Here are some tips to ease the burden of gas woes:
- Carpool, carpool, carpool! Not only will you save on gas, but you will be doing your bit to reduce air pollution.
- If you are purchasing a vehicle, be sure your choice is good on gas! Or consider a hybrid.
- If you know you will be driving often, set aside money each week for gas costs.
- For more help, use Nellie Mae's free budget worksheet at www.nelliemae.com/calculators.
Local gas prices search engine: U.S. gas prices by county.
Check out these tips for reducing expenses during school
Financial Services
- Comparison shop for the best banking services, including free checking and limited or no ATM fees.
- Use the ATM once or twice a week, then leave your card in your room (be sure it's secure) to avoid impulsive cash withdrawals.
- Record your ATM withdrawals in your checkbook immediately, or store your receipts in your checkbook and enter them regularly.
- If you work, have your paycheck automatically deposited into your bank account (if possible) to reduce "handling" and the temptation to pocket more.
- Each semester, deposit any excess financial aid into your bank account and only withdraw what you've budgeted monthly.
Entertainment
- Use exercise recordings or on-campus gym facilities instead of buying an off-campus gym membership. If your school has on-campus facilities, the fees you paid with your tuition will likely cover use of the campus gym. If you buy a membership to an off-campus gym, you've actually paid for two memberships.
- Enjoy free activities on campus, at coffee houses, or at galleries.
Food
- Use your meal plan instead of going out or ordering in. If you have a meal plan, you've already paid for it. Every time you eat out instead of using your meal plan, you're paying twice for that meal.
- Shop for snacks and other groceries at a supermarket instead of at a convenience store where prices are higher. Cut coupons and use them.
- Learn to cook simple, low-cost meals like pasta, beans and rice, etc.
- Buy store-brand items that are cheaper and contain the same ingredients as popular brand names.
- Organize group potluck meals (everyone brings something) on weekends to minimize eating out.
Household
- Share expenses with roommates.
- Shop at discount stores for inexpensive household items like sponges, trash bags, and cleaning products.
- Consider having only one phone service (wireless or landline). Use text messaging and e-mail (if economical) instead of making long-distance calls.
- Use free Internet service providers and e-mail providers.
Books and Supplies
- Buy used books when possible, and return books at the end of the semester for partial refund.
- Check out student discounts for books, computer equipment, and other items.
Transportation
- Take public transportation, bicycle, or walk as much as possible to save on transportation costs.
- Find out which airlines, rail services, or bus lines offer student fares at discounted rates.
- If you must own a car, buy a used one at a low price and avoid having an auto loan while you're in school.
Clothing
- Shop for clothes at off-price stores or factory outlets.
- Don't buy "dry clean only" items.
- Borrow special occasion clothes instead of buying a one-time outfit, or share wardrobes with a couple of similarly sized friends.
Giving
- Make gifts for friends and family (like baked goods, legally downloaded music, etc.) instead of buying them.
- Volunteer your time instead of making charitable contributions.
The FinMan Program is provided by Nellie Mae. Learn more at www.nelliemae.com/FinMan