Don't Borrow Money from Friends

Before you borrow money from a family member or friend, you should ask yourself some questions first.
1. Are you borrowing money for something essential? Rims, a stereo, a car, phone, etc. are not essential. Food is essential. Rent is not essential, because you should be paying that already. Bail is not essential. What are you doing that lands yourself in jail? Stay there.
2. Why are you asking this person for money? Why aren't you getting a payday loan?
3. Are you going to be able to pay this person back? Have you done a budget? Why are you spending more money than you make? http://cgi.money.cnn.com/tools/budget101/budget_101.jsp
4. Why can't you get a second job to make the money you need?
5. Why do you need the money NOW? Why can't you wait?
6. Why are you in finacial trouble? What went wrong? It is ok to have an emergency come up, but that is a one time thing. If you have to ask someone to borrow money to pay your bills, then you need to stop making the bills.
7. If you don't pay the money back, are you willing to lose the friendship or relationship with the person you are borrowing from?
8. You need to sign a promissory note. You should pay them interest and be grateful to them.

Common sense says pay your own bills. But if you have to borrow money, you pay that money back before you waste your money on other things.