5 Ways To Fruitfully Utilise Your Pocket Money In College

By Adhil Shetty | February 20, 2018

Developing healthy financial habits early in life will help you in the long run.

5 Ways To Fruitfully Utilise Your Pocket Money In College

Do you feel a sense of responsibility bearing your expenses yourself? We all have different definitions of freedom, happiness, and joy, but economic independence is one of the most empowering things that make you feel content.

As a college going student, your pocket money may be insufficient for you to take care of your expenses. However, with a little saving, you can make the best use of your money.

Buy Your Stationery Yourself 

Stationeries might seem inexpensive. However, considering the fact that you are still in college and need to complete academic assignments, the amount you spend on stationery like pens, pencils, markers, highlighters and more is not that small. In fact, try walking to your neighbourhood local store and save the commute cost as well. You can spend this saved money to buy your stationeries and feel good about the overall savings too.

Surprise Your Parents

Parents do so much for us without expecting anything in return. Make it a habit to save some bucks by not watching a few movies in the cinema hall or going out to eat and buy something to surprise your parents on mother’s day, father’s day, their birthdays, anniversary and more.

Pay Fees For Gym or Fitness Classes

It is really important to keep our body fit and active. College students are often too busy with their classes, tuitions, assignments and other academic things. However, it is equally important to engage the body in some sort of physical activity.

Based on individual preferences, a student should join a gym, fitness classes or pick u sport to play to keep the body moving. Also, remember to take your lunch from home and skip the habit of eating out. This healthy habit will help you save a lot from your pocket money and you can use that money to pay the fees of your fitness class.

Develop a Hobby

Every person is blessed with something unique and creative. Explore yourself and try to figure out the things that you love doing. Your hobbies will keep the mind engaged in constructive things. Make all the expenses you incur to carry forward your hobbies by saving a little from your pocket money. Use public transport rather than booking a cab, or go for shared cabs and you will end up saving a huge amount at the end of the month.

Pay Phone and Internet Bills

Phone and internet bills are a regular affair every month. You can pay these bills from your pocket money. This will not only help you give some relief to your parents but will also keep you alert about not overusing the phone. Cut down the expenses of unnecessary calls and be a responsible adult.

Saving and making fruitful expenditures early in life will help you develop good financial habits.

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About Adhil Shetty

Adhil Shetty is the Founder and serves as the Chief Executive Officer of BankBazaar.com. Adhil has a Master’s degree in International Relations with a specialization in International Finance and Business from Columbia University in the City of New York, and a Bachelor’s degree in Engineering from the College of Engineering Guindy, Anna University. Adhil is an expert in Personal Finance (Car loan/Home loan and personal loan) and he majorly consults on investment and spends rationalization for the Indian loan borrowers. His guidance is number based with real time interest rate calculations and hence useful for consumer’s real time query.

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