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

[Neo Harpoon Syndi]

Borrowing from Loved Ones: A Growing Concern for Brits

When it comes to financial struggles, many of us might think of the banks as our first port of call. However, a new survey has revealed that an increasingly large number of people in the UK are turning to their friends and family for cash – and this trend is not just limited to those who have been rejected by traditional lenders.

The research, conducted among over 4,000 adults, found that nearly one-third (26%) of respondents had borrowed from family members at some point this year. Even more strikingly, a fifth (15%) had turned to friends for help with their finances. Younger individuals, households with children, and those in precarious work arrangements are disproportionately represented among these borrowers.

The survey also highlights a concerning reality: nearly a quarter of all households would struggle to cover an unexpected £500 bill without borrowing from someone they know. This raises serious questions about the availability of traditional financial support systems and whether they meet the needs of all members of society.

But what drives people to borrow from friends and family in the first place? Is it simply a matter of desperation, or is there something more complex at play?

We want to hear your story. Have you ever turned to a friend or family member for financial help? What led you to take this step, and how has it affected you and your relationships? Share your experiences with us – we're here to listen.

 

[Sil]

I'm seeing a lot of people relying on their loved ones as a last resort because traditional banks aren't lending...
It's not just about being rejected, it's also about affordability and accessibility of financial services
We need to rethink our systems so everyone has access to the support they need!
I drew a simple diagram to illustrate this issue: a circle with three interconnected arrows, each representing family, friends, and traditional banking. The center shows a person struggling, surrounded by the arrows. It's a reminder that we're all connected when it comes to financial stability

 

[Heavy Chicken Que]

I think its getting harder to trust the system when youre struggling financially . People are left with no other option but to reach out to their loved ones for help, which can lead to some awkward conversations later on . Its not just about the money; its about feeling like youve failed somehow because you cant afford the basics . I've seen friends do this and it affects their relationships in a big way . We need better support systems in place for everyone, not just those who are already struggling

 

[Outrageo]

omg this is so sad to hear that ppl r struggling so much financially i've been there too & it's not an easy situation to deal with, but i think we gotta talk about it more openly even if it means borrowin from loved ones, it can lead to some serious issues in relationships my aunt did this and now they r not speakin for a while, it was really tough 2 watch

 

[Lovely Lobster]

OMG yaaas I'm like totally freaking out about this!!! people in the UK are literally having to beg their friends and family for cash because they can't get loans from banks???! that's so not okay! what if you have no other options but to turn to them? it's already stressful enough when you're struggling financially. I'm all about supporting my fave brand, Apple , but this is like a whole different kind of problem. we need more financial support systems in place, stat!

 

[Helpful Hornet]

I mean I feel bad for anyone who's gotta resort to borrowing from loved ones cuz they can't make ends meet . It's like, banks got better terms now, but still people are struggling. And yeah, it makes sense that younger folks and those in unstable jobs would be more likely to do it – they're the ones with less financial security .

But at the same time, it's not just about the money; it's also about the emotional toll of having to ask someone you care about for help. I've got friends who've done it, and it's like, super awkward and stressful. They feel guilty, like they're burdening their loved ones...

I think we need better support systems in place, not just for people who can't get loans from banks but also for those who are just trying to make ends meet without having to resort to borrowing from friends and family. We should be able to rely on our communities and governments to help us out when we're struggling

 

[Suba]

People r really turning to fam & friends 4 cash now

 

[Team Architecture T]

I'm really concerned about people having to turn to their loved ones for financial help . I mean, can't we have a better system in place that supports everyone equally? It's already hard enough dealing with the stress of everyday life without adding financial pressure on top. I know some people might be able to get by just fine, but what about those who are struggling to make ends meet?

 

[Wild Wolf]

omg 26% of ppl in uk are borrowin from fam members?? thats crazy i mean im not surprised though, everyone's gettin pinched financially these days but what's even more alarming is that nearly a quarter of households cant afford an unexpected bill without borrowin from someone they know its like traditional lenders r not doin their job or somethin

 

[Luigi's Kabuki Coun]

I'm like, really worried about this trend ... Borrowing from friends and fam just 'cause banks won't lend is not a solution . We need more affordable options and support systems in place, you know? I mean, what if that £500 bill comes up unexpectedly AGAIN? Do they just wanna rely on the kindness of their loved ones forever? It's not a long-term fix, fam ... We should be advocating for better financial literacy and accessibility, not just relying on each other in times of need .

 

[Mich]

[Image of a person looking stressed with a £500 bill looming over their head ]

[GIF of someone's face with a shocked expression ]

[Image of a broken piggy bank with a red X through it ]

[Image of a friend and family member holding hands, with a "borrowing" arrow going between them ]

 

[Mystical H]

I think its kinda crazy that people are resorting to borrowing from their loved ones when they're already struggling . I mean, family is supposed to be there for you, right? But at the same time, can't we say the financial system is broken and needs to change? It's not like these people aren't trying hard enough or didn't think things through. Sometimes it feels like its too much pressure on those around us .

 

[Yucky Yak]

I'm so worried about ppl turnin to fam & friends 4 cash! It's not just abt desperation, I think its also because traditional luv don't feel like they can help or ppl feel ashamed 2 ask. We gotta make it easier 4 those in need, like maybe affordable credit options or financial advisors who can give good advice. We can't keep relyin on each other, we need a safety net that's not gonna leave us stuck in debt

 

[Urban Blood Fantas]

man this is gettin 2 weird times ppl r gettin desperate 2 the point they gotta ask their mates 4 cash lol 26% of people in UK borrowed from fam this yr that's like a whole lotta love... or some ppl cant even afford rent & havin 2 ask friends fer help

 

[Morbidly O]

I gotta say, I'm not surprised by this trend at all . People are getting more and more desperate as the cost of living keeps going up. And let's be real, traditional lenders aren't always the most reliable or trustworthy options . When you're already struggling to make ends meet, it can feel like taking a loan from your mate is better than going without something essential.

But what really worries me is how this trend is affecting relationships . Borrowing from friends and family can be a huge strain on those bonds, and it's not always sustainable in the long term . We need to have more nuanced conversations about financial support systems that don't just rely on kinship ties.

I'm all for exploring alternative options, but we need to make sure they're fair, accessible, and don't end up creating more problems than they solve . The stats are concerning, and I think it's time we had a proper discussion about how to address this issue without stigmatizing people who need help .

 

[Return of th]

so its like when me friend get into debt from online game lol but then they borrow money from me and i feel bad cuz i dont wanna be their savior what about the ppl who lend money, are they getting paid back or is it just a favor? also what if you cant pay them back, do u just ignore them or make some kinda plan

 

[Blus]

its like the system is breaking down fam... people cant get loans from banks anymore so theyre forced to turn to their loved ones who are already stressed out financially i mean whats next? having to beg our neighbors for cash because weve run out of options gotta ask, when did this become a thing? and why isnt anyone talking about it more? its not just about the money tho, its about the emotional toll it takes on ur relationships... can we talk about that too?