Don’t end the Semester Broke- Financial Hacks for Students

Christmas and vacation are just around the corner and these festive, joyful seasons can be rather miserable and boring if you are broke( financially bankrupt) and can’t even afford call credits or data. If you are a student, then you are well acquainted with the term ‘broke’. I mean that time in your student life when your pockets, bank account, mobile money, ‘chop box’ and every possible source of fund is dried up.

So how do you manage your finances from the beginning of the semester or term so you can still go home smiling and with some change in your pockets? Well as always, studentshubgh got your back. Here are a few time-tested and trusted money management tips to guide you:


Yes, my friend. Budgeting is not only for the country and parliament. Neither is it reserved for your mother’s grocery list shopping. It is important for you as a student to start living with a budget. This will do wonders not only for your short-term finances but for your financial future in general. A budget is simply an estimate of income and expenditure for a given period of time. This means you can set a budget for the semester and have in mind how much you intend to save or keep for the vacation or more important purchases. Unlike the days of our parents, when they had to do their budgets in notebooks, we the smartphone generation have a host of apps to help make our budgeting easy, fun and efficient. Some apps actually link the app to your bank account to keep you updated on how much you are spending or saving. Eg. WalletSpendee and Expense-Monthly


There’s a popular saying, ‘If you don’t know where you are going, any path leads there.’ I believe this applies to financial goals as well. If you don’t have a financial plan or goal, then whatever you spend your money on will be cool. So have some financial goals. Why not start with simple ones like- ‘To have GHC 200.00 to take home this vacation’ or ‘To save GHC 500.00 for an e-pack investment by the end of my third year.’ Or even ‘To buy a laptop with my own money’. You may not realize this but you get a lot of unearned money as a student and you have fewer expenses than you will have for the rest of the years ahead of you. It is a good idea to start saving some of that money towards greater goals instead of spending them all during hall week and on clothes. Setting goals will help you spend more wisely and stick to your budget.


You never know how important coins are until all you have left are a bunch of them that you can put together for a meal. For many of us, we disregard and often lose our coins when we have a lot for money. Develop the habit of saving coins daily. Get a coin box that you will not touch until the end of the semester. Put in some coins every day and even collect coins from friends who are willing to part with them. At the end of the semester, check your coin box for your treasure. Do you know you can exchange those coins for notes either from the Bank of Ghana or from Trotro drivers (smile).


So, we hope these tips can help you save some money this semester. Do you have other money-saving hacks, share in the comments below.

Afia Bobia Amanfo is the co-founder of Studentshubgh. She is a committed Christian and also passionate about education and alleviating poverty. She is currently studying for an MSc in International trade in Paris. Her desire is to help create opportunities for young people in rural areas. She loves to write on Christian growth, academics, and career

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