What is borrowing?
Borrowing is when you access money now and pay it back later, often with interest. It’s useful for big purchases, like education or home improvements, but should be approached carefully. Borrow only what you can comfortably repay, and always understand the terms and conditions. Whether it’s a loan, credit card, overdraft or mortgage, borrowing can help you reach your goals when managed well.
When used wisely, borrowing responsibly can support your financial journey without compromising future stability.
What is debt?
Debt is the money that you owe, on loans, credit cards, or other borrowing. “Healthy debt,” like a mortgage or student loan, supports long-term goals. “Bad debt” is like making minimum payments on a high-interest credit card.
Managing debt means knowing what you owe, keeping up with paying it back, and avoiding borrowing when you do not need to. Staying on top of your debt makes sure it remains a useful financial tool rather than a burden. Creating a plan to pay off debt while meeting your other financial priorities is key to staying in control and reducing stress.
Are you looking for a loan?
Whether you’re planning your dream wedding or holiday, buying a new car, improving your home, or furthering your education, let us help you make your plans a reality with a loan tailored to your needs.
Contact us
