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⇒ Student & Scholar Advising ⇒ Living in the US ⇒ Budgeting and Saving Money

Budgeting and Saving Money

Clothing/Household Items

• Check classified ads regularly for moving sales and garage sales.
• Shop in thrift stores, especially outside of Bloomington where fewer students go.  Bloomington has Goodwill, Opportunity House, the Thrift Shop, and Salvation Army.
• Go to end of season sales at major department stores.
• Try the outlet malls in Edinburgh or Seymour.  They have brand name goods at a discount.
• Big Lots and General Store located on West 3rd St. have inexpensive alternatives.

Food

• Keep an eye out for sales, and stock up on things you use often.
• Cook your own food from basic ingredients.  This is not only cheaper, but much healthier, if you watch what you cook.
• Don’t eat out!
• Buy generic brands instead of name brands.
• Use coupons from the Sunday newspaper, or other publications.  Coupons are doubled at some stores, such as Kroger.  For example, if you have a coupon for 25 cents off, it will be worth 50 cents off.
• Cook larger quantities of food and then freeze some for later.
• Carry a lunch with you from home if you live off campus.
• Share with friends.  Food is cheaper when you buy in bulk and then cook together.

Entertainment

• Drink, cook, and enjoy recreation at home with friends.
• Go to the cinema before 4pm for the matinee rate.
• Watch movies at the Union or from the Ryder film series.
• Check out books, magazines, videos and CDs from the Monroe County Public Library on Kirkwood.
• Use the internet.
• Attend the free musical concerts presented by the School of Music.
• Visit museums, many are free.
• Hiking is free!  Try Morgan-Monroe State Forest, McCormick’s Creek, Brown County and/or Spring Mill State Park.

Housing

• Share an apartment off-campus to lower living expenses.
• Try to sign a nine-month lease so you will not waste money if you leave town for a summer internship.
• Residence Hall Assistantships are open to international students and provide free room and board and a small stipend.
• Living with roommates not only reduces cost of rent, but also monthly utility and phone charges.
• Keep your apartment heated or cooled moderately.  Put on a sweater if it is too cold, instead of turning up the heat.  Turn off the heat or air-conditioning when no one is home.
• Don’t get cable TV, or if you do get it, only get the basic package.
• Don’t break your housing contract!
• Start your search for off-campus housing early (January, February, March) to get cheaper places.

Books

• Borrow books from the library that are recommended but not required for your classes.
• Buy or borrow used books directly from other students.
• Buy used books online.

Health

• Buy generic cold/flu medicine.
• Bring all of your medical documents to receive waivers on immunizations and mandatory health insurance.
• Emergency medical care is expensive.  Don’t use it for routine problems like colds and flu.

Transportation

• Drive older cars to minimize Indiana’s out-of-state excise tax.
• Live within walking or biking distance to school.
• Check notice boards around campus for second-hand bikes for sale.
• Don’t buy a used car unless you are knowledgeable about mechanical stuff or take the car to be approved by a mechanic before you buy it.  Car repairs can be very expensive.
• Take an IU Campus Bus or Bloomington Transit.  If you can live without a car, do so.

Other Tips

• Beware of extra fees and charges, for delivery, etc.
• Go to your bank’s ATM, so you don’t get charged extra money.  Keep the appropriate minimum balance in your account, so you don’t have to pay a monthly fee.