Students: Manage Your Money Well

If you were able to enter a good university by getting a personal loan, you have to be frugal with your
finances. Remember that a loan is a serious obligation that has to be paid back. There are a lot of things
that you can do while studying to make ends meet. Here are a few examples that could prove helpful.

1) If you are still getting an allowance from your parents, save a portion of it in your savings
account. The habit of saving that is instilled early on will do you well in the future. Spend only
what is necessary for your education. You could splurge on other items that you want once you
finish college and you are earning well already.

2) Have a garage sale- do you have old items like clothing, shoes, books, records or knick knacks
that you could still sell? These can be converted into cash. Other people are looking for good
deals in garage sales and you could provide this for them. Advertise your garage sale in your
school, church and neighborhood. Be sure to have ready change available and lots of plastic
bags to put the items in.

3) Use your credit card wisely- if you happen to own a credit card, do not use it for cash advances
and do not charge anything that you cannot afford to pay when you are billed. Credit card
interests are very high and you cannot afford to be burdened with this when you are still
studying. So remember to charge what only what you can pay for.

4) Bring food to school- this is one of the cost-saving steps that you can take that is not hard to do.
Wrap a sandwich from home or put that leftover meatloaf that you had from dinner last night.
Bringing food to school will save your lunch money. You can save your lunch money or buy other
things that are more essential for your education.

5) Tutor other students- do you have a knack for teaching slower learners who would be willing to
pay for your skills? You could earn a little extra on the side by tutoring your classmates. This is
a good business deal since you are helping your classmates in their needs and your needs are
being met also.

6) Ask your librarian if you can be an assistant librarian- you can also get paid by helping out
in your college library. Your librarian might require some help with the books that are being
borrowed and returned. You could ask to be compensated by the hour that you assist in the
library.

7) Ask your guidance counselor if you can help with other school work-there might be other offices
in the school that could need help. Since you need the money, your counselor can refer you to
some positions within the university where you can help out.

College life is one of the most memorable experiences of student life. Make it relevant by being
responsible. Use your time in college by cultivating good habits like saving and getting odd jobs that can
add to your credentials later on.

 

This is a guest post submission from approved.co.za 

Student-Finance.com.au is not a credit provider and does not act as a intermediary between any credit providers. This website does not provide Financial Product Advice or deal in the sale of any financial product. If you require this service it is recommended to seek the help of a professional. You should consider your own specific circumstances before making any Financial decision.