College student in need of help fast!

melancholly

sell the car and get a bike?! there are really no quick fix solutions to this situation. you will have to make some tough decisions and prioritise....... only you can decide what stays and what goes, but something is going to have to give.

Romans116

Thank you for all of the suggestions.

I have decided to get a 0% credit card from my own bank.

This will allow me to pay off the car insurance in full and give me time to repay the card.

After working this out I am completely safe, I am blessed enough to have persons who can help me in case of emergency (although I don't like to ask them for anything!).

Thanks again for the suggestions!

Taiko

Not really solving the issue, is it?

As an accounting trainee, you've clearly messed your budgets up. I don't think you'll find the credit card would be good for this, as the cost will outweigh the benefits.

Romans116

Taiko wrote: »

Not really solving the issue, is it?

As an accounting trainee, you've clearly messed your budgets up. I don't think you'll find the credit card would be good for this, as the cost will outweigh the benefits.

I'm not an accounting trainee, I'm a business & accounting student.

Explain how I messed my budgets up...

"I don't think you'll find the credit card would be good for this, as the cost will outweigh the benefits"...
It's 0%, there are no costs as long as the minimum amounts are paid back monthly and the full amount before the end of the 0% period.

I can pay my car insurance all at once without having to suffer the interest from paying monthly.

Simple solution causing no financial difficulties.

The_One_Who

You will struggle to pay it back unless you can increase your income, since at the moment you say you are just managing to get by.

Voyager2002

Romans116 wrote: »

Thank you for all of the suggestions.

I have decided to get a 0% credit card from my own bank.

This will allow me to pay off the car insurance in full and give me time to repay the card.

After working this out I am completely safe, I am blessed enough to have persons who can help me in case of emergency (although I don't like to ask them for anything!).

Thanks again for the suggestions!

First step on the road to disaster. Use of credit would only make sense if you knew where the money to pay if off was coming from.

You are fortunate that family are willing to help: the time to ask for that help is now.

Taiko

Same thing.

You should know that you can't really afford this, you're not solving the problem, just merely shifting it under the carpet. It's like Australia in the days of the empire, but on a smaller scale.

mountainofdebt

I might be missing something but why are you at college studying a subject and then going home and studying a completey different subject at the same time ?

Wouldn't you be better off doing one or the other and if, by the sounds of it you are determined to continue with studying accountancy, wouldn't you be better off getting a job where there was study support?

Romans116

Getting the 0% credit merely buys me the time.

For example, if my car insurance was due in say 4 months, I would easily build up enough money in the mean time to pay it off.

However my situation is I don't have the money right now, therefore I can pay it off with the credit card, make small repayments in the meantime to avoid any penalties. This will give me time to build up cash to repay the card in full when it's due.

Yes mountainofdebt, When it comes to qualifications business & accounting are very similar. Accounting study itself is around 70% business and 30% accounting, so they go hand in hand.

Unfortunately I live in small city in East Yorks and an entry level accounts job rarely pops up, but I would leave college right away if I managed to get an accounts job (which I am trying to do).

[Deleted User]

i would say that the only things that will really help are the ones said above, moving into flat/house share, and selling the car. You really really need to think about whether the car is actually a neseccity or you can really find another way to get to college if you try hard enough?
I agree that the credit card wont really help in the long run though.