How to stay debt free as a student

[Austinaldo]

Being a student comes with its many challenges. You can never have enough money as a student to sustain you for the rest of your academic year. It is usually very difficult to spend wisely judging the excitement of being away from our parents and influence from friends. Here are some ways to stay free of debt while still schooling;

1. Choose your friends: as a student you must not associate with friends that can influence you into taking loans just to keep up with the Jones's. You must ensure that your friends are the best kinds and they do not make you want to buy fashionable things every time to keep up.

2. Name your money: yes you heard that right. You can divide your savings into various parts and give them a label/name. For example, if you keep a certain amount for foodstuffs, then write it down and call it money for foodstuffs. This way, you know that taking away such money for something else is you setting yourself up for danger. Generally, such named savings when spent is tantamount to stealing. Because come to think of it, when a politician takes Money budgeted for something else and spends it on another what do you call that? Yeah, you got that right.

3. Cut down your spending: instead of taking a cab why not consider using a bike or even trekking to your destination? Why not consider washing that clothes yourself instead of using a laundryman? Etc.

These are the three tips to stay debt free. You can add yours if you have any. Thanks

 

[Jasz]

Debt is one of the most stressful things that a person can have.

Many students graduate with too much debt. It's not always the student's fault, but it can be hard to manage.

Here are some tips on how to stay debt-free as a student:

* Only take out loans if you plan on paying them back.

* Make sure to do your research and make sure that you know what you're getting into before taking any loans.

* Make sure that your school offers financial aid for students who qualify. If so, apply for it!

* Try living at home or in an apartment with roommates to save money on housing costs.

* Don't be afraid to take advantage of scholarships and grants from local businesses or organizations. Take advantage of these opportunities while they last!

*You may not think that a part-time job is worth the hassle, but finding work can help you pay for school and stay out of debt long-term. It's all about getting creative—for example, if you have great writing skills, consider offering your services as a freelance writer or editor to someone who needs it. You can also look into tutoring or babysitting to earn money while you're in school. The best part? Since you'll be able to use your education and experience in these positions, they'll also serve as great resume builders.

 

[sincerem]

As an average man, we ought to cut our spending to a certain level as students. We don't need to follow friends, because we want to look catchy, some people aren't the same. It might be that, their parents has enough to cover up for their upkeeps and various needs in school. Or the ways at which they're making money is malicious or they work so hard on their own to make the money. Instead, we should make good friends just as you've said, learn from them, how they're making their money and not asking them for monetary help. When I was a student, I don't stay with friends that only rely on my help alone, when I need a help on my own to succeed in life. I have some friends in the school, most of them are just there to demand from me, and I really don't have enough which they asked of. In such a way, they're just trying to drag me back, the best I did, was to cut and limit myself from them. Have to work on my own since I couldn't make any friend that helped my life positively. Now that I'm working alone and learn alone, I am even making the progress more than earlier time with them.

 

[Abigael]

These are very good tips to avoid loans as a student which is something I wish I had done when I was one. I used to get into huge debts when I was in university and it was so hard to get out of those debts. The things I can advice you to do in order to avoid loans as a student include;

1. Live within your means - So many students get carried away by the joy of being away from home and wanting to do everything they desire. Which is wrong because you cannot actually afford to satisfy all your desires. So you end up taking loans in order to buy things you desire for luxury.

2. Learn self discipline - All these tips and tricks require self discipline so that they can work. Otherwise, you will plan one thing then do the other. So use this time while in school to learn self discipline. The only way you will know someone has actually matured is when they can control their selves without having someone accountable overlooking the process.

3. Lastly, learn to budget the money you have - It could be money you get from parents, your own income from part time hassles or money from student loans. Budgeting will enable you to spend that money wisely.

 

[Ithedicious]

Thank you for sharing. As a student that I will be , I will always try as much as possible to avoid a situation that I have to get a loan or to start up something with a loan or to live above my means to a point that I started borrowing money to sort out my life issues , no this is not the best way and sometimes it could even result in stress and depression which is something we all do not want.



Sometimes the reason why this is happening is always as a result of peer pressure and as a student , that is what we should try to resist because when we are being pressured into something we might likely fall along with it and this might result in borrowing money just to be like another person and this will not help us in any way.



Even if I have to be in school , I have to make sure I focus to my study because that is really the most important thing to me and all the things that is happening around the school shouldn't really be my point of consideration , because most of them is the major source of distraction