Use a broker for the best direct lender out there. Use a company like PIMCO or Fidelity to do the research for you.

2. Consider the time it will take to find and loan the money.

A lender may have a mortgage that will need to be paid off in the next couple of years, or maybe not until you're 60 years old. Either way, you will need to plan your finances so you can afford that repayment.

3. Know the tax implications of borrowing money.

You should be aware that you will be responsible for a portion of the loan you borrow. That may not sound like a lot of money, but it can add up fast. You should also know that if you end up not making the payments, you could face some tough times.

4. Make sure the rate of interest is right for you.

Many lenders offer low interest rates. However, you could end up paying much more in interest than you are receiving in the form of a monthly payment. Make sure you are getting the best rate possible before you begin your loan application.

5. Know what you can afford to pay. If you are paying cash for your loans, you can always borrow some more money with a credit card. Some lenders will let you pay off the principal of your loans on a credit card instead of in cash. They do charge a "use it or lose it" interest rate, but this can sometimes be reduced to 0% by using a payment schedule. If you're not paying with cash, you should know what you can afford to pay. It's easy to reach an amount that you can afford, but you'll have to make sure you have a budget in place before you can take that leap into a new lifestyle.

6. Know how to pay. There are a few ways to pay your debt. You can pay it in monthly installments or you can pay every two weeks or so. One of the easiest ways to pay your bills and pay off your loans is to use a credit card. Most of the time, you don't even need to go through a credit check to pay your bills. The bottom line is that it's important to know how to pay your bills so that you can make the right choices for your finances.

7. Don't get caught without money. You may have come into debt because you spent all of your disposable income. Even if you think you're saving, you could still be spending too much of your money each month. You may want to look at the fact that your expenses are eating up a huge portion of your income. If you can reduce your expenses by 50%, you'll probably have money to spend on other things you truly want. Your credit score will get better. A low credit score can be a crippling blow to your finances, so don't make the mistake of paying for anything with a credit card.

8. Have a balance on your credit card. Just because you know you're carrying a balance on your account.