Managing your pocket money

Managing your pocket money

  • November 11, 2016

When it comes to managing your money, you should have a plan and stick to it. We have a few useful tips that will help you spend your money wisely, so that you don’t find an empty wallet at the end of the month.

 

Take advantage of student discounts

Being young can’t get sweeter than this. The perks of being a college student is that you get special discounts pretty much everywhere from cab rides, restaurants, movie theaters, stores, etc. You can often get a 10 to 25 percent discount by simply showing your student ID, so make sure to ask for any student offers at the places you visit frequently.

 

Pack your lunch

It’s much healthier and more economical to pack your own homemade meals, so instead of spending your money on fast food, prepare your own lunch. In addition, eating out can be quite expensive; you can use that extra money to feed your piggy bank.

 

Make payment schedules

Try to remember your payment dates by heart. You should make a habit of setting reminders in either your phone or computer to never miss a payment. Technology exists for a reason, so put it to good use and be responsible, because adulthood has just begun.

 

Don't spend your pocket money all at once

Everyone wants to blow off some steam from time to time after a long day in college, but spending your pocket money all at once or worse yet, throwing it around can get way out of hand. The smart thing to do would be to divide your pocket money by four for each week of the month, or by two for half a month in order to be on the safe side and avoid taking the risk of spending the last days of the month broke.

 

Don't get seduced by fancy window shops

We all have guilty pleasures and shopping is one of them. Everyone has a weakness for shopping, some more than others. It’s nice to look good and stay trendy, but you should think twice before you decide to enter a store to shop. Resist the urge of buying clothes or accessories, which you don’t really need.

* Check out BLOM shabeb’s products for students that can give you an extra edge when trying to save a couple of dimes!

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