2006-12-15 22:39:22 · 5 answers · asked by samantha jacqlynlsy 2 in Education & Reference ➔ Higher Education (University +)
1. Identify and cost those expenditures - rent, food, urgent travel, clothes, books and equipment etc. Calculate the total amount.
2. Identify income and resources and compare with the figure from the first calculation.
3. If income and resources cover essential expenditure then it is just a question of personal discipline - keep within the expenditure identified above. TO DO THIS - ALWAYS PAY CASH IF POSSIBLE. Where that is not practical use cash or debit card - NEVER A CREDIT CARD.
The basic principles are:
a. Be aware of ALL your obligations
b. Be aware of your resources
c. Be aware of your expenditure, and how it relates to your overall financial situation, at all spending opportunities.
d. DO NOT take on short-term debt - formal loans IF ABSOLUTELY UNAVOIDABLE ( can happen to finance college courses etc.) If taking out a loan make sure that you have factored repayments into your expenditure calculations.
In short, know where you are, and be very disciplined about spending. Retail therapy is right out.
2006-12-15 22:53:55 · answer #1 · answered by Tony B 6 · 0⤊ 0⤋
I love the loans that you can get that you do not have to payback tell 6 months after you graduate. Like the stafford loan.
2006-12-16 01:03:42 · answer #2 · answered by Matthew K 2 · 0⤊ 0⤋
Develop a budget and stick to it. There are several budget templates you can copy or download for free if you do a search on engines like aj.com, google.com or mamma.com.
2006-12-16 01:45:21 · answer #3 · answered by In God's Image 5 · 0⤊ 0⤋
to the best of my knowledge i give u this idea.
just compare every person like an ideal govt. then you can get the solution for Ur own question
2006-12-15 22:45:41 · answer #4 · answered by manju m 1 · 0⤊ 0⤋
write down all your spending on everything. subtract it from all your income. save what is left.
2006-12-15 22:50:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋