10. Borrowing money
This episode explores what to look out for if youβre planning to borrow money, looking in depth at payday loans. Bea talks to 2 people who had negative experiences with them.
From a loan to start a business, or money to fix a car which is vital to your life, when itβs done properly and safely borrowing money can be extremely helpful. However, there are times when borrowing money can cause more problems than it solves.
Bea listens to the experiences of Jen and Elysia, who both borrowed money using payday loan lenders and experienced negative consequences because of it. We also hear briefly from Sue Anderson, from the debt charity Stepchange, about whether borrowing money is good.
For help, details of organisations offering information and support with issues discussed, are available at bbc.co.uk/actionline.
Debt charity links:
β https://www.stepchange.org
β https://www.nationaldebtline.org
β https://www.citizensadvice.org.uk
β http://www.debtadvicefoundation.org
You can join the conversation with the hashtag #Money101Pod. Kalpana is on Twitter @KalpanaFitz, Jen is @Jefflebum and Iβm @beaduncan_.
The host is Bea Duncan. The producer is Renay Richardson. The assistant producers are Bea Duncan and Rez Marino. This is a Broccoli Production for ΒιΆΉΤΌΕΔ Sounds.
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Money 101
Join Bea Duncan as she sets out on a mission to learn about money.
