That awesome moment when your loan arrives in your bank account... What do you do? Ball out like Diddy, and spend it in your first week on stupid things that you don't need and live in poverty for the rest of the term? OR are you more sensible and savvy with your money and do your best to make it last? Below are some actual ways that some (not so savvy) students have decided to spend their loans - Not to be recommended!
If you're one of the savvy students looking to stretch your pounds even further, then you should check out this hack that will give you cashback through your current debit card, on things you're probably already buying!
Tab writer Roisin Lanigan documented her experiences with buying a pug in her last year of university. The animal itself set her back £600 and we can’t imagine the costs of feeding, transporting and generally looking after a tiny (and admittedly adorable) dog were particularly appealing.
Always looking to shed light on the important issues of the day, the Daily Mail reported on a student who spent £10,000 worth of student loan on plastic surgery. This sounds like a bad idea until you consider that we all probably spend the same amount on pizza and alcohol and definitely don’t improve our appearance in the process.
It’s hard to resist the allure of the student holiday. When a huge pile of cash just lands in your bank account the possibilities look endless and travelling the world is just about the most appealing fantasy there is. Unfortunately for those of us prone to wanderlust, even the most generous student budget wouldn't put a dent in the $1.5 million that one Chinese student apparently summoned for the most expensive uni break ever.
Apparently as many as 11 out of every 500 students spend their student loans on cars. We’re going to assume these lean more towards the second hand hatchback side of things rather than the kind of super vehicles you see on motivational Instagram posts.
A Bust of Elvis Presley
A survey conducted by Money Dashboard on the strangest things that students have ever splashed out on presented this interesting gem. Whether the buyer was looking for a novelty gift or was just a huge fan of the King’s work, we’ll never know. It could always be worse: another respondent to the survey claimed to have splashed out on...
A life-sized statue of Nicholas Cage
No, we’re not sure why either. Perhaps it was because of his status as a national treasure?
THE MONEY-SAVING HACK
Alternatively, you could spend your money on stuff you actually want AND earn money while you do it with this awesome trick! Quidco have teamed up with over 40 high street retailers including River Island and Argos to give you cashback on any purchases you make in-store. All you have to do is link your bank card to your Quidco account here (takes less than two minutes) and carry on with your everyday high street shopping. You will then earn cashback on things that you are probably already buying. It's definitely worth doing! Think of all the life-sized statues of Nicholas Cage you can buy with all that saved cash! Or, on second thoughts, maybe not...