Art_student's SOA

Annie_Fanny

Hey there

Welcome to MSE! What a fab forum we have here!

Just my tuppence worth! I did an arts degree - I won't go into that just now!

Are you doing a degree? If so have you got a student current account which normally has a 0% overdraft....

Have you or your hubby incurred any bank charges if so claim them back! http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1141050760,24632,

Any accounts that have standard monthly charges you need to bin them off and go with the accounts that have no frills unless of course you are certain that you are benefitting from the perks, i.e. break down cover etc.

Who is the broadband with?

Good luck to you!

Annie

art_student

Thanks for the post Annie!
I haven't got a 0% overdraft as I was at uni for 2 years and had a student account, then I left and worked full time for 2 years and it was changed to a normal account and now that I am back for my final year at uni I don't think they'll give me a student account again as I had one before. Anyway, my overdraft is not to large so I only pay about £3 per month on it.
I am going to wait until my husband can change his account and then claim back any charges I can from Barclays!!!

Annie_Fanny

art_student wrote: »

I haven't got a 0% overdraft as I was at uni for 2 years and had a student account, then I left and worked full time for 2 years and it was changed to a normal account and now that I am back for my final year at uni I don't think they'll give me a student account again as I had one before. Anyway, my overdraft is not to large so I only pay about £3 per month on it.

Tsk tsk! Let me tell you a thing or two!

I have been there done that. I don't know if it is too late now but I would still approach the bank to see if you can get a student account. I am 32 now and have drawn out the student bank account for as long as possible. Think about it strategically (sp?) It's not just about this year. Student bank accounts give you interest free overdrafts for SEVERAL years (approximately 3 years - this is an absolute blessing) after being a student to ease the blow into 'normal' life. I have done a degree and returned to Uni to do another course. The course is 1 year at uni followed by one year in industry then a final year at uni. I am currently stoozing my £1500 interest free overdraft in a top rate ISA to capitalize on the generosity of my bank! Think about it - it is worth a shot giving them a call. Call the branch that would be most clued up, i.e. the one nearer your uni otherwise they may not be trained in student banking.

£3 a month for banking is still £36 a year and it is better in your pockets (or hopefully ISA!) then theirs...

Hope this helps!

Annie

art_student

You are right but I used their student account once - do you think they'll give it to me again? Worth a try, I suppose.

Annie_Fanny

art_student wrote: »

You are right but I used their student account once - do you think they'll give it to me again? Worth a try, I suppose.

YES! That's what I did. Have been with Lloyd's for about 15 years!

art_student

Nice one! I think I will have to get a letter off my uni to say I am a student so I won't be able to do that til I go back next week - it is so tough being a student! What to do for 4 whole weeks!:rotfl:

poodlehorse

Great news about no charge on your account, and really good advice from Annie. The moral of moneysaving is if you don't ask you don't get. I have learned to always ask for a discount on EVERYTHING and to argue every charge that is going. I can be a right stroppy mare me:rotfl:

One piece of advice I would have is that get into the habit of going through your statements with a fine tooth comb, I used to have a cursory glance at them, then I started going through checking every line and querying what I didn't recognise. This makes you very aware of funny little charges turning up etc and you spot dead direct debits etc. Also I have online banking and I can go in and check any time I want how my account is. I found this really inspiring. To start with it is just to check how much has come off and how much is left and make sure there are not going to be any nasty surprises at the end of the month etc but eventually when you start making progress it is great to see that debt reducing and then the joy of seeing the savings increase. I transfer any unused cash in the account every month straight into savings (used to be into the mortgage overpayments) however little it is and what a buzz that gives you watching it go in. DH was amazed how much belt tightening I could do but when you can see the results like that it inspires you to do more. And it feels more satisfying to me to do that myself online than to ask a member of staff to do it in the branch or on the phone, I don't know just another silly little pysychological trick I play with myself.

Annie_Fanny

Duplicate post - sorry!

art_student

Go, Poodlehorse, get those discounts!:T So true about online banking!

Annie Fanny - just rang my bank and they said there should be no problem with me opening a new student account and are sending me the forms. As I am 3rd year, I should be able to open it with the 3rd year overdraft entitlement which I will use to pay off my hubby's overdraft and then he can downgrade his account to one without charges and we will save about £25 per month!:T

Annie_Fanny

art_student wrote: »

Go, Poodlehorse, get those discounts!:T So true about online banking!

Annie Fanny - just rang my bank and they said there should be no problem with me opening a new student account and are sending me the forms. As I am 3rd year, I should be able to open it with the 3rd year overdraft entitlement which I will use to pay off my hubby's overdraft and then he can downgrade his account to one without charges and we will save about £25 per month!:T

Wow I am made up for you. It is so nice when someone acts on your advice. Don't forget that the 0% overdraft will stay with you for a few years as well so it is super handy.

I am beaming!

Little actions like you have just done do pay off and it all adds up in the long run.