Don't ever borrow more money than you need and always make sure you will have the means to pay it back. Shopping around for the best possible interest rates will save you often a large amount of money in the long term. Do your sums, it's really not that difficult, if unsure always ask for the final total cost of your loan, to include insurance protection etc. It's easy for a ?1,000.00 loan to end up costing you over double if you don't check. Always take the time to read ALL of the small print.

Borrow against the equity of your house. Home loan interest rates are often the cheapest source of money, so it makes sense to use the equity to buy essentials like a new car, extension etc. Avoid borrowing if you have funds available else where, but feel you'd rather leave them along for a rainy day (if you need to borrow, then today is that rainy day). You will save interest as the interest you will be receiving on your savings will be far less than what you will be charged for borrowing. Should at a later date a real emergency arise, then you can then borrow or use a credit card.

Sadly unsecured loans will be more expensive, likewise if you have a bad cedit history or earning a low wage. Under these circumstances it's vital to shop around. Not all companies are loan sharks and there are reasonable offers to be found. Dependant on the amount to need to raise and how soon, it's also worth considering selling a few items that you no longer require or could manage without. eBay has to be the quickest and simplest method of obtaining the best price for an item. It's also extremely useful for finding the current value of an item and just what people are willing to pay, with the knowledge you could then decide to sell via your local newspaper.

It's usually cheaper to borrow from a bank than a credit company, but still shop around. It's not necessary to hold an account with a bank to be able to borrow from them. If you are looking to re mortgage, then it's worth employing a mortgage broker. There will usually be a small charge, but they will have access to all the different offers available. Just a point here it's essential you check that the broker is an independent, and does not receive a commission or fee from money lenders, which in turn could cloud his judgment on who he advises you borrow with.

A simple Golden Rule - 'Delay any decision for 24hrs' take your time and do some homework.