By Asst. Prof. Dr. Benjalux Sakunasingha
Managing your allowance wisely is one of the first real-life skills that helps you build independence, confidence, and resilience for the future. Budgeting is not just about saving money—it’s about developing habits that help you make thoughtful decisions, handle unexpected expenses, and prepare for greater financial independence in the future.
Here are 5 simple budgeting tips to help you manage money with confidence:
Start by Tracking Your Spending: Before setting a budget, it helps to know where your money actually goes. Awareness is the first step toward better decisions. Try tracking your spending for at least one week—you might be surprised.
Example: You may notice that small daily expenses like coffee, snacks, or food delivery add up faster than expected.Know Your “Needs” vs. “Wants”: Budgeting does not mean cutting out all the fun. It’s about knowing what you need to pay for first and what can wait.
Example: Transportation and regular meals are needs. Extra drinks, late-night snacks, socializing at fancy places, or impulse online shopping are wants.Use a Weekly Budget Instead of a Monthly One: Breaking your allowance into weekly amounts makes budgeting easier and helps you avoid spending too much too early.
Example: If you receive 4,000 THB per month, aiming for about 1,000 THB per week can help you stay balanced.Pay Yourself First (Save Before You Spend): Try to save a little as soon as you receive your allowance—even a small amount can make a difference over time, and you will thank yourself for it.
Example: Setting aside 50–100 THB each day (or 250-500 THB each week) can help cover unexpected expenses like printing costs or group project materials.Check Your Budget and Adjust—No One Is Perfect: Budgeting isn’t about being strict all the time. It’s okay to adjust when things change.
Example: If you spend more one week due to a club activity or special event, you can plan to spend less the following week.
The budgeting habits you build today shape the confident financial decisions you’ll make tomorrow. Start small, don’t stress about being perfect, and keep going—these simple habits will support you throughout university and well beyond graduation.
About the Author
Asst. Prof. Dr. Benjalux Sakunasingha is a faculty member of the Business Administration Division whose work has contributed to the development of Thai business education, supported financial literacy initiatives, and promoted sustainability practices within both academic and professional settings.
