Posts Tagged ‘ bills ’

10 TIPS FOR SAVING $$ AT COLLEGE


CollegeStudent-Pig1. Create a budget before heading off to school.

Sit down and evaluate how much money you have to spend and what you will need to be spending it on. Will you have a job at school? How much spending money will you allow yourself a week? Do you need to go grocery shopping or do you have a meal plan? Are there bills that you will need to pay monthly? What forms of transportation will you be using? Prepare yourself for your regular expenses and put aside money for the fun things that you want to do!

2. Saving money on text books – shop around.
The biggest mistake many college students make is buying textbooks from their school bookstores. Often times many online distributors such as Amazon, Chegg and eBay offer textbooks at a fraction of the original price. Used books are significantly less expensive than new books. Renting a book is a great option. Whether you rent or buy your books, if you don’t need them for reference for subsequent classes, sell them at the end of the semester. Many online distributors buy back used books and their websites will direct you through the sell-back process (sometimes with free postage). Check with your campus bookstore for their book buy-back process, too.

3. Limit the amount of times you eat out.
Once you reach that limit, cut yourself off. Also, check your meal plan – does it offer “swipes” at partnering restaurants near campus?

4. Cut out excessive habits.
There is always that one weakness that ends up costing you an enormous amount of money. $4 a day for coffee before class is $20 a week! That would be $300 a semester on coffee! What could you do with $300 in your pocket?

5. Always pay your bills on time.
Skipping a bill here and there doesn’t seem like a big deal, besides you’ll pay them eventually, right? This can actually end up costing you hundreds of dollars in late fees and even ruin your credit score. If you need a reminder, make a calendar of when all the bills are due, that way you will never miss one. You can also use an online bill pay service to schedule your payments.

6. If you don’t need it, don’t buy it.
Let’s be honest, you don’t really need 200 channels of football. Use that money for something more useful or on something you can’t go without.

7. Do you really need a car at school?
Many colleges offer free student bus services around campus/town or rides to the airport, bus terminal or the train station. Check with your school for options. Many offer day-long bike or car rentals for a nominal fee.

8. Take advantage of free on-campus activities.
Many colleges and universities offer a variety of free social events on campus. Remember, you pay a student activity fee, so take advantage of these events.

9. Do not use loan money for anything that does not go toward your education.
Your student loans are for your tuition, room and board, and educational expenses. Borrow only what you need and don’t use this money on anything else. Remember, you have to pay them back once you are no longer in school.

10. Flash your student ID for discounts.
Many businesses  including movie theaters and restaurants offer student discounts. Always ask and show your ID.

————————-

Guest Blogger: Megan Lopez, Marketing Intern (student at St. John’s University, New York)

Labor Day and celebrating the worker


This weekend marks the official end of summer. It’s Labor Day weekend, a time typically marked by the beginning of football season, the last of the summer picnics, fireworks, various festivals, and back-to-school. It began in New York City in 1882 as a day to celebrate the economic and social achievements of American workers.  So here’s to you, the American worker!

Given the ups and downs of the economy, it’s not always easy being an American worker or any kind of worker for that matter. That’s why it’s important to always be prepared in the event you find yourself involuntarily unemployed for reasons such as downsizing, companies closing, medical emergencies, illnesses, disability or even your own death. When you’re not working and not bringing in money, it’s hard to pay the bills. The last thing we want to see is all of your hard work and well-earned money be turned into foreclosures, bankruptcies, delinquencies or repossessions.

We want to help you protect your credit and your good name. The next time you get a loan from us, ask us about Member Value Protection (MVP).  When you opt to purchase MVP, you’ll get the peace of mind in knowing that your monthly loan payments will be cancelled in the event of death, disability or involuntary unemployment. Your consumer loan payment will be cancelled without penalty, added interest, or being reported as delinquent to the credit bureau.*

This program offers several different options. That means flexibility in choosing the package that’s right for you. Each option has specific eligibility requirements and a different range of benefits. For complete details, including monthly costs for each option, be sure to inquire about MVP when you apply for your loan.

* Whether or not you purchase Member Value Protection will not affect your application for credit or the terms of any existing credit agreement you have with Members 1st Federal Credit Union.  There are eligibility requirements, conditions and exclusions that could prevent you from receiving Member Value Protection benefits. Ask us for details or refer to your contract and/or terms and conditions.

%d bloggers like this: