A Student's POV on Money Spending

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To start with, I'd like to note that this is my first post in the Leofinance community. Interesting developments down here in this community and I'm proud to recognized as a member here. Today, I just want to share my thoughts on the issue of funds utilization as a student. Yeah! I'm a student who is aspiring to become a professional teacher.

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It is one thing to have money and it is another thing managing and utilizing it properly such that you can account for every dime spent. And as a student as I am, it is crucial that you spend money wisely else you might end up not having cash for important things. This is why I try as much as possible to manage the little money I get from my parents as well as my earnings.

I have seen people who have lots of money going bankrupt because of careless spending of cash. I have seen fellow students resorting borrowing not because their parents didn't give them even surplus funds but due to poor spending. They choose to party, drink, buy highly expensive stuffs just to impress or maybe follow the trend. Many times, some persons have eaten into their school fees which is very terrible.

Where a good financial management is lacking, people will always run into debts. So, I always try as much as I can to set my priorities straight and that way I get to spend first on important things. Generally, the following can help one to manage their funds judiciously;

  • proper budgeting: it is important that a person does what is called budgeting. Know the amount you want to spend daily, weekly, monthly or yearly depending on your earnings and stick to it. Don't buy things just because it is in the market. Properly allocate their funds and let it be on important things. This has helped me as a student leaving far away from home.

  • save and invest: this is also very important. You shouldn't use all your cash inflow on spendings alone. Try to save and also invest a portion. This way, one stays protected from future uncertainties.

In conclusion, it is important that as a student, you learn to spend wisely especially a student who isn't working and he's dependent on parents or guardians.

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9 comments
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Great tips and super important topic. I also think it's not how much money you have, but how you manage it and spend it. So people earning less and spending less might be actually managing their money better sometimes.

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Exactly! I agree with you bro
How we manage and spend determines how rich and wealthy we will be.

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I'm such an example of bad finance management during college. Congratulations for being a good personal accountant and welcome to this community!

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Oh sorry about that
I just hope you get to learn how to manage so you can become a great person

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This should be common sense for everybody. It's sad to see people spending like no tomorrow or trying to survive to the end of the month. Like you, I realized this pretty soon and I'm glad I did.

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