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Answer Quiz

What should you know before borrowing?

What should you know before borrowing or getting a loan?

There are times when we need a loan – to finance a car or house, or to get by when times are tough. It is important to be cautious as borrowing comes with interest, and can become a bad habit when you’re dependent on it.

In this video, we teach you what to ask yourself before taking a loan or credit card, what the benefits and drawbacks of borrowing are, who you should borrow from, and why you should never borrow money from a loan shark or unlicensed money lender.

Sometimes, loans are necessary but learn how to borrow prudently



Lesson Quiz

What are the sensible questions to ask yourself when intending to take up a loan or apply for a credit card?

What does a licensed financial institution not look at when considering borrowing you money?