Tuesday, October 03, 2006

Scholarships and Saving Money

I came across a great Scholarship site that is extremely comprehensive. There you will find exhaustive lists of scholarships available for all kinds of student profiles.

The tab I thought was most interesting explains to college students how to save money. It is a very nice baseline for any high school senior personal finance course.

A sample from the site:

118 Ways to Save Money in College
Food is one of the top priorities in a college student’s life. Eating fast, eating healthy, it can all cost money if you don’t take time to consider the nitty-gritty of eating to save money.

17. Trying to eat on 12 cents? Two words: Ramen Noodles.
18. If you live on campus and pay for a partial or whole meal plan, then use it. Some programs don’t restrict you from taking food to go or eating as many meals as you wish. Peanut butter packets are your friend :)
19. Have a coffee fix? If you are one of millions of college students ducking into the corner coffeehouse every morning for your daily cuppa Joe, then you are wasting money.

Your daily latte, cappuccino, or mocha will run you between $2.50 and $3.50 depending on the size you need. Seven days of that routine costs you $17.50 per week, $70 per month and around $280.00 per semester! That’s over $500 a year you drank in morning caffeine. Make your own. By the time you graduate from a four-year degree, you’ve saved over $2000 in coffee beverages. That’s just one a day….Buy a decent coffee maker or even a small espresso/cappuccino machine for your dorm room or apartment. You’ll save hundreds of dollars.
20. Don’t tip just because someone poured you a cup of coffee. Keep your own change. Everyone wants a tip; “Poor college students work here…..” You’re poor, too. They have a job. Drop it in that change jar we mentioned under “Managing the Money You Have.”
21. Oatmeal is fast, filling, and affordable.

Peanut Butter Rocks.

22. Skip the fast food forays and late night take-out. Make sure you keep healthy, affordable options in your room or apartment. Yogurt, cottage cheese, string cheese, bagels, peanut butter are all affordable, convenient and much more healthy than a late night burger and fries.
23. Collect coupons and follow the weekly sales at the grocery store. Avoid high-end markets like Whole Foods. These are nice, but most products cost much more. Once you’re out of school and have a good job you can shop the upscale markets.
24. Kick the bottled water habit; support your local tap water and drink for free. Get a some kind of filter if you want better tasting water.
25. Avoid a sit down restaurant with a large group. You’ll already be charged at least 15% gratuity, and if everyone decides to “split the bill,” you can really get screwed if you tried to eat cheap and didn’t splurge on alcohol. Know in advance what the tone of the party will be and what will be expected so you’re not surprised when the bill arrives.

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