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Ten Smart Money Management Tips For The College Students

Updated on January 28, 2014

Ten Best Money Management Rules

Rule 1. Pay bills on time

Rule 2. Make a proper and managed meal plan

Rule 3. Participate in college event.

Rule 4. Give up smoking

Rule 5. Use public transportation instead of your own

Rule 6. Make room partner

Rule 7. Try to purchase secondhand books

Rule 8. Refer college Gym

Rule 9. Use your student discount

Rule 10. Always make a math


10 Smart Money Management Rule For The College Students

Rule 1. Pay bills on time


All the bills like electricity bill, water bill, room rent, internet bill etc should be paid on time otherwise while you will pay the bills you have to pay the late fees. So it is a great tool to save extra worth less expanse.

Rule 2. Make a proper and managed meal plan


Meal plan plays a very important role for the college student money management plan. Students should not take a costly meal plan. As much as possible they should avoid the fast food. Otherwise they may get ill and have to spend money on doctors and medicines. Sometimes it may be very expensive for them.

Rule 3. Participate in events

As much as possible students should participate in the college events. In these events there become the proper arrangement of food ,which will reduce their meal expense. Besides it there is always reward for the winner. So it may be in case form, which will improve your finance.

Benefits of Money Management

  • Peace of mind.
  • Happiness.
  • It saves you from spending more money.
  • It ensure your better future.
  • Refreshment of mind because of math.

Rule 4. Give up vices

Students should give up the smoking and other wrong habits. These become the cause of health hazard. All these vices affect the health directly. And as much as you will use them you have to paid for them. So it will create double dangerous for you. So always remember if you are a true student then leave all these vice right now.


Rule 5. Use public transportation instead of your own

Most of the students keep their personal vehicle like bike or car. There maintenance and oil expense are very much costlier then other alternatives. Public transportation is the best solution for this. It will keep save your money to expanse on your own vehicle.

Rule 6. Make room partner and share the resources


Single student should not live in a single flat or in single room. He should share his room and other service with other students. These services could be internet services,dish cables,and other services. These things will help to improve the finance of the college students.

Rule 7. Try to purchase secondhand books

We came to see that students spent a lot of money on purchasing new books while the syllabus of their courses are same like previous year. Instead of it if they will purchase the secondhand book then they will get 40 to 50 percent discount on them, so, they can save their money. Besides it there is some exchange offer on books, so they also can exchange a last semester book by a new one.

Rule 8. Refer college Gym

Most of the students like body building, so they join gym outside the college. Actually students like to refer the outside facilities which are more expensive then the college facilities.For the purpose of fitness students should use natural exercise and resources to reduce the expenses.Student should use their student discount and they will get discount on many services.

Rule 9. Use your student discount

Find epic bargains, freebies, samples, discounts, multi buys and other top secret deals that will save all you students some of your hard earned cash.Student discount can be seen everywhere. There is reservation in several departments for the college students, before purchasing the product take knowledge about the student discount and the purchase that particular product from your student account.

Rule 10. Always make a math

Making math is a most effective tool for more money management. By this tool students can control their extra expense spend on meal, clothes and other goods. They can control the future expenses also by making the calculation based on the previous factors. They can calculate the much discount rate before purchasing the new product.

Source

Importance of Money Management

  1. Money management is an art to collect resources for survive during the difficult situations and bad times. If you will open a saving account and deposit some regular money from your savings. Then it will be much helpful for you because bank gives you interest on your money.

  2. Money management is important to fulfill your personal expanses for which you can't ask your parent.

  3. Money management developed the skills of management which are very helpful for the future of the student.

  4. Fixed deposit money produce a good amount, so you can use it to help your family in necessary condition.

  5. Money management fulfill the sudden requirement of money on some emergency.

  6. Student learns to manage the things according to their budgets. They understand the way of living.

  7. Money management develop the communication skills of the students which are very necessary to survive in this changing world.

  8. Students learn to purchase the right things in stead of wasting money in collecting garbage.

  9. Find epic bargains, freebies, samples, discounts, multi buys and other top secret deals that will save all you students some of your hard earned cash.

  10. Students can know few more money making offers, competitions and restaurant discounts.

How many rules do you follow for the perfect money management?

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    • SatendraSaini profile image
      Author

      Satendra Saini 3 years ago from India

      Your welcome!................@vkwok

    • vkwok profile image

      Victor W. Kwok 3 years ago from Hawaii

      Thanks for the tips!