Chasing the debt free daydream...

Winnie_in_Pooh

Thanks guys! Feeling very determined today, just hoping it will stick around!

Because I'm self-managing what can only be described loosely as a DMP, I have got a certain amount of flexibility when it comes to increasing payments on an ad-hoc basis, although I accept that that isn't strictly "fair". My current thinking is that it will probably be best to maintain the status quo - the debt collectors are all being very quiet and even vaguely helpful on the occasion I need to communicate with them - and then save up for full and finals whilst reclaiming whatever I can get my mitts on! The biggest downside to this course of action is the actual saving bit. We're not very good at that but of course we could always get good at it, with a little practice of course :rotfl:

Winnie_in_Pooh

With my new found determination pushing me forward I thought I'd give the future a bit of a think while I was at it!

My current job is as manager of the local chip shop for between 16 and 20 hours per week. Its a nasty job, smelly, hot and very hard work for not a great deal of financial reward, but it's 30 seconds walk from my front door and the hours fit in around school perfectly (on a full weekday shift you get a break from 2pm til 4pm). I've worked there for 18 months, although I've been signed off pretty much since I fell pregnant, but my boss is keeping my job open for me. At the moment I plan to take 6 months maternity leave (or as long as I get maternity pay for) which takes me to about April 2012. I've got to be honest, I hadn't planned on going back to the chip shop at the end of maternity pay. I intended to go back to work, and probably full time, just definitely not that chip shop.

However, today's brainwave may have changed my mind. I think I've decided to go to university in September 2012. The timing is just too good to ignore - bear with me a little, if you will. September 2012 will see DS1 going to comprehensive school which he won't need to be collected from at 3pm because he can walk either home or to the college where I will be (which is next door to the comprehensive school). There is a creche on the college site which offers reduced fees to students for the baby. Having done a bit of reading about student finance today, I figure I'll be eligible for living costs loan and grant worth somewhere between £6,000 and £7,650 a year. Plus there are college bursaries and other funds administered by the university itself for childcare and supporting adult learning which I'd need to apply for when I enrol on a course. Most full time degree courses are actually only taught on 3 days a week, which would give me another couple of days and the weekend to work if needs be. This is where the chippy comes back into it. My boss would probably be happy to give me the weekend shifts which equates to about 16 hours a week, or just over £5,000 a year. An average full time basic admin type job locally pays anything from £11k to £15k a year. So basically, by going to college and claiming my full allowance of loans and grants and keeping my 16hours a week at the chippy my income would be equivalent to working full time AND my actual take home pay would be higher because I wouldn't be paying income tax and I wouldn't have to deduct the cost of full time childcare for the baby - IYSWIM?

If you're still with me, there is a little bit more to add! Obviously as a student I would have school holidays off, so wouldn't need childcare for DS1 during the holidays (he'll still only be 12 in the first year). And because the baby will be nearly 1 in September 2012 this means that when I finish my degree in 3 years time, he'll be nearly 4 and therefore about to go to school which coincides nicely with me being ready to get into full time work!

Phew! Well I knackered myself out typing all that! Any input/comments/things I've overlooked will be very welcome!

Hovel_lady

Sounds like a good plan with timings and everything. I'm assuming you've thought about fees for uni? I know they're going up soon (not sure when), some places to £9k a year.
Do you know what you would like to study?
It must be very exciting for you - I often wonder how different my life would be now if I'd gone to uni. Not that I'm complaining, just wondering.
Good luck :T

Winnie_in_Pooh

Hovel_lady wrote: »

Sounds like a good plan with timings and everything. I'm assuming you've thought about fees for uni? I know they're going up soon (not sure when), some places to £9k a year.
Do you know what you would like to study?
It must be very exciting for you - I often wonder how different my life would be now if I'd gone to uni. Not that I'm complaining, just wondering.
Good luck :T

Thanks Hovel Lady

The fees at my local uni are going up to £6k a year from Sept 2012 which is sort of another reason for my wanting to start it then - because who knows when they'll decide to push the fees up to the full £9k. Thats just a scary amount of money.

I think I would go down the IT route. I worked in IT before being made redundant a couple of years ago so I do have a bit of industrial experience which may be useful when applying. The local uni doesn't run an enormous range of courses from the campus near where I live, which does narrow down my choices a bit! I have lots of time to do lots of research and make my mind up too

mum2one

That sounds an amazing plan, I'm currently doing a degree with Open Uni, I could have done it through my local college, but this way i have some flexbility, and its brilliant, whether it will get used on the job market is another thing, but if you'd of told me at 30, that at 40, I'd have a foundation degree on route to a BA Hons, I would have laughed my head off.... but I'm doing it.

You've looked at all the options, just go for it. xx

Winnie_in_Pooh

mum2one wrote: »

That sounds an amazing plan, I'm currently doing a degree with Open Uni, I could have done it through my local college, but this way i have some flexbility, and its brilliant, whether it will get used on the job market is another thing, but if you'd of told me at 30, that at 40, I'd have a foundation degree on route to a BA Hons, I would have laughed my head off.... but I'm doing it.

You've looked at all the options, just go for it. xx

Thanks Mum2one I think I will go for it - how exciting :j!! What are you studying?

I spent a happy couple of hours researching degree courses last night - there are 3 or 4 that look really good and accept applications from mature students. Unfortunately the IT degree that I'd be interested in is only run as an FdSc at the local college and the final year is based in Plymouth so might not be the best option. They do however offer an FdA in Events Management which can be topped up to BAHons in Business Enterprise - which might be an alternative. Just need to make a decision what I want to do once I've got the degree!

On the debt front, I had a chat to DH about it last night and he likes the idea of clearing them one at a time, which I think I agree with mainly for the motivation factor. Plus if we can get some of the charges back it will reduce the time we're repaying even further. Will do some more reading into reclaiming today and work out where we stand.

Still waiting for the money from the insurance company so need to get hold of them too and find out whats happening because I really want my house straight and back to how it should be!

mum2one

I've gone in different directions with Open Uni, original plan is to get BA Hons Business, but I keep adding courses,

Qualifications-
Certificate in Business
certificate in Law
Foundation degree in Business.

also done marketing courses, financial management, and a sports course, start again in Sept, got Business course, introduction to marketing, and another business, - more hands on pratical - useing business in your environment.
Can't believe this year will be my 6th year of studying, time flies, but I love it. The year after (thats sounds mad), be last 2 big courses, if I pass them, get BA Hons Business.

Def worth looking at Open uni, if you do have to pay for your courses, you can do it through them, its 5% apr.
H

Winnie_in_Pooh

Well, its only just gone 9am on the first day of the holidays and already DS is complaining he's bored! I'm really struggling for things to do with him that are both free (or very cheap) and don't involve walking! He's going to my mums/my sisters/his dads/his dads mums over the next few weeks so I've only got him for two weeks at the end of the holiday so will hopefully have a little money to play with then. The biggest downside to living in Cornwall especially at this time of year is that it is next to impossible to get off the drive, nevermind actually go anywhere! Ah well!

Feeling very positive now I have a plan in place. Have more or less decided that the Events Management with Business top up is going to be the way to go, but will do more research once the baby has arrived. There is a careers adviser that specialises in HE at the college so I'll go and have a chat with her before I put my UCAS form in.

Have been looking at family holidays for next year we really fancy a fortnight in Brittany.... does that make me a bad person :o feel guilty for even looking, nevermind for trying to work out how to find the £1600 it would cost :o:o

It's so hard trying to get the balance right between clearing the debt and having a life as a family. I can't help but think that we really deserve a break - especially DH, he works so hard and never gets anything good out of it. He even got told off for buying a £1.75 sandwich for lunch yesterday (especially because he couldn't be bothered to make his own in the morning *roll eyes*) he's very target driven though so maybe a holiday as a reward would make him wake up and smell the coffee when it comes to buying the odd sandwich? Does anyone have the easy answers!?!

Anyway, I'm off to pop a leg of pork in the oven which we'll have for tea with some potato salad and crunchy carrot sticks. Maybe I'll get DS to help make the potato salad... we could even make something nice for pudding... ah knew an idea would pop into my head sometime !

Winnie_in_Pooh

Wooo! Just spoke to the insurance company about the holey ceiling and we should have the pennies to fix it in our account in 3 to 5 days :j:j:j can't wait to get it fixed!

Winnie_in_Pooh

Oh, there was something else I meant to put on here earlier!

Just popped to Tesco for some bits and bobs we needed and fancied some apples. £1.75 for a bag of 6!!!! WFT!!! I need an apple tree!!!