 TITLE: 5 Tips for Borrowing Money From Friends and Family CONTENT: 1\\. Look at the Bigger Financial Picture\n----------------------------------------\nAsking a friend or family member for financial help can feel awkward or put the other person in a difficult position. Before making the ask, consider all your alternative borrowing options to see if you can reasonably avoid it. Those with good credit might consider a personal loan or credit card to cover the cost. Interest rates may be higher, but it may still be a manageable way to get through it without asking friends or family for money.\nWhat do you need the money for? Borrowing from someone you know to buy a new guitar amp or handbag may be unwise. It's an option to explore, however, if you're up against an unexpected expense like a costly home or car repair, or you're at risk of being evicted.\nIf you're hoping to borrow from family or friends to buy a home, know that mortgage lenders like to substantiate all large deposits. The loan will count toward your overall debt, which could affect your eligibility. END