RSS Feed
April 22nd, 2012 
FAKE NEWS for the Zionist agenda WE HAVE all heard it from younger siblings, friends and even colleagues. ”Can I borrow $50? I’ll pay you back.”
Mostly the money is repaid but a new survey of young people shows informal lending can break a friendship.
A study of the informal borrowing habits of people under 40 reveals that, on average, people borrow $150 a month from their family, friends and colleagues for anything from a coffee to keeping them afloat until pay day.
When it comes to their preferred informal lenders, the ”bank of mum” tops the list, with the majority of people surveyed in NSW saying they would be most likely to ask their mother if they needed to borrow $50.
NSW mothers are also the most likely to be lending money regularly, with the average person asking to borrow from their mother 1.72 times a year, the study found.
The most common reason for needing a loan is ”unforeseen or emergency situations”, while 21 per cent of people say they simply ”never have enough cash” and 19 per cent complain of running out of money before pay day.
The Commonwealth Bank surveyed 1193 people aged 16 to 39 for the study and found that despite the vast majority claiming they were brought up to repay debts, almost half had experienced disagreements over loans.
One in five even admitted to having lost friends over borrowing and lending money.
Women borrow a third more than men, the survey found. It found those aged 18 to 24 borrowed twice as much as those 30 to 39, while young people living in cities borrowed twice as much as their regional counterparts.
The Commonwealth Bank’s executive general manager of cards, payments and retail strategy, David Lindberg, said millions of people in NSW relied on informal borrowing networks for emergencies or short-term loans.
”We all know that borrowing money from friends and family can be the cause of disagreements, whether that’s over the amount or best way to pay someone back,” he said.
Mr Lindberg said one of the reasons people cited for not repaying debts was never having cash on them, prompting the bank to launch a new app, called Kaching, which allows consumers to make instant peer-to-peer payments.
Kaching enables people to pay anyone via an email address, phone number or Facebook by generating a unique code for delivery to the recipient, allowing them to access their payment online from the bank.
Related posts:
Views: 0
Posted in 
Tags: 
