Hey people lets get this Uni thang going...

Dantheman1212

Thanks Angel , thats exactly what we are doing , i have a separate account and any monies i have i will top him up etc. Great post by the way and i will only give him money if he is desperate dan but he hopefully wont have many worries and enjoy the experience.

Off tae bed now...i am muellered.

Thanks Again Angel.

Danny

whitfreak

If he doesnt trust himself to not touch a savings account under his control, or what have you then I suppose the arrangement works. Keeping to a budget is a good thing. But if he could, then opening up an ISA, or an instant access savings account may be an idea for him (although interest rates are a little pants atm).

Unfortunately I doubt all of that £1k saved will be there for his holidays. The ugly prospect of deposits, and summer rent for second year digs will probably rear its ugly head around January. Most student lets are 12 months long and normally have 2 months rent to pay before the first lot of student loan comes in in second year. Its something alot of people don't budget for so he's fortunate to be in a position to where it looks like he can cover it.

Lokolo

Dantheman1212 wrote: »

Loko , you need to get a life mate. Of course he will be in debt we are on about if he does it this way he doesnt have to worry as he is getting a job / his own money / allowance and he is well sorted with just personal money to think about, he is well clued up he knows he will have to pay loan back and tuition fee back after 3 years but he wants to enjoy the three years and never have the need to use his overdraft on his student account or run up any extra debts along the way. He is going to be in debt Loko you are right so can you now please release me let me go...

Dano.

It wasn't a "I am right, you are wrong" post, I was just trying to gather what you meant by "not in debt" because your post confused me a little.

Also some tips; don't buy toasters, sandwich maker things, anything shared. Otherwise he'll end up with 5 of them in his hall. :cool:

And don't bother with an iron, it'll never get used.

But yes, as my original post, £200 will be more than enough for him a month. £80 on good, £50 on going out (although thats quite a lot), the rest on travel and such. If he is going to get a PT job then it could just supplement his going out fund.

eklynne

Pfft, no wonder glaswegian men are losing their hardman image

I really don't get the hand holding thing. I am from Glasgow, Glaswegian parents and I went to college when I was 18 in Carlisle. Guess what I got from my parents? Nada, that's what. Fair enough there were no mobile phones, laptops etc but I worked and had a grant and that was it.
Social engineering has made parents feel that they are obligated to fund their kids even though they are now adults themselves. My daughter is 15 and has a job that earns her £45 a week, as did I when I was a teen.
You ARE mollycoddling your son, regardless of what you say, and I feel your thread is all about patting yourself on the back. Let the guy find his own way, make his own mistakes. If you don't he'll never be a real man.

ps, there are young students at my uni who get no financial help whatsoever from their parents, it can be done!

melancholly

well, all sympathy went out the window when the OP started insulting Lokolo.....! having helpful parents is great.... having parents who will give advice and explain why some decisions are better than others and who teach the value of money is priceless! having parents make every decision and take full financial control isn't good for the long game. only the OP can know which side of the line they fall.

i guess this board is full of people who have been through uni and can offer some advice on how to make the best decisions from their own experience, from the experience of their friends and from reading other threads on this board. whether others choose to take advantage is up to them.

MrTomato

I simply cannot understand how you don't trust him to pay his own accommodation, but you do trust him to give you that exact same amount of money to you to pay for his accommodation.

I also cannot understand how Birmingham can charge £5400 for accommodation. I'll be paying less than that in London.

mumps

I can remember getting all the "don't do it for them" on here when my daughter was off to uni. Well all went well, she is really money savvy, has no debt and money in the bank. She has a good job in holidays and gets money from me also works at uni. She has just got back from volunteering in India and working flat out for the next month to put away £1,500 for new term. Next year should be easier for your son as his halls are expensive and next year will probably be cheaper.

Hope your son enjoys Birmingham, my son is taking a gap year but hopefully will be off to Brum in 12 months.

Fiddlestick

eklynne wrote: »

=
I really don't get the hand holding thing. I am from Glasgow, Glaswegian parents and I went to college when I was 18 in Carlisle. Guess what I got from my parents? Nada, that's what. Fair enough there were no mobile phones, laptops etc but I worked and had a grant and that was it.

Bingo.

I'm Glasgow born and bred and when I went to University at 17 I didn't get any help or money from my parents - there wasn't any money to give me :rotfl:

You ARE mollycoddling your son, regardless of what you say, and I feel your thread is all about patting yourself on the back. Let the guy find his own way, make his own mistakes. If you don't he'll never be a real man.

Quite agree.

ps, there are young students at my uni who get no financial help whatsoever from their parents, it can be done!

That was me, once upon a time.

Sure I made mistakes along the way, but there was no Bank of Mum and Dad to help me out - if I wanted something I had to earn it myself.

Indie_Kid

melancholly wrote: »

well, all sympathy went out the window when the OP started insulting Lokolo.....! having helpful parents is great.... having parents who will give advice and explain why some decisions are better than others and who teach the value of money is priceless!

My paents did this. I've come out of my first year with no debt other than student loan (I did use my overdraft because loan didn't come through on time - paid that back) and my parents only sorted out my insurance - I was justa dded to theirs.

namakemono

OK, I don't really understand all of this thread. OP, you're paying for your son's accommodation out of his money? Have I understood that right? And then you want to pay for everything else? Out of his money or your own? I'm confused. Sorry if I've got the wrong end of the stick but your posts aren't the clearest.

I think it's good that you want to help your son out while he's at university, that's not up for debate. But most students receiving more than the minimum loan don't need a lot of help anyway. Many people I know who do receive help from their parents just have their food paid for. The rest that they want to spend comes out of their loans/wages/whatever.

Just for the record I don't receive any regular help from my parents, fair enough I've used my overdraft but most student overdrafts have a graduate payment scheme afterwards so you're not stung by it all suddenly having interest.