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| Image Credit: Tony’sthoughts |
MANAGING YOUR FUNDS AS A NIGERIAN STUDENT.
Optimizing your finance as a Nigerian student can be pretty tasking as regards the economy of the country, however a student can still find a way of managing their resources.
Here are the six paramount ways to optimize your finance as a student in Nigeria;
1. Knowing your source is important, a reasonable percentage of Nigerian students do not come from financially buoyant homes, thereby are not given enough allowances as compared to the rich kids, as a student whose parents or guardian earn averagely shouldn’t spend unnecessarily. (adsbygoogle = window.adsbygoogle || []).push({}); Some rich kids also fall victim of this circumstances, some of them are terrible managers as such would squander any amount of money given to them before the time which the money is suppose to finish elapses. Having an awareness of your income stream would help you optimize your finance as a Nigerian student.
2. Budget will help a long way in managing a student’s finance, know the amount that is coming in and cut down unnecessary spendings.
3. It would be wise for a student to buy their provisions in bulk so as to avoid the cost of buying in bits. There’s always a discount when buying provisions in bulk in the local markets or grocery stores as such saving a little amount of money which can be used for something else.
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4. Students who find it difficult or lazy to cook will spend more compared to those students that cook their own food. Cooking your own food will help as a student to reduce cost of buying. Students who are not skilled in the kitchen area see cooking as tasking and time consuming for them, to save time and energy they resolve to buying from eateries or resturants which is quite expensive for an average Nigerian student. (adsbygoogle = window.adsbygoogle || []).push({}); In order to save money those students should learn kitchen skills and time management.
5. Bad habits such as smoking and drinking lead some students into debts, these habits can be quite addictive. When a student runs out of money to satisfy their addiction, they resolve to borrowing from other students who in turn would want their money back as soon as possible, when these habitual smokers pay up their debts they are left with little or nothing and thereby left with no other option than to borrow again and the cycle continues. When those habits are curtailed, it will save money to be used for something important, but since these habits are quite addictive and hard to stop without proper rehabilitation, it would be easier to avoid doing it completely.
6. Getting a part-time job as a student can be time and energy consuming but helps greatly in managing and saving your funds as a Nigerian student.
Conclusion
Nigerian Students must be able to learn to be contented and manage whatever is given to them in order to actualize an accountable financial life. Living within your income circle is one of the key ways to optimize your finance as a student.
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