This was a difficult one for me over time, because I had so many people use it in my presence while I grew up. My mother used to say it regularly, especially if I wanted an advance on my allowance. She didn't have any idea where it came from though; she always assumed it was "just one of those things" passed down from generation to generation. I had also heard that the phrase came from somewhere in the bible, but re-reading that was just too much to ask (once was enough, given that it took me 8 months to do the first time!). Ultimately, it was my need to reference my complete volume of Shakespeare that led me to the result:
"Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry."
William Shakespeare, Hamlet
Quod erat demonstrandum.
BTW: I won't tell you the exact location; I believe the works of Shakespeare to be pure gold, and well worth reading. Find it yourself, and enjoy the effort.
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