Annastatia Somadila shares how she spends money as a scholarship student in Russia.
She says, “Our finances will always be a great part of our lives because we will keep earning and spending but don’t let your spending be more than your earning.
A student reading this might say, “I’m not earning yet, so it doesn’t concern me.” Well, it does concern you because you receive stipends as a scholarship student or you receive monthly allowances from your family.
If you can be faithful in little, then you will be faithful in much. You start learning how to save when you don’t earn money of your own.
One thing that you must bear in mind is that, if you can’t save, then you can’t make investments because you need to plan on the kind of investment that you want, then provide the money for it and start investing.”
“To be able to save and make investments in the future, how we spend daily counts. There is something I tell myself that encourages me to save. I always tell myself that I have a place that I’m heading to and to reach that place, I need a lot of money and planning and so I plan and save as I should. You will be motivated to save more when you have a purpose for it.”
Annastatia says, “I am very calculative in my spending. Every three months, I go to the mall to shop for food in bulk. And I spend about 6000 rubles and sometimes less depending on the cost of goods. And weekly, I spend about 800 rubles on meat or fish, vegetables and fruits. These are perishable goods, so I can’t buy them in bulk like the others.
In a day, I spend 60 rubles on public transport. I usually use buses, that’s why it is so cheap. I avoid taxis, not because I can’t afford them, but because I am cutting down my expenses. Well, on rare occasions, I could use a taxi if time is not on my side and the price can range from 190 rubles to 250 rubles.”
“For my clothing, I don’t shop for clothes regularly. There is something I noticed about clothes if you buy quality and affordable clothes, you won’t worry about clothes for a very long time.
When I arrived in Russia, I bought clothes because they were cheap and not because of their quality. After a year, they wore out and I had to buy new ones again which was not in my plan. I said to myself, I should buy affordable and quality clothes that will last years before I think of buying new ones.
So I went on research, I found out about Love Republic and Zara. These brands are averagely expensive but you can afford them when they are on sale. So I studied them and found out when they usually go on sale and I went during their sale periods to shop for clothes. I got quite a number of clothes from them and I don’t regret it.”
“I’m sure I have clothes that will last me for a long time before I consider getting new ones. It doesn’t matter how many times you repeat a cloth, what matters is that you look neat and presentable anywhere you go. You are not in competition with anyone. As a lady, plait your hair and as a guy have your hair cut. Just look presentable all the time, that’s what matters.”
“Before going for any vacation, make a plan. You wouldn’t want to get hungry after your trip. So make sure that before going for any vacation, you save towards it.
The same thing applies to buying gadgets and any other thing that you don’t buy often. Don’t buy an iPhone 13 because your friend bought it, rather buy it because you can afford it. Affording something means, after spending money for it, you will still have enough to cater for your daily needs.
They say, as you make your bed, so you must lie in it. Start taking notes of how your money comes and goes today, and know the adjustments to make. Financial security is very paramount and we must learn how to be financially secure. Work, earn money, save and make good investments.”
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