ABS-CBNnews.com Posted at 11/26/2013 5:38 PM |
Updated as of 11/26/2013 5:38 PM MANILA,
Philippines – Students spend a bulk of their allowance on mobile phone load, food and transportation, but a financial adviser said there are a number of smart ways to maximize their daily allowance.
On ANC’s “On The Money,” Salve Duplito said maximizing a daily allowance takes effort and discipline, and may require small changes in your daily routine.
To avoid spending much on prepaid load, for instance, Duplito advised sending emails or using the landline instead of sending text messages when you are at home.
“If you have Wi-Fi at home, email instead of sending text messages. Use the landline, don’t let your fingers spend all your money. Small expenses bunch up to big nightmares over time, spend more time talking to your friends face to face rather than on the phone,” she said.
Messaging apps that allow free text and calls are also useful when trying to cut down on expenses.
For food, Duplito suggested bringing cooked food instead of buying meals. She said even Makati yuppies have adopted this practice to save on their daily spending.
Commuting to school also costs time and money to students, and Duplito suggests that time management and planning play important roles for more efficient travel.
“Wake up early and plan well so that you have plenty of time to take public transportation,” she said.
Duplito said there are two ways to make a big impact on finances: increasing income or reducing expenses. “If you want to maximize your allowance, you have to do both,” Duplito suggested.
She recommended tracking down weekly expenses on a notebook to monitor the items bought, cost per item, and time it was purchased.
“At the end of the week, your notebook should tell you exactly how much you are spending and on what, and what time you are most vulnerable to frivolous expenses,” she said.
http://www.abs-cbnnews.com/business/11/26/13/how-students-can-maximize-their-daily-allowance
0 comments :
Post a Comment