[meld79]

Hi everyone,

I'm writing an article on student finance for a magazine which is aimed at students. The article will be an advice piece for students and will cover things like budgeting, bank accounts, credit cards and loans and money saving tips.

I was hoping to hear from anyone with any stories to tell - anyone out there been stung by a commercial loan with ridiculous interest rates? Overspend massively, or fall into the credit card trap? Or is there anyone who is managing his/her finances really well and has lots of tips which could help other students? Or even some 'what not to do' stories for freshers?

It would be great if anyone is able to help.

Thanks in advance,
Mel

[staticrhubarb]

Just read your other thread about binge drinking and thought I'd BUMP this up for you, might get a few more replies if people can see it on the first page?

I haven't really got any financial stories or tips...except the obvious: don't give credit card/debit card details out over the phone or via email.

[Orthala]

Originally Posted by staticrhubarb

I haven't really got any financial stories or tips...except the obvious: don't give credit card/debit card details out over the phone or via email.

Why not over the phone? If you're trying to book Eurostar its pretty hard to pay by cash over the phone. Also, Pizza ordering, if you don't have any cash, how are you going to pay?

[staticrhubarb]

Originally Posted by Orthala

Why not over the phone? If you're trying to book Eurostar its pretty hard to pay by cash over the phone. Also, Pizza ordering, if you don't have any cash, how are you going to pay?

Unless you know the people asking for the details are a reputable company, don't do it!

[alexandraelectra]

i use this website called Studious Enterprises. students make money by finding people they know to do market research.
there are other things you could do to make money easily.
i've earned about 100pounds over the last few months. every little helps..

[Helenia]

Yes, I do, but not because I've been stupid with money, just because I don't get given enough any more. For the first four years of uni (I'm on a 6 year course) I got by just about with my student loan, overdraft and working in the summer holidays for some extra cash. No fancy internships, just steady temping work.

However, I'm now at clinical school, so don't have any summer holidays, and my course doesn't allow me to have a job. The combined NHS bursary/SLC funding that goes on in 5th and subsequent years just allowed me to scrape through last year, but this year the means-testing has changed and I have been allocated less than the total amount of my rent this year. I have a fairly large overdraft, and a Professional Studies Loan (taken out initially to fund my elective, but I actually managed to do that out of savings and a couple of gifts from grandpa/charities), but no idea how I'm going to get through the next year. I'm already an expert at shopping on a budget, but it just gets so depressing having to think about the cost of every single thing, and not just being able to buy something without worrying. On top of this, I have clinical placements about 50 miles away from Cambridge for most of the year and have to pay for petrol to them.

I've not had any problems with the things you mention - I'm not dumb enough to get a credit card or commercial loan when I can't afford to pay them off. I'm just tired of being poor, especially when all my friends are earning loads in the city!

[meld79]

Hi everyone, I really appreciate your help on this thread.

Staticrhubarb - thanks so much for bumping this back up.

I was also wondering how people feel about banks targeting students with credit cards and commercial loans?

Do students get lots of marketing info on this kind of thing? Or, in your experience, have the banks been quite responsibly in your dealings with them?

Would really appreciate any comments.

Thanks again - can't thank you all enough in fact!
Mel

[Helenia]

Originally Posted by meld79

Hi everyone, I really appreciate your help on this thread.

Staticrhubarb - thanks so much for bumping this back up.

I was also wondering how people feel about banks targeting students with credit cards and commercial loans?

Do students get lots of marketing info on this kind of thing? Or, in your experience, have the banks been quite responsibly in your dealings with them?

Would really appreciate any comments.

Thanks again - can't thank you all enough in fact!
Mel

I don't think I've ever been aggressively targetted for credit cards etc. HSBC occasionally try to talk to me about it but they've never been majorly pushy. But it's up to students to be responsible just as much as the banks.

[Brenna]

I'm also using Studious enterprises, seems good to me.

There is also a page at this address:

http://www.studiousenterprises.com/A...Choozz&Id=1914

that does similar things though they're less in depth. Haven't used it myself yet but it seems to be even easier that studious - asking things like what colours you like on album covers, practically giving money away..... or so i've heard

[pongo]

When i created my student account with HSBC they were constantly trying to sign me up for a credit card, but i politely refused and they haven't bothered me since about it .

As for a few tips i would suggest trying not to go into your overdraft for a start. Pretend you don't have it and try to keep within your own finances so that you can save it for a "rainy day".

I have also cut down on nearly everything i could think of. I buy most of the supermarket branded items, boxes of wine instead of bottles and don't go out at night with my credit card so i can't take out more money. I have even found this thing called FishText.com, that gives me really cheap text messages from my phone, not having to top up £10 everyweek really makes a difference!

Saving money can be quite addictive