The Zone dropped in at the Unam main campus to ask students’ views on how they and fellow youth can remain financially sound, amid the current economic situation in the country. Here are some of...
20 August 2019 | Opinion
Prioritise what you are going to spend your money on. Additionally, if you saved the previous month, you will definitely be good to go for the following month. The saving’s process is not a once-off thing and should be practiced throughout all months.
Maria Daniel (6277)
I personally sell lollipops, Nik Naks and recharge vouchers on campus to survive in this critical economy. Despite the fall in the GDP and the balance of payment deficient, as a business person, I believe that the economic situation will eventually improve.
Spend more on needs rather than wants. Youth are spending money that they don’t even have, on things we should not be spending on. My advice is to just guide yourself, when it comes to your pockets. There is nothing wrong with spending on yourself, as long as you don’t regret it the next day.
Laurentia Roman (6286)
I have my own business. I have a T-shirt brand, which caters mainly for women. I am also an MC and promoter, so those are some of the ways in which I secure money to survive in this tough economy. I advise youth to push for their dreams and secure the bag.
I plan out my finances and stick religiously to the plan. We need to have our priorities straight and distinguish them from our wants. It takes discipline, and if you are not disciplined when it comes to managing your funds, the situation will humble you.
Kahewa Endjala (6312)
I make sure to always budget and plan before I act or spend, and I follow the plan I have drawn up for myself. Another thing is the value of investing; allow your money to grow and at the same time be smart about your spending.
Utilise your money responsibly. For instance, first pay the most vital expenses and then you can treat yourself with what’s left. Sometimes there are events, public lectures or seminars that you may want to attend, but you do not have the money.
I avoid going out with friends and spending money unnecessarily. If I do, I schedule it to ensure that it is in my budget. The secret is to not put yourself in temptation’s way. Pack lunches for school and go straight home. You can only spend if the opportunity arises.
Hilkka Amweelo (6245)
I own a small business of selling lollipops at school, which my fellow students really support. From this business, I generate an income from which I pay for my monthly cosmetics and taxi money every day.
I remain financially sound by firstly limiting my spending and cutting out unnecessary expenditure. Secondly, budgeting is of great help, and lastly, staying home whenever I can to refrain from bad financial decisions.
With what I get, I try to make the most out of it. For example, I normally buy things and resell them to make additional cash. Find as many ways to generate income with the limited funds you have, such as through selling affordable items.
I honestly feel like we are in a big problem. This is caused by not putting money where it is supposed to go; in other words, not spending it on the intended purpose. We need to focus on the bigger picture and it starts with a change of mindset.