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Health and Lifestyle

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Strike will soon be over (I really pray so!), the roller coaster life will soon commence, definitely your biological cycles and patterns will soon be unscrewed to a new degree; series of overnights, tests upon tests, roaming around like zombie from one lecture theatre to another, extracurricular activities and sooner a hale and hearty sleep will become a luxury. Of many necessities, money would become an important commodity and chances are that you will probably be placed on either a monthly, weekly or semesterly salary ( allowance) or perhaps daily pocket money.

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A short story, A friend of mine used to be given 10,000# for monthly upkeep, he planned his expenses around it and as every other student, he was rocking his life and fortunately he got a scholarship of 100,000# plus his monthly stipend making 110,000# but after awhile he noticed that nothing really changed from his former lifestyle and his present , before the end of the month he would be as broke as any other student, he was shocked and at the same time surprised why? Because it not really about the amount but proper management is, eventually your necessary expenses will catch up with your income. Therefore IOI brings you 5 wisdom nuggets to better manage and utilize your allowance optimally.

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1. NEVER SPEND ALL

How will that be possible since the money I am receiving monthly hardly sustains me! yes I know, it’s not enough and would not be enough why? Human needs are insatiable, your wants are also insatiable, so the first step is to come to terms with what you have and utilize it, atleast for some time. Never plan to spend all your income. Decide to take a portion out, preferable 10% and practice nugget 5. “An empty purse does gold avoid”.

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2. NEVER BUY ALL

What do I mean? I mean budget your expenses, study your habits as a student, classify, evaluate, compare and contrast your necessities from your wants, since your goal is not to be stranded therefore you need to work a workable plan for your expenses and discipline yourself to follow through with your scheduled plan, it’s not easy I guarantee, but it worth it big-time. Cut your coat according to your cloth not your size, please. Stay away from those unplanned flashy shoes and all that and you will realize how bouyant you will be.

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3. NEVER BEFRIEND ALL

Does that get you? Remember you have a goal, to stay un-broke isn’t it? Yes. That means you won’t be friends with every eatery everytime, every supermarket, every mall, every market, every clothes stores, jewelries, relaxation and resorts all the time, except it’s part of your budget for the month. Also you have to stay-clear of some friends that doesn’t share your mind, you know those friends right? Always buying coconut and gala with Coca-Cola and as-dey- hot, and always buying clothes, buying anything buyable impulsively, you have to dissociate yourself and befriend new friends that motivates and encourages your mindset.

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4. NEVER SETTLE FOR LESS

Okay it’s fine the money ain’t enough, don’t complain, they are actually doing their best for you! But what can you do about it? That’s the solution, as a student you can still engage in legit businesses, look-out for business or skills you can learn to hold your soul and body together, do research and find out, the things you can do, that would not disturb your first duty as a student and at the same time benefits you financially. “Why complain when you can act”.

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5. NEVER NIP THE FLOW

Finally, don’t stop the flow, you remembered the remaining portion not to be spent on (10%), the purpose of this allotment is to save it, save it and save it to a secured institution, ensure to find out the legitimacy of the institution, the purpose of this savings is to invest the money, and as you are studying, your money is growing that sounds good right!start small and end big, imagine you have been saving #50 from your first year on Obafemi Awolowo University campus, you probably would have become a millionaire by now, lol.

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Conclusively, talk is cheap but actions separate “men” from “boys”. Follow- through with this nuggets of wisdom and practice them and wave brokeness a good bye.

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