Saving Money and Paying of Student Loans or Living as a"poor"student

[ImNotWitty]

Ok folks, I just stole some ladies' ideas from another thread. I really wanted to see their idea on a thread. Thanks to vixen007 and just cause as well as OP.

They were on a thread talking about the repayment of loans. It turned to the flailing economy and how we need to live frugally even as nurses to pay back the debt. Also someone mentioned living as a broke student.

I am sure the majority of us are feeling the economic crunch in some way right now. My family's breadwinner was let go about three weeks ago and Florida is backed up many months to recieve unemployment, in some cases. So we need to find/ share ways that we can feed our families, save on shopping and attempt to save for a rainy day or that time when loans start to kick in.

As for myself I only shop for clothing for the kids and I in thrift stores. I also purchasre all my books that I read there. I also buy alot of generic brands when I grocery shop. For savings on electricity we make sure to unplug EVERYTHING that isn't used. For instance all the cell phone chargers, etc. They will burn up if you leave them plugged in anyway. We also make sure the ac is on 78 degrees and the filter is changed monthly. As for our transportation I bought my Honda outright. We are driving that while my BF's GTO sits in the garage until he finds a job that can pay for the premium gas and synthetic oil changes! But he keeps loosing my keys.......I might have to rethink that one.

I wish that I had an more thoughts on crock pot and cheap type meals but that is definately not my strong suit. I hope some of you can share with us ways you help your family get by, in these times. Although I do have one recipe that I love I'lll post in a bit.

Thank you in advance, I hope we can a learn a thing or two!

[amarilla, RN]

I hear you!

The last two years have been tough for us; DH is riding the waves with his small business and I've been battered by the scandals of the financial sector. I worked for a Fortune 500 brokerage, (my dream job, really), until the turbulence began to hit our firm; my entire department was terminated and the whole office closed. *sigh. Finding work - let alone something that paid even half of what I formerly made - was an exercise in futility. I took two jobs - one paying decent and one not so much so, (waiting tables), until school started. Nowadays, I still work and try to pull in any extra money that I can, (copywriting, small consulting work, etc.)

To go back to school and still stay afloat, we cut back big. Moved into a smaller place. Continue to rent for a few more years instead of buying our own place. Sold my truck, (our second car.) Everything unnecessary or unused in the house was sold on craigslist or eBay. I regularly redeem coupons and check out rewards and points programs for stores or services we use often. I check books out from the library instead of going to the bookstore, (something I used to love.) Video games are rented instead of purchased. I check the unit prices and buy in bulk at Costco for most things.

For groceries, I try to buy things that can be used for several different types of meals. That hamburger meat in the freezer could be sloppy joes, burgers, stuffed peppers, the heart of a good gravy, and so on. Speaking of gravy: I make a pot of tomato sauce every other week or so, freeze it in small tupperwares, and DH uses it for everything from sandwiches to chicken w/mozz to roasted eggplant. If I'm not sure we'll use something up, I stop by the grocery store and buy only what we need, (example: buying a few fresh apples for lunches instead of a 5 lb. bag that will probably go bad before being eaten.) I buy the crystal light pouches/drink mix packets and use a water bottle instead of buying bottled water.

With the house: I tried to think of what we use and what we need. I dropped our regular telephone service and switched to vonage unlimited, saving quite a bit of money. I only have a pre-paid cell phone now, (didn't use it much to begin with), and only pay for the days I use it. As mentioned above, I cleaned out the house of most all things we don't use, (an old tv, microwave, etc.), and sold them off. While I was at it, I sold or donated all the clothing no longer worn or wanted. For me, it helps to know what we have and what we don't.

:)

Best,

Southern

[NeoNurseTX, RN]

I die of a heat stroke if I left my thermostat on 78! Maybe I should just open the windows now that it's chilly outside...

I just bought a crock pot recipe book that is full of recipes with 5 ingredients or less. (I'm not much for cooking...AT ALL..)

It's called Super-Fast Slow Cooking by Gooseberry Patch, ISBN 978-1-933494-55-5.

[Multicollinearity, BSN, RN]

Here's my latest money saving deal. I canceled my land line and switched to MagicJack. It's $39 for the first year of phone service over the internet. This includes call waiting, voice mail, caller ID, long distance to North America, etc.

I find I cannot use my computer when I'm on the phone with MagicJack, or the audio is distorted too much. Sometimes I get an echo and garbled sounds. But overall, in my opinion, it's definitely worth the audio snafus to save a few hundred dollars a year on phone service until I graduate. Some may not be willing to put up with the sometimes-occurring audio distortions. You might want to keep your landline until you know if MajicJack will work for you. I'd only recommend it if you have a cell phone for back up. For cell service, I got a refurbished used phone through AT&T for $4.99, and I prepaid with $100 that expires in a year at 25 cents a minute. I use it just for important things, not chatting.

End result - $145 for a full year of home service with MagicJack and a back up cell phone for urgent things. Not bad for unlimited service at home and a cell phone! I (((loved))) canceling Qwest and my $60ish per month/$700/year relationship!

[ImNotWitty]

Yes Majic Jack is GREAT! I can use mine while on the pc though. Sometimes it echos a little. We had it a while ago so we paid NOTHING. But now we have to pay $20 to renew per year.

Unfortunately for me I am on the road alot and had to have a cell phone. As well as other reasons and I have 3 lines on a 2 year contract, cause Tmobile renews if I had the 7 key or breath too hard into the phone!

Good ideas keep em coming!

[RN1982]

I've been making large pots of soup/chili and freezing small containers of them to take to work and to have at home. Its cheaper to make a big pot of soup than it is to buy dinner from a fast food restaurant. I also get my veggies at a farmers market rather than the grocery store because the quality is better and they seem to last longer. I buy organic milk because it lasts longer almost a month or longer. Its a bit expensive but it will last if you don't drink milk that often.

I've been following Dave Ramsey's Total money makeover book. I paid off most of a student loan and I have 150 bucks left. The only thing I did wrong was I took money out of my savings to pay a large bulk of it off, like 650 bucks but its one thing off my back.

My cellphone costs me about 60 bucks a month. I have cingular and I get a discount through work so the rate plan is 30 bucks plus taxes/charges. I also have text messaging. I recently switched from the 15.00 text message plan to the 4.99 text message plan as I've not been using them as often so I get 200 texts per month.

I use a lot of the energy efficient lightbulbs and I keep my thermostat at 67 degrees when I'm home. My cable/internet isn't too bad, about 70 bucks a month for basic digital and internet with cable modem.

I drive a 2006 Saturn Vue. I have 7800 bucks to pay off and after its paid I'm driving it as long as I can. I only have about 40k miles on it. I think leasing is evil and wouldn't ever do it. I think its a waste of money when you can put that money towards a used car.

[Multicollinearity, BSN, RN]

I've just started selling things on ebay. It's actually quite easy. I'm amazed at what people will buy. I'm selling things like lipstick tubes I got a few years ago and never tried, like in gift with purchase type things. I'm also selling some Christmas presents I received.

I think I've made $80 this week just selling little things around the house that I forgot I had.

[RN1982]

My other suggestion for students is when you get a list of required books, see if you can find them used on the internet. It beats paying 150 bucks for a nursing book.

[ImNotWitty]

My other suggestion for students is when you get a list of required books, see if you can find them used on the internet. It beats paying 150 bucks for a nursing book.

My bf was actually let go from an auto industry job...................so that made me giggle a little.

And I agree half.com (an eBay Company!) and amazon.com GREAT resources also craigslist. Speaking of which I need to list some books on half.com tonight!

[Multicollinearity, BSN, RN]

My other suggestion for students is when you get a list of required books, see if you can find them used on the internet. It beats paying 150 bucks for a nursing book.

So true. I purchase most of my textbooks through Amazon or half.com. I compare prices and figure out how much I save compared to the campus bookstore. This semester I saved over $300.

[RN1982]

And every little bit helps.

[christieb01]

Also, as far as books (for school and for personal reading), try the library. I know several students who have been able to borrow their textbooks from the library. They have to wait a few days usually, because it comes from another school (through Ohio-Link). Public libraries also have quite a selection as well as DVD's, etc.

We also enjoy going out to dinner sometimes and I always look for coupons. Sometimes I have to sign up for an e-club through the restaurant but they send coupons a few times a year. Local TV stations also offer reduced price gift cards to restaurants once a week. (you have to be pretty quick to get them though because there is a limited supply)