Most people would still lend £50 to a mate despite the economy

A survey into people's finances at Christmas by MoneySupermarket.com suggests that three in five of us are able and willing to lend £50 to a mate this Christmas if they need it.

However, a quarter wouldn't or couldn't lend that amount to a mate in need this Christmas and 13% said they couldn't afford to.

Lending money to friends and family is a tricky subject as debt can sour a relationship. Debts to the gas board and bank are a priority (because your gas could be cut off if you don't pay) whereas a debt to a friend may get overlooked.

In fact 13% of those surveyed said they had a personal rule of never lending money to friends - perhaps because it could affect their own finances. Someone with problem debts of their own isn't really in a position to lend money to a friend or anyone else.

However, 73% said they would help a friend out with £50, even if it had a negative effect on their own finances, although 6% would ask for it back as soon as possible and 2% would begrudge lending money to their mate in the current economic climate.

A spokesperson for Gregory Pennington commented: "While it's nice to help out a mate, this survey indicates that it's only people who can actually afford to lend £50 who are doing so. Naturally, we all like to help our mates out where we can. However, borrowing money from friends and family to get by can indicate a debt problem. Done regularly, it could damage the relationship. Anyone relying on borrowing to make ends meet should speak to a debt expert about other ways to deal with debt."