5 Tips For Spending Your PPI Compensation Wisely


If you’ve come into some unexpected money – maybe your PPI claim has finally come through – then you may be tempted to blow the cash straight away. In this article we give you some things to purchase that will help you be more productive and stop you blowing the lot on “stuff”.

5 Tips For Spending Your PPI Compensation Wisely
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So, you’ve successfully made your PPI claims, and have received a decent amount of compensation for your trouble, now what? Well it’s time to reinvest that reimbursement you so rightly deserve and we’re going to explain how. From home organisation to productivity purchases, we’re going to give you 5 tips for spending your PPI compensation wisely.

1. Buy A Desk Organiser

Chances are when you made your PPI claim you had to sift through various old documents and files both of which were disorganised and as result hard to find, adding a sufficient amount of time to your claim.

So to prevent such an arduous task from needing to be done again, reinvest some of your compensation into a desk organiser. With various sections for papers, manuals and most importantly documents, you can store your records in a safe and easy-to-find storage solution.

2. Invest In A Window Mounted Solar Charger

While you prepared your PPI claim, you probably spent a lot of time on the phone. Whether it was to a claim company which was handling your dispute or the actual lender who mis-sold you the PPI policy in the first place, you would have had to spend substantial time speaking to them on your smartphone and as a result, completely draining it of any battery.

So when you receive your compensation, purchase a window mounted solar charger to ensure you never run out of charge ever again, no matter where you are. Without the need for plugs, simply stick the charging bank onto any adjacent window to keep yourself at 100% 24/7.

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3. Take A Holiday!

With the average PPI win amounting to roughly £2000, that’s more than enough compensation to pay for a rewarding and stress reliving holiday, with some spending money to spare!

Making a PPI claim can be an incredibly demanding process, with the amount of audits, forms and checks that need to be completed, it can sometimes take up to 6 months before you see any semblance of compensation. So once you do receive it, what better way to reward yourself for being so patient than taking a trip abroad?

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4. Use Project Management App To Make Up For Lost Time

With the recent announcement of a PPI deadline, you likely pushed a lot of things you had to do to the back of your queue whether they were personal or career based, to ensure that you applied for compensation before the deadline hit.

But now you’ve received your pay out its time to get back on top of things and one way you can do this is by investing in some project management software. Able to track conversations, tasks deadlines and efficiency, you’ll be back to your most productive in no time.

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5. Treat Yourself To A New Car

With a couple from Devon recently claiming back a massive £153,000 in mis-sold PPI, there is also room for far more extravagant purchases if your compensation pay-out is substantial. One such purchase could be the acquisition of a new a car.

For either personal of business use, if you were to receive a similar pay out to the one mentioned above you could buy an Aston Martin Vantage V8S, Audi R8 or a Maserati Gran Cabrio with your compensation.

So there you have it, 5 tips for spending your PPI compensation wisely, remember the PPI deadline is in August of next year, so if you haven’t already, apply and you could receive thousands of pounds worth of compensation.

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