Student Debt

I've been thinking about finances again, mostly because I strangely enjoy sorting them out. Maybe I was an accountant in a past life, or it's just because I enjoy maths.

There's an advert for a popular bank (the one I used to work for actually) that irritates me so much. Some young people are jumping on a sofa and reel off about how "it's so great that they give you an overdraft, I was in my overdraft by the third week, hurr hurr hurr I'm so silly." Literally every student bank account gives you an overdraft, it's nothing to write home about. Don't infantilise a whole group of people.

But anyway, a friend of mine was fretting about his student finance application recently. He was trying to work out how much he needed to live on and therefore how much maintenance loan he needed to apply for. So I said "why not just apply for the full amount? You probably won't end up paying it back anyway." It's the same reason that I chose to start third year again from the beginning rather than just coming back for January exams. I wouldn't have been able to attend lectures or redo coursework, just for the sake of saving an extra £3000 on my student loan. Seeing as this degree will cost me over £40,000 in loans anyway, what difference would that make?

The fact is that a student loan is going to be the cheapest long-term debt I'll ever have. Since it'll just take some from my earnings, I'll probably forget it's even there.

I really would recommend students just starting to work a part time job. I wish I had earlier on, but it baffles me how people can go into their overdraft so quickly. Sure, I'm pretty small and not materialistic, but some people were living on houmus and buying new clothes for goodness sake Because I make enough money working to cover my living costs right now, the maintenance loan I'll get this year will go straight into savings.

Money isn't supposed to make you happy and all that, but it's got to help...? Maybe I really am turning into an adult, if the prospect of financial security gets my blood pumping.

Apologies for the rambling post, but it's exam season and I'm procrastinating!

Limpet x

Fiddling Around With Finances

So as you know by now, I've been trying to get my life back in order since the beginning of this year. The aim was to get grounded and mentally stronger before I resume my degree in September. I've had my peaks and I've had my troughs, but overall it's going well and I'm in so much more of a happier place now.

Whilst the first part of this year was about taking some time to myself, getting back in touch with my crafty side, etc. this obviously wasn't good for my finances. So when I was ready, I started work. It started with pub work and then I managed to find a temporary 9-5 with good pay for three months. Thanks to working very hard and moving into a cheaper place, my money situation has got a lot better and I can think about savings.

Goal 1: Well-paid Summer Job

My well-paying summer job this year was at a bank in the big town centre. I was basically the person who stands at the entrance and says "Hello good morning how can I help you?" really fast before they've walked past me. Just directing people and showing them how to use the machines really. It's very boring work, and it's horrible standing in one spot all day everyday. However, it's 9-5 and they pay me £9.84 an hour to do it so it's nothing to be sniffed at. Even when I have to spend 20 minutes explaining an overdraft to someone that doesn't understand negative numbers.

Today is my last day at the bank (writing this in my lunch break); I've spent 3 months here now as it's a temporary position. I've also kept up my pub job, just working 3 or 4 evenings a week there. I won't lie, it's been a real challenge working from 9am til midnight on those days, but it's what I needed to get my finances back on track. Now I can just work at the pub and start catching up on university work before I go back in September.