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Money Smart: Borrowing Basics (Module 7)

1 minute read

The FDIC Money Smart curriculum consists of 14 modules of financial education content. By completing these modules, you'll come away with practical knowledge, new skills, and resources you can use to manage your finances with confidence! See the full list of modules here.


Click below to start this module (will automatically download the PDF guide to your local file system) 

Begin Module 7: Borrowing Basics

The focus of Module 7 is options for borrowing money and what it costs. It consists of three sections:

  • Section 1: Ways to Borrow Money and What It Costs
    • What Borrowing Means
    • Types of Loans
    • Secured and Unsecured Loans
    • The Cost of Borrowing
    • Truth in Lending/Comparing Offers
  • Section 2: Preparing to Apply for a Loan
    • Factors Lenders May Use in Their Decisions
    • Co-Borrowing andCosigning
  • Section 3: Borrowing When Someone Helps You Manage Your Money
    • Responsibilities of the Person Helping You
    • What to Discuss
    • If You Decide to Borrow Money


Finished Module 7? Click here to access Module 8, which is about different kinds of debt and ways to manage it.

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