Loans V Shop Finance, Whats Cheaper?

I am in real need of updating my white goods, recently I had to buy a new tumble dryer because mine broke and to be honest I was glad to see it go because it was one of the Hotpoint ones that could catch fire. It had been modified but I still didn't like to use it. So I bought myself a super new tumble dryer that is all digital (but it's rubbish and we can't use it) and then I had to buy a new dishwasher as ours broke. I learned from the digital tumble dryer and I just bought a basic slimline dishwasher, but now My fridge is on its way out and needs replacing so I am looking at getting a new freezer. Then this morning my toaster blew itself up! Seriously I need to get some cash together to keep buying the broken products. So I have been looking for some ways to get some quick cash.

I have been making quite a few cutbacks over the last couple of months but there still seems to be a shortfall because as soon as I get some money saved up, it goes on one of the appliances that I have had to buy. Does life ever feel like a losing battle to you too? I am sure I am one of the millions of people that get paid on a monthly basis and once your money has gone to pay bills and get a monthly food shop in, then you're skint for another month. If you're lucky, you can borrow money from the bank of Mum and Dad but for people like me, there must be other options about for me to know to help buy the things that we need.

You can, of course, go to somewhere like Brighthouse, where they sell a wide range of products and help you by collecting money weekly, it's almost like renting until it is actually yours. But they add other costs on to the product like delivery and installation. Hmmm, installation of a fridge freezer is just plugging it in. But then because you are paying weekly, it takes a very very long time to pay the item off. And although £5.25 a week does work for some families on a budget, it means that you are paying twice the amount for the product. You end up paying over £800 for a freezer that is advertised in the shop for £357.00. It is scary to think of the interest that is accruing because you are making the small payments over 156 weeks. That's 3 years! In those three years, it could well break and you might have to find yourself still paying for that item and having to get another on their finance packages. But it must work because the shop always looks busy and it means people on the poverty line can still get nice stuff for their home.

Another option is to take out a loan, I have had to do this many times over the years and I would rather do this than buy a product on finance. I bought a cooker on finance many years ago when I was starting out in my first home with my husband and it took forever to pay off and even when we could afford it, we weren't allowed to pay it off early. Quite often we all have 'cash flow' problems and we just need a short-term loan. So I have done some homework and found the exact fridge freezer as advertised in Brighthouse for £249.00 in Tesco with only £4.99 delivery. So to go to a company like Zippa Loans UK and borrow only the money that you need you will save so much money and it will cost you almost a third of the cost of buying a product on a shop finance plan. You can borrow £250, pay it back over the minimum term of 12 weeks at £29.17 a week and the total you will ever pay back is £350. That's such a difference to a payment plan of three years to pay for a product. Even if you can't afford the higher payments you can take the loan out over a longer period and will still be paying HALF of a shop finance price and it will be repaid in 32 weeks instead of 156. You can even get the cash the same day, so if you see a bargain product that you need, then you won't miss out.

I think I know which is the right way to go!

**collaborative post**