Wednesday Wisdom #6
"Money, Money Money ...
... Must be funny in a rich man's world." Yes, this is a lyric from Abba, but all jokes aside if you're a student like me or just simply short of money, then today's post is for you!
Managing money is something that I completely struggle with. Especially, when something new is always being released, it makes saving money hard sometimes. For people that are planning a holiday or saving up for a car, you need to know what you can actually afford to spend.
Do not save what is left after spending, but spend what is left after saving - Warren Buffet
It is really important to be realistic when it comes to spending. Workout how much you need for whatever it is you're saving for and put a small (but sensible) sum aside every month. Then, work with what you have left. If you're like me and you have no discipline then open a savings account. Savings account are great because you sign a contract to not touch the money for an agreed time. If you touch the money, then you end up being fined! There are apps available on smart phones to help you mange money. Budgie is a great app for iPhones and it is free! It tells you how much you can spend a day, which is a great way of staying on top of your savings.
If you live off or live with (same difference) your parents like me, and your allowance isn't enough, then get a job! #Sorrynotsorry
Honestly, it is a great way to gain some independence and it feels, so great when you get your first pay check, because you worked hard for it. If you are unable to get a job because of school, then try and manage your allowance with the tips I mentioned before. Tutoring is also useful as you're perfecting tour skills, whilst earning money. If you don't want to be tied down to a contract, then event staffing is the way forward. HAP recruitment (formerly known as Barcode recruitment), is great as you decide when you want to work for when it best suits you.
Being a student is hard. Be alert, all my fellow students. People often forget that students get discounts, almost everywhere offers them. Always ask for a student discount! Know your bargains, the internet is a great place to help you compare prices. Being responsible also helps. For those, of you using a zip oyster card or any other discounted oyster card, try and use the bus. Many of us use the tube as it is quick and much more convenient than the bus. Plan your journeys, if timing is the issue. Try and use the bus if you can as you'll save money. If you have a bike get active and ride to work or school ( with a helmet please).
Food is a big part of our lives, mainly because it keeps us alive. Sometimes we've got to know when enough is enough. Eating out is something I just love, but it is a luxury not a necessity. A good pack lunch won't hurt as it will cost less and will probably be healthier.
It is hard, and from someone who pretty much spends all her money on payday, I'm still learning. Remember every penny counts!
xoxo
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