Feeling The Pinch? How To Combat The January Squeeze

For people across the UK, January is recognised as being the ‘longest month’ of the year, with many receiving an early payslip in December, combined with the January sales and overspending during the festive period, the first month of the year is tough for many.

Taking into account the annual financial pressures, research released by the UK’s number one retailer of second-hand goods, Cash Converters has uncovered that one in three UK consumers are sitting on unwanted Christmas presents that they will never use.

The research also discovered that there is still more than £200 of unwanted items sitting in people’s homes that could be earning instant cash. The average UK family is expected to have spent more than £500 on Christmas. The retailer, which has more than 220 stores across the UK, is encouraging consumers to have a look in their attics, in the garage and spare rooms to see if there are unused, unwanted items that could be sold to help get through the last few days of the month.

David Patrick, Chief Executive of Cash Converters, said: “For many people January is financially a very tight month, there is a need to consider alternative solutions to help make your finances stretch. Unwanted Christmas presents, that can’t be returned to shops where they were bought, can be sold to one of our stores. I am also shocked to learn that despite the huge popularity in selling unwanted goods to second hand retailers or online there is still more than £200 sitting un-tapped in homes across the UK.

“Many people are surprised by the range of items we buy from our customers. People come in with bicycles, games consoles, iPads, mobile phones, laptops, DVDs, golf clubs, televisions, musical instruments, jewellery and video games, to name but a few.

“Our buyback scheme is also very popular. If you are unsure whether you want to sell your goods, but you need instant cash, then pop in to one of our stores with some up to date identification and we will agree a price, give you cash and place the items in secure storage, guaranteeing you the right to buy them back from us within 28 days. This is great if you are unsure if the item is something you can’t do without.”

Cash Converters also has a well-established personal finance service across its stores and prides itself on responsible lending. As well as Buybacks, the retailer also offers pawnbroking, cheque cashing and laybys.

Patrick continued: “Pawnbroking is another great service if you need instant cash. Simply bring in your gold, platinum, diamond or antique jewellery and we'll give you an instant cash loan against your items.

“We have witnessed a shift in how people view their unwanted goods, the British tradition of keeping hold of things ‘just in case’ has moved on, people are becoming more aware of how easy it is to get instant cash for their household items, releasing funds which are essential for this time of year. “