Managing your finances as a student is a sure way to being happy and making
good grades. Yes! Students who spend their money wisely have an edge over those
who do not.
They do not over spend money as they’ve already mapped out strategies on
how to manage their money.
With this, we present to
you five important ways, you as student can manage your money:
Have a student bank
account
Having a student bank accounts is a great way to manage your finances as a student. The overdraft is there to help you control the amount of extra money you may need in an emergency. The real account is great to see how much is being spent as you can go to your bank for a statement of how much you’ve spent. From this statement, you can see if you are spending too much money or not.
Having a student bank accounts is a great way to manage your finances as a student. The overdraft is there to help you control the amount of extra money you may need in an emergency. The real account is great to see how much is being spent as you can go to your bank for a statement of how much you’ve spent. From this statement, you can see if you are spending too much money or not.
Write down your expenses:
Putting down your expenses is a great way to track your finances. Simply noting the amount you have spent will allow you know if you are spending as planned or you are spending out of budget.
Putting down your expenses is a great way to track your finances. Simply noting the amount you have spent will allow you know if you are spending as planned or you are spending out of budget.
Have a monthly budget
This is very important in managing your finances. If you spend a designated
amount each month, keep records of how much you spend every month, then you
will be able to track how much you are to spend in a year . This will help you
plan on how much money you need to live on and also allow you to see if you can
keep the monthly budget. The best part is that if you lower your monthly
spending fixed budget, then it allow you to save money for use elsewhere!
Keep emergency money
Keeping emergency money is a tip we highly recommend for you if you want to live within your budget. It is good to have emergency cash which is not part of your budget. This way, if you ever have any problems or emergencies, then you use the allocated amount to help in your situation. On the other hand, this amount is saved if not spent!
Check your statements
Review your bank statements each week will allow you to calculate how much is being spent per month. This then allows you to choose whether to increase spending or if you want to reduce your expenses. Either way, this will help to properly manage your finances.
Keep emergency money
Keeping emergency money is a tip we highly recommend for you if you want to live within your budget. It is good to have emergency cash which is not part of your budget. This way, if you ever have any problems or emergencies, then you use the allocated amount to help in your situation. On the other hand, this amount is saved if not spent!
Check your statements
Review your bank statements each week will allow you to calculate how much is being spent per month. This then allows you to choose whether to increase spending or if you want to reduce your expenses. Either way, this will help to properly manage your finances.
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