A Smarter Way To Manage Your Cash Money

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As a student in Australia, most of you have “released” from the financial control from parents (congratulation!) It is now your responsibility to control your own cash flow. In this article, I am showing you tips about how to control your money flow as well as some safety option.

There are many ways to manage your cash flow. One of the safest ways to carry your money is not to bring cash. You have safer option such as debit card. You can bring your money in small amount, though.

What exactly do I mean?

Here are examples. Imagine two scenarios.

Normal Students

You love cash. What you normally do is bring a lot of cash. You pay for food in cash, buy magazine in cash, buy groceries in cash. What happened then?

You have extra coins. What will you do with the coins? You throw it around.

In most scenarios, you surprise to see coins in your laundry, floor or beside your table.

Besides that, you need to go ATM machine when you run out of cash. Troublesome.

Smarter Students

You bring cash, and a debit card.

You pay food, magazine, and groceries with EFTPOS (explaind here), use public transport with Translink card. Pay your rent with debit card instead of weekly money orders.

This method works best because you won’t get extra coins.

You only pay cash when there are no EFTPOS services available (happens in Chinese restaurants). And lower chances of money getting lost /accidentally dropped/ being mugged.

Plus, you can track how much you spend through bank transaction details. Rather than asking “Hmm, where’s all my money? I don’t remember spending that much”

Sounds familiar, doesn’t it? ;)