It is often stated that borrowing money from a friend can damage the friendship. I agreed with this statement for several reasons: lack of legal force, taking advantages of close relationship. Besides these reasons, I have very good experience to explain my opinion in the past.
Borrowing and lending money is not as same as a loan from a bank, which means there is no compulsary to pay back. When people borrow money from a bank or a financial company, there is legal force to pay back within certain period of time. If a debtor does not follow the schedule, there will be legal consequence. It makes debtors to pay their loan. When a friend is in financial trouble, it is common logic that people want to help the friend, however because there is not enforceable for a friend to return the money, it is needed to have conscience and morality.
Furthermore, people tend to take advantage of their good relationship. In other word, it can be said as neglecting relationship. There was a case study by the phychologist from Hankook National University in 2007. Study participatants borrowed money from A, a friend of each participant , and B, college classmate or colleague and promise A and B to pay back within a month in condition. As due date was getting close, it was founded that the most of participants returned B money first before paying their friends . The phychologist questioned those participants the reason why they paid B first. 78% of them answered that they believed a friend could understand them even if they do not pay in time.
As i mentioned above, i have a experience of damaging the friendship due to lending money. It happend when i was attending university. A friend of mine came to me and cried that she couldn't pay her university school fee becuase of economic down turn and the school warned her to be expelled. Her tears moved me so I paied her shool fee in behalf of her. It was not easy decision but I trusted her to pay me back as soon as she gets a job. After two years, she entered post university course instead of getting a job. In addition, I was told that she went for holiday with boyfriend and she did some kind of plastic surgery. When I asked her about that situation and requested returning money, she literally humiliated me by saying I was money face. By few monthes of begging I finally got back some amount of money from her, it was little wonder we have not not keep in touch.
Leaving my painful experience aside, it is often noticed that how people's friendship was ended because of money. The senior people always say that do not mix friendship with money. I strongly agreed that borrowing money form a friend cna spoil ther good relationship.
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