Managing Your Money

Learning how to look after your own finances is a hugely important task, especially for those who lives on their own. Although we are still students and in most cases we are dependable on our parents who may subsidize us and bail us out, it’s necessary to state that we have to learn how to keep track of our outgoings, in other words how to budget.

Once we learn how to calculate our spendings and be ready to economize or even to tighten our belts if needed, we would be able not only to mount up our disposable income, but also to keep ourselves from having overdrafts and budget deficit.

From my part, in future I would try to spend my money responsibly and reasonably. It might be an idea to plan my spendings beforehand and to substract the expenses from the income. Having a surplus, I would try not to squander large sums of money or splash out on luxury, it would be better to put them into my savings account - a continency fund  wouldn’t hurt. A few words about a current account: I suppose that keeping an account in credit all the time rather than withdrawing is more sensible. What is more, it’s a good thing to check the transactions in my bank statement.

All in all, I share the opinion -  “Take care of the pennies and the pounds will take care of themselves”, in our words, I prefer to be a thrifty person, not an extravagant spendthrift.