Park or similar services? Good bad and ugly?

[GiraffeObsessedBaby]

Does anyone use Park for Christmas or similar? I’ve seen them around for years obviously but just being my husband and I we’ve just ended up bankrupting ourselves each November and paying it back with January pay days - very grown up I know!

But now we’ve got little one I was wondering if the services like park are actually any good? Not for this year obviously but wondered if anyone would be able to offer me any experience/advice?

I don’t have any experience but wouldn’t touch a company like this with a barge pole. If you can I’d set up a standing order to a saving account or similar and then withdraw it for Christmas . Calculate how much you’d like to have for Christmas ( you can cut down a lot of who you buy for , eg adults with the exception of parents ) and divide it by the remaining months . Then set that amount aside on payday . Otherwise keep an eye out for bargains and use cashback websites and loyalty cards to accrue points and cashback . I recently moved my bank account to m and s and as I buy a lot of xmas food there I’m going to save the reward card for my Christmas shop . This is something you could look into .

Also if you now have a baby remember that they don’t need a room full of toys . One big present and a few well chosen gifts they will grow into are enough . A token gift for each other but only if it’s sonwthjng you need or will use . Don’t spend money for the sake of it .

I would say save money through the year so then you can use it if a good deal comes up before you get the vouchers. If you don't think you could trust yourself with cash you could buy vouchers for places you use, e.g. Amazon or lovetoshop but put them in a safe place!!!

Make the most of sales and if you have a baby buy second hand if you can. Most toys can be washed or antibacterial sprayed. Bonus is no assembling on Xmas day and no unnecessary packaging to dispose of.

In the past for my girls I've bought a big box of happyland for £5, boxed furnished sylvannian house for £6 and most recently a build a bear with outfits, shoes and skates for £10 (would have cost over £60 In store, I always buy them one on birthdays so saved me a lot!)

I have saved with Park this year and had no problems at all, money comes out direct debit, I can change the amount at any time on my online account (which I did in June as felt I had saved enough really, just saving £10pm now). Lots of options to choose from including which month to receive your cards/vouchers etc. My friend has been doing this for years, seeing her happily spending her Christmas money while I scraped a few presents together is what made me think about it. Its a great feeling knowing I don't have to worry about finding money for Christmas this year!

Should maybe add we have 3dc aged between 1 and 8 so costs us a fortune usually

I've never used them but save money instead. It makes me nervous putting money on vouchers as if the retailer goes under they don't accept them. Also park etc take a cut I believe so a standing order into another account you would get more for your money and ultimately freedom on where and when to spend it. If it's burning a metaphorical hole in your pocket put the card in a safe place at home not in your purse etc. Or an account with no card so you would have to wait for transfer

One of these scheme went bust a few years back. All their customers lost their money.

Trytowin I've saved with Park for years and they don't take a cut. In fact I usually get around £40 in vouchers as commission and that's just for my order. You can also get it in a cheque, off your final total or save towards next year for double the amount. Park make their money on the horrifically over priced hampers, gifts, tacky furniture and toys.

Also Park is part of the CPA and customers money is ringfenced.

No I wouldn't.

Why limit yourself to spending vouchers?

Set up a savings account at the bank instead.

Every time I tried saving cash something would come up and I would need to use it. Even though in theory I could refund my park vouchers and get my money back I never would. Also they make great gifts and never go to waste. When they arrive (usually November) it's like a mini early Christmas day for me.

xFreePeaceSweetx if something came up and your money was tied up in Park, then how would you pay for the stuff that needs doing?

You must be finding the money somehow.

I did it one year and found it very useful indeed. I got a combination of shopping and amazon vouchers. You get full value. They make their money through bulk buying the vouchers at discount. I found it dead easy.
I think i didnt bother the following year because they stopped doing amazon vouchers. This was a few years ago so might have started up again

Speakout I do find the money I just don't touch my voucher money. If I'd only saved cash then I possibly wouldn't have any left for Christmas. Tbh dh wasn't convinced to begin with but he admitted after Christmas the first year it was nice not having to worry about the credit card/overdraft etc. I know its not for everyone but it really is the only way some can save.

AJP you can get Amazon vouchers as part of Love2Shop bundles. I'm getting some along with Primark vouchers.

The main (only) advantage of using Park is that you cannot raid the savings at any other time.

But if you don't require that imposed discipline to keep your savings intact for Christmas, you may get better rates from a straightforward savings account.

So it's really just a self discipline thing?
Being unable to save effectively at a bank?

I've used Park for years. Like other posters I change the amount through the year, you can make the last payment in September, October or November. I do mine in October and get my vouchers in November. I found when I was setting up standing orders to a savings account that I always ended up dipping into it.

I use my local credit union they have a Christmas scheme, dd each month and you can’t access the money until November works for me.

speakout if it's not for you then it's not for you. People are saving for Christmas in a way that is manageable for them. I'd say budgeting to save (in anyway you like) shows self discipline.

Um I do have self discipline. I manage my limited amount of money in a way that suits my circumstances. Some (not all) of my cash goes towards vouchers the rest in savings. honestly brick wall meet my head

Sweet Jesus. You manage to save for Christmas every year?! You undisciplined numpty.

I have saved with Park for a number of years now. It works for me. I am very disciplined when it comes to allocating money each month into my savings accounts, but I prefer to save for Christmas in this way.

I like the fact that by Oct Christmas is paid for, my vouchers and cards arrive for November and I do not have to worry about how Christmas will be funded.

I pay monthly by direct debit and I have always received excellent customer service from Park.

However I would never buy the hampers, toys or gifts they offer because they are not good value for money and you can buy these items cheaper elsewhere.

London my dd saw a treat hamper in the catalogue (I don't get the catalogue anymore so a few years ago) and she begged me to get it. So I ordered it but I saw an fb post that said all the goodies were treat sized. It pissed me off that you can no longer buy selection boxes that are full sized versions. Anyway I cancelled it and made my own. For the price of one I was also able to make another 2 for my nieces and nephews. Also the perfume is extortionate. Armani diamonds is nearly £60. You can use your vouchers in Boots and get it for half that. Ooh and you get that voucher that gives you an extra 500 points if you spend it in Boots.

Like @Newjobnewstart I use my local credit union christmas account, I also have a regular saver account that I can withdraw from if needed up to 6 times a year.