Personal Finance Blog by Debit versus Credit

Saving Money With A Library Card

November 12, 2008 | Filed in: Frugality | 3 comments

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You don’t have to enjoy reading to take advantage of everything that your library has to offer.  In fact you don’t even have to like reading at all.  My bet is that your library still has plenty of entertainment options available.  Most modern libraries are not only stocked with books but also music cd’s, movies, magazines and computers connected to the Internet.  If you aren’t already a library member then go sign up – it’s free as long as it’s your local city library.  Once you are a member then let the savings commence. Check out these ways to save money with your library card:

Buy books no more.  Instead of going to Barnes and Noble to buy that new novel that you’re only going to read once why not just pick up a copy of it at the library?  It’s free!  You’re only going to read the book once anyway so there really is no reason to buy it.

Keep up on all your favorite gossip magazines.  I’m willing to bet that your library stocks Entertainment Weekly and US Weekly.  Why pay for these magazines when you can take a trip down to your library and read about Britney Spears or Brad Pitt to your hearts content.  If you don’t enjoy gossip magazines (I’ll stand up and be counted here) you still have plenty of other options including business magazines, money magazines (my personal favorite), car magazines and sports magazines.

Goodbye Netflix.  Sure it may not be quite as convenient as having movies delivered to your mailbox but your library is probably pretty well stocked with all of the latest movies to come out on DVD.  Why not take a stroll down to check out their collection?  You may be pleasantly surprised.

Can you think of any other ways to save money with your library card? Please leave your comment and if it’s a great idea I’d be more than happy to update this post with a shout out!

Tags: Frugality, Library, Money Saving Tips

4 Ways College Students Can Save Money

October 28, 2008 | Filed in: Frugality | 6 comments

Being myself a student I’m fully aware of all of the potential cost-savings that can come along with pursuing a higher education.  Of course these cost-savings don’t come cheaply: paying for college can cost thousands to tens of thousands of dollars a year.  But you’re already paying for that right?  You might as well take full advantage of what you’re paying for and listed below are 4 ways to do just that.

• Cancel your magazine and newspaper subscriptions.  The library at your university or community college is more than likely well stocked with all of the latest magazines and newspapers.  You may not find any of those “special interest” magazines that you keep under your bed, but you’ll likely find all mainstream magazines as well as business and hobby magazines.
• Cancel your gym membership.  Many colleges offer unlimited use of their workout facilities.  Take advantage of this.  There is no point to paying for an expensive gym membership when you probably already have full access to the gym at your school.
• Cancel your Internet.  I’m willing to bet that your college offers free Wi-Fi everywhere on campus.  I’m also willing to bet that their Internet access is a lot faster than your current one.  If you live on campus or close enough to the campus where it’s just a hop skip and a jump away you might consider cancelling your Internet and taking your laptop to school whenever you need (or want) to use the Internet.
• Take your date to school.  If you’re looking for a great date idea that doesn’t cost much then look no further than your local college campus.  I’m not talking about taking her to your accounting class with you (you’ll not likely have a girlfriend any longer if you do this) but rather taking advantage of the sports courts that your campus has.  More than likely your campus has racquetball courts, tennis courts, a sand volleyball court and a basketball court.  Volleyball and racquetball are my favorites, but maybe your date prefers to play some b-ball.  Either way it’s all right there, for you to use.

Tags: Frugality, Money Saving Tips, Money Saving Tips for Students

An Easy Way To Save Money: Plan.

October 21, 2008 | Filed in: Frugality | 3 comments

Today we’ll be featuring a guest post from Michael Caldwell at UseTheDollar.com, a finance blog for college students.

Stores Expect to Sell you more than you came for

The majority of my unplanned spending is composed of impulse buying of items in stores. Your lack of planning and Store’s tricky methods cause you to spend way more than you need to be.

Though many people, notably women, go shopping just for the rush; I rarely step foot in a store without some sort of mission. “I want this book” or “I want this new sweater” — So I go looking for that item. Barnes and Nobles is counting on me to see other things and walk out with them as well as my book though. Stores spend money to fool you.

A large amount of employees’ time, marketing expenses, and floor space is spent to build displays of items they’d like you to bring home. Here are some steps you can take to keep yourself from spending more than necessary at the store.

1. Always take a list.

Whether you are shopping for Christmas, for clothes, or just going to the grocery store; do not go without a list of what you need to buy. And do NOT deviate from the plan. Stick to your list and there’s no way for you to buy on impulse.

2. Take Cash

Another great control on your spending is to only bring cash. By deciding how much you’ll spend (using your list and prices) before you leave, you can take an envelope of cash in that amount. This way, you won’t charge or spend any more than you have planned.

Impulse buying adds up fast. Bringing cash is a surefire way to not go overboard.

3. Clip Coupons

The Sunday paper, cliche as it may be, will cost between $2 and $3 each week. It can contain anywhere from $150 to $300 worth of coupons. Granted, you won’t use all of them, but if you can find even $3 worth of savings then you’ve made it worth having bought that paper. Hey, maybe you’ll even read a little and educate yourself some.

Looking for another way to save more and build wealth? Check out my post on boosting your active and passive income.

4. Don’t fall for store trickery

How often do you see a mannequin with only a shirt on? Stores understand that psychologically, if you see a shirt that you want to buy that is on display with a nice pair of pants, you’re likely to buy the pants as well! Don’t fall for their trickery. Buy what you went in for and nothing else.

5. Put on the blinders

I used to work in Retail and whenever I would work the cash register (actually, we called it the Box Office at the Disney Store) I would be required to ask each customer if they would like to add one of our counter items to their purchase. These ranged from $1-$5, and it amazed me how many people actually fell for this. They never needed that stupid cup or poorly made stuffed animal, but hey: it was cheap, convenient, and they might even hurt my feelings if they didn’t buy it; so they did. Put on your blinders at the register. You’ve nearly completed your mission — don’t succumb to the corporate mischief now.

By following these tips I think you’ll be very surprised just how much you manage to save. An amazing amount of your money goes towards items you never planned or needed to buy — if you can eliminate impulse spending, you’ll be able to build some serious wealth.

You may also be interested in checking out these easy money saving tips for students.

About The Author

Michael Caldwell is a lifelong entrepreneur who has become active in the Financial world. He is the Co-Founder of UseTheDollar.com, and provides valuable, insightful posts, videos, and explanations to help students better understand the financial world.

Tags: Frugality, Guest Post, Money Saving Tips