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Not sure how to create
a budget that'll work for you while at college?
Here's our version of "Dollars & Cents
101..."
Get Schooled on Saving!
By Feona Sharhran Huff
April 2001
The CollegeBound Network NewsClick -- Having a
hard time devising a solid budget to stick to
during your school days? Truth be told, it's really
not that hard. Just think about your spending
habits. Then, ask yourself: Where can I cut my
shopping excursions so that I'm able to save money?!
If you haven't figured it out yet, start with
these savvy saving strategies:
Get with the meal deal.
Sure, the beef stew served in the campus cafeteria
may not be as tasty as the local diner's (which,
by the way, could run you $10), but it'll save
you a few pennies. Besides, it doesn't make sense
to waste hard-to-come-by-cash (let's keep it real,
you are a college student living on a fixed
income) when you have the option of getting meals
as part of your school's package deal. And hey,
if the stew isn't seasoned enough, use some salt
and pepper to give it more flavor (just be sure
you don't overdo it).
Communicate via e-mail.
It's comforting to know that you want to keep
the lines of communication open with your friends
and family from back home. However, what happens
when you get that monthly telephone bill in which
you owe $350 -- due in two weeks?
You only have two options: 1) Pay up (forget about
getting that leather jacket!); or 2) File 13 the
bill and risk the chance of a bill collection
agency hunting you down for money -- or worse,
having an outstanding unpaid bill attached to
your credit report. To cease the unwanted long-distance
bill, sign up for a free e-mail address (like
those offered by Yahoo! and Hotmail), and suggest
that your must-talk-to-buddies do the same, and
let the cyber-chatting begin.
Buy gear only when necessary.
We know, we know. It's important that you dress
to impress by looking jiggy in the coolest gear
on this side of the planet. But answer this: Do
you really have to go on an all-out DKNY shopping
spree -- one that'll end up costing no less than
$700 that you will no doubt pay for with plastic
(yikes... another bill!)?! Earth to money-squandering-you...
the answer is no, no, no! In fact, you
should make a practice of purchasing clothes only
when you need them (let's say, for an internship
interview), not just because a magazine deems
a pair of jeans as the 'hot item of the month,'
the warm colors are calling you ("Buy me,
buy me!"), or simply because you've got money
in your pocket to spend. Hey, you can only wear
but one pair of pants at a time!
Check out campus entertainment.
After all, it will more than likely be free, as
opposed to spending $30 at the bowling alley (that's
how much it'll cost for bowling shoes and multiple
games played). Why not utilize the one that's
free in the student center?! Besides, if your
reason for going to an outside bowling alley is
because you don't think you'll have to take turns,
you're wrong. You can't hog up any bowling alley
for an entire evening. Before you venture off
campus to spend unnecessary dollars, stop by the
student activities office and find out what your
school has to offer -- and that's free!
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