If there is one thing you wish to include in your school curriculum, that would be budgeting and saving money. Whether attending in an international school in the Philippines or not, every student should know how to budget their allowances. It’s easy to always ask your parents in having money for every day but the feeling of being independent and wise about your finances that you don’t need to ask help from them is worth fulfilling. Here are fool-proof ways to save money while you’re still at school.
Make a Budget
Some students are given allowances on a weekly or monthly basis. Creating a budget will help you know where your spendings should be. Include your transportation, food, fun money and savings. Note that your budget should be enough to cover all your expenses for the whole week or month.
Track Your Spending
Having a notebook or budgeting app on your phone to keep track of your expenses is one way of knowing where your money goes and be more aware of your spending. Cut down unnecessary expenses if it’s already way out of your budget.
Have a Side Job
Side jobs can build experience needed for your chosen profession. Through online tutorials and websites, the internet is the best place where you can learn for free. If you like to bake, try selling pastries to your friends and classmates. Do you know any students needing help in their thesis? Transcribe interviews or edit their thesis before passing on their work. Doing this help you improve on the skills of your related field and at the same time earn money while you’re at school.
Plan your Meals
Another way of saving money is planning your meals ahead of time. You will save more money if you refrain from buying food from the cafeteria. Bringing your own bottle of water is a great alternative than to buy sugary drinks almost every day and it’s cheaper and easily quench one’s thirst. Plus, bringing in meals is much healthier and delicious if you make your own meals.
Learn to Say No
It’s inevitable for students to hang out after class whether going to a nearby mall, coffee shops or at a fast food chain. Be firm in saying no the next time someone asks you to go with them as you’re trying to save money. Volunteer to suggest the next outing and try including activities that don’t need any monetary value. Take advantage of free parks and events that you all get to enjoy without spending a fortune.
Make Use of Student Discounts
Just by showing your ID card, you get to enjoy discounted prices whether you’re commuting, eating at restaurants, museum entrances and book stores. Always ask the store for a discount before purchasing an item.
While budgeting and saving money isn’t taught atan international school in the Philippines, it is still your responsibility to budget wisely. By starting young, you will be able to understand the importance of financial freedom and saving money is just the start in being independent and being smart about handling your money.