Being a K-Pop fan is expensive. From the fact that you’re geographically away, to concerts, merchandises and albums, to memberships to fan clubs and attending events, you’ll surely be noticing at some point that you are spending a fortune on satisfying your crave on the inevitably K-Pop world.
While these advises doesn’t apply to myself (it’s just that I have a different spending case and priorities), I’m sure however these methods of saving up could apply to you, and as a K-Pop fan, you can now have the freedom to spend your savings to the extreme.
As the excerpt says: It takes a lot of courage and perseverance
However, if you are rich already or your parents tends to have a lot of disposable cash/income in their stash, then why are you still reading this article?
Perhaps the most hard-to-swallow fact is that if you are a student, without any source of income aside from your allowance that your hard-working parents are the fact that the money you have doesn’t come from your hard work, and your parents still have the discretion on where you could spend it.
In most cases, parents wants the best for you – so they give enough for you to spend on food, travel and anything else extra you might want to spend it. But most students do get allowances that are enough only for the former two, and not the latter.
I’m not sort of a financial expert – but as a businessman who tends to also manage our finances as well as a student, I strongly advise to do the following:
Set a budget for everything
This might be hard for most of us, but I guarantee that setting a budget towards everything would help you identify your expenses. This method helps as you can identify your budget for food (reduce or add if necessary), and leave an amount for other extra expenses which could come handy. However, leave an amount for savings that you wouldn’t touch for some time.
Students tend to be short of their money when an unexpected due comes in. But most of the time, you can have the luxury of asking your parents for an extra, since it is their responsibility to take care of those.
Get a place or an ATM to keep your money
With the emergence of junior savings accounts on banks (which enables youngsters and students below 18 years old) on opening their bank accounts with parents’ assistance, students could now save up while enjoying the benefit of saving up in a bank (usually high interest per annum) and safekeeping of your money.
Of course, to make this effective, you shouldn’t withdraw it. Give it to your parents or to someone who could you trust sincerely in order for you not to withdraw it – don’t forget to get the account name & number and/or passbook (if applicable) so that you can still deposit the money you saved up.
You can also have your own piggy bank to keep your money with. Never count the money and just open it up when needed – you could be surprised with how much you have saved up.
Don’t buy things you don’t need
Sometimes you just have to be real and read between the lines, need vs wants. When it comes to concerts like this, sometimes the only budget you have is for the ticket itself and a few for food and drinks. But if you have extra more money, then buy what do you think is essential and save some for your wants.
Take note, when you have extra money, it doesn’t mean you have to spend it all in one day. You can still save it for other things or you can save it for the next K-concert around. – HallyuLife.com
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