Borrowing

There are many different ways of borrowing money. Loans, overdrafts, flashing the plastic, buying on credit / hire purchase are all ways of borrowing. Whichever way you choose to borrow it’s important to understand that it has to be paid back. You must make sure that you can afford to make the repayments on the amount you borrow.

Points to Ponder

The Cost of Borrowing

Types of Borrowing at a Glance

APR (Annual Percentage Rate of Charge)

Advice on Credit Cards and Store Cards

Loan Sharks

Hire Purchase and Rent to Buy

You can download an easy-to-read booklet about borrowing money on the Moneymadeclear website.

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