Borrowing and Debt: Staying in Control

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Borrowing can be useful for spreading the cost of something or dealing with an unexpected expense. But repayments can become harder to manage when circumstances change or several commitments build up.

This course will help you understand how borrowing works, what it can really cost and some of the things to check before taking on credit.

You’ll also explore how to recognise when borrowing or debt may be becoming difficult to manage and the practical steps you can take to regain control.

The course provides general information and guidance. It does not provide personal financial advice or recommend particular financial products.

Estimated completion time: 15–20 minutes

This course will help you:

Learn how interest, APR, charges and repayment periods can affect what you ultimately pay back.

You’ll explore why a smaller monthly payment doesn’t necessarily mean borrowing will cost less overall.

Explore common forms of borrowing, including personal loans, credit cards, overdrafts, Buy Now Pay Later and balance transfers.

You’ll look at how they work and some of the important information to check before agreeing to them

Recognise some of the warning signs that borrowing or debt may be becoming difficult to manage.

This includes relying on credit for everyday costs, juggling several repayments, only making minimum payments or avoiding bills and messages.

Explore practical steps you can take if you’re worried about money, from getting a clear picture of what you owe to contacting providers early.

You’ll also learn when it may be helpful to speak to a free debt adviser and why getting appropriate support early can make a difference.

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