|
Email Rowdy Cents a money question or a money-saving tip.
About us.
What's on this site?
NEW!
NOW
Today's Feature!
High School Seniors, meet Rowdy Cents! (10-Steps about applying to UTSA and getting your money matters in order before you start college!)
home page updated 11/16/09 |
"Reaching a destination on this money journey means you need to save money and avoid money-wasters," advises Rowdy Cents.
Mid-term has come and gone but what about your mid-term money blues? Many things are piling up on you this time of the semester so it's pretty normal to feel overwhelmed. Running out of money is a scary thing but happens frequently to college students. Rowdy Cents has tips about the money-blues! (It's a PDF file. Go to the Stroll page and download the PDF reader for free.)
Money Savers for Everyone #1-23 (Especially for College Students, add #24-33)
- Bottle your own water. Buy a sports bottle and fill with tap water. The water from the water fountains on campus and in the restaurants is generally just as pure and tasty as what comes in the bottle. You’ll not only save money but save the environment as well.
- Save loose change. At the end of the day, empty your pockets/purse of all your change. Toss them into a clear glass jar. At the end of a week, count it and treat yourself or someone else. (Studies show that people who give gifts are happier.) Better yet, get a bigger glass jar and save more.
- Check out movies from the library. Be sure to check on what it takes to become a member. You can actually search the library catalog and place your selection on hold. Do remember to return it on time or you will pay a fee.
- Refrain from convenience store shopping. Prices are very high at the local stop-n-shop. You can buy that Sunday newspaper there and then clip the coupons to use at the grocery store. Better still, split a discount store membership with friends, buy in bulk and split the costs.
- Limit dining out. Dining out is big business in the US and may be the culprit that adds to an individual's weight and debt. If the average estimated cost of one's meal at a restaurant is $15 then cutting back to only a couple of times per week can save as much as $120 per month.
- Pack a lunch and carry it in your backpack or sack. Be sure to pack non-perishable items. Use leftovers from the prior night’s dinner or throw together a PBJ and some chips. Just make sure to either have a fridge at your using or pack a lunch that doesn’t need cold-keeping. You might even find that you’ll have extra time to work out at the Recreation center, take a walk, or rest before the next class or the job starts.
- Give the gift of time. Is there a birthday or special occasion coming soon? Estimate the dollar amount needed for a gift or dinner. Ask yourself, 1) do I have it in my budget? 2) If no, what can I cut out or cut back on in order to have the money I need for this? 3) If I can’t cut back, what can I do to still treat that person special with no cost? Your time is valuable – especially to your sweetie – and it’s free. For example, make a coupon to give him/her saying “one free day doing what you like to do”.
- Share books with friends. Borrow books from each other and return when done. Hold a book swap.
- Buy postage online. It saves gasoline, as well as wear and tear on car.
- Open a savings account. Check local institutions for balance maintenance fees. Establish direct deposit of any payroll checks and/or financial aid refunds. Once account is established (bank will tell you how long this takes) then you can cash checks against your account. This eliminates using high-cost check cashing and payday loan outlets.
- Do online banking and save postage and gasoline to the post office. Also, you can set up payments to your creditors so they get their on time, thus avoiding those costly late-payment fees.
- Send email greeting cards.
- Clip/print some coupons. Save coupons for the items you really use and not just because it looks like a good discount. Check the retailer’s web site for discount coupons. Search Google for coupons, too. Visit http://www.couponmom.com/ Look for the grocery store coupons in the store and online.
- Cook for yourself or your family frequently. Experiment with new recipes. Enjoy savoring smells and flavors of your own hand-made meal. Think $100 in groceries for two can last a week whereas the same $100 could be spent on two dinners for two at a favorite restaurant.
- Furnish an apartment through Craigslist.org, by garage-sale shopping, or by raiding your parents’ attic (be sure to ask first).
- Plan trips according to where your friends or family live. It’s always more interesting when exploring a new place with a friend or family member who lives there. Be sure to ask first before you show up on their doorstep! Be sure to give a gift to say thank you.
- Conserve gasoline by driving the speed limit rather than speeding. While you might reach your destination a few minutes faster, you will spend more in gasoline doing it. Also, the cost of a speeding ticket is pricey these days – usually $100 or more – and it may raise your auto insurance rate, too.
- Take care of your clothes according to the manufacturer’s instructions. Washing or drying items incorrectly may ruin the color or shrink the fabric, causing you to toss them way too soon. Mending rather than replacing the items will extend your pocketbook, too. Try swapping clothes with friends. Old duds may look new on you!
- Air dry clothes rather than use a dryer. Most coin-operated dryers cost $1.00 for a 30-minute spin. Hang up the clothes that would likely dry in a reasonable amount of time (1-2 hours). Dry the rest in the dryer.
- Shop for “new” clothes at the neighborhood Goodwill Store. If you are label-conscious, you can get some really good brand clothes, slightly used, for so much less.
- Shop department store sales. For goodness sakes, don’t ever pay full retail price for any piece of clothing. There’s always a sale somewhere!
- Buy in bulk and split among friends. UTSA is close to CostCo; assemble some friends and shop as a group. One person will need to be a member though and currently it is a $50 annual fee.
- Stop smoking. Take the $40 that you spent for a carton of cigarettes and put it in a savings account. (This can also apply to other habits that you have that cost moneyJ.)
- Check out movies from the UTSA library. You can also go to your local branch library and check out DVDs. Be sure to check on what it takes to become a member. You can actually search the library catalog and place your selection on hold. Do remember to return it on time or you will pay a fee.
- Share rides. If you have the opportunity to move, live close to the school campus. Walking saves gasoline, the environment, and helps to firm those thighs and shed pounds. If it’s a bit too far for walking, take the campus shuttles or the VIA bus.
- Consider bicycling to campus, if you're close enough to campus and you feel safe enough. You can avoid parking waits, fees, and fines and get much closer to your classes.
- Buy used textbooks for school. Shop around to see if the required textbook has been in circulation and bookstores have used books for sale. Check online retailers such as Amazon, eBay, half, and Barnes and Noble, retail store and online outlet, for competitive prices on new textbooks. Consider renting a textbook that you don’t intend to keep for reference or for building a library on your major from outlets like Chegg and CollegeBookRenter (Always, always compare prices, terms, and conditions!) Check with your friends who may have taken the course and have the book to sell, swap, or borrow.
- Save your textbook and course materials receipts for a 2009 tax credit. Under the American Recovery and Reinvestment Act's (ARRA) newly created American Opportunity Tax Credit, textbook and other course material expenses – along with tuition and fees incurred in 2009 and 2010 not covered by scholarships or grants – may be claimed as a tax credit on that year's tax return! You must keep a record of your expenses to be eligible!! For more information, go to www.textbookaid.org .
- Ask for a student discount. No matter where you shop, where you eat, or where you go for entertainment, always ask if the vendor gives a discount with a student ID card.
- Buy a USB stick instead of a laptop computer. Use the school computers but save your work on the USB stick. Use the school’s printers (check if there’s a printing fee). Most computer labs stay open late hours during the semesters and the school library typically has computers. Being in the library gives you a quiet place to study, too.
- Sign up for direct deposit of financial aid funds. It’s a positive reason for having a bank account. If you don’t have a bank account and need to cash the check, you might be forced to use a check-cashing outlet. (UTSA Fiscal Services office does not cash checks, even ones from UTSA.) These outlets can charge fees that are equal to as much as 400% APR (Annual Precentage Rate). For more about check-cashing and pay-day lenders, go to March.
- Apply early for financial aid. The government starts accepting the FAFSA as early as January 1 for the academic year starting the next fall. Even if you don’t think you would qualify, file the application. There are state and institution-based grants that are not need-based; however, they are awarded on a first-come, first-served basis according to the date the FAFSA is filed.
- As a UTSA student, put money (Rowdy Dollars) onto your Roadrunner ID Card. This card can be used on the UTSA campuses to purchase food and campus retail items (in some of the copiers and snack machines, too). Using your budget/spending plan, take an amount you have budgeted to spend in a month on these types of items and add it to your card account. (Adjust the amount if you start this in the middle of the semester.) Remember to track your campus spending “in sync” with your budget.
AVOID these money-wasters (PDF) for UTSA students.
Rowdy is waiting for you to send more money-saving tips.....moneymatters@utsa.edu
PAGE UPDATED 11/16/09
|
