Borrowing: How to Finance Wisely
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:
Provides a three-section overview of credit, explaining its importance and high-level guidance.
An overview about managing debt when borrowing money.
A set of resources covering several topics related to borrowing, including helpful guidance about the types of borrowing and information related to rights around managing credit.
Debt Management Strategies and Tools
This activity can be used by a group or an individual working independently to better organize existing secured and unsecured 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.