From the category archives:

Saving Money

Can You Really Go to College for Free?

by admin on February 5, 2009

If you’ve been thinking about going back to school to boost your skills, change careers or promote yourself in your current field, then you’ve probably spent some time researching tuition costs at different colleges and universities. Higher education can be expensive. Ridiculously so in some cases.

So when this article, “Higher Ed Gems: Free Medical School,” came across my desk, it definitely grabbed my interest. Far from the typical ‘free college degree’ scams that flood my inbox on a regular basis, this article instead explores some of the legitimate ways that reals students can get an college degree for free (or at a dramatically reduced price).

I’m no stranger to the expense of higher education. I worked two jobs and earned multiple scholarships to help pay for my undergraduate degree. Later, I continued to work two jobs plus a full-time graduate assistant position to pay for my master’s degree. While you are bound to incur some type of expenses in pursuit of your degree, there are a few ways to mitigate these costs.

Farnoosh Torabi, writing for MainStreet.com, suggests the following:

  • Check out brand new schools. New programs may be more generous with scholarships and other perks.
  • Apply for scholarships. Seriously, go to the scholarship office at your school and get applications for any and every scholarship that you might possibly qualify for. Apply for each and every one of them.
  • Consider government programs. A number of programs exist that help pay for educational costs in exchange for agreeing to work in an under-served or needy region.
  • Don’t overlook foreign schools. Colleges and universities based outside of the United States are often cheaper, and many also offer scholarships or grants to foreign students.

Don’t be fooled into thinking that you can really get a degree without any real work. Qualifying for scholarships generally takes a real committment to academics or community service. Graduate assitantships are serious work, often for very little pay. While there may be no such thing as a free ride, there are plenty of ways to fund your education without acquiring massive amounts of debt. Explore some of your options and talk to financial advisors at school you are considering to learn more about your options.

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Save Money on Eating Out Expenses

by admin on February 5, 2009

Ways to Save Money When Eating Out

Ways to Save Money When Eating Out

When money is tight, dining out is one of the first things many people cut back on. For those that enjoy eating out at their favorite restaurants, such cutbacks can seem especially difficult. Fortunately, there are plenty of great ways to save money on dining out expenses. A recent story in the New York Times suggests that many top eating establishments are offering deals, perks and specials in response to the economic downturn.

“Battered hard already by the recession and petrified of what’s to come, restaurants are talking sweet and reaching out in ways they didn’t six or even three months ago. They’re cutting special deals, adding little perks, relaxing demands and making an extra effort to be accessible.”

While you may not live in a food Mecca like NYC, your local eateries are just as likely to features great deals. It might take a little extra planning and you’ll probably have to learn where to look for the best deals, but a little extra effort just might save you a substantial amount of money on your dining out bill each month.

Check Out Overlooked Gems

Skip the high priced restaurants in favor of smaller spots. Just browsing my own local eateries revealed a number of fantastic options, such as a small, family-owned Chinese restaurant offering lunch specials for just $3.95 a person. That’s half the price of a value meal at a fast food place.

Start Being an Early Bird

Dining out late in the evening means that you’ll have to pay full dinner menu price. Instead, try making it to a late lunch, between the hours of 4PM and 6PM. Restaurants will generally allow you to order off the lunch menu during these times, offering virtually the same options as the dinner menu at dramatically lower prices.

Drink Ice Water

Ordering drinks such as soda, lemonade, flavored drinks or alcohol is a sure-fire way to ramp up your eating out bill. Instead, just order ice water. Not only is it usually free, it’s also a lot healthier for your body.

Ask About Loyal Customer Rewards

Do you often eat out at the same restaurant? Then be sure to ask if the establishment offers a customer loyalty program. Such programs build points every time you eat there. Eventually, you can build enough points to pay for a free or discounted meal.

Use Coupons

You may be surprised to learn that many popular restaurants offer great coupons. Check out coupon mailers such as ValPack, or browse your local newspaper for great finds. Such coupons might shave dollars off your bill, offer free appetizers or even provide buy one/get one free deals.

When you are trying to save money, eating out might be one of the first things to go. If you budget wisely and keep an eye out for great deals, however, there is no reason why you can’t occasionally enjoy great meals out at your favorite restaurants.

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Top 5 Money Saving Tips

by admin on January 23, 2008

Are you ready to get serious about saving money? Making even small changes now can lead to big results down the road. Check out these top five money saving tips to get you started on the path to financial well-being.

Are you ready to start saving money? Do you want to stop burning through your monthly income and start getting what you really want out of life? Then stop dreaming and start saving. Trimming your budget and curbing your spending habits is not difficult; it merely takes a bit of planning and a lot of commitment.

Ready to get started? Check out the following top five money saving tips to find great ways to start saving money each and every day.

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The World’s Most Frugal Billionaires

by admin on January 22, 2008

An acquaintance once asked me what I would do if I was a billionaire.

My reply: “What wouldn’t I do if I was a billionaire?”

Forbes magazine offers an interesting article highlighting some of the world’s billionaires and a few of their frugal habits. It’s a nice reminder that while we may be able to afford certain indulgences, this does not mean that we necessarily need to splurge. “I don’t need Saville Row suits,” billionaire John Cauldwell explained. “I don’t need to spend money to bolster my own esteem.”

1. Warren Buffet

Estimated Net Worth: Almost $60 billion

Frugal Fact: Buffett still lives in the same home he purchased 50 years ago for just $31,500.

2. Ingvar Kamprad

Estimated Net Worth: $33 billion

Frugal Fact: Drives a 1993 Volvo and flies coach.

3. Jim C. Walton

Estimated Net Worth: $16.4 billion

Frugal Fact: While he is a member of one of America’s wealthiest families and ranked by Forbes as the 23 richest person in the world, Walton reported drives a 15 year old Dodge Dakota.

4. Azim Premji

Estimated Net Worth: $17.1 billion

Frugal Facts: This chairman of one of India largest software companies opts for economy flies, off-brand suits, budget hotels and drives a Toyota Corolla.

5. David Cheriton

Estimated Net Worth: $1.4 billion

Frugal Facts: Despite earning a fortune from his Google stocks, Cheriton makes many frugal choices. He lives in the same home he bought in 1981, drives a 1993 Honda Accord and even cuts his own hair.

When Forbes asked about his frugal lifestyle, Cheriton cited a Wikipedia definition of frugality: “The acquiring of and resourceful use of economic goods and services in order to achieve lasting and more fulfilling goals.” Which is certainly something we can all aspire to.

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Top 10 Top Ways to Save on Household Expenses

by admin on January 20, 2008

Saving money on your household expenses is one of the best ways to stay within your budget. There are many different ways to cut costs simply by making a few minor changes in your daily life. These adjustments may seem small, but the money you’ll save can add up to thousands of dollars over the course of the year. Get started today in order to increase your financial fitness and prevent overspending in the future.

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