We have been talking about taking out loans to pay for your education, most people takeout a mortgage to buy a home, is there anything else that it is worth considering borrowing a large sum of money for? Probably an automobile if you need it for your job that’s that the only other thingthat I can think of that you need to borrow for. Your home, your education, everything How to Decorate a Room So It Seems Bigger else I think you can pay as you go. I know that when people first buy their first homes,people are tempted always to go out and get the furniture on loan to furnish their housebeautifully using a loan, I say no.
So I think for young adults, it’s just a matter of knowing not to borrow, but think of it in a different way, try to make the money you have go asfar as you can. And know what’s going to make you happy. It’s all back to affordability and the danger of getting hold of things now because youwant them now is that you are putting off an inevitable burden in the future. And if you take things like furniture in your first home, even if you’re renting a flat, for example are you independent? want to be your own boss start your own business? well if that is your dream, this n… and you need to furnish it, there are lots of offers available, as we all know at 0%deals for a certain period of time and they look great for a while but when they kickin often at an expensive interest rate then you’ve got to be ready for that and make sureyour budget at that point can deal with those things. Don’t assume you’re actually going to be able to get the 0% deals because they all dependon your credit history and credit score and obviously for a lot of young people they havenot had the chance to build up a credit history.
I think if you can get a 0% credit card, ora 0% finance thing that enables you to buy something you feel that you need I don’t thinkit’s necessarily always a bad thing. The ones I really don’t like are the ones that sayyou don’t have to pay anything for 2 years because you’ve got no idea what your financialsituation is going to be in 2 years’ time.