Chapter 1: Understanding Your Financial Situation

As a student, managing finances can be quite challenging. Many students find themselves in a situation where money is scarce. I’ve made the mistake of spending impulsively without a proper budget. While it's true that money can be earned back, it often comes at the expense of time. For instance, in my case, one hour of teaching translates to approximately 15 Euros.

This situation might seem manageable to some, but given that I only work part-time, it doesn't amount to a significant income. And yes, I am currently trying to navigate life while on a tight budget.

Reflecting on my past choices, I realize the importance of budgeting. A few months ago, I would meticulously outline all my anticipated expenses for the upcoming weeks and months. I treated that money as if it were already spent—poof, gone! I recommend moving those funds to a separate account or using an online vault feature in your banking app, like I do with Revolut.

When you’re tempted to indulge in a luxury, like that Starbucks coffee, remember that it represents a portion of your hard-earned time—at least 20 minutes of my life! If I were in that moment now, I might pause for 20 minutes to truly evaluate if that expense is worthwhile.

Now, here are some strategies I've adopted to regain control of my finances. First, I strive not to become overly attached to money. It’s just paper, after all. Yes, it plays a crucial role, but it will always return in some form.

Cooking at home is another effective way to save. I understand it involves dishes, groceries, and time, but it is both healthier and more economical. Additionally, I’ve sought to create multiple income streams. I work as a translator and occasionally write online. While my earnings here are modest, every dollar counts!

Don’t limit your options. If you have the time, look for a job. If you lack the skills for your desired position, invest in learning them—whether it's picking up a new language, enrolling in an online course, or refining your speaking abilities. It may seem daunting, but if you don't take the first step now, you'll find yourself in the same position months later.

Lastly, remember that enjoyment doesn't solely hinge on money. Here I am, savoring a homemade poke bowl, binge-watching Breaking Bad, and soon planning to take some vintage photos with my Instax mini camera.

Ultimately, money is just a tool. The earnings that many of us accumulate in an hour are made by others in mere moments. So, why can't that be you? Until then, it’s essential to master the art of budgeting.

From a nearly broke student to you all, with love…

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Chapter 2: Practical Tips for Budgeting

In this video, we explore five key actions I consistently take to manage a tight budget, allowing me to save money while living a frugal lifestyle.

This video outlines five practical steps to save money and maintain a budget, perfect for those looking to enhance their financial management skills.