“Since the day of opening, it’s just been brilliant. I’ve been constantly busy.”
And that’s exactly what you want when you’re a small business owner. Tim Widdows is a framer with a shop in Charlbury, a leafy town on the edge of the Cotswolds.
Every made-to-order job that passes through his workshop takes time, so he doesn’t have much to spend on the ins and outs of his accounts. Anything that makes his financial life easier is a big help.
Budgeting with Tymit
Tim applied for a Tymit card because he liked the idea of being able to spread the cost of any purchase – and know to the penny what he’ll pay for it upfront.
“I use the simulator before I buy anything so I can see exactly how much it’s going to cost me overall. Getting the breakdown in advance is really useful because it helps me plan my budget.”
For a business owner like Tim, managing the ups and downs of a monthly budget can be tricky, but having a bit of wiggle room make can make all the difference.
“If you have a tough month and your budget is a bit tight, you can always change your payment plans in the app – but you’ll still know straight away what your bill is going to be. That kind of breathing room is brilliant.”
But it’s when the unexpected happens that financial flexibility really comes into its own.
Tim knew his workshop roof wasn’t in the best condition, but some wet weather at the start of the year was more than it could handle.
“We had a ton of rain and it all started coming down inside the workshop wall. I knew I had to get it sorted quickly.”
Water pouring in from above made getting any work done difficult, but it wasn’t going to be a quick-fix job of plugging a few leaks. The roof had to be completely stripped off and then replaced - and that meant big bills for materials and labour.
“Paying for it with Tymit made total sense. I bought roof slates for £300 first and paid for them over 3 months.”
But that was only the beginning. As the work continued, the costs started piling up.
“Materials will come out at about £3,000 in the end, and that doesn’t include the actual cost of getting it done. Being able to spread that spend over a few months has been a relief.”
Emergency roof repairs are the kind of unexpected expenses that can blow a hole in any household budget, but by spreading the cost Tim is taking the sting out of his surprise spend.
And, with Tymit, he knows he can always replan his payments if there’s more work to do.
A Tymit to-do list
Tim lives in a listed building from the 1900s, so there’s plenty of upkeep to stay on top of. After the roof repairs are done, he knows exactly what he’s going to tackle next.
“We’ve got the old sash windows and the wind just whistles through the house sometimes. Double glazing is next on my list, but that’s going to cost about £4,000.”
With another big bill for home improvements lined up, Tim’s put his new windows on his Tymit to-do list.
“Having the option to pay for the windows over 12 months is brilliant, and with Tymit I know I can always replan and take longer if I need to.”
Planning an escape
It’s not all about work and home repairs though. As much as he loves his shop, Tim’s dreaming of the day when he can flip the ‘Closed’ sign, grab his bags and go. And Tymit has a role to play in his getaway too.
“I’m looking forward to booking a holiday. I’m probably going to spend about £2,000, and I’m going to spread that out with Tymit over 12 months.”
Because he can pay over time, Tim won’t have to dip into any money he’s put away.
“I don’t mind paying an extra few quid a month if it’s going to land a bit easier, rather than taking a great big chunk out of my savings.”
*Tim received a gratuity for taking part in the Tymit Customer Stories series. *