Students are never broke as opined by all and sundry. The reason for this assertation is not far fetched. It obviously stems from the fact that money flows for a Student through Family, Guardian and Relatives who pump so much money into their bank accounts on a weekly or monthly basis, They also spend little on a commodity a non-student spend heavily on that’s a discount for being within the four walls of a university.
Thought provokingly, this might not usually be the case when you check through their bank accounts.
A catalyst for switching on the money pumping machine could be as a result of one phone call;
Student: Good Evening Daddy, I need some Money. My Pocket Money has finished.
Daddy: Ok Son, I will send you some Money tomorrow
Yes, I know you are actually not trying to swindle them, You really mean you don’t have money.
Sometimes, the phone conversation goes this other way:
Student: Daddy Good Evening, My Money has finished
Daddy: Ehhh? The money I sent to you last week, what happened to it? I will not send you any more money till next week.
Student: Mummy!!! You are not saying anything?
Mummy: My son, Daddy is always right. Be patient next week he will send something across.
Nonetheless, I am going to show you how you can save up some money for present or future use. I started having a fat account as a Student and this I achieved by saving. I still save though!
1. Peg Your Minimum Account Balance: This is my unique method of saving money. I do this by pegging a minimum amount of money in my bank account monthly. In a new month, I raise the standard by maybe #5,000. For example, if I had #25,000 in December, in January, I will have #30,000 as my new balance.
You can achieve this by allocating and distributing your income evenly, eat wisely and being mindful of your peg.
2. Do A Monthly or Bi-weekly Contribution: Introduce your friends or coursemates to a contribution. If you guys are 5, do a weekly or monthly specific amount contribution and one person earns everything in a week or month.
All you need to do is wait for your turn to earn everything.
3. Do not Throw Parties Around: Loud parties are expensive. Celebrate birthdays, good results, breakthroughs silently. Many more celebrations will come later when you’ve now become highly independent. Don’t carry girls and friends to clubs with your little pocket money just to prove a point. That point will be scored but it can not even buy you Tom-Tom later. #Receivesense
Setting your priorities right will help you save money.
4. Arrange Your Own Meals: Buying your own foodstuff and making your own food will save a lot of money that would have been spent in a local restaurant eating sub-standard un-nutritious meals.
Cooking yourself not only saves you money, it helps you eat healthy.
5. Always keep Your Money Safe: Lock your bag securely. Don’t throw money around or leave them littered carelessly. Someone will help you keep them when they find it. This way, you lose money.
Don’t be an easy prey for pick-pocketers.
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