What is the best thing to do with my disposable income?

You have a loan and you are even questioning what do to with your 'disposable income'. Either the student loan schemes are rigged or PhD's are over rated.
 
Strife212 said:
My cash ISA is giving 3.6% at the moment. Can withdraw and deposit at any time (but I lose full years interest on anything I withdraw)
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Which is the issue really.

If your full years allowance (or more, infact, as there is no limit (well, no practical one) was in an eSaver Issue 4 instead you'd be able to take it out, put it back in, move it around, remove some, put some back, whatever you want with NO penalty. And you'd only get 2 quid a month less interest. It's taxable, but he isnt a taxpayer so for him, thats not so much of an issue.
 
Isn't there a basic rate tax that you pay regardless?

But yeah, if you intend to do anything in the short term with the money an ISA isn't the best idea.
 
mglover070588 said:
Oh and also, in before:
- Thai bride
- Rent boy
- Put it on red
- Put it on black
- Give it to me
- Worst I have money thread ever (I don't have lots of money I just don't have lots to spend it on in the near future)
- Jesus.jpg
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Well you've not ruled out a regular straight, female hooker - can I suggest tbat?
 
Cyanide said:
Well you've not ruled out a regular straight, female hooker - can I suggest tbat?
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tbat? Some sort of slang used in the sex industry these days?

Clearing your loan sounds like a magnificent plan to me tbh, even if it is a low rate, it is costing you to have it there.
 
d_brennen said:
tbat? Some sort of slang used in the sex industry these days?

Clearing your loan sounds like a magnificent plan to me tbh, even if it is a low rate, it is costing you to have it there.
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But it's costing him less than the interest his equivalent savings can earn.
 
So he earns a pittance in interest while being charged a pittance in interest. But he'd still have the debt in tact when he does start earning good money (touch wood)

I only said I thought it would be a good idea to chip away at the debt IMO :)
 
Save it for sure. Don't pay back your student loan, you'd be crazy to!

Yes it will be accruing interest BUT if in the future you are ever unemployed you do not have to pay anything back on it; it just sits there. Plus, when you do have to pay anything back, as long as you're not earning too much, the repayments are tiny. For example my loan is around 22k, my current job in Japan pays about 25k (threshold for repayment here is slightly higher than in the UK), and I repay £33 a month.

I say this because you might not want to buy any big ticket items right now, but later in the future you might want to. When you do, unless you have savings to pay for it, you will need to pay on credit card/get finance. These options will also charge you interest and will ask you to repay a minimum amount, even if you are unemployed. If this spending became large enough it might also affect your ability to get more credit, something a student loan will not do.

I was in the same position about 6 months ago. As far as savings accounts go, there is really no good option. I have 2/3 of mine in a two year fixed ISA at 3.75% and 1/3 in an online, easy access ISA at 3.05%, which is the safest option imo.

If I were you, I'd store up maybe 6 months worth in ISA/Savings acc, as a emergency fund to cover...emergencies. Then, if you are bothered about making little from it, take the rest and possibly have a play with stocks and shares (do some research first, even though the market is crazy atm, there is money to be made) or premium bonds.
 
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