We all know that #19,800 NYSC allowance is not sufficient to take care of your needs, wants and desires at the same time. One has got to plan, budget and save to cover his/her bills. Those who receive no stipend at their place of primary assignment (PPA) understand better the insufficiency of the NYSC allowance.
Which is why here we have tips on how to save out of your NYSC allowance so you don’t end up spending overboard and being completely broke.
1. Set a budget: You need to know how much you are going to spend every day. You have to discipline your spending. If you spend money without the discipline of a budget, you’d end up going overboard with your alawee.
2. Set a scale of preference: You should differentiate between a need and a want. If you really want to make the most of your allowance, you would need to set a scale of preference to guide your decision making and budgeting.
3. Keep the savings aside: You should have separate accounts, one for your expenses and the other for your savings.
4. Try Cooking: If you buy foodstuff and cook them by yourself, you will end up spending less than going to buy expensive cooked food at restaurants.
5. Tone down on the partying: As much as NYSC affords you a lot of liberty, try not to wild out at your expense.
6. Understand the difference between want and need: That you want something does not mean you need it at the time.
