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Having a job is expensive
Being a student I am currently paying very little tax. My part time job fits me nicely within the personal allowance for income tax, I don't have a car so I don't pay road tax, I'm exempt from council tax. It's quite a nice situation.
But when I graduate and get a job, if you take into account what percentage of my income things like council tax and road tax and look at how much tax I will be paying on the top part of my salary (so it works out effectively less when you take my personal allowance into account) I will be paying a lot of tax next year. Check it out:
20% income tax
11% national insurance contributions
9% student loan repayment
4% council tax
1% road tax
That is a total of 45% tax!
The new year budgets are in
The first budget of 2008 is in and I'm £132 below where I should be. Which basically means I have £132 less to live on this term that I hoped for.
Given my total budget is £139, it's going to be a lean term.
No, I'm kidding :D. But it isn't a good situation, it's not exactly a small amount of money. Hmm, might need to see if I can find some cheaper hard drives.
You know it's bad when...
...your student loan doesn't clear your overdraft :o. This isn't a good situation. Anyone want to donate to the clear Chris's overdraft cause? :D.
Almost in the black
I'm almost there!
After the last pay cheque I got I got all the way to £7 in the black! Then my credit card came out. But my student loan is coming in. So it all balances out.
Fraud, fraud I scream
I looked on the online statement for my credit card the other day to find four transactions from Auto Trader's website. Which is interesting as I've never used that website.
Two of them were charges and two were refunds so I don't know what was going on there. But anyway, I've had my credit card company cancel my card.
Summer finale approaches
Well there is only two weeks of summer left. I have one more pay period to come (and then I will still get paid for some of my full time work once term starts) and a big overdraft to clear.
Will it be cleared by term time? Find out soon :p.
Bye bye bank balance
So, the credit card companies collected the money and now my overdraft is once again maxed out :p.
Actually, I still have quite a bit of money in it but I need that to pay off the money I've since spent again on my credit card. Role on pay day!
My bank balance is in credit
Yes you read that right - my bank balance is in credit! How cool is that? It's because money has been paid in but payments haven't been taken out yet, but still! It's celebrating time :).
Still haven't got my tax back.
I still haven't got my tax back
It's been two and a half months since the tax year ended and I still haven't got my tax back :(.
Luckily, when it does get paid back to me, it gets paid with interest so I'm not loosing out on anything.
It's such a mission to get it sorted though, I've been on the phone with the tax office who told me to ring another tax office. They told me to get my P60 form.
I got my P60 form and phoned them up again. They said I needed to complete a P90 form which they sent out to me and has finally arrived which I now need to find a load of other details to fill out on it.
Direct Debits get removed
Here's a trivia fact you may or may not know - if a direct debit is not used for an entire year then the bank will usually cancel it.
This is to prevent companies from suddenly taking money from people who set up a direct debit years ago and have forgotten about it.
I got an email from eBay yesterday informing me that the direct debit I setup to allow them to take sellers fees (for the one item I listed). Ironically I have an item I need to list in a few weeks. Oh well.
- Greetings! I'm Chris and this is my blog about debt, finance and generally having no money. Luckily as a student, it's just expected of me to have no money so it's all good.