How to Budget and Save Money (Student Edition)

If I am a student who has Php 120.00 daily, how I will budget my money if I have to expend for my jeepney fare, my lunch and my snacks at school? Also, how did I save money? Well, you are on the right site! For this blog, I will gonna tackle about how I personally save and budget my money as a student.

We will first gonna talk about how to budget. As a student, having a Php 120.00 daily with your daily expenses are a bit challenging if you want to budget your money but I have a budgeting method/plan that I use that is perfect for my limited amount of money:

Because I am a college student, it is hard for me to save money because my allowance is just enough for a week. I don’t have a part time job, so I’ll just get my allowance to my Dad. He didn’t give me the whole allowance, instead, he gave me my daily money which is Php 120.00. So I have Php 600.00 a week and Php 2,400.00 a month. For my daily money, I spend Php 40.00 for my jeepney fare balikan na yun. I still have the remaining Php 80.00 and on that remaining money, I need to buy my lunch that cost Php 50.00 so I have Php 30.00 for my other needs like snacks, etc.

From January to April, I have not tried to spend at least ten pesos from my money and put it on my savings and it will also happen for the following months. Don’t take a money from your savings except, if you really need money because some emergency happens BUT, you need to have a limit. For example, if an emergency happens, you will just get a specific amount from your savings. Maybe, you will withdraw a half of amount on what you really need. For the other half, you can ask for your parents for the financial support and when you have an extra money, you need to restore the amount you withdraw.

I already said that I didn't have a part time job that can add to my savings, so my savings a year is not that big but it is fine. You are just a student and eating daily is more important than to have a higher saving.

That’s the tip that I will share with you on how I budget and save my money, but I want also to add some tips on how to save money.

Saving money is a bit tricky especially if you are a student and the person who loves to spend that even if you really don’t need that, you are still buying it so I’ll give you some other tips on how to save money as a student.

I have 5 tips on how to save money as a student:

1. Walk whenever possible.

- Walking is a great exercise especially if you are near to where you were going, it is better than riding a jeep that costs Php 7.00 to Php 12.00.

2. Bring bottled water in school.

- Because being dehydrated is important in every human being, bring your own water bottle to your school and it is much cheaper to refill water in your school than to buy your own water bottle in school.

3. Study at the park or library.

- Studying ing Milktea Shops or Coffee Shop seems to be cool but staying there for a long time and buying some of there products can get really expensive. If you really want to save money, or you don’t have enough money, try to study on park or library if you really need to study outside of your house.

4. Learn to say, “No” sometimes to the invitation of your friends.

- If you don’t really have money, learn to say, “no” sometimes to the invitations of your friends, whenever you will be going out on a date wit your friends. Don’t always say yes to the treat of your friends and it is good to teach them how to save money too so you have #squadgoals

5. Explore different places that is free like parks or sight seeing views.

- Being student is hard especially if you always study. You also need time to get rest and to treat yourself. Treating yourself might be expensive and that’s fine but sometime you can also go to places where resting is free like on parks etc.