Managing your Borrowing

Managing your Borrowing

You need to understand and manage debt effectively. This means comparing borrowing options and considering the interest rate and the term/length of loan.


See for yourself how much the total amount of interest you will be charged is affected by changes in the interest rate and repayment term/length of your loan.

When deciding whether or not to approve borrowing, lenders assess whether you’ll be able to repay what you borrow. To help them make decisions, they will use your credit score or credit rating. This is based on personal information about each individual, including age, income, outstanding debt and whether a person is registered to vote or not.

Credit Karma
Stewart Ivory Financial Education Trust is a charity providing financial education to senior school pupils and as such does not endorse or recommend any products, processes or services that may appear on this page/site.