5 Innovative Ways To Spread The Cost Of Large Purchases

It doesn’t matter how much you earn, a large, unexpected payment can sometimes put you on the back foot financially. These expenses can come out of nowhere, but it can be worse if there is something you really want to pay for, but you do not have the money available.

You don’t have to avoid these large purchases, however. All you need to do is re-think how you are going to afford them. So, next time you want to pay for a holiday, house renovations, or a new car consider the following payment methods to spread the costs in an innovative way.

Use Your Savings

Anyone in a full-time job should be able to reliably save some of their income for a time like this. After all, it is one of the upsides of working a nine-to-five job. Therefore, you should be able to reliably cover the costs of any expenses that are out of the ordinary.

However, your savings aren’t always a viable option for large purchases, especially if you have recently had to cover the costs of an unexpected bill. What’s more, you may want to keep your hard-earned savings aside as a safety net for the future. So, what are your other options?

Credit Cards

Credit cards are not used in the UK as often as they are in other parts of the world, but they are still a recognised payment option. Putting a large expense on your credit card allows you to defer the payment for another time. You can pay it off over several months; however, these expenses will accrue interest until you make the last payment on your credit card bill. This method does still make larger expenses more manageable, but you will have to think about the long-term effects of operating debt like this.

However, another advantage of using a credit card is that it can be used to make purchases online without risk to your personal account. You can use it to make the initial online payment and then pay off the debt immediately with your debit card. This practice helps you stay safe online, while also acting as a method to improve your credit score.

Pay Day Loans

Since you are only seeking to cover a single large purchase, perhaps a short-term solution is the answer to your problem. That is exactly what payday loans provide. Most payday loan companies, such as Payday UK, allow their customers to borrow the money that they need on the same day of asking, which can really help in a pinch. 

The biggest benefit of payday loans is the fact that you can borrow the exact amount that you need so that you aren’t saddled with an unnecessary amount of debt that you will struggle to pay back. What’s more, you do not need a perfect credit score to qualify for a payday loan. 

Digital Wallets

Sometimes, it isn’t the size of the expense that can deter you from making a large purchase. In today’s age of cybercrime, you may want to find a payment method that prevents you from fraud when making large payments online. Fortunately, that is exactly what a digital wallet service provides.

These money management sites work as a middleman between you and the site you wish to pay. You can transfer your money to the digital wallet, and it will be passed on to the site where you are making payments after the digital wallet has performed several stringent security checks.

This payment method prevents any harmful web users from gaining access to your bank details; however, you are likely to be charged for the privilege of using a digital wallet. If you are in financial trouble, then further costs are not going to make things worse.

 Hire An Accountant

It may seem futile to suggest making more payments to help you cover the cost of a large expense, but a financial expert may be of more use to you than you think. An accountant can not only advise you on the best course of action when you are faced with an unexpected bill or large purchase, but they can also suggest strategies to help you save money in the future.

Each case is personal, which means that you may only benefit from using one of the innovative payment solutions above. Accountants are trained professionals that will be able to assess you as an individual and recommend the course of action that is most suited to your needs.

Furthermore, arranging a meeting with one of these money experts can put you on good financial footing, so a one-off meeting with an accountant could provide you with all the innovative knowledge you need when making a large expense.


Navigating your finances is a tricky endeavour all things considered. Fortunately, there are plenty of options for you out there that can help you manage your expenses, so do some research to find out what solution is best for you.

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