Being a student leader is an exhilarating experience! Your peers have chosen you to represent them and find solutions to their problems. This not just makes you a role model for many and puts you in a position of power, but also brings with it a lot of duties and responsibilities.
And, what if your responsibilities include fundraising and handling money? Andrea Mendoza, a student leader from Manila’s De La Salle University, says that the two major problems she has to deal with are keeping track of all the money she collects and separating it from her own money.
“I handle a lot of off-campus activities (like tree planting events), trips (like animal shelter visits, med school tours etc.) and fundraising for advocacies,” says Andrea. “So there is a large and busy inflow of cash in terms of participation fees, transportation costs, donations and so on. Also, most of these transactions are made in the university hallways, and sometimes, I end up using my own money to give change or make temporary payments, which makes it even more difficult to sort and manage the money!”
Most of these transactions are made in the university hallways, and sometimes, I end up using my own money to give change or make temporary payments, which makes it even more difficult to sort and manage the money!”
Wallet to the rescue
Andrea started using Wallet in 2015 when she moved to the city to go to university. “I wanted to watch how much I spend on groceries, utilities, stationery and fun,” she says. So it was only natural that she turned to Wallet to simplify her finances.
She uses it to track all her transactions and use Labels to separate different events and projects. “I really like the fact that there are pre-populated categories on Wallet,” she says. Even though she uses Labels and categories to sort and group her transactions, she also likes to use Notes in every transaction, to jot down little details that she needs to look at later. When she makes payments out of her own pocket, she uses the Transfer and Debt features to keep track of them.
“Wallet really helps me note everything down on the go,” says Andrea, adding that she uses it as the base for her official financial reports.
Learning about money
Wallet has helped her learn more about nor just her own money, but also about personal finance in general, says Andrea. “The design, colours and layout help a lot in using the app to its fullest,” she says. “It’s not annoying or garish. Wallet also provides a lot of content within the app and on social media, which I like to read.”
Her favorite feature on Wallet is definitely, Charts! “Of course, it tells me that I spend 90% of my money on food!” she laughs. However, the biggest lesson she has learned using Wallet is that if you don’t track your spending, it will surely burn a hole through your budget. Watch and track where your money goes, else it will be all gone before you know it!
Over to you
Has Wallet changed your spending habits?
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