Cyber Monday

In honor of Cyber Monday, I'm going to share some tips to save money while browsing the Internet. The World Wide Web, as every college student knows, is a blessing and a curse. It's great for shopping, researching, and killing time. But with it comes endless possibilities for wasting time and money. Here are some tips for keeping your spending within the limits of your budget:

1. Consider whether you would buy the product at its usual price. If it's only worth it because it's 75% off, then it probably isn't worth it at all.
2. Don't forget about taxes and shipping costs.
3. Sales, especially short-term ones, often create an artificial need, so be sure not to succumb to pressure to buy something just because it won't be on sale tomorrow.
4. Put items in a wish list and come back another day to see if you still want it. Even better, go to the brick and mortar store to look at it in person.
5. Know the return policy.

Here is another of my posts about saving money.

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Textbook Rental

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Almost every college student these days must purchase textbooks for classes. No matter what your classmates may tell you, you cannot get through all of your classes without at least one textbook. When I took Oceanography, I just barely passed because I only had my notes to study off of.

While students try many methods of lowering the cost of textbooks, I think the best solution is book rental. Sites like Amazon.com and half.com are costing bookstores, and therefore the school, money, and they are not saving students much when you consider the inconvienence and the fact that they may not be able to sell their books again.

Textbook rental would save students a lot more money, help school bookstores and still be convienent. Everyone wins. Publishers would also not want to make new editions because they could continue to make money off of the old editions. This is assuming that publishers and authors would get a cut each time a book was rented, something that does not happen when students sell their old books on the internet.

Currently, there are options for renting books. Chegg.com is the most popular. I ordered my books there this year, and although I cannot comment on their delivery service since I only ordered the books yesterday, it was much cheaper than buying them on Amazon. And with my recent troubles with my old standby, I do not think I will be using them for textbooks for awhile.

Renting textbooks is not a new concept; according to my mom, that is how she got all of her books. I believe that it is a method that will help everyone that is involved in buying and selling textbooks. Bookstores are often seen as villians, but the fact is that they are trying to make a profit just like any other business. Textbook rental could help them do that, while at the same time ensuring that students can still afford to get the best education possible.

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Sorry about all the links, its a popular topic.

Making Money by not Wasting it

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Everyone has heard Ben Franklin's saying, "A penny saved is a penny earned." And I think most people would agree that its true, even if we don't always live by that simple rule. Part of it I think is that we associate new, expensive stuff with prestige. Our society certainly does its best to broadcast that message. Also, some of us consider retail therapy a valid solution to our problems. But the reality is, wasting money does not make you any richer. In fact, people who became rich most likely got that way by living like they had no money. So here are some basic tips for saving money:

• Don't pay for something if you can get it for free. Especially if you are already paying for it, such as printing paper in your school library. Are you applying? Some schools will waive the application fee, so keep a look out for what you have to do, whether its applying online or talking to  representative at a graduation fair. Does your friend have a new DVD that you've been wanting to watch? Borrow it first.
• Always ask if what you're about to buy is a luxury or a necessity. And be honest: for example, if your school has a good public transportation system or everything is within walking distance, a car is a luxury.
• Calculate all of the costs associated with a purchase. Does that shirt say its dry clean only? How much is shipping on the online order?
• If you are saving for something in particular, say, study abroad, keep a picture in your wallet or purse that you can look at anytime you're about to buy something. This will make you think twice.
• Don't be afraid to buy used. Consignment shops are best if you are picky. Here is an example of one with top brands.
• Brand names are hardly ever better than store brands and can lead to big savings.
• Do not spend beyond your means.
• Know when it is best to spend extra. If you are shopping for a new laptop and spending an extra $100 means the computer will last all the way through college instead of breaking down halfway through, you could be actually saving as much as $400. Think long term.
• Remember, time is money. This is a good motto to remember when you want to be generous. If you want to make a donation to a worthy cause, consider volunteering rather than giving money. When gift giving season comes around, think of who would appreciate your time. Grandam might prefer you spend the day with her organizing photos over a gift. Perhaps you could tell your brother you'll baby-sit his kids one night for free.

Inspiration for this blog came from:

• http://www.entrepreneur.com/magazine/entrepreneur/2010/july/207176.html
• http://www.fastweb.com/student-life/articles/399-5-habits-of-millionaires-and-how-to-make-them-work-for-you

Magazines

In college, magazines will sometimes serve as your lifeline. They are good reading, but useless enough that you can take a well deserved break from classwork. Of course, some can get expensive, and it's always better to save money when possible, even if it is only a few bucks a year. So keep a few things in mind:

• Find out if the magazine you want is available in your school or local library. If it isn't, see if they would be willing to subscribe to it.
• See if your friends have the magazines you want. Maybe you can trade with them or get their copies when they are done. If you really want your own subscription, see if they will give you the cards that entitle them to special discounts. They won't have any problem with this since they get so many that just end up being thrown away.
• Search the Internet for deals. Amazon has some good ones, and there are more sites. I would recommend, however, limiting yourself to sites that your friends have used.
• Check out garage sales and used book sales. You won't get the most up-to-date magazines, but with a lot of magazines, that's not really much of a problem.
• Check out the magazines' websites. Often, they will post articles from the magazine. It's also a good supplement if you do subscribe.
• Remember, the Postal Service cannot forward magazines. So, if you graduate or transfer, make sure to tell the magazine, otherwise you won't continue getting issues.

What are some of your favorite magazines and why? What publications do you think are invaluable to students?