Saving could be a smart solution to managing finance so that it doesn't get messy. Not everyone can save a portion of their money to save, let alone those who are still students.
This is quite a difficult thing to do, considering the source of the money earned comes from parents. Even so, you can do some of the following tips in managing finances so that you who are still students can save more effectively.
Saving Tips for Students
For students, the money earned usually comes from parents. Instead of just running out for snacks, this money should also be saved. With the savings, you can use it as you want, such as buying new gadgets, shoes, and so on.
Maybe students find it difficult to save some of their money, because the amount that parents give is not too much. But if there is an intention, you can still save even if the amount is not much. Here are some saving tips you can do.
1. Get used to saving every day despite the small amount
The first thing students have to do is get used to saving every day, even though the numbers are small. When you regularly save money, and every day, it's going to be the first step you can manage money better in the future.
Although small the amount but if you do it regularly, it will produce something big. If one day you forget to put the money in your account, you're going to double your usual amount instead.
2. Reduce the unfortunate hanging-out habits
Going out with a friend is not the wrong thing. But you need to know the spending limit if you're doing such hang-out. Remember that the allowance that parents gave us should not go to waste just to hang out.
You must have something else you want to have, right? So less hanging out. If you can't be away from friends, just ask them to come out and make fun of themselves without having to spend a lot of money.
3. Take provisions from home
Students and daily snacks are indeed unbreakable, this is what keeps the students from spending money on their parents. Well, instead of keeping out the allowance, it's good to bring your own provisions from home. You could call it bread, snacks, fruits, other interesting menus and drinks, and you could get mom at home to make you a favorite lunch.
4. Don't underestimate the penny
Often get change? Don't throw it out or leave it lying around like it's useless. You can keep it in a piggy bank or a jar, and in a very unexpected moment, this penny can save you!
5. Leave my allowance
When looking in the wallet still had quite a lot of money, few people seemed to be itching to spend it. It's a natural intuition, but you can get around to it by leaving it to someone you trust, such as a mother, a sister, a teacher at a school or a college professor.
In order to be effective, you can make a deal or a rule with the man the money is owed. Like the problems with the check every day, like the cash deposit system to the bank, and then when the money could be taken. This is so savings activities can be more disciplined.
6. Spend money wisely
After putting aside some of the hard-earned allowance, if the savings were already collected then spend it wisely. Don't lose sight of it and spend it on less useful consumptive things. Remember how you fought when you held it together bit by bit.
7. Create expense posts
In order for the allowance parents give them to be more clear where it has gone, it is better to start making their own expense posts. If you live in a boarding house and away from the parents, then for pocket money in some post. Starting from savings, food and snacks, toiletries and other expenses.
By sharing it in your own posts, it will help you regulate and monitor where your allowance is issued. So, if an individual's allowance gets sent to you, you're likely to be more skillful at managing it and not be working out so quickly.
8. Note expenses
After creating any expense posts to pay, don't forget also to record each expense you make. For example, expenses for snacks, transportation, tasks and so on. By logging or at least keeping a purchasing receipt, you can better know where your allowance is spent.
In the future it will be easy for you to sort out the expenses, which are important and which ones should be reduced. Therefore, the excess pocket money could be deposited in savings or other important items.
Recording of daily expenditure in the bud will help you be better at managing your finances in the future. So, don't underestimate any expense, make a good record so you can evaluate it later.
9. Differentiate between needs and desires
As a student, there may not be many who can tell the difference between needs and desires, even if they're quite easy. Why is this important? By understanding the difference of needs and desires, you can control the use of money to consumptive things in the future. So there is no reason not to save because it is running out of money.
In school or college, it should be the first step to be able to tell the difference between what needs and what needs are, and then which should come first. Necessity is something that must be met immediately and cannot be deferred, while desire is more flexible.
At this age, if you still cannot choose the priorities between the needs and the wants, you can be sure that you will be in a haze over money. It is possible that the allowance from the parents will always be depleted without leaving even less.
10. Take advantage of deals and discounts
In certain moments, many sellers, both offline and online, often offer deals and discounts. Well, to save you money, you could use a deal, a discount on offer. The rest of the expenses you can set aside for the savings or the savings.
Make sure to adjust to your needs and not just desire.
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