It is common for students to live on a budget, but that doesn’t mean you can’t enjoy your time at university. The trick is to learn how to take control of your budget and not let your budget control you. Knowing how to manage your finances wisely and not land yourself in a cycle of debt is all part of ‘adulting’.
Budgeting
A budget is a financial plan to record down your estimated income and expenses. Below are the expenses you need to take into consideration when you prepare your budget.
Cost of Living
Item | Estimated Cost (RM) |
Deposit for rental | RM1500 |
Monthly rental | From RM500 |
Telephone and internet connection | From RM99 |
Water and electricity | Usually included in the rental |
Food | Around RM7 to RM15 per meal |
Groceries | From RM30 |
Entertainment (movies, concert etc…) | From RM12 |
Air ticket | Visit AirAsia or Malaysia Airlines for the latest fares |
Bus, Light Rail Transit | Visit MYrapid for the latest fares |
Other Additional Costs
Item | Estimated Cost (RM) |
Unexpected costs | Accidents or Illnesses |
Lifestyle choices | Entertainment and luxury items and lifestyle |
To have a healthy financial standing, make sure your budgeted expenses stay within your budgeted income.