So, we’re all feeling the crunch of the credit crisis. We may not have lost billions of dollars and “Cribs”-worthy mansions through the fraudulent schemes of Bernie Madoff but we’re constantly reminded of the economic woes of our country every day when we turn on CNN or hear our parents complain about having that many more years until retirement. The Wall Street Journal Web site even has an entire tab devoted to covering Bernie Madoff, and the commonwealth of Virginia has cut our funding — heads up, Tina Fey and all other wealthy alumni.
In light of the situation, I have come up with a few easy ways we can save some money. We’re all aware of Monster.com and are clearly capable of picking up part-time work. But really, who wants to do that? I have some simpler and less time-consuming methods that can save you bundles.
One thing it seems we spend too much money on is coffee. At the ubiquitous coffee shops around Grounds, a tall — code for small in faux-hipster talk — latte will generally set you back at least $2.50. This is a conservative order; it typically doesn’t include any add-ins like whipped cream or flavor shots. Additionally, a latte pales in both taste and price to the macchiatos, frappuccinos and other chocolaty concoctions offered. Meanwhile, you can buy a 10-cup coffee maker for less than $30 and a sizable can of coffee retails for a little over $10. A coffee machine will last you the rest of the year — even beyond that — and a can should satiate even the worst coffee addicts for two weeks. The money this investment will cost for an entire year would last only a month with a 5-days-a-week coffee shop habit.
Along with coffee, we can easily save on food. A student will probably eat at a restaurant three times a week. One piece of advice here will go a long way: Choose your restaurants carefully. Not only can you find a meal for $3.50on the Corner, but you’ll often find that the portions are larger than you might think.
Next, you can save money by slightly changing your social life. A drink on the Corner could cost $4, yet fraternity parties are free. Yes, they may be loud, sweaty, dirty and describable by countless other unattractive adjectives, but desperate times call for desperate measures.
Of course, if you are going to start hitting the fraternity scene again, you have to be equipped with your brand-name fleece. These may retail for a couple hundred bucks, but are available on eBay for only about $70 plus shipping and handling. And though you may be freaked out at the prospect of wearing used clothing, you’ll undoubtedly leave a party with someone else’s identical jacket at some point and wear it for a week until you notice his or her name written in Sharpie ink on the label.
Finally, I can’t overlook the fact that we come to school to learn. There are ways to save some extra cash in the academic realm, too. Contrary to modern financial theory, I’ve identified an ongoing opportunity for arbitrage. You can make money free of risk by buying textbooks on your parent’s tab, then selling them back for cash — wow, I hope my parents never read this — and voila, it’s like the bookstore is your personal ATM.
Clearly, there are many ways for us to get some extra money in these straining times. I encourage you to be creative, as these are just some of the basics. I didn’t even mention my habit of attending career fairs just for the free pens or my penchant for renting DVDs from Clemons. Just think about some ways to save, and don’t invest in anything too sketchy, like Ford stock or Anne Hathaway’s boyfriend’s fund. Follow my advice, and you should be OK. And if none of that suffices, at least we always know there’s a job for us somewhere, whether it’s on CAVLink or at a drive-thru window.
Abby’s column runs biweekly Fridays. She can be reached at a.coster@cavalierdaily.com.
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