Hostel life is a combination of emotions that comes with so many changes – making a list of essentials, packing the bags, leaving our parents, and carrying a load of snacks that we often think is sufficient for a year. It is that part of our life that teaches and prepares us to live as an independent adult. Among this preparation, the most important lesson is learning to manage our expenses.

Learning how to control spending is a gradual process. At first, we may not even be aware of how much we are spending daily, until an emergency comes, and our pockets become empty. Everyone goes through this process and is totally fine. It is only with the occurrence of such situations will we learn to keep our spending in check. Here are some things we can do to avoid overspending in this newly acquired independent life.

• Calculate an amount to spend be in a month: though it may sound silly, it is like the ‘divide and rule’ policy. Before we set aside our pocket money, we should have a rough idea of how much we are to spend.
• Write down what is spend; noting down expenses, especially if it’s a large sum, can help us to self-reflect later and give an insight of how much of a high roller we are.
• Keep the change for our piggybank: save the tens we get in a different wallet so that it can be used whenever its needed.
  Talk to parents about expenses: it may seem childish, but not only does it help build trust between us and our parents, but it also makes us confident of our abilities.
• Keep an amount aside for a cheat day: yes, a day to enjoy outside food or buy some snacks for that self-indulgence.
• Always have an eye on the bank account: advanced payment methods allow us to easily transact online. We often forget how much we purchase. Noting down transactions and the balance will help keep us on our toes.
  

Finally, always give it a thought before we open our wallet – “is it actually needed”, or could we manage without it. Be aware of our priorities so that we are not put into a tight spot later.

As Shakespeare quoted, “All the world's a stage,” hostel is one of those platforms where we experience drastic changes and mould ourselves into a mature and responsible adult. We arm ourselves for the challenges we face during the most influential time in our life, allowing ourselves to adapt to any circumstances in the future. Cherish the late-night talks, last-minute preparations, and the joy of living together now, so that we can relive the nostalgia later.