At LiveWest, we want to support you to feel confident and in control this Christmas. Read on for helpful advice on staying scam-aware, using Buy Now, Pay Later safely, and how Westcountry Savings and Loans can offer responsible financial support.
Spotting Scams This Season
Sadly, Christmas is also a time when scammers become more active. With scams getting harder to spot, it’s important to stay aware and take a moment to think before acting.
Common red flags to watch out for:
- Unexpected offers or prizes
- Being asked to pay in unusual ways
- ‘Too good to be true’ savings
- Current events used as bait
If something doesn’t feel right, double-check before you respond. You can find more information on our Rent and Direct debit scams article.
The Risks of Buy Now, Pay Later
As the festive shopping begins, Buy Now, Pay Later (BNPL) services like Klarna, Clearpay and PayPal Credit can seem like an easy way to spread the cost. While they can be helpful in the short term, it’s important to remember that BNPL is real borrowing
Before you click, think about:
- Late fees – Missing payments can lead to charges starting at around £5 and rising to as much as 25% of the item’s value.
- Your credit score – Some providers may report missed payments to credit reference agencies.
- Overspending – Because BNPL is quick and convenient, it’s easy to take out multiple plans without realising how much they add up to.
- Limited protection – BNPL doesn’t always offer the same consumer protections you get with credit cards.
To limit of the risks of Buy Now Pay Later, keep control by tracking your spending, planning ahead with regular savings, and pausing before buying non-essential items.
Westcountry Savings and Loans
We’re proud to work closely with Westcountry Savings and Loans, a local, ethical credit union offering responsible options for borrowing and saving. As a LiveWest customer, you can access their information, education and support to help you feel more confident with your finances.
They review every application individually, offering loans from £100 to £15,000. If you're looking for ways to save, manage your budgeting, or explore affordable credit, they’re a great place to start.