Will making this thread and bookmarking it help?

SuperBOB

I lack financial discipline, I spend what I have till its gone then borrow until I get another chunk of my earnt money..

Im at the end of my 2nd year in Comp Sci, a bit of a late-starter at 22, living with parents to reduce my debt heres how it stands at the moment though :

Year 1 : 3k Student loan, £100 Burtons shopping card, £1000 Student overdraft

Year 2 : 3.5k Student loan, another £100 Burtons shopping card, £1400 overdraft

Year 3 : 1k Student loan

Total debt 17/06/06 :
£7500 Student loan
£200 Burtons shopping card
£1400 Student overdraft (Barclays)
£150 A&L overdraft (Current account)
============= £9250

Im pretty worried about this especially when you consider I have no bills except my mobile phone. Now going to make this thread my homepage to try and remind myself not to blow cash unecessarily..

Thankyou for any advice

brranger

maybe but if you throw up a soa we will give a great big hand to point you in the right directions..

Welcome
Ranger

kingmonkey

Its not that bad cos the overdraft is free and the student loan is cheap. I guess you need to learn to budget.

I would pay off your burton shopping card as fast as you can cos the rates on that are high I suspect.

Consider getting a summer job, (dont go on holiday). Apply early for jobs next year, and you'll be sorted. Spend all your time next year revising and programming in your dressing gown (It feels soo good) that way you wont need to buy extra clothes.

SuperBOB

Hey brranger,

Outgoings:
£20/month 3mobile contract
£40/month busses
Im going to tenerife in July, so ill need some spending money for that

Incoming:
£1000 after tax summer job
Hopefully £500 after tax term time job

My money goes purely on rubbish, I constantly whinge about not being able to afford driving lessons yet I clear a grand and live with my parents...
My main problem is eating out, I spend hundreds eating out with the gf, its like routine now.

SuperBOB

Hey kingmonkey,

Yeah the burtons card needs to go, I dont need it, im going to clear it on payday and cut it up.

I guess thats my target for this paycheque, clear burtons card and save enough cash for the holiday spending...

MCBIRNIE25

Start treating the gf to some romantic nights in if poss. A bit of music some candles, great food, will save ya loads voer the course of a month, plus she will apprciate it more and think you have made a real effort.
Win win.

lightatendoftunnel?

SuperBOB wrote:

Hey brranger,

Outgoings:
Im going to tenerife in July, so ill need some spending money for that

.

Have you been to tenerife before? If not be careful there are places will have your eyes out for drinks. Say buy one get one free then when you get in they only have expensive drinks!! Its usually the bars you go to when you are slight worse for were and pay it as you dont realise!! Depending were you are staying you can get a pint for 80p during day and short and mix for around £1.20 up till around 6pm and 7pm. (My parents live there). Enjoy its a good laugh

Quincifer

I would maybe suggest getting a student credit card to pay off the burtons card at first because they are interest free for the first year. You can then throw your paycheck at another debt and you've got a year to pay off the credit card with no interest building up.
Did you book your tenerife holiday through a company that gives discounts to students? STA travel is brilliant for that.
For future reference i'd keep a check-up on the NUS website to see what you can get discounts on, they change a lot and people get added all the time. You might be able to get cheap meals out, discount clothing etc. I know its something students know already but take advantage of a good thing while you can!!
Good luck xxx

Kevicho

SuperBOB wrote:

My main problem is eating out, I spend hundreds eating out with the gf, its like routine now.

2 questions

1) Does the missus ever pay?
2) Does she demand you take her out for meals?

Im sure many people here will tell you that nights in can be a lot nicer, and are a heck of a lot cheaper

tawnyowls

Nights in perhaps might not work with parents, maybe that's why?

While weather's nice, how about taking her for some picnics - cheap, fun, and romantic.

SuperBOB

Quick update - cleared my Burtons card, had a wage increase at work, passed my 2nd year @ uni and returned from tenerife.

lightatendoftunnel you were right, tenerife is a nightmare for drinks prices, they only have them in half the bloody menus as well.

Have you done the medieval night? San Miguel castle i think it was, amazing night out...

in short, I over spent hugely in tenerife (including an engagement ring..) but im still doing better financially than I was when I started this thread so that can't be bad..