To ask my parents for financial help

As harsh as it is, you may have to forgo holidays until you have qualified. It won't take long for you to be able to go on holiday again. Qualifying is so close for you. You can still look forward to your plans, maybe just a year later.

Just seen it's law! I would definitely do a loan right either privately or from parents if that's an option

I went to College of Law to do my LPC, quite a lot of us did not have training contracts and were self funding. I have had a successful legal career and so have friends that were self funders. It is great that OP has a training contract but not so great that they don't pay fees.

OP I coped by using loans and overdraft and asking my grandparent to help. Which they did. Sometimes you just have to ask your family. At least then you know the answer either way and can plan your next move. Once you are qualified your finances will improve rapidly.

If you're doing accountancy or law exams so you know you'll have a big salary soon ish could you take out a private student loan to help you?
Or sign up to a babysitter app and spend every other weekend doing that to fund nights out on the non working weekends?

My eldest daughter is your age. I’d be heartbroken to find out she was struggling and didn’t ask me to help. Ask your parents.

i would also take the student loan though, and speak to your employer, could they loan you the exams money and work out a repayment when you qualify? Have you spoken to HR? Maybe they have some training budget they could use or even just fund your travel?

don’t struggle alone,
reach out for help and good luck.

You’re not failing! You’re working hard to get where you want to be. The pain is short term. Certainly ask your parents for a loan to cover your exams, the worst they can do is say no.

What are the 'other savings'? Other savings might be a luxury you can't afford right now.

If your parents have as much money as you say (100s of 1000s), then of course you should ask for help with 5000 towards finishing up your training. That's a drop in the bucket if they have that kind of money and likely they would want to help.

Even if they couldn't, they might be able to help partially or with travel to exams.

I'd hate it if my child couldn't ask.

I think it depends on your parents finances, can they afford it? They already help you out a lot. I agree that a loan request is better, to be paid back when you are earning. Your future wages will be quite high.

You are not a failure and I hope that in a few short years, your investment now will be paying for itself handsomely.

I have 3 DC who are young adults and are just establishing themselves in their careers. I ask them how they are financially and offer help where we can. I've always stressed that they can come to us if there is an issue.

Ask your parents, they can only say no.

If they can't afford to a) pay more than min wage b) fund training are they actually going to be good place to work?

So many people are so desperate to get into law they don't face reality about this stuff.

The OP has said she’s already on a training contract.

Law is very competitive. More people do TCs than there are jobs on qualifying. Far more people do law school than there are jobs.

The best candidates are on funded TCs paying more than twice what you make, and even some of them won't get offered a PQ role at the firm they train at. They will tend to take the PQ roles at firms a rung down, and so on. The people at the bottom who've desperately taken low paid unfunded TCs are often left with nothing.

I would look to move elsewhere and get a funded TC before you sink yourself financially. Have you got a decent academic record - 2.1 from a good university etc?

If you were my daughter and I could afford it, I'd give you whatever you needed. If I couldn't afford to do that, I'd consider loaning you money.

You should let them know you feel like you're sinking. You're working hard for a better future and wouldn't be so stressed if they could help you.

You are investing in your career.

Don't feel like a failure - this is tough time but it will not be forever.

Please do ask your parents.

I can't speak for your parents but I would happily help out.

They may not have any money to help out with.

In my younger days which are now very much behind me it was possible to get a career development loan to help pay some of these costs. If your parents cannot help you could consider this.

See I think you would be a bit unreasonable to ask them for money, unless you know they have say 50k sitting in an account doing nothing, because they are already massively subsidising your life by paying all of your living costs & food etc.

Have a look at banks offering loans specifically for things like this, I’m 26 and when I finished uni a few of my friends got loans to fund further exams/study and some banks offer deals for those loans, Halifax was the most popular at the time as it was 0% and no repayments for a fixed amount of time.

I’d help my child in these circumstances in a heartbeat . You are doing great op, you just need a little help and if I were your parent I’d be proud of you

It's such a shame that you're feeling like a failure. You're doing a very rigorous and time-heavy training for a good career.

It sounds like you have sunk a bit into catastrophic and 'black and white' thinking eg 'if I do x I will fail y'. A decent CBT book could help you be a bit more flexible in your thinking.

Meanwhile, ask them if they would help.
Do you feel that they are proud of you for your efforts to study and work?

Things are so much harder for young people starting out today, studying for a degree, than when your parents were young. There is no comparison really. That is not your fault. Remind yourself of that.

I would absolutely help my daughters out if they were in your situation. It’s short term and you will be earning well soon. If they can’t afford to gift you they money they maybe able to lend you it. I would hate to think my children are struggling and afraid of asking for help. Whether your 5, 25 or 45 you will always be their baby, I am sure they will help you.

(Also - are you tied in to the provider? Barbri offer really flexible timings / online / cheaper than the rest and a decent pass rate)

YANBU its pretty standard for parents to contribute towards the cost of their kids education. Did you not get any student loans or bursaries?