Students should invest their allowance

Correspondent | Friday August 4, 2017 13:43

 

Not every student regard it the same as to some complain that it is never enough to cover their daily costs and  insists that it should be  increased.

To some extent if the allowance is not credited at the expected time, students tend to say “ba gana go tobetsa enter” which is to imply that money has not been credited into their accounts yet.

The main question could be, why do some students complain if allowance is not credited? Different reasons emerge when it comes to this point; they may either be valid on invalid based on each student’s perspective towards the monthly allowance.

There are different cases where students squander the rest of the allowance to an extent where they end up begging for money from people, involving themselves into debts that are uncalled for. The issue may be how this type of students use their allowances to an extent where they end up with no finances left for them.

On the other hand, different students come from different family backgrounds. Some are from lower, middle, or upper class and also some from very unprivileged and unstable families.

This could also determine how a student will make sure they spend their allowance cautiously. Others spend on unethical things instead of better things and some are forced to take care of their daily needs which may include rent, food, transport and family.

However, considerately not all students can think wisely on spending their allowance due to the fact that they were never inspired or motivated on how they can use their allowance. Not every student gets the privilege to know budgeting and financial planning skills. Therefore, the government could ascertain that each student is enlightened on financial/allowance management before being enrolled into any tertiary institution and prior to them receiving their allowance.  Financial planning and management is very necessary for every student qualifying for allowance. Either way different policies could be formed based on how students could save and spend their money.

These policies could be imposed to every student to help them commit themselves to saving and investing. Investment policies could allow a students invest part of their allowances until they complete school.  These investments could benefit in the future after graduation and can even be used  for business startups. Amendments could be made and different policies can be formed. Kutlo Moeletsi