10 Ways To Save Money When Borrowing Money

giving a loan

It’s never a fun situation to be in. You need money to make ends meet and as a result, you’re going to have to borrow some. When a situation like this arises, people usually focus on how to get the money they need while often ignoring the cost of getting that money. If you need to borrow some money. it’ll almost always entail paying some type of fee or cost for the borrowed money, but that doesn’t mean that saving money while borrowing isn’t possible. When you find yourself in a situation that you need to borrow money, keep in mind these ten ways that you can save money when you do borrow:

Don’t Carry Balances

One rule of thumb for credit card users is to

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2 Responses to 10 Ways To Save Money When Borrowing Money

  1. alirobertson says:

    Don’t over spend, and when you do, spend wisely. Most of all, don’s spend beyond your means.

  2. Nick Curcio says:

    I actually just blogged about a similar topic; namely, affordability in the housing market. Dave Ramsey tells homeowners that their monthly mortgage payment should never exceed 25% of their monthly income. Not only does this protect them from unforeseen emergencies, but it also gives them enough room in their budget to save money on a monthly basis. Mom used to tell me, “A penny saved is a penny earned.” Pretty good advice from a wonderful woman.

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