This article is specifically targeted at our readers currently in school – as an undergraduate or even postgraduate student.
Life as a student can certainly be an expensive venture. With this in mind, and the fact that little to no regular income comes in for the average student, it’s important that guidelines are mastered to ensure a financially secure university experience. It would be horrible to leave school and join the job market in debt, or be forced to drop out right in the middle because of it.
Here are some points to keep you financially secure while in school. Do take them to heart and share with your friends.
1. Make a budget (and stick with it)!
One of my favourite quotes is: “Fail to plan; plan to fail.” The same can be said when it comes to money issues as a student. The first thing to do at the beginning of a school year is to whip out your journal and write a detailed budget of your planned expenditure. That’s the easy part. Actually committing to buying those items alone is where self-discipline comes in.
2. Open a savings account
Always put aside at least 10% of your allowance or earnings in a savings account.
3. Don’t buy books you’ll barely use
Smart students don’t buy textbooks they’ll use for one semester. They borrow from the library instead, or from a student who just finished the course. Sadly, you won’t get to write notes and highlight sections on the pages, but it will save you thousands of naira.
4. Get a part-time job
From blogging to party promotion and even tutoring, there are plenty of ways to earn extra cash as a student. Choose jobs that allow you to work flexibly – perhaps over the weekends – and in a nearby neighbourhood to save transport costs.
5. Buy a printer with friends
You will be shocked how much money is spent on printing handouts alone at cyber cafes. Here’s an advice: buy a small printer with a group of friends. In the long run, you will end up saving cash that can be used for other things.
About the Writer: Ify Halim is a young Creative and a promoter of values through the force that is writing. Follow her on twitter: @MissHalim
