A recent informal survey in New York City explored how residents approach asking friends to repay small debts. The survey asked participants about the smallest amounts they would request back from friends after covering expenses such as meals or transportation. Responses varied, with some individuals willing to chase amounts as low as $5 (£3.70), while others felt uncomfortable asking for anything under $20 (£15).
Henry Payne, a 21-year-old New Yorker, stated he would request $8.50 but prefers not to ask more than once, saying, "two requests is insane." He acknowledged that he sometimes forgets to repay others as well.
Kaz Jahanbini, 19, expressed frustration at having to ask friends for repayment, stating, "If someone bought me something, I'm immediately paying them back." His friend Nouria, also a student, shared that she typically only requests repayment for amounts over $10.
A study indicated that 76% of Gen Z individuals who have fronted money for group expenses reported not being fully repaid, with 55% noting that it negatively impacted their relationships.
Betsie Brooke-Taylor, a British student, mentioned that she would ask for a fiver back, highlighting a cultural difference between the UK and the US regarding money. She noted that technology, such as payment apps like Venmo, facilitates repayment in the US, where over 95 million people have accounts.
Annika Violet, 19, stated that her willingness to ask for repayment depends on whether she frequently pays for her friends. She expressed confidence in discussing money, saying, "If you're my friend, you would pay me back." In contrast, her friend Hanako Stepper admitted to feeling awkward about asking for money.
Money expert Laura Pomfret commented on the embarrassment many feel when requesting repayment, particularly in British culture, where individuals may fear being perceived as "cheapskates." She advised that no amount is too small to ask for if repayment is desired and suggested that individuals consider their friends' repayment habits before covering expenses in the future.
Ella Feuille, 21, indicated that she would consider requesting repayment for amounts around $15, and noted that she has friends who consistently do not repay her. Her friend Katrina Dimingot preferred a system where they take turns paying for each other rather than keeping track of debts.