So you’ve left home. You’ve left that tiny little fictional town in East Lambroshire for the bright lights of Hull or Norwich or maybe even Cornwall (or London, that’s probably more likely). You’ve finally put away childish things and are well on your way to becoming a man/woman. You’ve got your grown-up looking shirt, your serious shoes and a photo of your childhood teddy Casey Jones for when you’re feeling a little lonely. You’ve also, a little churlishly, ignored your parents kind offers of a loan. They mean well but to you it sounds like they’re saying: “You’re a useless, financially reckless CHILD!” So, yeah, you’ve said no; you’re pretty determined, just like Sheep and Babe you’re going to make it in the Big City (OK, maybe you’re not as mature as you let on).

Two weeks in and you’ve spent all of your savings, have gotten fired from the only job that would have you and are pretty much living hand-to-mouth. You’ve only got two options, sell your beloved collection of vintage Dolly Parton wigs or go cap-in-hand back to your parents and ask for some cash. It’s not really much of a choice, is it?

A carefree Miss Chamberlain (far right) at my university graduation. Look at those skinny ankles! Don’t let the picture fool you, I was potless!

Once you’ve got those wigs under lock and key it’s back home to Lambroshire for a date with the folks. Of course, being nice people they’re only too happy to help but where others hear concern and sincerity in their gruff northern tones all you hear is smug satisfaction: “Of course dear, we’d be happy to help. How much do you need?” to your ears this just sounds like: “I told you so”.

To save some dignity you’re going to have to think of a repayment plan. You can’t have your parents believing that you are about as fiscally responsible as a pop star in an ornate fish tank shop. The thing here is to think of a loan from your parents as an actual bank loan, rather than two people whose trust you can abuse for financial gain.

Now they might be the more laidback type, who will tell you just to pay the money back as and when you can. Or they could be the more disciplinarian of guardians who will set an exact date for when the money should be repaid in full. Either way, make sure you have a date for when the money needs to be paid back. If they don’t set one, you should and then stick to it.

Of course, this might be quite difficult if you don’t have a job or some way of earning regular money. You could get cash from a variety of sources be it a student loan, grant, scholarship or, sigh, selling off some valuables to raise some funds. If you want to prove your maturity you’ve got to take this seriously.

When you’ve got some money coming in, you’ve then got to start budgeting. Budgeting is what being a grown-up is all about, which is why you really should be doing it anyway, loan or not. Take a look at your incomings and outgoings and see exactly you can spare each week or month.

You’ve got to be realistic here. It’s all well and good thinking that you won’t drink for six months or that you will only need £40 a month for food and that added extras like concert tickets, birthdays or QWERTY t-shirts can be avoided. Leave yourself a few spare pounds each week for those added extras that always pop up, no matter how hard you try to avoid them. Then, once you’ve added rent and bills into the mix, you’re ready to come up with the exact figure for what you can pay back each month.

Again allow yourself some leeway in the final payback date. Push it back a few weeks, even a month or two to take into account events you absolutely have to attend: Glastonbury (Dolly Parton is headlining after all), your best mate’s birthday in Bangkok or your favourite auntie’s wedding in Florida . Again some things you just can’t say no to will come up and you will have to miss a repayment or two. Banks may be flexible with this sort of thing (within reason of course) and so should your parents be, particularly if you are on track to meet your final repayment date.

For extra brownie points try to pay it off a week early. That’ll wipe the smug/concerned smiles/frowns off their silly/lovely faces.

Fortnum & Mason Hamper Giveaway

Want to win a fabulous Fortnum and Mason Hamper (worth £50)? Well enter via the Rafflecopter below and tell me what may have left you in a little trouble with Mr. Bank when you left home (all those years ago!). Has all this brought back some cringe-worthy memories?

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