How do I save money without working?

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5 replies
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Got studies and all. All I have is a small pocket money. But I tend to spend quickly. I can't stick with a 'time table' of saving.

How can I save money?

Or how can I gain money while being a full-time student?

5 Replies

crypto Level 1

Difficult to save when your expenses are greater than or equal to your income (pocket money at the moment).

If you have a smart phone, you could use apps like Xpensy, Spendee, MoneyWise etc... (one of them) to track your expenses over one month (or more). You would then know where the money's going (basic made-up example: Rs 12 dholl puri for 5 days = Rs 60/week; for 1 yr [52 weeks] adds up to Rs 3120).

If you want to budget, you can follow this general formula (percentages of your income):
- 50% : Needs (Food, necessary travel, clothing, rent, etc)
- 30% : Wants (Fancy food, brand clothing, latest gadgets, luxury cars, etc)
- 20% : Savings (Better to leave that money aside from the start. Your spending money is: income-savings. Imagine that this money doesn't exist for the immediate future)

gices Level 6
You need to make money to be able to save it and without working that's difficult. Unless you're getting a huge amount for pocket money, you won't be able to save really. This money is really meant for snacks, an occasional treat etc but what you're looking for is a significant saving which you can use a for a big purchase right?

If you have a skill, maybe you're good at repairing computers or something else, then you can use that skill and get cash in return for your skill. Ask friends or family to see if anyone needs your services; it'll be a part time job for you and you can easily save a good amount.
Khush_Mendossa Level 3
I used to repair computers when I was in Form5 lol.
But I lost interest due to lack of time and exams.

My pocket money is tiny I would say.
Gonna consider what you said about asking if anyone needs my services.

By the way do you need help mopping the floor in weekends? Lol joking!
Peaches Level 3
Hmm a little difficult, I know I've been there too. One way to save is to bring food from home when you are to Uni, a sandwich or a meal that can also be eaten cold. Shop for clothes in the sale, trust me never pay full price if you can avoid it, you can save so much on clothes.

Earning money whilst studying full time is a little hard in Mauritius the job sector isn't very flexible. You might be lucky enough to work in retail at the weekends or go online and find work such as writing articles, I know someone who was employed through a company in the UK and got paid per article written, this was flexible but you don't get much money.

If you can avoid working then I would, concentrate on your studies and pass first time round, in order to do this you need to be 100% committed with all your attention on studying alone.
Khush_Mendossa Level 3
I'll try skipping the pizza but I know I won't be able for long. Yeah can't find a relevant job for a student.

I guess I'm going to concentrate on studies like you said. But still, will continue searching for the pin in the hay. I love my country...
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