Great, but get it sorted properly. Work out how to borrow so that it costs you as little as possible.

The Consumers' Institute web site provides really good information about different ways to borrow and how much they cost. Check it out to work out the best way to borrow money. Make sure you also read the about your rights as a borrower.

Once you've decided which is the best option for your purposes and your pocket, you need to work out how much you can afford to borrow, and how quickly you can pay it back. You can also use this calculator to compare the extra interest you pay on a loan over a period at, say 12%, compared against 8%. Look at the extra interest you would pay if you take a longer time - say 5 instead of 1 year - to pay it back.

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