Nice people thread part 6 - thrice by twice as nice :)

YoungBusinessman

Changing the subject to my usual....payday today woo hoo!! Savings now upto £3,040...with aim being £10k by Xmas! On track for a payday next Saturday if I keep up the long hours will get a homer completed by the end of next weekend and hopefully settled up! Should see another £600 or so minus some costs for fuel. Would love to work out my hourly rate when I'm doing well and multiply it over course of a year...sure I would be on a 6 figure salary. One can dream....

chewmylegoff

YoungBusinessman wrote: »

Changing the subject to my usual....payday today woo hoo!! Savings now upto £3,040...with aim being £10k by Xmas! On track for a payday next Saturday if I keep up the long hours will get a homer completed by the end of next weekend and hopefully settled up! Should see another £600 or so minus some costs for fuel. Would love to work out my hourly rate when I'm doing well and multiply it over course of a year...sure I would be on a 6 figure salary. One can dream....

why don't you loan that money to your business and use it to reduce your business debts, then charge your business exactly the same rate of interest it was paying to the bank?

i wonder if you're actually allowed to do this. i should know of course, but i am somewhat out of touch - i can't see any reason why you shouldn't though.

lostinrates

GDB2222 wrote: »

Students - how much is reasonable as a monthly allowance? DS is staying in halls but catering for himself. We'll pay his rent, but I'm not sure how much he needs for food, clothing, etc?

Also, he's going to Edinburgh, from London, and I don't fancy driving him there. (I'm a wuss when it comes to driving.) He wants to take loads of stuff with him, but this isn't very practical by train. Do any NP have a brilliant solution for getting him and his stuff there, not necessarily at the same time?

Edit: And we need insurance cover for his stuff + laptop.

Stuff...man and van, or partial load with removers

Allowance? Um... Wrong person yo ask. I would say clothes budget should be nil.....presumably he has clothes and will visit home at christmas break where he can be taken shopping. Enough to eat certainly ( 30 quid a week? ) but not so much that a cv boosting job still seems like a good idea.

LydiaJ

Interesting how many different ideas there are about this. I would probably tell my kids to concentrate on their academic work in term time, and only earn money for paid work during the holidays. Also, I wouldn't directly pay their rent - I would include enough to cover the rent in what I gave them to live on, and then they could pay it themselves. The idea being to get used to the idea that income looks like a lot of money when it arrives in your account, but an awful lot of it has to go on boring but essential things like rent, so don't get carried away by the initial number. But then, what's helpful for one young adult might not be helpful for a different one. My two are already very different even now, and by the time they leave school they'll probably be even more different. So you'll need to think about what kind of young man your son is, and how he deals with money.

GDB2222

Thanks for your help, guys. DS has actually asked for £600/month allowance, which sounds to be in the right ball-park from what people are saying. He is going to be doing some paid work (4 hours a week) to pay for his football season ticket. Although, why he needs an Arsenal ticket is totally beyond me.

Thanks - we'll look again at freighting some of his stuff up and sending him on the train.

chewmylegoff

GDB2222 wrote: »

Thanks for your help, guys. DS has actually asked for £600/month allowance, which sounds to be in the right ball-park from what people are saying. He is going to be doing some paid work (4 hours a week) to pay for his football season ticket. Although, why he needs an Arsenal ticket is totally beyond me.

Thanks - we'll look again at freighting some of his stuff up and sending him on the train.

how do you use an arsenal season ticket when you are at uni in edinburgh? surely will cost at least £80/100 to get back on the train even with YP railcard and booking months in advance?

or is he just sitting on it so he doesn't have to go on a waiting list to get a season ticket again when he has finished uni?

CKhalvashi

Here's my new one...For YBM

This is going to be 6 CKC in the morning

GDB2222

LydiaJ wrote: »

Interesting how many different ideas there are about this. I would probably tell my kids to concentrate on their academic work in term time, and only earn money for paid work during the holidays. Also, I wouldn't directly pay their rent - I would include enough to cover the rent in what I gave them to live on, and then they could pay it themselves. The idea being to get used to the idea that income looks like a lot of money when it arrives in your account, but an awful lot of it has to go on boring but essential things like rent, so don't get carried away by the initial number. But then, what's helpful for one young adult might not be helpful for a different one. My two are already very different even now, and by the time they leave school they'll probably be even more different. So you'll need to think about what kind of young man your son is, and how he deals with money.

I suspect that it is safer to pay his rent, although I agree with you in principle.

GDB2222

chewmylegoff wrote: »

how do you use an arsenal season ticket when you are at uni in edinburgh? surely will cost at least £80/100 to get back on the train even with YP railcard and booking months in advance?

or is he just sitting on it so he doesn't have to go on a waiting list to get a season ticket again when he has finished uni?

Who knows? He's daft as a brush.

chewmylegoff

LydiaJ wrote: »

Interesting how many different ideas there are about this. I would probably tell my kids to concentrate on their academic work in term time, and only earn money for paid work during the holidays. Also, I wouldn't directly pay their rent - I would include enough to cover the rent in what I gave them to live on, and then they could pay it themselves. The idea being to get used to the idea that income looks like a lot of money when it arrives in your account, but an awful lot of it has to go on boring but essential things like rent, so don't get carried away by the initial number. But then, what's helpful for one young adult might not be helpful for a different one. My two are already very different even now, and by the time they leave school they'll probably be even more different. So you'll need to think about what kind of young man your son is, and how he deals with money.

that is what my parents thought. give him enough money so he doesn't have to work in term time and can concentrate on academic studies.

if they had thought about it a bit more, they would have realised that i wasn't going to be doing a whole lot of work anyway, and forcing me to get a job would have actually eaten into the amount of time i could spend drinking myself into a coma.

it's a bit different in the second and third years where you actually do need to do some academic work, but in the first year when you are just dossing about it's probably a good thing to need to work.