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Everyday Saving Tips

Why Save?

  • To achieve your financial goals it is important to plan and save.
  • Life is full of surprises and it is important to have something tucked away in case of an emergency.
  • Interest allows you to make more money with the money you already have.

Tips on How to Save

Students should always be on the lookout for ways to save money.

Debts

  • Pay your debts on time. Interest charges add up quickly. You can save significant amounts of money by paying off amounts owing as quickly as possible.
  • Try to eliminate lines of credit at stores or using credit cards for everyday purchases. If you want something bad enough, wait and plan for it in your budget. It is easy to fall into the credit card trap, especially for students.

Rebates

  • Always ask about instant rebates such as student discounts.
  • Keep an eye out for coupons and specials for restaurants, movies, shows, groceries, etc.
  • Take advantage of rebates! The movies are cheaper on some nights and perhaps your favourite restaurant has nights where entrées or appetizers are 50% off.

School

  • Always return you books on time to the library, avoiding unnecessary late fees.
  • Buy your books second-hand on my.mun.ca, the Used Bookstore, the Attic (Post Office), or check flyers posted around campus.
  • Sell your old school books that you no longer need.
  • You can buy used computers at a discount for the University Computer Store along with various computer programs and operating systems.

Transportation

  • Buy a monthly bus pass to get the most rides for your money.
  • Check billboards for postings about car pooling.
  • Walk whenever possible.

Food

  • Make a grocery list ahead of time to avoid unnecessary purchases.
  • Eat before you shop.
  • Buy no-name products; they are cheaper and just as good.
  • Prepare lunches and snacks at home.
  • Make large batches for supper and freeze them; if you know you have something waiting at home you will be less likely to stop at the drive-thru.

Insurance

  • Get information from your insurance company about reduced rates for students.
  • Make use of direct billing to avoid a delay in getting money back from your insurance provider.

Banking Services User Fees

  • Use electronic and automatic services such as the Internet, telephone, and ATM.
  • Reduce the number of transactions you perform to minimize service fees.
  • Make one big withdrawal instead of numerous small ones, or take out cash from a vendor when you make a payment with your debit card.
  • Avoid using ATM’s from other banks. You can be charged a fee by both that bank and your own. Especially avoid private ATMs because they are particularly expensive to use.

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