Credit & Debt

You don't get one without the other.

Women are almost twice as likely to use a credit card to buy clothes as men (sad, but true).
Next time you get the urge, hold off for three days - it’s amazing how often you go off the idea, but if your heart is still set on something, most shops will hold items, so never be afraid to ask.
Clever shoppers are online searching for the best price and window shopping in comfort.

Loans, Overdrafts and Credit Cards can help you spread out your costs over time, but can work out to be very expensive so do your homework before you borrow.

How much can you afford to repay, (remember the interest), for how long and what happens if your situation changes? Compare with how long it would take to work and save instead. Think about it!

BE WARNED: If you struggle to repay loans or miss payments, your credit rating will be affected. This may not sound too awful right now, but it will bite you in the ass when you're looking to borrow for that J1 next summer, trip round the world when you graduate or a mortgage.
All your credit history information (borrowing & repayments with all banks) is documented in a credit record. The Irish Credit Bureau (ICB) holds this for 5 years after a loan is closed. Lenders use this to decide if you can/are likely to repay it before they give you a loan.

Keep all this in mind if you intend to borrow and carefully consider the implications.

Debt. Ultimately any form of credit puts you in debt. If you can't keep up repayments, then debt becomes a problem.

If you're in debt or just want advice on budgeting, use the free, confidential service at MABS (Money Advice and Budgeting Service). They help and guide you through financial decisions. The MABS walk in centres are located all over Dublin city.

If you have any questions drop into your local Students Union office and see what we can do for you.