3. Read more financial books: It might sound boring but the truth is reading boosts the power of knowledge.  In fact, most things we come across in life which we don’t know but the reason is simple that we are not smart enough to know it.  In simple words we never got exposed to the subject that we are unknown.  If your parents don’t get the time to teach you much about money managing, then you yourself try to get some positive financial education. It is better if you read one of the top personal finances books to increase your knowledge.

4. Track your spending: Preparing budget alone is not enough until and unless you stick to it. Every student should maintain a record of spending and in what. If in any category you find spending is exceeding the budgeted amount then try to re-evaluate your budget sheet. Another way to keep ensuring that spending never exceeds the budget is starting with an envelope system in which you can label the envelope different spending categories. Make sure that you fill the envelope with cash for a particular month and stop spending when the envelop gets empty and refill it in the beginning of the next month.

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