How to borrow money in 2020: the best and worst ways

Knowing how to borrow money is an essential life skill. Most of us will need to borrow money at some point in our lives, but the borrowing method you choose can greatly affect how much you end up repaying in total, and how quickly you repay it. If you choose the right option, it can make life much easier, but picking the wrong ones can lead to severe debt and cascading financial worries. We’ve looked at some of the most expensive ways to borrow, as well as some cheaper alternatives, to help you borrow smarter.

As ever, the method of how to borrow money smarter will always depend on your personal circumstances, and the below advice is based on our experience, expertise, and research. If you are ever in doubt, we recommend you consult a financial advisor or a specialist in whatever type of borrowing you’re considering (for example, a mortgage advisor).

Worst ways to borrow

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