Talk

Advanced search

or more would it be selfish to use savings to do a degree course? Long!

(17 Posts)
mytetherisending Thu 18-Sep-08 21:51:05

I had a house when I married DH which I sold and we put half the equity into savings and the rest into another house, with the intention of buying a second house to rent out. As we have had problems finding the right tenants (not passing credit checks) we have decided to put of buying another.
I have decided that I want to become a HV which will mean one year full time at uni as I am already a nurse.
I have 2 dcs 2.8mths and 6mths. I want to start when dd1 is 3.7yrs and dd2 will be 18mths, but it will cost lots in childcare.

AIBU to want to use savings for this instead of another house, my reasoning being that ATM I can't work because the hours are unsociable where I worked before and travelling was a nightmare, especially when DH was away. I think as a HV the hours can be PT so I can do that until dcs are older and then go FT when they get to school iyswim. It will mean a pay rise of 5k.

Any views welcome. smile

TheCrackFox Thu 18-Sep-08 21:55:40

It sounds sensible of you will get a £5 pay rise at the end. Your studies will eventually pay for itself.

Helga80 Thu 18-Sep-08 21:58:20

I think as a HV the hours can be PT

The above would be the clincher for me. If you could go part time and are as guaranteed (as far as possible) to get a job then I think YANBU as it's an investment.

Unless you can give a yes to those two issues I may lean more towards YABU.

Also depends how much of the savings you would need to use, personally I'd want there to be some left over to cover those imfamous rainy days!

FairLadyRantALot Thu 18-Sep-08 22:03:07

YANBU smile
Seems like a very good investment, imo...especially if it means you will be happier in what you are doing, etc...
best of luck

What does your dh think about it then? I hope he isn't opposed...

mytetherisending Thu 18-Sep-08 22:06:30

It would probably cost 700pcm in child care, 3,00 in fees for the course and 500 pcm to live, so about all the savings, however, I also CM so could work doing that until the course starts iyswim. If the tenant stays in then we can get by without my wage. I am on mat leave at the mo, so get mat pay iyswim.

There are 2 jobs advertised locally which are PT so I should get a job.

mytetherisending Thu 18-Sep-08 22:08:16

Thanks fairladyrantalot, smile No, DH is not opposed, I just feel guilty using it, even though technically it is my money and is still in my account grin

Helga80 Thu 18-Sep-08 22:11:05

In that case YAdefinatelyNBU, especially as you have means of make money until the course starts so can put a bit more aside.

Good luck and don't feel guilty, you've too long a life to spend it miserable smile

mytetherisending Thu 18-Sep-08 22:12:07

Helga thats my only worry, as DH is Army so we move around.

1dilemma Thu 18-Sep-08 22:19:40

I'm a bit confused it you allready have one BTL with tenant and your own place then why would you want another now is def. not the time to be buying houses IMHO!

Investment in yourself like this is nearly always a good idea what better thing to do wiht your money than to use it to give yourselves a better life now?

Could you get help with childcare? I'm assuming not until you've spent your savings IYSWIM

FairLadyRantALot Thu 18-Sep-08 22:25:28

Also, aren't there way to get the degree , at least partly, funded....?

As for the guilt part...I do understand where you are coming from...when younger I trained as a Nurse, but my registration has lapsed by now....now, I know, it would be quicker and would get me earning quicker if I just paid the return to Nursing course...however, I can NOT see myself back in Nursing...the shifts, the monotomy of working on a ward, the whole stressful environment and all that...so, am going to do a degree in Occupational tehrapy....but this means it will be 3 years till I will be back in teh workforce, not just a few month...
I do feel a bit guilty, as it would take pressure of dh if I would earn sooner....BUT....longterm I think it will work better for us, as a family, if I do the OT degree...it will,hopefully, make me happy....
although, right now I am panicking of course...as course starts on Monday....shock and no idea how I will manage, lol

mytetherisending Thu 18-Sep-08 22:38:24

1dilemma- yes, I agree tis not the time at the moment to buy, we had just planned to save the money until the right time arises iyswim.

good luck fairlady! smile I am sure you will be just fine. I also have the registration problem in march next year, so am thinking I can perhaps do some bank work after xmas to keep registered iykwim. I have enough hours over 3 yrs but am not sure if its recent enough as it was jul-nov2006

mytetherisending Thu 18-Sep-08 22:39:54

For funding you need to work for a trust, but I should get some grant with 2dcs and DH in the bracket between 25-60k (lower end sad)

FairLadyRantALot Thu 18-Sep-08 22:49:29

oh right, yes...you do need to work for the trust....

anyway, hope you go for it anyway...

mytetherisending Thu 18-Sep-08 22:59:26

Thanks I am feeling more positive about doing it now and now for the hard part, getting on a course!grin

1dilemma Thu 18-Sep-08 23:10:10

Good luck

if you're in London you should walk into a job, crying out for HV here we're without one again

mytetherisending Sat 20-Sep-08 16:21:01

Thanks for all your wise words smile Just to give an update, its definately going to happen if I get on a course. We have decided to buy MILs partners house (2 doors from MIL!) I will live there with the DCs, MIL will look after dcs/take to pre-school and saves on chidcare. DH will visit at every oportunity and live in our quarter until the course is completed. We can then rent out the house and I can move with DH to our next posting.

I have sent for an application form and have been told by the lecturer that with the experience I have in a wide variety of areas, I stand a good chance of being successful smile.

They also said if I apply to the local PCT in the area where I will do the course, that I should get some funding smile

All in all I can't wait now!!!grin

DH is being a star and even went into see his mortgage advisor to see if we could afford to buy the house, which he said we should be able to. smile MIL is jumping up and down with excitement at the prospect of having her DGCs near her and seeing them every day smile.

1dilemma Sun 21-Sep-08 00:41:29

Lovely sounds like a good result allround
good luck with the course

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now