But breaking these rules for borrowing can leave you hemorrhaging money, and that doesn’t ever look good.
Rules to live by
Follow these guidelines to keep more of your money where it belongs — in your wallet.
10 borrowing do’s and don’ts
- Do save money while repaying debt
- Do find the best interest rate
- Do read the fine print
- Do pay on time — every time
- Do remember that borrowed money is not free
- Don’t borrow frivolously
- Don’t fall victim to bad loan products
- Don’t borrow money without telling your spouse
- Don’t carry credit card balances
- Don’t borrow more than you can afford