How I save money as a student

Many students find it hard to save money because of too many reasons, they tend to think that it is too early for them to save and most of them are still dependent on their parents or guardians. But hey there fellow students, start saving now!

I started saving money at a very young age since my parents did not spoil me even my childhood life and the reason why I always look at things in a practical way. They taught me how to be independent and how to earn money, they made me realize how hard it is and how to work hard for the things that we want. Let me share some of my experiences.

• Selling Vegetables in the neighborhood

My parents love planting fruits and vegetables such as mango, jackfruit, tomatoes, papaya, string beans,chili, cassava, squash, and many more. Every morning they will harvest it and repack after that they will ask me and some of my siblings to sell the vegetables. We don't have the right to say no and we should obey them so we can go to school everyday. Cute children is a good marketing strategy, right? I remember selling during my elementary days. My mother will reward us with 20% of our income for the hard work and I will save it for emergency purposes. In emergency, I mean candies.

• Going to farm

My father owned a hectare of land before and it is intended for rice crop production they made me realize how hard it is to make a living. My father is the one who is in charge so all of my brothers experience taking care of our farm from planting to harvesting rice. I experienced "pagpag", "sangang buko" during that time together with my family so we can save money to buy a new set of toys and clothes. If we want something, we need to work hard for it.

• Being a part-time student

It started when I reached the age of 15. This is the time that they told me I have to stop studying because they cannot afford it anymore. I understand it because I have 9 siblings and we are all studying so it will be too hard for them. Our situation when it comes to being financially stable is very hard back then due to a lack of family planning, my father sold the land that we have in order for us to keep on studying but it was not enough and I have to work to pursue what I want. During weekends, holidays, after schooling, during the semestral break, I will work and save money to pay my expenses, and the moment I started to work, I never ask my parents for money anymore until now that I am a third-year college student.

• Applying for scholarships

As a student who needs financial assistance, I have to apply for scholarships programs. I tried the DOST scholarship and I failed haha I tried again and failed but I have to find a way without asking my parents and maybe God heard my prayers and boom! I met my Psychology Professor, she heard my not-so-dramatic story and I found out that she belongs to the department of OSA (office of student affairs) she asked me to apply for a scholarship and pass all the requirements needed asap. After hearing about the opportunity, I share it with my friends so they can apply too, and luckily I got in! That scholarship program helps me to save more because as long as my grades are good enough I will receive 15,000 pesos ($300) every semester and this makes me happy because I will not be here to where I am right now without all those hardships I experienced.

• Buying thrift clothes

Instead of buying new clothes at the mall, I always find it satisfying to find some gem in the thrift store, in that way, I can save more money for my future plans.

• Look for side hustles

Except for my part-time job and scholarship, my sideline is this! doing my hobby, blogging it on read.cash, noise.cash trading cryptocurrency and with the help of all these side hustles, I manage to buy a printer, laptop, and a phone even groceries for my family. And yeah, I can totally say that I've earned and saved huge enough for a year of grinding and hustling here. This platform made me improve a lot of things in me and I will be forever grateful.

Tips to save money

Saving money is not just about putting it in your piggy bank, it is also about managing your finances and letting them grow.

• Know the purpose of saving your money and why.

• Set a realistic goal.

• Manage your daily expenses.

• Avoid borrowing money as long as you can.

• Invest and try to be a business-minded

• Be practical and spend your money wisely.

As a certified independent student, in order for me to save money, I have to spend it wisely. There are times that I am listing all my assets, expenses, accounts payable and accounts receivable to track the records. In my crypto assets, I have a manual ledger diversifying my portfolio like I'm making my own version of the balance sheet and income statement xd. You have to differentiate between the things you need and the things that you want to be practical in life (yes, I am talking to you, did you "add to cart" some items today?)

We have here student hustlers that I know including @laurenceuuu @Eirolfeam2 @angel_183 @kingofreviw @WanderingMedStudent @khairro @ZehraSky @CrazyrichFilipina @imanagrcltrst @immaryandmerry @DennMarc @Codename_Chikakiku salute to all of my crypto classmates here!

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Author's Note:

Article #132 (April 27, 2022)

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