I have a money dilema

Dory Berkowitz-Bukowski

Dory Berkowitz-Bukowski

Clam whisperer
Oct 15, 2004
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In these times of credit crunch and debt, I'm pondering doing something potentially a little stupid, not totally not a little.

So...I have just started a degree and as part of this the univeristy has given me £245 (non-repayable) to buy a laptop or PC, in addition to this the student loans company has given me £255 (repayable at 2% APR). Now I managed to buy a little notebook laptop for £245 so now I have this other money sat in my bank account.

The longer it's sat there the more I think about the fact I need new shoes, would love to have some more clothes for work (I feel a bit trampy rotating between 3 pairs of trousers) or possibly a nice comfy sofa for my living room seeing as one of mine has broken.

Now my question is should I spend this money and repay it in a few years time, or do I (as my head tells me) give it back. It's not a huge amuont of money and the mind has a funny way of telling you that you deserve things when you don't i.e. I haven't smoked for x amount of days so I deserve to treat myself.

Advise me.
 
Can you get more than 2% interest on it, from bond, account, whatever.

If not pay it back.

Also dunno how much you need shoes, I have had the same pair since 2002.

Youll have more money from not smoking anyway.
 
FlamingGlory said:
Can you get more than 2% interest on it, from bond, account, whatever.

If not pay it back.

Also dunno how much you need shoes, I have had the same pair since 2002.

Youll have more money from not smoking anyway.
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Why would I want more interest on a debt?

I need new shoes, I'm a woman and I have 2 battered pairs of converse where the soles are barely attached to the fabric, one pair of heels that I wear to work that are scuffed to fuck and one pair of hiking boots. Trust me, I'm in dire need.

It's lucky I gave up smoking because this month I have no money to afford to smoke, next month I have to wait 5 weeks to get paid so money will be tight. It might be nice to spend this money.
 
No if you have cash that you are paying 2% interest on and your bank account is say %5 then you are earning money by keeping it. Just forget it :p

Then get shoes, and maybe some shoe polish. You polish scuffs.
 
I have polished my shoes recently but they are so used they look like they have pock marks all over. Plus I've only been working full time in an office since like autumn-time so I have no summer work wardrobe.

I dunno about bank account interest and such, I don't really have much use for my bank account.
 
It's such a small loan... why don't you just pay it back if you don't need the money right away? It's not like the interest earned even at 5% amounts to much. You can buy your shoes by saving up to do so.

Alternately you could use your student loan on, oh, I don't know, school expenses of one sort or another. Man... if only there were some kind of low interest loan specifically designed for helping students pay or incidentals.
 
itburnswhenipee said:
It's such a small loan... why don't you just pay it back if you don't need the money right away? It's not like the interest earned even at 5% amounts to much. You can buy your shoes by saving up to do so.

Alternately you could use your student loan on, oh, I don't know, school expenses of one sort or another. Man... if only there were some kind of low interest loan specifically designed for helping students pay or incidentals.
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I don't need any school supplies, my university gives me all my books in return for my tuition fees. It's a distance learning course y'see.

You're so aggressive and cranky sometimes you know, I think you need a massage or something.

Added to which I think you'll find most students are wankers that spend their student loan on cheap alcohol and stupidly expensive clothes, I'm thinking of taking a trip to a discount shoe warehouse. :p
 
Enemy said:
I don't need any school supplies, my university gives me all my books in return for my tuition fees. It's a distance learning course y'see.
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OMFG

I'd be out of a job if they couldnt rape students with book fees.
 
FlamingGlory said:
OMFG

I'd be out of a job if they couldnt rape students with book fees.
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I think at a real university you have to pay but seeing as I pay £600 a year and get like 8 lectures the whole year I kinda expect to get free books. Although actually the fee was based on the last tax year, in which I earned nothing, so the £600 got paid for me.
 
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