How to have your bank account say thank you ?

As every student learning to be independent will find out, managing your expenses can be tricky. Today we are going to talk about 3 major tips to help you organize your budget so that you can enjoy your student experience to the max. 😉

3 tips that will help your bank account thank you

1. Establish your budget such as in the NYOLEM challenge

This first tip is THE golden rule for every student that needs to look at his expenses. Just write down every monthly cost that you will have to pay, such as your rent, your fees and your mobile package and then subtract this to your available funds for the month. Once this is done, just divide what you have left for food, activities, nights out, …

2. Competition is your friend 

When you talk about saving money, competition between the services or products that you need is your ally. For example, as a student, Internet and mobile phone data could be crucial and can take a big chunk of your monthly budget if you don’t think smart and compare offers or even try negotiating with the providers. This is mainly for internet and mobile data providers however, this can also apply to food markets, hairdressers, bars, pretty much everything that you buy! So don't hesitate to play the competition game to ensure you are always getting the best deal!

3. Be prepared for unexpected events 

Just because you avoid checking your bank account doesn't mean that it refill itself. Monitor your financial situation rigorously and, in case of difficulty, notify your banker or creditor in advance. This will allow you the time to put together the solutions to fix whatever situation you may be in. 

THE app that Simply chooses to help you apply those tips

Bankin’ 

This mobile app is fully equipped to help you manage your budget. Once you have established your budget (tip 1), fill in the budget that you plan to use for food or other activities and Bankin’ will separate every payment that you do in a section so that you can easily know where you have to reduce expenses.

For more information, just check out the Bankin’ website here: https://bankin.com/
Finally, learn more about a healthy and steady lifestyle with our NYOLEM challenge !

Simply yours,

Hugo