How to find UK scholarships

Finding scholarships to help with the costs of being a student can be a little tricky, but being able to get scholarships during your degree can be such a huge help. Scholarships are not as prevalent in the UK and there are far fewer "full ride" scholarships but they do exist and knowing where to look is the trick to success. 
Even a few hours work in searching and applying for scholarships can pay of hugely and scholarships are great to include on job applications as it shows that institutions are willing to invest in your potential.  
We have both been fortunate to receive several scholarships during our degrees and it has been of such a benefit to us. To date between the two of us we have received £17,000 in scholarship awards, and we are still applying for more whilst we are completing our degrees. That is why we are sharing how you too can find some amazing scholarships to help with the cost of university education. 

The Scholarship Hub is one of our favourite sites for searching for scholarships. We use the free option and have found it to be great, but there is a premium option that offers additional features. The Scholarship Hub allows you to search for scholarships based on subject, university or universal generic scholarships. They have a comprehensive easy to use database for many UK scholarships.

If you are already enrolled in a degree, or know where you are going to apply to the first thing to do is check your university for the scholarships on The Scholarship Hub, while not an exhaustive database it is a good start. If you are unable to find any scholarships on the site specifically for your university's course,  then move to searching your individual university's website.   There may be some more generic scholarships for those who are first generation students or care leavers. You may also find that a department offers specific scholarships, sometimes sponsored by a company. It is also worthies contacting your department office, as there may be scholarships which are not publicly advertised.  In my first year, I managed to pick up a scholarship, which was offered departmentally and not publicly advertised because I asked the school office if there was anything available. Also keep an eye out for posters on campus and emails advertising scholarships.

You can also use The Scholarship Hub to search for Degree apprenticeships and sponsored degrees which involve both an educational and vocational element. They typically take longer to complete, but can mean you can study with little or no costs. For example, KPMG offers a six-year programme where all your tuition and accommodation fees are covered for the duration of your degree, and you have a guaranteed job at the end. 

Degree apprenticeships are a "new" government initiative to allow students to graduate debt free and work during their studies allowing you to gain work experience while studying. They are not really new but just bringing back an old concept, in fact, Rebecca's dad obtained his degree through a degree apprenticeship scheme in the early 1980s through Rolls Royce. 

The downside is that you can expect to spend much of your evenings and weekends studying as the week is spend working.  If the 'typical student' experience is important to you, then a degree apprenticeship may not suit you. Also, not every sector is covered by degree apprenticeships, so this is another factor to consider whether they cover the subject you wish to study as the sectors are STEM-heavy.

There are currently 12 different industry sectors offering Degree Apprenticeships.

• Aerospace Engineering
• Aerospace Software Development
• Automotive Engineering
• Banking Relationship Manager
• Business & Finance
• Chartered Surveying
• Construction
• Defence Systems Engineering
• IT/Digital
• Electronic Systems Engineering
• Laboratory Science
• Nuclear Science

The NHS sponsorship scheme can help those studying accredited Medicine and Dentistry courses.  For those on the usual five-years undergraduate programme, the NHS will assist in the 5th year of study. While those on the accelerated four-year graduate programs the NHS Bursary Scheme will pay £3464 towards the cost of tuition in years 2 through 4. 

Did you have any scholarships whilst at university? How did you find and apply for them? 

Why we choose to live on one income (and how you can too)

Are you making the switch to live on one income? Maybe you are a stay at home parent, or one spouse is still in college there are many reasons why it might be a necessity. Living off one income does not have to just be for those who find it essential it can also be a great way to get intense with your savings plans. Today we will share with you our tips for living on a single income and why we choose to live on a single income.

Why we live of one income?
When I started work we figured that my starting salary was enough to cover our essentials plus our budgeted luxuries.
With our goal to get intense with our savings for our future home we knew that we needed to be setting aside as much as possible each month into savings. But it can be so easy to see lots of money in the checking account and spend, especially if we thought in terms of our joint salaries our surplus was quite a bit.
To get us out of this mentality we live as if my income is our only income, this is what we live off, this is what we budget from and any excess goes into savings (just like any normal budgeting situation). We then assign all of Chris income into the various savings pots we invest into which currently includes our Help to Buy ISAs, stocks and shares ISA and my Self Invested Pension Plan.

Whilst Chris is still studying being able to live off my income only means that there is less stress on him to work during busy periods when exams occur. It also means that the variability in his hours and any overtime he picks up during holiday is just bonus savings and not something we have to rely on.

However, being able to live solely of one income is no easy feat for us. Im in my first graduate job and Chris is working during his degree, so we are not super high earners. We also live in one of the most expensive cities in the UK so there are number of things we do to ensure that this is an achievable situation.

How you can live on one income too

1. Reduce essential expenses
There are somethings you just can't avoid to pay for rent, food, utilities. But you do have some control. We live in the less affluent area of Brighton to make our money go further and are considering a move further along the coast next year in order to reduce the cost of rent. Keeping your usage of electric, gas and water low helps reduce the cost of utilities. Whilst meal planning and cooking frugally helps keep the food bill down.

2. Ensure income covers essential expenses as a minimum.
Having assessed and reduced your essential expenses you now have a clear picture of the minimum amount you need coming in each month from the income you are going to live off. You may at this point find that the income is just not enough.
There are two ways to change a budget, spend less or earn more and you may find that you have to do more. Consider asking for a raise, could you take on more hours, maybe now is the time to change jobs, could you do some training at work to become more qualified? Look at the different ways you could increase your income.

3. Reduce unnecessary expenses
Bynreviewing all your monthly payments to see if there are any subscriptions your could drop. subscriptions can easily slip through the next but being ruthless with them and really think about what you want to keep. All the time remembering that these are wants boy needs so they are the area in budget to cut. Some big costs include TV (discover how you can watch for free).

4. Comparison shop
Looking to see if you have you got any monthly subscriptions or annual purchases that you could switch or move down to a less expensive package. Whilst this can be more challenging to do for essentials (I.e rent) this is easier for non essentials it can make a huge difference and you army really having to cut back.
Don't forget to look at the details of packages you pay for are you using all the elements, could you cut down if so see if you could drop down to a less expensive package. If you are not sure how much you are using, for example on a phone plan don't be afraid to call up your current provider and get a breakdown of your current usage, arm yourself with this information when making comparisons between packages offered.

6. Keep a constant track of your finances
Being intentional with how you spend your money comes from knowing how it is being spent. We are currently loving using tiller spreadsheets to track our finances and have the daily email alerts set up to really keep any eye on our spending.  The spreadsheets link automatically to your bank and track all transactions. From there you can categorise the transactions, making you conscious of your spending habits. At the end of the month we like to print out the spreadsheet and review how it compares to our budget goals.

7. Live debt free

If we were not debt free living off one income would be so much harder if not impossible as we would need to be putting all our income towards becoming debt free. Being debt free is the key foundation to be able to successful in living on a single or low income. But if you are in debt don't stress you too can become debt free and gain control of your finances. To start on your journey check out our 5 steps to becoming debt free.

Do you live on a single income? How do you make it work for your family?

Budget friendly summer fun

Summer is here (where has the year gone already). Whilst I love summer, it has the potential to really burn a whole in a budget. Kids being home from school, longer daylight hours meaning you want to do more with your evenings and weekends to enjoy the sun. From trips to the beach to family BBQs it all adds up. Enjoying summer doesn't mean you can't continue to make headway on becoming debt free. Today I will be sharing some fun family and budget friendly activities for the summer months.

1. Walk (or cycle)  on the seafront/country side/park. 
Make the most of the great weather by discovering new walks and hikes in your area. If you have little children, creating an "I spy" activity where they have to find things in the surrounding area is a great way to keep them engaged. Let it be an opportunity to see new places you have never been to before, even if they are not far from home. Also always be on the look out for free parking, on popular routes people have cashed in on walkers and charge a lot to park so it is always worth looking into first. 

2. Go fruit picking.
Growing up, I loved hunting out blackberries, crab apples and sloes. We would usually turn them into jam, but there are lots of options. If you can find edible fruit near you on public areas then this can be a great free activity. If you don't live near somewhere like this then try searching for farms that do pick-you-own for a small fee you can pick fruit there.
To know when is best to look for certain fruit here is a quick guide for when fruit is ready for picking

• Strawberries - June to July
• Raspberries - July to mid October
• Blackberries- June to July
• Tayberries - June to July
• Blackcurrants - Mid July to mid August
• Plums - late July to August

3. Take a trip to the beach. 
Going to the beach doesn't have to be expensive. Packing your own food, blankets and chairs means you don't need to fork out for these at tourist prices.  You could even (if permitted) make a fire pit and have s'mores or bananas stuffed with chocolate buttons.

4. Ice-cream bar. 
Pick up a couple of tubs of ice cream in different flavours, as well as some of your favourite ice cream toppings (sprinkles, cherries, fudge and chocolate are all great options) and let the masterpieces develop. 

5. Stargaze in your garden. 
Try to find night where the sky is going to clear, and there is not to much artificial light, grab a blanket and your sweetheart and look to the sky. Have a go at guessing what funny shapes you can see. Remember, this doesn't have to be a super serious, make it your own. Involving kids is brilliant for this activity as they had wild imaginations and will see things that never even occurred to you. 

6. Visit a farmers market or a country fair. 
Other than getting to see lots of wonderful produce and exhibitions. It can be fun to give each other a small budget (i.e £5) and you each get lots of little bits of food, that the other has to try. Sometimes they have livestock as well which is great fun for children and is normally much cheeper to visit that a 'family farm'

7. Go fishing. 
Find a creek, grab a net and have fun trying to catch tiddlers. You could even take a picnic with you.  Just don't expect to have dinner sorted :) If you don't have a net, grab an old laundry bag (a fine mesh one), wire and garden pole and make a DIY net.  

8. BBQs
Over the summer you can get quite a few invitations to BBQs, often you are expected to bring food (meat) to the event. If you are on a tight grocery budget it can be a great idea to buy burgers and sausages when they are reduced (preferably 50-75% off) and freeze them. That way you can keep a stockpile ready for the next BBQ you attend. At the end of the summer what you haven't used up, can be added to dinner menus over the coming weeks. Also keep an eye out for when your favourite BBQ drinks go on sale and stock up a reasonable amount. 

9. Library Time
Going to the library is great for all ages. For bookworms like Chris and I it can be all to easy to be tempted into buying every book we want to read but its just not economical. Many libraries over the summer run reading schemes for children that are rewards based, making reading fun and educational. 

Summer doesn't have to be swipe and forget it season. For those who are struggling with debt I would  not recommend taking on more especially not for summer fun (see 5 steps for getting out of debt). For those out of debt wise use of credit cards can earn you some surprising rewards (compare the best rewards here (USA) and here (UK) . If you are making big journeys over the summer, putting petrol on a card can be a good option as many providers offer preferential rewards on transportation. As a general rule of thumb only make pre-planned purchases on a credit card, this avoids the temptations to purchase due to the lure of rewards. However, the cash back is only worth it if the balance is paid off in full each month (otherwise the cost of interest is more than cash-back earned).  When using a card its important to fully understand what you are doing, this Glossary is very helpful if you are feeling overwhelmed by jargon. 

What are your favourite budget summer activities?

This post is sponsored by Credit Card Insider. All opinions are my own.

The pitfalls of lending to family and friends

So you brother is struggling to make his car payments, or your niece just needs some more money to tie her over to the end of the month. Sound like a familiar story? It sure did to us. At the start to the month we had two situations pan out that we are going to share with you today. 

*For privacy reasons names are omitted*
Chris and I had been talking for a while on how to approach the situation with family member 1. When they got married just under 2 years ago Chris lent them some money but they took this to be a 'gift'. About a month later he lent them some more money this time they had acknowledged that it was a loan. We decided to let the first money go (though a very generous wedding gift, we wrote it off as that) but then the second lot we didn't want to write off as it had been clear to both parties it was a loan. 

We finally contacted Family Member 1 and asked what his plans for repayment were and that we were willing to accept instalments.  The response shocked us, they said they thought we were in no rush and that us doing this would make things really tight for them as they have a child. This situations highlights how easy it is for communication to break down over something like this as further disagreements have stemming from this have lead to a rift in the relationship. 

The second situation involved Family member 2 booking a holiday last minute with his girlfriend and in-laws and being completely unable to afford it. He asked for help with his bills, but the reason he can't pay is because of his holiday. Our first thoughts were of frustration, knowing that if we lent we would be essentially funding his holiday.

These situations occurring really reminded us of why we now both feel it is not appropriate to be lending money to family. There are just too many pitfalls to justify it. Below are just a couple of reasons why family and lending don't mix well and what other alternatives may be better.

1. It isn't always clear if it is a loan.
Usually lending between family and friends is very informal and unlikely to comprise of any written documentation. This can lead to misunderstanding as to whether the money given is in fact a loan or simply an outright gift.

2. No set terms
It is not unusual for there are not set minimum monthly payments, no set time period, no interest and no collateral. The informal nature and lack of terms can lead to the borrower feeling far more relaxed about repayment than the lender may expect. By not loaning in a matter comparable to a bank its is realistic that the borrower may not also behave how they would when borrowing from a bank. If a loan is open ended it can mean it is not a priority for the borrower to pay it back especially as there are no 'real' repercussions i.e bad credit score. It can also mean that you are not on the same pages as to what a reasonable time frame would be.

3. It puts a strain on a relationship
It makes situations awkward, it causes frustration and annoyance, and can lead to the breakdown of relationships. The dynamic changes, there is a burden that is owed yet you might not be treated in the same manner a professional leder would. This can impact your overall relationship and how you view each other especially if one feels the other is acting unreasonably.

4. Recovering assets is challenging
Not being paid back is not an all that uncommon situation, and you don't hold the same power as a bank to act quickly and cheaply. You are unlikely to have taken collateral for the loan. Recovering assets via county court is a time consuming process and though pretty efficient it would be better to avoid the situation altogether.

5. Enabling a habit
Once you have lent once, it is not unlikely you will be asked again. But is isn't a great position to be in if you are constantly lending especially if the loans are not interest bearing. Each time you continue to lend you are enabling a bad money habit. You are a quick fix not a long term solution. Try finding ways that can help rather than facilitate, consider why they are finding themselves in this situation perhaps they don't know how to budget or have a gabling problem.

So what to do instead of loaning money? Offer something more practical and not furling a money issue. For the brother who is going on holiday we have offered to work with him on making a budget and debt snowball. Whilst with the other brother cash gifts no longer occur instead individual items are bought I.e nappies so that we know it is going on needs not wants.

What experiences had you had with lending to family and friends?

5 ways to get the most value from your degree

The end of the academic year is rolling around. For some this will mean the end of a journey, whilst others have several years to go. Getting a degree is an investment and an expensive one at that the average UK student will graduate with £44,000 in student finance (click here to learn more about UK student finance). Like all investments it is important to work to ensure you get the maximum return but sometimes its hard to understand return on investment in relation to education. The key return on investment in relation to a degree is the increase earning potential is provides over your working career. However, this can be difficult to appreciate this whilst you are studying and in the increasingly challenging employment market  makes it harder. There are things you can do whilst completing your degree that boost the value of your time at univeristy.

1. Attend the best university you can
Everyone has different academic abilities and not all universities offer the course you wish to pursue. But consider carefully the reputation of the university you are attending especially considering most universities in the UK charge the same fees. Also if you find you are doing much better academically at your degree than you did in your secondary education consider transferring to a better university. Though not particularly common it is not hugely difficult to transfer universities and is worth discussing with their admissions department. Also when deciding the subject you want to study consider the employability it brings.

2. Keep the cost of a degree low
Though the reputation of a university is important this should be viewed in light of the comparative cost. While tuition fees are likely to exactly the same (unless you are a non-English UK student) there are other areas cost occurs. Consider whether there a good university near by you could commute to allowing you to save on the cost of living. Consider if there is an equally reputable univeristy in a more affordable city? Cost of living is one the costs that varies the most between institutions but is commonly most overlooked when selecting a university. I know in hindsight I should have considered more the cost of living in Brighton before choosing to study here(though having expected to study in London everything seemed cheaper). While Chris was fortunate enough to be able to commute from home to univeristy before we got married doing this saved us considerable amounts on rent. It is also important to look at what scholarships and grants are available at those universities and which if any you may be eligible for. This may significantly reduce the cost of the degree and for me was one of the reasons I chose the University of Sussex as they offered a good scholarship scheme for those who are the first in their family to go to university.

2. Get the best grades you can
Graduating (on time) and with good grades is key to attributing value to your time at university. Though there is so much more to the experience graduate jobs will often require a degree with a certain grade. If you are looking to go into a certain field then look at the educational requirements that you will need. The value of your degree increases and opens more doors the better grades you achieve and yes you can always supplement bad grades with work experience but its just easier to work hard and get the best grade you can. When deciding modules try to be strategic, find a balance between subjects you find enjoyable, are likely to get the best grades in and those an employer would want to see.

3. Join clubs and societies.
University gives you the opportunity to join so many different activities the list is almost endless and the costs are often very low. Subject orientated societies are also a great way to learn more about career options, attend networking events and obtain internships. Being on a club/society committee allows you to develop practical skills that are beneficial to employers.

4. Complete work experience and internships
During you degree your unlikely to have little financial commitments and as such it makes it the perfect time to undertake unpaid (or if your lucky paid) work experience and internships. These can really make the difference and make your job application stand out from the crowd. Take advantage of the careers help offered at your university and put this valuable resource to great use when applying for internships (or your graduate job).  Undertaking work experience will also help you to gain a greater understanding of whether a career is for you as it is far easier to change your direction early on in your education that upon graduation.  You may choose to do a year in industry, these are a great opportunity to learn more about a sector and may result in an offer of full time work. Though it is important to remember whilst they are normally paid, you also have to pay tuition fees for that year (though normally at a reduced rate).

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

Financial questions to ask before studying abroad

Studying abroad has increased in popularity rapidly over recent years. Though it can be a wonderful experience and an important part of your university life it is not an essential element to most degrees. It is important to consider several financial factors when determining if going on an optional year abroad is for you. It is important to assess not only if you can afford to study abroad but can you afford to go where you want. You may need consider alternative destinations as a compromise on the financial impact of a year abroad. Also don't forget studying abroad is not the only way to spend a year in a different country a year in industry (placement year) doesn't have to occur in your home country and could be the perfect opportunity to combine valuble work experience and international travel.

How much will the course cost? 
- will you be paying the tuition fees prices for your current school whilst abroad or increased fees as an international student?
- How much will it add to the cost of your degree tuition?

How much value will it add to your degree?
- This means asking why are you wanting to do a year abroad. If its just because you just want to visit  a country or your friend is applying too then perhaps an extended vacation would be better (and more cost efficient). Whereas, if you are doing a language degree then studying abroad is highly beneficial to the development of the skills you are using in your degree.
- Think about the quality of the univeristy you would be studying at does it rank as well or better than your current university.

What is the cost of living in that country?
- Depending on where you go the cost of living could be a lot more or a lot less than you are used too.
- It is also worth looking at how currency exchange rates have been over the past months are you going to get more or less for your money due to the exchange rate.


Do they offer scholarships, grants and work programs?
- Programs such as the erasmus scheme offer up to €300 a month grant for studying abroad.
- Will scholarships you have from your current university still apply on your year abroad and after?
- Does the university you are attending abroad offer any scholarships to exchange students.
- Would you be able to work whilst studying abroad. This will depend on visa restrictions and varies from country to country.

How much will additional costs be?
- Flights can be pricy if it is long haul. How often will you expect to visit home over the year?
- Cost of visas, passports and immunisations should also not be forgotten.
- Study abroad programs also offer lots of excursions and trips for students to participate in.

Did you go on a year abroad? What was your experience?

Save money cancelling unwanted subscriptions.

We've all done it signed up for an online service, movie streaming or gym membership. You may have even signed up for a free 'trial' period on the basis that you would cancel before you have to pay.  Yet 4 in 10 Brits remain paying for services they simply don't use.  At the start of the year we cancelled a movie pass subscription pass C had (that we really weren't using) and saved almost £200 a year. 

Likely culprits

These are the services which are the greatest pitfalls and have the most underused subscriptions. 

• Gym memberships
• Magazine Subscriptions
• Credit Reports
• TV streaming
• Music streaming
• Donations
• Weight-loss
• Subscription boxes
• Delivery services
• 'deals' subscriptions 
• Insurance 

However, you don't have to let subscriptions be a drain on your bank account. Follow these simple steps to help re-organise your finances and clear out the clutter. 

1. Know your Direct Debits and Standing Orders.

This is relatively simple to find if you do online banking (there should be a tab for you to see what direct debits and standing orders you currently have set up). If you still have paper statements then the task is a bit more time consuming but you will see on the statement that the type of payment is show and this will denote if its a DD or SO. Make a note of what it is for, how much it is and how often.

2. Asses your bank statements.

There may also be regular payments coming out of your account that are no by DD or SO but are by authorised card payment (or paypal). It is useful to look to the last 12 months of statements as there may be amounts paid less frequently (i.e. annually). Basically keen an eye out for regular payments of the same amount the the same company. Again make a note of what it is for, how much payments are and how often they occur. 

3. Determine which subscriptions you want to cancel.

Not all of the subscriptions you will want to cancel, but now you have a list of everything so you can start to assess the situation. Think about how many times you have used the service since you last paid. Is it a necessity? It is still useful?  Is it value for money (it may be worth thinking about cost per use)? Also it is good to consider how much you could save by cancelling a subscription.  Use the Money Advice Service quick cash calculator to find our how much you could save. 

4. Cancel what you don't need

So you know which subscriptions you want to cancel. You may wish to write down the subscription renewal date in your diary if you want to wait until just before renewal to cancel. However, this leaves you susceptible to forgetting and also sometimes there are notice periods as well. If it is being paid by Direct Debit or Standing Order then simply phone up or write to your bank to cancel that. However, if payment is being directly made from your card then you must tell the company taking the payments, preferably in writing, and give a copy of this to your bank or card issuer.

How much have you saved money by cancelling subscriptions?

Break the habit of overspending

There will be times where Chris and I are doing really well on our budget.  Then suddenly a bunch of stuff mounts up and we have overspent in loads of areas. Birthdays we forgot about, feeling to tired to cook so buying take-out. We've all been there before, but we have found ways that have really helped us to avoid overspending on our monthly budget.
Overspending is problematic in several ways. It can become a vicious cycle and addictive and lead to a downwards spiral towards a life that is filled with debt. It also has an effect psychologically it makes you feel frustrated and disappointed in your inability to stick to a budget. It brings an initial high (just after the purchase) followed by a low (when the reality of the situation has sunk in). This creates a cycle where the only way to get out of the low is to make another purchase.

Give yourself splurge money (pocket money).
If you make your budget too unforgiving especially by forgetting to factor in a little bit of splurge money you are more likely to go and blow the budget in other categories. Having a set amount to spend results in guilt free shopping where you are more likely to spend less.

Keep it realistic.
If you make your budget too restrictive too quickly you will find it really difficult to stick to the anounts you have set. Gradually decrease the amount you spend in different areas do that you feel less restricted by your budget.

Go shopping with a list.
Before you head out make a list of what you intend to buy. Evidence shows going out with a list means you are less likely to become enticed by special 'offers' or purchase unnecessary extras. This principles applies to all kind of shopping an not just groceries, and is even applicable when shopping online as it is about becoming focused and intentional in your purchases.

Know that the true deal is in not spending at all
Avoid being lured into special deals and being enticed to make purchases because you have a coupon. This is what the marketing companies are bargaining on, it is in their interests that you increase the amount you spend because you perceive that you are getting 'good value'. Use coupons wisely and not as a carte blanche to buy what you want.

Accountability buddy
Having a friend with you who will you hold you to account and make you stop and think before you make a purchase can be a huge help. This could be a friend, partner/spouse or parent. Whoever it is make your goal know and they can help you on the road to achieving. If you haven't yet fully accepted the nature of you overspending habit then having a friend can help you understand where you are overspending and help you see the situation through new eyes.

Sleep on it
So you see something amazing online or inshore and your just hankering to buy it. But do you really need it, does it really fit into your budget. Take a step back from the situation, go home and sleep on the idea for a few nights and then reassess the situation. Do you still think you need/want to buy it, does it really work out in your budget try to reflect on the potential purchase rather than acting on 'in the moment emotions'. This allows you to take a more balanced reasoning approach towards your purchase making.

Stay out of the store
Do you have a store that every time you go in you buy something a shop where you 'need' everything inside. Avoid aimlessly shopping in these kinds of store and often the best way to do this is to avoid even going in the shop. Don't make shopping your hobby.

How do you overcome the temptations to overspend?

If you are new to my blog, I am all about finding ways for students and millennials to make and save more money. Here are some of my favorite sites and products that may help you out:

• Start a blog. Blogging is my side-hustle just a few years ago I never thought it would be possible. You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

Demystifying UK student loans

Something we both found was when we were applying to University in the UK you are not given much information about student loans. I felt fearful having heard horror stories of US student loans about it being the only debt you can't default under bankruptcy under. However, the system in the UK is very different and is much more like a graduate tax. 

Key information on current student loans (2012 onwards)

• Public universities can charge unto £9,000 a year maximum. You can take out up to £9,000 in a tuition fee 'loan'. This article will not address student finance for private universities due to their rarity in the UK. For part time students you can take out up to £6750 a year. 
• You can take out a maintenance loan (and grant if you started in 2015/16, the've scrapped these for future years)
• You start repaying the April after you graduate at the earliest
• You repay 9% of everything you earn of £21,000 (this threshold was originally set to increase with inflation. However, it looks like they may be retroactively changing this and keeping it at £21,000. This means in reality, due to the impact of inflation you will pay more).
• Example- Your earn £25,000 (Pretax). You earn £4,000 over the threshold so you pay 9% of £4,000 which is £360 a year. 
• If your earning less than £21,000 you don't make any payments on the loan.
• Remember bonuses count. The Student loan company look at your monthly paycheque so if you go over the £1750 monthly threshold even though you don't normally, that month you will pay towards your loans.
• 30 years later it gets wiped (counting from the April after you graduate)
• You have the option to pay off early. Though this option should be carefully considered as unless you are likely to pay off all the loan in the 30 years. This is obviously hard to predict but unless you have a high grad starting salary you are unlikely to reach the average salary over the years to have it completely paid off. Also consider if you will be taking time out of work for a number of years (i.e. to have children) this reduces your chance of paying it off. 

Assume you maintained a salary of £25,000 for the 30 years you would only pay of £10800 of your loan (if you took out 3 years of tuition + maintenance loan) this is likely to be less than half of the amount owed. 

However if you earned £45,000 average over the 30 years you would repay approx £64800 which means you are likely to repay the amount owed within the 30 years.

Why they are more like a graduate tax

• There are no debt collectors. They payments come out of your pay check the same way your tax and national insurance does. You never see the money. 
• There is no penalty for having your debt wiped
• It doesn't affect your credit rating. The only time it affects anything is on affordability checks for mortgages i.e do you have enough money coming in to cover expenses + a mortgage.  
• the more you borrow doesn't increase the monthly payments

There are some different rules for Scotland, Norther Ireland and Wales. 

• Scotland- Scottish and studying in Scotland- tuition is free
• NI- NI and studying in NI max £3805
• Wales- Welsh and studying in Wales max £3810

Basically do not worry. Though we advise taking advantage of as many grants and scholarships as possible and if you don't have to take out the maintenance grant don't. But don't let the cost of tuition put you off getting a worthwhile degree (this is an important part, make you degree worth the money, think wisely about what you study and what employment potential it has). 

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

Eliminate your car payment

Having a car on finance has become the norm. For many it has become a way of life, perpetually having a car on finance. The allure of that shiny new car with all the modern specs has caught you and now the dealer has your wallet. But it doesn't have to be that way. Over the duration of your car loan odds are you will pay £1000s in interest (more interest the longer the duration of the loan). The average duration for a car loan is surpassing 5 years now, meaning people are paying more interest than before. 

The average car payment is $480 a month. If you were to purchase an older, second hand run around car, with cash for around $1000 (see gumtree or craigslist for plenty of options). Such a low cost car could be the equivalent of 1-2 months car payments. This allows you to save what you would have spend on a car payment each month for a upgraded vehicle. 

Doing this in 24 months (assuming you savings make a return of 5%) you could have $12,000 to upgrade with. Plus the original cash value of your car, because older cars don't depreciate that much. Thats one serious upgrade, and whats even better its a debt free upgrade. So many people find themselves paying car payments all their working lives.

If you continued to invest that money each month, then in 10 years time you would have just under $75000. Think of all the amazing opportunities having that sort of money would bring into your life. This just shows how much car finance is impacting peoples ability to reach their financial goals and in particular saving for retirement. 

If you have car finance its time to start working on paying it off as soon as early. It is important to understand what kind of finance you have (do you have a bank loan, Hire Purchase, PCP etc). Understanding what kind of finance will help you to make plans for paying off your finance. For example an increasing number of consumers are choosing PCP which means that you essentially rent the car with the option for purchase at the end of the lease (meaning you have to have saved a cash lump sum). We advise calling up your dealer and getting as much information on the type of finance plan you are on so you can make a comprehensive plan for paying off the loan. 

Here are some simple ways to speed up paying off your car

• Opt for bi-monthly payments and you'll slip an extra payment in each year this also helps reduce how much interest you will pay. 
• round up your payments. Say your monthly car bill is $480 round it up to $500 a month and you'll make an extra half payment each year.  
• Make extra payments has a tax return just come in, or done some overtime this month, put it straight towards that car. 
• Pay based on a shorter term - Decide when you want to have the loan paid off by and adjust the monthly payments to reflect the amount required to reach that goal. 

Do you have or have had car finance? How did you pay it off?

How to cut debt in 5 steps

Debt is reaching unprecedented levels, the average debt per adult in the UK is £28,877. 
Debt has huge negative impacts on quality of life. Almost half of those in debt find it negatively affects their health. Whilst 2/3 find it affects their ability to perform their job. 

With an new year here, why not take the challenge to work towards eliminating debt from your life. Paying off debt can feel overwhelming and it can be hard to know where to start. Follow these 5 steps to becoming debt free to help you along the journey. They are not an instant solution but guidance on your journey of paying off debt. 

Know your situation.
You may owe money here and there, but it is important to have a clear understanding of your financial situation. Create a list of all you creditors, how much is owed to each, what the interest rate is  and how much the monthly balance is. Doing this allows you to see the whole picture and understand what you have to payoff. 

Make a plan. 
Now you know how much you owe and to whom, it is time make a re-payment plan. Do you have a variety of interest rates or are they all very similar (or even 0%). If there is a large difference between interest rates then priorities the higher interest rate debts first. If there is little difference then work from smaller to larger debt. 
A mixture of these two approaches should allow you to determine the order you pay off your debt. Next you need to break them down into manageable payments. When focusing on a debt, remember that you still need to be able to make all the other monthly payments for the other debts as to avoid going into arrears. For example you may have a credit card debt of £1200 and be able to put £400 towards debt each months but other debts mostly payments equal £100 so you are able to put £300 towards that credit card allowing you to pay of that debt in 4 months. 

Implement changes. So you have your plan, now its time to make it a reality. First off stop accruing any more debt, that means stop using those credit cards. If its not in you bank account it cannot be spent. This will mean making cut backs, but that is part of this process of discerning between needs and wants. If you find this a challenge put the credit cards in a place where you won't use them (or cut them up). Use the cash envelope method (either physically or via a debit card) to keep spending under control and track all of your spending. Remember that once the cash is gone, thats it for the month. This can really help if you have a habit of making impromptu or splurge purchases. 

Cut back spending. So you've stopped accumulating more debt, now its time to look at where else you can cut back on in your budget. Look at luxuries such as cable TV and dining out and see what options for cutting back are available. For utilities and insurance providers it may be worth doing a comparison with supplies to see if you are getting the best deal or if it would be better to switch. These sort of big change will usually only happen once in the process so remember to always be on the look out for littler changes that can reduce your spending such as turning down the heating or taking a packed lunch to work. 

Increase your income. Look for ways to bring in more money. This could be taking on a part-time second job or casual work such as babysitting or dog walking. You may start up your own business selling goods such as on Etsy. Increased income may come from your current job by working overtime or selling off holiday hours. Apply this extra income to the debt reducing process to help speed things up. 

Getting out of debt is by no means an easy feat but the freedom it brings into your life when you succeed is immeasurable. 

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!

EveryDollar review

We may be a little late on the bandwagon but a little while ago we decided to give Everydollar (which is Dave Ramsey's newish budgeting tool) a proper try. Previously we had used it on and off, but quickly reverted back to the comfort of our trusty spreadsheet. We quickly realised that it is not designed to be used in the UK and so that hindered our experience. We were unable to download the app, nor could we change the currency so this hindered our experience to an extent. However, will do our best to fair review of it as a product.

What it EveryDollar?
It is an online budgeting tool that is linked to the concepts of Dave Ramsey's baby step program. There is a free basic option where you have to enter all transactions in manually. There is also a premier version which comes with a fee where it is all connected to your bank account. Due to being in the UK we were only able to try the free version. It is based on the concept that every dollar should be assigned a value, be it being spent or saved.

How to use?
Using EveryDollar is very simple. Sign up for an account (its advised that you do this on a desktop). Then add the categories in your monthly budget. As you spend throughout the month, add these transactions into the budget to track your spending. You can use either the desktop version or the app to track expenses during the month. The premier version through linking the bank cuts out some of the steps for adding transactions into the budget.


The positives
- Accountability. Having the budget linked to the baby steps (albeit only the first three) holds you accountable to where you are financially and the progress you are making. I love that it is linked into the baby steps programme and it really helps to keep you motivated on your personal finance journey. For us this is by far the best benefit from EveryDollar.

-Easy to use. We found the whole system very easy to use, edit and customise. This meant we were keen to integrate it into our routine and found ourself reviewing any purchases we had made during the day and tracking them. For those just starting out budgeting it provides a great foundation by guiding you to the categories that would be good to include in a budget. The help guides are clear and comprehensive if you do find yourself having any queries about how to use EveryDollar. 

- Visually attractive. Each category has a countdown tracker (the line reduces as you spend more of the monthly allowance and turns red if you go over). There is also a handy pie chart on the right hand side that allows you to see where your money is going into the various different categories.

- Accessible. Unlike the spreadsheet we were previously using we are both able to access the budget remotely without having to be on my laptop. Because everything is store on a cloud based system, this makes it super easy to access and great if there are several people using the same budget. 


The negatives
- Inflexible. It feels very much that it is designed for a regular income. Our income are very sporadic (being students) and as it doesn't allow for amount to be carried over month to month (because its not in line with the Dave Ramsey methodology). For us it would work better if we could carry over income, instead we had to create a 'checking account fund' and carry money over that way (making it a bit convoluted). Though we recognise that the majority of users will have far more regular incomes than most students.

- Incompatible. The app doesn't work in the UK (and many other countries), and the page can't be accessed on mobile (your just predicted to app store). This is frustrating as we are unable to update on the go.

- Incomplete. The latter baby steps (3-7) are not fully integrated into the system like the first three are. It would be nice for them to be more integrated for example seeing if you are saving on average 15% for retirement. As we are in the latter baby-steps it was therefore quite disappointing to us.

Do you use EveryDollar? How do you find it as a budgeting tool?

Financial goals for 2016

As the new year is already is full swing it has been the time for us to think about our goals and aims for the new year. We have a lot going on in 2016 from our wedding (which is this weekend!!) to graduations and so everything happening this year impacts the financial goals we have. Today we will be sharing our goals of the year.

1. Continue saving for a house deposit. We started contributing to Help2Buy ISAs in 2015 and so we aim to max out those. In addition to that savings account we are aiming to contribute all additional unassigned savings money to our deposit savings.

2. Save £2000 towards car. In 3 years time we will have the option to purchase a car and so we are saving the money each year so that we can purchase the car with cash to do that we need to save £2000 each year. 

3. Have a post-graduation option that doesn't incur debt. I have applied for several options, including my Bar exam (including scholarships), financial sector jobs, and masters programmes. What ever option I end up taking up it is important that it doesn't involve taking on debt. This means if I choose take one further education that there needs to be a scholarship involved to make it a viable option. 

4. C to take up another part-time job. At the end of December C and I made the decision for him to leave his previous employer as it was not a good situation. However, this part time work was important part of our finances and so C is now applying for other part-time work. We are in a position where we can manage without any extra part time work during term time but it would make things much easier and allow us to be more intense in our savings efforts. 

5. Expand my Etsy store. Since I opened it in mid 2015, I have seen it grow much more than I expected. But I would love to expand it further and add new products to the site as well as add new design options for the products already listed. I have found it really enjoyable owning a store and developing products and we have signed our selves up to a build your own business course at our church. 

6. Perfect out budgeting. We are looking to being more rigorous with out budgeting and accountability. Updating spreadsheet and cash envelopes more frequently. As we set up joint banking after the wedding, this should ease some of the logistical issues we have had previously. 

What are your financial goals for the next year?

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If you are new to our blog, we are all about finding new ways for students and millennials to make and save money. Here are some of our favourite sites and products to help you out:

• Start a blog. Blogging is our side-hustle just over a year ago we didn't think I would bring us any income . You can create your own blog here with my easy-to-use tutorial. You can start your blog for as low as $3.49 per month plus you get a free domain if you sign-up through my tutorial.
• Save money with gift cards Whether its for buying clothes, your weekly shop or dining out use Zeek to buy discounted gift cards to get more bang for your buck. 
• Use Swagbucks for your online searches. Swagbucks is a passive way to earn gift cards. Over the course of a year you could earn $500.  Swagbucks is just like using Google to do your online searches, except you get rewarded “points called SB” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. Receive $5 for signing up today.
• Try matched betting. Matched betting is a great way to may easy money online. Despite the name it is not gambling and could see you earn £500-£1000 a month for only a couple of hours work a day see here and here. For your free trial head to profit accumulator or join the Facebook 'getting started' group.  
• Sign up for a cashback site like Quidco. where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free £10 bonus!