• Swagat Patel


"Be saving, but not at the cost of all liberality. Have the soul of a king and the hand of a wise economist."

It is always so tiresome to earn money, then saving money and deciding on priorities is a gruesome task altogether.

Saving money is great for emergencies, but making the most out of your savings is even better. You don't need to be a working employee or a businessman to make intelligent decisions on the purpose of your savings, you can do so even as a student.

It's all about finding the right balance. Once you hang of it, you can simultaneously save and invest in discretionary expenses such as travel, movies or just eating better food. Planning on this can save you from the life of pauper in month ends.

Let me sight you an inspiring example of money management and philanthropy. Malhar Kamble, a young boy from Dadar, Maharashtra cuts out his pocket money to clean garbage and trash from beaches with his friends since 2017. Malhar, who came into limelight as a contestant of popular show "Roadies" has received an award by the united nations for his commendable work.

Till now, he has cleaned up tons of garbage through his organization Beach Please, by managing expenses from the participant's pocket money while simultaneously enjoying a personal life.

This was one of the many examples of students who have made a name for themselves with financial sustainability and good intent. You must have heard this many times that money doesn't grow on trees but, we believe differently, we believe that money can also grow organically with the right thought process and the will to achieve financial freedom.

A Guide to Money Management-

1. Make an emergency fund and pledge not to touch it till an actual emergency.

2. Stop lending more than you can let go of.

3. Separate your food expenses, as you can stay without perfume but not without Maggi.

4. Write down your finances once a week or you can use apps like KhataBook.

5. Set up a limit for expenses on liquor/partying and travel.

6. Don’t intentionally spend the money left with you in Month eng and start saving.

Things you can invest in:-

1. Equity/Mutual Funds -Investing in stable companies to get dividends regularly, which can get equal to the money invested in some time.

2. Social welfare/Donation/Care for stray animals-Philanthropic activities.

3. Learning about the stock market/Well Performing Companies /Mentoring -to get a head-start over others while you start earning.

4. P2P approach- ‘LenDenClub’ is a well-known platform, which can provide around 25% returns on average.

5. Crowdfunding investor in start-ups -High risk and high returns.

6. Fueling Your Passion-Buying a camera/Guitar/Book/Online Course/Laptop.

7. Invest in Self Brand Building-physique/Grooming/networking.

8. Invest in scholarship and admission forms that can get you into excellent universities.

Things you must avoid-

1. Avoid Debt unless you are in an unavoidable situation.

2. Don’t buy Stocks/Mutual Funds in Margin-You should always have some amount to sustain if anything goes wrong.

3. Bad Influence -Gambling/Alcohol/stocking up of accessories.

The aim of this blog post is to introduce you to the idea of financial freedom. It means that you are prepared to make life choices without being too anxious. Instead of just being intimidated by them, you manage your finances. The road to financial autonomy is not a get rich quick strategy.

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