Is it a bad idea to go into my overdraft before uni starts? Watch

e2014
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#1
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So I have some things I need to buy before I start university in two weeks time and was wondering whether it was a bad idea to dip into my £500 interest free overdraft already? I am a bit confused as to how the overdraft actually works - if I spent £100 of it for example, and then Student Finance England paid in £3000 in a few weeks, would it then be taken and leave me with £2900?
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Notoriety
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Yes, if you have -100 in your bank, payment of 3k would leave you with 2.9k in your bank.

Overdrawn means you have less in your account than 0; drawing over any amount you have with the bank.

Whether it makes sense to go into it this early depends upon your individual circumstances.
Last edited by Notoriety; 1 week ago
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Tonic Water
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Do you really not have any other savings? By all means dip into it if you really need to, but remember that the sooner you use it the sooner it will run out.
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Amon-ster
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Yea if you got no other savings that's how it works
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Apachecow
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Do you not have a job? I had loads of money at this point.
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Notoriety
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(Original post by Apachecow)
Do you not have a job? I had loads of money at this point.
It would be a dull world indeed if everyone were ridiculed for not having a life 100% identical to Apachecow's.
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