How To Never Run Out Of Money on Campus

Do you know anyone living on campus that has never run out of money?

This set of people is very difficult to find and is enough reason to believe that students need to be more astute in managing money.


Money is one of the indispensable commodity that ensures your survival in school. That is why a student who has the poor managerial skill of handling money will always find himself bankrupt and always taking loans from other students or even selling off some items.

Hence, for a student to survive, he needs some tips to help him manage money. This post has the best six tips to ensure that you never run out of money on campus.

TIP 1
Be a Prudent Spender

Being a prudent spender means being discreet, careful and sensible in spending money.

It all comes down to not expecting extreme comfortability in school because the school isn't your abode.

A closer look will reveal that you do not really need some of the things you want to get now or already have in your possession.

Economics refers to our wants as "insatiable".

So, just in case you do not want to wallow in bankruptcy (no one wants that), you need to be prudent when you have cash on your hands

Always make a scale of preference and adopt opportunity costs before spending.

For instance, there are certain textbooks you can do without. There are certain household luxuries you can do without and also gadgets you can efficiently live without.

When you focus on spending on extremely crucial things, it becomes difficult to run out of money on campus.

TIP 2
Cultivate The Habit of Savings

It's always advisable to put something away for the rainy day by cultivating the virtue of saving.

Tiny raindrops make an ocean and saving a fraction of what you get from your parents or your mini-job can help you live comfortably in school.

Use a nearby bank or personal thrift for this purpose and you'll be amazed at how much you're able to save up at the end of the semester.

Do not let the luxurious lifestyle of others seduce you to spend insensibly. Even a billionaire who doesn't save will eventually find himself poor again.

TIP 3
Keep A Simple Eye

You need to learn how to avoid incurring expenses on things that you can not really afford.

Let's say you need a portable laptop to use for school projects and can get one that fills your need for ₦30000 and another with even more features that you may not really need for ₦50000. Now your budget for a PC is ₦40000. Which would you settle for?

You can save ₦10000 and still get what you want by keeping your eye simple but can land yourself in debt by trying to go for the flashy PC.

If you're fond of engaging on white elephant task, then you easily become a borrows maniac.

Instead of robbing Peter to pay Paul (the downline of borrowing), you can be self-content as it saves you heartache.

Live your limits and avoid flaunting yourself as a big spender. Exorbitant expenses render you penniless, in the long run.

TIP 4
Avoid Extravagant Friends

Your friends' behavior (including spending habit) has a way of rubbing off on you.

Admittedly, students are wholly influenced by their peers. So when your closest friend is a type that spends injudiciously, you will surely become a spendthrift, because they would expect you to be reciprocal. You don't want to displease them.

The ugly truth is that these ones will abandon you when you are broke. They will you to make yourself a big person but remember you are in school. Be wise.

TIP 5
Practice Bulk Purchasing

You end up saving a lot of money for your other needs when you buy food items, stationary or other home used items in larger quantities.

Purchasing such item in bits will leave your pocket dry at some point and you may not have the money right away to buy what you want.

Try this

Just before you go back to school for a new term or semester, buy in bulk, every item that you need. You'll notice that it may seem to cost a lot, but you'll never need to buy them again when you get back to school.
You can now spend your pocket money on other things that you wish to, including emergencies.

TIP 6
Embrace Profit Yielding Investment Opportunities

There are certain yielding investments a student can make while in school which can never be an impediment to their school activities. A student who really wants his pocket to avoid running dry should put money into well-vetted investment machinery.

Investing in the stock exchange market is a typical example.

Rounding Up

To survive on campus, you really need to master the art of money management.

Working with the aforementioned strategies make this easier and in little or no time, you will really find out that you have just enough to live on.