The Bank of Friends & Family

By Diana Howard

The "Bank of Friends & Family" is a term used to describe the practice providing informal financial assistance to loved ones. Essentially, friends or family act as a lending institution and provide financial support when traditional lending options like banks are not feasible or available. This practice has become increasingly common in recent years as the cost of living, education, and housing continues to rise, and younger generations face financial challenges.

CouponBirds carried out a study to find out how big the Bank of Friends & Family is across the country.

The Bank of Friends & Family

Use the map below to see how much money people in each state have loaned their friends and family within the past year.

Survey of 3,000 respondents.

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