credit or no

TCPPC

Hi

Situation is: we are moving into our new home in 3 weeks time, excited but we don't have many furniture after renting for a few years.

We have a budget of 1,800 - 2,500 (max) for beds, sofas, white goods etc

Plus 3.5 months mortgage payment in reserve.

My partner is very keen to go for interest free credit plans to get our sofa or carpets (1 room).

Im very against taking on more credit. what do you think, she does seem to have a point it would help us in terms of cash flow and its interest free and a manageable monthly plan (30-40 per month).

should i stick to my gun no more credit?

Tixy

I would not take on any more credit straight after a mortgage.

These interest free deal places are almost always considerably overpriced and you will find much cheaper by paying up front, even if you need to stagger the purchase of some items.

ellesbellesxxx

Go on freecycle or local paper even to a local charity shop - get something cheap to tide you over then save up. You will be grateful for as few outgoings as poss in first instance.

jodles16

Hello! Congrats on your new home! We are in a similar position, but we need to dog proof a large garden instead of furniture, its hard to know if its better to just go for it or wait and save!

I would say if you can wait a few months to get an idea of what all your outgoings are on the property to work out what you can afford extra and then perhaps it might work out better to save rather than borrow? We are currently saving hard in our first home as the monthly costs are much lower than our new home, so hoping we can get away without credit (need a safe garden for the doggies, non negotiable!).

Perhaps work out how much you could save a month and how long that would take to save the amount you want to borrow, you may be pleasantly surprised!

When we got our first home we trawled freecycle and asked family members if they were getting rid of anything! Now three years on we still have lots of second hand but great stuff!

Really good luck with your move and I hope its perfect!

Jodles

moohound

You don't need everything new at once, we had hand me downs to start with and replaced them slowly over many years. It is surprising how older furniture can be made to look nice with cushions and tablecloths.

sweetilemon

Its up to you. Personally? Id see what I could buy cheap/aquire from gumtree and local adds before I spent money I don't have. It gives you time to save. There are a lot of variations in costs when buying a home, probably best to save monthly income until you have a firm grasp of what you can afford.