How to manage your pocket money to ensure it sees you through to the end of term.

  

Date Posted: 10/20/2012 2:00:48 PM

Posted By: Razen  Membership Level: Gold  Total Points: 3454

---

How to manage your pocket money throughout the term.

Probably you don't have a financially stable background. Your parents toil so hard to raise your fees. Before you go back to school, you demand for some pocket money. Your parents manage to raise kes. 200 and arrogantly, not knowing the problems they go through, decide not to take the money. 'What can I buy with only kes. 200?' You ask. Students you are! The parents decide to borrow some 300 kes. More to add up to the cash. Sadly you take it and set of to school.

Whether from a rich or a poor background, you need to carefully plan on how to spend the money, in order to ensure you get some cakes for breakfast during the last few weeks before the mid term/end term break.

Below, I shall discuss with you the 5 emerald tips that will help you manage your pocket money. Don't worry if you get so little, don't be happy either if you get more than enough. Money management is applicable to both rich and poor. Welcome!

1. Never do impulse buying.
Students who don't plan on what to buy end up buying so much. Sometimes they even buy irrelevant items. They end up not even sparing some fair back home. The first and foremost step is avoiding impulse buying.
To do this, before leaving the house for shopping, make a shopping list depending on the money provided. Planning ahead will help you know how much toothpaste, sugar, tissue papers, etc you will use in 45 days before someone visits to provide more. This way you will spare some money to pocket to school.

2. Check out for back to school promotions and offers.
Many big shops and supermarkets lower their item prices in order to attract students. Doing your shopping in such

places will spare you some money. Recently, wezesha project paid kes. 9,000 for students who purchased laptops.
Nakumatt, uchumi and ukwala supermarkets provide back to school offers to students. You will find out that they attach a bar of soap to 1 kg washing powder sachets. Recently buying a geisha bathing soap comes with a free rexona deodorant.

3. Do not purchase items you don't use while in school, either from students, subordinate staffs or even teachers/lecturers.
During my early schooling days, I used to buy items from broke students. Those items were being sold at a throw away price. Clothes, radios, phones, chains, shoes, etc. This was fine for me because whenever I exhausted my pocket money, my mother sent me some more. Be advised keep off such items. The little money you have should be used for backing up any item that runs out to facilitate learning. Unless you have more than enough, don't place bets or gamble your money with anyone.

4. Spend money wisely and economically.
Before taking 3 or 4 cakes every morning, calculate how much you have. Let's use kes 1,000 in this example.
Take for example, you have about 45 days before mid break. In order to manage to eat a cake daily, you have to divide the money left for cakes by the number of days, and by the price of each cake. So, if you set kes 600 for breakfast, you'll have to do it this way.

600. -money to spend
45. -days before mid break.
5. -the price of each cake.

So: 600/5 = 120 cakes
Then 120/45= 2.6 cakes per day.

In such a calculation, you should economically take 2 cakes every morning to spend kes 450. Throughout the 45 days.
With such simple calculations, you'll never lack some cakes for breakfast.

5. Always spare some back up money.
It's so sad to miss a trip to a special place because you cannot raise kes. 100, transport fee. Trips, emergency items (like drugs, pens, books, toothpaste), damages, etc should be well covered by the spare money you have. It's also bad to miss a vehicle home because the fares rocketed.

In conclusion, check out for thieves who misused their pocket money and desperately needs to lay their 'filthy' hands, sorry to say, on yours. If you have a lot of money, it's advisable to give some to the secretary for safe storage and retrieval.

In order to increase your pocket money, probably to those who found this article through search engines, kindly join this site and earn some. Only your wise opinion counts. Come earn with us.
Success in school is directly proportional to the comfort you get. Manage your money and your schooling will never be the same again. Thanks and welcome!

---

Next: Seeking asylum in Kenya.
Previous: How to answer national examination questions effectively