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Cashing in on the ABC's: saving and spending
Ebony, August, 2004
AS the lazy summer days draw to an end, college-bound students scramble to gather their school supplies, packing lists and all the comforts for their new home away from home. But education, like everything else, requires money, and more importantly, the ability to use it wisely. So, take these money-saving tips and get packing!
Don't Wait Until the Last Minute. Start buying the summer before college, starting with the larger items first. "Each week during my senior year, I put a little money aside toward my college supply list," says West Coast freshman Robert Logan. "Once I graduated from high school, I was able to start buying the items I knew I needed [sheets, towels and a used computer]. Each week, I bought a few more items until I got everything that I needed."
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Request a List from Your School. Most schools offer a school "check-in" list along with their package of orientation materials. The list normally provides an overview of the necessary and common items for first-year college students. Take this list with you as you begin to shop, and cross off items as you purchase them.
Talk to Your Roommate. Normally, you are given the contact information for your roommate following your acceptance letter from the college. Contact your new roommate to ask what items he or she will be bringing to the room and what additional items might be purchased. Decide who will bring the CD player, the television, the stereo and other necessities. This will allow both of you to cut down on costs and minimize your packing.
Shop for Bargains. Most department stores and many large-scale convenience stores offer massive sales for back-to-school college students. "Everything from sheets, towels, hangers and canned goods are on sale," says first-year student Kenyon Foster, a freshman at a Big 10 university. "I took my school packing list with me and purchased almost everything I needed during that first day. I spent a lot less than I thought because I shopped during those sale periods."
Avoid Credit Cards. As a college student, a common lure is the introduction of credit and its privileges. "Avoiding the credit card trap is one of the most important lessons you can learn," says senior college student Ashley Winters, a student on the West Coast. "Although it seems like you're getting something for nothing, someone has to pay for it in the end. Double-digit interest rates and late fees are the last thing you want to think about when school starts."
Buy Used Textbooks. Part of the college experience is spending big on books. But education experts agree that a great cost-cutter is purchasing used books. "You get the same book, the same material, and the same lesson as everyone else, but at half the cost," says Charlene Bakersfield, a high school teacher who helps her students prepare for the demands of college. "That's learning to be a smart spender."
Cut Down on Your Long-Distance Bill. Sign up for an instant messenger service. This allows you to "talk" for hours on the Internet and avoid long-distance charges. If you don't have access to the Internet, buy a phone card so that you are not subject to the long-distance rate established for your school.
Take Advantage of Student Registry. At one large discount store, students can "register" the items they'd like for their dorm rooms, creating a "Wish List For College." Jacque Blankenship, Wal-Mart marketing manager, says, "This will hopefully make the back-to-school season a little less stressful for parents and students alike by providing them with the one-stop shopping ..."
In preparation, budget early, find out what your college requires and alleviate the freshman blues. So, talk to your college, talk to your roommate and let the shopping begin!
COPYRIGHT 2004 Johnson Publishing Co.
COPYRIGHT 2004 Gale Group
