 TITLE: 5 Tips for Borrowing Money From Friends and Family CONTENT: 5\\. Prioritize Your Loan Payments\n---------------------------------\nWhether you're borrowing money from a bank or a loved one, making your payments on time should be a priority. Again, your loan agreement should outline how much you'll be repaying each month and when. Treat this as a regular line item on your budget. You can even consider setting up automatic monthly bank transfers so that it's out of sight, out of mind (just make sure you have enough cash in the account to cover it). Alternatively, your friend or family member may prefer a check or to be paid with an app like Venmo or PayPal.\nIf you hit an unexpected financial hurdle along the way, be upfront with them as soon as possible, especially if they're relying on your monthly payment. Your willingness to find a solution and right the ship quickly may be enough to keep the relationship intact. END