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9 Things You Should Never Borrow Money For

5. Home Electronics and Furniture.

9 Things You Should Never Borrow Money For

One of the easiest things to get credit to buy is furniture or electronics for your home. Unfortunately, there are many stores that offer financing for everything from couches, to HDTV’s, to washers and dryers.

Although the pleasure of immediate gratification can make these purchases tempting, in the long run, most of these purchases will result in a tighter financial position. The only purchase that may be worthwhile would be for a washer and dryer — eliminating the need to spend money at a Laundromat.

In most cases the interest rates for the loans are through the roof. So do yourself a favor and save up for this purchase.

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