SAVE MONEY- 3 WAYS TO SAVE MONEY FOR STUDENTS..

LIFE of students is indeed difficult yet the way we spend these years decide our path for the future. These years of dependence on parents teach us lessons that mould us into people who we are going to be in the future. Most of us in our youth do not focus on saving money. Our energies and social commitments are high during these years. There is immense pressure on maintaining a certain standard of dressing and accessories so that one is well recognised in his/her peer group. This leads to financial stress and leaves no room for savings. Apart from this, the added cost of clubbing and partying in Tier 1 and Tier 2 cities drain resources in the name of enjoyment.

Clothing, accessories, latest tech are all craze when we are a student. To be really honest these things do define one's image. They make a person matter in a group. But all this recognition does not do any good. This false image and its maintenance robs away one's chances to have a strong hold on finances. When this habit remains, it manifests and can lead one to financial problems in the future with his/her hard earned money this time. 

For these following techniques of saving money to prove beneficial, one must first let go of all the above false notions and practises that in reality does no good. Once this is accomplished here are the ways you can start saving money and take steps for a financially independent future.

                1.SAVE FIRST, SPEND LATER..

This is more of a habit than a technique. As the words mean, one has to keep money aside first as a saving and then decide on the spending part. One has to inculcate this as a habit. Students have limited finances which they are very eager to spend. This step ensures that one remains in check by fixing a certain amount to be kept aside each month and carry on with all the remaining. This limits the chances of over spending. Once the money starts accumulating in the savings, this habit becomes sustainable. It's basic human nature. 

For doing this one can use the famous 50:30:20 rule. This rule states that 50 percent of the money should be used for needs. 30 percent for wants and the remaining 20 percent should be saved away. This technique is not only for students but also for adults who struggle with finances. This ensures that an individual learns to differentiate between needs and wants effectively.

It is also equally important that the saved money is not touched for wants generated during immediate burst of emotions. It is preferable that the money is tucked away in a good old and reliable savings account. It can also be invested so that one can not obtain access to it easily. But that I will discuss it later in a separate blog.

                              2. ROUNDING OFF.. 

This is a very beneficial habit. Although the amount seems to be very small but when it accumulates, it can be pretty amazing. According to this method one has to round off the money one has at the end of each day and save that rounding off amount. For example, if at the end of a day you have 126 rupees in your purse, then you have to round it off to 120 rupees and save the 6 rupees away. Thus you will have 6 rupees savings at the end of the day. This process needs to be repeated daily and at the end of the month this amount will grow into an inspiring sum.

Not only hard cash, this should also be done for amount in one's bank account. The cash can be kept away in a piggy bank where as the sum from the bank account can be transferred to the account designated for savings as mentioned in step number one. I have been using this method for years now and the result has been great. Almost every time I ended up saving away the amount accumulated through this method at the end of a month. This has taught me a great deal of self control which has helped me and my finances.

         3. CONSCIOUSNESS REWARDS TO ONESELF..

This is a pretty interesting technique. This helps one to decide between needs and wants. It also teaches a great deal of self consciousness. This technique can be best explained with an example. Suppose you went to a shopping mall just to wander about. But you fell in love with a dress and you immediately pick that up. Just before paying for the dress your consciousness kicks in. You realise that the dress isn't a need rather a want. You leave the dress and come back. As per this technique you need to be rewarded for your consciousness. Thus you save away the entire price of that dress in your savings account. You not buying the dress saved you money, you just give it the literal sense of savings.

This technique is really for the ones who have mastered the above two techniques. It requires a great deal of self control to achieve this feat. You need not save away the entire money if it feels like a torture. You can save half of the money and the remaining half you can use to treat yourself with something you like. This will boost yourself to carry this on in the future.



All of the techniques that I have talked about have been practised by me for more than 4 years now. One can mould the above techniques as per ones financial liabilities. But these moulding should not change the actual meaning of such techniques. Being true to one shelf is very important and it's advisable that one learns this trait early in life. A penny saved is definitely a penny earned. Jump start your journey towards financial wellbeing by following these steps.

Do comment and share some more of the practises that you follow for saving money..

 Here are some more important reads for you to dive in next..

https://archishmansardar.blogspot.com/2019/12/delayed-gratitude.html

https://archishmansardar.blogspot.com/2019/12/ideal-education.html

https://archishmansardar.blogspot.com/2019/12/let-actions-speak.html

https://archishmansardar.blogspot.com/2019/09/being-down-to-earth.html


   
  

MINIMALISM..

Almost all of us are maximalist. The term maximalist is nothing but a term describing our capitalist and gatherer mindset. The gatherer mindset is embedded into our human system. But it has been pushed beyond the satisfaction line due to the growing capitalist ideology. Capitalist ideology is the outcome of growing demands which empowered the market to take steps to meet the demands. These demands are no longer restricted to basic needs of existence rather it has gone much beyond that. This extra things that are excess to our basic needs are nothing but cutter that have influence on our minds and robs away our peace of mind not to forget the financial burden it puts on our daily lives.

The mindset that counteracts to the above is termed as minimalism. These are just terms. They can be called with different names but the thing that is important is the ideology which has the impact on our mindset. The minimalist mindset is one that helps an individual to satisfy himself/herself with the bare minimum. This guides us to do away with the things that are not used in our day to day lives. This ideology does not limit itself only to things, rather it is very broad including our thoughts and time. The thoughts that are in no way going to enrich us are done away with. This decluttering of thoughts gives back to us our valuable time which could be instead used to enrich our soul with healthy thoughts. Similarly minimalist ideology also tells us to limit wastage of time by doing things that are not that important. To explain this we can sight the example of our mobile phone addiction. This simple device robs us 6 to 7 hours of our day on an average. We spend hours mindlessly scrolling the newsfeed or getting entertained. If we limit this wastage of time we would have time left to do things that would actually bring us closer to our loved ones.

Minimalism is simply a way of living simply. When incorporated into our lives it can result into wonders. More time to do things we love. Better family relations. More time available to pursue our passion that can enrich our souls and make us truly happy. And above all it can save us a lot of money. Minimalist living helps us focus only on what's important in our lives. This helps us do away with the societal pressure to impress. It helps us to overcome the fear of other people's judgement of ourselves which actually neither happens nor should it matter to us in anyway. Thus we start avoiding the blind race for the new. The new fashion, the new gadget etc are all things that are not our needs rather our demands which are taught to us by the society. Minimalism is the filter that keeps all these unwanted stuff out of our lives for good.

A life free from clutter is a life full of happiness. Once you let the unwanted out, your vision becomes clear enough to focus only on the essentials. This clutter free living attracts opportunities, happiness into relationships and financial security for the years to come. The time and effort saved can be productively used in many ways that helps an individual to grow and flourish. Minimalist principle can vary as per ones needs. This versatility is what that makes it so popular. There are innumerable references and guides that can help one understand minimalism better and help to adopt it into ones life. The results are so attractive that once you start experiencing them, you long to take those further. This is a life that's fulfilling on its own. Give minimalism a try and I am sure you will never wanna leave it..