Most students, have a very general sense of how they spend their money. 4 in every 5 student, constantly worry about money which adversely affects their studies as well as their diet. Also, 1 in every 3 have never budgeted their expenses. With more and more students struggling to manage their expenses, it is important to note that they frequently turn to their parents and their friends in case of any emergency. It has been seen that most of the time these situations are developed because of the one-time expenditure of their pocket money which is provided every month. What if I ask you to part that one-time payment on a monthly basis? What if I ask you to choose partial payments on various products, especially designed for college students? Excited? I’ll definitely share it with you, but first let’s concentrate on where you spend exactly.
Housing is the most expensive thing about moving away to college. It’s not only about the place to live but this includes everything. Starting from paying house rent to paying bills, it cost about 70% of the total month’s expenditure. Especially, if you lie outside your college you may need to budget your expenses effectively.
Smartphones have become an integral part of a student’s life. It is more of a fashion statement rather than a useful gadget. Students, generally end up wasting their life savings in buying a smartphone, and in many cases, they are not able to buy a smartphone of their choice and at the end of the day, they have to satisfy themselves. Why not pay for it on a monthly basis?
India is digitalising, and so is education. All those ppts, docs, and printouts have become a daily engagement for a college student. Almost every student owns a laptop today. This is necessary but a huge amount of money is spent at a single moment. Why spend a lot of money at one time, rather than paying it in bits? Surprised, check it out here.
Apparels and Accessories
“Fashion is the armour to survive the reality of everyday life.” Being a college student, fashion is something that can’t be avoided. It is seen that fashion consciousness among college students has increased dramatically over the last ten years. In India, a student, on an average, spend close to 10,000 to 50,000 per annum exclusively on clothing and accessories.
Textbooks and Stationaries
School supplies are something that can’t be avoided as it is very necessary for you to advance in your semesters. Many of the streams require high-end tools to be worked on, which are really expensive. It has been noted that these supplies (including textbooks, stationaries, Xeroxes, calculators, etc.) can cost up to 10k to 30k per annum. You can get your books on monthly plans as well, instead of paying at one shot.
Electronic accessories are something that is always cool to have. Mind-boggling deals are always present on electronic accessories to attract the students. However, these deals demand a one-time payment of a lot of money which can sometimes be unaffordable if you want to spend from your pocket. Try having these on monthly payment basis.
Fuel / Gas
Lot of traffic and so many places to explore. You can’t say no to yourself when it comes to driving your personal vehicle. Rising prices of fuel has earned it a position in the list of annual expenses of a college student. Students may spend up to 20,000 Rs. on fuel alone.
Sure, there’s absolutely nothing wrong with going Greek. Socialising is fun and gives an awesome experience. Nowadays, special parties are thrown for college students, including many of your fresher year parties. Though there are not many students who go social every weekend, but on an average it cost around 5,000-50,000 Rs. per annum, depending on the frequency of the events you attend.
It is seen that most of the food stalls are found nearby a college. If you will talk to any of those stall owners, they will say that most of their customers are college students. Even though you’re not a foodie, you may end up having a samosa or chat or a juice in front of your college. It is not because you want to eat, rather it is a way of socialising during the college hours.
Travel and Trips
Trips are one of those beautiful and amazing memories that you will remember throughout your life. These are those ecstatic moments that make you smile the moment you remember any incident from the trip. Most college students like travelling and exploring places. It is also one of the areas where students are seen spending their money. Including your travel expense, it costs close to 2,000 to 30,000 bucks depending on how far you live and how frequently you go on trips.
— Post by Shekhar Anand, Content-Writer, SlicePay