I know you must be wondering how in the world will it be possible to save your meagre allawee! Don’t worry, this piece will help you achieve this and more. By way of introduction, I want to make you understand that money management is more important than money itself! This means that, even if your allowance is increased to 100k, if you cannot manage your money effectively, you will end up asking for an increase again. See your allowance as a big money even if it is chicken change to you, assume it’s a huge sum and spend wisely because this money can earn you good fortune.

Here are the ways to you can save your allowance and live financially free throughout your service year:

1. Set a saving goal: Set a target on the amount you want to save monthly from your allowance. It could be 5,000, 8,000 or 10,000. Do the calculation yourself and see how much you’ll earn during your service year.
You can even save beyond 10000 if you are posted to a village where the cost of living is minimal.

2. Understand the different between want and need: that you want something does not mean you need it at the time. After receiving the first allowance some corpers will fund irrelevant things like expensive (more than half of their allowance) phone, shoes, iPhone out of the allowance. There is nothing wrong with this but before going for these these things, Think! (Will this stuff be an asset or liability) if it will serve as an asset, good! Go for it. If otherwise ignore it and discipline yourself.
It is a known fact that as you grow older your toy becomes expensive but you need to be careful and make good use of your scale of preference.

3. Control your eating habit: don’t eat anyhow, eating from a canteen where a plate of food is say 200 and you don’t cook, you will eat all your allowance there. If l assume you eat twice in a day that is 400 per day for a month you have spent 12000 on feeding alone. You are left with 7800 and there are other needs. So buy food stuffs, stove, pot etc with your first or your next allowance. If you don’t know how to cook, that is not a crime, meet your mates and they’ll put you through and you’ll see it as an opportunity to learn.

Continue reading here: https://corpa.ng/10-keys-to-saving-your-nysc-allowance/

Good initiative, but what of when one has attained an appreciable standard of living that doesn't align with the monthly pay? "

Gerrard59:
Good initiative, but what of when one has attained an appreciable standard of living that doesn't align with the monthly pay? "

Increase your earning ability then

Great article Corpa.. Your platform has really been of great help to me

Wreckless spenders be like

tosyne2much:
Wreckless spenders be like

Lol