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Fluent · Worksheet
Borrowing safely: the worksheet.
Print one for each person. Nobody has to share what they write.
Moraph for Good · Fluent
Borrowing safely
Worksheet · moraph.org/commons/sessions/fluent/borrowing-safely
Use made-up numbers only. Nobody has to share their answers, and the sheet is yours to keep.
1 Compare three offers
Fill in one column for each offer the facilitator reads out. Cost of borrowing = total paid back minus what you actually received.
| Question | Offer A | Offer B | Offer C |
|---|---|---|---|
2 Before you sign
Tick each one you would ask or check before taking any loan.
- What is the yearly rate including fees?
- What is the total I will pay back?
- What fees are there, and when do they apply?
- What happens if I pay late or miss a payment?
- Can I pay early, and does it cost anything?
- Is the lender licensed or authorized where I live?
- Have I asked about cheaper options first?
3 My next step
One thing you will check, ask or do before you next borrow.
General information, not advice about your own situation. Free to copy and adapt. moraph.org/commons