Managing money as a student can be challenging. Between daily expenses, and social activities, it’s easy to run out of funds before the month ends. Learning how to budget, use prepaid cards wisely, and save effectively can help students gain financial independence and build healthy money habits for the future.

✅ Step 1: Create a student budget

A budget helps students track their income and expenses to ensure they don’t overspend.

✅ Income Sources: Include allowances, scholarships, part-time jobs, and side hustles.
✅ Variable Expenses: Food, social outings, shopping, and entertainment.
✅ Savings & Emergency Fund: Set aside a portion for unexpected expenses.

💳 Step 2: Use prepaid cards for smart spending

A prepaid card is a great way for students to manage expenses without the risk of overspending.

✅ No Risk of Debt: Unlike credit cards, prepaid cards only let you spend what’s loaded onto them.
✅ Safe for Online & In-Store Payments: Helps students pay securely for books, subscriptions, and groceries.
✅ Parent-Friendly: Parents can load money onto a student’s prepaid card for controlled spending.

📌 Example: If a student receives a monthly allowance of Rs. 4,000, a prepaid card can be loaded with Rs. 2,000 for essential expenses and Rs. 2,000 for discretionary spending.

💰 Step 3: Build a habit of saving

Even as a student, saving a small amount consistently can make a big difference over time.

🔹 Ask your parents to set up a MCB Rupys accounts for your savings.
🔹 Automate savings with MCB’s standing order feature.

📌 Example: If a student sets aside Rs. 500 per month, they’ll save Rs. 6,000 in a year without much effort.

📈 Step 4: Find ways to earn extra income

Earning extra income as a student can ease financial stress and build work experience.

✅ Freelancing: Develop and offer your skills. AI can help you achieve wonders!
✅ Selling Unused Items: Sell old textbooks, clothes, or gadgets online.

📌 Example: A student earning Rs. 5,000 per month from part-time work can save half for emergencies and use the rest for personal expenses.

📌 Takeaways: Smart money management for students

✔ Create a student budget to track income and expenses.
✔ Use prepaid cards like MCB Rupys to manage spending wisely.
✔ Start saving early—even small amounts add up over time.
✔ Look for extra income sources to support financial independence.

Ask your parents to open an MCB Rupys Account for you! It comes with a prepaid card and cool features to help you budget and learn about money. 👉 Get started now.