To think park vouchers etc are a very dodgy way of saving for Christmas?

[Whoknowswhocares]

A few people have mentioned on here they plan to save for next year with one of these type of companies.

I think this is highly risky. Unlike savings in a bank, there is no safety net in place and if the company go bust, you will lose all your money. It happened to what was the biggest firm in the market only about 3-4 years ago. Most people who use these schemes are finding things tough already and cannot afford to lose their money. Please, please save your money in a bank, or even a sealed tin to break open next year

Unless iabu and the rules have changed. So am I?

Why is it a valid point? If people have saved all year for the vouchers what does it matter if you spend them all or what you spend them on? It's not like using a bloody credit card

If I had any left over vouchers from Christmas I would buy wine - which is never a waste

Many people want to save money specifically for Christmas. And so put it in a Christmas savings club. Like Park.

Gawd. Will everyone just shut up. Look, if it wasn't for Park little beauties like this wouldn't be available for you to buy. No? How about this then? :o

www.bbc.co.uk/news/uk-england-essex-14113124

www.newsrt.co.uk/news/ex-credit-union-manager-charged-with-fraud-524480.html

Some examples of fraud. I have also said that a credit union is a good way to save though!

Ok that's converted me. Vouchers for wine and a non-tat table and chair.
where do I sign up

Bogey, sorry to hear this and I hope your situation improves very soon. I am glad your Christmas was not ruined.

why is what a valid point moomin?

Actually they are restrictive those vouchers. I wasn't allowed to buy fags with them last year in WH Smith. I got 4 Chocolate Oranges instead. Every cloud and all that.

Bloody hell if you can't shop n find a bargain in this lot then you needs your eyes testing

[[
www.getpark.co.uk/COMMON/pdfs/l2s-voucher-retail-list.pdf list of shops]]

www.getpark.co.uk WhoKnowswhocares or you have the choice of Variety or Post Office Seriously though, it really can be a very good way to save and it is safe

Also, please everyone watch out for the supermarkets as they are not regulated.

zsa zsa well just like your martin comment - your two googled sites must mean its well known? deliberate spin to prove a non point.

credit unions are not well known for fraud. if they were i am sure you wouldnt advocate them as a good way to save one article from 2010

what if you miss a weeks payment? on week 26 do you lose it all or do they give you a chance? how many chances do you get?

I'm planning to keep my extremely large order of Park love to shop vouchers cos I'm dead rich really for winter coats, uniform, days out etc. They don't have a use by date on them nor do they turn into a pumpkin at midnight on Xmas eve or explode on the first of Jan at the abhorrence being used by a sale slu to buy tat.

It's just how I chose to save on portion of my money. The rest is out in my Swiss bank account and an offshore fund in the cayman islands.

and the hampers are just a rip off

It's not a valid point that people might not be as careful with vouchers as they would be with money, as it is none of your business what people choose to spend the money they have saved on.

Yeah think the hampers are a rip off tbh, it's all about the vouchers.

I dont get the "save with supermarkets" thing either! They sell food, a few toys and a shedloads of overpriced TV series boxsets at Xmas, why on earth would anyone consider getting their Xmas shopping from Tesco to be a viable alternative to buying vouchers that can be used in BHS, Toys r Us, Debenhams, Boots, M&S, WHSmith, Superdrug, Jessops, etc etc.....

But moomin we have no self control in the first place for saving this way.

The cricket club I work at has a Christmas savings club. Not once has anyone tried to make me feel bad about their boiler when I update their book. They do enjoy the free party with free entertainment and free raffle with booze, meat, toys and hampers we give away every year though.

Custardo I really don't care if I "out" myself but I work in regulation and MSE were challenged over their article regarding protection by the FSCS and refused to change same even although they knew fine well that protection had just been upped even more so than the introduction of the CPA.

Yes, I googled for some credit union stories and I can google some more. I have also stated that credit unions are a good way to save more than once on this thread though.

What I will also say about a credit union is that if it happened to go bust say the end of November, beginning of December, yes it is covered by the FSA but anyone saving their money for Christmas with a credit union which had went pop around about that time, would NOT have their money in time for Christmas. There are quite a few credit unions that have went bust!

what if you miss a weeks payment? on week 26 do you lose it all or do they give you a chance? how many chances do you get?

If you havent paid up what you ordered by the cut off date then they send you vouchers to the value of what you have saved. If you order hampers (agree, total rip off) or goods (again, rip off) then they just send you vouchers to the value of what you have paid.

None of the people I knew who all lost money from Farepak were saving for hampers, it was all vouchers. And thanks to Farepak and what happened is the reason schemes like Park are safe.

whether it's my business or not is a different point entirely , and not relevant as it is part of this discussion. if we were to extrapolate that type of thinking then mumsnet would cease to exist.

i think it is a valid point