Borrowing factors to consider and comparing interest rate on loan offering

The video explores borrowing money, assessing financial needs, and comparing loan interest rates. It covers factors affecting loan eligibility, such as income, expenses, credit score, and DTI. Strategies to avoid debt traps include budgeting, minimizing credit card use, and debt consolidation. The video also discusses comparing interest rates, considering fixed vs variable rates, APR, and loan terms. Tips for loan comparison and seeking financial advice are provided.

What new insight or understanding did you gain from this video?

Evaluate responses using AI:

OFF