If you live on a fixed income, it makes no sense to get a variable rate loan. Instead, go for fixed rates. However, if your job allows you to increase your income within certain periods, you should look for e-loan that let you pay back early. That way, if you double your average income on a certain month, you may pay double that month, making the overall payback time smaller.

Avoid One-of-a-kind products - Unless you're working with a large amount of wonga and can afford to have a hard-to-resell product, resist the temptation to invest in truly unique products. While this kind of product can be very enticing, keep in mind that it's going to appeal to a much smaller market. So if you find yourself in the future needing to sell the product it could be very difficult to find a buyer. You want to invest in the kind of "flexible" product that will appeal to the average purchaser.