Crap Finances

Snu · Sun 16 May, 2004 15.52

I know this has been mentioned before, but what the hell. Isn’t money crap!

There simply isn’t enough, I have a £9k loan that I used to pay of my credit cards and to buy a car. But the result is I am paying a heaving £250 a month to pay it off.

What is especially crap is that allegedly I should have about £350 disposable income every month. But even this is not enough! I have little to show for this debt. Does anyone else have similar challenges with their finances?

I have resorted to having a go at the Stock Markets to make a bit of extra cash, which has actually turned out to be quite fun. I feel a bit of a powerhouse doing it. You should try it!

Cheese Head · Sun 16 May, 2004 17.06

Stocks are a very risky business, especially if you dont understand whats going on. We were taught in Business Studies all about Stocks and shares and I still dont fully understand it.

As for my debt, I owe my parents €10.

Chris · Sun 16 May, 2004 17.41

nodnirG kraM wrote:My student debt currently stands at somewhere between £9-10,000. I currently earn £6.30/hour part time and am paying off my student loan, overdraft and credit cards at about £200/month. So it looks like I will be in debt for quite some time to come!!

Jesus christ, it seems like a feckload of money to be in debt with.

On the point of student debts, I am currently nearing the end of my 1st year at college and we now have to make out choices as to what universities and courses to do. Is it worth going to university now?

Read in the papers last week about a vetrinary (sp?) student who left her 5 year course with £40 grands worth of debt, and it will taker her until she is 70 to pay it off

Katherine · Sun 16 May, 2004 18.52

nodnirG kraM wrote:My student debt currently stands at somewhere between £9-10,000. I currently earn £6.30/hour part time and am paying off my student loan, overdraft and credit cards at about £200/month. So it looks like I will be in debt for quite some time to come!!

I'll see if I can get you Alvin Hall's telephone number.....

Aston · Sun 16 May, 2004 22.13

Chris wrote:Read in the papers last week about a vetrinary (sp?) student who left her 5 year course with £40 grands worth of debt, and it will taker her until she is 70 to pay it off

Oh there are always some twats who spend, spend, spend even though they don't have the money and often have no income because they're students.

They'll then happily proclaim to anyone who will listen (often newspapers/other media and fellow students) that they're in massive debts and it's Tony Blair's fault.

NO IT BLOODY WELL ISN'T, it's your fault for spending so much!

Although, it doesn't help that credit card companies are so eager to hand out credit, no matter what their financial situation is.

GO TO UNIVERSITY, but ONLY if it's what you really want to do. However, don't be put off by stupid bints who have stories of rediculous amounts of debt. I'm sure your parents will be more than happy to help you out...

cwathen · Sun 16 May, 2004 23.28

Although, it doesn't help that credit card companies are so eager to hand out credit, no matter what their financial situation is.

I do agree, credit cards are far too easy to obtain these days. At one point, I had no fewer than 3 credit cards, all without any provable income.

As bizarrely as this sounds, 2 of my credit cards came as part of the package of the student bank accounts I have opened - I didn't actually undergo a credit check at all. The third was issued even after I had frequently missed payments on the other two.

Even more bizarrely, after two of my 3 credit cards had been withdrawn, and I was struggling to pay of the 3 separate debts, I then managed to get two store cards.

Eventually, I had to borrow money from my parents to clear the debts, I just couldn't afford it otherwise.

mr smuf · Mon 17 May, 2004 22.00

Might be a good social life at uni, but these day having a degree means nowt so you'll probably end up in a job you could have got without a degree anyway. Certainly that is the case for myself and lots of other people (too many) people I know - although the job I now have is not actually that bad and I CAN work my way up.

But about running a car when you don't have a source of income..... that is very risky. Cars are expensive things to run, esp in this country and you do need a job. As for students again..... well many only have themsevles to blame for their debt. I know going to Uni is expensive, but really, there are far too many who spend a bit too much time in the pub.