Irish people are losing out on €260 every year by lending money to friends and family.
New research from 'Circle' show a fifth of us give cash to family and friends every month, but never get it back.
The mobile app creators also found Bono was the celebrity we'd least likely lend cash to.
According to the figures:
- We have lost an average of €108 to family and friends in the last 6 months
- People need to be owed more than €50 before they start asking for the money back
- 49% of people say they never borrow from friends and family and 39% say they never lend it.
- If the amount borrowed is less than €20 then 51% of lenders feel too guilty to ask for the money back.
Kim Buckley has this report:
Here are some funny money lending stories from Early Breakfast with Paula MacSweeney
Kind of reminds us of this classic scene!
