I have good news and bad news, high school class of 2009 heading off to universities and colleges (and to anyone else enrolling or re-enrolling in higher education this fall). First, the good news- college is fun (but you should already know that)! Now, the bad news- it costs way too much (I hope you knew that). But you get what you put in it…and I found a few ways to put in a lot fewer dollar bills.
At the end of last school year, I gave a couple of presentations at my old high school (South Sioux City High represent) in the Economics classes about how to finance college and then make it through as debt-free (read between the lines: cheap) as possible. I offered tips and wacky stories from my experience as a collegiate and threw around numbers of what makes up actual college tuition costs, shared ways on how to cut corners economically, and preached how to hustle up and pay off student loans in no time.
Now it’s your turn- general public- to learn a few of my frugal secrets for succeeding in college. Some quick samples are below. But I have a whole three-part DVD seminar available for two easy payments of $29.99 on the subject if you really want more insight. I’ll even throw in a free ShamWow if you order now. (Maybe I’m just kidding for now, but you can money anyway…and I WILL produce those sessions and an infomercial!)
Without further ado—a bunch of actual and important tips:
-Buy Used Books. A) They are cheaper. B) They may already have the important stuff highlighted with notes in the margins…less reading for you!
-Always have cash or a debit card on you at all times. Never get a credit card no matter how many freebies the bank’s reps have at their booth during welcome week. Snatch the free cookies, pens, and balloons then skedaddle. I’m convinced credit cards are incarnated evil. Plus you can still build up your credit score by paying your bills (cell phone, cable, electricity) online by linking them to your debit card or bank account’s routing number.
-You won’t have cable, water, or power bills to pay when you live on-campus. So, do that! Sure room and board might cost more than renting an apartment and paying your own utilities, but the experience is priceless. You meet way more people and can partake in all the campus clubs and activities without even leaving. Plus, during the winter—no need to warm up your car while scraping the windshields.
-Embrace store brands. You’ll instantly get to know and love HyVee’s Midwest Country Fair and WalMart’s Great Value brands.
-Don’t think refund checks are “free money”. Schools offer checks once a semester if their financial aid gurus over estimated the amount you needed to take out in a loan. So, they billed you for this amount, and then gave it back to you. I advise you re-invest it in next year’s loans…don’t blow it on a party that Friday night.
-Take advantage of work-study and get an on-campus job and take benefit from the perks. You work at the bookstore: get first dibs on ‘damaged’ goods like clothes at cheap to free prices. You got a job at the cafeteria or coffee house: free food…I mean someone has to do quality control, right? You work in the mailroom: free subscription to whatever magazine anyone on campus orders…read then deliver. How about the library: get paid to do your homework.
-Don’t lend any of your movie collection to friends other than your roommate. You’ll never see those DVDs (or cassettes!) ever again. The same goes for dishes, CDs, etc. I have the ‘roommate exception’ because you know where they sleep!
-Carpool. As corny as it is, wait ‘til your shopping list grows or your roommate or friends down the hall needs to run errands, too. Plus, late night adventures running up and down WalMart aisles are always way more fun with a gang of people.
-And finally, as you soon as see the light at the end of the college tunnel and score your first job after graduation, don’t blow your first real paychecks on a fancy new car…pay off your student loans!!! That $50,000 investment will follow you around forever if you don’t tackle it right away. Invest seemingly compounds continuously on some of those things as soon as you step on that stage and grab your diploma.
In addition, check out this link: 118 Ways to Save Money in College. This site was my inspiration to compile my own list, plus I co-sign on quite a few of their suggestions, too.
You have any unique tips? Shoot me a line in the comments or at chrisderoin@gmail.com.
PeAcE,
C. DeRoin.
