The laid-back nature of Australians is costing them money, with the majority too embarrassed to call in debts from family and friends.

Research commissioned by fintech firm Beem It show that 87 per cent will not ask for debt to be paid back if it's $5, while 70 per cent will not call in a $10 debt from family and friends.

"Aussies are willing to let debts between friends slide, even when they’re in the red, to avoid the awkward conversation asking for the money back," said Beem It chief executive Angela Clark.

"Either the amount is too small to worry about or they don’t want to seem money-hungry, so they are too embarrassed to chase."

When the amount is larger, Australians are less reticent about asking for it to be paid back. Still, 8 percent of those surveyed would still let a $100 debt pass by.

Clark said that personal debts between friends can add up to be large enough to make a difference in the generous person's finances.

"The financial advantage from collecting debts – big or small – can be significant, yet it’s a social skill most people struggle with."

The survey of more than 1000 people also showed 77 per cent had loaned money to family members, with a staggering $132 billion estimated to be still owed by people like siblings, children and parents.

Male relatives were likely to owe more than double compared to female ones.

About half the research sample (49 per cent) also lent out money to non-family associates like friends, housemates and colleagues, with 15 per cent still unpaid. Yahoo Finance reported in January that this added up to an estimated $6.2 billion.

Beem It – a joint venture between National Australia Bank, Westpac and Commonwealth Bank – had good motive to commission the survey, as it has created a mobile app that allows instant money transfer between individuals (regardless of their bank).

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