Learn to draw up your Budget
Though you need not worry about the fees of your schools and colleges since parents take that responsibility, but there are so many more expenses that you would like to bear yourself right? Be it small expenses for your educational needs or your social needs, you can easily manage all these if you draw up an effective budget for yourself. Here are some good budgeting tips for you students to manage your personal finances. Get a Money Diary Write down your sources of money and expenses in two columns in a page for that month. Write down all your expected expenses without forgetting to include laundry, food and book expenses. Also keep in mind about friends’ birthday expenses or other social get-together expenses etc. Even write down your daily expenses after you spend money for something. By doing this, you can get an idea about your total personal expenses and also where you can cut down a bit in order to save a little. Maintain your money diary carefully and regularly. This is the first thing that constitutes good budgeting tips. Increase and Organize Your Income Most of you get pocket money from parents. Do not spend it without planning.
Think about saving instead. Prioritize your necessities before spending so that you can cut down on some unnecessary expenses. You can also think about taking up some part time jobs during your holidays to earn an extra income that can add up to your savings and help you with your personal finances. But do not go over the board with your part time job because you can’t afford to neglect your studies. Avail Discount Offers If you need to buy something, keep a watch at the various discount offers and avail them. Be it in shopping, hair-cutting or clothing; look out for discount offers, money off vouchers etc.
Check out for student deals in restaurants, public transport, or even at the cinema. This can save you a lot of money than regular deals. Quick Tips for Students
1. Resist impulsive shopping.
2. Try and keep some safe cash hidden inside books and unused purses.
3. Do not go on a shopping spree with friends. Just stay committed, resist temptations, focus on saving, and follow these good budgeting tips and manage your personal expenses efficiently.