If you are student living in Kathmandu came from different parts of the country to study and don’t Know how to manage money, then here is the 5 tips that help you to manage.
Kathmandu is very expensive city than other city in Nepal. so living here is challenging. Students don’t know how to survive because they are new and ended up spending their parents money on various money sucker things.
- Follow the 50/30/20 Rule (or a student version)
- 50 % Needs: Food, rent, internet, mobile.
- 30 % wants: Eating out, entertainment.
- 20 % savings/debt: Emergency fund, long-term goals
- student version : If your income is small, start with : 70% Needs | 20% savings | 10% Wants
- Stop wasting on CHIYA everyday
- Use free apps like Walnut, Money Manager or even Google Sheets.
- Know where your money goes – you’ll be surprised how much is wasted on small things.(e.g. daily milk tea).
- Create a Monthly Budget
- Set a limit for each category: food, transport, mobile data etc.
- Example:
- Rent: Rs. 6000
- Food: Rs. 3000
- Internet/Phone: Rs. 1000
- Savings: Rs. 2000
- Build an Emergency Fund
- Save at least Rs. 500 – 1000/month.
- Keep it in a separate digital wallet or savings account – not your pocket.
- Avoid Bad Debt
- Don’t borrow money for wants (e.g. new phone and parties)
- Only take loans if they’re for skill-building(like a course that boosts your income).
- Stop by clothes every month
- No need to buy clothes every month because you others wearing new and costly doesn’t mean you have to compare yourself to others.
Bonus Tip: Invest in Yourself
Spend on skills that can increase your earning power: freelancing, digital tools, communication.
