Sure this man looks like he won the lotto, but we like to say he just saved a lot of money from taking these simple tips!
By Sona Kim
Published: October 15, 2013
Being a college student carries a hefty price tag. All that money spent on tuition, the latest iPhone, books, food, metro cards, and that daily morning coffee make you wonder at the end of the day if you were robbed on the subway or if your little sibling went through your wallet. Maybe, but probably not.
Since Baruch is located in the city, spending money can be a bit more tempting. I mean, who can resist a juicy burger and a box of hot cheesy fries from Shake Shack at Madison Square Park only two blocks away? I know I definitely can’t. If I really need to suppress my Shake Shack urge, I walk around the park. But sometimes that fails too.
Being a school dominant of business majors, we should all know where our money is going: into our savings… Not!
A majority of students report that money spent on food, coffee, textbooks, and entertainment are the ultimate factors that leave a burning hole in their wallets.
Here are some tips on saving money after asking Baruch students what makes them broke:
1. Pack your own lunch. Ask any student here where their cash goes to and I guarantee almost everyone will reply “food.” Food can be extremely pricey depending on the neighborhood and it isn’t any cheaper here in the Flatiron District. Those who do pack their own lunches like to bring homemade sandwiches or containers packed with left over dinner. That is already two meals easy to ensemble and ready to go. Every college student should get into the habit of doing this. It’s not fifth grade anymore where mom wakes up every morning to pack lunch in your favourite superhero lunch box.
Have a long break? A few students who live nearby say they go home sometimes to eat during their extremely long breaks. One student, Chen* says she goes home to eat lunch by utilizing her unlimited metro card (even better!). While this may not apply to many, if you can do this or have time, do so!
In the long run, packing your own food could save you hundreds of dollars a semester. This is when you tag along with mom to the supermarket and stock up on different types of bread, ham,cheese- you know, basic sandwich ingredients. Don’t forget the lettuce—got to have your veggies… right, mom?
2. Buy in bulk. Last year, 11 billion dollars were spent on snacks alone. If you see that you buy certain breakfast bars or snacks multiple times a week from the vending machine, you mostly likely will continue to do so. You may only think “it’s just a dollar,” but if you buy that granola bar just three times a week, that right there costs equivalent to a box of granola bars. Costco, Target, and Wal-Mart sell snacks at a very affordable price, and even better when they are on sale!
2. Invest in a coffee maker. Oh, and a tumbler. Trust me. You can find a decent coffee maker without breaking the bank for around $30. If you have to have your daily coffee fix (I need my daily French vanilla soy latte!), investing in one can save you hundreds of dollars year round. A tall beverage from Starbucks can be around $3-$4 and if you drink one every day for two semesters, that’s equivalent to an efficient Keurig coffee maker and an armful of grounded Starbucks coffee bags. If you can’t afford one yourself, ask your parents for one. I doubt they will say no if you are trying to save money.
And… there are the Starbucks addicts. I know I am. If you are, register for a card. In the long run, it can save you a lot of money with their star-reward system and free refills at the store. If you are a gold member, don’t forget to take advantage of your free drink after your twelfth star– get that Venti and indulge in something that’s expensive; something that you wouldn’t normally get. Treat yourself! You earned it after all for investing all that money into them.
2. Buy textbooks online. While the student store may be of great convenience since you don’t have to stress over the horrible timing of FedEx, it is also inconvenient to your wallet. Renting it from the student store is just as pricey as buying one. Students who have bought textbooks from the store say they now regret wasting hundreds of dollars on those textbooks when they could have invested that money elsewhere. Sites such as bookrenter.com and textbookRentals.com let you rent for a period of days at a very affordable price compared to the rental costs at the student store. You can also buy textbooks or books at a cheaper price from eBay and Amazon, who also rents out textbooks as well.
4. Stop buying water bottles.Instead of paying that two dollar bottle of water in the city every day, refill your bottles at the fountains in Baruch that are on every floor! Use those free sustainable Baruch water bottles people! You are saving the environment and your money. How can it get any better than that? Water is a free resource here so do not waste your money (and plastic) on something that you can get for free!
5. Entertainment. Everyone wants to have fun. But fun is one thing and the cost of it is another. A lot of my friends tell me “you can’t do anything in NYC if you have no money.” Hold up, that is absolutely false! Don’t define fun in NYC as “having an expensive dinner in Gramercy and a front row show at Broadway.” You do live in one of the greatest cities and one of the best things about this city is our free entertainment and it’s not window shopping. Yes, there is always something free going on every season, every week! If you are an art and museum person like I am, there are over a hundred museums and cultural sites here in NYC. Some are free daily while some are free on certain days, and some even offer a pay-what-you-wish option on select days or hours which is great during the winter if you want to have fun indoors! Enjoy the beautiful flowers bloom at parks and gardens in spring time, and during summer and fall take advantage of free movies, concerts, festivals, events and plays at parks!
6 Websites where you have no excuse to be bored in NYC:
http://www.newyorkled.com/nyc_events_Free_Concerts.htm#
http://www.nycgovparks.org/events/
http://www.niftynyc.com/events/tags/free-new-york-city-events/
http://freemuseumday.org/nyc.html
http://www.nyc-arts.org/collections/35/free-museum-days-or-pay-what-you-wish
*Only last names were used in request of the participants.
