If you have more money than you know what to do with, then this column is not for you. If you, however, have had trouble making ends meet or wish that you had more money than you do, I invite you to continue reading.
For starters, you can take comfort in knowing that your situation is not unique. I don't know anyone who hasn't felt pinched for money at some time or another, or who couldn't benefit from some extra funds. If you find yourself without enough money for everything you'd like, you have two options: earn more or spend less. Allow me to focus on that second option.
By now, I know what you're thinking: cutting back isn't fun to do and won't be fun to read about. But the purpose of this column is not to inform you about how to make do with less fun, but rather how to make more fun with less money. I'm not here to be preachy, just to offer some practical tips and advice. My aim is that you will discover at least one helpful nugget that you can use to improve the quality of your life.
Wants versus needs
A great starting point is to differentiate the things that you want from the things that you truly need. We might all want to drive a fancy new car with all the bells and whistles, but none of us need such a pimped-out ride. Needs are the things you cannot do without and they will differ from person to person. For example, while some fourth-year students probably need to spend money on dry cleaning to get their suits all spiffy for interviews and callbacks, few first-year students likely need to spend a penny on it.
Simply because you don't need something, doesn't mean you can't or won't spend money on it. Just make sure you have enough money to cover all of your real needs first and that you are being honest with yourself as to whether your expenses are really needs or wants.
Take advantage of special discounts and freebies
Another great way to save money is to take advantage of special deals and freebies. As a student affiliated with this great university, you have many opportunities to do so. Many merchants offer student discounts. Simply by showing your University I.D. card, you can save 5 percent off your grocery bill at local supermarkets and reduce the price you pay for tickets at the movie theater. You can get travel discounts and procure the latest version of Windows for only $10 from Cavalier Computers - that's more than a hundred dollars off the retail price. If technology is up your alley, you have no need to pay for an antivirus program anymore. ITC licenses allows students to get the software for free.
Additionally, some other great services and products are available to students completely free of cost. You can attend Virginia home sporting events at no charge, while alumni are paying hundreds of dollars for season tickets. The Arts Box Office lets you purchase theater and concert tickets without spending any actual money.
If you'd like to go to the upcoming Virginia Film Festival - which draws attendees from around the country, all of whom must buy tickets for the event - you can get certain tickets for free. If you're a student that prefers to look at art on a wall, students' tuition also includes membership to the University's Art Museum. Check out their "Final Fridays" receptions for special events and free wine. Interested in going to the movies? Instead of paying top dollar you can watch movies on the big screen at Newcomb Hall for only $3 a ticket. This Friday there is even a special free Halloween screening of "Corpse Bride" on the Lawn at 6:30 p.m. Or, take advantage of the DVDs that you can check out from Clemons without spending a dime.
To my own admission, these are just a few of the discounts and freebies available. Send me an e-mail with your favorite promotion, deal or freebie and I'll feature the best tips in a future column.
Comparison shop to save money
Another great way to reduce your expenses without reducing the quality of your life is to comparison shop. You can often purchase the same item at very different prices depending on where you buy it. An obvious example is gas, and although per gallon savings may be small, they can add up throughout the course of a year. Shopping around on textbooks is a great way to save money, too. Books are often available online at cheaper prices than at the University Bookstore and used books can also be purchased from other students. I saved more than $100 this fall just on the books I bought.
Warehouse stores such as Costco and Sam's Club also may offer great deals on the same items you're looking at in smaller retailers. Comparison-shopping on big-ticket items such as cars, TVs and furniture can pay off handsomely. I also recommend shopping around for financial services products (e.g. loans, CDs and insurance), as rates often differ significantly.
By shopping around and taking advantage of discounts and freebies, you can cut back your spending without cutting back your fun or consumption. And that means that in the end, you'll be able to afford more of your wants.
Ben's column runs biweekly Thursdays. He can be reached at b.grosz@cavalierdaily.com.
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