Ever have that feeling of dread at the end of the
month where, you open your wallet, and a moth flies
out? Does the month end make you apprehensive,
purely because you know that your cash is running out?
Then welcome to the world of being a young adult as
the allowance pool runs dry.
Of course, it isn’t easy managing an entire span
of time with one fixed amount. Anybody starting out
on their first job will eagerly attest to that. However,
managing a lengthy period on a stipend is the first step
for young adults to truly understand the concept of
money management. The few tips below should help in
stretching your pocket money:
Save a little for the month to come, it will serve you
well. Even a tiny sum put aside will come in handy
and offer a thrill of its very own. Repeat the trend on
a monthly basis, and after a while, you can spend that
money on something consequential. Cautious spending
is always advisable. For instance, what’s the one thing
you don’t need to spend on? Academics. Most things
associated with this are already taken care of by your
parents, right from your course work to your stationery.
Avoid splurging when possible. If you’re out with friends,
why not split the restaurant bill?
Neil Fernandes, student of engineering from Assolna,
agrees with this point of view. He states that his expenses
are always measured out. “My friends and I have a system
wherein no matter where we go and how much we spend,
we divide the end sum by the number of people. This
ensures that no man gets left behind whether they are
flushed with pocket money or running dry at that juncture.”
Similarly, global pocket money/allowance trends
find themselves making their way to Goa. While parents
ensure that kids understand that tasks undertaken yield
results, chores are rewarded with allowance increases.
In the United Kingdom, a recent report found that girls
are more likely than boys to earn their pocket money by
helping around the house, with tidying one’s bedroom
found to be most the common task followed by
washing up. Sangeeta Naik from Porvorim concurs with
this. The Fine Arts student highlights how she earns her
extra pocket money when she says, “My parents give
me a certain amount on a monthly basis and offer me
an additional sum if I keep up to certain commitments
when it comes to household chores.”
Like Neil and Sangeeta, other youngsters share their
pocket money views and woes as well:
