Do you really need to borrow money?

•    Do you really want it or need it? If you’re an impulse buyer, cool off for at least two days before buying – you may find you’re not so keen after all.

•    Could you wait until you can afford to pay for it without borrowing?

•    Is there another way to get it, if it’s something you really need? You could look at buying second-hand, or free from a recycling website.

•    If you really need to borrow could you get a better deal on the loan, and can you afford to pay it back?

Remember, when interest rates are low, borrowing money can seem affordable. But that can change, leaving you with bigger debts than you expected.

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