Is it ok to borrow money from your boyfriend?
@faylinn_chaeli (1619)
Philippines
January 31, 2007 7:38pm CST
Recently we opened a joint account with our own money in it. I told him 3 days ago that I want to have a small business, and then he said ok, I will lend you some money. And I said ok, thank you. I mean, for some, isn't it embarrassing to borrow money from your boyfriend? Is it wrong to share money even if you are not yet married?
2 people like this
11 responses
@Only1Andrea (796)
• United States
1 Feb 07
I dont think it is wrong, but i think that it should be something that should be watched and maybe not done all the time depending on the individuals. Borrowing is giving and taking and once you open up yourself to someone lending you money it is a good possiblity that they will be asking to borrow money from you as well and if you are ok with that then that is fine. Money is a funny topic in relationships and is one of the top reasons for divorces in marriage, not one borrowing from the other so much, but mis-management, the lack of money, etc. I just think that it is a slippery slope and to advise you not to let it get between the two of you.
Best of luck
1 person likes this
@faylinn_chaeli (1619)
• Philippines
1 Feb 07
I hope so, thank you for the advice because I don't want him to think that I am depending on him though.
@ghrazhieh (73)
• Philippines
2 Feb 07
What is the porpuse of having a relationship? It should be give and take relationship... Both of you should be sensitive enough of your needs. If your boyfriend wants to borrow money from you then let it be. Time may come that you also will in need of money, then of course your boyfriend will let you also borrow. If one has a problem, then you should extend an open arms with him/her. And for me, It is not embarrasing to borrow money from your girlfriend/boyfriend.
@sunshinecup (7871)
•
1 Feb 07
No, not embarrassing, if he has it and you need it, why not ask?
Legally, it is not wise though without a contract. Given this maybe a large amount, I would have a written contract drawn out. Relationships come and go, when there is money involved it could become a bit messy if there is not a contract. Even if it would be my boyfriend whom the money came from, I would treat it no different from a bank and have all details of our agreement in writing and signed by both parties. I would also make sure I kept a copy of that.
1 person likes this
@sunny5u (2069)
• India
6 Feb 07
It's no problem,we can borrow money from boyfriends.It's good only,I think you don't need because you will get money from mylot.LOL.There is no wrong to share money.
@jhrcsr (348)
• United States
6 Feb 07
It's not wrong to borrow money from your significant other, however please remember that you must pay it back and get a reciept if you are doing this for the purpose of business. If not, he can claim an interest in your business in the future and it could lead to other problems. It's best to keep the business money in a totally seperate account and do nothing but run the business with that money. You'd have to consult a tax adviser for the exact reasoning behind it, cause I can't explain it very well, but I can tell you that our accountant insisted on a seperate account for our business and that my husband has never input a dime into that business because it is mine...for tax purposes and to remain a sole proprietorship, it has to be only one person. You can contact the small business association if you need more assistance setting up your business at www.sba.gov
Good luck!!
@highflyingxangel (9225)
• United States
4 Feb 07
I dont think it's a big problem. My gf and I share money a lot without being married, heck we're not evening officially living together. We make up for it however by treating the other to dinner or something if we borrow money. I think it's an ok practice.
@annepretty (584)
• Philippines
1 Feb 07
I think a lot people in a relationship open joint accounts even before getting married,its not wrong to borrow money from your boyfriend as long as you give it back again so that there wont be any issues concerning money.
@pure_pinklaydee (827)
•
4 Feb 07
To be honest I don't think its a great idea until your married. I mean apart from the akwardness and embarassment there are other reasons. Without being married you don't have stability and security- what would happen if you split up? The other person wouldn't have legal rights over the money the lent. I also think it can cause resentment I can be an undercurrent in arguements. Its best avoided.
@skylord (33)
• Sri Lanka
4 Feb 07
Well I would say its wrong to borrow. But Its right to ask him if he can help. Cos he is your boyfriend. So why borrowing. If he really loves you he would not ask it from you back no doest he wants you to have second toughts of asking him. Loves never has limits