How To Avoid Getting Broke In School

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Lacking money in school to meet up to specific needs can be devastating. Poor saving habits, bad investment, poor money-making skills; are some of the reasons why we get broke. Virtually every student has had the experience of been broke in school and this could be a result of not having a reliable source of income.

However, in this article, I will be sharing with you why students get broke in school and ways to avoid getting broke in school. There are so many reasons why students get broke in school, these reasons are;1. Spending lavishly

  1. Not having a skill; most students depend only on their parents for their income, they don’t try to make money on their own by acquiring a skill that could yield money.
  2. When you move with friends that encourage negative habits, you would want to indulge in their lifestyle. Perhaps all they do is spend money on frivolous things which you will also find yourself doing the same.
  3. Try to stay off debt because too much debt could halve your income so avoid debts as much as possible.

Nevertheless, been broke in school can be avoided, so I’ll share with you a few ways to avoid getting broke in school;

  1. Eat out less: I know all the snack, the food you usually sight in school can be very tempting, nothing will drain your wallet faster than eating frequently in restaurants or school cafeteria. So avoid eating outside all the time, always find time to prepare your own meal.
  2. Learn to save and start budgeting.
  3. Avoid debts as much as possible.
  4. Stay away from friends that encourage negative habits.
  5. Learn to live below your mean: There are a lot of students who want to spend beyond their means because they want to keep up to their friends or show others that they can afford a certain lifestyle. Spending above your earnings will only leave you with so much debt to pay.
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In conclusion, know what your aim in life is. If you have skills people are looking for, they will pay money for your services to acquire such skills. So if you want to stop been broke, start developing a skill. If you love to write, develop your writing skills so as earn money for yourself.

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Originally posted on 26/07/2020 @ 10:50 AM

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