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Likes(339) Views(817) 14 Mar, 2018

By: Sumit Kujur

Student Expenses

Not many days ago, I got promoted as the chartered accountant of my own company in student’s market/economy. I started with going through my own accounts and it was a revelation. Let me take you through a student’s expense here in Rajagiri.

To begin with, I want you to know that men are not born free and cannot live free. To eat, we must cook or serve; to drink, we must fetch and boil. Similarly, for the students, in order to learn we have to spend and in order to spend we have to earn or learn.

I want you to go through this calculation of a student’s daily expense and see if it matches with that of yours.

Daily goods consumed

Price of the goods (Rs.)

Duration of use

Amount of goods spent in a day (in Rs)

Colgate

80+

2 months

2

Hair Oil

100+

3 months

2

Face wash

300+

3 months

2

Soap

40

1 month

1

Cherry

40

1 month

1-2

Laundry

200

1month

30

Hostel fee

73000

10 months

-

Perfume

500

3 months

3

Top up/ Recharge

10

1 day

30

College Adm./ fees

530000

2 years

700

 

Summing up all our daily expenses, it is Rs1000/per day (minimum). The question to be asked is, from where does that money came from? Was it blown to you by the winds? Or did it fall from the sky?

Ladies and gentleman, it is from our parent’s pain under the scorching sun and the coldness of the rain, and it came from the stressful office work or life staking duty, if they are in an army. By spending that much of money per day as a student, how much do we earn and learn in a day?

You wake up in the morning, wash up, eat, dress up and go to class, spending the whole day on the college campus and going back home when the final bell rang.  Is this worth spending Rs.1000/- per day? Calculating the additional payment of transportation, canteen expenditure with friends, our daily expenditure goes up to a considerable amount. We spend much more of our money than what’s actually needed as a student. What do we learn in return  while staying here in RCBS?

To put it in economic explanation, applying Say’s law of Supply, “Supply creates its own demand”. So, in every supply we made to ourselves (consumption or spending) there is always the demand or things we must do or learn. When the demand equals supply, there is equilibrium. In other words, when the money we spend in a day equates to the learning we make in a day, there can be equilibrium or the so-called success.

Therefore, let’s try to think and calculate our expenses and ask ourselves, “Is it really worth spending all these?” and even more  "how can I make my stay here worth the money I spend". If our expense exceeds our learning, let’s try to reduce it to the least possible and start stretching our hands towards getting skills and knowledge rather than just spending.

To conclude with, we must all know who we are? How much we spend? How much we earn? And let’s try to make the most out of it!

 

"Don't tell me what you value, show me your budget and I'll tell you what you value" - Joe Biden

 

 

 

 

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