Poor student - how many students aren't!

marshmellowminx

I am ashamed to admit that I rarely check the emails that I get sent by moneysavingexpert.com, but today saw the post about trainfares, and I decided to have a look. Then came onto the forums, and saw some of the other posts, and I have to say I feel so much better knowing that people are in a similar situation to myself.

I signed up to the natwest student account last year, just before starting my first year, and was lucky enough to have a savings account which I could transfer some extra cash. My plan was to stay healthily in credit, whilst my unprepared friends would spend frivilously.

By Christmas, I had done a good job in saving money, and still had a lot more money than most. However, Christmas took care of that, and by January - and the next installment of my student loan - I was only just in credit.

Since then, I got myself into a new relationship with a guy who's money situation was even worse than mine. Because of this, I was quite happy to buy food and general 'going-out' costs for the both of us. Hence, my debt increased.

I've never found myself in financial difficulty before, as parents paid for food and there was nothing else to pay for. This meant that I was used to being able to spend my money on luxuries. I must have continued to do this, whilst being unaware that I also had things like rent and food to pay for too.

Trying to get a summer job has been a nightmare - nowhere wants to employ students because:
1) I live in a very 'studenty' town, and all of the jobs had pretty much been taken by the time I got back from uni
2) People don't want to employ students because once they'vce just about trained them up, they'll be going back to uni again.

It may seem like a ridiculously long story, but it climaxes here, where I paid £400 to go on a course to start up my new business (I was given a grant, enough to pay for the course) but due to direct debits, there was not enough money in my account.
Today I received a letter telling me that the course (which I've already done :-s ) has not been paid for because I didn't have enough money, plus I have to pay £38 fine. They've organised for the cheque to go out tomorrow, but I will be over my overdraft, so I'll get fined as well.

I feel lots better for writing, but still, my money troubles are still a big burden.

I guess the lesson is:
Spend Less!

Kevicho

No the lesson is read MSE more and check ur emails

Smashing

Stop subbing your boyfriend! Try to find things to do together that aren't out of his budget, or better yet - free!

cupid_s

not sure if this helps but there are several jobs that only want people to work in the summer.

my husband worked in admin at two different universities. over the summer universities have so many accommodation applications and paperwork to do they employ a lot of students. try to get in quick next time.

also places like photo processing labs take on more staff. I worked at one of these two years running during the summer, and hubby worked one year before we were together (he mixed up 101 peoples photo orders so they wouldn't have him back lol!)

Finally I have found that whenever i am completely stuck I can always do bar work. There's no issue of training - takes about 30 mins to show someone how to use the till if it's a system you're not familiar with. If you could and your boyf could then as well as getting paid you're also preventing yourselves from being able to go out and spend any money. And it's good fun.

Though you should worry about your own money and not your boyfs. When me and hubby got together at uni his finances were much worse than mine. And in the first year we were together he paid off a lot of money he owed and managed not to spend over half of his student loan!

Be a good influence over his finances rather than him being a negative one on yours

CarolnMalky

Silly suggestion I know, but can your overdraft be increased up to the limit(dunno if you are already at it or not).
How about looking through all your cd's clothes etc and selling some of it on ebay if you dont wear it/use it?

marshmellowminx

Hiya,
Post my, um, post, this morning, my boyfriend has contacted a hotel in his village, so we can both go and work in either the bar or restaurant, and if they don't need people, then because its a hotel, there are loads of other sections too.
Unfortunately can't extend my overdraft; this is done automatically by the bank each year, but considering changing my natwest account to the halifax one, with a bigger overdraft, so at least i won't have to worry about interest.

Also, recently properly cleared out my room (the first time in about 19 years!) and have a big box of stuff to sell on ebay. Just a bit concerned that firstly, I have no money to pay ebay fees, secondly, what if the stuff I put up doesn't sell?... Any advice from ebay experts would be excellent.
I've sold quite a bit of stuff before, but there's quite a lot of stuff ready to go out now.

Jools :-)

onestep

Re selling those CDs/books etc, try selling on Amazon first; you can set your price (be realistic and check what other sellers are priced at) and you don't pay a fee unless you sell. remember to factor in postage costs.

and well done for addressing the situation before it gets out of hand!

onestep

MoaningMyrtle

marshmellowminx wrote:

Also, recently properly cleared out my room (the first time in about 19 years!) and have a big box of stuff to sell on ebay. Just a bit concerned that firstly, I have no money to pay ebay fees, secondly, what if the stuff I put up doesn't sell?... Any advice from ebay experts would be excellent.
I've sold quite a bit of stuff before, but there's quite a lot of stuff ready to go out now.

Jools :-)

Ebay fees get taken by direct debit once a month, it will be after your items have (hopefully) sold. If they do not sell the first time, you can re-list the item for free, by just pressing a button, it's very easy to do this.