Archive for the ‘Saving Money’ Category:
How to Not Suck at Buying College Textbooks
It’s back to school time and that means one thing for college students: buying text books. Where you choose to make your purchases will have a huge impact on how much you spend. Here’s how to save some green.
First off, AVOID your campus bookstore. Only go there if you want to THROW AWAY your money. Prices will be ridiculously high! Avoid this like the plague.
Instead, we’re going to look online for some sweet deals. There are dozens of online bookstores. Most of them, if not all, should be cheaper than your campus bookstore.
To show the price differences, I’ll be using a personal finance book I need for fall quarter. It’s simply called “Personal Finance” with an ISBN of 9780073382326. Directly below is how much my college is charging:
$180? $140? NO THANKS!
Next, I head to Amazon and search for that ISBN. Below is what I get:
I still think even the used prices are a bit high, so it’s on to eBay:
Evidently, this is the international version, even though the content is the same. This version is also a hardback, just like what my campus is selling. But maybe a paperback version is available…Back to Amazon:
Now I’ve found a paperback version of the same book for a fraction of the campus bookstore price. I look over what the seller has to say about the book’s condition and decide to purchase. Easy huh?
Personal preference will of course play a part in how you buy your books. I don’t mind having used books, as long as they aren’t missing pages or extremely worn out. You can also look into renting your books from a place like Chegg. I’m not a big fan of renting books, but I may check it out one of these days.
The main thing to remember is DO NOT GO TO YOUR CAMPUS BOOKSTORE.
Tips to Save Money and Time On a Road Trip
Last week, I took a small vacation with some friends to Cedar Point and Marble Lake in Michigan. The trip required driving almost 700 miles and as you can guess, road trips can get pretty expensive if you don’t plan ahead. Here are some ways to make a trip as cheap as possible while still having a good time.
Split gas - This is a no brainer, but make sure everyone in the group is cool with splitting the cost of gasoline. You don’t want to volunteer to drive and have your friends assume you’re also okay with paying for all of the fuel. Many cars will even keep track of how many gallons you use, so calculating everyone’s share is easy.
Avoid fast food - Fast food is convenient and usually tastes good, but isn’t all that cheap. Instead, pack a cooler with plenty of beverages and snacks. Lunch meat and bread will allow you to completely avoid fast food.
Limit stops – Avoid stopping unless you really need to. Every break at a rest area will tempt you to spend money – usually on junk food from vending machines. Gas usage will also increase if you’re constantly getting on and off the highway.
Consider getting a GPS unit- GPS makes long distance driving so much easier. These days, any basic unit will have plenty of features for most people. No more trying to read a map while driving or hoping you don’t miss an exit. At the end of the trip, just tap “Go Home” and you know you’re on the (correct) way.
Use your connections - To really drive down the cost of traveling, see if you have a family member or friend who will let you stay with them for free. This won’t work in all situations, but when it does, you’ll save a ton.
Plan, but not too much – My friends and I planned our trip pretty well, but not everything was perfect. We knew that pop would be way more expensive in Michigan, so we bought some in Ohio. But we underestimated how much gas we would use for the trip. Life goes on.
Free Amazon Prime if You Have a .Edu Email Address
Amazon
Except if you’re a student!
Amazon is giving those of us with a .edu email address a free Prime membership for a year. All you have to do is head over to Amazon’s Student Portal
As far as I know, Amazon doesn’t launch any type of actual investigation to really make sure you’re a student. So if you get your hands on an .edu account through other means, you could theoretically take advantage of this deal. But I’m almost positive it’s bad karma.
Alumni addresses aren’t eligible so any seniors who recently graduated and haven’t had their email convert yet will want to jump on this.
7 Phone Numbers that Can Save You Time and Money
Today, I’m gonna hit you with some knowledge about the 7 numbers you need in your cellphone. Having these numbers handy can easily save you some time and money.
1.
Your Bank – Great to have so you can transfer money, talk to a customer service rep, or alert them that you’ve lost your checkbook.
Bank of America – 1-877-231-9372
Chase – 1-800-935-9935
ING Direct – 1-888-464-0727 (Support) 1-888-464-7868 (Interactive)
Wells Fargo – 1-800-869-3557
Citi – 1-800-627-3999
2.
Your Credit Card Company
Having the 1-800 number on the back of the card is great, except for when your wallet or purse is stolen. Have these numbers on hand so you can cancel any missing cards as soon as possible.
VISA – 1-800-847-2911
Mastercard – 1-800-MASTERCARD (1-800-627-8372)
Discover – 1-800-DISCOVER (1-800-347-2683)
American Express – 1-800-528-4800
3. GOOG 411
Need to find a local business? Use Google’s free 411 service.
GOOG 411: 1-800-GOOG-411 (1-800-466-4411)
Need residential look up?
Try 1-800-FREE-411 for landlines
4. Major Airlines
Delta – 1-800-221-1212
United – 1-800-United-1 (1-800-864-8331)
Jet Blue – 1-800-JETBLUE (1-800-538-2583)
Southwest – 1-800-I-FLY-SWA (1-800-435-9792)
Continental – 1-800-523-FARE (1-800-523-3273)
5. Your Primary Doctor
– You never know when you’ll need to make an appointment and the last thing you want to do when sick is search for a phone number. It’s also a good idea to input the office address – it’ll come in handy when filling out forms for school or work.
6. A “I’m Drunk: Please-Come-Get-Me” Contact
– Sometimes things get out of control and you find yourself without a safe way home. This person should be easily reachable, and of course, willing to come get you. Parents will work, but a close friend or relative might be a better solution.
7.
A “IF LOST, CALL THIS NUMBER” Number
*Thousands of phones are lost everyday. Remember to put a number you or a close friend/relative can be reached at so a kind soul can return your device.
*I just made that up.
Bonus:
To help keep you within your cell plan’s limits, dial the following and a free text message will be sent to your handset telling you how many minutes you have left for the billing cycle.
AT&T – *646#
Verizon – #646
Sprint – *4
T-Mobile – #646#
5 Methods to Fight Your Latte Factor
As I mentioned last week, I’ve increased my spending on things I don’t really value – mainly food from Speedway and Tim Horton’s. These types of purchases show the latte factor in action. The latte factor is the effect that small, insignificant purchases have on your finances. They don’t actually have to be lattes, but that’s a term many people can identify with.
These small expenses of course add up over time. $3 for coffee every day during the work week is $15. Every month, that’s $60 down the drain – or more accurately, the throat. This isn’t to say that you shouldn’t spend money on coffee (or whatever your “latte” is), but you have to ask yourself if you’re really getting the value out of it that you think you are. You might find that you honestly do want to keep that expense in your life because you vaelue it. For me, I decided that I’d rather work on getting my emergency fund where I want it and saving up for something I really want to do – travel. Below are some ways you can “fight” your latte factor if you decide it’s not an expense you want in your life.
1 – Simple Self Control
As you drive past the coffee house or wherever, don’t pull in. This is painfully obvious, but it’s clearly not easy to follow. Otherwise, people wouldn’t be pissing away large amounts of money when they have huge credit card balances and student loan payments. You have to fight the urge of “I can afford it, so I should buy it”.
2 – Change the Route
Consider taking a different way to work or school every day. Try to avoid driving near your latte factor’s location. Don’t drive too far out of your way of course – you may end up spending more in gas (and frustration) than you would by just buying your latte!
3 – Reduce, Don’t Eliminate
If the thought of never (or rarely) making your purchase seems a bit too much like deprivation, consider reducing your spending. Instead of everyday, maybe you get coffee once a week. You’ll save money, but still have a special day every week.
4 – Give Every Cent a Purpose
Make a monthly budget and account for every cent that will be spent. Don’t allocate any money for your latte. Perhaps you increase your Roth IRA contribution or save up for that killer vacation you’ve always wanted to take. If you do this, then you won’t feel like you’re missing out on anything. You’re simply spending your money the way you said you would.
5 – Take Advantage of What You Already Have
Most of you reading this own a coffee maker. Make sure it gets used. Homemade coffee will be cheaper than Starbucks. Way cheaper. Bring your own snack, like a bag of chips, to work instead of hitting the vending machine for that mid-afternoon candy bar.
Final note: I’m really not against buying something if you really want it and value it. Everyone spends money differently and there’s no single “right way” to control spending.
Getting the Most Out of Scholarships
Besides savings, the best way to finance college is through scholarships.
Scholarships don’t have to be repaid and are essentially free money, minus the time you spend to fill out the application. With scholarships, you can avoid becoming a slave to students loans or pursing questionable activities like selling drugs. I’m not judging though.
But as with all things in life where money is concerned, scholarships aren’t always straight forward and scams are definitely a possibility. Check out the following tips to receive as much money as possible without being conned.
1. You should not have to pay any sort of fee to apply for a scholarship. If a website or organization wants your money before you even get an application, run away.
2. Your first stop should be your high school’s guidance office. There they should have applications and information on a ton of opportunities. If your guidance office isn’t quite up to par, don’t be afraid to hit up other nearby schools. If that idea scares you, remember that every dollar you earn before college is one less dollar you have pay back…with interest.
3. Don’t count yourself out if you aren’t the world’s greatest student. Some scholarships actually exclude those with high grade point averages. There are people and organizations out there who want to help the “average” student succeed too.
4. Along the same lines as the previous tip, don’t worry if you’re just average when it comes to things like family situation, family income, and diversity. I’m a white male with middle class divorced parents so I’m not exactly the poster child for uniqueness, but there are plenty of scholarships that don’t require you to be Hispanic or in poverty.
5. Stop thinking scholarship and start thinking scholarships. I’ve heard classmates say “Yeah, I need to apply for a scholarship to pay for college.” No, you need to apply for many, many scholarships. And then you need to apply for a few more. The majority of aid is $500 here, $2000 there so just one is not going to put much of a dent in how much you owe.
6. Fill out the FAFSA. This isn’t really a specific scholarship tip, but the Free Application for Federal Student Aid is a must. You can’t possibly know what assistance you may or may not get if you don’t complete the application.
Exploring AP Classes: Cutting the Cost of College
Without a doubt, college is expensive. And finding ways to cut the cost can be difficult. But one option (probably) exists in your high school.
Called Advanced Placement courses, these are college level classes you take while in high school. At the end of the year, you have the option to take an exam that can earn you college credit.
How are These Classes Different than A Regular Class?
AP classes are without a doubt, harder than regular classes. That’s not to say they are impossible, but you will be required to complete more work. Not only is the work more challenging, but grading is usually harsher. The bare minimum will not get you an A. My personal opinion is that AP classes typically work like normal classes should. That is, only a few students will get an A, while most will receive a B or C. After all, an A should only be given for exceptional work, not average.
Many schools will weight your grade in an AP course. What does this mean? It means that your grade in an AP class is worth more than the same grade in a lower level class. For example, my high school weights AP classes by one GPA point. This means that a B is actually recorded on my transcript as an A. This also means that an A equals a 5.0 on a 4.0 GPA scale.
The exam at the end of the year is pretty grueling. I’d say it sucked more energy out of me than the ACT. Also, this exam costs $86.00 (as of 2009). While this seems like a lot of money just to take a test, realize that college tuition is MUCH higher. My community college charges $80.00 per credit hour. Considering that an AP Exam can earn you multiple hours of credit at many universities, the cost of an AP Exam is actually a deal.
Should I Take AP Classes?
Since AP courses do suck up a lot of time require actual work, consider them carefully. Talk to your teachers and guidance counselor to see if they think you’d excel in these types of classes. Many schools have GPA requirements before they will enroll you.
Ask yourself if you honestly want to be challenged. Ask yourself if you’re actually interested in whatever subject you’re considering. For me, I liked the idea of staying up until 1am to finish a paper (I didn’t do this often!). And I was OK with working hard in order to get a head start on some college classes. If these things don’t sound like a good time to you, don’t enroll in an AP course. I also tried to be practical and I was confident that I would do well on the exam. For me, a few sacrifices in high school were worth it if it meant I wouldn’t have to take an introductory course down the road.
To get a feel for what AP classes are like, check out the College Board’s official site. They have example test questions and explain what each course’s curriculum looks like.
Take home message – If you’re looking to be challenged and also want a chance to earn some college credits, strongly consider AP courses. But remember, straight A’s in regular or advanced classes will look better than F’s in an AP class on your transcript.
Have You Filled Out the FAFSA Yet?!?
Well? Have you?
No?
Come on, get moving!
Seriously, the FAFSA for the 2010-2011 school year has been available for 45 days! This one form has the potential to save you thousands on college expenses. Do not pass it up!
The reason it’s so important to fill it out ASAP is because aid is distributed first come, first serve. Some schools have deadlines of February 15th (TODAY!), so you need to get it filled out.
The form is available here. You and your parent(s) also need to apply for a PIN here. If your parents haven’t gotten their taxes back yet, don’t worry. Just use their last tax return and then remember to update the numbers when they get their current tax return back.
For tips and help on how to fill it out correctly, check out my article “6 Tips for Filling out the FAFSA”
6 Tips for Filling Out the FAFSA
The Free Application for Federal Student Aid is your gateway to college funds. The federal government has all kinds of grants to give you and low interest loans to help pay for college. But you have to fill out a form. A lot of people find this process very confusing or don’t do it all. Don’t worry! It’s easy and can save you a bundle.
1. Apply as early as possible. As they say, the early bird gets the worm. Aid is handed out to those who apply first, so don’t wait until the deadline to hit submit.
2. Use last year’s taxes. Don’t worry if you parents have not gotten their tax returns back yet. You don’t need them, especially if their income hasn’t changed much in the last year. Use returns from the previous year. Then, update the information when current taxes are done. The form even has a selection for “My parent will fill out taxes later”. Take advantage of it.
3. Look needy, even if you aren’t. The FAFSA is clear that you only have to report your financial information as it “appears on the day you hit submit”. If you can, see if you can have your grandparents or another family member you trust hang onto some of your money so you don’t have to report it.
4. Don’t include everything! There are some assets you and your parents don’t have to report. Things like retirement accounts, 401ks, and the value of the home you live in do not count. Don’t accidentally enter in their values.
5. Double check your work. While the online forms will tell you if something looks off, it never hurts to read over all of the numbers you’ve inputted. An extra zero could really mess up your student aid report.
6. Don’t forget to update. If you use your parents’ tax returns from last year like you should, you need to update the information once they get updated information. Ask them to meet with their accountant quickly or encourage them to use something like TurboTax
How I’m Receiving 30 Hours of College Credit For 15 Dollars
As usual, college tuition rates are rising. According to the College Board
…most students and their families can expect to pay, on average, from $172 to $1,096 more than last year for this year’s tuition and fees, depending on the type of college…
One of the best ways to offset the cost of college is simple: reduce the time you spend there.
Something called PSEO lets you do just that. It stands for Post Secondary Education Option. What you do is simple: take college classes at your local community college or even a nearby university during high school…for free.
Whoa, How Does it Work?
While you’re in enrolled in high school, you also enroll in your local community college. You take actual college classes with other college students. The credit you receive from the college is legitimate college credit and your high school counts it for your graduation requirements also. You can still take high school classes and this in fact what I do.
The state (or your high school depending on how you look at it) pays for it. All I paid this year was a $15 application fee. That was it.
Advantages:
- College credit for free. Usually, there’s no limit to how many credit hours you can take. One of my classmates is going to graduate high school and have an associates degree!
- Variety of courses. Colleges offer classes that many high schools simply can’t or won’t. Philosophy of World Religions anyone?
- Different people. In a community college for sure, you’re going to be learning with people from all different backgrounds. Each one has something unique to offer.
- You know what to expect in a college level course for the future. Not having busy work is a major relief!
Negatives:
- Under the Ohio system, if you fail a PSEO class, then you have to pay back the tuition. Ouch. So clearly, it’s not a way to just slack off.
- You’re responsible for transportation. There is no college school bus that comes and picks you up. You have to drive yourself to and from school, or have someone who can. This will mean using more gas.
- You lose time with high school classmates. Personally, I saw this as a positive since there are some people you don’t want to see anyway. But you can control how many classes you take at high school and how many you take at college. For me, 2 high school classes have been enough to keep me “in the loop”.
How Do I Sign Up?
If you’re interested, first you need to make sure your state offers the program. I know for sure that Ohio and Minnesota offer the program and it appears from my Google searches that at least a few others do. To check yours type “YOUR STATE post secondary education option” or “YOUR STATE PSEO” into Google. If that doesn’t help, talk to your guidance counselor to see what options you have.
Overall, I think this a great program. Even if the credits earned don’t transfer for some reason, you’ve still gotten a head start in terms of knowledge and knowing what’s coming up ahead. Even better, you can feel in control of your education. I definitely feel like I’m forging my own path instead of just using the template of classes that high school provides.
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