How to get the best deals on home appliances

Although we can’t always guarantee that we will need a new home appliance when the sales are on, there are times of the month, and the year too, when you can save money when replacing home appliances.

We all know that when your fridge or washing machine breaks down you will have to replace it, but generally never impulse buy an appliance. Spend some time to get a good quality, well priced appliance and importantly, what you really want. Here are our top tips for getting the best deals on home appliances.

New Models!

Generally, manufacturers roll out new appliances in January, September and October so retailers are always keen to clear last seasons’ stock at these times. If you are looking to replace your fridge, the great news is that these are the exception to that rule and new models come out in spring….so now is the time to get a good deal.

According to the online statistics we researched, November is the best month to buy.

Last days of the month

During the last days of each month retailers are keen to meet their targets and so you are more likely to get a better deal at these times. Of course there is no haggling with a website, but perhaps you could email the store owner – if you don’t ask, you don’t get!

Statistics show that the 4th, 5th and 23rd or 29th are best dates to buy in the month.

Best Day of the Week

Thursday is considered the best day of the week to get good deals on home appliances because you avoid the crowds at the weekend rush when most people are off work.

Interestingly the statistics gave us the time of 3 pm to buy, so if you were looking at the last Thursday of November at 3 pm you would be on to a winner!

Refurbished Products

Buying a refurbished product doesn’t always mean that it is used. Often times people simply change their minds and return it, so you are getting a new product, usually with a good discount from what it originally cost! Products are always checked for damage and defects before being resold. Apple, Currys, PC World, Argos, Littlewoods, John Lewis, Amazon, Marks & Spencer and eBay all sell refurbished products and either have clearance outlets or a refurbished website, so definitely worth some exploring before buying brand new at a higher price.

Top Brands 

We all know that buying top brands can mean you are getting top quality, but that isn’t always the case. Don’t be afraid to look at brands that aren’t as well known. You might end up with more for your money. Read the reviews from people who have bought these items before you and if it feels good to you then go for it!

Online Retailers

Many online retailers offer discounts for purchasing online, particularly when it comes to larger appliances such as cookers/ovens, washers, dryers, fridges and freezers.

As always the Money Saving Expert has the latest deals, so worth looking at that site too while you are tripping around the online shops!

Go Local

Going local keeps money within your community. In Nottingham we can recommend Home Source for You. Visit http://homesource4u.co.uk to get a great deal.

Finally…

We can be tempted with finance deals or buying home appliances where you can pay weekly. Although the weekly amounts might seem a great deal, be sure to check the interest rates attached to these. You may find that you end up paying so much more on top of what you are saving on the appliance. As a fair and responsible lender, we offer loans from £100 – £10,000 at very competitive rates. For example, you could borrow £500 over 52 weeks for just £11.50 a week*, so if you are considering borrowing to buy an appliance, see how we compare and apply online

* Loans subject to status. Over 18’s only. 42.6% representative APR. £500 – 52 weeks – £11.50 pw. £97.02 total interest. Nottingham Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Registration No. 213439

Categories: BLOG.

Benefits of a Payroll Scheme

Saving isn’t something that comes naturally to all of us and many people live from month to month financially, which can be difficult when it comes to times when you really need money in an emergency. This can be anything from an appliance breaking down, home or car maintenance to needing to travel somewhere. Having regular savings isn’t just about paying for the things you want, but more linked to security and knowing that if you need something urgently you have the money to pay for it.

If you’ve ever read anything about building wealth and managing your finances better you’ll know that the general rule of thumb is to save 10% of everything you earn. Now we know that this isn’t always going to be possible, but as a starting point it’s a good guideline. Let’s keep it simple; if you earn £1000 a month, to save 10% would mean you would need to save £100 a month – does that seem reasonable? If it isn’t then work from this until you reach a figure that is. Even saving 1%, just £10 a month, is better than saving none at all.

Credit unions are all about serving people and improving the financial wellbeing of the local community. One of the ways they do that is by forging relationships with local organisations to set up payroll deduction schemes.

How do Payroll Schemes Work?

The best way to think of a payroll deduction scheme is in the same way that a pension payment is made; directly from wages or salary. A link is set up between the credit union and the payroll department of the organisation. Members of staff sign up and open a credit union account and then specify a savings amountto be deducted each month or week. The amount is deducted from the net salary (after tax) and transferred directly into their credit union account.

 

Why is it easier to save this way?

One of the biggest mistakes people make when saving is that they wait until they have paid or bought everything else before deciding what to save. Returning again to our point on building wealth and managing your finances better, you should always pay yourself first. Now we are not suggesting you avoid important bills or payments, but by considering a regular saving amount you can afford and paying that first, means you are more likely to succeed with your savings than if you consider it as an afterthought, once you’ve paid everything else. By doing it this way, the savings amount becomes an important payment you make each week or month, but the beauty of it is, you are paying yourself! We all deserve to have the security of savings and this is a tried and tested way of doing it.

Just like any other banking organisation, your credit union savings are protected by the Financial Services Compensation Scheme up to £85,000.

Are there any other benefits of joining a Payroll Scheme?

Yes! Part of managing your money better is being able to borrow when you need it. If we dipped into our savings every time we needed something we would have nothing left and so you may wish to borrow from time to time too. Credit unions often give a preferential loan rate to their payroll scheme members. Once a credit union member, payroll scheme organisation members can apply for a loan and have the loan repayments made in the same way; deducted directly from their salary. For peace of mind and confidentiality, payroll departments do not have any information on what the payment you are making to the credit union is for (i.e. it could be for savings or loan repayments). You only have to specify the amount and frequency. The payment is simply sent to your loan account for repayment.

How can I join a Payroll Deduction Scheme?

A lot of local councils and housing associations will already be members of a payroll scheme. If your organisation isn’t you can simply approach your HR department and ask them if they would set one up. Credit unions have teams who work on this specifically and the process is quite simple in terms of setting a up the scheme and putting everything into place. You can find out more about the Nottingham Credit Union Payroll Pro Scheme by clicking here and share with your employer by visiting and when you land on the page and have read the information you can watch the short video that gives you an overview too.

Categories: BLOG.

How to decorate your home on a budget

There are more ways to redecorate your home than simply using paint and wallpaper. By thinking a little more imaginatively you can create a beautiful home in no time.

Here’s our top 25 tips to decorating your home on a budget!

  1. Set a budget and stick to it!
  2. Focus on completing one room at a time.
  3. As well as setting a budget, set yourself a time frame for each room.
  4. A simple one colour lick of paint with a feature wall will make a real statement to a room and give it a complete makeover.
  5. Clear clutter and get organised. Be ruthless when it comes to getting rid of things you no longer use or want. Be honest with yourself, it is the first step to getting a beautifully decorated home.
  6. Get a friend or family member to do an appraisal for you. When you have been living in your home for a while you see the same thing and getting a fresh set of eyes gives a different perspective when it comes to what decoration to go with.
  7. Move your existing furniture around and taking a couple of items out and replacing with new or refurbished ones, will completely transform a room.
  8. Reuse old furniture and give it a second life – take an old chair and make it into a bedside table.
  9. Create space where there is none! Using mirrors and glass accessories gives an airy and open feel, creating space through a small room.
  10. Avoid big retailers and go to garage/house sales, look on eBay, Gumtree or other auction or selling sites for decorating items people have not used.
  11. Look in second hand shops and markets for items you can reuse that will add interest to your home – be bold!
  12. Make your own art and get creative.
  13. Choosing white linen with florals keeps your bedroom looking spring-like all year round.
  14. Painting a room plain then hitting it with vibrant colours like green and generously accessorising in that colour will make the room pop.
  15. Building a desk, shelves or wardrobe doors is a way to get your clutter out of sight.
  16. Transform dark rooms with lighting. New lampshades or spray painting an old lamp stand works wonders.
  17. Keep the theme simple so as to avoid needing to buy lots of different colours.
  18. Create a gallery feature on a plain wall using different frames for interest. If you aren’t sure how to place them, going for something geometric will always work well.
  19. If you go for plain walls, to keep paint costs down spruce up with different textures, throws and pillows in different colours.
  20. Create a focal point in each room and then group things around that.
  21. Don’t just buy things to fill space, go with items you really love. Less is more! Don’t just buy something because the price is right, make sure you like it.
  22. Add something new to your kitchen to spruce it up like new cushions on the chairs.
  23. Being on a budget doesn’t mean it has to look cheap. Mix and match things you have bought; higher end with lower end. Market and second hand store bargains add a vintage feel.
  24. Vacuum and washing the floors will make your home sparkle. Make sure you get rid of all the dust from what you do have.
  25. Let the sun shine in, open your doors and windows to let in the air and clean all the windows.
Categories: BLOG.