Frugality

I Can Drive 55

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With apologies to Sammy Hagar I must say that I can drive 55. Maybe it is because when I was growing up and first started driving the national speed limit was 55 mph. I was used to going 55 mph and it seemed fast enough. Of course once the speed limit was lifted I started driving over 55 mph but now that gas is more expensive going back to 55 mph doesn’t seem like that bad of an idea. Slowing down to 55 mph does make a noticeable difference in you fuel efficiency.

There is even a national campaign to bring back the 55 mph speed limit. It isn’t likely to work and I’m not even sure it is a good idea. I regularly drive on a stretch of highway with a 55 mph speed limit and the average speed is about 70. Reducing the limit probably won’t slow people down it will just increase tickets. The current speed limits need to be enforced better before they lower them.

That being said I think people should voluntarily drive 55 mph. It not only saves gas it improves safety. Some dispute whether the 55 mph speed limit actually saved lives but it is clear that probability of injury and fatality increases with increasing speed. If you’re in a 70 mph zone you might need to go a little faster than 55 mph so that you’re not drastically slower than the other traffic. You should still try go as close to 55 mph as safely possible though.

I know most people aren’t going to voluntarily start driving 55 mph anytime soon. There are more willing to do it now that gas is more expensive though. Maybe if gas gets expensive enough more people will see the benefits of driving 55 mph. Or if that is too much maybe there can be a compromise at 60 mph.

Advanced Strategies for Saving on Law Books

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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

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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

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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.

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My Latest Money and Health Hack

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My latest money and health hack involves not buying a parking permit for school this semester. That saves me the $96 cost of the permit. I have classes starting at 8am Tuesday,Thursday, and Friday. If I arrive on campus by 7:30am I should be able to get a parking spot on the street. If not I can park at metered parking for $0.75 an hour. Having to feed a meter should provide me some motivation to get to school early.

Now for the health part of the hack. To be absolutely sure that I can get a parking spot on the street I plan to arrive to school before 7am. I am going to just get out of bed, get dressed and go. I’ll need to take my shower at the fitness center and since I’m already there I’ll get a workout in. This is somewhat like the plan I had earlier this year to go without hot water at home, forcing myself to shower at the fitness center. That plan was derailed by the closing of the locker rooms and showers for remodeling of the fitness center. Since the remodeling is all finished the plan should work this time.

There is one more way this plan should help my money and health. In the past I usually went out for a fast-food lunch when at school. I can’t do that now because I’d be extremely unlikely to be able to find another parking spot on the street when I returned. This means I’ll need to pack my own lunch which will be cheaper and healthier than a fast-food meal.

Using this hack will make it simpler for me to save money and improve my health. I’d love to hear any money and/or exercise hacks you guys have.