Things that make you go What the F**k?

[tiempo]

Between 16 and 21 offer your kid a scheme whereby every quid they put aside you match it with 2, mum does the same, 400% return for them and a nice lift for their 21st towards something significant, and builds a saving mindset and respect for money ... in theory

[quit yo jibbajabba]

Alright bezos calm down 🤓

[LC]

You're a long time working too. May as well go and have the craic and drink like a fish for a few years beforehand.

Aye and rack up £25 grand debt!

The covid period was an absolute joke with regards classes and then strikes and Halls, got some money back for that though..

I 100% get it. Financially, and through the sensible, miserable, middle aged lens, it makes little sense. But who gives a fcuk about that at 18? You'd hardly see that money anyway.

Setting aside the broadening minds, developing perspective, sowing oats, learning to interact with the world etc 30k for 3 years of getting a lot of crazy out of the system is a decent bargain.

Youse put the interest on me so logged into my student finance.. Graduated 10 years out of Uni there this month. Left with £36k of debt just the 27k left 😅

Was the first year with the hike (9k fees) as I went to LJMU. Tech job and done a Computing course, bar SQL I don't think I use anything I learned in Uni.. Just another 20 years and it's wiped off

That's shocking, graduated in the late 90s and I had £5k of loans and it felt like a serious millstone for a few years.

Main thing was it was cleared and gone before I went looking a mortgage, can't see many people being that fortuitous these days, I would imagine it fairly hampers your borrowing ability when it comes to buying / building a house.

[Milltown Row2]

Between 16 and 21 offer your kid a scheme whereby every quid they put aside you match it with 2, mum does the same, 400% return for them and a nice lift for their 21st towards something significant, and builds a saving mindset and respect for money ... in theory

In theory that sounds great, I've not been able to get them to save other than what their nana does for them

Life is completely different, kids are wired differently too..

They never listen and you're an old fart and what would you know!

I give advice and let them make their own mistakes, who actually at 18 took savings advice from their da?

[DaleCooper]

Friends dad got grant to do law at Queens, zero debt on graduating then bought his first house later that year for 5k.

Simpler times when people worked hard....

[Mourne Red]

You're a long time working too. May as well go and have the craic and drink like a fish for a few years beforehand.

Aye and rack up £25 grand debt!

The covid period was an absolute joke with regards classes and then strikes and Halls, got some money back for that though..

I 100% get it. Financially, and through the sensible, miserable, middle aged lens, it makes little sense. But who gives a fcuk about that at 18? You'd hardly see that money anyway.

Setting aside the broadening minds, developing perspective, sowing oats, learning to interact with the world etc 30k for 3 years of getting a lot of crazy out of the system is a decent bargain.

Youse put the interest on me so logged into my student finance.. Graduated 10 years out of Uni there this month. Left with £36k of debt just the 27k left 😅

Was the first year with the hike (9k fees) as I went to LJMU. Tech job and done a Computing course, bar SQL I don't think I use anything I learned in Uni.. Just another 20 years and it's wiped off

That's shocking, graduated in the late 90s and I had £5k of loans and it felt like a serious millstone for a few years.

Main thing was it was cleared and gone before I went looking a mortgage, can't see many people being that fortuitous these days, I would imagine it fairly hampers your borrowing ability when it comes to buying / building a house.

Aye it's wild, I'll never pay it off way I've always looked at it - It's essentially just another tax. NIC, TAX, Student Loan.

As someone mentioned already it doesn't come up on your credit rating thankfully, but does affect mortgages when you give them your earnings and you have to deduct £100/200pm for a student loan that could go towards a mortgage - Another thing that hinders young people from home owning.

[Armagh18]

You're a long time working too. May as well go and have the craic and drink like a fish for a few years beforehand.

Aye and rack up £25 grand debt!

The covid period was an absolute joke with regards classes and then strikes and Halls, got some money back for that though..

I 100% get it. Financially, and through the sensible, miserable, middle aged lens, it makes little sense. But who gives a fcuk about that at 18? You'd hardly see that money anyway.

Setting aside the broadening minds, developing perspective, sowing oats, learning to interact with the world etc 30k for 3 years of getting a lot of crazy out of the system is a decent bargain.

Youse put the interest on me so logged into my student finance.. Graduated 10 years out of Uni there this month. Left with £36k of debt just the 27k left 😅

Was the first year with the hike (9k fees) as I went to LJMU. Tech job and done a Computing course, bar SQL I don't think I use anything I learned in Uni.. Just another 20 years and it's wiped off

That's shocking, graduated in the late 90s and I had £5k of loans and it felt like a serious millstone for a few years.

Main thing was it was cleared and gone before I went looking a mortgage, can't see many people being that fortuitous these days, I would imagine it fairly hampers your borrowing ability when it comes to buy in / building a house.

doesn't affect your credit score or anything as it's treated as a tax rather than a debt or thats what you're told anyway.

[tonto1888]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

[marty34]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

Good bit of business there Tonto.

It'd be a good price now if you'd kept it. Everyrhing relative I suppose.

I remember houses in Holylands at £50k. Mad when you think of it now.

Ever hearing stories from people in the 80's saying that they saved up to buy their first house. Times have changed.

Hard to save for a 5% deposit now never mind for a 'full' house.

I wonder would it possible nowadays for a young person, over 25 years, to save £100k. 

[tonto1888]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

Good bit of business there Tonto.

It'd be a good price now if you'd kept it. Everyrhing relative I suppose.

I remember houses in Holylands at £50k. Mad when you think of it now.

Ever hearing stories from people in the 80's saying that they saved up to buy their first house. Times have changed.

Hard to save for a 5% deposit now never mind for a 'full' house.

I wonder would it possible nowadays for a young person, over 25 years, to save £100k. 

aye, 2017 I sold it so who knows what it would be worth now. Anyway, I got enough to clear my loans and contribute to a deposit on a house over here. Which as an aside I have just sold to move in with the missus. Anyone know the best option for where to put my money? Limits on what I can out into my credit union account

[marty34]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

Good bit of business there Tonto.

It'd be a good price now if you'd kept it. Everyrhing relative I suppose.

I remember houses in Holylands at £50k. Mad when you think of it now.

Ever hearing stories from people in the 80's saying that they saved up to buy their first house. Times have changed.

Hard to save for a 5% deposit now never mind for a 'full' house.

I wonder would it possible nowadays for a young person, over 25 years, to save £100k. 

aye, 2017 I sold it so who knows what it would be worth now. Anyway, I got enough to clear my loans and contribute to a deposit on a house over here. Which as an aside I have just sold to move in with the missus. Anyone know the best option for where to put my money? Limits on what I can out into my credit union account

You have too much money Tonto - good 'problem' to have. 

[Milltown Row2]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

Good bit of business there Tonto.

It'd be a good price now if you'd kept it. Everyrhing relative I suppose.

I remember houses in Holylands at £50k. Mad when you think of it now.

Ever hearing stories from people in the 80's saying that they saved up to buy their first house. Times have changed.

Hard to save for a 5% deposit now never mind for a 'full' house.

I wonder would it possible nowadays for a young person, over 25 years, to save £100k. 

aye, 2017 I sold it so who knows what it would be worth now. Anyway, I got enough to clear my loans and contribute to a deposit on a house over here. Which as an aside I have just sold to move in with the missus. Anyone know the best option for where to put my money? Limits on what I can out into my credit union account

You have too much money Tonto - good 'problem' to have. 

Put up to 50 grand I think into the Bonds.. it's safe and I'd say we've won more than interest rates would give if put into a savings account, plus the buzz of possibly winning big is always there!

[imtommygunn]

I was thinking of doing that myself. They say 3.6% on average plus tax free.

[LC]

I got lucky I suppose. I graduated in 2002 so before debt got really high. Managed to pay my loans off about 8 years ago when I moved home from England and sold my flat over there

Good bit of business there Tonto.

It'd be a good price now if you'd kept it. Everyrhing relative I suppose.

I remember houses in Holylands at £50k. Mad when you think of it now.

Ever hearing stories from people in the 80's saying that they saved up to buy their first house. Times have changed.

Hard to save for a 5% deposit now never mind for a 'full' house.

I wonder would it possible nowadays for a young person, over 25 years, to save £100k. 

I remember paying Holylands Rent at £90 per month and houses definitely below the £100k mark.  A guy I was at uni with took a student loan each year banked it and within 2 years of graduating had enough of a deposit to buy a house in the Upper Ormeau, he definitely had his head screwed on.

[trueblue1234]

If your going long term and it's significant amount of money, then speak to a financial advisor and get it invested across a portfolio with mixed risk. And then forget about it. Don't sweat the dips and celebrate the peaks. It's all to do with the last couple of years but returns would usually be better than any savings account. Majority in small risk and then a few medium risk that might offer better returns. The little we invested has done well but was like a yo-yo over Covid. But looking at the longer period, well up on what we would have expected to get from a savings account.
That said, not without risk obviously.