Iceland’s curiosity‑free Meals Membership loans are again. Right here’s how one can use them (with out getting burned) if the meals store is breaking your finances.
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The summer season holidays are good for household time, however a complete catastrophe for the meals finances.
Youngsters at house = cabinets emptied at report pace.
In case you’re already facet‑eyeing your grocery invoice, Iceland would possibly simply be your new finest mate.
They’ve introduced again their Meals Membership, a small, curiosity‑free mortgage you need to use to purchase your meals store and pay it again in weekly chunks.
It’s not magic and it’s nonetheless borrowing, however for those who’re genuinely caught, it’s a far safer choice than slapping it on a payday mortgage, bank card or utilizing your overdraft.
What’s the deal?
The Meals Membership is strictly what it feels like: a option to borrow a small quantity on your meals store with out being stung by sky‑excessive curiosity.
You may apply for as little as £25 (or as much as £75 for those who’re new and £100 for those who’ve used it earlier than). If authorized, the cash’s loaded straight onto a pre‑paid Iceland card you employ like money in‑retailer or on-line.
Repayments are set at round £10 per week.
That’s it. No hidden charges, no “shock” curiosity.
However isn’t borrowing for meals a nasty thought?
Actually? Sure – for those who can keep away from borrowing for meals, keep away from it. You’ll be paying again meals lengthy after you’ve eaten them. However we get it.
When the fridge is empty and also you’ve bought hungry children, it’s tempting to chuck the store on a bank card, Purchase Now Pay Later and even dip into an overdraft.
The issue is that these choices can chunk again arduous, and missed funds imply charges and additional curiosity you possibly can’t afford.
The Meals Membership’s completely different:
- It’s run by Honest For You, a not‑for‑revenue lender
- You solely ever pay again what you borrowed
- Fastened repayments imply you possibly can truly plan round it
So whereas borrowing for meals isn’t one thing we’d ever advocate as Plan A, for those who’re in a rut, it is a safer Plan B.
Easy methods to get it
Making use of is simple. Head to the Meals Membership web page and fill in a fast software kind (they’ll ask about revenue and outgoings to examine it’s reasonably priced).
In case you’re authorized, the cardboard’s often prepared inside a few days, and you need to use it immediately on your meals store.
Already borrowed and repaid earlier than? You may often reapply when you’re clear.
Easy methods to make it work tougher
In case you’re fortunate sufficient to be accepted, make the cash stretch:
- Write a meal plan earlier than you store – no impulse aisle‑wandering
- Bulk purchase the three‑for‑£10 freezer offers and cook dinner in batches
- Refill on worth staples like pasta, beans and frozen veg
- Borrow solely what you already know you possibly can pay again – the very last thing you need is to swap meals stress for debt stress
Remaining phrase
Borrowing to purchase meals isn’t very best. However for those who’re in a good spot and the choice is racking up Klarna debt or a bank card you’ll wrestle to clear, Iceland’s Meals Membership is the higher choice.
There’s no curiosity, no sneaky fees and the repayments are straightforward to finances for.
It’s not a repair, nevertheless it may cease a brief‑time period wobble turning into an even bigger monetary drawback.
Learn subsequent:
Easy methods to get FREE meals and drinks – apps and different concepts
The place children eat free this summer season 2025
Naomi is aware of the burden of residing on little or no and have become debt free by following her personal cash saving suggestions and methods. She is an professional on saving cash on the grocery store and facet hustles.
