PREPAID CARDS

Prepay Cards for New Homeowners

Brits are opting for second hand furniture following the purchase of a new home in a bid to save money new research reveals.

Millions of homeowners are looking to tighten their belts following the big Christmas spend and VAT increases by buying second hand bargains in the form of furniture, electronics, white goods and other household items.

The research by Santander Mortgages showed 28 percent of home furnishings are purchased second hand, borrowed or handed down from friends and family.

If you are looking for ways to help budget your outgoings find out how a prepay card could help.

“Furnishing a property with used items is an excellent way to save money as the premium for brand new household goods is often excessive,” said Phil Cliff, Santander Mortgages director.

“Many buyers are so focused on saving for the deposit and fees that they don’t have as much as they’d like left in the bank for furniture and furnishings.”

Only 58 percent of homeowners buy brand new furniture compared to 23 percent who even opt for second hand cutlery and crockery.

An additional 48 percent said they had bought second-hand dining room furniture while 12 percent admitted to acquiring second-hand linen.

Those in the East Midlands were found to be the most likely to accept hand-me-downs, with 39 percent of household items acquired this way.

While those living in Scotland and Northern Ireland buy the highest proportion of new furnishings, with 78 percent doing so.

How a Prepay Pay Card can help you save Money

If you are keen to keep your money in check this year try using a prepaid credit card to make your purchases with.

It helps you stay within your budget as the card user can only spend the amount they loaded onto the card, so he or she is unable to overspend or get into debt.

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