Students are always going to have a limited budget, but that does not mean you cannot have fun – you just need to be vigilant with the money you do have.
Top Money Budgeting Tips You Should Know
Our daily expenses increases as we grow. You may feel it very difficult to keep a control on the day to day expenses, but it is necessary to that if you wish to spend some money for your own personal things. It’s always better tokeep a budget set well in advance, probably at the start of the month. There are many money budgeting tips that can help you live with the monthly pocket money savings.
1. Keep an expenses sheet
Make a practice that yourecord allyour monthly expenses either in a book or in an excel work sheet in case you have a computer. Nowadays most of the students work and earn part time. So have your sheet filled properly with all your income and expenses. You should know how you are going to spend money in order to have good savings.
2. Have your earnings well organized
It is better to keep a separate account to for the money you save every month, which you will not touch on a daily basis. As you cut down your daily, weekly or monthly expenses your income can be a fixed asset for you .If you have been working during your vacation , you can use that money buying books , pay fees at the start of your admission year. Know the source of your income such as parent’s contribution, previous month pending wages which will help you to plan your expenses excellently.
3. Maximize your earnings
Plan your work time accordingly so that you would be working maximum 15 hours a week during weekdays .You may work fulltime during the weekend which will help you to balance your studies as well as work.
4. Try to get help Check with your university and try to get a free advice from the student advisor to know more how to manage your savings better.
5. Try to live with discounts
Always keep in mind that you take advantage of the available discounts by checking with the nearby supermarkets. Also make sure that you will not buy something which is not necessary for you.
6. Start learning cooking
Do not ever waste money for a cook; it is the time to start off with your cooking experiments. Try to get vegetables from the market at cheaper rates.
7. Change unnecessary things into money
You can sell your used books and other things either in the market, or via amazon or eBay. This amount can be used for your own expenses.
8. Manage your expenses
Be careful about the student loans, student credit cards and make sure that you understand the terms and condition before you opt for any of those.
9. Keep a track on your expenses
Keep all your bills, receipts safely .Make sure to check in multiple supermarkets to compare prices and buy according to the money in your pocket. Money budgeting tips can help you live happily throughout the month.
10. Learn to spend only when necessary
If you are staying in a shared flat or house you can share your expenses with your flat mates. You may buy a washing machine, TV buy sharing with your room mates. Such money budgeting tips allows you to save money and live peacefully.