Tertiary institutions are places designated for learning varying subjects. However, many students go through school learning only what ‘Mr. Lecturer’ has provided in his handouts while disregarding any other knowledge regardless of how valuable it is.

Every student; no matter the course he or she majors in, should learn about ‘Money’. It is important if students wish to avoid financial struggles now and even after school.

Checkout these 5 tips, to get you started on the right track to avoiding financial struggles.

1. Always write a budget, and learn to stick to it.

You must have heard this plenty times and that’s because it is essential. Make sure you actually write down your budget, and prioritize everything. Trim out anything that is not needful starting from the bottom of your list.

2. Open a savings account.

Get a savings account and make up your mind to always save a specific amount every month or periodically. Imagine a student who starts saving a fraction of her pocket money from the beginning of her first year to the end of her final year. How much in your view will she have as a fresh graduate? Enough to start a business or go job hunting like a boss; don’t you think?

3. Avoid depth by all means.

Some of us will always rush to borrow money from friends as soon as we sense a little gab in our pockets.

I use to have a friend who owed virtually every guy in my class; he was borrowing money to buy shoes to look ‘fly’ and for taking ladies out for lunch. He spends most of his day hiding from or begging the guys he owes for mercy promising to pay someday –that guy still owes me 10k.

My point: Borrowing can turn you into a modern slave. Do away with burrowing as far as possible. Only borrow when it’s the only option and ensure to pay back ASAP.

4. Live within your means.

“No dey form JetLi”.

It baffles me when a student who gets 10k monthly pocket money, hustles (mostly by borrowing and ‘jobbing’ mom and dad) money to buy a phone worth 100k. Such attitude is outright stupidity unless that phone is able to make you more money.

Learn to keep your cost of living below how much money you actually get. Don’t go after the most expensive girl on campus. Don’t go to expensive eateries every day; cooking for yourself will save you cash.

Bottom line, if you spend within your means, you will have even more money to save in your savings account.

5. Invest in a business.

This should however be done with care. Take out time to find out investment opportunities that won’t adversely affect your schooling and put a part (not all) of your money to good use.

Keep these 5 money tips in mind every time you get an alert and you will look for me at your final year dinner just to say thanks.

Have any tip(s) you use that isn’t mentioned here already?

Source: see http://graduatewell.com/article/608ddc9322fc66d560e2fd43b7618e60 for details