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Tuesday, May 10, 2011

Stingy Tip no.2

Invest in the future

Would you like to walk across a tightrope for the first time without a net or, if you had no choice in the matter, how likely is it that you would try to do a trick? The same goes with life. You take more risks if the danger is less extreme. Financial advisors agree that, if possible, you should keep 3-4 months' expenses worth of money in the bank in case of financial hardship, i.e. losing your job. This can be problematic at best for a college student when vast amounts of money get devoted to tuition twice a year instead of smaller amounts taken in payments like most expenses.

If you can't keep large sums on hand try stockpiling food and supplies instead. This is a tactic employed by many if not most couponers (or couponistas) where, when you find an extreme deal on grocery items where the product is nearly free, free, or better than free (overage)-you stock up. This is recommended for non perishable, freeze-able items, and paper products. Do not buy more than you can reasonably consume prior to the expiration date (believe me, eggs for breakfast, lunch, and dinner three days a week gets old fast). That being said you can keep plenty of dry, canned, and frozen foods on hand for the first couple weeks of the semester when you have only $20 to live off of until your next paycheck.

Granted if you live on campus you will usually have a meal plan and limited storage but you will need to plan for the weekends and holidays where you have to fend for yourself. In addition, depending on the state of your school's cafeteria(s) being able to cook a meal with more flavor than cardboard will help lessen any homesickness and make you VERY popular amongst your friends.

In short: plan ahead and learn to cook

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