There are many ways to borrow money to fund our purchases or activities. When we don't have enough cash for something, we may be tempted to borrow.

Borrowing has the benefit of allowing us to have or do something NOW that we would not be able to do$.$ However, the downside is that it can take a long time to pay back those loans.

Consider the different types of purchases that you may want to borrow money for. What could you do instead of taking a loan?

Look into at least three local resources $($banks$,$ credit unions, etc.$)$ and find the current rate for borrowing money.

List some of the financial institutions you found and their rates for a car loan, a personal loan, an education loan, and a debt consolidation loan.

Be sure to include links to each so I can check your work. What kind of APRs are offered?

Do you think, after reading this chapter, you are a bit wiser about the types of financing you have available to you? How?