University Challenge x 2

enthusiasticsaver · 10 September 2017 at 1:57PM

I think you should also look on this period between childhood and adulthood for your twins as an adjustment for them to start being responsible for their own financial choices. Expensive mobiles, day to day expenses and running their cars should be down to them at 18. You do them no favours by funding these things regardless of affordability. Presumably at some point you need to look at your retirement. Having £40k of debt which you may not realistically be able to reduce while your twins are at Uni will be a millstone around your neck as income reduces. How old are you and when does your mortgage finish?

Plain_Jane · 12 September 2017 at 6:46PM

I'm 52 and hubby is 54, our mortgage runs for another 13 years. At the moment we can't magic money from thin air and the dt's know the score. However they can't afford those things either so do we give them all up which means starting again in 3 years or muddle through, pay off the loans and stop the phones when the contract ends? They will both need a car on holidays for working so it seems to me it would be best to muddle through. They are 19 today and both had money and vouchers which will help.

We're home from our holiday now and back to work and more debt busting! 2 weeks until payday when another chunk gets paid off.:D

Plain_Jane · 17 September 2017 at 3:49PM

So we dropped DT1 off at university yesterday. She's all settled in and we did a food shop while we were there of £50 which is what I budgeted. She went for own brands even though I said she didn't have to but she said she had to get used to it. She's making a spag Bol tonight and will freeze 4 more portions. I cried all the way home, was ok for a bit and then cried some more. But she's so happy and organised. Just hope she gets through freshers week unscathed.

Next Saturday DT2 goes and she is very excited and getting packed. I shall do the same moneywise - we will get groceries to the tune of £50 to set her off. She's not a cook and reckons she'll live off Spec!al K, chicken and scrambled egg on toast.

I've spent this morning starting to clear the slum that is DT1's room - I know I will feel better when it is done to 'my standard'.

We are still within our food budget for the week - just done a top up shop to last until Friday. Hubby is away until Wednesday night so have not needed to buy as much.

Not really been an MSE week due to uni trips and getting last minute bits but coming along.

Mudbath · 17 September 2017 at 5:04PM

Just wanted to say hello and well done at getting one of them settled in at uni. My DD goes next Sunday though we've already taken half her stuff already. Her accommodation is ridiculously gorgeous (and ridiculously expensive but it is all that was available).

I guess we're lucky as we only have one going at the moment (DS is two years younger).

Luckily DD had savings from working through 6th form so she's paid the first £1000 on her accommodation and will pay that back when her loan comes in. We've worked out it will cost us an extra £50 a week on top of the maintenance loan to fund her accommodation and we're aiming to give her £50 a week for food, books, social life, public transport etc and she'll get a job if she needs more. Luckily her current job has said they'll have her back at Christmas, Easter and over the summer.

It does make me feel incredibly mean when I hear my friends parents are giving their children £150 to £200 a week!! Then again, I guess it will teach her to budget!

Good luck settling your other daughter in.

Plain_Jane · 18 September 2017 at 10:18PM

Hi Mudbath it's nice to speak to someone going through the same thing.

I think £50 is about right. We are giving ours £30 for food and their grandma is giving them £100 a month so either £20 or £25 a week depending on whether it's a four or five week month. DT1 managed to save £400 to take with her from her summer job so better than nothing.

I know there will be others in their flats that have more or won't have to work but that's not our situation I'm afraid.

DT1 has some terrible news last night that one of her school friends who was at uni only a few days committed suicide. She is devastated. I'd hate to think my children were going through some emotional trauma like that and I knew nothing about it.

Xx

Honeysucklelou2 · 18 September 2017 at 11:22PM

Well done to your DT1 for making portions of spaghetti Bol...good thinking already. Will the DTs have chance to visit each other? ThT's interesting to read of your initial food budget. My DD1 goes on Saturday, so I'll take her to the supermarket to get her stocked up.

Mudbath · 19 September 2017 at 8:41AM

So sorry to hear about your DD's friend committing suicide. It must be so unsettling and sad for her. Last week a local lad of 17 did the same and then my husband came home and said a work colleagues friend had also killed himself. I sat my two down and told them nothing was ever too bad to talk to us about. They looked at me as if I was slightly mad but I had to say something. So desperately sad.

Hope Saturday doesn't bring too many tears. Kleenex (or own brand supermarket) tissues at the ready for me on Sunday x

Plain_Jane · 27 October 2017 at 1:53PM

I've just realised I've not been in here for over a month!

Well it has been a period of adjustment.

Both DT's are settled at University - still a bit homesick but getting there. They have been home a few times and we have been to visit them. It is still very quiet at home apart from the dogs frolicking about.

Both are doing really well with their budgets and sorting out their groceries so I am happy I have managed to raise two relatively independent children.

Things are ticking along on the money front - no great inroads as we don't have an enormous amount to throw at the debts each month - I have managed to put just over £100 away for Christmas, not much but more that we would have had before and just plonked it all on the credit card. It is going to be a very frugal Christmas this year.

I must update more often it is really good therapy in my opinion

System · 27 October 2017 at 9:52PM

Bet your grocery budget has gone down in the last month.

Glad that the girls have/are settling into university life. I guess it's a period of adjustment for you all.

£100 is better than nothing , this year I have saved a set amount from January to October for presents/birthdays/mother/Father's Day. It has been one of the best things I have done. November and December will be used as extra spends for Christmas do and any extras.

Honeysucklelou2 · 28 October 2017 at 2:09AM

Glad your DTs have settled into uni life. Well done on saving that £100.

University Challenge x 2

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