Effective Money Management for Students: Prioritizing Spending and Creating a Budget, Essays (high school) of English

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Money Management

In this day and age, it is almost impossible that you get through a day as student without spending your money. Fare, food, water, supplies – all of these things cost money. If you don’t monitor your spending, you will quickly lose all of your money at a blink of an eye. It is an essential that you learn how to manage your money in order for you to save it up for something important. Here are a few ways on how you can successfully manage your money:  Know your priorities Decide on what is important to you. Think of the things that matter to you most at the moment. Do you want to earn for a new pair of sneakers? Do you think that a vacation is long overdue? Or do you want to start an emergency fund for those “just in case” moments? Whatever it may be, align your goals with your spending habits.  Make a budget List down all the things that need to be paid for. Total all of your expenses so that you know what to focus and cut on. Your goals will come into play here. For example you are a student who commutes

everyday. You can choose to walk the few remaining blocks to school instead of taking a tricyle or you can avoid buying street-food so that you have fare for the bus tomorrow morning. These little things will be huge in the long run. You have to make sure that you spend less than you are given or earn. Strictly follow your budget day-by-day for at least a week so you can see if it suits you or not. If you aren’t facing any difficulties with your budget, you can leave it as it is. But if you are unsatisfied with the way things are going, you should remember that you control your money and not the other way around. The art of money management isn’t hard to learn. With the right amount of perseverance, patience, and discipline – you will quickly see how easy it is to earn. We shouldn’t spend all of our money on things we don’t even need. What is crucial is that we get to save for the important things in life.