“One-Less” Strategies Can Mean Real Savings for Your Students
Graduate and professional students and adult learners often find that they have to downsize and adjust their standards of living to meet the lifestyle and budgetary demands of continuing their studies.
"Reentering School — How Do I Adjust My Standard of Living," the new minimodule from the USA Funds® Life Skills® financial-literacy program, offers "one-less" strategies to share with graduate or professional students or adult learners who are struggling to find ways to save money to meet their educational expenses.
The following list of small sacrifices, and the savings that result, can help you show your students how cutting out a few expenses over time leads to significant savings:
| "One-less" … |
Monthly savings |
Annual savings |
| Dining out per month |
$50 |
$600 |
| Car wash per month |
$15 |
$180 |
| Manicure per month |
$20 |
$240 |
| Movie per month |
$9 |
$108 |
| Cappuccino per week |
$12 |
$144 |
| Magazine per month |
$4 |
$48 |
| Fast-food meal per week |
$40 |
$480 |
| Toll-road fee per week |
$8 |
$96 |
| Candy bar per week |
$4 |
$48 |
| Drink with meal per week |
$8 |
$96 |
| Music CD per month |
$15 |
$180 |
| Soft drink at school per day |
$20 |
$240 |
| Haircut per year |
|
$50 |
| DVD rental per month |
$4 |
$48 |
| Ice cream per month |
$3 |
$36 |
| Novel per month |
$24 |
$288 |
| Dinner party with friends per month |
$50 |
$600 |
| Vacation per year |
|
$1,200 |
| Pair of shoes per month |
$50 |
$600 |
| Concert per year |
|
$100 |
| Round of golf per month |
$50 |
$600 |
| Pro-basketball game per year |
|
$150 |
| Gift purchase per year |
|
$50 |
| Dessert “out” per week |
$20 |
$240 |
USA Funds Life Skills suggests that students select the "one-less" strategies that they are willing to follow and consider whether there are other items of which they could do with "one less."
More tips for coping with the costs of reentering school — as well as information about financial aid, completing school on time, succeeding in school and after graduation, and repaying education loans — are available in USA Funds Life Skills.
For more information about USA Funds Life Skills and its new materials for graduate and professional students and adult learners, contact your debt-management consultant. USA Funds Life Skills materials are available for ordering through the USA Funds Web site. Please allow two weeks for delivery of ordered
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