Managing your money can be a tedious task. Specially when you are an amateur and are already going through a transitional crisis in life 😛 We feel you, bro! We all have to go through this but as they say it’s all a part of the learning curve. Trust me if you get this right then you are sorted for the rest of life.
The key to this is planning and awareness. Yeah sounds like some big shot strategy discussion but it isn’t. By awareness I mean knowing what actually you like to do and where are you spending all the damn money. If you know this then you can plan your next step such that you don’t end up broke and ask money as loan from your friends at the end of every month.
Is this really possible that you end up actually saving some bucks for your smokes and parties and yet enjoy the whole month? Of course nothing is ever impossible in this world 😉
Just that you need to be a bit disciplined when you implement the steps. Yeah might sound like one boring advice (just like our parents give us 😛 ) but it’s more like been there done that so hang on to what I say…
Keep a notepad
Always keep a track as to where you are spending. Knowing the outflow will help you control and plan the expenses properly. Make sure you write it down in a notepad as to what are your regular expenses. After a week or 2 you will notice a pattern and you can then do amendments accordingly.
Cut through unnecessary kharcha
This is very important step. Once you know where you have been spending make sure you curtail all unnecessary kharchas. If there is something you can do without, don’t get tempted and spend the money. Self control plays a major role here! Spend only on things which are mandatory.
Beware of parasites
Once you enter you meet all kinds of people. Especially this kind. Let’s call them parasites. No, they won’t suck your blood but they will drain out all your money in the name of dosti yaari! Yes, they will promise to chip in next time or maybe pay for you in the next meal but the next time never comes and you end up being their survival kit. Such people are crocs, so stay away, and learn to say No! This way you will have the money for yourself and not feel guilty for spending enough on your own happiness. Sometimes it’s good to be selfish 😉
Plan the breaks properly
Smoke breaks! They add up. Considering you are going to blow up Rs.15-20 in 5 mins this is something that should be planned properly. Often entering college life gives one wings but it totally depends on an individual how much to spread them. Should i say more? I guess not, you are smart enough 🙂
Every drop makes an ocean
Every single day make sure you save at least some amount. Whether it is Rs. 10 or Rs.50. This way you will realize the value of every penny at the end of the month. Don’t consider it to be less because every penny counts.
Learn to invest!
The last important step. Yes, some may argue that you are too young to do this but boss you are not. Every single bit that you can do is going to help you in the future. Plus it will make you smarter about managing money in the future. It’s your call 🙂
Handling money is not very difficult if done right. Just keep your eyes and ears open and some bit of control on where you spend the money. It is totally doable!
Let us know in comments below how do you handle your pocket money.