Rabu, 07 Desember 2011

How Manage Your Money

How Manage Your Money
Managing money is usually hard to do, especially for college students. In college, there are unexpected expenses that could burn a hole in your pocket in minutes. There are handouts to copy, textbooks that your lecturer insists on buying, class get-togethers, transport fares, etc. The list goes on! Here are some tips to avoid an extremely thin wallet at the end of the month.

1. Keep a cashbook
Record your daily income and expenses in a nifty cashbook so you can make sure you don't overspend. It takes time and patience, but it's definitely worth the effort. Make your cashbook more festive by decorating it with stickers and doodles. You can draw a ------ where you've been good, and a ------- where you've been bad.

2. Make a shopping list
It will help you stay within your budget and show within your budged and show you what you can afford to buy. Decide whether you want to go shopping monthly, weekly or even biweekly. Don’t buy anything that is not your list.

3. Don't tempted by discounts
The big red sign with a large ‘50% off’ on it makes you want to splurge, doesn't it? If it's not something that you really need, don't give in to your impulse. It won't do to buy a bright neon orange backpack that seems cheap but you know you’ll never wear.

4. Don’t carry more than you need
Estimate the amount of money that you need each day. Take with you only slightly more than what you have calculated. The more cash you have on hand, the more likely you will spend it.

5. Stash away part of your monthly allowance
Buy a cute piggy bank and put in a bit of money every day. Be patient, and by the end of the month, you’ll have saved a handsome bit of cash!

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