7 Steps to Responsible Borrowing (Step 5)by Unknown
STEP 5 – Juggling debt is a definite no. You may have overestimated your ability to pay back a loan and may find it difficult to keep up with repayments. Don’t borrow money to pay off and existing loan – it will only lead to more financial institutions calling you for payment. Cut your expenses instead or you could be a few steps away from falling into a debt trap. Meet with your banker, financial advisor or visit a financial counseling center and discuss your situation.