Do you find that your pocket money barely takes care of you till the end of the month? Are you tired of the circle of enjoying in the first week and suffering in the last week? Then take note of these very important tips that will help you to stop going broke.
- Stop Borrowing Money: As much as this seems like the way out, it is actually the major reason why a lot of students are broke. The more you borrow, the less you have as pocket money. Also, most students don’t spend borrowed money wisely which basically removes a large chunk from their monthly allowance and doesn’t solve a specific issue.
- Start Budgetting: Before the money arrives calculate what you will use it for to the last kobo. Calculate your feeding, transport, school materials and personal needs. If you don’t budget you will spend the money anyhow.
- Avoid impulsive buying: A lot of students buy things just for the sake of buying. How to avoid this? Take only the amount of money you have as a budget out with you. Avoid taking out your atm with you.
- Save: Do not spend all the money you are given. Reserve some parts of it, no matter how small or big your monthly allowance is. Saving helps you to fall back on something in really tough times. Saving makes you richer and less prone to impulsive buying.
Try Out these techniques for the rest of this month and you will notice a considerable difference. Do comment your thoughts on this?