DON’T SPEND WHAT YOU DON’T HAVE, DEBIT CARD IS THE WAY
Your parents have invested in their future and yours by sending you to study in the USA, and it is your duty to make good on this commitment by graduating and not falling victim to debt. This can be achieved by making simple changes in your life and smart choices on all your purchases and not falling prey to the temptation of living in the commercial capital of the world, AND the number one, biggest, spender in the world.
Save your money
Everyone loves the feeling of euphoria they feel when they find a twenty- dollar- bill note in a pocket of a pair of jeans. I strongly recommend that you hide some of your cash in places that you “visit” less often like the inside pocket of your winter coat or stash some away in the corner of a drawer in your desk. Save half of your money in your bank account and only spend half of it. If you stick to this simple plan you will begin to save a little cash each time, and learn to spend less and less money every month. It sounds like a silly plan now, but once it becomes a habit and the norm you begin to see your “available” bank balance grow exponentially each month. When the balance in your bank account is $270 round it down, coach yourself to THINK that you only have $200 so that you spend the minimum amount possible.
DON’T go the mall if you don’t want to spend your money
Tempting yourself, by going to the mall when you don’t want to buy anything IS NOT fair to your parents or yourself. You are bound to fail and end up buying something on impulse. If you do buy something you will feel guilty and cry over your own spilt milk. If you learn to shop when you have a goal in mind this good habit will teach you to build up resistance to impulse shopping. Writing lists helps you stay on track, identify your wants from your needs and this will put you in the habit of shopping smart. Each additional purchase you make should be followed by you getting rid of something that you don’t need. You should shop for quality and not quantity.
These tips can help you learn to spend more wisely. If you spend within your means you will discover new ways of maximizing the use of all your belongings. Like they say in economics the consumer’s goal is to maximize utility because LESS IS MORE. Living a minimalism lifestyle is healthy for the mind because your mind is less distracted. Having a clutter free environment induces your mind to remain clutter free too. Learning to manage healthy spending enables you to trust yourself to handle greater success in the future. It also has the added benefit of avoiding or reducing your chances or running into debt. I tried these tips myself, I have not always succeeded in following my plan, but it is DEFINITELY getting easier!