The amount of money any student has to spend while in college is as different as the students enrolled. What you can spend will differ from your roommates and friends.
Money Management– Tips for Students
The main difference in students from rich and poor families is in the way they look at money. The ambitions, entertainment and basic facilities are to be the same for all level of students. Money management is to become money smart and not waste excess amount on wrong undesirable assets.
Tips for money management
• Keep some safe cash in different hidden places like under the pillow or in different books or in the backside of the chest of drawers, to find them and use them in emergencies. The trick here is to keep less money for unnecessary expenditure.
• Make it a rule to carry less cash in the wallet and also draw just enough money from the bank. The ATM card will give the time to think whether the withdrawal is really required or not.
• Keep a notebook or it can be the iPhone to keep a track of the expenses and withdrawals. A single glance at the expenditure on different heads in the last fortnight will give a clear picture of the finance status.
• The habit of saving will have an impact on the amount collected in future by a small step. Save the little regularly after meeting the expenses
• The payment of the credit card and debit card should be done in time. This will avoid damages and prevent late fees.
• One should be accountable to where and when the money is spent. It is wise to discuss about financial handling from experienced friends.
• This is the age of students to invest in financial education. This done easily by a book or even on the net or talking to experts in the field.
Money Management is a must for all people including students. During this period the students are just getting graduated and will soon start working towards fulfilling their ambition. This is the most important period of one’s life. Now is the time to start a career and a must to start planning the finances. As soon as education is complete one has to think of saving for future and the future of the family. The stage of being burdened with responsibilities is not far off.
Money management Tips for Students
Keep money at hidden places like under the pillow or in between pages of books.
Make a budget and keep a record of the expenses and money in hand
Learn the basics of financial management from books and take help from experts.