money management tips for students

Nov. 16, 2020
money management tips for students

Money management has become an overly used term in financial literacy conversations. Although it sounds easy, it takes practice to achieve this habit.

As a student, there is always a lot of new products to buy in a school environment. This coupled with the effect of peer pressure can lead to unnecessary and impulsive purchases. To avoid this, have a priority list where you review things and analyze how important they are before you buy.

Another way to manage your resources is by doing things yourself instead of hiring people to do them for you. A good example is cooking, if you cooked your own meals in school you will likely spend less money than when you buy cooked food.

Having a budget for everything is also very essential, you do not have to borrow money if you do not absolutely need to. Having a budget for your time and other resources like money will keep you disciplined as a student.