Best 5 Ways To Use Your Pocket Money!
Apr 16, 2021
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Who doesn't like to save money? There are a million things that you can do with your saved money, and if you are a college student then you can fulfill all your desires with that saved money. And, Yes money matters when responsibility arises. It is important to know how to wisely use your pocket money so that later you can have the lifestyle you want.But, there are times when you spend your pocket money on unusual things. We need to spend money within reason.
The best thing you can do is that you can invest your money in your cash flow. But, where to invest and how to invest your money? Is it safe? So where do you draw the line between saving and spending your pocket money?
To clear all your doubts regarding this and to tell you more effective ways to use your pocket money, here is the list of some ideas that you follow and earn more.
1) Put a major chunk of your cash in the bank!
Deposit in some worthy schemes which comes over you and later you can claim them along with returns. A high-yield savings account is the best place to put your money in banks. You can open a savings account in banks which is offering the highest interest rates. Having liquid cash in your hands will make you spend more and more, and this way you won't be able to track your spendings.
2) Invest in Bonds with your parent's help
What do you need to become richer? How much money do you need to do everything you want?
You can fulfill all your desires by using your pocket money effectively at an early stage. You can invest in bonds and yield income, bonds are often considered less risky than stocks. There are many points you need to know before you invest in bonds, you can find podcasts related to investment in bonds on Kuku FM. Bond ratings and the back record of the issuer are very important to know before investing.
3) Invest in learnings!
Subscribe to educational podcast and Audiobook!
Anything we do in our spare time is an investment. Spending time with family is an investment in personal life, and putting money into hobbies is an investment towards personal fulfilment. Gain the knowledge to be able to use your money to make it work for you. With the advancement of technology in today's world, it has become easy for us to learn anything and everything in our comfort zone. You can subscribe to educational podcasts and audiobooks on various online platforms. One such amazing platform is Kuku FM which covers various educational content on business, technology, investment and much more.
4) Buy Educational games!
The fun-filled learning experience is the best experience you can get anywhere. You will feel more happy and satisfied with the investment you have made. You can buy educational games from your pocket money and engage in game-based learning solutions. You can try various investment games that teach you the importance of investing and why it's necessary to start early. This gaming methodology will provide you with a new experience and you will feel more energetic. This has replaced the traditional teaching methods with innovative learning. Through these educational games, you learn about skills like solving, critical thinking and teamwork.
5) Sharing is Caring! Learn to donate!
You can donate a small amount of money to orphans and poor people. Your small donation can do wonders for them. You can try various options like donating e-learning for kids and much more. You can also donate to various trusted NGO'S who are working on missions like fight against hunger, No child homeless etc. By knowing that we acted to improve the life of another person, it is enough to boost our self-esteem and confidence. We feel more connected and our brain fills with positivity.
Stop living your life bound by your finances. Become financially free, do whatever you want to, travel, explore, learn and experience the world in the way you want to by investing in your freedom!
Even a single rupee earned by you gives a lot of happiness and a feel of victory like you are unstoppable. Don't think of spending more, start saving from today!