Is it possible to get my entire maintenance loan in september? (got my answer its no)

Watch
Ghostlady
Badges: 20
Rep:
?
#41
Report 6 days ago
#41
(Original post by annag2001)
Due to big expenses at the start of the year (buying new household essentials, getting a new laptop and wanting to pay off all my rent at the start of the year) I created a budget that covers all these expenses, allows me to save a fair amount for emergencies (the amount i can have saved is nothing to sniff at and includes enough to keep me going over summer in case i cant get a job - just highlighting that this is some genuine thought out serious money management), and still gives me a good amount to use for buying nonessentials.

However I have only just learned that we get our maintenance loan (from the government) in three parts each term. This puts a spanner in the works for me, as it will mean during the first term i will barely be able to eat, and in the last term have more money than i know what to do with. I can redo my budget and work something out, but having things hanging over me (owing family/friends money and not knowing my rent is paid and done) will cause a LOT of stress.

Is there a way for me to get my entire maintenance loan from the government all at once in September?
Re household essentials, you could get away with taking things like your current duvet and duvet set + pillows. perhaps take a couple of knives and forks each and 2 plates , 2 bowls etc from your family. That would save you a bit. not many people have 'spare' pans so you could get 1 pan and frying pan.
Laptop wise you can get a half decent one round 250 mark. you don't want an emmc laptop. we had one of them and its got no memory hardly to do an update. ssd or hdd are better.

Also if you have a student bank account, you can choose one that has an overdraft you can pay back with no interest. https://www.savethestudent.org/money...-accounts.html Hsbc has 1k for first year, then limit goes up to 2k second year 3k third year.
0
reply
999tigger
Badges: 19
#42
Report 6 days ago
#42
(Original post by gigaberry)
Again, even if people were taught how to budget blah blah blah it's in SFEs own interest to not give it to people all in one go. They are there to do you a favour, but regardless of the situation, they will do themselves the favour more. They are a business after all.
Btw the way you have written that is hardly intelligible.

Your suggestion is a recipe for disaster.and hopelessly naive about how finance and students work.
0
reply
UnwantedKid
Badges: 14
Rep:
?
#43
Report 6 days ago
#43
(Original post by 999tigger)
Btw the way you have written that is hardly intelligible.

Your suggestion is a recipe for disaster.and hopelessly naive about how finance and students work.
What suggestion?
0
reply
999tigger
Badges: 19
#44
Report 6 days ago
#44
(Original post by gigaberry)
What suggestion?
Oh I thought you were the OP as they are the only person I addressed.
0
reply
Realitysreflexx
Badges: 22
Rep:
?
#45
Report 6 days ago
#45
(Original post by annag2001)
£2600 when my entire loan is £9000 is nothing to sniff at, and i want that money put aside so that if there is an emergency next year when i move out of halls and start paying full rent i wont starve.

even as a proper adult £2600 is a lot of money, my household income is currently £12000

saying £2600 isnt a large amount of money comes across way more arrogant than being happy about saving that much

im not getting cocky about saving, im being proud that i can get that much together for emergencies, because my whole life weve never managed to get any proper savings together until my gap year
Wow...well good for you. But sorry to break it to you but £2,600 is not really very much money. And once again that's not really the point. The point is your talking about how your finances aren't "anything to sniff at" 😅 when it's not really your money you've earned.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

What are you most likely to do if you don't get the grades you were expecting?

Go through Clearing (160)
38.55%
Take autumn exams (126)
30.36%
Look for a job (15)
3.61%
Consider an apprenticeship (18)
4.34%
Take a year out (70)
16.87%
Something else (let us know in the thread!) (26)
6.27%

Watched Threads

View All