In today’s economy, instead of looking to banks, more people are seeking alternatives like peer-to-peer loans, crowd-funding or family and friends when they need to borrow money. If you’re not a one-percenter — and 99% of you aren’t — you will probably need to borrow money at some point in your life. According to MarketWatch most Americans are only one paycheck away from the street. Yikes! They add that, “Faced with an emergency, they say they would raise the money by reducing spending elsewhere (26%), borrowing from family and/or friends (16%) or using credit cards (12%).”
