It’s been an uncertain year and it might seem early to start thinking about Christmas. But have no doubt, the kids are already. Planning ahead could really help you manage your finances this year, especially if you have children.
Kids might have high expectations and that won’t be helped by adverts pushing the ‘must-have’ toys and games. Try to ease the pressure by reading this great article on how to sprinkle some free Christmas magic.
If you do need to borrow over the Christmas period, start thinking now about your budget and how much you might need. This can help avoid needing to turn to higher-cost pay day lenders or using expensive credit cards.
Our Family Saver Loan gives families with kids the flexibility to borrow at these more expensive times, and pay it back or save throughout the rest of the year.
With a Family Saver Loan, you can borrow up to £600 at 3% per month (42.6% APR) and pay it back via your child benefit payments. It’s open to all families receiving child benefit, even if you are on a lower income, or not currently employed.
Once you’ve paid back your loan you can start to save your child benefit with your membership account so you are ready for any unexpected costs, or even for Christmas 2021! Once you have paid back at least 1/3 of the original loan, you may also be able to increase this limit to £1200.
Setting up your loan with the child benefit for the first time can take a few weeks, so we recommend applying as soon as possible if you plan to borrow for Christmas. That way you will also get some more time to shop around for the best deals and make Christmas even better!
Our team will be there throughout the whole process. Don’t just take our word for it, our members have been reviewing us on TrustPilot and given us 4.7/5 stars.