The charity drive didn’t go very well. I’ll have to figure out a way to better promote it and get more participation the next time I do this. I’d be glad to hear any suggestions you might have. I decided to go ahead and donate my max of $200 even though the actions taken didn’t come anywhere near that amount. I was hoping to raise even more money to donate but this is what I can afford right now.
Andy Hough
Advanced Strategies for Saving on Law Books
You should already be familiar with the triple-saving strategy. This is where you: 1. Buy your books used online from sites like Half.com or Amazon. 2. Visit these stores through a cashback shopping portal such as BigCrumbs or Ebates ($5 Sign-up Bonus). 3. Use a online coupon code from a site such as RetailMeNot.com for a further discount. If you make your purchases with a cashback rewards card than you can actually have quadruple savings.
It is actually possible to do even better than this though. You can save half off the price of a used textbook by sharing it with someone in your class. If you don’t feel like sharing you can buy a used textbook that is good for two courses. My real estate textbook for this semester is the same textbook I used for a different real estate class last semester. Since I’m getting double the use out of the book it is like getting it for half price.
Another strategy that should save you even more than 50% off a used textbook is to buy one edition back. I paid $5 for a book this semester that was available used in the new edition and would have cost me over $100 new. Glancing through the new textbook at the bookstore it appears there have been very minor changes between the editions. I probably wouldn’t have tried this strategy as a 1L but as a 3L I’m confident that it will work.
The best strategy is to take classes that don’t require a textbook at all. The clinic I’m taking this semester doesn’t require a textbook and I believe that is true for most other clinics as well. Or you can take a class where the professor has all the required reading material online. I’ve had a couple classes like this and there was an option to buy a printout for cheap at the university copy center but I found it unnecessary. Having my reading material on my computer was actually a benefit because it made it easy to copy and paste highlights to my notes.
Also consider how many credits the class you’re taking is. Buying a $100 textbook for a four credit class is a lot better deal than buying a $100 textbook for a one credit class. Sometimes you have to buy an expensive textbook for a one credit class but avoid it if you can.
These are several ways you can save money on your textbooks. This will save you a ton of money compared to what you would pay at the bookstore. All other things being equal when choosing a class take the one with the cheaper book, but don’t take a class just to save on the cost of a textbook.
Tight Fisted Miser Charity Drive
I haven’t given much to charity in the past but I’ve decided now is a good time to start. I’ll be seeing my aunt soon who let me live with her when I first moved to KC and wouldn’t take any money from me. Her husband died of cancer a few years ago and Cancer Action was very helpful during that time. I’d like to present her with a donation in her husband’s memory to Cancer Action and you can help increase the amount I donate. I’ll donate money for each of the following actions. I’ll donate $1 for every new subscriber here or at Bank Bonuses. I’ll also donate $1 for each account you sign up for on the Make $$$ with TFM page. I’ll also donate $1 if you let me know that you have made a donation. And I’ll donate $5 if you sign up for an account with FNBO Direct. You can do any or all of these actions. The maximum I can afford to donate right now is $200 but if enough people take actions that make me money I’ll increase the donation. I don’t have any way to track new subscribers or account signups so just leave a comment letting me know what actions you’ve taken. Thanks in advance for your help.
*This isn’t off to a very good start and maybe that’s because I wasn’t clear enough in the post. Anyway, I need everyone to leave a comment so I know how much to donate. To provide a little more incentive I’ll donate $1 for every comment left.
Class Warfare,Being Broke and Being Poor
Trent at The Simple Dollar recently had a couple posts on Class Warfare and Being Broke and Being Poor. These posts generated a lot of strong reactions and I want to share my own thoughts coming from the perspective of someone at the lower end of the financial spectrum.
The “Class Warfare” post sprang from this quote-“You paid off $17,000 in credit card debt in a little over a year? You’re not a poor person, you’re a rich person. You don’t have financial problems and you can’t relate to my situation. I will have to find another website to read.”- that Trent received from a reader. I can somewhat understand where the reader is coming from. It can be irritating to read on blogs how you should lower your expenses by turning off your cable or cutting out the daily latte. Any sensible person at a lower income doesn’t indulge in those luxuries anyway. Advice to spend less than you earn can seem irrelevant when almost all your earnings go to basic necessities.
Where to Keep Your Emergency Fund
There are a couple of schools of thought on where to keep your emergency fund. Many people like to keep their emergency fund at their local bank so they can get immediate access to their money. Others, including myself, prefer to keep their emergency fund in an online savings account for the higher yield, low minimum balance requirement, and lack of monthly fees. The drawback is that it can take a couple days to transfer your money to your checking account. My solution to this would be to use my credit card for the immediate spending needs and then pay it off when the funds transfer was complete.
Since I have opened a few online savings accounts in order to receive bank bonuses I’ve been able to compare which accounts I like best. My favorite is probably the ING DIRECT Orange Savings Account
(aff link). My affection for this account probably has a lot to do with the fact that I’ve made about $500 in referral bonuses from them. Their yield of 3.0% isn’t the highest but it is much higher than most banks and the referrals have more than made up any interest deficit. If you want to open an account with $250 or more and receive a $25 bonus just click on the link on the Make $$$ With TFM page.
My newest and highest-yielding account is with FNBO Direct. This account currently pays 3.50% and has no minimum or monthly fees. After you open the account you can receive a $25 bonus for opening an online billpay account.
Technically, my Wachovia Way2Save account is my highest-yielding account. I’ve been receiving a promotional 16% interest on this account and when the promotional rate ends I’ll still be receiving 5% . The catch with this account is you’re limited in how much you can deposit in it. There is a $25 referral bonus for this account as well which you can find on the Make $$$ With TFM page.
There are a lot more good online savings accounts out there. These are just my current favorites that I have personal experience with.