This is my contribution to ProBlogger’s top 5 group writing project. Go by, read the submissions, and contribute a post as well.
Like most young students, I’m poor. My wife and I are always looking for ways to save money so we can mitigate our already high student debt load. Here’s a list of the 5 things that I have found that have helped us save the most money.
- Live with your parents. Right now, my wife and I are living with her parents. This has been our biggest money saver. It’s worked out rather well for us and my in-laws. We have rent free housing and they get in home service. My wife cleans the house and makes dinner for them every once in awhile and I take care of landscaping and the recyclables.
- Don’t own a car or if you’re married, just own one. My wife and I just own one car. I got rid of mine when we married. We save on insurance and maintenance. Besides the savings sharing a car has given us time to talk between our busy schedules.
- Bring your lunch to campus. I’m surprised by the number of law students who go out to eat every day. If the average meal is $5, that means that many students are dropping $100 a month just on lunch. My average home brought lunch costs probably a $1, some time less.
- Buy used textbooks. Buying new is for suckers. Buying used law school text books can be tricky though because publishers come out with new editions frequently. It’s OK to not buy the newest edition. The reality it that there’s not much difference between the older and new editions. If there is something new, just read it in a friend’s text book.
- Take advantage of free food at club meetings. There’s always a club meeting somewhere on campus on any day of the week. Often at these meetings there’s free food. Stop by, enjoy the speaker, and load up on grub. In addition to bring your own lunch, this is another great way to reduce your food budget.
f money is tight it can be tempting to overindulge in Credit spending but the interest fees will only serve to exacerbate your debt. A Low Interest Credit Card can be useful for establishing a Credit History, but the Best Credit Cards are the ones you don’t use.
[tags]ProBlogger, Top 5, saving, money, school[/tags]