FAP923: Back to school financial tips special

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FAP923: Back to school financial tips special

28 August 2009 1 views No Comment

FAP923: Back to school financial tips special

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A change of pace for today’s show as you head back to school, some back to school financial tips

1. You don’t need a student credit card on campus. Everyone will say you do, but honestly, you really don’t.

2. Make a budget BEFORE the semester begins. Figure out what kind of money you’ll be able to earn and what you’ll be spending – and stick to it.

3. Team up with a roommate, dormmate, or friends to enforce each others’ budgets. The power of the group works. Social financial apps like Wesabe, Mint, and Geezeo can help with this, too. Set a goal that you publish among your friends and stick to it. Set rewards for achieving those goals.

4. Go for a lot of walks on campus. You’ll meet a ton of new people, and you won’t have to spend money to do it. Being visible is the easiest way to meet new people. Want to meet lots of new people really, really fast? Volunteer at any kind of event, work at the help desk, etc. Be helpful and you’ll make amazing, fast connections that often endure long past college.

5. Everything marked free isn’t. Beware of any free offer that requires you to sign up for anything. Not saying it’s bad, just know what you’re signing for – like a stealth credit card application.

6. Some of the best conversations you’ll have are on playgrounds. Hang out at places like that vs. cafes or other money-spending venues. Want to make your own game socially? Go off campus, wander around (with safety in mind) and find the best hangout spots in the town, then share them with friends. Fred & Mary’s Coffeehouse and the city gardens as an example.

7. Check your campus email every day. Financial aid offices often send notices to campus email addresses. Don’t miss a bill. If you’re technically savvy, just forward it to your webmail account.

8. Buy and bring to campus an indoor dryer rack. You’ll cut your laundry bill in half and the rack will pay for itself in weeks, especially if it’s around $18. You can find magnetic and closet-based systems for as little as $10 online.

9. Bring resealable containers. I’m not saying bring them into the dining hall or anything… but, you know. Make sure you don’t skip meals if you’ve paid for them. That’s just throwing money away.

10. Have a small lockbox in your dorm room. Keep your checks, debit card, etc. in there and locked up. Make it a combo lock so that if you lose your keys, you’re not out of luck, and if you’re drunk, you can’t get at the good stuff until you’re sober enough to remember the combination. Seriously.

11. If you have a student ID card that’s tied to any kind of financial account, punch a hole in it, stick it on your keychain, and put your keychain on a lanyard.

12. Opt out of as many fees and unnecessary bills as possible, such as campus phone and TV service. Seriously, you have the Internet. What else do you need? Use free applications like Skype, change your mobile plan to unlimited calling if you call home a lot (and you probably will if you’re a first year student), use Hulu.com for television, and avoid those extra, unnecessary expenses.

13. Shop around online for better textbook prices. We have a free eBook on the topic.

14. If you’re living off campus and on a partial or no meal plan, sign up for the supermarket loyalty card plans, coupon hunt online, and get a decent meal plan together. Planning ahead a little will save you hundreds, if not thousands of dollars on food.

15. Set up an affiliate program during college and get your personal professional web presence going as soon as you can. You’ll have more free time in college than you will after college, so take the time to set up your blog, web site, etc. and develop professional contacts early. By the time you graduate, you’ll be way ahead of everyone else playing the resume cannon game. Get known for something in your field of study or focus early on.

16. Keep hunting for scholarships! Pick a time each week, 1 hour per week, and apply for a new scholarship each week. I guarantee after a year you’ll be happy you did. Better yet, get some friends together and make it a social thing.

Scholarship Update

Are you working towards a marketing degree that will take you through the constantly evolving world of multi-channel marketing (mobile, web, email, virtual worlds, social media networks, podcasting) in the 21st century?

How would you like to earn a $500 Scholarship and real world experience at the same time?

We will award one (1) $500 scholarship to the person with the highest number of referred sign-ups to ScholarshipPoints as of midnight, September 30.

There were not enough entrants to select a group of finalists so we are extending the deadlines and making it easier to declare your interest. To declare your interest in competing for the $500 Social Media Marketing Scholarship, send an email to winscholarships@scholarshippoints.com with the subject “$500 Social Media Marketing Scholarship”. In the email you must state why you are a good candidate to compete for this scholarship.

The deadline for entering the competition is now August 31, 2009. New deadlines for the second and final rounds will be posted soon.

Thank you,

ScholarshipPoints.com

Details at Scholarship Points.

Scholarship Points Instructions

Are you a Scholarship Points member? In today’s show, get a Points code for 20 Scholarship Points by subscribing to the podcast and listening to the episode. Subscribing is fast, easy, and free.

If you have iTunes:
http://www.financialaidnews.com/itunes

If you have Google Reader:
http://www.financialaidnews.com/googlereader

If you subscribe by email:
http://www.financialaidnews.com/email

Remember, the points code is in the show itself, so you have to tune in and listen to it. I promise it’ll be worth your time.

Mail Bag

CC asked: how would you handle saving for college with younger kids if you suddenly just got a chunk of money?

It all depends on risk!

Free Stuff Friday

Uncle Matt’s OJ, 59 oz

Taco from Taco Del Mar

Hallmark card

Flexistyle liner for women

DVD-RW from Flying Share

Walgreens 25 4×6 photos

Chick Fil A sandwich

Free Song of the Week

Rolling out of summer with David Usher’s Kill the Lights.

Did you enjoy this? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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