CURBING COLLEGE EXPENSES: Save and Spend Wisely

Welcome, Class of 2013. You have made a good decision to attend college. The U.S. government has poured trillions of dollars into physical capital but not enough into the most important capital of a society: human capital. By investing years in a college education, you are increasing intellectual capacity and, therefore, preparing yourself to be a productive member of the country.

Reading this post is a wise idea. I will try my best to share tips on business and financial issues, so that you can take control of your freedoms and stave off stress caused by economic downturn. My goal is to help you navigate your future. Most people are scared of this so-called “real world,” but it is not as daunting as you think it may be.

It is the first month of school, and the expenses are already adding up. You are probably wondering how you are going to make it through the year.

You won’t even open half the textbooks your professors claim you need. Find out from students who previously took the course whether the textbook is necessary. Trading textbooks with friends is the best way to save some cash.

“Every course requires the professor to provide the book at the school library for free,” said Farnoosh Torabi, contributing editor at Seventeen magazine.

School bookstores sell new and used books at unfavorable prices. Check out www.campusbooks.com and www.DealOz.com for the best deals. The websites filter all the major discount sites (eBay, Amazon.com, etc.) and find you the most affordable prices. On average, I end up paying approximately a quarter of the price I would have paid at the bookstore.

You may need your books the first few weeks of school, but buy them at the bookstore with the intent of returning them on the last day, so you’ll be able to get a full refund. That way you have them while your on-line purchases are being shipped. Do not tamper with shrink-wrapped items, as the bookstore will not accept was that are opened.

Universities charge unreasonable rates for meal plans. But when you look at how many meals you actually eat every week, you will find that many go unused. Find ways to use those unused meals – maybe they can be converted into credit at the local supermarket?

Stay tuned for more tips!

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Naresh Vissa — Taking Syracuse University by storm, Naresh is a third-year Renée Crown University Honors Program student, majoring in Finance, Accounting and Broadcast Journalism at the Martin J. Whitman School of Management and S.I. Newhouse School of Public Communications. Previously a writer for the ?Daily Orange? newspaper and Executive Board member of the South Asian Students Association, he is a Junior Analyst for the Orange Value Fund (OVF). Known as "the Ivy League within the Whitman School," OVF students take MBA-level finance classes, learn the ins and outs of value investing philosophies, and help research, report and manage more than 1.1 million dollars of investor money. As producer, Naresh books guests everyday and seeks media and business development opportunities to increase branding and overall listenership. With more than a year?s worth of experience producing more than five business shows at the BizRadio Network and CNN Radio, Naresh has booked more than 400 guests in the fields of finance, economics, business management & consulting, self-help, leadership, sales and marketing. He serves as a member of the Foundation for Economic Education.