Just sold my car...

[Terminator X]

Buy a car immune from depreciation (original M3?) and then enjoy it; money in the bank is/will be eroded by inflation over the years.

TX.

[matt3001]

You get a government grant that pays for your uni fees and you have been driving a boxster and have £15k in the bank?

Is that what my tax is going towards these days? Wow.

[rfisher]

[RSoovy4]

matt3001 said:

You get a government grant that pays for your uni fees and you have been driving a boxster and have £15k in the bank?

Is that what my tax is going towards these days? Wow.

*reads pay slip tax section*


*weeps*

[ringram]

Im happy the govt dishes out as many student loans as they want.
Better than dole money. At least its an investment in the future..

[Burnham]

Premium Bonds, then you too can have the opportunity to win up to £25 a month (and, at no extra cost, you join us in the miserable Premium Bonds thread!)

[Octoposse]

My Lloyds TSB current account pays 3% on balances over £3k (up to £5k) and a bit less under that.

My Santander ISA pays 2.5% - bloody annoying though - it seems to 'drop off' to about 0.1% after a year, then I notice, arrange an appointment, they put it back to a decent-ish rate for 12 months . . .

[Lynch91]

Pay your student loan off, interest is ridiculous and I think compounding year on year

[Steffan]

Lynch91 said:

Pay your student loan off, interest is ridiculous and I think compounding year on year

Best and most practical advice on this topic. Borrowing money when you can pay off the sum involved from savings is expensive madness. You will never achieve returns on savings on an equal sum to match the interest on the debts you have. Get rid of all debt is the first rule for personal solvency.

[Lynch91]

If you scroll down to the bit on this website (https://www.gov.uk/student-finance/repayments) titled 'Making Repayments' it says you can pay off all or part of your loan at any time.

[blank]

Steffan said:

Lynch91 said:

Pay your student loan off, interest is ridiculous and I think compounding year on year

Best and most practical advice on this topic. Borrowing money when you can pay off the sum involved from savings is expensive madness. You will never achieve returns on savings on an equal sum to match the interest on the debts you have. Get rid of all debt is the first rule for personal solvency.

Errrrr really?


I have purposely not paid off my student loan because it makes more in an ISA than the interest rate on the loan.

Or at least it did the last time I checked.



I'm not sure why there's all the grief about taking student loans etc when you can afford not to. When I was a student my dad made sure I got everything I was entitled to (which wasn't much) because "I pay lots of tax so you may as well try and get some of it back".