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Finance Tips For Students

Finance tips

Finance Tips For Students

You may wonder – why do I require finance tips when I’m a student? Well, everyone requires proper financial planning which helps them cruise through effortlessly. So what financial aspects you need to keep in mind as a student? Here are a few tips which may interest you:

Get an internship:

A college-going student has so many needs – academic, extra-curricular and entertainment. And for all of it, you have to depend on the pocket money your parents give you. Why not think of getting a bit independent and looking out for an internship in the field of your interest which will fetch you enough money with few hours of work daily.

Chart

Chart down your expenses:

Even though you’re a student, you will have your share of expenses – stationery, transport, fuel, food, takeouts, copies and of course, the fun part too – that requires a lot of money too. Chart out your, and all you have to do is keep your expenses within your income limits.

Avoid student loans:

A student loan isn’t as easy as it seems when it comes to repaying. So avoid these student loans to the best possible you can. Most students go overboard when it comes to the amount of loans they sign up for – they end up taking loans of higher amounts which makes it even harder to repay. Try and opt for scholarships or look out for other sources from where you can generate income in case you find difficult to manage your fees.

Credit card

Avoid credit cards:

The main reason why students end up spending uncontrollably and end up with nothing is hand is this – credit cards. So try to avoid using the credit cards in hand – it’s best to opt for debit cards or other methods of payment which ensure your spending is under control.

Try to invest:

It’s too much to ask of a student to save and invest, but hey, it isn’t entirely impossible! Sign up for a small investment plan where you can manage to save every month. This will also ensure that you have saved enough to cover you for a rainy day. It may be tough to save, but you can always try! You will thank yourself later for this little emergency corpus you’ve created!

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