KATHMANDU:

Many of you will heading out to college soon. And it’s a whole new ball game out there. You will be leading a kind of grown-up life in a way. You will be responsible for your expenses and will have to manage your budget. And it is not easy. More often than not you will find yourself without a currency, and those of you who are a little more wise may have saved the coins that the bus conductors or the cabbies returned you in a bottle. These might tide you over till the next cheque from home arrives.

It better to plan your budget and not feel pinched by the middle of the month itself. Here’s what you can do.

No impulsive buying

Impulse shopping can be very tempting while out and about. The problem with this is that you end up blowing money on stuff you don’t really need, and sometimes on stuff you don’t really want. Before making a purchase, make sure it is truly necessary.

If you can, try and eat and shop with your friends — buying food in bulk is often cheaper. And BOGOF (Buy One Get One Free) when you can.

No pending bills Make sure you pay your bills on time, and on a monthly basis. This helps in better money management.

Second-hands are good

Before spending money on brand new books, try second hand book stores. You could also buy books from your seniors at half the price.

Pre-paid rules

Would it be cheaper to have a pre-paid mobile phone, so you don’t run up big bills? Make sure you put money aside for mobile phone bills and keep spending to a minimum like everything else.

Give up bad habits

Everyone has at least one bad habit. Whatever it is, cut it out. You’ll be surprised at how much money you save.

Stop imitating richer pals

Just because your roommate or other friends have a seemingly endless allowance, it doesn’t mean you do too. Try to avoid keeping up with them and stay true to your budget.

Stay in

While it can be nice to get out of the dorm every now and then, staying in is much cheaper. Instead of going out for the night, invite a few friends over. It’s cheaper. —Compiled

Top 3 tips

Track it: Track your spending for two to four weeks to find out where your money is going. Are four trips to that trendy café a week really necessary?

Get a plan: The best way to manage your money is to map out a budget.

Pace yourself: Give yourself a spending limit for each week. Stick to it and you won’t have to eat on credit at the nearby eatery at the end of each month.