Park - Saving for Xmas 08, worth it or steer well clear?

my_gorgeous_ellie-belle

Hi all, just thinking ways of spreading my costs for xmas 08. Have thought of saving with Park and getting their voucher offers. What you pay in is apparently what you get in vouchers, no loss. I just though as i already spent nearing £2000:eek: pounds on everything for this christmas, yep im 99.9% done, but its hurting my pocket as its has only been spread over the past 4 months. I was thinking of saving £20 for 45 weeks and getting £900 pounds in High Street Vouchers (i think - as i dont have the catalogue to hand) they are the ones you can use nearly everywhere including Iceland too which is handy. And also saving £20 a week for the travel vouchers so we can have a holiday just after xmas 08 (with virgin as i already have my eye on some of their hol packages).:D

So basically im rubbish at saving and does anyone recoomend Park or say steer well clear? Are they as safe as they make out they are?:eek:

Ta all!:beer:

tenmah

Hello

I saved with Family Hampers this year, who are a subsidary of Park. I have been withh them for a number of years and find them invaluable.

Personally I know I wouldn't be able to save in a bank account over the year without dipping in!

Also, since the problem with Farepak, they now ring fence the voucher money, meaning it is safe whatever happens, so I had no qualms about saving with them again and will be doing again next year.

Mikeyorks

Put your money in an interest paying savings account !!

However - if you consider you can't trust yourself to do that - look at the account the Post Office is setting up :-

http://news.bbc.co.uk/1/hi/business/7095944.stm

- seems similar in most respects (no interest / vouchers possible or pre-loaded debit card) to Park et al, but a bit safer as it's directly underwritten by their banking partners . And possibly more accessible for payments? Couldn't trace a link on the PO site yet (the account opens next month) - so a bit unsure of precisely what the incentives are that they promise in lieu of interest (earlier thread on here a few weeks ago).

busydaffodil1

would be very interested in that Post Office Account but I have sent off for the Park Hamper Voucher catalogue too. I think its a pretty good way to build up Present money. I only need £200 for shop bought pressies so £20 a month is fine for me.
I have looked at the PO website and theres no mention of the savings club.
Will keep my eyes open for it as it might be a safer bet.

JohalaReewi

Why not save in one (or more) of the christmas saver accounts? You pay in regular amounts with a high interest rate and can't get at the money until next year. The savings forum is a good place to look...

http://forums.moneysavingexpert.com/showthread.html?t=608697
http://forums.moneysavingexpert.com/forumdisplay.html?f=17

http://forums.moneysavingexpert.com/showthread.html?t=613527

my_gorgeous_ellie-belle

Thank you - yep i need the money locked away if its for xmas, will keep an eye out for the Post Office one but i think i have found a better deal on the last link from Johala's post. Thank u again!

my_gorgeous_ellie-belle

Its the Chorley Santa Saver by the way - i think i will do that application shortly but i'll still do a smaller value voucher offer with Park - that way im less restricted but i'll know that if i happen to go lower on a few payments on the Chorley one at least i'll def have to pay the Park one and that way im guarunteed to recieve set something at the end rather than rely on my willpower to pay for example £150 a month, lol!

JohalaReewi

With the Chorley one, you can make up for missed payments in the previous month so you get a chance to catch up.

baby_boomer

Surely vouchers restrict where you can buy - which must surely lead to further losses, in addition to the lost 8.5% interest by not having the Chorley account?

Or am I missing something?

Why would anyone want to pay for Park Agents to have a Merrier Christmas than them?

my_gorgeous_ellie-belle

Yep the vouchers do restrict - but hey i always get LO's pressies in woolies and im always in boots spending a fortune. Its just im so terrible that if i dont have the vouchers i could easily get sidetracked and spend it on something else. I will be doing Chorley too for definate though! But have got to get the M&S vouchers as that covers LO's xmas dress and christmas food shopping (a massive treat for us as its usually Tesco's) I do adore m&s food as for some reason i can tell the difference meatwise. So its just to guaruntee that m&s shop and a bit more.

So i suppose its to set my mind in the right frame of mind or something, lol! Im trying to treat myself and if i have vouchers i will spend in M&S but if i have cash i find it harder to part with and will automatically go looking for a bargain (tesco or asda) - just the moneysaver instinct in me, lol!

Primrose

REMEMBER THE FAREPAK LIQUIDATION ??? I don't understand why people buy vouchers or pay into Christmas Savings accounts run by somebody or other which restrict or limit how or where they can subsequently spend their money. By the time Christmas 2008 arrives you may have different needs or priorities and having your savings in a simple easy access high interest paying account will give you far more flexibility.