Would you lend money to a loved one if they asked?

Would you lend money to a loved one if they asked? image

Money can be something of a taboo subject and lead to some extremely awkward social situations.


For instance, imagine you were asked by a friend or loved one if they could borrow some money – and you didn’t want to do it. Or if you did reluctantly lend somebody a bit of cash and they don’t pay it back. What do you do? 

In truth, saying these scenarios are awkward doesn’t quite doesn’t do it justice. Being in situations like these can be incredibly uncomfortable and anxiety-inducing, as you don’t want to offend or upset the other person, or risk causing problems in the future. 

Perhaps that’s why some of us are choosing to lay down some very clear red lines. According to a poll by payment app VibePay, eight per cent of people in the UK would never lend money to a friend or loved one. And many more are finding themselves on the fence, with 13 per cent saying they might lend cash to someone if asked, but not definitively saying that they would. 

It’s not without reason that so many people feel uncomfortable about lending cash, as it’s caused serious problems for them in the past. For example, nearly a third of those polled admitted that they’d previously fallen out with a friend or loved one over money, so it makes sense that many don’t want to find themselves in a similar situation again. 

The VibePay survey also looked into how people respond when those they’ve lent money to haven’t yet paid them back. More than three-quarters admitted that they feel awkward asking a friend or loved one to repay what they owe, while one in four said they don’t want to ask for the money back as it feels too difficult and uncomfortable. That explains why a third of those polled would prefer to ask for money they’re owed via text or phone call, rather than speak to them face-to-face. 

There’s no easy answer to the dilemma of what to do when people ask you for money or they don’t pay back what they owe. But it’s worth remembering the importance of being disciplined and saying “no” when you feel it’s necessary. 

Discipline is vital when it comes to managing your finances, so don’t feel you have to be a people pleaser if it’s not good for you, your relationships or your money. 



It is important to take professional advice before making any decision relating to your personal finances. Information within this article does not provide individual tailored investment advice and is for guidance only. We cannot assume legal liability for any errors or omissions it might contain. Ethical Futures llp is authorised and regulated by the Financial Conduct Authority.


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