Charles Barkley says Grant Hill’s mother gave him the ‘best advice ever’ at the 1996 Olympics — warned him not to take care of family, friends financially for 2 big reasons. Do you agree?

"Do not start taking care of your family and friends," Janet Hill told him.

“Because, No. 1, they’re never going to stop and it’s going to ruin all your relationships … The second thing is, no matter what you do for them, the first time you tell them ‘no,’ they hate you.”

Despite her warning, Barkley says he had to live through the “tough and painful” experience of losing friends, after he cut them off financially, to see she was right.

You don’t have to be a multimillionaire athlete to experience similar strain on your relationships because of financial arrangements. Here’s how you can set clear boundaries with friends and family.

Money can complicate relationships

Leaning on friends and family for financial security is remarkably common. More than half (57%) of Americans said they borrowed money from friends, according to a 2024 survey by Bread Financial. And, 30% of these borrowers said they never repaid the loan.

Meanwhile, 37% of American homebuyers had relied on the bank of mom and dad (and grandma and grandad) to finance their purchase, according to a recent survey by Compare the Market.

The trouble with these financial arrangements is that they can blur the lines between business and personal. Friendships and family ties are not built on strict scorekeeping, but borrowing or lending certainly is, which is why money can complicate these connections, according to the Society for Personality and Social Psychology.

These complications and gaps in expectations can ultimately break the connection altogether.

One in five respondents to Bread Financial’s survey admitted that they were no longer friends with someone because of money issues.

Setting clear boundaries

Putting guardrails on your finances can help you maintain healthy relationships.