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Saturday, July 4, 2009
COLUMN: Little steps may mean big money when saving

Wednesday, September 17, 2008

Part of being in college is not having much money.

I never have much cash and try to save as much as I can, and, over the years, I’ve developed a few tricks that have helped me get by cheaply.

It is important to make sure you have enough money to live on, and these tips can help ease even the tightest of financial situations.

One expense that can add up quickly is food. The easy solution is to have a cheap meal plan thought out.

Even though I have an apartment with a kitchen, I currently have a meal plan that lets me eat out for only $100 dollars a month, which is significantly cheaper than buying groceries.

Eating out can be expensive. When you do eat out, order water with your meal; it’s free.

If your meal comes with a salad and/or sides, order them whether you want to or not. Take the extra food home, and turn one meal into three.

You also have to set aside expenses for the bare necessities, like toilet paper and paper towels.

If you ever have to stay in a hotel, stock up on all the soap, shampoo, toilet paper and tissues you can and bring it home with you. Don’t hesitate to call the front desk and ask for more; you’ll get it.

But don’t take towels. They charge you for that.

If you hate spending money on school supplies, go to a career fair.

After a few hours there, you’ll find yourself with more pencils, pens and highlighters than you know what to do with. You can get free T-shirts and koozies, too.

When you do have cash, spend it wisely.

Never ever pay with exact change; try to get as many coins as you can.

You probably won’t want to carry all of them around, and that’s the point. Put them in a jar and save them. A mason jar of assorted change can fetch you up to $100.

Also, pay with the smallest bills you have. I am a lot more hesitant to break a $20 bill than I am to pay with singles.

If you have a debit card or a checkbook, put your cash in the bank. That will stop you from buying that soda or pack of gum if you have to break out the checkbook or card.

If you drive, don’t ever buy a full tank of gas. Always being on the verge of empty will prompt you to cut down on unnecessary driving. And with high gas prices, that means you’ll save a lot.

If you like to rent movies, like I do, don’t get them from rental stores. Use Netflix.

The best plan is $8.99 a month, which is less than two new releases at a Blockbuster store. This Netflix plan gives you unlimited rentals and unlimited hours of online video content. Plus, the movies are shipped out of Oklahoma City, which means there is only about a two-day turn around.

My last tip pertains to OU-Texas weekend. A lot of that money is spent on drinks, but the amount can be cut down.

Most of that weekend is spent wandering through rooms of people you don’t know who keep their drinks iced down in a bathtub.

In every room you visit, ask to use the bathroom. You’ll find yourself alone next to a whole bunch of ice-cold drinks. They are yours for the taking.

But remember: sealed containers only.

It is important to save your money in college because it goes quickly. Just follows these few steps, and you start to find you have more money than you used to.

But be careful. Even if you find yourself with more cash than normal, remember: Be diligent and be frugal.

Michael Aman is a petroleum engineering senior. His column appears every other Wednesday.

Comments

This article made me laugh. There really were some great money saving strategies. Thanks for sharing!

Posted by anonymous / makkunaito on September 17, 2008 at 7:03 p.m.

This article made me laugh too... although it was because of how stupid it was. If you are in a money crunch and are trying to save money... here's an even easier way to do it... A) dont go out to eat.. B) Dont go to hotels... C) dont rent movies. as for the mooching, not too much of a problem until you find yourself backed into a corner by some guy whose beer you just stole

Posted by anonymous / paulwhal on September 17, 2008 at 7:35 p.m.

you'll probably need bail money because you're gonna be arrested when you're in the fight with the 'corner' guy...... don't steal during an OUTX weekend.

Posted by anonymous / kdbp1213 on September 18, 2008 at 11:05 a.m.

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