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Getting separate bank accounts
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Right. My first year at uni i was fine for money, i had saved enough during my gap year to pay for everything i needed etc etc.
Anyway my second year might be slightly different, moving into a house with some mates and all that. The rent is £250 a month plus bills and the contract lasts 12 months. That adds upto about £3000+ when you account for bills.
So anyway this summer i havent really saved much at all, got a holiday planned for next week and am going to global at the end of the month. So by the end of it im going to be skint and way into my overdraft. I've always been a saver and always had money so it got me thinking of what my money situation next year will be.
My maintenance loan will be around £3200 + so that should be enough to cover the rent for the whole year but then i will need money for living off etc. Obviously i would need a job as well.
So i was thinking if it would be a good idea to get another bank account. I currently have a Natwest Student account where all my money is but was thinking of getting another account to whack all my maintenance loan into so that i wouldnt have to worry about the money for rent. And then i would have my current student account with the overdraft to life off etc
Is that a good idea?
Anyway my second year might be slightly different, moving into a house with some mates and all that. The rent is £250 a month plus bills and the contract lasts 12 months. That adds upto about £3000+ when you account for bills.
So anyway this summer i havent really saved much at all, got a holiday planned for next week and am going to global at the end of the month. So by the end of it im going to be skint and way into my overdraft. I've always been a saver and always had money so it got me thinking of what my money situation next year will be.
My maintenance loan will be around £3200 + so that should be enough to cover the rent for the whole year but then i will need money for living off etc. Obviously i would need a job as well.
So i was thinking if it would be a good idea to get another bank account. I currently have a Natwest Student account where all my money is but was thinking of getting another account to whack all my maintenance loan into so that i wouldnt have to worry about the money for rent. And then i would have my current student account with the overdraft to life off etc
Is that a good idea?
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Comments
I personally have 4 different bank accounts. My graduate one, an instant access savings account, a joint account with my b/f for bills and my 'frittering' account where i transfer the money i've budgeted for me to fritter at the beginning of each month. It just makes life a little easier!
I pay my rent at the start of each term so that's pretty easy for me, loan goes straight to rent payment, and that goes through my 'proper' account that has savings attached etc.
I then use my student one with the overdraft etc for my day to day living expenses, my wage gets paid into my 'proper' account and then I transfer an 'allowance' across to my student one.
Not really too fussed about what i get, i just want somewhere to save my money and be able to move funds across if necessary.
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