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Good habits for using
credit cards and borrowing money
Before you
borrow money, remember:
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try not to buy
just because you have seen a special offer or discount. Ask yourself: do I
really need it? Wait a day and see if you still want it.
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shop around for the best deal. Ask
yourself: can I buy it at a lower price, or get cheaper credit from
another store or lender?
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work out the real cost of credit and check
the interest rate. Ask what is the cash price and how much extra will it
cost to pay over time.
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check your budget so you know what you can
afford to repay. Ask: if interest rates go up, the car needs repairing, or
the kids need new shoes, will I be able to keep up the repayments?
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don't take out a loan for longer than you
need. Ask: how quickly could I pay it off and what is the most I can
afford to pay monthly?
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