It often starts small. A friend is short on cash and asks you to cover their dinner. Then, they need a bit of help with a bill before payday. Before you know it, you have become the unofficial “bank” for your entire friend group. You are the one everyone turns to when they are in a financial bind. While your intentions are good, this role is fraught with hidden dangers.
Being the go-to lender for your friends can strain your finances, damage your relationships, and create a toxic dynamic of dependency. It’s a slippery slope that can be hard to escape once you start. Here’s what really happens when you become the bank for all your friends.
