I have no 'trust fund' as such, rather, money I've saved up from various.. ventures. Money that is 100% mine and which I'll use sensibly. I'd feel bad posting the figure here and chances are I'd just get neg repped or ranted at anyway, so I'm not going to. I would like to say though that I agree with the sentiment that we are adults now and should pay for ourselves mainly, I've been a burden long enough - I know this. I'll be thrifty for now and hopefully if I ever get to where I want to be in life and find myself a multi-millionaire I'll have no problem helping out family and friends financially.
(Original post by C++Hacker)
Nope, I don't have one. Not because my parents/family didn't think of it, but just because financially it was not possible and still isn't. Therefore I just worked hard, did an internship at an investment bank in Abu Dhabi, tried to impress...and I prevailed. They have given me a £100,000 fund for my university education (in return I work for them for 7 years minimum after graduation...lol like as if that is repaying the debt, to me that's just another bonus I have a job and a career sorted now), so I'm glad I could get out of my poor financial predicament.
Now I'm actually glad that I didn't have a trustfund, because then I wouldn't have worked so hard and got this huge funding, which is worth far more than most trustfunds.
Do you know all the details? £100k play money sounds nice in theory but you've got to question the motives of any bulge-bracket investment bank that would hire an undergrad with no exp or degree such as yourself - there's no such thing as a free lunch, right?
I'm unsure as to how it works there, but here an analyst's week can be as much as 90-100 hours.. that's an awful lot. How are you and this IB so sure you'd be able to cope for so long? What division are you going into?
Your grant averages out to around £14.3k per year over the 7 years.. they could still rip you off massively with your pay and more specifically, non-capped bonuses.
(Original post by Jessaay!)
Well that would be nice, but personally, my acommodation is £160 per week minimum, I'll be paying for some books + equipment etc, I'll be spending **** loads if I want any sort of social life in London, and then there is travel expenses and of course tuition fees. I've worked since year 11 at a job at McDonald's but that's hardly given me much money. And I'll be doing medicine so it's more contact hours and less chance of a job so with the current economic crisis I doubt I'd find anywhere willing to take me for only a few hours a week and I'd be living in a cardboard box on the streets of London getting shot at. So it's kind of good I have a trust fund, but mine didn't come from my parents so...
I've still learnt financial responsibility though, my parents only give me money for essential things and I've got to pay for anything I want with my wages, which is a good lesson. But I don't think that in my situation relying on small hourly wages would be possible.
Geez, I feel for you. £160+ p.w is madness, I sincerely hope for that money your accommodation is coming ensuite, fully catered and with a toilet made from 24 carat Brazilian gold, jewel encrusted and all. I can sympathise with you on the job issue, if I were you (i.e a prospective medic) I'd spend my time concentrating on the course during term time though (you need the grades and more than 12 hours work p.w isn't recommended at uni anyway - which doesn't add up to too much £extra). A holiday job might be a better idea? Check out the Natwest students account too, their overdraft/bonuses [i.e the railcard] might be worthwhile for you, and if I remember right they do extra loans for people studying law and medicine. Might be wrong on that one though.
I just had a sneaky peak at the academia on your profile, looks like you worked pretty hard in the jump from GCSE to A Level (I know because I got similar grades haha). Impressive. How did you find the teaching at Holy Cross? I hear it's excellent - only know a handful of people that went there though. I went to BGS so naturally I've been inside HC a few times with friends there (as you do), it looked pretty chilled. Actually I think one time on founders day me and some friends went in in our CCF camoflauge gear (after the big parade)... yeah.. we had one of those 'deathly silence' moments where the entire canteen just shut up and stared, Good times
(Original post by Abhead)
My personal situation is that my mum is too ill to work, my dad was out of work for 3 months recently and about half of the money I earn myself working goes towards family stuff, the other half I either save for university or spend on myself. I've taken a year out to save up for uni. We don't live in poverty by any means, I paid for my brother to go on a residential school trip quite recently for example, but for various reasons we are in quite a lot of debt and there literally isn't any spare cash around at the moment. I went to asda with a big bag of coppers the other day to change in the machine and put towards groceries.
I have brilliant parents, they have always done the best they can for me, but I have never had a savings account set up for me, and even if I had it would have been spent on something more urgent by now.
Probably worth very little but +ve repped you, think people are misunderstanding a lot of what you're putting across (and hence from this day forth I may even have to call people on here that aren't coming across to others clearly... an abhead). Copyright 2009 TM.