Anyone NOT saving xmas vouchers next year?

SuperSaverSue_2

For the past 5 years i've saved for high street vouchers but thinking of stopping. Used to save with Choice but that went bust beginning of the year, now with Farepak going i'm a little concerned about saving again.

Are there others who wont be saving next year?

Sue

earthmother

Me :wave:


I just don't feel comfortable with them any more.

We only ever save a couple of hundred pounds worth, but to us it's a major part of the budget, so to loose it would be disasterous.

I've opened a regular saver account and set up a SO for the same amount I would have sent the hamper company - so long as I don't get tempted to dip (my original reason for using the vouchers) I'll be ok - even slightly better off with interest (don't get commission on small voucher orders).

pink_phantom

wouldn't it be ok to save as long as you pay by cc because if anything happens you can claim it back. I am wary of saving again but i am too weak not to "dip" if the need arises.

postingalwaysposting

i used to a few years back but never again since i found this site... since then i send a standard amount by direct debt (usually the same as i would have sent to the company) to one of my savings account (sub accounts) this means my shops arnt limited... i can shop online and get cash back and also you will get interest... instead of giving the company interest

iwanttosave_2

I think bank could do great by doing a high savings account, that you couldnt withdraw money from until a certain date, for those that find it hard not to dip in to savings, it would be ideal.

earthmother

iwanttosave wrote:

I think bank could do great by doing a high savings account, that you couldnt withdraw money from until a certain date, for those that find it hard not to dip in to savings, it would be ideal.

There are such accounts - called one year bonds - but for me at least, the minimum monthly amount is too high to utilise them.

Another option would be the long notice accounts (60/90 days)

rebl43

ME ME ME!
There is no way in the world I will ever be going near one of these schemes again!

tankgirl1

i wasnt going to use them again, until my mum (the agent) said she would make all the payments with her visa card.

as i too am too weak to leave any savings alone, i think this is best for me

Trow

What about the regular saver accounts? They usually last for a year, and have a high interest rate.

The Halifax one is 7%, saving from £25per month and no withdrawals allowed - so start it now to get it in a year:

www.halifax.co.uk/savings/regularsaver.shtml

This is just an example - other banks have other accounts, this is just one I use and so know about.

My kids have one that is saving from £10, and is 10% with that bank - so that might be an otion if you want to save less and you have kids (as long as you keep control of the account...)

mykidsmum_2

I've saved for the last 4yrs for vouchers, I was lucky as I didn't use farepak, but I won't be doing it again. My agent will only take cash so no way will I risk it next year. I don't have a credit card so its a good old fashioned 30 day notice bank account for me next year.

s
(have already spent all my vouchers for this year just in case they go bust too! i'm a tad paranoid:o )

middleman_2

Hope nobody minds me asking, but apart from not being able to dip into the savings, what exactly are the benefits of these schemes. Are incentives offered? Do you get interest? Just curious because never used them and wasn't aware they were so popular until now.