Thursday, 10 December 2009

Save Money during Your Study Period

In student life it is very essential that along with study you should be also involved some savings. You should aware of some money saving tips if you are a student. In a student life especially if you are an old student then you should earn money by some part time jobs or extra curricular activities so as to balance your routine study activities. This is when you need someone to give you some money saving tips so that you can accumulate some wealth. You should always think about your future. Particularly some times come when you will have the urgent need of money and this will really help you at that time. Below are some simple to carry out money saving tips that you can apply in your daily life. You might just find yourself to be a wealthy student soon.

1. Plan beforehand

This step should be applied in everything that you do, especially if you are a college student. This is one of the money saving tips that can prevent you from overspending even before you move into your dorm. Next, map out your cash flow chart. Consider where the source of your 'income' is. Apart from getting money from your parents, student loans, can you get yourself a part-time job to substantiate your monthly 'income'?

Since planning is the first step of your money saving tips, you should now set aside your budget for your fix monthly expenditure. Allocate your money for your food, books, etc and make sure you stick to your plan! Self-discipline is very important here. You might learn all the money saving tips in the world but if you do not stick to them, you will not succeed.

2. Save on expensive food

Having set aside a sum of money for your food means you have to find a cheaper way to get the food. This could be a point that you did not realize when you were still staying with your parents. However, now you should stop eating at fast food outlets as you will definitely find that you have exceeded your budget very soon. Try bringing your own lunch to school instead. It is more nutritious and less expensive. This is another of the numerous money saving tips that you can apply to accumulate more wealth.

3. Take full advantage of student discounts

Check out the outlets that offer special student discounts when you display your student ID. One of the money saving tips tells you to find ways to spend less money for the same quality products, i.e. looking for discounts.

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