Should you borrow from family or friends?
It can be tempting to ask friends or relatives to lend you money. But you need to think carefully about whether you can afford to repay it and can cope with what might happen if you can't.
Pros and cons of borrowing from family and friends
Borrowing from a family member can provide emergency money and help you avoid forms of borrowing with very high interest rates, such as payday loans and doorstep lending.
If both parties are certain it will not harm a relationship with a family member if you don't repay, this is a good option as it is normally interest free.Read Full Article