY'RE JUST GOING TO BE ALL, "NO PROBLEM, TAKE MY LAST £10"!!!

AND WHAT ABOUT THOSE WHO DON'T HAVE RELATIVES THEY CAN TURN TO? DO THEY GET LEFT BEHIND?! 🚫 IT JUST FEELS LIKE THE SYSTEM IS BREAKING DOWN AND WE NEED SOME KIND OF SAFETY NET IN PLACE. BUT I GUESS THAT'S A WHOLE OTHER STORY...
 
I'm not surprised by this trend 🤔. I mean, think about it - traditional banking isn't always reliable or accessible to everyone. And when you're struggling to make ends meet, it's easy to feel like you've got no other options but to turn to the people closest to you.

For me, it's all about having a support network 🤗. I've borrowed from friends and family before, and while it can be tough to deal with the guilt or anxiety that comes with it, I know I'm not alone in doing so. It's like we're all just trying to look out for each other in our own way.

But at the same time, I worry about how this trend might impact our communities 🤝. When everyone's relying on each other financially, it can be hard to maintain healthy boundaries or distinguish between what's a friend and what's just a financial burden. We need to talk about ways to support each other without sacrificing our own well-being 💪.
 
You must log in or register to reply here.
Back
Top