Does borrowing money harm friendship? Do you agree or disagree?
Due to individuals’ unlimited want and desire, sometimes they loan
money
from their acquaintances. So, they could fulfil their needs. While most contend that borrowing funds inflict friendship, I repent that it is valuable. This
essay will support why it is plausible to borrow money
from our friends.
One can think of various reasons why borrowing money
from friends is detrimental. Firstly
, it psychologically bothers individuals lending the money
. For example
, if a person lends money
, he will worry if the other party will return it. As a result
, they will be psychologically invested, and discrepancies in payment may miff them hence
ruining relations. Secondly
, the chances that the person receiving the payment not paying their debt is highly probable. There are many instances where people taking money
are unable to pay their debt.
However
, it is beneficial to take a loan from colleagues. Since the interest rate of banks is usually high, and sometimes they would want collaterals, it is better to own it from friends instead
. Similarly
, in some emergencies, our colleagues will be easily accessible to lend us some money
. For instance
, if someone from a family member gets sick, going through all the legal process, and requesting money
from banks may be an ordeal. As a result
, our acquaintances are the one whom we can rely on.
In conclusion, although
asking for a loan from friends would psychologically bother them, they would not want risk involved, and may distort the relations, sometimes it is valuable. It is beneficial in case of emergencies, and when the cost of debt is high in banks. Therefore
, I would personally ask my friends for loans in case of emergencies.Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Writing9 with appropriate and specific direction to the original content.