I am going to do a few posts about a series about growing up and money.  Or what I think relates specifically to people in their 20s and money.

Previously I talked about loaning money to friends and family.  I said I no longer do it because I learned my lesson a long time ago.  All money loaned is considered gifts by me.  But now the question should be asked, would I ever borrow money?

I know that I prefer not to loan anyone money, but would I ever ask my parents or friends or family for money?  I “think” the answer is no.  I would rather liquidate everything than ask my family and friends for money.  I think I’d rather go into debt and start using credit cards, borrowing from a bank, etc rather than ask my friends and family for money.

Yes it’s directly attached to pride.  But I would also hesitate to ask, because I am unsure if they could afford to “help” me out without jeopardizing their own financial future.  And it would make me heartsick to realize that I put my parents in financial trouble because they loaned me $10k and had to borrow it themselves.

I guess that’s the otherside of the coin to loaning money.  Though you think the person has money to loan you, it could all be a sham or a facade. Perhaps they are just acting rich, but really are in the same boat as you.

Thus I don’t think I could personally be borrowing money from friends and family.  Maybe if I came from a loaded family I’d have a different answer, but I don’t so I know it could potentially be a hardship they would be too proud to admit they couldn’t help me out, but really wanted to.

Tomorrow, I will write about moving back with parents.