MSE Blog: Student living to prudent living – how a shock taught me a money lesson

Hi all, this is a thread to discuss the MSE blog:
Student living to prudent living – how a shock taught me a money lesson

"They say university is the beginning of your adulthood, but I beg to differ..."

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  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    Sorry Zoirca but I really do not have any sympathy.
    Ultimately, we’re all responsible for ourselves, but how can you be responsible when you don’t have the tools or the basic understanding?

    You mean you stopped using an account, and didn't even LOG in in 5 months to see you went over your OD limit and you are blaming tools and lack of understanding?!

    The majority of banking and finance is out there. All you have to do is look.

    I am glad you got it sorted though.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    First Post Combo Breaker
    I think most of us who answer what we would consider the most basic finance questions on here would agree with Martin's campaign to get financial education introduced in schools.

    But I have to agree with Lokolo that the only person responsible for the state that your finances got into is you - most people don't get in that sort of mess despite having to exist in a similar environment to you.
  • I really regret my University days when it comes to money - I was fortunate enough to not pay any student fees, received a grant from the council on top of my student loan (this was 1997) AND had interest-free overdrafts on my student current account.

    And I blew so much of it so stupidly.

    I'm not even talking about the purchase of the TV and hi-fi (at least they had life) but the amount we spent on take-away and going out all the time just spending money on alcohol and shopping that just was not needed.

    It was only in the last year when I lived with in a group of five and one of the girls wanted to cook more that I began eating more healthily and much more cheaply.

    If I'd look back now, I'd put a decent curry in the slow cooker at 19:00 on a Friday night and organise some rice as well so when we all arrived home a bit drunk and hungry, there would be some decent food for a tiny fraction of the price of some burger and chips.

    University did not teach me much at all about life's finances - it just got me into financial difficulty for 7/8 years as I sorted it all out.
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