Saving with Park cataloge

shandypants

I apologise if this is not the correct forum to be on, but I was thinking about saving with park catalogue for Christmas 2012 but wondered if anyone has done this saving scheme?

Thanks for your help
xx

alanq

Not something that I would consider. I believe funds now have more protection than when Farepak went bust but even so I would rather save my money with a financial institution.

If you want a Christmas savings scheme there are a number available from building societies. You get interest on your savings and can spend your funds wherever the best prices are offered.

LIDDARD

Schemes such as park generally offer poor value for money.
Weekly instalments are low, but you can almost always get the same, for less, at your supermarket.

How about these supermarket christmas schemes?

http://www.tesco.com/clubcard/clubcard/clubs.christmassavers.asp

http://asdacards.co.uk/asda-christmas-savings-card

These pay a bonus when you save a certain amount so you are effectively earning a few quid. Most stores have their own version and remember tesco will earn you clubcard points which can be used at christmas or traded for "deals" worth upto 4x their value.

shandypants

Thanks for that Alanq. I was a bit worried that it might go bad like Farepak. I think I might try a building society as you suggested. Thanks x

Derivative

As far as I can tell, this is not really a 'savings' scheme.
You buy products from their website, and then pay them off between now until Christmas. They deliver products at Christmas.

I don't see any benefit at all to this scheme over Christmas savings schemes as alanq has said.

Sometimes the simplest ways really are the best. I would say putting money in an instant access savings account is the best way to go. That way, if you spot a 'bargain' that you know someone loved is after, you can pick it up there and then, saving you money long term. Any interest on Christmas savings is likely to be negligible - 5% on £50 per month is less than £15 over the year.

shandypants

Lol, never thought about tesco, didn't know they did that. Seems a simple thing really. I live right down the road from Tesco and most of the presents for last Christmas were bought from there! Thanks Liddard for the links. xx

atush

I would do the Tesco or other grocery thing (for food and drink mainly as they will give you a few quid on top) and building society for the presents fund. You can get better deals than Park, and your money will be safe.