Saved enough to pay off my Uni fees (while in uni)

[lolzmonster]

Hey all,

I guess I felt this was the most appropriate place to post this, since I feel awkward about "bragging" about my personal finances, but as of my deposit of another $250 into my savings account this afternoon, I have saved enough between my investment balance and my savings account to pay off my 30k commerce degree fees!!

Of course, I consider my ability to save so much in no small part to my parents who who are willing to house me for minimal rent($125 a week) and my doing of the chores around the house. But I hope that this can be an inspiration for some of the students here to keep saving, because before you know it, you'll hit 4 then 5 digits, then maybe soon 6!!(well i tell myself that)

In terms of finer details, I started savings in 2011(when I started my course), and managed to save about $150- 200/month until about 2013, when I realised I wanted to get serious about savings, and started piling in 66% of my current income to my stockmarket account ( which is about $800/month going into savings), and using the rest for expenses. I would have never thought that I would be able to save enough to cross out my student debt before I graduated, but HOORAY I guess :).

Issue now is whether to pay off my HECS debt which has an interest rate of 2-3%, or leave it in vanguard.. but that isn't really a bad problem :P

[MandalayVA]

[minority_finance_mo]

Way to go! Paying off your education while you're at university is very impressive - you *should* be proud of yourself!

[gogo419]

Hey all,

I guess I felt this was the most appropriate place to post this, since I feel awkward about "bragging" about my personal finances, but as of my deposit of another $250 into my savings account this afternoon, I have saved enough between my investment balance and my savings account to pay off my 30k commerce degree fees!!

Of course, I consider my ability to save so much in no small part to my parents who who are willing to house me for minimal rent($125 a week) and my doing of the chores around the house. But I hope that this can be an inspiration for some of the students here to keep saving, because before you know it, you'll hit 4 then 5 digits, then maybe soon 6!!(well i tell myself that)

In terms of finer details, I started savings in 2011(when I started my course), and managed to save about $150- 200/month until about 2013, when I realised I wanted to get serious about savings, and started piling in 66% of my current income to my stockmarket account ( which is about $800/month going into savings), and using the rest for expenses. I would have never thought that I would be able to save enough to cross out my student debt before I graduated, but HOORAY I guess :).

Issue now is whether to pay off my HECS debt which has an interest rate of 2-3%, or leave it in vanguard.. but that isn't really a bad problem :P

Congrats mate!

I wish i had saved more of my money from the last 4 years. (I'm in my 5th year at UWA, Com & Econ double degree)

Don't forget that there is the 5% discount for paying your HECS debt before January 1 2016. Government is getting rid of it next year.

What uni are you at??

gogo

[cerebus]

That's quite an accomplishment, well done. You can brag about that.

[lolzmonster]

hey gogo, im technically 5th year at UWA as well :p but on commerce.

and thanks guys :) haha its good to have a community of people i can share this with

[HappierAtHome]

Awesome!! Wish I'd been that clever.

[Bob W]

You go and god bless your parents!     On the loan,   I would keep it and defer at every possibility.  In the us they are forgiven if you die or are disabled.   You'd be surprised how frequently people are disabled.  That and the rate is sweet.

[lolzmonster]

haha thanks bob! yeah nah in australia im pretty sure there is no loan forgiveness xD and im pretty sure the highest they got is 3%, since australia hasnt quite caught on to making money off student debts (although im sure they will soon).

Yea ive decided ill probably just leave it in my vanguard fund