Bah humbug! One in three wouldn’t lend to a friend at Christmas
Photo Credit: dutch blue via Compfight cc

Christmas is a time of generosity of spirit and goodwill towards all men and women – unless it’s a friend or family member looking for a handout.

According to MoneySuperMarket, the prospect of being asked to lend money to a loved one leaves many of us feeling decidedly Scrooge-like.

The price comparison site found 64% of Brits surveyed would lend £50 to a friend in the run-up to Christmas – and not surprisingly, a lot of them wouldn’t be happy about it.

Of those who said they would refuse, 49% said they couldn’t afford it, 45% said they don’t lend money to friends anyway, and 12% said they might reconsider if the sum involved was smaller.

Among those who would lend, 22% admitted it would put their own Christmas budget under pressure, 12% would want to be repaid as soon as possible, and 13% would be annoyed at even being asked at this time of year.

MoneySuperMarket’s editor in chief, Dan Plant, said: “It comes as no surprise that a number of people are not in the position to be able to lend £50 to a friend this festive season.

“Christmas is always an expensive time of year, especially at a time when cost of living is high and wages aren’t rising at the same rate, so every penny counts.

“Anyone who is worried about their bank balance should go through everything they intend to spend money on, and consider whether each purchase is worth it – even if that means reining in on the lavishness of presents or extra trimmings for the turkey.

“It’s worth it if it helps your finances into 2015.”

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