Wagestream

[NoEffingWay]

Had anyone used Wagestream?

My work are offering it and I'm very tempted as we are going on holiday right before payday and an advance sounds very tempting. Basically I could take about 30% of my salary a few days early.

I worry that this would leave me short the next month and it would be a case of having to do it again every month which is probably not a good idea, on the other hand, not being able to afford to do anything two days before payday doesn't sound like much of a holiday!

Sounds crazy.
If you think not being able to do things for two days doesn’t sound appealing, how do you think it will feel being short for groceries even earlier before the next payday?
Why book a holiday if you are so short though?

Custody agreements and school starting a day after payday. An unexpected large bill arrived last month which has emptied my account which is a bit of a pain

Does it cost anything? What are the repayment terms - do they take it all from your next salary, or spread it over a few months?

Do you normally have a bit of slack in your budget and it's just an expensive time, or are you always struggling to make ends meet?

The risk is that you'll spend more than you can afford, because you have money available and then you'll always be behind with money. Is there any way you can make up the money you need to spend on holiday by selling something, cutting other costs/cancelling subscriptions etc, having a really frugal few weeks, where you buy minimal groceries and use up everything you have in, change your bank account for the introductory payment, etc?

They charge you to do it. Some people used it at my old job.

So if it costs money to use, best avoided. OP, do you have a credit card you can use to pay for things on holiday (being mindful not to overspend of course).

Then you won't pay any charges to spread the cost until after pay day when you'll be able to pay the bill off.

My work introduced this, kind of as something you should sign up to, to be able to see what your next wage would be. (Our old system was expiring and had been replaced with a crap payroll system and it had created many problems for many staff but that's another story) Any way wagestream Seemed good if you needed an advance on your wages but I think they charged you for it? Not sure never used it. I stopped my wagestream account the month after I started it as I didn't like the fact my wages were going through a "middleman" account. Instead of straight into my account from my employer. Also it had not done what it had been sold to do, which was show accurate pay calendars for me, so I saw no point keeping it.

I like wage stream, for emergencies only.
if you didn’t have Wagestream what would you? Can you manage with out spending.
A fella I know, he’s that far into taking money from it he has to do it every month just to keep a float.

I'm good at not doing much before payday usually! The essentials are all paid for, just want to be able to go out and do some activities with my kids.

It costs £1.75 to take the money out and it's deducted from your next salary.

@BarbaraofSeville there's usually slack in the budget but we got married last month and then the house needed something so my usually careful budgeting has been a bit squeezed!

I don't have a credit card as I prefer to use debit cards for everything.