Borrowing
How to Finance Wisely
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If the idea of taking on debt makes you nervous, you’re not alone. Financing a large expense, like an education or a home purchase, can be an overwhelming and daunting experience.
While access to debt can help you better manage expenses, taking on too much debt can quickly lead to financial instability. By evaluating multiple borrowing options, assessing risk, and taking a deep look at your long-term finances, you can work toward ensuring any debt you assume is done so wisely.
Debt can be complicated, but the resources below will help you gain a better understanding of the risks and benefits of financing your expenses through borrowing:
Resources
Provides a three-section overview of credit, explaining its importance and high-level guidance.
This link provides strategies and resources to get out of debt.
This activity can be used by a group or an individual working independently to better organize existing secure and unsured debt.
The Power Pay system helps users to plan in order to pay back borrowed money. The activity can be presented in a group setting or applied by an individual.
This resource helps you understand the importance of prioritizing the payment of high interest debt.