SPENDING GUID: THREE FINANCIAL MINDSET THAT'll PREVENT YOU FROM GOING BROKE

SPENDING GUID: THREE  FINANCIAL  MINDSET THAT'll PREVENT YOU FROM GOING BROKE

Running out of cash is very common among students but this can be prevented. These three tips stop you from getting broke on campus.



You'll never go broke when you have budget for everything  (Xtremeloaded Forum)
The statement ''I am in Brooklyn'' never seems to leave the lips of students who are constantly running out of money.


If you are one of such students, this piece will help you stop running out of cash.

See, financial prudence is not exclusive to certain people. As a student, you can control how you spend your money and stop running out of cash.


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Things to consider before you spend money  (Thisdaylive)
With these students' financial tips, you can save for the rainy day...and at least meet some basic emergency needs on campus.

1. Budgeting

Often time, students run out of money because they don't have a budget for their expenses.

Budgeting helps you to check the estimate of how much you'll be spending for a set period of time.

It is not hard to stick to your budget plan, it only takes discipline to stop getting broke.


Budgetting helps you to tell your money where it should go instead of where it went.  (Chill Maadi)
You only have to try to make sure not to spend more money than you’re taking in.

If you can obey this budget rule, you will never find yourself asking your friends to give you extra cash to go home.

So, learn how to spend within the limit of your means.

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3. Saving

You may want to ask how do you save when the pocket money you get from your parents is all you always have to rely on at school.

Well, I get the point. Forming a saving habit from your pocket money may seem difficult, but it is not impossible.


You can consider saving a small amount as a part of your budgeting  (Information Nigeria)
ALSO READ: 5 sure ways to get a job before graduation

You can consider saving a small amount as a part of your budgeting.

It doesn't matter how little you save, just get into the habit of putting a certain amount aside.

3. Don't borrow too much

Some students have the habit of borrowing once they run out of cash, it is normal, but the truth is, when you refuse to budget and you have no savings, the next saving grace is to start borrowing.


Don't borrow too much when you are broke  (Pulse)
However, while you resort to borrowing, make sure you don't borrow too much to avoid bad debt. You shouldn't be broke and still have a bad debt hanging around your neck.

This is why saving and spending within the means of your income is very important.