Money Saving Tip No 78 : Borrowing Money

Unless you have an emergency, avoid those enticing advertisements to lend you money at incredible rates. Banks and lending institutions make it much too easy to borrow money and especially during the holidays, they flash all their

great advertisements drawing people in.

Afterwards, you have borrowed money that you could have done without and now you are locked into a five-year repayment contract. If you want a new car or boat, it is better to save. If you do need a new car, avoid brand new cars, which lose massive amounts of appreciation the minute you drive off the lot. Instead, look for something a year or two old where you will still have a nice car but much more in line with an appropriate cost.

Money Saving Tip No 78 : Borrowing Money

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