Hey people lets get this Uni thang going...

Amanda65

sh1305 wrote: »

I was able to pay my rent as soon as my loan came in. I had 2 bank accounts - one which I put all my rent into and another (current account) that I used for general living costs.

This is exactly what DD1 and I were talking about her doing over the weekend She has always worked and tbh should have a lot more money in the bank than she after a summer of working quite hard, but has had a lovely summer going away with friends, buying a new Iphone, running her car and adding to her wardrobe as she knows that as from the middle of September she will have to be on a very tight budget.

She felt that having her maintenance loan and the top up we will need to give her to cover her rent (doesn't qualify for full loan) in one account and only using that for her rent means that she won't have to worry that she has 'accidentally' overspent on a night out the worst that will happen is she has to eat frugally towards the end of each month

westiea

Got a headache trying to follow this thread!!:rotfl:

Just wanted to say DD and I use this 'Sainsbury’s Meal Ticket' card - emergency use only!

ultimatedingbat

I did this too. I have 3 accounts:

My debit card account wherem y day to day spending goes
My "holding account" where all my money is kept and I have to transfer money to my spending account
my savings account where all the spare goes

adelight

I think a big part of my first year at Uni was learning to budget. Don't look after that grand for him, he should budget it! That would allow him about £25pw over the academic year, which is okay for absolute basic living. Basic food(and learning to cook if he can't already) and £1.25 a pint night at the Gun Barrels near the Uni. If he wants to live a more extravagant lifestyle or go on holidays he should work for it, thought giving him an allowance to begin with is a good idea and exactly what my parents did for the first term until I found work. He sounds pretty kitted out, so he might just need a bit of a "lump sum" to buy basic stationary. Course books are available to use and borrow at the Uni library and often online too, so buying all the expensive course books is often unnecessary, unless you can get one or two essential books for cheap/second hand.
I'm from Birmingham but go to Uni elsewhere There are SO many job opportunities in Birmingham, the big Bull Ring and Merry Hill shopping centres are always hiring and are easy to get to by bus from Selly Oak. There are local high streets and job opportunities everywhere, and if he's got experience it shouldn't be too difficult for him to get something by Christmas, even if it's just Christmas Temp work for a lump of cash to budget(I prefer this, it's good if you have a heavy work load during the term). As Birmingham is so big, he'll probably have to get buses sometimes or a bus pass(£13 a week? less monthly or termly) if he's getting the bus more than 3 days per week. But lovely Birmingham Uni provide free buses in and out of town, so no need for extortionate taxis after a night out which makes going out very cheap(lots of the student nights could cost him about a tenner!).

Carnaby_lamb

Youre in luck, Im at Birmingham Uni.

The uni run our halls and its all worked out internally, so the payments are 10 days or so after SLC. You sort out your payment methods when you get acomm offer. And if you dont get paid it, the uni delay the payments.


1. Refund your insurance. The halls all have endsleigh insurance covered in the cost. I can prob send you the exact link if you want to check cover.
2. Is he meal plan? Although im presuming at the 5k not, so youll need 7days not 2 days worth of meals.
3. The city is quite cheap. So £50/week should be fine.
Mason- Im sorry. Its overpriced and not that great. The wet room will prob flood, and there is no real wardrobe, but will prob be ok for DS, not DDs tho.
Bring an ethernet cable, we dont get wireless.
4. Get him to the guild for jobs, its on the left of the courtyard in the shiny new studev section. i think there may be a job fair near freshers too tho.

hbk619

mumps wrote: »

My daughter accepts money from me and she isn't overdrawn and has £7,600 in savings. She also saved when doing her A levels and paid for driving lessons and a car. Over the last three years she has also paid for holidays in Russia, India, Egypt, Greece and Italy. Not everyone is the same, something you may learn but perhaps not at university.

She doesn't do a placement year on her course. Do you get paid on your placement?

I get £15k before tax for my placement (the highest paying placement offered), wish I got the 2k bonus lokolo got! I could earn more being a team leader at Tesco, a posistion I've been offered twice for this year but I'm sticking with the longterm idea of the experience will help.

As I said, I may be the only student i know who isn't overdrawn. Congrats to your daughter, we're obviously like-minded with money management, I just prefer knowing I've earnt all mine via work and interest from banks (yes I use Martins suggestions for savings accounts). Mainly because if I'd bought my car/laptop/holidays with money from my folks it'd be theirs not mine.

And believe me I know everyone is not the same. I learnt that in primary school.

7891368

hbk619 wrote: »

As I said, I may be the only student i know who isn't overdrawn.

I'm not either :P But I've only completed my first year.

Indie_Kid

7891368 wrote: »

I'm not either :P But I've only completed my first year.

Same here! well, I used some of my overdraft; but haven't needed it since my loan came through.

hbk619

7891368 wrote: »

I'm not either :P But I've only completed my first year.

Congratulations, that's the hardest one normally, money wise.