Practical ways to make your student allowance last the month

The alert drops on your phone and you feel rich for about two days. Then reality sets in when power goes out and you need to find ways to charge your devices. Before you know it, the balance is gone and you are borrowing from friends. Managing your money in school is not about being stingy. It is about knowing what you have and spending it on what matters most.

Make a simple list before you spend

Take a small notebook and write down your fixed expenses for the month. This includes your room rent if you pay monthly, your transport fare, and your data subscription. Subtract this total from your total allowance so you know your actual spending money. Divide what is left by four weeks to get your weekly limit.

• Write down every single thing you buy, even a bottle of water.
• Keep your transport money separate from your food money.
• Avoid moving money from your savings unless it is a true emergency.

Avoid the hidden traps

Peer pressure is the biggest enemy of your wallet on campus. Your friends might want to hang out at expensive spots every weekend, but you do not have to join them. Eat before you leave your hostel so you do not buy overpriced snacks in the lecture theatre. Be careful with financial habits that promise fast cash and can trap you in a cycle of debt.

Keep track of your daily habits

Check your bank app balance every Sunday evening to see how you performed during the week. If you notice you spent too much on airtime, cut back for the next few days. Cook your meals in bulk instead of buying food from the canteen every afternoon. Walk to classes that are close by instead of taking transport for every short trip.