Archive for the 'Saving Money' Category

Tips on Saving Money During the Credit Crunch

Everyone nowadays is talking about saving money. That's great, as we become more fiscal, we can hopefully learn to avoid debt and be financially secure. That's especially true with college students. While in college a student has little to no spending money and that's okay. The necessities like paying monthly bills (rent, utilities, food) are important, so having money for fun is going to be hard. For a college student to save money doesn't have to be as hard as everyone says. Sure he or she wants to buy alcohol and party and go out to eat on occasion. Not a bad thing - we all need to keep our sanity somehow. Saving money doesn't mean we have to stop buying things. If you want to stop buying things, great! You'll be more fiscally responsible than most people.For the general populace, saving money can be achieved by reducing energy consumption. Now, some people may scoff at that notion, saying, "How can reducing energy save me money? It's not like electricity costs that much." Unfortunately, energy can cost quite a bit, but by energy, I just don't mean just electricity. There is water and gas to be aware of as well. Add those three up and you can save 15-20 dollars a month. That's a case of beer for a weekend.How do you go about this without ruining the comfort of college life? Well, for starters, most college students have their own computers whether they are a laptop or a desktop. These can suck down quite a lot of energy. When checking out for the night, turn off your computer. This will help save energy. Also, make sure to unplug the power cord from the wall as this uses a bit of energy as well.Saving energy with electricity isn't too hard and there are a lot of things you can do as a college student. At night, unplug your TV, microwave, stereo, computer, lamps and anything else you do not need on. You may want to keep your fridge turned on so food doesn't spoil. In my case, I unplug my fridge as I only have soda and beer in it. Unplugging the fridge and plugging it in actually uses more energy as the compressor in the fridge has to work twice as hard to make the fridge cool again. This is why I keep my fridge unplugged for a few days before plugging it in. If done this way, you can save money on electricity but it's probably more practical to leave the refrigerator on.Also, if you have your own washer and dryer, you can unplug those when you are not using them and if you want to save more money, air dry your clothes by putting them on a drying rack or clothesline. The dryer and washer suck a lot of energy hence the 240 volts needed to power them. Unplugging electronics also is a safety feature in itself as it can help abate the possibility of a fire by taking out the chance of sparking.Most people take a shower as opposed to a bath, and generally, that's a great way to save money. Unless you take a half an hour shower then the bath is going to be cheaper. For the average guy, a five to seven minute shower should be enough to warm up, clean the hair and scrub the body well. It's okay to indulge once in awhile, but the mentality going into the shower shouldn't be one of indulgence, but of something that needs to be done to be clean. You can save a bunch of money by rationing water with shorter showers.You can save money by getting used to tap water. Tap water is generally better for you than bottled water. Tap water may be a bit dirtier than bottled, which helps your immune system stay in shape as well as your teeth from the fluoride in tap water.The gas part is hard to really change, but most gas companies allow two ways of paying for your gas. First is having a fixed amount each month based on average usage. The other is by paying for the amount of gas used much like water. Generally, it's easier to pay a fixed amount as it's reasonable. If your heating and air-conditioning is powered by gas, and you rarely use it, it may be better to switch the way you pay for gas. While this isn't as big of a money saver, it can help out in the long run. Why not save a few bucks? It's that extra money for a cab, or a few bucks for a beer at a bar.While there are numerous ways to make money while in college, a lot of money can be "made" just by saving energy. This is normally overlooked, and when utilized can make your life easier. You can take this knowledge and extrapolate to your later years when living on your own. It's good a habit to have and will make you happy.

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