I have watched the debates, the posts and the anonymous questions being sent in to me and it saddens me when I know mums are feeling stressed and feeling guilty because they are struggling to allow their finances to stretch for that much wanted gift on their child’s Christmas List.
Is taking out credit to cover the cost of Xmas a good idea with door step lenders?
Is shopping from online catalogues a safer option?
Should we make use of the stores that offer buy now pay later options?
My fear is that many of these options may sound ideal for desperate mothers, yet they forget to actually look at the small print. How much more will you paying? Have you looked at the huge APR?
29.9% APR is added to a well-known high street lending store, these also send big mean men to your day if you as much as miss a payment, and these bullies are to be avoided at all costs. I have had far too many mothers writing to me in fear of the bailiffs of this lending store.
While having someone come to your door each week to collect a payment may sound easy, your lending £200 yet paying double that amount back? Crazy
I have looked online and after researching online catalogues I have chosen Littlewoods as one I would recommend. I remember my on mum having a Littlewoods credit account so it’s been around many years.
I did have a Littlewoods account personally a few years ago and when I left my job due to health problems, they were fantastic and allowed me to reduce my monthly payments to ensure I did not receive any extra charges for not being able to pay.
I do not have a catalogue these days, I am bipolar and trust me during mania that would never be a great thing to have available.
It all comes down to responsible lending and only buying what you can comfortably afford to back which is where I think catalogues like Littlewoods beat any other buy now pay later options.
Littlewoods Promise; whether you’re buying clothes for the kids or updating your dishwasher, you can make it all manageable by spreading the cost. Everything you buy is available interest free – giving you more flexibility when it comes to your budget.
• Pay over 20 weeks for anything
• Pay over 52 weeks when you spend £100 or more
• Take up to 4 years interest free on selected sofas
This is what you should be looking for – Everything you buy is available interest free
I have just for fun listed 3 Xmas Gifts in case you have yet to buy my gift. See how thoughtful I am.
What do you think of lending money at Xmas, is it the only option some mothers have?
Would you agree with my own views?
(Can you name the bully store I am referring too?)