News broke from the University of Nigeria Nsukka that a final year Agricultural Economics student committed suicide. According to his friend Nwachukwu Daniel Ikechukwu,who posted the photo on Facebook today, the young man allegedly killed himself over debt. However, a number of his friends don’t believe he killed himself over money.
There is no doubt that studying in University could be quite exhausting. Between paying for books, as well as hanging out with friends, it could get expensive.
It is an amazing idea to learn how to budget your money before you get to school so you don’t end up in debt or short at the end of each month when it comes time to pay your bills.
Here are a few tips to help you budget your money while in school.
Write down your expenses
Budgeting is the ke to saving money. Write down everything you need and budget a total amount on everything. Include a bit of extra things like clothes, mall trips and hanging out. When you sort everything out, it’s easier to figure out how much extra you will have to spend.
Buy and cook your own food
Buy your foodstuff and cook your own meals. Not only is it healthier, it costs less too. If you live in the hostel and one way or the other, you’re unable to cook, visit the cafeteria. Food is cheaper there compared to fast food joints.
Get used textbooks and course materials.
Textbooks and course materials are a huge part of school expenses. Check around your school for book stores which have used books. You can purchase them instead of buying new ones. Also, you can get friends who are a year ahead of you who can give you their books to use after they are dome with it. Look online as well, many websites offer a great deal on PDF files.
Try getting a part time job
A basic staple in preventing debt accumulation is maintaining a form of employment. This won’t keep you vulnerable to financial struggling.
Learn a skill
The importance of learning a skill can never be over emphasised. Basic skills like hairdressing, make up artistry, tailoring etc can help you gain financial freedom. During holidays and weekends, enrol in any basic skill acquisition class of your choice.