A City Break Weekend that Won’t Break the Bank

There can be little doubt that a weekend away in a fun city is one of the best ways to relax and recharge those batteries. The great news is that nowadays, you can do this for far less than you might think. Here we look at some tips that can help you to take a break without worrying too much about the overdraft when you return!

Off the beaten track

Although Paris may be your preferred destination, why not buck the trend and look into somewhere a little less obvious instead? Cities such as Dubrovnik are just as beautiful, and will cost almost half as much as the French capital. You can get some lovely 5 star accommodation here for less than £300, and the weather is great almost all year round.

Shop around

Check out holiday comparison websites, but don’t take the first bargain that you see. Sometimes it pays to visit high street travel agents and ask for any last minute offers that may be available. You might be surprised to learn that they often have access to cheap flights, and hotel rooms that would otherwise be empty.

Avoid peak times

When you’re booking your holiday, try looking at different dates, and compare the prices. Weekend travel will always carry a premium, so why not travel on a Tuesday or Thursday instead? The savings could easily add up to a few hundred pounds, and you’ll still be staying in the same hotel – but with a lot more spending money in your pocket.

Follow these PiggyBank tips, and surprise your loved one in a way that he or she will never forget!

Sensible spending is an approach that all of us at PiggyBank are in favour of. We are a payday loan direct lender,  and our service is designed to offer responsible lending to those who are in need of short-term loans and able to pay back within fixed and agreed repayment terms.

PiggyBank named a top rated short term loan provider

PiggyBank is thrilled to announce that we have been voted as a “Top Rated Short Term Credit Provider” in the 2016 Consumer Credit Awards.

The Consumer Credit Awards are the first consumer-led credit awards, voted for by customers, not a panel of judges. 2016 saw the first year of the awards, with thousands of customers voting. We’d love to thank you of taking the time to vote for us, it means a great deal to us.

With voting in eleven categories, customers rated PiggyBank 4.83/5 making us one of the highest-rated companies taking part in the awards. Other winners included Tesco Bank (Best Credit Card Provider), and BTCPOP (Best P2P Lender).

‘We are delighted to have been voted as a “Top Rated Short Term Credit Provider” in the 2016 Consumer Credit Awards,’ says CEO of PiggyBank, Dan Ware. ‘Delivering positive outcomes to our customers at all times is at the forefront of the culture of PiggyBank. The customer is our number one priority. So to receive this level of positive feedback from our valued customers makes myself and the team extremely happy.’

The company behind the awards, Smart Money People, were founded in 2014 and are the UK’s leading independent review platform for financial institutions. Mike Fotis, founder, said: “Congratulations to PiggyBank and all of our winners. At Smart Money People, we’re using customer reviews to increase trust and transparency in financial services, and these awards will help other customers find the best possible products on the market.”

To view our rating, or to leave your own PiggyBank review, visit the Smart Money People website. Thanks again for all your feedback!

Overdrafts more expensive than payday loans, says Which?

Originally written By Brian Milligan (Personal Finance reporter) on 8 July 2016 at the BBC.

Borrowing money on an unarranged overdraft from your bank can be more expensive than taking out a payday loan, says consumer group Which?

Anyone who borrows £100 for 28 days from a payday lender now faces a maximum charge of £22.40.

But going overdrawn without agreement from your bank can cost as much as £90, according to Which?

Read the full story at http://www.bbc.co.uk/news/business-36746372
Copyright © 2016 BBC

New Website

After months of hard work, we are pleased to announce that we have launched a brand new website. The new website has been designed with you in mind; providing the best user experience, with improved functionality and ease-of-use throughout, making sure you can get all the information you need, when you need it.

Every single part of the new website has been tested multiple times to ensure we can give our customers an even better experience, whether it’s the first time visiting the site or if you are an existing customer of ours. We loved the old website and so did our customers, but it is always important to always improve and do things better.

Reviews

Every page has been simplified to make everything easier to understand and it is now even simpler to navigate through the site. We have added a new section for reviews, to show you how our customers feel about the service we provide and we also give you the opportunity to review our service. Transparency is a key part of our we operate as a business and so it is important that everyone who comes to our site can see what other people think of us.

PiggyBank Reviews

 

Blog

We have also completely overhauled our blog section and split it up into three sections. We talk about everything that our customers may be interested in, from money saving tips, to how to treat your kids on a budget. There are a lot of people who run startups, or who want to start a company and so we have two sections on the kinds of technology we use and how we managed our startup journey.

PiggyBank Blog

 

FAQs

Our FAQ section has also been updated with lots of new questions and answers. We always want to give our customers different options to get in contact with us to ask questions regarding applications queries or if you have a live loan. However we also want to enable you to get the answers you want from our website. Split up into three categories, you can now get the answers to almost everything directly from the FAQ’s.

PiggyBank FAQs

Have your say and win £1000

PiggyBank have been operating since 2012. In that time we have seen the industry change a great deal. We have seen a new regulator take over from the Office of Fair Trading and we are now regulated by the Financial Conduct Authority.

The Financial Conduct Authority have brought in new rules which every lender in the payday loan sector must adhere to. Those rules include a price cap, a late fee cap and a total cost of loan cap. On top of that, every lender has had to go through an authorisation process including ourselves. PiggyBank were the first conventional short term lender who were authorised by the Financial Conduct Authority.

In that time PiggyBank have continued to put customer at the heart of everything we do. Treating customers fairly was one of the main reasons that PiggyBank decided to enter into the payday loan sector back in 2012 and we are always striving to improve our customer service everyday.

But we don’t get to decide if we provide excellent customer service, our customers do and so we have decided to enter the Consumer Credit Awards 2016 for best short term loan provider.

The Consumer Credit Awards are here to help you find the best credit providers. These are the only consumer credit awards in the UK decided by YOU, not ‘industry experts’, so YOU decide who wins.

Any customer past or present can place a vote and be in with a chance to win £100. Simply visit The Consumer Credit Awards website to place your vote and you could win £100.

4 Killer Budgeting Tips

Before you can really save money, you need to learn how to control your spending. Here at PiggyBank we know all about both of these vital life skills. We love to offer tips and advice to our customers, so here we’ll show you four excellent tips that will help you to set a budget and stick to it.

Let Cash Work for You!

At the beginning of the week, draw out enough of the folding stuff to last for the whole 7 days. This will stop you from using your plastic, and you will know how much you have left at any given moment during the week. This really does work, and it’s surprising how many of us seem to forget that fact.

Lose the Bad Habits

Smoking and drinking too much alcohol is not only bad for your health but it also seriously damages your wealth. Just give up these vices for a month, and you will be amazed how much money is left over. You may be encouraged to give up for good, or at least have an incentive to cut down.

Teamwork

Budgeting alone simply doesn’t work, and the more of your household that are on your side, the better! Work out a joint budget and encourage each other to stick to the plan.

Tracking your Spending

Even if your budget is going to plan, why not take another look at your outgoings and see if there are more savings to be made?

At PiggyBank, we hope you can take advantage of these tips; remember that we are always here to give friendly advice on any aspect of your budget and finances.

Sensible spending is an approach that all of us at PiggyBank are in favour of. We are a payday loan direct lender,  and our service is designed to offer responsible lending to those who are in need of short-term loans and able to pay back within fixed and agreed repayment terms.

Switch Energy Suppliers and Save Money!

Here at PiggyBank we are always doing our best to help our valued customers save money. Whether it’s in the form of a helpful short term loan or just some friendly advice, we like to think we are there for you when you need us. In this post, we present some tips on how to save money by switching your current energy suppliers – and it is probably easier than you think!

Why Switch?

There are thousands of householders who are paying too much for their energy bills and we don’t think this is right. Why should you pay an extra £200 per year for exactly the same product?

Get Started

Go to a decent price comparison website and fill in your details; you will soon find all manner of suppliers who would love your business. Look at the options, go to the supplier website – and start looking at a plan that suits your needs.

Enjoy the Savings

Your new chosen supplier will do all of the necessary switching details, and all you need to do is sit back and count the money you are saving. You will get a final bill from your original supplier, and once this is paid, you will have no more contact with them.

Here at PiggyBank we like to think that our customers are always number one. You should never feel guilty about switching supplier; you may even switch back to your original supplier in a year or so – if they get their act together and lower their tariff considerably!

Top 3 Money Saving Tips for Families

Sometimes family life can seem like a whirlwind, and when you look at your bank statement at the end of the month you can wonder where your money went. By taking a little extra time to budget, you can save your family hundreds. You could put these savings towards whatever you want, whether it be saving for your kids’ future or splashing out on the holiday of a lifetime. Here are our top tips for saving money in your household.

Cutting that Food Budget

It is likely that food is one of your biggest outgoing costs. One of the ways this escalates quickly is through eating out. Even it is just once a week, meals away from home adds up quickly. One of the main reasons we consider getting a takeaway is that we do not have anything planned for dinner that night. This temptation can be eliminated by introducing a meal plan to your household. By planning your meals, you also reduce your food shop bill by avoiding buying things you don’t need. You can serve up a meal every evening for as little as £2 a head, which will do wonders for your bank balance by the end of the month.

Bringing down your Energy Bill

Another huge outgoing cost is utilities. You may not immediately be in the position to invest in a solar panel or waterless toilet, but there are simple, everyday actions you can be taking to reduce your energy bill. Make sure you turn off lights in rooms not being used, and do not leave the television or radio playing when no one is listening to them. Limit the time your kids spend on the computer or in front of the television; instead encourage them to read or play outside, as this is beneficial to them too. Simply cutting your shower time by a few minutes can help. These are all habits that it is important to teach your family so that everybody is on board with bringing those bills down.

Spend Less Shopping

Instead of heading to the nearest high street shop when you need something, why not consider getting it second hand instead? With the internet at our fingertips, second hand shopping through websites such as eBay has never been easier and can save you a lot of money. You also have the option of going to a charity shop, where you not only save money but give to a good cause too.

Why You Should Think Carefully Before Applying for a Payday Loan

Getting a payday loan can seem incredibly tempting
You get fast money: immediate cash to splash out on whatever you want. But there is a reason that payday loans get the bad press that they do. It is extremely easy to get caught out with loans of this type, and you could end up in serious financial trouble. You should always think through things extremely carefully before jumping in to secure your payday loan. There are two key questions that you should ask yourself.

The first of these questions is, do you really need the loan in the first place?

There are times in your life where you might need a little extra money than usual. Maybe it is the run up to Christmas, or your spouse’s birthday. Perhaps you spend a bit too much this month and need something to tie you over so you can live comfortably until your pay cheque. Rather than taking what seems the quick, easy way out and getting a payday loan, consider your other options.

If you are waiting for your pay cheque at the end of the month, budget that time carefully. Plan out your meals, petrol and other expenses and make the money you have stretch until the month is up. This might mean you need to say ‘no’ to that night out, or even to a coffee in the cafeteria. Instead, pack your own lunches in the morning and take a thermos to work. Simply by being a little more organised, you can save a huge amount of money. It might be a little extra effort, but it could save you from having to take out a loan at all. When it comes to special occasions, your spouse will understand if you delay their present until next month. There are also cheaper options like making something personal yourself. Delaying Christmas celebrations until January is another great idea as you can take advantage of the sales and get much more for your money.

The second big question you need to ask is if you can really afford a loan

Payday loans are extremely expensive. The interest rates are enormous, sometimes with an annual percentage rate of 400% or more. This can lead into a downwards spiral towards debt. Taking a payday loan out because things are tight this month will just mean that things are even tighter next month. Many people end up taking out these loans regularly, taking the new loan out to cover the old one. This is a dangerous habit that will soon lead to debt. What’s more, the payday loan company will usually have access to your bank account. If you have insufficient funds you will be facing fees from your bank too.

There are many other options to consider before taking out a payday loan. For your own protection do not make this your first port of call. One mistake could lead to debt that lasts a lifetime.

No Payday Loan? No Problem

A payday loan is a highly popular means of procuring money for a short period of time. With varying levels of proof required by different loan companies, and the generally small amounts being dealt with, payday loans are seen as a quick, easy way of getting money when you need it. However, the payday loan is not the only solution for short-term cash flow problems. In this article, we will discuss three main alternatives to payday loans: guarantor loans, using a credit card, and borrowing from one’s friends and family.

Guarantor Loans

A guarantor loan is a loan that you can procure with another person acting as your guarantor should you fail to be able to pay the loan. Essentially, you ask someone to be your guarantor. Then, you go to the guarantor loan company together. You both sign the loan agreement. Thus, if you fail to pay the loan, the company will seek out your guarantor for the balance.
The benefits of guarantor loans are that guarantor loan companies will generally accept people that would not be accepted for individual loans due to a bad credit score. On the negative side, you do have to find a guarantor first, which can be a difficult and emotional process. Your relationship with the guarantor could also suffer, should you fail to pay the loan.

Using a Credit Card

The credit card is the backbone of modern consumer lifestyle. A large portion of the economically-active population makes the majority of purchases on a negative balance on their credit card, and only zero out their account when their pay check arrives.

Using a credit card has the benefit that it is simple to do, and obtaining a credit card is not too onerous. The drawbacks of using credit for cash flow is that should you fail to pay your bills after a certain period, the bank may repossess your assets to settle your balance. This could be anything from your nice new jewellery to your house, so be careful.

Borrowing from Friends and Family

The final option is simply to borrow from friends or family. It is a humbling experience to ask those around you to lend you money. On the positive side, they will may be willing to help you out. If they do so, the conditions will generally be less intensive than a loan or a credit card. However, be wary of asking your loved ones for too much money, particularly if you ask them multiple times without paying them back. Such acts could harm your relationships with these people. They could even sue you for the money back if the situation becomes dire.

Cash flow problems are never easy to fix. There are options available to you if you cannot procure a short-term loan. These include guarantor loans, using a credit card, or borrowing from your friends and family. With each option comes its own unique pros and cons. Evaluate your situation, and select the option that is best for you.