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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To ask how u would spend £5000

94 replies

livinlife · 25/12/2019 20:33

I'm 18 and going to university to study Adult nursing so would get 5k a year in a bursary.
How do I spend this wisely?
I'm staying at home so I was thinking to spend it on a car however I've passed my theory and need to take a number of driving lessons and also I checked my insurance and it was 2.5k a year and I need to buy a car on top of that.
Would it better to just get a annual bus pass and do something else with my money?

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livinlife · 26/12/2019 15:56

@madcatladyforever Thankyou will probably just get a bus pass and see how it goes. Most my placements would he quite close anyways

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livinlife · 26/12/2019 15:57

@chotapeg no I would have to take out a tuition loan separately

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livinlife · 26/12/2019 15:58

@Dowser that seems like a good idea however I don't think it is suited to me ♥️

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livinlife · 26/12/2019 15:59

@LaMarschallin what are bursaries meant to be used for?

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DownstairsMixUp · 26/12/2019 16:00

Definitely driving lessons. It'll be a mix of community placements and you can end up in gp surgeries in the middle of nowhere. don't bother buying books, library or second hand.

Tetran · 26/12/2019 16:00

Placements can cover a really broad geographical area, transport costs are likely to add up quickly.

livinlife · 26/12/2019 16:10

@DownstairsMixUp thankyou will do but will put off buying a car just yet and see how the first term of uni goes. Definitely trying to pass before uni starts

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LaMarschallin · 26/12/2019 16:11

My assumption was that it was to cover living expenses while you're working to get qualifications, since you won't have an income from working at paid employment.
Despite your parents being kind enough not to charge rent and buy your food for you, you'll still have basics like clothing. I'm surprised that apparently text books aren't needed these days for nursing - both my daughters had them for their degrees.

Your OP just made it sound like you felt you'd come into some money as though you'd won something and it's burning in your pocket, waiting to be used.

Maybe you should do a few months of your nursing studies and sorting out your budget, and then see if you feel you've money left over for eg a car

livinlife · 26/12/2019 16:11

@Tetran I asked the uni and they said it would be quite local however I'm just going to buy a buss pass for first term and then see how it goes and if need be buy a car. Hopefully tying to pass before uni starts

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livinlife · 26/12/2019 16:12

@LaMarschallin I was just debating whether to buy a car or not. I'm just going to use some for driving lessons and buy a bus pass for the first time and then if I feel I need to buy a car then I might buy a car.

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thatguiltyfeeling · 26/12/2019 16:18

I'd do an intensive course in driving with a guaranteed pass or free test the next time, about 1k depending where you are. Insurance is cheaper if you put someone else who has a no claims bonus on your insurance, and if you get a black box plus do I think it's called pass plus? I'd also buy a newer car that won't need an mot for a couple of years, some new cars I think you don't pay road tax on either because they are "cleaner". Is it 5k a year or for the whole thing?

livinlife · 26/12/2019 16:20

@thatguiltyfeeling I was looking into an intensive course because my friend did one and passed. Might try it. Its 5k a year for 3 years

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thatguiltyfeeling · 26/12/2019 16:29

I'm doing one in the new year as I've already spent £300 on lessons and I have a baby so i can't afford to do £250 a month vs £700 as a one off. You could put part of the yearly pay out towards the insurance too so pay that yearly as I think it works out cheaper that way

Straycatblue · 26/12/2019 16:33

A car would be a good investment.

Whilst bigger cities do have better options for public transport, many of those options are not available at the times you will be travelling .

You will be working nights, public holidays , xmas day etc etc (maybe not xmas day as a student but certainly other public holidays) and public transport esp at 6am in the morning on those days is usually very limited.
You will be starting shifts at 7am in many places and that means being there, getting into the hospital building and correct floor and changed and on the ward ready to start at 7am, not just pulling up at the bus stop at 7am often buses/trains dont run early enough to get you places for that time esp if you are having to make several different connections.

Your placement may not even be in your city, many of our students have their placements in neighbouring towns because thats what they have been allocated and are up & walking several miles to train stations at 5 in the morning as no available buses.
You may want to enquire at your university where is the furthest place you would be sent on placement & what the bus/train timetables to that place are like , particular in the early/later hours and on public holidays.

If you are doing 12 hour shifts and potentially having to get connecting services after you finish it can be challenging later at night.

The flip side is that parking at hospitals if often challenging and very expensive ,

You may also want to check out repayment rules if you drop out, very often a high drop out rate in the first year of nursing.

livinlife · 26/12/2019 16:41

@thatguiltyfeeling thankyou will look into it

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livinlife · 26/12/2019 16:42

@Straycatblue I think I will use it for lessons but stick to a bus pass for the first term and see how it goes. The uni did say all the placements would be local and I will have a look into repayment rates

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sleepismysuperpower1 · 26/12/2019 16:46

in regards to clothes you won't always be able to wear scrubs OP (I think this was mentioned earlier). you want to get some smart basics that you won't mind too much if they get ruined (look at places like matalan or TU/Asda). Good luck with your training x

CripsSandwiches · 26/12/2019 16:48

That's not very much money when you consider travel, food, going out, clothes etc. I would just write a budget - look at how much you currently spend on going out etc. Work out the travel costs, maybe put aside some money for driving lessons (even if you don't plan to buy a car straight away you'll want a driving licence eventually) then save the rest. Set up a dedicated saving account so the money doesn't get frittered away.

livinlife · 26/12/2019 16:49

@Straycatblue I hope to stay on for the full 3 years and would hate to drop out but if for some reason I did it says you don't have to pay it back and only have to pay it back any money you got where u were not studying.
"You will have to pay back any bursary that you have received for the time you were not in study"

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