Useful things you can do
Here are a few general hints and tips about money matters and using credit, to help you get started on a plan of action. There are lots of ways to make the most of your time and money.
-
Mindful spending
How to make great decisions
-
Have a plan
Let’s set some helpful goals
-
Shop smarter and greener
Clever ideas for you and the planet
-
About your credit score
How it works and why it’s important
Mindful spending
Sometimes managing your finances can feel overwhelming but you can take back control just through some simple planning and spending more consciously.
Keeping on top of things
Make a note of all the things that you know will come out each month and subtract this amount from your income (the amount of money you receive each month or week). That will give you a figure that you know you can use for life’s little extras, and you won’t find yourself being surprised by how much or little you’ve got left in the bank. It’s often shocking how the little things add up.
Be a budget boss
You don’t need to be a whiz with Excel, or even own a computer to make a budget. You could use a personal finance or money management app or buy a notebook and write it all down, whatever works for you. The main thing is that you know what’s coming in, and what’s going out and can see where your money could be saved.
Set up separate pots in your online banking if this is a feature, or you could open a savings account and set up a standing order to make a regular payment, however small to it each month.
Go back to using good old-fashioned cash rather than your card for your everyday bits, your top up shops, lunches, drinks and travel costs. It can really help to see and feel what you have left.
Think it over
We all love the buzz of a new purchase, that little pick-me-up or treat that can brighten our day. But always be careful that you aren’t just buying things for the sake of it. Ask yourself if you really need it, are you going to use it or will it just get relegated to the back of the cupboard. Saving a product to come back to later, rather than ordering on impulse can give you time to consider whether it’s right for you and whether you really need it.
Clever spending all year round
It’s always someone’s birthday, so get ahead and order cards in bulk or buy a load when there’s an offer on. Look out for deals and discounts during the year and avoid last minute panics to spend less and feel a bit smug too! For the bigger birthdays, weddings, and whatever else needs something special, you can pay for more expensive gifts over a few months and pay it off a bit at a time instead of all-in-one go.
Better to be safe
It’s always a good idea to check the protection you have and make sure your insurance policies are up to date, so if anything does go wrong, you’ll be covered in a crisis.
Buy Now Pay Later doesn’t mean Buy Now Pay Never
Whether you use Buy Now Pay Later with us, or elsewhere, these payment options are a great way to split the cost of bigger orders into more affordable chunks over a longer period. You can pay them off along the way to fit around your other outgoings.
Whenever you use Buy Now Pay Later to purchase something, make sure you know how and when you’ll be able to pay for it, and it’s always good to pay a day or two before the final date just in case your WIFI lets you down at the last minute or something crops up and you forget.
Have a plan
Life’s for living, and some simple steps now, will help make memories in the future.
Keep it real
Make sure your goals are realistic and manageable, start small and work your way up so you don’t end up getting stressed.
For now, and later
Some goals will take longer to achieve and are a way off in the future, like saving a deposit for a house or getting the funds for that new fitted kitchen. It’s good to have some shorter-term goals too, like saving a bit each month to buy yourself something you’ve wanted for a long time, so it feels like a treat.
Don’t let it get you down
Always consider rising inflation when you’re planning to save up and buy something and allow a little extra for prices going up.
Give yourself space
It’s ok if your goals don’t always go to plan – that’s life. Just take stock and keep going, you’ll get there in the end.
Be a savvy shopper
Food shopping can be a huge weekly expense, but it doesn’t have to be. Make and stick to a shopping list to avoid temptation or do it online and stop the kids adding little extras into the trolley! Look out for some decent online discounts and shop around to use them before they expire.
Sensible saving
Put as much as you can afford away each week or month, so you’ve got a little pot to dip into in case of emergencies. Challenge yourself to have some ‘no spend’ days each week and put it away instead.
Delve into your Direct Debits
It’s a good idea to check your Direct Debits every now and again to make sure you’re not paying for something you no longer need or use. Check with your Wi-Fi or phone provider to see if you can get a cheaper deal to help reduce your bill. If you’re out of contract soon, ‘SIM only’ deals are a great way to reduce your bill if you’re happy to keep your current phone.
Check what you’re entitled to
It’s worth having a look on the http://Gov.uk site to see if there are any extra payments that you’re entitled to that you may not have thought of.
Shop smarter and greener
We all know we need to do more to help protect our planet, so here are a few ideas that’ll help your money go further AND be eco-friendly at the same time.
Resell, recycle, reduce
It’s never been easier to sell your unwanted things online, so you can refresh and renew your home and wardrobe with a couple of clicks. And it’s never been cooler to buy pre-loved and vintage so you can do you.
Give your clothes a second life by selling them online, and on the high street too, with offers for money back when you recycle your unwanted stuff – anything from returning your empties to your old bra!
Not only is it money off something else you need, but it all helps to reduce waste and landfill. Trade-ins on your old tech are a great way to save money when you need to replace or upgrade your next phone, tablet or laptop.
Make do and mend
Breathe life back into clothes and household objects with a quick repair, or a total facelift. With some inspo from Pinterest or Insta, some skills and know-how from YouTube, anyone can make the most out of what they have.
From re-covering a stool with some fab fabric, cutting the bottom off some jeans, or the waistband off an old sweatshirt, or getting the bobbles off your favourite (and very tired looking) jumper, you can fall back in love with your stuff, and enjoy it for longer.
Think about how you can reuse and recycle things you already have, and only buy it if you really need it or you’re going to get some definite use out of it. Once you start changing the way you shop, these saved pennies will soon add up and you’ll see a difference!
Seen it? Want it? Do it!
It’s never been easier to have a go yourself. Recreate your favourite looks for a fraction of the price by buying lookalike goods and copy colour combos you’d never have thought of yourself, to create designer looks in a weekend.
About your credit score
We think your credit score is really important, so here are some ways you could keep it healthy and in check.
What is a credit score?
Credit reference agencies store data from credit providers and then turn that data into a credit score. The data may come from banks, loan providers, credit card providers, or other companies that allow people to borrow from them. And because it includes borrowing of any kind, car finance, mobile phone contracts, or utility bills may also be included.
There are three main credit reference agencies in the UK - Equifax, Experian and TransUnion. All three can provide you with your credit score, and you can also request a copy of your credit file so that you can see the full report.
What is a credit check?
This is when a company looks at your credit report to see your financial history and checks whether you’ll be able to repay money you want to borrow. We check more than 3 million credit applications every year and we only accept customers that we think can keep up with their repayments.
Before making a credit check, make sure you’re on the electoral roll – this is really important if you’ve moved house recently and may help to improve your credit score.
What is a soft credit search?
A soft credit search is a search that can be carried out on your credit file that other lenders won’t be able to see. If you apply to open a Littlewoods account with us, we’ll carry out a soft search on your credit file to see what you can afford, and you’ll see what your personal interest rate and credit limit is likely to be. The search will only be visible to you and us - no other lender can see it and it won’t harm your credit.
How is my credit score worked out?
It’s based on a few things, like how much borrowing you’ve done in the past, your current credit limits and how successful you’ve been at paying things back.
Why does it matter?
Depending on your credit score you might find that you are not able to access financial products or that you’re given a higher interest rate. That’s why we think it’s important to try and keep your credit score healthy.
How do I improve it?
Just by being careful and making sure that anything you borrow is paid back on time and as agreed with your financial lender. Make sure anyone you’re living with isn’t negatively impacting your score - having a joint account, joint mortgage or join loan with someone with a poor credit history can negatively impact you too.
Check you’re on the Electoral Roll and pay your utility bills on time. If you’re sharing your bills with a house share or partner, it can help to divide them up between you.
How do I find out my credit score?
There are a few main credit reference agencies that it’s worth taking the time to check in with, it’s a bit like doing a health check but for your money. Experian, Equifax and TransUnion will be able to help you, you’ll just need to answer a few questions.
Getting the most out of your Littlewoods Account
Right now, it can be tough to manage everything in the household, so we’ve put together some useful tips and tricks to manage your Littlewoods account.
Everything is available interest free for 20 weeks. You can also spread the cost over 52 weeks interest free on items £250 or more.
There’s even options to spread the cost interest free for 2 & 4 years on selected products too.
BNPL is great for unexpected purchases you need right away but get more time to pay. If you’re eligible and offered Buy Now Pay Later, don’t forget to pay off as much as you can afford during the delayed payment period. This will reduce the amount of interest due or avoid interest completely by paying off the cash price in full by the end of the delayed payment period.
Make sure you keep track of your purchases and upcoming payments using your statement which you’ll be sent every 28 days. You can use the Transactions & Statements section of My Account to keep track of your account at any time.
Make your money go further by keeping an eye out for deals, discounts, voucher, and promo codes. We update these all the time, so it’s worth checking regularly.
Did you know?
With Littlewoods, you’ll always have at least 20 days to pay after your statement is produced.
You can ask us to review your credit limit at any time to a level you’re comfortable with. Whether you’d like it increasing or reducing just go into My Account any time.
Pay as much towards your account as you like as long as you pay at least the minimum payment, each month.
Set up a Direct Debit so you never forget to make a payment. You can choose from a minimum payment or full payment Direct Debit.
At Littlewoods, standard delivery and returns are always free.
You don’t have to open a credit account to shop at Littlewoods, however a Littlewoods account allows you to spread the cost and pay it later.
It’s ok to ask for help
Life is full of bumps and sometimes it’s just not possible to fix things on your own. That’s ok. You should always reach out and speak to us if you’ve run into difficulties. Whatever the situation please get in touch. We’ll do everything we can to help. Everything you tell us will be in complete confidence and will only be used to service your account.
Talk to us about...
-
Financial difficulties
-
A life event
-
Mental health concerns
-
Reducing your balance
-
Security or fraud worries
-
Serious or long term illness/disability
-
Nominating someone to manage your account
-
Loan Sharks
-
Benefits calculator
Tell us about financial difficulties
Everyone can have problems from time to time and we can help you come up with a plan to manage your account. We may be able to set up an affordable repayment arrangement to get you back on track and stop administration fees, further interest and late or missed payment fees being applied to your account.
When you contact us we’ll ask you some questions about your circumstances and income and outgoings to find out the best way to help you.
If you feel like you’re struggling with multiple debts or can’t meet your priority bills, Step Change Debt Charity offer free, impartial and confidential advice over the phone.
MoneyHelper
Money Helper also offer free debt advice and money guidance, and you may find it beneficial to use their debt advice tool online. This will give you options of telephone, face-to-face and online debt advice.
There are times where it can be helpful to tell us about your situation if it affects how you manage your Littlewoods account.
If you're experiencing an unexpected life event, like losing your home or job, or you're going through a separation or divorce, or have lost someone close, please tell us more about how we can help.
We’ll use this information to change the way we support you. This might include:
Connecting you to our financial difficulties team
Offering helpful services such as authorising a trusted friend or family member to help you manage your account
Simply taking the time to listen and understand your circumstances and offering you more tailored support from our specialist team if required
Letting you know about charities and organisations that can help you
Everything you tell us is in complete confidence and will be used to support you in the best way possible. We won’t capture anything you disclose to us on your account without your permission and it will only be used to help service your account. You should only need to tell us once and we’ll do our best to support your needs.
If you are going through a difficult time, Samaritans are a free listening service available 24 hours a day - Visit Samaritans
Tell us about mental health concerns
There are times where it can be helpful to tell us about your situation if it affects how you manage your Littlewoods account or how you communicate with us.
If your mental health is impacting how you manage your account, please tell us more about how we can help you. You should only need to tell us once and we’ll do our best to support your needs.
We’ll use this information to change the way we support you. This might include:
Changing how we communicate with you
Offering helpful services such as authorising a trusted friend or family member to help you manage your account
Simply ensuring we take the time to listen and help you fully understand information
We may offer tailored support from our specialist team if required which can include several adjustments to support your needs
Let you know about charities and organisations that can help you
When you get in touch, you’ll speak with one of our helpful advisors. They’ll listen to you, talk through your concerns and look at how we could assist you. Everything you tell us is in complete confidence and will only be used to help service your account. We won’t capture anything you disclose to us on your account without your permission.
If you are going through a difficult time, Samaritans are a free listening service available 24 hours a day - Visit Samaritans
Let's work this out together
If you’re worried about your Littlewoods account balance you might want to consider paying a bit more each month, remember you can pay as much toward your account as you like as long as you pay at least the minimum payment, each month.
Tip – If you have items that are within their delayed payment period on Buy Now Pay Later, you can avoid paying all interest for delayed and repayment periods by paying the cash price before the end of the delayed payment period. This can be done in one full payment or multiple partial payments. Even if you can’t settle in full, making partial payments will still result in a portion of the interest being refunded at the end of the delayed payment period.
Scams come in all shapes and sizes, from dodgy emails to fake sites. And they keep changing to try and trick you. Stay one step ahead by learning about the latest scams.
If we identify suspicious activity we may lock your account and send you an email telling you what to do next.
If you have received a notification email advising that a ‘forgotten password’ has been requested and it’s not you that has attempted to log into your account, please contact us immediately and our fraud team will assist you.
Identity theft is where someone has obtained your personal details without prior knowledge or consent, with intent to obtain goods and services in your name. It is one of the fastest growing crimes in the UK and anyone is at risk.
If you feel you have been a victim of identity theft, you can call us, click here for details, alternatively you can contact us via secure webmail, in My Account.
Talk to us about serious or long-term illness or a disability.
There are times when it can be helpful to tell us about a situation if it affects how you manage your Littlewoods account.
If you’re suffering from a serious or long-term illness or have additional support needs due to a disability, please tell us more about how we can help.
We may be able to offer alternative options for delivery and collections, like arranging to collect your returns from you at home via Royal Mail.
Offering helpful services such as authorising a trusted friend or family member to help you manage your account
Simply ensuring we take the time to listen and help you fully understand information
We may offer tailored support from our specialist team if required which can include several adjustments to support your needs
Let you know about charities and organisations that can help you
Everything you tell us is in complete confidence and will be used to support you in the best way possible. We won’t capture anything you disclose to us on your account without your permission and it will only be used to help service your account. You should only need to tell us once and we’ll do our best to support your needs.
If you’d like someone to communicate with us on your behalf, or if you need help with your account management for a while, for example if you’re going into hospital, you can ask for ‘third party access’. This means letting a friend or family member you trust help manage your account.
There are a range of options for you to choose from depending on the kind of support you need:
To nominate someone you trust:
Your third party will need to be over the age of 18 and a UK resident
You will need to contact us to request a Third Party Authority Form (3TPA)
We will send you a form to complete with details of your chosen third party
You will need to complete and return this form to using our pre-paid postage
We’ll add your chosen person to your account as an 'authorised third party'
They can discuss and manage your account on your behalf after an identification and verification check
Please note, if you add third party access to your account, you're still responsible for anything your chosen person does with it.
Third party access is just one of the ways we may be able to help you if you're worried about looking after your account now or in the future.
There are other types of access you can organise:
Power of Attorney/ Deputy Court Order
You or your Power of Attorney will need to send your documentation to us at:
Shop Direct Finance Company Limited
Sandringham House
Sandringham Avenue
Chelmsford,
CM92 1LH
We’ll use this to update your account to allow the relevant third-party access.
If you’re experiencing a situation that’s affecting the way you manage your account, it can be helpful to tell us so you don’t need to repeat yourself every time you speak to us. You can do this by contacting us and speaking to one of our friendly advisors.
What is a loan shark?
A loan shark is someone who lends money illegally. They often charge high interest rates and may use violence or intimidation if you don’t pay them back.
If you’ve borrowed money from a loan shark or are worried about someone else, help is available. You can report a loan shark in strict confidence by visiting Stop Loan Sharks.
If you’ve been threatened by a loan shark or are at risk of harm, contact the police straight away.
How do loan sharks operate?
Loan sharks are not regulated or authorised by the Financial Conduct Authority (FCA). Instead, they operate outside of the law – offering cash loans with extremely high interest rates, with no paperwork or clear repayment terms.
Loan sharks tend to target those in financial difficulty. When you struggle to repay the loan, they may use threatening behaviour and pressure you into borrowing more from them to repay one debt with another.
Even if you borrow a small amount, dealing with a loan shark can quickly spiral out of control where you end up owing them a lot of money.
How to spot a loan shark
Spotting a loan shark is not always easy. They can seem friendly and supportive at first, to lure you into a false sense of security. They could even be a family member or friend.
Loan sharks typically:
Offer cash loans but some may operate online too
Add extremely high amounts of interest to your loan
Do not provide any paperwork or clear information, such as the repayment terms
Offer to lend you money with no credit checks or affordability assessments
Take your valuables as a ‘security’ on the loan, including your passport and bank cards
Use threats or force until you repay the loan
Pressure you into borrowing more money, so you remain in debt to them
Some loan sharks pretend to be doorstop or payday lenders – offering short-term loans for small sums of money. However, these lenders need to be authorised by the FCA.
Be cautious of anyone who approaches you and offers you a loan, especially if you haven’t known them for very long.
How to check if a lender is authorised
To be able to lend money legally in the UK, lenders need to be authorised and regulated by the FCA. This is to protect you and your money.
It’s important to always check if a lender is listed on the Financial Services register, and they are who they say they are.
What to do if you’ve borrowed money from a loan shark
Roughly 1.08 million people in England are estimated to owe money to illegal money lenders.
Stop Loan Sharks will help you get safely away from loan sharks. You can call them or complete an online form to report a loan shark in strict confidence.
Remember, it’s not illegal to borrow this money – it’s the illegal lender who’s breaking the law. You don’t need to worry about getting into trouble with the police if you report it.
Stop Loan Sharks has a helpline you can call anytime for confidential advice and support, as well as a Live Chat.
For more information, visit Stop Loan Sharks: Worried about someone else.
Help with money worries and debt
If you (or someone you know) is anxious about money or feel overwhelmed with debt – there’s help available. StepChange and National Debtline provide free advice and support to help you tackle your debt.
Billions of pounds of government benefits and allowances are going unclaimed every year.
Using a benefits calculator will help you find out what you could be entitled to – its free to use and the details you provide are anonymous. Try the Benefits Calculator (Gov.uk recommended website)