How to Manage the Finances of a Boarding Child

How to Manage the Finances of a Boarding Child

How to Manage the Finances of a Boarding Child As children who live far from their parents and have to live in a boarding house, we must be independent and wise in all things. Boarding children also know how to manage their finances independently.

If you don't manage your finances well, boarding children cannot meet our daily needs during boarding. If left unchecked, when we are pressed, we ourselves will be hit by the stone.

During boarding, you may encounter sudden expenses that make our finances fall to their lowest point while waiting for the next shipment from parents. To avoid this, boarding children must be able to manage finances. No need to worry, the Whiz Financial App. have a way.

Also Read: Tips to Prevent Impulsive Buying

How to Manage the Finances of a Boarding Child

Managing Financial Flow during Kos

how to manage children's finances

Every time you get or spend money, you must record it so that it is managed properly. If it is written well, the boarding house child can find out the remaining money we have. The note can also be a "brake" so as not to overspend. Don't forget to also record the amount of money you have every time you enter or spend. You always know and can manage your finances this way.

Managing Finances for Priority Needs

After being noted, the boarding children also need to make list for our needs during boarding. Boarding children must have a priority scale so that money is spent on something that we will not regret later. First, set the basic needs first. calculate your daily food and transportation costs. arrange it in such a way and make a maximum limit of spending on each basic daily need.

If the money is still in excess beyond basic needs, money can save it for urgent needs. If you want to buy things that are not needed, boarding children can also make list with a priority scale. Prioritize the most needed items first. If you want to buy something that you don't really need, reconsider whether the item is really important or not.

copy Handmade to Manage Finances at Kos

Boarding children are often provided with simple equipment that can support their daily needs. Therefore, reduce the purchase of goods that can be made yourself. If you have a rice cooker or other handy cooking utensil, make the most of it. Direct expenditure to food raw materials.

With this, you can save quite a bit of money. This also applies to goods. If there's something you can make out of clean trash, do it. In addition to saving money, the environment can also be maintained.

Making a Piggy Bank for Change at Kos

When buying something, coins are often used as change. These metal coins are sometimes forgotten by boarding house children when they have a lot of money. In critical moments, these forgotten coins can be a helper, you know!

Just make a piggy bank from bottles or other containers that are not used. When you get change, be it coins or two thousand, put it in a piggy bank. If you manage your finances well, this piggy bank can be one of your savings. When there is a sudden expenditure, you can make this loose change savings as an option.

Managing Emergency Finance during Kos

how to manage children's finances

We don't know when we have to spend on urgent matters. That way, we must always set aside money to be used as emergency money. You can save this emergency money at the bank, e-wallet, or save cash at the boarding house.

Those are the ways that you can use to manage finances while being a boarding house child. What is important, boarding children must always refrain from managing finances. Don't be impulsive!

In order to easily manage finances at the boarding house, boarding children can use the Savings (Tabunganku) and Spending Overview Limit (Expenditure Recording) features at the Whiz Financial App.. Come on, try it!