Credit cards

Credit cards are one of the best methods of borrowing over a short period, but only if you have the resources and the discipline to pay off the balance.

Many cards offer up to eight weeks' interest-free credit, and you have the flexibility of being able to pay back part or all of the debt at any time.

In the past, most cards charged an annual fee to the user. Some still do, but with the invasion of credit card providers from the United States, this is becoming less of a norm.

Even if you pay off your balance in full every month, there are cards which do not have an annual fee. Paying a charge of between £10 and £15 a year is a waste of money when there are currently so many competitive deals around.

Most cards provide an upper spending limit, but if you want to start saving you should avoid making impulse purchases without knowing how you are going to pay off the debt