Bernard O'Shea: Five reasons why borrowing things is a great — and terrible — idea

We've all been there—standing in our shed, staring at a middle aisle drill we haven't touched in years, wondering why we bought it in the first place. Or, conversely, desperately needing something and thinking, I could just borrow it from someone else.

Bernard O'Shea, comedian.

1. It Saves You Money — But At What Cost?

Why buy a ladder when you’ll use it twice a year? Borrowing is the frugal genius’s dream: Until you realise that asking to borrow a ladder for the fourth time makes you a freeloader. Financially, it makes sense. Behavioural economists suggest that borrowing allows us to allocate money towards more urgent expenses, rather than tie it up in seldom-used items. But beware. If you borrow too often, you become that guy: The one people avoid because they know you’re about to say, ‘Would you have a…?’ before they can even say ‘hello’.