As a student, your primary responsibility is to study hard. But, education is not cheap, and if you can contribute a small bit towards your higher education, not only will it help your parents, but you will also cherish the contribution.
Again, let’s face it, the way the world is spinning economically, it is honestly a good idea to learn to save from an early age.
So, if you are a student and looking for ways to contribute to your education loan, in this article we will shed some light on ways you could implement to support the cause.
Cut Down On Your Expenses
As a student, almost every bit of your income is delivered as pocket money and generous contributions from relatives during festival seasons or birthdays. You can plead with your parents for a raise in your pocket money and keep your relatives impressed, but it’s not in your hand what you will get. But, what is in your hand is what you spend. Try and save more, and don’t indulge in mindless or pressured purchases.
Earn Some Extra Penny
You may look for a part-time or freelance job, which will help you to accumulate additional funds. Some extra cash is always helpful. The job should be flexible in nature and align with your breaks. Choose a job that will enhance your skills and not cut you slack on time.
Open A Savings Account
Whatever you earn or get, don’t keep it lying in front of you; put it aside in a savings account. The banking scenario today is extremely convenient and allows you to open and operate a savings account from the comfort of your home or campus. So, look for a digital savings account.
Kotak Mahindra Bank offers a digital zero balance savings bank account. The account is loaded with features that are convenient for students. You get a zero balance savings account, where it is not necessary to maintain any minimum balance in the account; the bank will not charge you a penalty or fee for not maintaining any balance in the account. You also get a no-cost virtual debit card for all your digital payments.
Avoid Eating Out Often
This applies to students who live in hostels or away from home. If you are boarding a college hostel, even if you don’t find the food indulging, don’t tend to lean towards takeaway. Eating out is not healthy and is pricey as well. If possible, you can cook for yourself. So pull up your sleeves and let the chef inside you create something awesome. Not only will you save some money, you will also be eating something healthy.
You can save money and enjoy life as a student. And in the end, if you can contribute some funds for your future education, there will be nothing like it. Click here to learn more about how you can save money, earn interest on it, and contribute more towards your education loan.