We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
do you think its a bit tight?
Comments
-
debt board.....never0
-
I've just read this thread and am totally baffled.
To me it seems the OP set about asking a realistic question, and received some considered answers .... but doesn't like the answer to any of them!
TBH - sorry OP, but I agree with the others ... £10 per week contingency isn't a huge amount when you've got a child. However, others on here, have fed families of four on £20 for the month so I guess £40 a week for 3 of you could be cut back.
Does the money you have stashed from the loan pay interest that you could use to subsidise your weekly contingency if required? You could maybe do this vice versa if any of your contingency was left, you could add this to the loan amount.
I definitely think there's scope out there though to work, even if it's the odd baby-sitting fitting around shifts, that could bring in a tenner ....0 -
£520 for an entire year as spends and emergency money is just living in a dream world. What happens when you want to get Christmas presents for your child? Children that age tend to grow quite a lot in a year, new clothes/shoes? You might not plan on doing any shopping or seeing friends in the next year, but things like socks and undies need replacing. What if one of you needs a filling (don't use the arguement 'we take good care of our teeth', so do I, I brush 3 times a day, still needed dental work this year when I fell and knocked out half my front tooth), or a prescription? What if, God forbid, your child got sick when hubby was at work and you had to go to the hospital and needed a taxi? Do you not plan on visiting any friends or family outside the very immediate area for the next year?
However have you even remotely considered the course costs? For your dissertation you will be doing a specalised area of research. The library holds a fairly limited selection of books unless you happen to be in a specalised one ie medical libary or law library. I did a fairly standard professional MSc that my uni specalised in, and still I had to spend £360 on used copies of books to be able to complete my dissertation. I would also add that the MSc was twice as hard as the undergrad, required a LOT more study, and if on a 60 hour a week study you only got a 2.2 I would seriously think long and hard about how you are going to get through such a challenge.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
the last of my student loan will probably be cancelled off when I'm 650
-
The 2ok aren't savings, though they may feel like it but are LOANS.
You are free to use them towards a future mortgage (anything you like, in fact), but the DEBTs you have from these LOANS will be taken into account when you apply for the mortgage.
It's clear that you have ample money available to invest in your studies which originate from the sources of finance that are set up for the purposes of studying! Therefore, you won't struggle at all over the coming year even if your loaned money decreases. Use your nest egg.
I'm pretty sure student loans do not count on a mortgage application. Also I don't think its particularly fair to ask the OP's partner to do extra work just so the OP can get their Masters.
WillSShhhhhhhhhhhhhhhhhhhhhhh0 -
Are you planning to do a MSc then not work? Or to stay below the 15k ish repayment threashold?Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
the last of my student loan will probably be cancelled off when I'm 65
So basically, your plan is to let the tax payer pay for your house, second home, boat etc that you mentioned above? No idea if this is really feasible in the real world, but I sincerely hope not. Any sympathy that I may have had for your situation is now gone, sorry.0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards