Wealth Logic Solutions

Big tuitions are only the start of college costs. Here’s how to get a handle on all the other little expenses that can add up to a big bill at the end of the semester.

By Gerri Willis, CNN

July 26 2007: 2:48 PM EDT

NEW YORK (CNNMoney.com) — You’ve spent years pinching pennies to pay for Junior’s college tuition. But now that he’s heading off to campus, you’re about to be hit with some other bills. You may expect to pay for textbooks, but watch out for the pizza bill and bar tab. Here’s what you can do to cut these college costs.

1: Cut textbook costs

Students are estimated to spend between $700 and $1000 annually on textbooks, according to an Advisory Committee on Student Financial Assistance.

But students don’t have to shoulder all that cost. Check out abebooks.com, an online book site where you can get used and international books below bookstore prices.

Students will also want to check out eBay’s (Charts, Fortune 500) half.com orCheapesttextbooks.com to do a bit of price comparison. Besides these on-line sites, more help may be on the way.

Some states are cracking down on overpriced books at campus bookstores. Some are waiving sales tax. Others are separating out CD-ROMs from textbook orders.

2: Get the discounts

College-age students spend almost $28 billion a year on food, clothing and entertainment according to Alloy College Explorer, a college marketing research program run by Harris Interactive. But don’t despair, there are some deals and discounts out there specifically designed for college students.

Check out studentadvantage.com. Here you’ll be able to buy a student advantage card that will give you discounts with Amtrak, Greyhound or Target (Charts, Fortune 500). And here are a few sites that will outline what other discounts students can get, from movies and international travel to computer software. Check out fatcampus.com.

3: Keep track of debts

With nights on the town, dinners out and financially strapped college kids get together, it can be a recipe for disaster figuring out the final tab. But there are some online budgeting tools to keep track of who owes what. Buxfer.com is an easy way to keep track of individual or group expenses.

You can then set up groups to divide expenses evenly or track your other monthly budget expenses. Billmonk.com is another free site that lets you track who’s been borrowing your books or CDs. It also keeps track of who owes you money, and who you need to settle debts with.

4: Protect your biggest asset

A full-time student may be covered in the family’s health plan until he or she graduates from college, but frequently, the student health service center doesn’t accept outside insurance.

Find out if your insurance will be accepted by the campus health center before your kid heads to class. Colleges may charge you health clinic fees that can ranges from $1,000 to nearly $2,000 according to Jim Boyle of College Parents of America.

You can also check out student health insurance policies, which can be as cheap as $20 a month. Go to Stuhealth.com to see some options.

Plus, if your child is going to be living in a dorm or in off-campus housing, you’ll want to look into insurance for all their stuff - from the TiVo to the laptop.

College cost reduction bill introduced

Check out renters insurance. Some colleges may not tell you to buy renters insurance, because they don’t want to advertise that there could be theft or damage to property on their campus.

You may be able to get a deal if you sign up for renters insurance through the same company you have your own homeowner’s policy with.

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!

FROM: www.bankrate.com

1. Every few months, comparison shop to see if you’re paying too much for your telephone calling plan. If you find a better deal, contact your phone company and negotiate — or switch.
2. Cancel all the extra services you don’t use such as call waiting, caller ID, voicemail, call forwarding and three-way calling.
3. Switch to a smaller, lower profile company for long-distance service. Not only is the service cheaper, but usually there are fewer fees.
4. Check your long-distance carrier’s call-rounding policy. Many smaller long-distance companies offer six-second call rounding, rather than rounding up to the next minute. The more short calls made or faxes you send, the more you save with six-second rounding.
5. Some low-cost carriers may charge a fee if you receive a paper bill. Sidestep this fee by paying your bills online.
6. If you make a lot of long-distance calls within your state, choose a calling plan with a low intrastate rate.
7. Drop your long-distance carrier altogether if you make infrequent long-distance phone calls. Instead, use a prepaid phone card, a dial-around service or even your cell phone if you’ve got the minutes.
8. If you’re always on the run, consider swapping a land line for a cell phone. You’ll save on the monthly service fee, taxes and long-distance fees for a land phone that’s rarely used.
9. Don’t exceed your allotted monthly cell phone minutes. Zero in on your calling needs to find the best plan for you.
10. Cell phones can be expensive, especially if you’re footing the bill for a houseful of users. Do a “needs analysis.” Dump the phones that aren’t absolutely necessary.
11. Go wireless at your weekend or vacation home. Occasional but pricey cell phone calls may still be cheaper than the cost of installing and maintaining a bare-bones land line.
    

Illustrations by Russell Cobb

25 Ways to Cut Costs on Just About Everything By Russell Wild, March-April 2003 Save a little here; save a little there. It all adds up to real money.

Think you know everything there is to know about saving money? Bet you didn’t know about the Amish mail-order catalog that practically charges thrift store prices for brand new clothes. Or about how to take a luxury cruise for just $28 a day. Read on to save a bundle.

Sweat For Less. One way to get in shape cheap: Sign up for a class at a local community college (as little as $35 a semester). Then, use your ID to work out at the gym. Save $255 on the typical annual cost of a gym membership.

Tee Off. Like golf? Buy clubs, shoes, and other gear for 20 percent less than retail at www.golfdiscount.com (call 888-394-4653), says Elizabeth Cline, author of The Bargain Buyer’s Guide.

Blow Cold. A solar attic fan (about $375) pushes hot air out of your attic, cutting the work required of your air conditioner and typically trimming your electric bills by about $100 a summer.

Fly Right. Take a working vacation with Volunteers for Peace (802-259-2759; www.vfp.org). The full cost (excluding transportation overseas): about $200 per two-to-three-week program. A bonus: It’s tax-deductible.

Dress Amish. For simple, sturdy clothes, check out Gohn Brothers, which caters mainly to the Amish but sells to anyone. You’ll usually save one-third off retail prices. Get a pair of denim pants for $21 (that’s at least $10 right there). For catalog, send $1 to P.O. Box 1110, Middlebury, IN 46540.

Slow Down. What’s the rush? Driving 55 mph burns 15 percent less gas per mile than driving 65. The typical driver can save $135 a year this way.

Follow The Sun. A solar roof panel might cost $2,500 or more to buy and install, but it can cut your annual water-heating bills by about $400. Find a contractor through the Solar Energy Industries Association (202-628-7745; www.seia.org).

Wear It Well. Find beautiful clothes in consignment shops—but not just any consignment shops. “Go to the shops closest to the richest neighborhoods,” suggest Ken and Daria Dolan, who host the syndicated radio show The Dolans. Snag a $250 designer dress for $70.

Cut A Deal. The Video Learning Library (800-383-8811; www.videolearning.com) stocks 20,000 how-to videos to rent or buy. One we like: “Haircutting at Home.” Tape rentals: just $8 for two weeks, plus $10 for roundtrip shipping. Save $72 a year on haircuts alone this way.

Become A Writer. Always jot down a list before heading to the supermarket. Then stick to it. You’ll avoid such costly and frivolous items as premade caramel apple “wrap” and instant bacon. You can save hundreds over the course of a year.

Pack It In. Traveling overseas? Sell your baggage space to a courier company to save up to 85 percent on your next flight. For information on reputable companies, contact the International Association of Air Travel Couriers (308-632-3273; www.courier.org).

Bank Better. Want the lowest-cost mortgage, the lowest-interest credit card, or the highest rates on CDs? Visit www.bankrate.com. Plug in your desired deal, and see what pops up. One recent example: a Mastercard with a 4.25 percent interest rate.

Take A Seat. Season tickets at The Austin (Texas) Symphony cost up to $275, but thrifty music lovers get in free by serving as ushers. Many concert halls and theaters across the nation do the same. Call your local theater to find out if it needs help. Or search the Internet, using the keywords “volunteer,” “usher,” plus your hometown.

Bundle Up. If possible, insure your car and your home with the same firm. Buying insurance in bulk has two benefits. First, you’ll save money. Second, if you have an accident, you’re less likely to get dropped, since your insurer wants to keep all your business. Trim up to 15 percent off combined annual auto and home insurance.

Get Well. Having trouble paying for medications? Contact the Pharmaceutical Research and Manufacturers of America (800-762-4636; www.phrma.org) for its free “Directory of Prescription Drug Patient Assistance Programs.” Income restrictions apply. Save $1,050 on a year’s supply of Vioxx.

Add Some Spice. Seasonings usually come in packages that are tiny. Buy them in one-pound bags from the Atlantic Spice Co. (800-316-7965; www.atlanticspice.com) to save up to 90 percent off list. Minimum order: $30.

Ditch The Fir. Must your next Christmas tree be fresh-cut? Pick a large houseplant—a ficus, say—and decorate it just like a spruce. Put $35 in your stocking.

Beat The Crowds. Always shop for holiday cards, decorations, and gift wrap as the season ends, and keep them for next year. Save 75 percent or more. (Just don’t forget where you stored them.)

Score Points. Go shopping during major sporting events like the World Series or Super Bowl Sunday. Stores are empty, and salespeople are eager to dicker. Knock at least 2 percent off list price.

Call Late. The best airline fares typically go to those who call just after midnight, East Coast time. That’s when airlines decide whether a flight is full and begin slashing prices if it’s not. Fares can drop by anywhere from $50 to $400.

Move In. Considering a new home? The best time to buy is in the dead of winter, when other buyers huddle inside. (Likewise, in the Sunbelt, wait until summer’s dog days.) You can save 5 percent off the peak-season price.

Check It Out. Your bank may charge up to $20 for a box of replacement checks. Use independent printers instead. Checks Unlimited (800-426-0822; www.checksunlimited.com), for one, charges as little as $8.95. Or try Checks in the Mail (800-733-4443; www.checksinthemail.com).

See Double. Share three magazine subscriptions with a like-minded friend to save at least $20.

Trim The Fat. Once a year, put all your finances under a microscope. A prime cost-cutting target: unnecessary insurance. For instance, you may be able to drop the credit-life insurance that is often buried in the contracts for cars, major appliances, or mortgage loans. Sure, doing this might save you as little as $4 monthly, but you’ll reap a bigger benefit: that special sense of satisfaction that you get from dumping something you don’t need.