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6 Secrets To Saving Out Of Your Monthly NYSC Allowance

The N19,800 allowance for Nigerian youth is not enough to keep them for a whole month. However, it is more challenging for some people whose Primary Placement Assignment (PPA) does not pay them stipends.

It is necessary to keep in mind that money management is more important than money itself because even if your allocation is increased to 100k if you cannot manage your money effectively, you will end up asking for an increase over and over again.

Here are some secrets to save your monthly allowance.

1. Set a budget: you need to know how much you will spend each day. You have to discipline your expenses. If you spend money without the discipline of a budget, you will end up exaggerating with your allowed.

2. Set a preference scale: you must differentiate between a need and a desire. If you want to make the most of your assignment, you will need to establish a preference scale to guide your decision making and budget.

3. Keep savings aside: you must have separate accounts, one for your expenses and the other for your savings.

4. Try cooking: if you buy food and cook it alone, you will end up spending less than buying expensive food in restaurants.

5. Reduce the party: As much as NYSC gives you a lot of freedom, try not to go crazy at your expense.

6. Understand the difference between wanting and needing: That you want something does not mean you need it at that time.