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How to save money as a Student at University in 2021.
[THREAD]
[THREAD]
1. BUDGET:
budgeting is hard, but when you receive money you have to make a structure of how much are you going to spend on food, clothes and how much money are you going to save.
NB!!: keep track of your expenses!
budgeting is hard, but when you receive money you have to make a structure of how much are you going to spend on food, clothes and how much money are you going to save.
NB!!: keep track of your expenses!
2. CHOOSE A GOOD BANK:
banks can make or break you when you want to save your money, like high back charges.
Tips to look out for before opening a bank: How much do they charge for swiping, depositing and how much interest will you get if you save with them.
banks can make or break you when you want to save your money, like high back charges.
Tips to look out for before opening a bank: How much do they charge for swiping, depositing and how much interest will you get if you save with them.
Banks I suggest:
1. @tymebankza
2. @CapitecBankSA
3. @AbsaSouthAfrica (student acc)
4. @AfricanBank (good interest)
5. @FNBSA
NB
: Make sure your bank charges are less than R50 or R100
1. @tymebankza
2. @CapitecBankSA
3. @AbsaSouthAfrica (student acc)
4. @AfricanBank (good interest)
5. @FNBSA
NB
: Make sure your bank charges are less than R50 or R100
3. SAVE 20% OF YOUR INCOME:
When your bursary or NSFAS give you money, try to save at least 20% of the money, let’s say you get R1500 by saving at least 20% which R300 from February until November you would have saved R3300.
NB: HAVE AN EMERGENCY FUND ACCOUNT!
When your bursary or NSFAS give you money, try to save at least 20% of the money, let’s say you get R1500 by saving at least 20% which R300 from February until November you would have saved R3300.
NB
: HAVE AN EMERGENCY FUND ACCOUNT!
4.DECIDE WHAT YOU ARE SAVING FOR:
Are you saving for Long Term or Short Term?
Short Term- have an emergency account where you put money aside for your each an every month.
Long Term-there is a platform called @Incentiv_8 which lets you save money from your 1st yr till final year
Are you saving for Long Term or Short Term?
Short Term- have an emergency account where you put money aside for your each an every month.
Long Term-there is a platform called @Incentiv_8 which lets you save money from your 1st yr till final year
And you can also invest money using a platform @EasyEquities and can buy share from your favourite companies like Apple,Microsoft etc
5. Buy second-hand textbooks:
Book are very expensive so make sure before you buy a new book ask around and also ask people who are or were doing the same subjects as you and be sure to go to your campus library and ask whether the books are available, also google is your friend.
Book are very expensive so make sure before you buy a new book ask around and also ask people who are or were doing the same subjects as you and be sure to go to your campus library and ask whether the books are available, also google is your friend.
Get a side hustle:
For you to save money you must have money, so make sure you get a side hustle it maybe selling things online, being a tutor, a YouTuber even an influencer, look for what you like.
NB: balance your money and academics don’t neglect that!
For you to save money you must have money, so make sure you get a side hustle it maybe selling things online, being a tutor, a YouTuber even an influencer, look for what you like.
NB
: balance your money and academics don’t neglect that!
6. Take advantage of being a student:
There is nothing fun than being a student because you get a lot of discounts from food, clothes and electronics so make sure to lookout for student discounts, very helpful when you want to save money.
There is nothing fun than being a student because you get a lot of discounts from food, clothes and electronics so make sure to lookout for student discounts, very helpful when you want to save money.
7. Cancel Unnecessary subscriptions:
Don’t be peer pressured into creating Netflix, Spotify, YouTube accounts, especially if you want to save money cancel them because there are a lot of site where you can get movies, series and music for free
Dm me for the plug
Don’t be peer pressured into creating Netflix, Spotify, YouTube accounts, especially if you want to save money cancel them because there are a lot of site where you can get movies, series and music for free
Dm me for the plug
8. BUY WHAT TOU NEED FIRST:
You have to make important decisions whether do you want to buy food first or clothes, because you are now on your own so you have to mange your finances like a grown up.
You have to make important decisions whether do you want to buy food first or clothes, because you are now on your own so you have to mange your finances like a grown up.
9. Lay-buy:
Guys if you don’t have money to buy that snicker you want now, just lay-buy it, never be embarrassed about that, you can pay off that when you have money or you could pay by instalments for a period of 2-3 months that could actually save you a lot of money
Guys if you don’t have money to buy that snicker you want now, just lay-buy it, never be embarrassed about that, you can pay off that when you have money or you could pay by instalments for a period of 2-3 months that could actually save you a lot of money
10 ENJOY EVERY MOMENT:
you worked hard to be where you are now, so enjoy it while it lasts
you worked hard to be where you are now, so enjoy it while it lasts
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