Desperate for money - what else can I do?!

crazy_guy

Matched Betting! (forum on this site dedicated to it) has been supporting me through uni for this final yr ! take a look!

kittiwoz

Soma wrote:

Hi
I am on a MSc course and my barclays bank switched my graduate account back to a student acount for me. All I had to do was show them my offer letter which stated that the course was full time. This reduced my overdraft rate back to 0%. Maybe this could help you?

Yes. This is just what I was going to say. I actually got a bigger overdaft in my fourth year at uni with barclays. Do the banks realise you are still a full time student? If they do then maybe you should think about switching banks. Do talk to barclays and make sure you would get a nice fat interest free overdraft even though you haven't been banking with them as an undergrad before you do that though.

I think you could cut your going out expenses by going out less often, going to cheaper places, drinking less, drinking cordial at least in alternation with other drinks when you go out, drinking before you go out if it is a big night out, using public transport if you are taking taxis or walking if you are going out with your housemates. Also nights in are a good substitute for nights out, cheaper and often more fun. Try and make it a bit of a "thing" with your close mates to have a little gathering at someones house regularly, get some booze and some pop from Aldi or Lidl and do something together like cook a meal, or just have snack food like chips and dips, watch a DVD or play singstar or twister or board-games, or just have a good old chat.

Do you cook from scratch or do you use packets and jars of sauce etc., or worse buy ready meals? If you don't cook from scratch you will be able to save money by doing so. If you don't like to cook for one person you can make a big batch, portion it and freeze it for later. Do you eat meat and if so how often? Meat is a very expensive form of protein and if you can shift your diet to one that is more vegetable based and uses more beans and lentils (especially dried ones) for protein you can save quite a lot. If any of this paragraph applies then try the Money Saving Old Style forum for advice.

If what you really want is casual work could you offer your services to staff and students at your uni as a babysitter, gardener, odd-job man, dog walker, seamstress or take in ironing etc?

CrispyUK

crazy_guy wrote:

Matched Betting! (forum on this site dedicated to it) has been supporting me through uni for this final yr ! take a look!

How much do you find yourself making from it? And for how much work on your part?

It's not something I've got time to look into at the moment with coursework and placement applications going off but I'll get a good 6 week break at Easter so considering having a go if it's worth it to help minimise some debt!

Karnam

supersezzie wrote:

I have two overdrafts which I've counted as available money in my budget - both are nearly maxed out at £2k and because I am in my 4th year, they have lowered the interest free limit so I am being charged about £10 a month interest on those now as well. These are with Natwest and RBS. I also have the maximum £8k career development loan. I applied last month to the hardship fund and got nothing though I've been looking at the post about that so I may appeal it. Does anyone have any suggestions?! I've been tempted to get another student account and overdraft but is 3 just WAY too many?! I felt bad getting the second cos you have to declare it's your only one. Would a credit card be a better option?

this is ILLEGAL. to lie on a form applying for a student overdraft account that explicitly says it must be your only student overdraft is FRAUD.

get a job, sell everything you own (my room at the end of 2nd year was quite bare) and beg and borrow all you can. personally if i were you id get out the credit card, its a last resort but if you are nearly finishing your degree then why not? its only for a few months and so long as you are disciplined can be paid back pretty soon.

findingmyownway

CrispyUK wrote:

I'll get a good 6 week break at Easter so considering having a go if it's worth it to help minimise some debt!

You can earn a lot of money in 6 weeks! Get a temp job sorted out?

supersezzie

Hi everyone, wow thanks for all the responses!! I'm loving the singstar idea as I have that and have been nagging people to come round for a party for ages lol! I'm working on the giving up the drink thing - it's hard though knowing I've only got a year here so I don't wanna miss out on the fun as I've made some great friends. On a more positive note, I got a job today, yay! It doesn't start til mid march tho and the ad said it was only until the end of March so I'm seriously hoping they extend that contract! I will def sign up for Pigsback and what's this matched betting? I've never heard of it. Also, can you tell me who you are registered to do mystery shopping with as I have thought about that? (Sorry to talk as if you're all the same person! I know these comments were all from diff people but there were a lot to respond to!). I am registered with Tesco clubcard and Boots advantage card already. Oh, and I'm a veggie so no money goes on meat .

OK, here's my budget - I actually ran out of money for the rent this week cos I spent too much on a suit but it got me the job so it had to be done.

Outgoings (per month):
£60 Course fees
£240 Rent
£83 Paying off for a home learning course I did
£15 Mobile (I think this is a good deal with 02 - I got it years ago when phones were a bit cheaper and get 500 free texts and 500 free mins so I haven't changed cos they don't offer such a cheap deal anymore - once I switch I've lost it - also, I am tied to their contract until Aug at least).
£32 Travel - I have the travelcard to save me 50p a day on bus fare and I could technically walk but it's about 40 mins through slightly dodgy areas so I was waiting til it's lighter. I spose I have no excuse though except I'm late for everything! I tend to ravel most days so at £2 a day Im actually spending £48 a month.
£40 Food.
£10 Bills
£80 Luxuries/Going out

Incomings:
Nothing! Lol. OK I have the tiniest amount - the next months money pretty much...
£460 in the banks (well, available overdraft).
£300 in premium bonds.

My bills come out at the start of the month so I have enough to pay the rent and loan at the start of March and April but then I need to find the money for the next 3 months as my house is until July (and I can't move as I'm contracted to live here, and when I looked halls were more expensive). I also hate that I'm gonna have to withdraw my premium bonds (I'll wait til after the March draw) as they were my one hope for a miracle! This job is at £8.80ph for 15 hours a week so I will get about £360 from it which I guess is another month just covered and if the contract is for longer (and it can't possibly be just 2 weeks) then I'll be fine. Does anyone know if they will tax me on that? It will be 15 hours a week. Even if I get a rebate later, I really hope that doesn't happen as I need the money now! Also, I am in the process of selling everything I own on eBay!

OK I've talked too much! Thanks so much for the advice you've all given,

Sarah

r.mac_2

First of all well done on getting the job!

You shouldn't be taxed other than NI on the job as you are a student, but even if you are you can get a rebate (at the end of the tax year - April) so all is not lost!

can you outline what is covered by your bills - is this gas, electric, water etc?

If so thats good - are you sure you have allocated enough???

Your outgoings look well minimised. And you have made a start at maximising your income. My next suggestion is have you approached the welfare/advice department of your university about a hardship loan. All universities have this and you may find that you are eligible.

Do you have a student loan? You might want to consider this.

What about a job for the holidays? Will your new job carry on and become full time over the holidays?

Sorry for all the questions! Kepe going you are doing well xxx

supersezzie

Hi r.mac, thanks for the reply. I am in a shared house with 7 people so the bills are pretty low between us, although that is just a guess, but I seem to have to put about £30 into an account every 3 months so it seems about right (it's gas, electricity, water and internet). Also, I don't want to switch because it's in other people's names and it would be putting a lot of hassle on them. I do keep overspending on the £20 a week allowance just cos I like to have a hot lunch at uni and that barely leaves enough for a trip to the cinema let alone a night out, but im working on the packed lunch thing lol. I got rejected for the hardship fund and phoned up today and she said theres no way I can appeal cos I won't get it - they assume postgrads will have provided sufficient funding for themselves that works out at £5900 so since they worked out my expenses as £5100 they wont give me anything, even though I only had £5000 funding in the first place. It seems ridiculous to me - a hardship fund that won't pay up cos it assumes people will have enough money! OH well, I spose I'm just bitter! As a postgrad, I'm not eligible for a student loan, only a career development loan, of which I already have the maximum £8k! I think I'm just going to have to wait, see and hope that my job carries on for longer and that I do it well enough for them to keep me! I really can't see any other way to make any money. I've signed up for loads of survey sites but don't seem to be getting anything through. Woah, long reply, sorry! Sarah.

Ytaya

If you do get taxed on your wages, you can ask for a rebate straight away - call the Inland Revenue, fill in a form and it's through pretty quickly. Mine was about two weeks (this was over 2 years ago, mind). I was pleasantly surprised at how efficient and user-friendly the service was!

I think there's a form you can sign when you start your job, saying you won't be earning over your personal allowance this year and not to tax you. Look into it.

Start walking! If you're spending £48/month on travel, that's 20% of your rent, right there! And start taking packed lunches! £20/week on goodies is a lot more than you can afford. I know you didn't want to hear that. Packed lunches will save you an absolute fortune - I can do a week of sandwiches or something for about the same as one hot meal on campus.

Hate to say it, but you're probably going to have to cut back on the going out, too. Maybe have nights in with your friends, instead of nights out? Get together and watch a DVD or something, tell people to bring their own booze, nice and sociable and a lot cheaper.

Have you tried your student careers centre for student-friendly jobs? Also try the student union - ours has a separate advice centre and employs students for bar work, cloakroom work, etc.

How much is your home learning course debt? You could try applying for a credit card and paying it off, then just make minimum payments on the cc while money is tight? You might not reduce your debt (or even your interest rate), but you could reduce your monthly payments in the short term.

Hope you figure something out!

kittiwoz

Packed lunches look like a definite saver for you. If you like to have a hot lunch consider getting a wide mouthed thermos flask so you can make your own. Especially good value if it is yesterdays left over dinner.

You're spending a lot on transport so I think you should walk at least some of the time or consider getting a bike. I have saved loads in transport cost since I got my bike. It cost me £20 from a car boot sale and it paid for itself inside a month. You might not be able to find one that cheap but there are a lot of second hand bikes around so you shouldn't have to pay much, you might even find one on freecycle. Cycling is much faster than walking and you may even find you enjoy it, much to my surprise I did.

supersezzie wrote:

I'm working on the giving up the drink thing - it's hard though knowing I've only got a year here so I don't wanna miss out on the fun as I've made some great friends.

Just remember, it is the company of your friends you need to have fun, not the alcohol. Also you don't have to always be having big, mad nights out or huge parties to have a social life. I like those occasionally but I really like more intimate gatherings and the opportunity to have a real heart-to-heart or just be very silly with a few of my closest friends.