Borrowing money, This is known as credit, Overdraft, This is borrowing money through your current account, APR, Annual percentage rise- interest added per month, Loan Shark, Money lender not authorised by FCA- often illegal activity, Credit union, Non profit organisation which is run and controlled by members, Credit card, A card that allows you to borrow money to pay for goods and services with the promise that you'll repay the costs usually with interest added, Store card, A credit card you can only use with one high street chain or group. Like a credit card, you can use a store card to buy things on credit and pay them off at the end of the month or in stages to spread the cost., Payday loan, Short-term loans for small amounts of money., Bank loan, An amount of money borrowed from the bank for a set period within an agreed repayment schedule., Friends, An informal way to borrow money., Family, An informal way, usually agreed verbally, Building Society, Simmilar to a bank, can borrow money.
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Borrowing Money
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Melstuart
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