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How does the percent of people who would borrow from some financial institution compare to the percent of people who would borrow from friends or family?

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sakshigupta4990

9 percent of people would borrow from some financial institution to 23 percent borrowed from friends or family.

41% of Americans have lent money to a friend or family member. About 2 in 5 Americans have lent money to their loved ones in the last year. On average, lenders offered her $1,497, with 62% already repaid. Of those who lent money, 38% lent it to friends and 31% to siblings.

12% of adults were financial institutions unable to pay their costs under any circumstances. It's annoying to have so many extras for such a small expense, but even if you have $400 to spare, you choose to take out a loan to use cash as a cushion for other expenses. There may also be people.

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