man looking outside window carrying black and brown backpack while holding his hand on window

How to Save Money as a Student and Secondary School Student in Nigeria

How to Save Money as a Student and Secondary School Student in Nigeria

Keeping some amount of money away from your allowance or pocket money as a student or secondary school student in Nigeria is somewhat difficult. This is because the allowance or pocket money given to you as a student is small. It can be frustrating trying to save up money. Nevertheless, you should know that it is possible. In this post, we’ll be guiding you on how to save money as a student and secondary school student in Nigeria.

How to Save Money as a Student and Secondary School Student in Nigeria

1. Don’t Buy Unnecessary Things

You should know that this is the best way of saving money as a student or secondary school student. You don’t have to buy anything that comes to your mind. You should also not buy things due to your friend or people bought them.

Hey, you don’t need that another phone if the one you have is still good and performs a majority of the duties you need.

Hey, you don’t need to move to a better apartment or leave your parent’s house because you see other people doing so.

Hey, your clothes are nice. First grade second hand clothes are nice if it is not torn or faded. Your cream is good for you. You don’t need to start spending or getting things because your friends are getting them.

2. Open a Fixed Deposit

You can open a fixed deposit to regulate how you spend and to save up. Let’s say your pocket money is 30K monthly, you can regulate your spending and save up 5K monthly. You can do it in such a way that immediately your parents send you your pocket money, it is withdrawn from your bank. While saving, you also get some money as interesting.

So, you should imagine saving 5K for 4 years as a university or secondary school student, you save up 240K with interest or about 20K or even more. This is cool money you can use to do anything you need.

EVURA services can help you out with this. We can help you save with this type of fixed deposit. It makes it easier for you as you don’t have to spend.

3. Start a Little Farm

This is a good idea if there is land available for you. As a student, you have lots of time, especially during holidays. You can get a plot to farm. You cultivate the basic food you need like cassava, corn, beans, rice or any other thing. It will go a long way in saving money for you. You aren’t too young to start a farm.

If you have more time, we even encourage you to secure more land, and cultivate on a bigger land. You can sell the excess crops to make money for yourself.

4. Buy Foodstuff and House Commodities in Bulk

This is a good one you should be doing as a student if you stay on your own. You can tell your parents to send your two months pocket money together, and skip a month later, then you enter the market to shop in bulk. You buy noodles in cartons, get garri in painters, get beans also, beverages, and many more.

The larger you buy your foodstuff, the longer it lasts for you. It is a good one.

5. Get a Source of Income

The idea that you are a student shouldn’t make you relax. Aside from your education, you should get a source of income that won’t distract your studies. We implore that you should avoid scamming people or doing shady businesses.

As a university or secondary school student, you earn money as a physical tutor, a freelance writer, a graphic designer, a web developer, a professional gamer, online tutor, and many more. There are many opportunities for students online and offline. You should capitalize on them, and earn extra money from them. You don’t have to be depending on your parents all the time.

EVURA services can help you out with teaching you these skills to enable you gain extra money as a student.

Conclusion

This post has so far guided you on how to save money as a student and secondary school student in Nigeria. You should follow the procedures described here, and you would be able to save money. It’s a good guide.