Running out of money is very common and evergreen problem for students. Being a student, most of you are completely dependent on your parents for all your expenses. Asking your parents for money every now and then after you get your pocket money is neither easy nor moral. But your expenses are high and you spend all your money as soon as you get your pocket allowance. So this means you need to train yourself to save some somey out of your expenses. Money saving Tips for Students could be a very helpful article for the most.
1. Daily Saving
Make a habit of saving some money out of your expenses on the daily basis. The amount might be small but it is still some amount isn’t it? Saving Rs 10 a day out of your expenses will be enough. Saving Rs 10 a day, which many of us might not even value, you can save Rs 300 a month. This might seem like not a big amount, but it can be a great contribution if your are planning to get something.
2. Cut an extra cup of tea or a cigeratte
If you are habituated of gathering around the tea shop and drinking 2 or more cups of tea, you can cut the number of cups of tea that you drink. Doing this, you will be taking care of your health as well as your pocket. And if you are a cigeratte smoker, you know what is increasing your expenses.
A cup of black tea generally costs Rs 15, and Rs 25 for a cup of milk tea. If you save a cup of tea every day, if you drink black, you save Rs 450 a month and as a milk tea drinker you could save Rs 750 every month. And if you are a coffee dinkeryou can save even more.
Try quitting your smoking habit. You will save a lot doing this.
3. Use Refills
Next when you go to the stationery instead of buying a packet of pen buy a pen instead with a packet of refills. Buying a refill instead of a pen you will save almost the cost of a single pen. You can calculate your saving yourself.
4. Prepare your Meal yourself
Sometimes eating outside is acceptable but don’t be so lazy that you don’t even prepare meal for yourself. If you are living away from home and you have to prepare your food yourself, you might feel tired of cooking everyday. But this is for your good, you save money as well as get healthy food in less expenses.
5. Invest
Invest your money in any finiancial institutions, and earn some interest, like bank, finance company or saving cooperatives. But before choosing any institution make sure that you can trust. Research on which institutions is offering more interests and other benefits.
The amount you save doing these are small in figures but you should not forget that you are not the one earning the that money you spend. And therefore, you must me wise enough to spend it wisely.
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