7 ways to manage your pocket money this semester

Nigerian students usually find themselves in Brooklyn when they have completely run out of money and hunger is becoming an unbearable partner.

This happens to almost all students on campus because they are in an environment where they are entirely free to spend their pocket money however they like.

And since there is nobody to question them about how they spend their money, they are bound to go broke.

However, in order to avoid finding yourself in this situation this term or semester, these seven useful tips will help you manage your money at school.

Create a budget and stick to it

Often time, students run out of money because they cannot account for how their money is spent. And this is because they don't have a budget for their expenses.

If you don't want to get broke like last semester, you just have to come up with a budget plan that states how much you will spend on a daily basis. And then stick to this plan rigidly like your academic success depends on it, and make sure you do not spend outside of this budget plan.

Shun extravagant spending

It is a new semester and it is too early to start forming like a baby boy for your course mates by paying for everything. Remember Christmas is over and you are in sluggish and dry January.

Try to avoid everything thing that might propel you to spend more than necessary. You might even need to turn down invitations to certain spots on your campus that might require you to spend like a boss. That extra money you are going to spend on drinks for your friends might be the money you'll need to feed yourself when the semester is going to an end.

ALSO READ: These 5 apps can make you become a better student in 2018

Use resources available for students

Depending on campus resources meant for students will also help you save some money. For instance, if your lecture room or the hostel has wifi, you might not need to buy data throughout the end of the semester. Use the school internet facilities at all time to download and do your assignments.

Borrowed required textbooks from library

Check your bank account and your purse very well before you decide to purchase some books. If you don't have the financial power to buy certain books that are necessary, you can turn to the school library to borrow the books.

Buying books, of course, will aid your study but if you spend your last kobo on books, you will surely not have the strength to read them. So, take the best decision in this regard.

ALSO READ:5 sure ways to get a job before you graduate

Attend school events for free food

School events can also help you save some money on food. Try to attend as many campus events as possible and make sure get their snacks and drinks before you leave.

And if you don't do snacks you can raid parties like convocation ceremonies on your campus and eat to you no longer feel the need to eat again. Not all students can do this though, but if you can attend events, it'll save you a lot of money.

Look for students discount

In your drive to manage your money, you will have to learn how to hunt down great deals. Before buying anything, check vendors that are offering students discounts. You can search for popular e-commerce platforms to get to know which sellers are offering discounts on what product.

Find a job or create a side hustle

Having a side hustle as a student could greatly help you save more than you can imagine if only you know how to balance school stress and work stress.

The good thing about getting a job or having a side hustle is not only the fact that you have extra cash which is added to your monthly allowance but you get to gain some work experience and entrepreneurial skills which would be useful when you are out of school.