Financial Answer Center
Introduction
- People Aren't Saving Enough
- Racking Up Debt
- What You Will Learn in this Section
- Should I Borrow Money?
- Total Cost of Borrowing
- Think Before You Borrow–Key Considerations
- Where Should I Borrow?
What You Will Learn in this Section
Take some time to review this section. When you've done so, you will:
- have a clear understanding of your financial situation;
- have a good grasp of your spending patterns;
- be able to identify your strengths and weaknesses in dealing with money;
- have learned some helpful hints about saving money;
- know what your goals are;
- have learned how to reach those goals by making some simple changes;
- know the legal alternatives available to you;
- have learned about the different ways you can borrow money to pay off your debt;
- know when you should—and when you should not—refinance your mortgage;
- be able to make informed decisions about getting a home equity loan;
- know what your options are when you need a loan to buy a car;
- understand why, in most cases, loans from qualified retirement plans are not recommended; and
- have a strategy in place for borrowing money, for whatever reason, that makes sense for you.
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