shopping

April 16, 2024

Guest Post: 7 Top Money-Saving Websites for Freebies

Nick Saving Money reviews, sponsored post, guest post, shopping 0 Comments

Today I have another guest post for you on the subject of saving money and getting freebies 🙂

My friends at Hot Free Stuff have put together this list of seven top money-saving websites where you can get freebies, discount codes, downloadable coupons, and more. Check them out, and don’t forget to sign up for free emails from Hot Free Stuff to get all the latest free offers daily!

Are you a stressed-out mum (or dad) trying to make the family budget work?

It takes juggling to make the household budget balance without the need for taking a calculator on every shopping trip. That is because just a click of your mouse or a swipe of your tablet can reel in huge savings on credit card bills, home goods, fashion, electricity, and fun-filled family activities!

We have done the work of trawling the Internet to find you seven of the best money-saving websites around. We’ll help you get freebies, codes, downloadable coupons and more, so that you can do more with your budget every week. Here is our point-and-click guide to savings…

HotFreeStuff.co.uk
This site gets you access to lots of free samples you can really use, from lotions to perfumes. Save money using this site on lots of household goods and get a chance to try new products for free as soon as they are available.

Gumtree
At this so-called ‘classified community’ you can snap up lots of great deals on pets to property. There are many listings for rentals and jobs throughout the UK and Ireland. You will enjoy the deals, but you can also get free items via the freebies section. Just scroll beyond the ads and sponsor links to find many free listings for household items and furniture. At the time of writing there were listings on the London site for free sofas and mattresses, a working Hotpoint fridge-freezer, and free haircuts. Just a word of caution – we suggest for any classified site that you take someone along with you to collect any items, and be careful about giving away too much personal info when responding to ads.

HotUKDeals
This site has been around for well over a decade and is the most reputable place for people to share information on the freebies and discounts they have picked up on their website travels. It is free to register and features include ‘Top 10 Hottest Offers’, requests for offers, and fun, free competitions to enter.

My Voucher Codes
Get over 2000 discount codes at Britain’s biggest voucher website. Tabs include top listings as well as categories, together with the ability to print out vouchers.

Groupon
Never underestimate the power of Groupon! Many times it can seem like a venue for free or cut-price beauty treatments. There are, however, great deals on family attractions, meals and holiday getaways as well.

Moneysaving Expert (MSE)
This massive site set up by financial journalist Martin Lewis has saved the UK millions. It is clearly written, easy to understand, and has lots of information on getting deals on everything from home and car insurance to broadband and mortgages.

Travel Supermarket
This is the best site to find travel deals and compare flights and hotel offers in one easy-to-navigate resource.

Many thanks to Hot Free Stuff for sharing their advice and information. If you have any comments or questions – or other tips and resources for saving money – please do share them below as usual.

Disclosure: this is a sponsored post.

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April 14, 2024

Guest Post: Six Tips for Getting Free Stuff Without Dealing With Scams

Nick Saving Money sponsored post, guest post, shopping 0 Comments

Today I have a guest post for you on a subject I’m sure will resonate with many Pounds and Sense readers.

We all love a freebie, but how do you ensure that by providing your details you aren’t opening the floodgates to a torrent of spam? Read and follow the tips below from my friends at All Free Stuff. And don’t forget to sign up for their free email newsletter to get details of all the latest free offers daily!

It’s completely possible for you to get free stuff. There are plenty of opportunities out there.

That said, for every legitimately free thing you can get, there are two complete scams set up to get your personal information at the cost of a few free samples. If you want to get free stuff without dealing with scams, try the following steps.

1. Set up a ‘spam catcher’ e-mail. This e-mail account is one you have no plans on using for normal correspondence, but rather the address you give out for giveaways and promotions. You can also use it when you register with a company that wants your e-mail address in exchange for free gifts. If you give the company your primary e-mail address, you’ll be swamped with a mass of promotional e-mails. It won’t take long for you to abandon your e-mail account in despair if this starts to happen.

2. Avoid giving personal information. You should never give out more than your name, e-mail address, physical address, and birthday. And you should be careful about giving away all of those, as well. If you can, try using a fake name or a PO Box. The more personal information you give out, the easier it will be for other companies to get that information. In addition, some websites ask for your credit card number ‘just to ensure you’re a real person’. Once they have your credit card information, you can’t make them forget it.

3. Be realistic about what you expect. If the deal seems too good to be true, it almost certainly is. It’s certainly possible the giveaway is legitimate, and if that’s the case then they should have company contact information readily available. You should also check the internet to see if you can find information. If the offer is that great, then plenty of people will be talking about it. Of course, if it’s a scam you’re liable to find discussion about that, too.

4. Visit only legitimate websites for samples. Manufacturers’ sites are generally trustworthy, whereas some retail-specific sites are not.

5. Write to the manufacturers of products you enjoy using. Companies are always happy to give a few freebies to customers willing to go out of their way to make their voice heard. It builds goodwill and often garners more customers. And all for the cost of a few free samples.

6. Learn to use coupons properly. It can take a huge amount of patience to learn to coupon well. That said, good couponing can save you so much you may even get free groceries. Couponing is a fairly big deal, so you can find plenty of websites that can help you learn. There are also many grocery stores or manufacturer sites that will keep you informed of what great deals and amazing coupons are available.

These are some of the best ways to get free stuff without dealing with scams. Do you have any other tips yourself? Please do leave them below!

Disclosure: This is a sponsored post.

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October 8, 2023

Amazon Prime Big Deals Day is Almost Here!

Nick Saving Money events, shopping 0 Comments

In case you’ve not heard, Amazon Prime Big Deals Day is almost with us. It extends over two days, Tuesday 10th and Wednesday 11th October 2023.

This is a special event for Amazon Prime members only. Amazon say they will be offering members their lowest prices of the year on selected products from leading brands, including Samsung mobile, Sony, Western Digital, Barbie and Xiaomi. They will also be offering big discounts on products from other top brands, including Bose, Shark, Oral-B and Fitbit.

Some of the best deals will be reserved for Amazon’s own products, such as their Kindle e-book readers, Amazon Echo smart speakers and Ring video doorbells and security cameras. Discounts of up to 60% will be on offer for these products. If you’re thinking of buying any of them, Amazon Prime Big Deals Day is definitely the day – or two days – to do it.

There are also some great ‘early deals’ available now. For example, at the time of writing you can buy an Echo Dot smart speaker (5th generation) for just £21.99, a 60% discount on the normal £54.99. You can also get a Ring video doorbell (2nd gen) for just £59.99, a 40% discount on the normal £99.99.

I have been a member of Amazon Prime for almost ten years now. As a regular Amazon shopper, I find it well worth while for the free one-day delivery on millions of items alone. But as a Prime member you get access to a host of other benefits and services as well, including Amazon Prime Music and Amazon Prime Video.

If you’re thinking of joining Amazon Prime, therefore, I highly recommend doing it in the next day or two, so you can benefit from the Prime Big Deals Day offers. Personally I think it’s worth it for the free delivery alone, let alone everything else that’s on offer. But if you wish, you can get a 30-day free trial now, take advantage of the Prime Big Deals Day offers, and then cancel without owing any money. It’s your choice!

You can also see all the latest Prime Big Deals Day deals by clicking here.

Finally, in addition to your Amazon Prime Big Deals Day discounts, don’t forget that if you sign up with JamDoughnut you can also get cashback on Amazon purchases. The rate is currently 1%. Obviously that’s not a fortune in itself, but it’s in addition to all the other discounts on offer. See my blog post about JamDoughnut for more info, including how you can get an extra £2 bonus!

As always, if you have any comments or questions about Amazon Prime or Prime Big Deals Day, please do post them below.

Disclosure: This post includes affiliate links. If you click through and make a purchase, I may receive a commission for introducing you. This will not affect the price you pay or the products or services you receive.

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October 5, 2023

Over 60s Discounts – New Website Helping Older People Save Money

Nick Saving Money reviews, retirement, shopping 0 Comments

A quickie today spotlighting a site that I know will be of interest to many readers of this blog. Coincidentally, it’s run by a near-neighbour of mine in south Staffordshire.

As the name suggests, Over 60s Discounts lists discounts, deals, vouchers and concessions for people in the UK aged 60 and over. Many of these are exclusive to Over 60s Discounts.

Over 60s Discounts operates on a membership basis, but the good news is that it is free to join. Once you are registered, you will be able to browse the latest discount offers on the website and also have them sent to you by email. If you see an offer you like, all you have to do is click ‘Get Code’. You will then be provided with a voucher code to use at checkout on the brand’s website. Printable vouchers and e-vouchers, which you can use in-store, are also provided.

There are some great deals on offer, as you can see from the sample selection below.

If you’re 60 or over, I highly recommend checking out Over 60s Discounts. It’s a new website and obviously still evolving, but already it offers an impressive range of deals, discounts and concessions. If you’re looking to make your money go a little further in the current cost-of-living crisis, it will definitely help you achieve this.

As always, if you have any comments or questions about this post, please do post them below.

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September 29, 2023

Save Money on Your Shopping with JamDoughnut!

Nick Saving Money reviews, food, competitions, shopping 0 Comments

Today I’m reviewing an app called JamDoughnut which can help you save money on your shopping.

What is JamDoughnut?

JamDoughnut is an instant cashback app that allows users to earn cashback when they spend money with over 150 leading supermarkets, restaurants and shops (see sample screenshot below).

Rather than cashback on specific purchases (as with sites like Quidco), you get cashback of up to 20% when you purchase gift cards from retailers on the app. These gift cards can then be used just like money, both online and in-store (in most cases).

How Does It Work?

The first step is to download the JamDoughnut app to your mobile phone from Google Play for Android or the Apple iStore. Open the app and follow the instructions to create an account (don’t forget to enter my referral code GBGN to get a 200 points [£2] bonus – see below). This should only take a couple of minutes.

Then check the list of retailers on the app and find one you shop with regularly. Most of the big supermarkets (with the exception of Waitrose) are included, for example.

You can even get cashback on Amazon gift cards, though admittedly only at a rate of 1% at the time of writing.

Once you have found a suitable retailer, buy a gift card for that retailer using the app. This is straightforward and you can get cards of up to £100 in value.

Once your gift card purchase has gone through, cashback will be credited to your account in the form of points (100 points = £1). In my experience this normally happens instantly. Once you have earned 1000 points, representing £10 cashback, you can withdraw the money to your bank account.

Note that there is a standard 30p transaction fee when making a withdrawal via bank transfer, and more than that if you use Apple Pay or Google Pay (so I don’t recommend doing that). So it may be best to let cashback build up a bit before withdrawing, to reduce the impact of the transaction fee. Alternatively you can withdraw in the form of a gift voucher (e.g. an Amazon voucher). In that case no charges are payable and you also get bonus points added to your account 🙂

In most cases, as mentioned, you can use gift cards either online or in-store. In the latter case, you can show/scan the code on your mobile phone at the checkout, or you can take a printed version with you and use that.

You can use gift cards for full or part payment. If you don’t use the whole amount on the gift card in one go, you can use what remains towards another purchase at a later date.

Other Benefits

Another attraction of JamDoughnut is that you can use the app in addition to your existing cards and loyalty programme points, allowing you to earn and/or save even more.

In addition, JamDoughnut offers a range of other benefits. These include a daily £100 (10 x £10) giveaway, free competitions, ‘Jammy Deals’, double discounts, and more. These are all listed on the ‘Daily Doughnut’ page of the app (see below).

Finally, if you’re so inclined, you can invite friends and relatives to join JamDoughnut using the ‘refer-a-friend’ scheme. If someone signs up using your referral code (see below), not only will they get an extra 200 points (worth £2) when they buy their first gift card, you will receive a bonus as well when they cash out for the first time (400 points, equivalent to £4).

Special Bonus Offer

Speaking of which, if you download the JamDoughnut app via this blog post and enter my referral code GBGN when requested, then (as mentioned above) you will get an extra 200 points (£2) when you use the app to buy a gift card for the first time – bringing.you that much closer to receiving your first £10+ cashback payment!

Closing Thoughts

In summary, I think JamDoughnut is a great little app and I have been pleased to add it to my armoury of money-saving tools and resources.

I do most of my grocery shopping at my local Morrisons, which is currently offering 4% cashback on JD gift card purchases – so in effect I am getting a 4% discount on all my shopping there.

And I am still getting all the benefits of my Morrisons Card too, including special discounts and regular £5 vouchers. In these challenging times, this really does help my money go a little bit further 🙂

As always, if you have any comments or questions about this JamDoughnut review, please do leave them below.

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July 21, 2023

Time to Use or Exchange Your Old Non-Barcoded Postage Stamps!

Nick Everything Else events, shopping 0 Comments

A quickie today to remind you that you have just 10 days left to use or exchange any remaining non-barcoded stamps you may have. The stamps concerned are the plain ones with the late Queen’s head on (all stamps with the new King’s head are barcoded).

Christmas stamps and other ‘special’ stamps with pictures on will continue to be valid for the foreseeable future, but it would still be a good idea to use them up now (or give them to a collector in the family!).

If you can’t use the stamps before the end of July, you can exchange them free of charge using Royal Mail’s Swap Out scheme. You will need to complete a Stamp Swap Out form for stamps worth up to £200, or a Bulk Stamp Swap Out form for stamps worth more than £200. Forms are available from post offices, though note that you cannot exchange the stamps themselves there.

An image from the Royal Mail website showing which stamps can and can’t be swapped is shown below.

The deadline for using plain non-barcoded stamps is 31 July 2023. If you use them after that date, the recipient will have to pay a fee (to be announced) on delivery. That’s assuming they are delivered at all, of course.

As well as post offices, you can print Swap Out forms from the Royal Mail website, or phone their customer services on 03457 740740 to request one. There is currently no deadline for the Swap Out scheme and it will continue after 31 July 2023, though again it may be best to do this sooner rather than later.

For more information on the Swap Out scheme – and barcoded stamps more generally – see Royal Mail’s Barcoded Stamps info page.

As always, if you have any comments or queries about this post (no pun intended!), please do leave them below.

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June 4, 2023

UK Bloggers Father’s Day Giveaway!

Nick Everything Else events, competitions, families, shopping 1 Comment

Summer is here, so it’s time for another exciting giveaway on Pounds and Sense. This one is themed around Father’s Day, which this year is on Sunday June 18th.

I have clubbed together with some of my fellow UK bloggers to provide a bunch of great prizes guaranteed to put a grin on any dad’s face. And the best news is, it’s entirely free to enter! The giveaway is open now and will close at 11.45 pm on Sunday June 18th.

This event has (again) been organized by Rowena Becker, who blogs at My Balancing Act. No small amount of effort has been involved in arranging and co-ordinating it, so many thanks again to Rowena for her hard work and dedication.

Without further ado, then, I’ll hand you over to Rowena to introduce the giveaway…

Father’s Day Giveaway

And we’re back! This time to spoil your dad. We have a number of incredible prizes that will make his day! This is not only a giveaway but a gift guide to help you get ideas and inspiration for gifts for your dad (or other special man in your life) this Father’s Day. And for more ideas and inspirations check out these blog posts, The Ultimate Father’s Day Gift Guide and Frugal Father’s Day.

The Prizes

Treat Him Experience Box from Buyagift

Give your dad a fun and unique gift with the Treat Him Experience Box from Buyagift!

Buyagift has hand-picked the finest selection of Tasty Treat, Driving Blast and Adrenaline Adventure experiences to create the perfect gift for any man. From zorbing to supercar driving, gourmet dining to overnight stays, our lucky winner can treat their dad to a wonderful experience he will never forget!

Hoover Cordless Vacuum Cleaner with ANTI-TWIST™ (Single Battery)

Make your dad’s life easier with this incredible prize! Not only will the Hoover Cordless Vacuum Cleaner with an anti-twist and single battery, make cleaning time quicker and easier, but it’s also a practical and useful present. With a Hoover, your dad can easily keep his home clean and tidy, without much effort. It’s a thoughtful way to make his daily routine easier and hassle-free. Plus, who doesn’t love a clean and fresh home? Our lucky winner can surprise their Dad with a Hoover, and watch him become the happiest dad with the cleanest house around!

Features:

- NEW ANTI-TWIST™ floorhead

- Up to 45 Minutes of Power

- Space-saving design and stands unaided for easy storage

- Converts instantly to a handheld with 2-in-1 dusting/upholstery tool

- Lightweight and easy to use

- Exclusive 3-year warranty with this product. Only available at Hoover Direct website, hooverdirect.co.uk

Opinel Complete Picnic+ Set

The Opinel Picnic+ set is the ideal gift for busy dads who need to eat their meals on the go.

The set comes with:

- A No. 08 knife

- Two inserts (a fork and a spoon) that attach to the No. 08 knife

- A microfibre towel case that is both a storage and cleaning device

The inserts are made of stainless steel, so they are nice and sturdy and hygienic (compatible with wooden handled N°08 knives, equipped with the Virobloc safety ring marketed since 2000). We have one picnic set for our lucky winner!

Silk Route Spice Company Grinders

This gift set is undoubtedly the perfect present for your resident chef or culinary friend, especially if they love French food as much as we do. The grinders contain carefully balanced mixtures of herbs and spices hand-selected by specialist chefs to impart a taste of France to any dish of your choosing, be it your homemade soupe a l’oignon or boeuf bourguignon.

The four mixes are: Herbs de Provence, Mustard & Garlic mix, Fine Herb Seasoning and French Quatre mix. Available from Amazon and donated by Dordogne Vie.

Disclaimer: As an Amazon Associate I earn from qualifying purchases

The Bloggers

In order to bring you this incredible giveaway, some of the UK’s top bloggers got together and contributed. A massive thank you to our bloggers! Those taking part are:

How to Enter

You can enter the Giveaway by completing as many Rafflecopter widget entry options below as you like. All entries will be collected and one winner will be randomly chosen. Good luck!

a Rafflecopter giveaway

Terms and Conditions

UK entries only
The giveaway will run from 11:45am 4th June 2023 to 11.45pm 18th June 2023.
The winner will be notified by email from rowena@mybalancingact.co.uk
The winner will have 7 days to respond after which time we reserve the right to select an alternative winner.
This prize draw is in no way sponsored, endorsed or administered by, or associated with, Facebook, Instagram, Twitter, YouTube, BlogLovin or Pinterest.
Prize open to over-18s only. Age verification may be required to receive some prizes.
If any prizes are out of stock then we will do our best to find a suitable replacement but cannot guarantee it.
Anyone who unfollows before the giveaway ends or doesn’t complete the required entry action will be disqualified.
The prize is non-transferable, non-refundable, and cannot be exchanged for monetary value.
We may be using a parcel service or Royal Mail for some of the prizes and their standard compensation will apply in the event of loss or damage.
Some items may be sent directly by the supplier and we do not have responsibility if these go missing and we cannot replace them.
In the unlikely event one of the companies withdraws a prize, we cannot offer an alternative.
The winner’s name will be stated on some or all of our bloggers’ websites and announced on Twitter and other social media channels. It will also be displayed on the Rafflecopter form. By entering this prize draw you will be deemed to give your permission for this.
Please note the winner may have the same name as you, so if you see your name displayed, be aware that you are not the winner unless you have been notified by us.
The prizes won’t arrive in time for Father’s Day and there may be some delays in receiving prizes.

Good luck, and I hope a Pounds and Sense reader wins this fabulous prize bundle!

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January 23, 2023

Ways to Prevent Scams From Reducing Your Savings

Nick Saving Money credit cards, shopping 4 Comments

Sadly scams of all kinds are on the rise at the moment, with older people especially vulnerable to them. Read on for some top tips on how to spot attempted scams and keep your money safe.

Scams are a growing problem in the UK, with millions of people being taken advantage of each year.

From fake investment schemes to phishing e-mails, scammers are constantly finding new ways to trick unsuspecting individuals into giving away their money or personal information. The financial impact of scams can be devastating, leaving victims with empty bank accounts and a damaged credit rating.

Over 12% of UK consumers have fallen victim to payment fraud over the past four years, with an estimated £1.2 billion lost to scams in 2021 alone. With so many people having their savings impacted by fraud, it’s crucial to know how to protect yourself.

This article will set out four practical ways to prevent scams from reducing your savings.

Be cautious of unsolicited phone calls, e-mails and text messages

Scammers often use the promise of quick and easy money to lure people into their schemes. They do this through unsolicited phone calls, e-mails and text messages. Elderly people are particularly vulnerable to these monetary scams as they may not have the same level of technological literacy to spot one. However, anyone can easily fall into this trap as scamming methods grow increasingly sophisticated.

To protect your savings, you must not disclose your personal or financial information if you receive suspicious communication. You can also report dubious messages to the Information Commissioner’s Office, which has the power to take enforcement action against those involved in the scam.

Use strong passwords and security features

The government’s Cyber Aware campaign was launched in 2021 in response to growing scam and cybercrime incidents in the UK. One central piece of advice from the campaign is to use strong passwords and security features to prevent scammers from gaining access to your bank accounts.

For example, you can use a combination of letters, numbers and symbols on passwords to make them difficult to crack. Two-factor authentication provides another layer of protection by requiring a second form of verification in addition to your password. These two measures can significantly reduce your risk of falling victim to a scam that can empty your savings accounts.

Familiarise yourself with the technology used by merchants

As technology continues to evolve in the UK, so do the methods scammers use to steal your hard-earned savings. One way to protect yourself is to understand the methods used by merchants for their transactions.

Case in point, mobile card machines are commonly used by restaurants, cafés and pubs to process payments on the go. These devices are held to compliance standards like the Payment Card Industry Data Security Standard or PCI-DSS, which ensures that the machine follows protocols to protect cardholder data. Similarly, online merchants use virtual payment terminals to process payments online. Because shopping fraud schemes are on the rise in the UK, familiarising yourself with the technology merchants use can ensure you only interact with trusted businesses to keep your savings safe.

Choose banks with comprehensive fraud protection

In the UK, many banks offer fraud protection services as a standard feature. However, it’s still important to do your research and check that the bank holding your savings has the necessary fraud protection measures.

The Financial Ombudsman Service website offers resources regarding local banks’ anti-fraud policies. Additionally, you can check for your bank’s participation in the ‘Confirmation of Payee’ scheme. This initiative aims to protect customers from Authorised Push Payment scams, a type of fraud that tricks consumers into making a payment to a scammer. Banks participating in this scheme can check the recipient’s name against the account details provided by the customer and ensure the money is being sent to the correct person.

Scams can have a devastating impact on your savings—the fruit of your hard work. By taking the preventative measures outlined in this article, you can be vigilant and reduce your risk of being conned by one.

As always, if you have any comments or questions about this article, please do leave them below.

This is a collaborative post.

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September 22, 2022

Buy Now Pay Later – What Is It and Should You Use It?

Nick Everything Else infographic, shopping, borrowing, credit cards 4 Comments

Today I am looking at Buy Now Pay Later (BNPL). This is a retail payment option that has grown massively in popularity over the last year or two. It is most often used online but is also available at some physical stores (e.g. New Look).

I am indebted to my friends at HSBC UK for their assistance in researching this post (and the graphics). The stats in the article refer to an online survey of 1,000 people conducted by HSBC UK in March 2022.

What Is BNPL?

Most people’s first contact with BNPL comes when they are shopping online and it appears in the list of payment options.

As the name suggests, BNPL allows you to buy a product (or products) now and pay later. This typically involves paying a deposit followed by a short series of instalments. You may also be offered the opportunity to pay the entire sum after 30 days with no initial deposit.

So if – for example – the product/s in your basket cost £90, with BNPL you may be able to purchase with a down payment of just £30 and two further instalments of £30 at 30-day intervals.

One big attraction of BNPL compared with credit cards is that generally if you pay your instalments on time, you will not be charged interest. The BNPL firms make money by taking a commission from the retailer, which means they don’t need to charge anything to customers.

Another possible attraction of BNPL is that you won’t normally be required to complete a formal (‘hard’) credit check. You will just be asked a few quick questions and will be told there and then if you are eligible. The fact that you applied for BNPL won’t generally appear in your credit file or affect your personal credit score (whereas applying for a credit card certainly will).

This is likely to change in future, however, with greater regulation coming to the sector from 2023. Hard credit checks may be required from then on, in response to fears that BNPL is encouraging some people to spend more than they can afford.

BNPL is offered by a range of financial services companies, the best known of which in the UK are Klarna, Clearpay and LayBuy.

Who Uses BNPL and For What?

Research from HSBC shows BNPL has become the second most used form of finance behind credit cards (see graphic below). Women are more than twice as likely as men (43% v 21%) to use it.

The HSBC survey found that BNPL was most popular among 25-34-year-olds, with nearly half saying they had used it in the past year (49%), followed by 18-24s (45%) and 35-44s (45%).

As regards what it is used for, the survey found that clothing was the most frequent purchase type with BNPL, followed by food & beverages, shoes, appliances & electronics, and games & toys. This is summed up in the graphic below.

What Are the Pros and Cons of BNPL?

In the HSBC survey, those using BNPL said they valued it over other forms of finance because of the ability to spread payments (20%). They found it quick and easy to use (15%) and more affordable (13%) – with 87% of people who had used it in the past 12 months saying they were likely to use it again in the next year.

BNPL is also popular among people who like to try before they buy (typically with clothing). By buying this way, you may be able to try your purchase without any monetary outlay and return it with no further commitment if you don’t like it.

Sixty percent of BNPL users in the HSBC survey did express some caution, however, saying one of the top three drawbacks was it was too easy to get into debt or overspend. One in five listed lack of availability as a key disadvantage (20%), while one in ten (12%) said the fact it didn’t build their credit score was an issue.

These concerns were also raised by those who hadn’t yet used a BNPL service – with 62% saying one of the main barriers to use was it appeared to be too easy to get into debt or overspend, and nearly one in three (30%) saying that was the primary factor.

One other possible drawback with BNPL is that anything you buy this way will not enjoy the same legal protections you get when buying with a credit card. The latter only applies to purchases of over £100, of course.

My Thoughts

Thanks again to my friends at HSBC UK for allowing me to share their survey results and graphics.

With the current cost-of-living crisis, many of us are feeling the pinch at the moment. So it is easy to see the attraction of BNPL for helping budgets stretch a little bit further.

In my view, BNPL can be a sensible option if you need short-term credit and are confident you will be able to repay the money over the period specified. One big attraction is that most BNPL offers do not involve paying any interest as long as you stick to the terms of the agreement. Neither is using BNPL likely to affect your credit score (though it won’t help build it either). And, as mentioned above, payment-in-30-day offers can allow you to try before you buy without any up-front financial outlay.

Some BNPL firms also offer longer-term credit up to 18 months. A hard credit check is required for this and interest will be charged, so this is more like a personal loan. Interest rates tend to be high and you may end up paying back considerably more than you borrowed. I do not recommend going down this route, unless you really don’t have any viable alternative.

Of course, BNPL does have the potential for encouraging overspending and drawing you into debt you then find difficult to repay. If you miss any of the scheduled payments, penalty fees and/or interest may be charged and your credit rating may also be adversely affected. Ultimately, a debt recovery agency may be called in. If you think this is a risk, it may be better to wait and save up before making a purchase in the traditional way.

As always, please feel free to leave any comments or questions about this post below. I would also be very interested to hear from any readers who have used BNPL themselves. What did you use it for and why? And would you do it again?!

You might also like to check out this article from HSBC UK about their BNPL survey.

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July 17, 2022

Is It Worth Waiting For Black Friday to Buy Big Ticket Items?

Nick Saving Money events, shopping 4 Comments

Amazon Prime Day is over now and the next big shopping event is Black Friday, which this year takes place on Friday 22nd November. But in this time of rising inflation, is it sensible to wait until then for any big-ticket items you need?

My colleagues at Offeroftheday have been crunching the numbers, and their figures indicate that in these inflationary times, waiting for Black Friday might not be the smartest thing to do.

How Are Prices Changing?

Figure 1 (below) shows how prices from eight popular retailers on the Offeroftheday website, including clothing, home & garden and electronic retailers, have changed over the last 12 months. It reveals that during this time average prices rose by over 15%. As the chart shows, this is a significantly higher rate than the UK’s CPI inflation rate.

While the chart does show a dip in prices around the Black Friday period in late November 2021, the data suggests that when prices are rising rapidly (as now) it may still be better to buy as early as possible rather than wait months for possible Black Friday discounts.

Why Are Prices Rising So Fast?

There are various reasons for the rapid rise this year in consumer prices. One is the record increase in energy bills. This has had a knock-on effect on retailers, who are now paying substantially higher running costs for their shops and factories.

A further factor is the big increase in fuel prices, adding to distribution costs. Inevitably, some of these increased costs get passed on to the consumer. The average pump price in June 2021 was 130.73p. Compare this to June 2022 where the average price was 190.93p, a jump of 46% in just twelve months.

Other factors causing prices to rise include logistical issues (e.g. HGV driver shortages), wage rises, shortages of goods and raw materials caused by trade barriers and the war in Ukraine, the effects of extreme weather (possibly caused by climate change), the ending of support schemes for businesses introduced during the pandemic, and so on.

So Is Black Friday Worth Waiting For?

In November 2021, Offeroftheday found the mean average discount of all products on the website was 5.6% compared with the previous month. Given the current trend in pricing shown in Figure 1, by Black Friday November 2022 this discount would need to be significantly higher than that to offset the new base prices.

So does this mean you should do your shopping now? Well, yes and no. Black Friday has a focus on high-ticket items. It is one of the few days when the Apple Store has discounts, and many retailers cut their prices by 50% and more on some electronics and white goods. Even allowing for rising inflation over the next few months, those are significant savings.

While in previous years prices on Black Friday fell far below any other time of the year, Figure 1 shows that Black Friday 2021 only briefly managed to offset price rises, effectively turning the clock back a few months at best. Not surprisingly, many sources reported a decrease in total spend on Black Friday 2021 compared to the previous two years. While some of this can be attributed to lockdown measures and furlough, the data shows that Black Friday discounts simply were not as impressive compared to previous years, especially compared to the prices being charged just a few months earlier.

Black Friday 2022 and Beyond

As mentioned above, Black Friday 2022 falls on Friday 25th November. However, If cost increases continue on their current trajectory, prices could rise as much as 7% between now and November. This means that a product averaging £500 today could cost upwards of £535 in five months time.

Some products will undoubtedly see big discounts on Black Friday 2022. But with inflation currently approaching 10%, we can expect average prices from retailers to continue rising overall. If you’re on the fence about a big purchase, it may therefore be worth buying now rather than hoping for big discounts later in the year. Once we pass August/September, it might be worth holding out for a month or two to reap the benefits of Black Friday discounts. But there is, of course, no guarantee that the particular product you want will be discounted for Black Friday, or whether any discount will be enough to offset price rises caused by inflation.

Black Friday is still the largest shopping day of the year for retailers, so expect to see some big discounts and eye-catching offers. But if it is anything like last year, average discounts may not be as impressive as in years gone by, and for many items you may actually get better prices if you buy now.

Although in this post I have focused on big ticket items, it should be said that Black Friday can also be good for buying cheaper items at a discount. I am thinking here of consumables such as ink cartridges, stationery, clothing, cosmetics, food and drink, and so on. Black Friday can present opportunities for stocking up on such items at bargain prices.

Thank you to my friends at Offeroftheday for sharing their data with me. Please do check out their website for great offers from a wide range of leading online retailers.

As always, if you have any comments or questions about this post, please do leave them below.

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