“Father’s love is as tall as Mount Tai, mother’s kindness is like water flowing from a spring.” This familiar proverb speaks volumes about the immense sacrifices parents make for their children. But did you know that, starting right now, you can show your gratitude to your parents by saving money to cover your personal expenses, or even contribute to the family?
Why Students Need to Save Money?
“Money is like paper, it can’t be kept.” This saying holds true for those who don’t have a financial plan. But for students, saving money is not just about “keeping” it, but also about:
1. Developing Financial Management Habits Early
Saving money helps you develop effective financial management skills. Instead of relying on your parents, you’ll plan your spending, allocate funds reasonably, avoid waste, and cultivate discipline.
2. Preparing for the Future
Do you dream of studying abroad, buying your favorite phone, or simply going on a trip with friends? Saving money is how you realize those dreams. You won’t have to depend on your parents and can be financially independent.
3. Demonstrating Independence
Earning and saving money yourself is proof of your maturity and independence. Your parents will trust you more and be proud of you.
Effective Ways to Save Money for Students
“Constant dripping wears away the stone.” Saving money also requires method and persistence. Here are some effective ways for students to save money:
1. Set Goals and Make a Plan
Before you start saving, you need to clearly define your goals. Want to buy a new phone? Travel with friends? Or save for tuition?
“To plan tomorrow, you must succeed.” (Victor Hugo) – After setting your goal, you need to create a detailed plan, including:
- Amount to save: Estimate how much money you need to reach your goal.
- Saving timeframe: How long do you need to save to reach your target amount?
- Saving methods: How will you save? From allowance, part-time work, or family support?
2. Control Spending
“You get what you pay for.” You need to know how to control spending to avoid wasting money.
- Track expenses: Record all your expenses in a notebook or expense tracking app. This helps you easily monitor and analyze your spending.
- Categorize expenses: Divide your expenses into categories such as living costs, study expenses, entertainment, etc. This helps you manage and adjust spending accordingly.
- Cut unnecessary expenses: Review your non-essential expenses and find ways to cut back. For example, instead of eating out, you can cook at home; instead of buying branded goods, you can look for secondhand items.
- Look for deals: Take advantage of deals and promotions to shop at lower prices.
3. Find Additional Income Sources
“Labor is glory.” In addition to allowance from family, you can look for suitable part-time jobs to increase your income.
- Tutor: If you excel in subjects, you can tutor younger students.
- Part-time jobs: You can work part-time at stores, coffee shops, etc.
- Participate in contests: Many contests have attractive prizes; you can try your hand and earn extra income.
- Online selling: You can use your business skills to sell online.
4. Save Small Amounts of Money
“Little strokes fell great oaks.” You don’t have to save a large amount of money right from the start. Start with small amounts like:
- Save from allowance: Every day, you can save a small portion of your allowance.
- Use spare change: Instead of keeping spare change in your wallet, you can put it in a piggy bank.
- Utilize bonuses: You can save all or part of your bonuses.
5. Use Banks
“Money deposited in the bank, profits multiply.” Banks are safe places for you to save money.
- Open a savings account: You can open a savings account at a bank to deposit money and earn interest.
- Use an ATM card: An ATM card makes it easy to withdraw money and manage your account.
6. Listen to Advice from Experts
“Experience is the best teacher.” Refer to advice from financial experts to learn more about managing and saving money.
“Young age, great talent” like teacher Nguyen Van A – a financial expert, author of the book “Get Rich Young” – once shared: “Saving money from a young age is one of the important secrets to achieving financial freedom in the future.”
Story About a Boy Who Knew How to Save
“Where there’s a will, there’s a way.” A boy named Minh, with a dream of studying in Japan, knew how to save money since high school. Every day, Minh saved 10,000 VND from his allowance. After a year, Minh had accumulated a considerable amount, enough to cover his study abroad expenses.
“Believe in it, and it will be sacred; avoid it, and it will be safe.” Minh believes that saving money from a young age is a way to show gratitude to his parents and build a solid foundation for the future.
Conclusion
“Learning must be combined with practice.” Saving money is a necessary skill for everyone, especially students. Start today by setting goals, making a plan, and implementing it persistently.
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