Conversation Society, News and Sport
Helper icon Helpers: Chris2mates , LLstill , PrincessFruitBat


About us

Midsummer's Eve is a free online dating community - based around friendship, real meetups, real people, and real relationships. We've been online since 1999 and have twice won Radio 2's Web Site of the Day award. So why not join us for free and join in the discussion?

Would you trust a Christmas Club?

Have you ever saved with one?

Male
tumbled  Male  Gloucestershire
23-May-2020 07:47 Message #4780612
Sorry to ..mention the dreaded word........trust....no, I mean Christmas...

It was in our local news that a landlady at a pub has stolen £70,000 from the Christmas club money she was collecting from customers....

70 grand......

Pub regulars have spoken of their anger towards the woman who stole tens of thousands of pounds that belonged to them.

One said Sally Johnstone was “evil and devious” for having stolen over £70,000 from more than 50 people who put money into the Kings Arms’ Christmas savings fund.Johnstone has admitted taking the money, which was collected at the pub in Gloucester Road, Cheltenham, between 2017 and 2019, when she was its landlady.

She was bailed until June 9 after pleading guilty at Gloucester Crown Court last week, with Judge Ian Lawrie QC warning her that she faced going to prison.


The main claim to fame of Christmas club money theft that I recall was on Eastenders....when Arthur Fowler stole the money and then had a breakdown when he got found out.....There was a scene, where he won an acting award....for the unshaved 'breakdown' look....and sweeping everything off the table and mantlepiece whilst having his breakdown....

Anyway....Have you any experiences of Christmas club saving....Good or bad....

70 Grand seems rather a lot.....although there were 50 people in it.....but still....I don't think I would try saving that way.....
Female
Victoriana11  Female  Buckinghamshire
23-May-2020 08:12 Message #4780616
I would never join a so called Christmas club. If I wanted to save for anything, I am quite capable of doing it off my own back. I would never trust anyone else with my own money, its bad enough having to use the banks. I remember Northern Rock & one or two other companies..... Metro Bank is not looking good either.
Female
wonderoushen  Female  Gwynedd
23-May-2020 09:45 Message #4780631
I've never used christmas clubs either, it seems you get hampers full of stuff that will sit in the cupboard until next xmas, it all looks very old fashioned, tinned ham and stuff I remember from childhood. I've never bought savings stamps from shops either, although I do have fond memories of greenshield stamps.
Male
RobM  Male  Essex
23-May-2020 09:57 Message #4780635
No, never used one. Better to set up a regular savings account with a bank that has FSCS backing not difficult.

I hadn't heard about Metro bank being in trouble.

RbP
Male
BOYDEL  Male  Surrey
23-May-2020 09:57 Message #4780636
I recall many years ago being tempted by a Christmas Club with a local Newsagent where they paid interest tax free which made it more competitive than the Banks/B Socs.

Having toyed briefly with the idea ( I had planned to transfer a chunky lump sum) I decided that greed for a slightly higher net return was no way worth the risk of potentially losing the capital.
Male
persona_non_grata  Male  North London
23-May-2020 11:12 Message #4780651
When I was first starting a family we did save with one and it worked out well but it wasn't unusual for these clubs to have problems paying out and a lot of people did lose money. It was an era when very few people had any money and definitely had no savings. Money in the gas meter, most shops gave "tick" and so did many pubs. Almost everything purchased was from a catalogue.
There is a lot more money around these days so saving/buying through these schemes isn't so popular.
Male
Hierophant  Male  East Anglia
23-May-2020 11:22 Message #4780652
Not much of a Christmas club if it was running between 2017 and 2019 and hadn't payed out to anybody in all that time. lol
With money so readily available these days I doubt many people put a bit away for Christmas anymore, they just bung it all on the credit card....
Male
BOYDEL  Male  Surrey
23-May-2020 11:35 Message #4780657
You often read stories about benefit families spending say £2000 via credit cards on toys for the kids at Christmas.
Male
FirmButFair-TrollPatrol  Male  North Yorkshire
23-May-2020 18:30 Message #4780739
To a lot of people spending on a credit card isn't the same as actually spending money.
Male
BOYDEL  Male  Surrey
23-May-2020 18:57 Message #4780744
Yes the "flexible friend" does allow you to spend around 40 times the minimum monthly payment - though if you have a poor credit record and can only get a card with a high interest rate it can literally take decades to repay a debt if only making the minimum payment.

Sadly that means a poorer future.
Female
Topaz53  Female  Northamptonshire
23-May-2020 19:52 Message #4780753
Dangerous and financially abusive for vulnerable people that are easily swayed.
Male
Colonel_Blink  Male  Buckinghamshire
23-May-2020 23:03 Message #4780781
It is very easy to overspend and modern technology has made it easier than ever and encourage bad debts.
Male
The_Snow_Covered_Fool  Male  Cheshire
24-May-2020 06:59 Message #4780796
I've always used credit unions to save.



Chris.
Male
HotOrWot  Male  Lancashire
24-May-2020 08:09 Message #4780800
70 grand from around 50 people. It must be a push area.

Male
tumbled  Male  Gloucestershire
24-May-2020 08:34 Message #4780809
It doesn't seem very posh around there.....

Arthur Fowler only nicked a few hundred I think.....Mind you....that was Walford and in the 80's.....
Male
BOYDEL  Male  Surrey
24-May-2020 09:27 Message #4780826
Yes Topaz - the modern world is a minefield for anyone who lacks numeracy.
Female
RoseyCheeks  Female  Nottinghamshire
24-May-2020 10:44 Message #4780843
I don't understand why people do it either. It's like vouchers, they're never going to be better than having the cash to spend wherever you want. So easy to have a standing order going out to a savings accounts or Premium Bonds that you set up and forget until you need it and at no risk to yourself.
Male
Wandering4fun  Male  North Yorkshire
24-May-2020 14:10 Message #4780879
I only just trust the bank with my money so never trust anyone else.
Male
HotOrWot  Male  Lancashire
24-May-2020 22:06 Message #4780953
I only trust the banks because of government guarantees.
Male
RCD  Male  Greater Manchester
26-May-2020 14:31 Message #4781170
Was she related to Arthur Fowler?


 Back to top

 Help with conversations