What would I have done differently?

Learn from other medics mistakes and avoid common money blunders.

Here’s what a sample of medical students told us, in our recent research:

I wish I had….

Spent less money:

Many students wish they had spent less in the earlier years of their course. The main ways they felt they could have saved money were by:

· Spending less on drink (especially in fresher’s week)

· Spending less on clothes and food

· Finding cheaper accommodation

"Food is so expensive when you are trying to cook healthily for one person … I would have encouraged group cooking/shopping efforts more."

Earned more money

Students also wished that they had earned more money earlier on in the course when they had the time. They felt they could do this by:

· Doing paid work when they had the chance either in term time or holidays

· Taking more time to research grants and sponsorship

"I would have tried to get a part-time job in first year as, in hindsight, it would have been manageable with time constraints and work load. This year I really do not think I would have time."

Been better with credit

Some wish they had not accepted money from the bank so readily. They wished they had

· Been more careful with their overdrafts

· Avoided credit cards

· Not rushed into taking out loans and taken time to research the best deals

"I would try to stay out of my overdraft. I’d use it for emergencies rather being constantly at or near the limit."

"(I felt) I was bullied into taking a professional studies loan ….. I was so stressed in the middle of my exams at the time & had so much to organise that it was easier not to search around for better deals."

Been more organised with academic funds:

Some felt they should have

· Found out about the funding arrangements for later years and for intercalation years

· Saved better for their elective

· Taken advantage of the low interest student loan

"I would have taken the full student loan available to me. At the time I had plenty of savings, and did not need the full amount, but as I have used up that money I realised that it would have been better to get the student loan at low interest rate, rather than paying more for bank loans."

Not everyone has regrets however.

Many students report that they are happy with their money situation and the way they have handled it.

"I have always been fairly sensible with my money. I know that I have a finite amount of money and when it's gone it's gone so I am careful not to overspend whenever possible."

Your student life

Your medical school is No medical school selected You are at Year 1 of a 5 year course When not in medical school you live in England