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Tips on learning how to save money

Posted: November 29 2022

Vicky Lee, Occupational Therapy

University life with a wide range of socials is definitely amazing, however it costs students an arm and a leg sometimes. Here are some tips for saving money!

Setting Saving Goals

It is not uncommon to hear among classmates that we have no idea on how much we should spend and save per week or per month. Setting a saving target along with a timeline after calculating the expenditure would make it easier to save.

Creating a Designated Savings Account

Separating the money we spend on daily necessities from the money we intend to save enables us to save money faster. Setting up a designated bank savings account, we minimise the risk of dipping into our saving funds to cover daily expenditure.

Setting a Spending Limit on your Card

To save money faster, setting a limit on how much we can spend on our debit or credit cards would be a nice step. This does not only stop us from overspending, but also encourages us to reassess our daily expenses earlier. A multitude of banks can set limits on your cards.

Packing your Lunch

Bringing our own lunch would be one of the crucial money-saving tips. As we have lunch every day, small numbers accumulate over time to make a great sum. It may be a difficult start to bring our own lunch every day, let’s go with it once or twice a week first!