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Irish People Lose Out On Crazy Money Every Year By Lending To Friends And Family

By AmyBell

August 29, 2017 at 8:46am


Us Irish are renowned for being generous and giving a hand to a friend or family when needs be.

You know, you throw your best friend €10 because she's broke and you want her to come out for drinks. 

Sure isn't it nice to be generous? But then you take a look at your bank account. Oops.

Well, a new survey has revealed that us Irish lose out on quite a bit of money each year thanks to those little loans and many of us are afraid to ask for it back.

According to The Irish Examiner, money transfer app Circle carried out a countrywide survey and found that we lose up to €260 a year lending money to our family and friends.

It seems that the problem is that Irish people are usually "too uncomfortable" to ask for the money back and it becomes awkward so we just leave it be. Sounds about right.

The survey found that while 49% of people say that they never borrow from friends and family, the average person has lost an average of €108 to family and friends in the past six months.

Interestingly, the research found that it is only when you are owed over €50 that you are more than likely to start asking for the money back.

If the amount is less than €20, 51% of Irish people say they feel too guilty to ask.

Circle also asked participants which public figure they were least likely to lend money to and the answer was... Bono. 


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