How to Control Spending Money

by Abdulaziz Malek

Studying abroad is one of the most difficult challenges in a student’s life. Because most of the time the students travel abroad without their families, so they have to know how to control themselves in spending money. Although it might be hard to control the way you spend money however there are some steps to follow to avoid wasting your money. I will give myself as an example to make it easier.

First of all, I have to know how much I get every month or week so I can decide what level of comfort I can get for myself. I am a sponsored student, and I get monthly stipend of $2600. This is enough to cover more than I need. In other words, it is not that good because if I have extra money, I will spend it in a careless way. So there has to be a way to avoid this issue.

Second, I have to save ep some money from my stipend I get. Saving money is very important because no one knows what will happen in the future. Maybe you had an emergency case and you are supposed to have extra money. For instance, if I get sick, I need to buy medicine, so saving money will help me to avoid running out. I save $500 of each monthly stipend I get. So I saved for my future. My stipend now is $2100, which is less than before. This is the best solution of spending money in a careless way because of having extra money.

After that, choosing the perfect place to live is important. Since I get a decent stipend, I can live in a comfortable apartment close to the university. I pay $830 in rent for a nice apartment close to the university. As you can see from this example, you have to know what kind of apartment you can afford.

Finally, I keep the rest of the money for food and my living requirements. Usually the first stipend I get in the semester is hard to save and spend, because I have to buy my textbook to study. I have to be patient in the first month of the semester. In the other stipends I get, I have to put a limit on spending money for food. I eat eat from restaurants a lot, and most of the restaurants’’ meals cost about $10. I usually eat lunch and dinner from restaurant, which costs $20 every day. On the other hand, I eat breakfast in my house, and I buy the food from HEB, which is a store to buy food and cooking stuffs, and it costs me every week $15 to buy the food for breakfasts. Now you should know if you eat too much or you eat less than others, and put limit on your spending for food.

In conclusion, these steps will help you control your spending of money. It will help you not be worried about money and pay attention to studying.