Was This A Good Credit Deal?

System

Yes I know but the problem is we cant save at all,

debrag

if you can't save then where is the £20 a week coming from? 1 month that could be £80-100

System

I'm paid weekly on a Friday, By Monday I'm broke, the money just goes on something stupid at least with this I will have something to show for it. I thik this type of think is good for someone like me, I mean me and the wife have been living together 6 years and 90% of our furniture is free second hand tat as we can't save to buy new items,

chappers

On the surface looks like a fairly good deal for that sort of credit purchase but the real way to tell is how does the price of the sofa compare to similar items bout elsewhere. We are bvery similar to you are excellant at paying our monthly obligations and commitments, but spend our spare cash like its going out of fashion.Did Martins budget planner yesterday and was horrified to see we are spending £1600 per month (£53 per day) on the goodlifeFelt a bit stupid when i realised there are people on here living on £4K a year, now I'm not about to get as drastic as that but have made a resolution to overpay something off my mortgage and not !!!! all our money away.

newmum1

It s bit expensive why not try saving the £20 in a separate bank account then once you have it saved u can buy your sofa. I know you said you cant save but if you want something bad enough u will.

Squirrel29

Why don't you post up a statement of affairs so we can see what cutbacks you can make to enable you to save this money. If you can't spare the £20 now to save, how will you do it when it is part of a credit deal? I just think someone coming round to your house sounds quite dodgy and I would feel threatened by it.. a future of hiding behind the sofa when I knew they were coming if I didn't have the cash.

CLAPTON

Frankly
£20 per week is £1040 per annum which equates to a two week skiing holiday for 2 people or 2 weeks in the sun... given the choice between the spending on junk, a sofa or a skiing holiday, I'ld rather go skiing.. but each to their own

pandapaws

I'd rather have the sofa! Each to their own as you say!

The amount of interest you're paying sounds pretty fair, considering it's a no-credit-check type agreement, although I'd have had to see something in writing. Do you know anyone who's done the same thing through this guy? He's not the type to come round with a baseball bat is he?

chappers

Squirrel29 wrote: »

.. a future of hiding behind the sofa when I knew they were coming if I didn't have the cash.

And not even your sofa at that!!!!!:p

I wouldn't worry doesn't sound like that is going to happen with the OP as he says he does have the money, its the equivilent of 6 pints down the pub looks like h'e going to have to make some serious cutbacks

System

chappers wrote: »

And not even your sofa at that!!!!!:p

I wouldn't worry doesn't sound like that is going to happen with the OP as he says he does have the money, its the equivilent of 6 pints down the pub looks like h'e going to have to make some serious cutbacks

Not really, I gave up drinking last year so I have this extra cash every week which I usually just end up sepending on pointless stuff like chinese carryouts etc