money for the future

Chump101

Hi MoneySavers
My university course entitles me to a bursury of £3k/year.
But I don't see the point in just spending it all on student life?
Unfortunately a savings account isn't an option for me, neither is anything relying on interest as a reward...which narrows down my options...
How can I put this money to good use?

Aegis

Chump101 wrote: »

Hi MoneySavers
My university course entitles me to a bursury of £3k/year.
But I don't see the point in just spending it all on student life?
Unfortunately a savings account isn't an option for me, neither is anything relying on interest as a reward...which narrows down my options...
How can I put this money to good use?

Why isn't a savings account an option for you?

Chump101

the savings account use high interest, I don't want to go down an 'earning interest' route
hence my options are limited, any ideas?

chesky369

Isa..................

nicko33

Use it to further your education.
What course are you doing?

Aegis

Chump101 wrote: »

the savings account use high interest, I don't want to go down an 'earning interest' route
hence my options are limited, any ideas?

Is the desire not to be earning interest from an ethical or religious objection, or is there some other reason you don't want to earn interest?

Not wanting to do so really makes it hard to recommend anything, as pretty much everything safe is ruled out...

Chump101

Hi Aegis
yes, it is for ethical/religous reasons; which rules out a lot, but there must still be some options.....

Badger_Lady

What are you living on? Don't you need it for rent / food / learning materials?

Chump101

I have a student loan and money I saved up from previous work to cover living expenses

[Deleted User]

Let me get this right, you are happy to pay the interest on a student loan in the future, but you don't want to spend your bursary or collect interest in it?

How about buying shares with your bursary? It's an investment in a company, and hence not interest if the company's shares go up (or down).

Badger_Lady

I'm sorry, I'm just a little bit confused - maybe just missing the point.

On the face of it, I would use the bursary to reduce the amount of loan..? Particularly if you don't believe in interest, wouldn't it be better to have fewer debts than a larger debt combined with savings?