I am guilty of spending carelessly for a long time! In 2018, as New Year resolution, I promised myself to be mindful of my spending habits. I started reading books and blogs about financial intelligence. I didn’t know back then that I am going to learn that more during my Atlas fellowship and will get the opportunity to practice it well.

The Financial Intelligence Factor is state of mind that comes from being a certain way, and while on the stipend, spending in certain ways. : )

Financial intelligence can help you to learn the mentality of success and failure; how to identify limiting beliefs that could be sabotaging your money earning potential, and guidelines for designing your financial life in ways that will focus and direct you towards your primary wealth creation goals. Moreover, the mind map breaks down some simple financial knowledge and strategies that will help you build long-term wealth while pinpointing the strategies that Jamie uses every single day to earn an extraordinary amount of money. Being on a limited stipend is actually a good opportunity to learn to be a good money manager.

I will highly recommend reading this article: https://blog.iqmatrix.com/financially-intelligent?fbclid=IwAR3Qm_m_VHmca18kzkfYnEw7czV2Skl02er8XUq63UKLtKoPSBZ7tSGhPZo

I simply loved this article and it helped me learn about financial intelligence in general and I got some ideas from there that helped me to be mindful of my day to day expenses as well. Here I am going to share some of the tips (only about spending) that I believe can help you while on stipend (or on the budget later in life):

  1. Breakdown your budget and stick to that

Breakdown your budget, write down the expenses overhead on a sheet and put a number next to each overhead. And then stick to that number.

  1. Learn how to eat well on a budget

Simply read this blog : )


  1. Join meetup groups

They often host free events where you can mingle and have a blast! You can go to MeetUp.com and browse any activity that you like! I also did a very simple google search of “Free Events in Chicago” and turned up a treasure trove of fun things like group picnics in the park, 5K runs without a sign-up fee and amazing book clubs. You can still enjoy your surroundings without spending a penny!

  1. Focus on accessorizing rather than buying new outfits: You’d be amazed what a brightly-hued scarf can do for a basic t-shirt and skirt.
  2. Buy whatever vegetables are on sale: Take time to find out which store is cheaper. Spending a couple of hours one day to compare different grocery stores in your area will result in big savings immediately.
  3. Go to Asian grocery stores for cheap spices and produce. I was surprised that western store was charging almost 200% on the spies and produce comparatively to Asian grocery stores.