Stat of the day: 1 in 4

The number of people who have lent money to friends

by Elizabeth Anderson
Last Updated: 09 Oct 2013
It appears the nation's scroungers have finally used up the resources of the Bank of Mum and Dad, and are now turning to friends to dole out the cash when they’re facing financial hardship.  

According to research by the Post Office, more than a quarter of people have lent money to cash-strapped chums in the last year - and less than half of that money has been paid back.

Apparently, loans of more than £7bn have been given to friends over the last 12 months, with the the average person lending four friends £133 a time. Seems a bit generous to us.

Still, it seems borrowing off friends has one significant advantage over going to the bank: none of the friends in question charged interest, while nearly one in five said they didn’t remember how much they’d handed over in the first place.  

But although friends didn’t charge interest, many were rewarded in other ways with dinner, alcohol or just a thank you card. A more creative approach to paying back money, but probably one that won’t work on your bank manager.

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