By Nor Syazwani Darzi
Many students choose to take loans from Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN) rather than wait for scholarship offer to continue their tertiary education at the university. To get a scholarship, one has to be among the best, and to compete with hundreds or even thousands of students.
While it’s always been very helpful for students to have PTPTN loans, the rate for paying back the loan is rather disappointing. Yet, that is not the only problem for the students to think about. Normally the quantum or amount of the loan disbursed is not enough to support the expenses for the whole semester, if you fail to plan your expenses.
So, what should you do?
From my experience and calculation, there are ways students can manage their loan throughout the semester.
The answer is for students to spend their money wisely. What does being wise mean? Well, use the money on really important things that give you a lot of benefits and returns. For example, spend on books or even on foods or stationaries.
Some would even ask why spend on food, and putting it in the same category as books. The need to provide energy comes whenever we study. So, food is crucial to fill up the energy. Students spend a lot of their money on unnecessary and non-beneficial things such as snacks which is not good for your health, it is a bit expensive apart from not giving you the joy of having a full stomach.
You need to choose true friends. It is a bit of a cliché to express this but it is a fact. Befriend someone of your standard. Never be close with someone who loves shopping, especially for girls. Window shopping is always a temptation for girls or even guys. You are even more in a ‘crisis’ if you are a branded -things- lover type. It will cost you a fortune.
Even if you are not befriending a shopaholic, do not get yourself used with the shopping malls. Go out for an outing only if needed or do it once a month and do not forget to have a budget plan prepared during the outing. Also list out all those things needed and never go astray from the plan.
Being an up-to-date person is not wrong but if you need to buy all those updated clothes, shoes, handbags and whatnot just to be a fashionista, then it is absolutely wrong and in a way, a burdensome. This advice is useful until the end of time because everyone needs to survive for the whole month but if one acts or behaves like a multibillionaire, he or she could use up all the money in just one whole week or even in a day. It is not a surprise if such thing happens.
Last but not least, you can manage your money by dividing them and having it in two different bank accounts. An account for your personal saving, assume it as account A, and the other one is for your monthly expenses, B. Only use the B account for your allowance and monthly expenses. Never ever use the A account except when really necessary, for an example, if you have a motorcycle and it broke down all of a sudden. To repair the motorcycle needs a lot of money. So, it is acceptable if you use the money a bit.
In addition, a student must have consistent savings not only for educational purpose but also because of the current economic condition which is not very stable. You could be a great help to your parents and yourself. Having your own savings might change the situation a bit. You would not stress up yourself and if unexpected situation were to happen, your study plan would not be affected as you already have a contingency plan.
In a nutshell, every student should spend the money wisely and know how to manage his or her money properly. University life is the time where students enjoy themselves, having friends around and learn about life. But, if money problems bother you, everything would change.
A reminder then, if you do not manage your money well you could end up being suspended from your studies for not paying the university bills on time.***
Photo of Bernama