247Moneybox thoughts 001: The cost of going back to school

6 September 2016

Exams start... Now!

Photo by Ryan McGilchrist CC BY-SA 2.0, via Wikimedia Commons

Given the firm's position as one of the UK's leading online payday loan providers 247Moneybox.com have a front row seat when it comes to the seasonal demands on household finance. From Christmas to summer holidays, the cost of sending a child back to school for the start of the new academic year can be a struggle.

Barney Roberts, Customer Champion, explains the situation:

"With the average costs of sending a child back to school rising to around £200 coupled with the recent summer holidays, it's no wonder we hear our customers can feel a pinch at this time of year. Parents have had expensive few months trying to entertain and keep children occupied over the long summer break with many saying it can be one of the most expensive times of the year."

Roberts continued:

"Here at 247Moneybox.com we feel that credit provided and used responsibly can play a vital part in ensuring life stays on the straight and narrow. If traditional credit sources such as credit cards and overdrafts are not available or indeed, if the amounts offered are not suitable, then this is where alternative finance can play a role."

Having been established in 2009 the firm has certainly seen a fair few "back to school" peaks in demand and judging by Robert's comments look set to continue to provide the small loans that parents require at this time of year without requiring households to over borrow or take larger loans that they may struggle to repay.

The technology based lending outfit sees responsible lending at the heart of its business model and will continue to listen and respond to its customers.