Student Loan: Splash out on booze or save for food?

I use a Google docs excel like spreadsheet to do all my budgeting.
I think blowing it all in one go because you're a complete muppet is incredibly irresponsible and it just a very unattractive and undesirable quality in a person. And as much as these people don't like to believe it, their bad decisions often weigh badly and negatively effect other people too. No one wants a friend like that.

Reply 4

Roving Fish

22

Last year I worked out a monthly budget. I've never had to be too tight with money though as I get more than enough from student finance and also work which brings in around £500 a month.

There are some great budgeting apps, and also banks can tell you how much you've been spending on what (i.e. restaurants, leisure, rent). I use one called OnTrees as HSBC doesn't offer the breakdown thing.

Usually my September maintenance grant goes on clearing my summer spending. I then live off my wages. My maintenance grant always goes on rent. My Jan grant will go on materials for final show this year and then April grant money for a holiday and also a deposit/first months rent on a flat for a hopeful graduate job! :woo:

Reply 5

It's****ingWOODY

Can we not change the poll options from "Splash out on booze" to "I'm an idiot that will always struggle financially" and "Save for food" to "I'm using this time to learn how to handle money so I can wisely manage my money and end up with nice things in the future"?

Reply 6

Original post by WoodyMKC

Can we not change the poll options from "Splash out on booze" to "I'm an idiot that will always struggle financially" and "Save for food" to "I'm using this time to learn how to handle money so I can wisely manage my money and end up with nice things in the future"?

This guy gets it. :tongue:

Reply 7

It's****ingWOODY

Original post by SophieSmall

This guy gets it. :tongue:

Suppose I'm being a bit biased atm really haha, just getting a bit stressed out/pissed off with having to dip into my savings to help out people close to me, who keep getting themselves in bad situations financially because they lack basic budgetting skills and can't stop living beyond their means. If people want nice things they should have worked harder, constantly paying for everything with loans and Littlewoods and constantly being in debt isn't the way forward :angry:

Reply 8

Original post by WoodyMKC

Suppose I'm being a bit biased atm really haha, just getting a bit stressed out/pissed off with having to dip into my savings to help out people close to me, who keep getting themselves in bad situations financially because they lack basic budgetting skills and can't stop living beyond their means. If people want nice things they should have worked harder, constantly paying for everything with loans and Littlewoods and constantly being in debt isn't the way forward :angry:

Trust me I know how you feel. I'm several hundred down due to an idiot who found smoking weed, going out every weekend and just being a generally prick more important than paying his rent.

Honestly, unless you literally have to (such as you becoming legally liable for their share of money such as rent) I'd stop bailing them out. They won't learn anything from it and you'll likely lose money,

Reply 9

MagicNMedicine

Original post by WoodyMKC

Can we not change the poll options from "Splash out on booze" to "I'm an idiot that will always struggle financially" and "Save for food" to "I'm using this time to learn how to handle money so I can wisely manage my money and end up with nice things in the future"?

The problem is some students think it's cool to be broke and think it's cool to go on about how much of a priority alcohol is in their lives.

During Freshers Week, it probably will be thought of as cool to talk like that but after its over the coolness factor diminishes quickly and the students that are still like that start becoming more and more irritating especially if they are complaining about having no money to other students who are in a similar position but have been careful with their money.

The worst type are the ones that call others boring and stiffs and say they should lighten up and live a bit, and then later go moaning to them that they are skint, they will get little sympathy.

Reply 10

It's****ingWOODY

Original post by SophieSmall

Trust me I know how you feel. I'm several hundred down due to an idiot who found smoking weed, going out every weekend and just being a generally prick more important than paying his rent.

Honestly, unless you literally have to (such as you becoming legally liable for their share of money such as rent) I'd stop bailing them out. They won't learn anything from it and you'll likely lose money,

I make them pay me back everything at least, with my mum I just figure, she's over 50 now, she's never gonna learn, I'd rather her owe me money than some debt collectors. But with others I need to just leave them to it I think, I feel like a selfish bastard saying no sometimes but I know I'm not being selfish really.

Reply 11

Original post by WoodyMKC

I make them pay me back everything at least, with my mum I just figure, she's over 50 now, she's never gonna learn, I'd rather her owe me money than some debt collectors. But with others I need to just leave them to it I think, I feel like a selfish bastard saying no sometimes but I know I'm not being selfish really.

Ohhh, I'm the same with I mum. I lend her money...though I of course never ask her to pay me back. Because as much as she wants to she can't. That isn't poor money management though, that's just literally not having enough money to get by. :frown:

My sister pays me back if I lend her money though, now she does have poor money management skills. I'm the youngest in my family yet the most responsible and somehow despite only having the money student finance the most well of financially. It's pretty silly.

For some reason I assumed you were speaking only of friends.

I don't think it's selfish to not give people money if they're clearly not learning and they're making you hard done by. If anything it's selfish of them to expect it.

Reply 12

elen90

12

Original post by WoodyMKC

Can we not change the poll options from "Splash out on booze" to "I'm an idiot that will always struggle financially" and "Save for food" to "I'm using this time to learn how to handle money so I can wisely manage my money and end up with nice things in the future"?

But... booze :dance:

Bit of both

Original post by SophieSmall

Ohhh, I'm the same with I mum. I lend her money...though I of course never ask her to pay me back. Because as much as she wants to she can't. That isn't poor money management though, that's just literally not having enough money to get by. :frown:

My sister pays me back if I lend her money though, now she does have poor money management skills. I'm the youngest in my family yet the most responsible and somehow despite only having the money student finance the most well of financially. It's pretty silly.

For some reason I assumed you were speaking only of friends.

I don't think it's selfish to not give people money if they're clearly not learning and they're making you hard done by. If anything it's selfish of them to expect it.

Nah it's mostly immediate relatives tbh, I lend small amounts of money to my best mate on a "lend us a tenner 'til payday so I can pay my half of the takeaway" type of thing but that's as far as it goes generally. With my relatives though it goes into hundreds and it's mostly because of poor money management and no always being in debt. If you look at how much they get per week they should be fine, but they're not fine because they're constantly paying back for things. I could move into a new place tomorrow, pay the deposit, buy furniture and stuff and not have to take out any loans or anything, and I'd like to keep it that way so I have to make them pay me back. If it was a case of I had to give them the money because I know they can't afford to pay it back then I'd have to let them off I guess, but even if it's 10 or 20 a week back, they can afford that even if they have to make a few cutbacks on luxury spending.

That's the issue really, they've come to expect it, probably half my fault :lol:

Guess now it's a case of gradually lowering those expectations.

Reply 15

Original post by WoodyMKC

Nah it's mostly immediate relatives tbh, I lend small amounts of money to my best mate on a "lend us a tenner 'til payday so I can pay my half of the takeaway" type of thing but that's as far as it goes generally. With my relatives though it goes into hundreds and it's mostly because of poor money management and no always being in debt. If you look at how much they get per week they should be fine, but they're not fine because they're constantly paying back for things. I could move into a new place tomorrow, pay the deposit, buy furniture and stuff and not have to take out any loans or anything, and I'd like to keep it that way so I have to make them pay me back. If it was a case of I had to give them the money because I know they can't afford to pay it back then I'd have to let them off I guess, but even if it's 10 or 20 a week back, they can afford that even if they have to make a few cutbacks on luxury spending.

That's the issue really, they've come to expect it, probably half my fault :lol:

Guess now it's a case of gradually lowering those expectations.

It does really suck when it's your family :/ it's like you do everything you can but it just never stops.

Reply 16

anosmianAcrimony