We all need a little extra
Want I want to talk about here is getting a little extra money. We all need a bit extra
occasionally - and there are several ways which can get you the money you want: catalogues,
pay day loans on the TV, high street shops - such as Brighthouse, and of course a common or
garden loan. I better lay my cards on the table now - I have a preference for catalogues, and I'll
explain why as I go along.
Catalogue Shopping
As I mentioned earlier, my preference on getting a little extra is to use a catalogue. There
are several catalogues to choose from: Very.co.uk,
Littlewoods.com, Isme.com - you can see the links to these
catalogues on the right. The advantage of shopping with a catalogue is that they offer various means of credit;
if you want to pay weekly or monthly, that's fine. If you want to pay next year, that's fine too. But the biggest bonus is
that you can get this interest free of charge. Yep, no interest at all. This is very handy indeed, especially when
you consider that some pay day loans have an interest rate of 500% - and the APR of up to 1734%! (If you're confused about
what APR means, have a look at our guide to APR - you can also Facebook us, or Tweet us if you have any questions).
When I first saw the 1734% APR, I nearly choked on my tuna sandwich. I never thought such a high figure was
possible.
Pay Day Loans
A pay day loan is a loan which will give you some money just to tide you over until pay day (get it? pay day loan - does
what it says on the tin). Typically you'll be offered a couple of hundred quid for a week or two. The trouble with
pay day loans is the interest rate (watch that APR again). I've seen these pay day loans having an APR of
1734% - holy mackerel, that's some rate. Only take a pay day loan if you really need it. Should you want
something specific, and that something is available in a catalogue, it's probably worth taking some credit from the
catalogue and getting a drop of that interest free credit - I did say at the start I am a bit of a catalogue fan!
Pay Weekly Shops
The high street now has a sprinkling of shops which allow you to pay weekly. Shops such as Brighthouse offer
the same kind of deal as catalogues, in that you get your goods now, and pay for your purchase on a weekly basis -
just watch those APR rates though.
The common or garden loan
Finally, you've got a good old fashioned loan. You can find a form for a loan here, if
you think a traditional loan is more your thing. Enter your details and someone will contact you about your requirements.
Summary
So there we have it; several ways to get access to some money (or at least, some stuff you need):
All I say is watch the interest rate and the APR. I know I go on about the interest rates and APR rates - but
you really want to make sure you're getting the best deal.
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