Short term loans
Are you thinking of taking out credit to tide you over for the summer holidays?
Buy now pay later, payday loans and doorstep loans can be convenient, if you need money fast. However, these types of loan are an expensive way of borrowing and can leave you worse off financially. Before signing up, you should make sure you can afford to repay the full amount including the interest. You also need to think about what might happen if you fall behind with payments.
Relying on short term, high interest credit to pay for essentials is a sign that you need help. If you’re struggling with money, find out how we can help you.
There are cheaper ways of borrowing, including arranged overdrafts and credit unions. If you're on a low income and need emergency help with money, you may be able to get support from a trust fund or your local council.
Things to do when it’s raining
British summers don’t have a great track record, so if it’s chucking it down outside, stay in and make your own fun instead.
Learn a new language
Lessons can be costly but there’s a wealth of free information available on the web. This tip is for older children and may take a while to get the hang of, but it could be the start of a new hobby. You could even learn together.
Try the BBC online language centre, or a free app like Duolingo.
Get the board games out
Everyone has a collection of old board games like Monopoly or Trivial Pursuit at the back of a cupboard. Dig them out and invite friends round to join in. You can also get kids involved to make homemade snacks so it’s an even more fun and cost-free day.
If board games are too ‘old school’ for them, why not have an Xbox, Nintendo or PlayStation tournament instead?
Teaching kids to cook is a great life skill. Let them pick what food they want to cook, see what you have in the cupboards and do your own version of Ready, Steady, Cook!
Childcare over the summer holidays
Talk to your child’s school. They may have extra activities planned for children over the school break or could help you find something local that’s fun and educational for the kids to take part in.
Share childcare with other parents
Talk to other parents. Many other mums and dads will be looking to save money over the school break. See if they have any activities planned that you and your children could get involved in. There are mobile phone apps that can help you connect with other local parents.