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6 Crucial Money Management Tips For College Students

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Student life is the only time when you learn not just in the classroom but outside as well especially when you become a part of India’s best college or university where you get to meet students from all across the nation and abroad. Meeting the students and living a student life throws many challenges as well. The biggest challenge faced by today’s students is that how to manage the resources while enjoying the student life.

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Money has always been a crunch for the students because many of the students also enroll for extra classes for preparation of MBA and other additional courses which require them to pay extra fee or commute from one place to another. Here, we share with you 6 doable tips to save money and manage your financial resources while being a student –

Avoid eating outside

If you are a hostler, it is always better to eat your meals in the mess because that is included in your hostel fee. Eating out increases your weekly expenditure and lands you in financial crunch.

Share your books and learning resources

The best way to live student life is to share yours books and resources with your friends, hostel group or classmates. Students don’t need to buy all the books on their own; they can always borrow books from the college or university library or pool in money to buy costly books in a group. Do you know MMDU Library has an extensive collection of not just course books but research publications and audio visual aids as well!

Commute by public transportation

Going to market or other places by taxi would mean squandering money for nothing; so use public transportation. This would greatly help the students studying in metro cities.

A part-time job would always help if you are keen to earn extra money

You can always join some work as a private tutor or in some companies that prefer having young freshers on board.

Avoid over expenditure on entertainment and travelling

Even if the student life is meant to be enjoyed at its very best, over indulgence in fun and frolic would be counted as a bad money management practice.

Avoid joining multiple tuitions

If you spend time in your classroom and pay attention to what your college teacher is teaching you, you will not need tuitions and that you can save all the money you have to pay for your private tuitions.

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Moreover, universities like MMDU also offer scholarships to students who are in need of financial support.

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