Don’t borrow for retirement savings
Don’t borrow to contribute to a tax-deferred retirement savings plan unless you’re in the top tax bracket and need the deduction this year. For everyone else, using what you would have spent in loan repayments as monthly contributions not only saves you money in loan interest, it gets you in the very good habit of making your savings a monthly affair. Borrow instead and you’ll find that next year you still won’t have saved up what you need because you were too busy paying off the last loan, so you’ll have to borrow again.