Unsure about money

LegacyUser

One of my parents has managed to get me and my sister a cheque from SVDP. We're both currently students in college. Both of my parents work min wage jobs but always get by we've never been close to the breadline, but they also haven't enough to help towards college for me or my sister and we've both had to fund ourselves going to college helped obviously by the susi grants in place.

I'm feeling really guilty about the money. I have my cheque here but I haven't cashed it yet, my sister has already spent most of her on different stuff in less than a week. Neither of us struggle for money, but we're not flush either. Charity should be for those in need, and I'm not in need. I always have enough for rent and other bills, I'm able to go out the odd night same as most students do. I'm not missing out on anything save for frivilous things friends can afford like holidays etc. All I can think about when I see the cheque is the homeless family svdp have to say no to. My father is more of the thinking that charity starts at home, and is delighted to actually be able to "contribute" something towards us. He wanted neither of us to spend the money and to actually open a savings account, I'm 20 and I'd be the first one in the house to ever have a savings account if I did put it away.

I'd love to hear some other peoples thoughts because everyone else in the house doesn't have anything along the same thoughts I do.

Kalimah

I'd cash the cheque or open a savings account with it. In a couple of months just make a donation to SVDP and you'll be all square. You were obviously brought up well - to think of others even though you haven't a lot yourselves is great.

sellasheep

Seems very odd they wrote out a cheque considering they only give vouchers or top up your esb etc.

Tenigate

sellasheep wrote: »

Seems very odd they wrote out a cheque considering they only give vouchers or top up your esb etc.

This isn't true. They receive large grants which they distribute to students once a year.in addition, they also distribute some donations received as grants to the needy.
Typically €500.

Op, ignore your father's advice. Hes not someone you should take financial advice from. SVP paid you the money to use for education expenses and that's where it should be spent.. by all means put some of your income aside as savings but don't develop a mentality of hoarding money for the sake of it.

Teyla Emmagan

Put it in a bank a account and keep it until you need it (you will need it). It's the VDP's money to distribute as they wish, you are not taking it out of anyone else's pocket.

Xterminator

Hi OP

the funds have been set aside for you by SVDP who are not flush with extra money.

i suggest you cash the check lodge the money and do 2 things.

1. complete your course as intended.
2. see how you can give back. may be SVDP may be Simon etc, but volunteer your time to those who need it. Be a giver!

woodchuck

OP it's very unlikely that another family is suffering because of you taking this donation. I imagine they funnel the money into separate pots, so if you were to give the money back to them, it would just end up going to another student in a similar situation.

You might not need the money right now, but undoubtedly you will at some point during your education and starting out in your career. For example, do you have a decent outfit for interviews/vivas/presentations? Do you own a laptop? While these are not things you'll likely need starting your degree, they'll become more vital as time goes on.

And as others have suggested, you can donate money back to the charity at some stage in the future when you're more financially secure.

BUBBLES1978

Do not feel guilty about this money cash it and lodge it so its there as a contingency fund in the months ahead should you need it

Tell me how

Well done OP on being so considerate.

Like another poster, I suggest lodge it and keep it as a rainy day fund. Some day you may need it but if not it should give you comfort knowing its there.
When you graduate I'm sure you'll repay that debt to society tenfold.

If you're this conscientious, you've probably already done so.

Rubberchikken

Lodge it for the day you'll need it in college.
I donate to the svdp. And im very happy to see money given to students. Education is very important.
Some day because of that education you may be in a position to help someone who needs help.

Big Bag of Chips

Also, you don't need to discuss this with anyone in your family. Whether you lodge it, spend it, save it, give it back whatever, it's your money that has been given to you. You are an adult so you don't need anyone's permission or consent to do with it as you like.

LegacyUser

Thanks for the advice and the kind words everyone

I've lodged the money into my current account for now, with the plan being to open a credit union account and start gradually putting money into that to prove I can save as this time next year I'll probably need access to a car for work placement. I'm not reckless enough to spend the money just because it's there but afaik it's better for me to put several smaller amounts over time into an account than a lump sum to help show I can save and then show I could pay back a loan