Planning a successful D-I-Y Project

More of us than ever are spending our lockdown time tackling those Do-it-Yourself projects that we’ve been thinking about for long enough.

Whether you’re a complete beginner or a seasoned Do-it-Yourselfer, it can be hugely satisfying to enjoy the results of your handiwork.  Often it can be a great way to save some money as well.

Always keen to help our members to make the most of their money, we’ve put together some top tips to help you to make a success of your project:

Get inspired!

Think about what you are hoping to achieve.   What is your project for?   Do you want to add colour or warmth to your drab living room?   Maybe you’re aiming to make life easier by rearranging your kitchen?  Making extra wardrobe space for your clothes?  Or modernising your bathroom fittings?   Whatever you have in mind, Pinterest or Instagram are good places to look for ideas and inspiration.

Do your research

Before tackling any project, you should take time to gather as much information as possible about it. Read, research and watch tutorials to be better prepared. Look around and see if anyone you know has done anything similar.  If they are enjoying their finished work, they may be happy to share some tips about their experience. 

Set an overall budget for your project

Think how much you can afford.  It’s important not to overstretch yourself, as your enjoyment will be short lived if you end up with huge unexpected bills.  Or if you have to leave it unfinished because you run out of money.   Shop around – look on the internet to get an idea how much things cost and compare different suppliers. Try to cost the whole project out, so that there will be no surprises, before you start buying.   Perhaps a Credit Union Loan could help you by spreading the cost over a reasonable period?

Divide your project into stages

Dividing your DIY work into stages may help you to decide what needs to be done first and how much time you have to do it.  If you are working on a tight budget, it could also help you decide on your priorities.  Working in stages with clear time allocations gives you focus and discipline, aiding you to complete your project in ideal time.  You may need someone to help you with certain tasks, so plan ahead to make sure they’ll be available at the vital time.

Buy some decent tools

You’ll most likely need to buy some tools or equipment.  Don’t necessarily go for the cheapest you can find, as they may not perform to your expectations.  If you are new to DIY, then simple, easy to use tools could be best.   And it might not be such a good idea to use Grandad’s 100 year old tool kit!   The tools may look strong and sturdy but are probably worn and not as sharp or effective as a new set.

Learn how to use your tools and equipment

Be sure to follow the instruction guides, as they contain sound advice on safety and good practice.  For many items, there are handy online tutorials that show you what to do.  Some of the well-known DIY stores have help available both for novices and more experienced hands, both online and in-store.

Make a survey of the job

Before you start knocking walls down, survey the DIY site and make a list of everything that will need doing.  Do you need to move a light switch or socket? Are there any pipes or cables in a wall that you’re going to alter?  Where will you put the furniture and belongings while the room is out of use? Where will you do your sawing, pasting and so on?   Write down your plan of action – step by step – so that you don’t forget any important tasks.

Buy everything you need before you start

Try to buy everything you need at once, otherwise you may have problems if supplies run out.  You might not be able to match up the exact shade of wallpaper or the tiles you selected so carefully may be out of stock, and you may have to pay extra for a small quantity.   It’s not a bad idea to buy a little more than you think you will need, to cover breakages or faulty estimating.  It can be very stressful to run out of materials near the end of the job and have to rush to the shops for a top up. 

Don’t rush it

Finally, although you’ve made a plan and have a good idea of your intended timescale, take care and don’t rush your project.  Hopefully, you’ll have done everything necessary to enjoy working on your project and soon you’ll be able to sit back and savour the fruits of your labour for a long time!

Good luck!

HEY CU’s Christmas Blog

The most wonderful time of the year is fast approaching, and with it comes presents, clothes, holidays and shopping lists so long you’ll have to check them more than twice! The festive season is the most expensive time of year for most of us, so we at HEY Credit Union have put together a few handy tips to help cut the cost of Christmas this year.

1.    Stick to the budget!

It may seem obvious, but sticking to a set budget is one of the best ways to make sure you don’t overspend this Christmas. Sit down before you start shopping and draw up a list of everything you can think of – including presents, food & drink, clothing, transport, and so on – and the amount you estimate to spend on each. You can then keep track of how much you’re spending on each item, and tick them off the list once purchased. You’ll also be able to see where most of your budget is being spent, and will find it easier to reduce costs where possible.

2.    Beware of Christmas ‘deals’

Retailers know that almost everybody is in shopping mode the closer it gets to December 25^th. Almost every advert and email you come across is trying to persuade you to part with your cash in exchange for Christmas gifts, with the promise of discounts and exclusive offers. In recent years, Black Friday and Cyber Monday promise slashed prices, and whilst you may be able to pick up the odd bargain – it’s essential to remember that retailers are trying to get you to spend as much as possible. Beware of overspending on items you don’t need, and be especially careful of Black Friday scams.

3.    Try ‘Secret Santa’

Gifting presents doesn’t have to cost a fortune, and the gifts we remember most are the ones that come from the heart. If you usually have a long list of people to buy for in your family or friendship group, why not try a Secret Santa? Each person gets given their own person to buy for – so you can really think about getting the perfect gift, whilst saving a pretty penny! It all adds to the excitement and thoughtfulness of the holidays.

4.    Take advantage of loyalty schemes

If you shop at a supermarket throughout the year, make sure to take advantage of any bonus or loyalty points you’ve accumulated. All of the major chains provide loyalty schemes to keep customers coming back, and Christmas could be a perfect time to cash in on the purchases you’ve made in the past 12 months. 

5.    Proper preparation

Despite it only being just the one day, we all know preparation for Christmas starts well in advance of the 25^thDecember. By making sure you get a head start on the festivities, you can save yourself quite a bit, especially if you’re booking travel over the Christmas period. Trains and flights tend to shoot up in price the nearer to Christmas you go, so try to plan ahead and book as early in advance as possible. 

Whilst planning in advance is a great idea, it’s worth bearing in mind that many retailers drop their prices in the January sales. It could be worth keeping this in mind when shopping, and promising your loved ones their presents after the Christmas rush.

6.     Open one of our Christmas Saver Accounts for 2020!

This year, our members broke records, as they saved a huge £850,000 in this account over the course of 2019! We believe it’s the safest, and biggest, festive savings pot in the whole of the Humber region. By putting away as much or as little as you throughout the year, you can take the financial stress out of Christmas. Get a head start on 2020 and apply for an account today.

As November ends and December begins, here are a few fantastic events to get you in the mood for Christmas 

Hull Christmas Market

With a magical Christmas tree, Kids Zone and festive food and drink stalls, you’ll be hard pressed to find anywhere better to kick off the festive season. It’s also walking distance from our Head Office!

Driffield Christmas Lights

Come see us in Driffield Town Centre on Friday 29^th November for the Christmas Lights Switch On, and say hello to Penny the Pennywise Penguin!

Scunthorpe Food and Gift Fair

For one day only on Saturday 14^th December, Scunthorpe town centre will be transformed into a winter wonderland with gifts, treats and snacks aplenty on offer.

See Santa’s Sleigh in Bridlington

Take the little ones to see Santa’s Sleigh in all its’ glory this December, as he makes his way around the streets of Bridlington from 1^st December.

Wishing everybody a wonderful Christmas and a happy new year, from all of us here at HEY Credit Union.

John

CEO, HEY Credit Union

HEY CU – Giving our members a chance to have their say

Wikipedia defines a credit union as ‘a member-owned financial co-operative, controlled by its members and operated on the principle of people helping people’, and there are no places where this is truer than at HEY CU. It’s little wonder, therefore, that we look to involve our member-owners as much as possible in the running of their organisation. And it’s for this reason that we decided to invite all members to take part in our latest satisfaction survey.

Having direct input from our members is absolutely essential to find out what we do well, and where we can improve. We’re always looking for new ways to enhance our service to them, and the best way of doing that is to have open and honest two-way communication. I’m firmly of the belief that this is what sets credit unions apart from the high-street banks and corporate lenders, and is something that needs to be celebrated. At the recent ABCUL AGM in Manchester, this was one of the prominent themes from the many interactive and educational sessions and workshops.

At the end of the day, as credit unions - we’re owned by our community – so we need to have a dialogue with our community. Below are a few results from our recent survey.

If we look back at the definition at the beginning of this blog – in particular the idea that credit unions are founded on the belief of ‘people helping people’, then this stat is firmly in line with that belief. We strive to improve the financial wellbeing of our members, and one of the ways we do this is by offering access to affordable loans. Those of us who work in the credit union movement know that too many people are excluded from fair financial credit options. Hopefully, as one of the organisations proudly holding a 5 star Fairbanking Mark for Loans, we can make continue to make a difference and offer our members the best possible value.

This one in particular makes me very proud. One of our goals as a credit union is to offer a genuine alternative to the high-cost lenders out there. The fact that our members regard us as responsible suggests we are doing our job, first and foremost. Hopefully, it means that members are happy to recommend us to friends, family and work colleagues and together, we can improve the financial wellbeing of even more people throughout the region we serve – Hull, East Yorkshire and Northern Lincolnshire and various employers further afield.

Another key theme from the ABCUL AGM 2019 was the need for credit unions to be as technologically relevant as possible, to be just as accessible to people as the less scrupulous lenders out there are. It’s a sad fact that many of the so-called payday lenders make it seem easy to apply for a loan – with some able to release funds on the very same day. Unfortunately, this ease of access can often distract people from the harsh reality of the exorbitant interest rates they charge.

It’s good to know that the vast majority of our members feel that HEY CU loans are processed quickly and conveniently for them.  Even so, it’s an area where we are striving to do even better, so that our competitive advantage over other types of lender becomes  even more apparent over time.

While the vast majority of responses to our survey were positive – there are clearly some areas where we know further development is needed. Members often mentioned the need to streamline our online access and the process of applying for loans – and rest assured, those are areas that we have plans to work on over the coming months.

Speaking of coming months, we have quite a significant milestone to celebrate this June. HEY CU will be turning 20, and we asked our members for ideas to mark the occasion. We’ll be meeting with a number of partner organisations and members of the local community to ensure June 10^th will be a date to remember for years to come. Watch out for our news of how members can get involved in these celebrations in due course – we wouldn’t be where we are today without you.

Until next time!

John