Student’s stipends vary depending on the learnership program, internships or job duties you will undertake. Stipends are designed to fund a student’s extra expenses such as food and travel.
These stipends help when a learner enters an unpaid internship. Stipends are available during the time of learnership. Stipends will be paid at exact date each month or nearest such date. With a stipend, learners do not have to borrow money while they study.
A disabled student can learn to budget their stipends now, then they will have an idea about what it is like living as a professional in day to day life. Ditch the expensive meals and share transport costs eg, carpools. Many students make the mistake of buying expensive luxuries instead of budgeting accordingly.
A student can survive if they are smart and tight handed with their stipends.
Here area few tips on managing stipends wisely:
- Avoid impulsive shopping
- Never go shopping on an empty stomach as you will buy more than you need
- Smoke? Cut down
- Live with others and split the rent
- Watch your data and airtime usage
- Make lunch instead buying lunch – it costs less to make your own
- Do not skip classes – you throwing away money and not creating a good impression for future employment.
- Drink water – its free and healthier for you, anyway.
- Save some of your disability grant in a money market or fixed savings account for rainy days.
- Never buy anything you cannot afford
- Be responsible and take control
- Keep record of all your spending. Keep all slips in a file and create a budget that suits your needs.