TIPS TO SAVE YOUR MONEY

If you are a college student, cashlessness is a perpetual state of existence. Short on funds and craving for pleasurable pursuits, you have two options. Resign to your impoverished status, or go through the 20 pointers we have compiled for you. These will not only help you save and manage your money better, but also tell you how to make some on your own. Go on, read them-and have 20 times more fun.

• Make A Monthly Budget: This doesn't have to be a complicated number-crunching exercise. A simple Excel sheet or the planner in your mobile will suffice. The idea is to keep track of your monthly expenses and plug any unnecessary spending. Start by listing your fixed expenditure like transportation cost, food, etc, and keep aside money for these. The balance can then be used for discretionary expenses like shopping, gifting or partying.
• Avoid Debt: If you have to swipe, use a debit card. "Unlike credit cards, there is no interest or late-payment charge in the case of a debit card, so there is no danger of stacking up a debt. It will also help instill financial discipline if you spend only what you have," says Sarin.
• Prepay Mobile Expenses: Choose a prepaid plan to avoid ugly surprises at the end of each month. You can also customise to make the plan cheaper. So if your calls don't last more than a few seconds, get a pay-per-second plan, or if you are an SMS addict, add a message card to make them free.
• Use Free ATMs: After the first five transactions in a month, you are charged Rs 20 per cash withdrawal if you are operating an ATM outside your bank's network. So, regular withdrawals from ATMs outside the surcharge-free network can be expensive. Avoid them.
• Inexpensive Entertainment: The city's community centres offer several quality entertainment options which are also extremely inexpensive. You can opt for musical performances, film festivals, art exhibits, theatre productions, dance recitals, sporting events and much more. Check out the local newspapers to keep track of such events.
• Part-Time Positions: Get a part-time job to supplement your pocket money. There are various profiles, such as content writers, BPO executives, transcriptionists, to choose from. You could also opt for unusual roles like a city tour guide or recruitment agent. Then there are the home-based online jobs, but you need to be careful before applying as many are scams. Job search sites like searchmycapus.com and firstnaukri.com, which are specifically designed for college students, can be helpful. You can also seek advice from your college placement cell.