Borrowing

It's good to be able to borrow money. It can help you acquire assets - like a house, a business or an education. But debt can also be a trap.

Loans are very convenient. But they can also be expensive. While you're studying try to avoid high interest debt such as credit cards and some hire purchase deals.

You've probably got a rough idea of the sort of home you'd like, and how much you'll have to borrow to buy it. But will a lender actually lend you this amount?

This one isn't brain surgery - the longer you have debt, the more interest you pay. It pays to get out of debt as fast as you can.

So you've decided you need to borrow to get what you want?

Great, but get it sorted properly. Work out how to borrow so that it costs you as little as possible.

Going into debt is a big decision. When you have debt, your life options start to become far more limited.