Advise Needed - Final Year of Uni

DazzaE

Hi,

Everyone been a long time since been on here to be honest, hope everyone is well and forth! :j

Ok down to the nitty gitty.

Am at then end of completing my industrial placement year and well the pay hasn't been great to start with (£545) but am not moaning some don't even get paid!

Before I started my placement year I moved in with my fiancee into a stunning flat which we both love and have made are little home and I couldn't live without now.

Anyways this has cost us £500 a month to rent (steep for a student I know!)
and obviously we have bills on top of this i.e. Gas, Electric, Internet, Phone Bill (Changing to Post Office !), TV Licence, Council Tax... I think I could go on!!

Now i took out my full loan entitlement this year thinking I could save some if it (Roughly £700) and my final pay so ill have £1245 (makes me sick, wishing id done this writing this now!) and I’ve only managed to save £250 so am going to end up with £795 roughly to get me through one month and half before I get my loan in September (and I can apply for access to learning fund again).

Why am I telling you all this you ask...

Well my fiancee brings home roughly £720 without over time (each has had tax deducted).

Now am in a bit of "pickle" now because I don't want to put the pressure of running our house on her shoulders to be honest, I want to help her as much as I can and meet her half way on all the bills (including rent).

If I wasn’t to get a job how could I raise funds... I already have a maxed out overdraft with the Halifax (yes am luckily, so you think getting 2750).

Now before people start saying get a job over summer or part-time job etc... I am trying I must of applied for roughly 50-60 jobs already this week. My contract doesn’t run out for two weeks either.

I am actually thinking of applying for a 15 months - interest free - capital one credit card and moving the overdraft balance to free up funds... would people advise this as a good move? (I don't really want to get a credit card but if this free's up debt from my nice Halifax account then...)

Also if I did free the debt up and moved the balance I then could claim my bank charges back is this correct?

Also should me and my fianc!e reapply for council tax benefit (already get the 25% discount) and housing benefit the day my contract terminates?

And finally your in my shoes, you live with your fiancee... your in your final year and struggling financially, would you deferred your final year and take a year out and obviously start a fresh with new course friends (my current course friends will help during the course as much I would help them) or would you just do the final year finish uni and hopefully (with my impressive cv, which it looks very good btw) get a good job in my job sector.

Right all done please help sorry for going on for days!!!

Daz
:confused:

Oldernotwiser

You won't be taking things off your fiancee's shoulders by taking on debts that you can't pay back.

From what you say you'll have your £795 plus her £1080 to last you both for 6 weeks with rent of £750 to pay. By my reckoning that will give you £1125 left over; just under £200 per week. You surely won't be struggling on that much, will you? (Apologies if my calculations are wrong.) You may still get a job for a few weeks and, if not, you can take on all the housework, shopping and cooking which will be a worthwhile contribution to the relationship.

I really think that you're worrying too much about this situation and borrowing more money just for additional spending is seriously unwise.

As far as deferment goes, personally I'd just get on with things and be in a position to start your career as soon as possible.