Pragmatic Personal Finance Tips for College Students: Part2
English Major (Sorry, but I’m going to have to take the liberty of shortening this to E.M. for the rest of this post) over at An English Major’s Money has an excellent post about Pragmatic Personal Finance Tips for College Students. The stress here is on the term "Pragmatic". There are a lot of excellent finance-related blogs in the blogsphere, but the student finances have such unique challenges that some of the tips on these blogs are just not applicable to students. That's why I like E.M.'s list. It is very specific to the student population.
I have a few additional tips to add to the list and so decided to create a "Part 2" here.
Since it is written as a continuation of the (unofficial) Part1 started out by E.M., let me start with a quick summary of the original list.
Now that’s an excellent list which will work for most students (not just those who go to the liberal arts schools but Beyond too). Here are a few more.
Save on textbooks.
Save on eating expenses.
Save on entertainment.
Internet Access.
Parking.
Don’t know if this was unique to our school. But I will list it, anyway. For us on-campus parking was quite expensive. Several apartment complexes within walking distance from school restricted the parking to their residents. Since there were quite a few students in these apartments who did not own a car, there was a flourishing "underground market" for these parking stickers. I don’t know if its legal or if its something you like – I am just listing it. What you do with the info is up to you :)
Traffic rules.
Observe traffic rules. Traffic tickets are expensive and unnecessary. I just didn’t get this at first. But after two speeding and one parking ticket, I decided it was time to stop funding the local highway maintenance projects out of my below-the-poverty-line student salary!
Car Pool.
E.M. mentions Avoid driving whenever possible. I agree. However, if that is not possible, carpool. In my case, this was not possible since me and the better half lived a 100 miles apart. After a few weeks of me communting alone, the word spread (as E.M. says, word of mouth is king) and a few others asked me if they could ride with me. In return, they would sometimes pay for a tank of gas. There wasn’t a formal financial arrangement (I agreed, because I enjoyed the company), but every time someone offered to pay for gas, it was mini windfall for me :)
That’s about what I have for now. If you would like to add additional tips, feel free to leave a comment here or on E.M.’s original list. If you have several tips, you are welcome to create a "Part 3" on your blog, too :)
5 Comments:
This is awesome! Thanks for picking up the ball and running with it, and I can't believe I didn't mention the do not sell your books back to the bookstore; sell them online thing. I hope to see lots more posts by young pf bloggers (current students and recent grads both) on this subject--I really think that so much of the information given to students is so wildly general that it's basically useless. Web 2.0 to the rescue!
Web 2.0 to the rescue, it is!
Ugh. Parking.
I can vouch for the high quality work ethic of UCLA's parking enforcement team. Back in my college days (about 10 years ago), I used to avoid paying for parking ($5/day on campus) as much as possible. That meant a lot of illegal parking. In the end, I paid much more in tickets (and time fighting tickets) than I would have if I just paid for parking. I wouldn't be surprised if parking enforcement brought in more money than the football team. ;)
The lesson? Never, EVER, mess with UCLA's meter maids. They always win.
Great blog ispf! I wish there were resources like this when I was going to school.
Cheers,
Greg
Hey, these are awesome tips! I'm honored to be included in this list :-)
Excellent tips! Buying used books is a really great way to save. Plus by selling the ones that you have you'll be able to earn. Check out book swaps or book exchange programs as these are really helpful too!
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