Soldato
Yes Asim, sayin bro?
Student loan! what should i buy?
- Thread starter Elliot6267
- Start date
Yes Asim, sayin bro?
Move out of the mansion and into a student house? Geez. 4.8k on rent? I was paying max of 3.5k a year on rent with all bills.
4.8k, damn! I was paying no more that 3.5k including all bills too. This also included free use of a gym in reasonably new/renovated student halls.
I loved kirkstall brewery in Leeds. Great year there in 2004. It was like a mini centre parks for 18 year olds and had nice cheap bar
90p pint snakebite anyone?
Soldato
- Joined
- 14 Jan 2009
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I don't know many people who's parents can afford to give them beer money for uni.
Maximum amount is easy to get by on if you actually know how to budget.
Actually i can only think of one person with rich parents like that and I don't exactly come from a council estate.
Soldato
I do my best to captialise on what I do have - at the time trying to get rid of the debt was the sensible thing to do in my eyes. I tried not to spend any of it, but took it out as a precaution and because I claimed complete independence from my parents so wanted to stand on my own 2 feet. I'm sure I could have stopped myself from dipping into it at all and just paid it off and made some profit from the interest rates 10 years ago which were a lot higher than they are now but when you're 19/20 and starting uni after travelling the world and pretty broke that's the last thing you think about!
Besides I wouldn't have got to do all the things I wanted to do. I did work and try and spend my money sensibly - I think I did a pretty good job all things considered.
Not doubting anything you have said but ... your timelines don't seem to add up in previous posts you said you had travelled for 7 years and been to uni ...... Now I think I'm just been nosey your life seems to have interesting considering your posts in the gap year thread.. Care to expand , like I said i'm sure it all adds up but i'm just interested and like I said previous a little but nosey
Well, thats cheap. On campus accommodation is £135 a WEEK in Bristol. Absoutely heinous. Its gone up absolutely tonnes in the last 3 years, I really don't understand.
I stayed in Transom House on Victoria Street in my first year, bang in the city centre and pretty average (decor/size wise) for student places, £67pw. Now, looking at the Unite website (link) its gone up to £122 a week!!? I can tell you its not been refurbed either.
Can you really say the costs of running such a place have nearly doubled in 3 years? Interest is so low at the moment, it can't be mortgage payments (or leasing however these place work). Its just profiteering as far as I'm concerned, student accommodation is an absolute scam.
http://news.bbc.co.uk/1/hi/uk/8584415.stm
I currently pay £300pcm in a pretty skanky place in an ok area.
I pay £1.5k a term on rent (£385/month) and I get £2k a term from loans and an extra £400 bursary in the last 2 terms.
Means I don't have a great deal of money spare but what I have spent I've bought useful stuff with since I don't go out a whole lot. Most people I know spend their entire loan on accommodation. In my case half my grant goes on it too
Managed to buy a fair amount of nice stuff since I've come to uni though since I had a lot of money spare in the first year.
Means I don't have a great deal of money spare but what I have spent I've bought useful stuff with since I don't go out a whole lot. Most people I know spend their entire loan on accommodation. In my case half my grant goes on it too
Managed to buy a fair amount of nice stuff since I've come to uni though since I had a lot of money spare in the first year.
Balls do you. I'd **** it all away again if I could. I'm certainly not too bothered about paying it back now. The best days of my life were not made by watching an ISA grow.
Soldato
OP: Do not spend your loan on pc stuff.
It is a 'Loan' and anything you will buy you will be paying back when you are age 45!!!
A friend of mine blew all his loan on a golf at age 19, to which he will still be paying this car back in 20 years time.
It is a 'Loan' and anything you will buy you will be paying back when you are age 45!!!
A friend of mine blew all his loan on a golf at age 19, to which he will still be paying this car back in 20 years time.
Just because your not spending your loan on booze, doesnt mean you cant get a part time job and p*** the money from that up the wall
Upto the OP at the end of the day, but the more the OP earns later in life, the more will be coming out of his salary (more of a reminder and a ball ache) when the money could be spent elsewhere.
Some people spend and someone people save; you can't change peoples opinions.Just because your not spending your loan on booze, doesnt mean you cant get a part time job and p*** the money from that up the wall
Just because your not spending your loan on booze, doesnt mean you cant get a part time job and p*** the money from that up the wall
Upto the OP at the end of the day, but the more the OP earns later in life, the more will be coming out of his salary (more of a reminder and a ball ache) when the money could be spent elsewhere.
I did have a part time job. I ****ed that up the wall too. Great times!
Man of Honour
Not doubting anything you have said but ... your timelines don't seem to add up in previous posts you said you had travelled for 7 years and been to uni ...... Now I think I'm just been nosey your life seems to have interesting considering your posts in the gap year thread.. Care to expand , like I said i'm sure it all adds up but i'm just interested and like I said previous a little but nosey
No worries - my life has always been a bit confusing as I used to travel a lot for work (but for fun too) so it gets a little messy!
I added the time I used to work on yachts (specialising in telecomms and IT systems on superyachts) to my travel time as I spent most of my life away at shipyards in Northern Europe, the Med, and the States. The reason is because, I used to spend the weekend visiting the place I was at, to be a tourist basically. When I went further afield like the States for example, I'd tag on a week or two as holiday or part holiday part work.
I also travel a lot on my holidays.
So yes, I apologise, my post was little misleading I added the travel as basically I spent my life travelling for work so rather than break it down by specific week I just rounded it to the number of years I worked at the company. I also took 2 gap years, one before and one after uni, of which 1/2 of them were spent travelling/working. So they also amount to a year.
Then during uni, I used to travel and work (for the yacht company) during my holidays, whilst also taking a normal holiday.
So I didn't spend 7 whole years straight travelling! It's just an amalgamation of my travels. You should see my IP list for the forums - it's the second biggest of the whole forum!
I finished A levels in 1997-98 it's now 2010, so it's close to 13 years since then, so a lot of travelling has been done - just not 7 years solidly!
However, if I did add up all the time I was abroad it probably does come close to a couple of years away from home solidly at least!!Sorry if it was misleading. It wasn't my intention to, I was just trying to make it simpler!
Happy to chat via email if you're interested in knowing more about where I went and what I did.
Associate
Or he could listen to people who have been there and done that.
ive bought a guitar whilst at uni, and am going traveling to the other side of the world for 2 months this summer, you think im going to regret spending that money? i think not
Man of Honour
When did I suggest he shouldn't spend it? I said, dip into it, and invest it, but don't blow it on everything he sees. :/
I only had 50% of my loan left by the end of uni - whilst I went a bit mad and took up lots of expensive hobbies, I don't regret it, but I didn't go out to spend all of it because I had a sudden influx of income. Then again 12 years ago computers were getting better and better every week so it was hard not to spend your money on upgrades!
All I'm saying is, be sensible.
So you can get off your little soap box now.
I only had 50% of my loan left by the end of uni - whilst I went a bit mad and took up lots of expensive hobbies, I don't regret it, but I didn't go out to spend all of it because I had a sudden influx of income. Then again 12 years ago computers were getting better and better every week so it was hard not to spend your money on upgrades!
All I'm saying is, be sensible.
So you can get off your little soap box now.
As it stands, I started paying it back late in 2003 (despite graduating over a year before then - but as I said work cocked up), but in the 7 years since started paying it back, I'm almost done, mainly down to the last 3 years where my salary has been helping to put a significant chunk into it (and out of my pocket
Ah that explains it, I was surprised that 9 years after graduating you'd still be paying it back considering you had paid off 50% early doors, as I had you down as a big earner. They mucked up my initial repayments as well, and back then it was a £10k threshold not £15k.
I've still got a few years left to go, funny thing is that I'll probably only finish repaying my student loan a couple of years before my mortgage! Also ironically one guy who works in my team actually takes home more money than I do after deductions because I have student loan and pension.
As an aside guys I'd recommend keeping an eye out for the March RPI figure when it's announced, as that will dictate how much interest we'll be paying from september. Could be in a situation where we start getting rooked for 3%+ again in which case if interest rates remain low paying off lump sums may become a viable option.
Exactly. Buy something if you need it, don't waste it on unnecessary purchases. If you do, you'll end up regretting it.
Associate