Enjoy Laybuy Responsibly
It’s the little things that make life fun. A new outfit, a spontaneous getaway, the latest gadget... With Laybuy, you can enjoy life’s little pleasures (and also take care of the bigger not-so-fun bills) without worrying about confusing contracts, upfront fees, interest or getting into unmanageable debt. Plus, you can start building some good credit history too.
Laybuy enables customers to spread out payments over six budget-friendly weeks, with the intention of living within your means. We thought we’d share a few tips which could help you enjoy Laybuy responsibly:
- Create a simple budget: This should cover all your basic day to day expenses such as rent, food, any student loan costs, transport and a portion for savings. Google ‘budget template’ to get you started. Once completed, you should have a good idea of what you can afford to spend on the fun things in life. Before that big purchase though, consider whether it will compromise your ability to meet all your financial commitments, not just your Laybuy payments.
- Plan ahead: Choose your payment day carefully. Choosing a day when you know you’ll have money available will offset the chance of being caught out with insufficient funds and incurring late payment fees.
- Boost your credit rating: Unlike some traditional credit providers, Laybuy makes it easy to pay and doesn’t want customers defaulting on payments. It’s important to know that missing payments can also negatively affect your credit score which can impact your short and long-term life goals. It really is in your best interest (and ours) for you to pay on time, every time. Plus, if you establish a successful payment history, we may revise your limit over time.
- Choose the debit route: While you’re welcome to link payments to your credit card, using a debit card for your Laybuy payments means you’re paying for purchases with money you have. If you use a credit card, there is a risk it simply delays payment and you could end up paying interest.
- Keep track of your spend: The more purchases you make, the more payments you’ll need to manage. Happily, it’s easy to stay on top of things with the help of your handy Laybuy dashboard which enables you to view multiple payments at once, among other helpful features.
While it’s great to be able to buy what you want, we know that sometimes a situation might come up which might cause a payment to be missed. If you think this is going to happen, please get in touch with us at here before your payment due date and we’ll see if it’s possible to work something out. See our ‘FAQ’ page which includes information about late fees for a missed payment.
If you feel like your payment problems go beyond a one-off missed payment and would like to talk to someone regarding a money problem, you can get free, confidential financial advice from ‘Fin Cap or ‘Citizens Advice Bureau.