Question

What are some penny pinching tips that students can utilize to maximize their efforts to budget and manage their money. What are some hints to help get to a better financial position?

Answer 1

Ans) Following are some penny pinching tips that students can utilize to maximize their efforts to budget and manage their money

1. Think twice before you buy – always think do I really need this.
2. Handle with care - The three Rs (reduce, reuse and recycle) don’t just apply to protecting the environment. Apply in all money matter situation
3. Get creative in the kitchen - Buying ready-made food and drinks from restaurants, take-out joints or cafés is much less cost effective than making your own meals at home.
4. Write it down - Keep a simple tally of the money you spend each day in a notebook or on your phone. By writing down every purchase you make – big or small – you’ll become more conscious of your spending habits.