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As TLS has already offered so much incredible help, I wanted to start this thread for current students to offer up helpful tips and advice for not necessarily saving money, but conserving as much money as possible through out the school year. Especially for those who don't have an exorbitant amount of savings, what kinds of things or practices have students lived by to stretch out their funds and make them last throughout the year?

JustHawkin wrote:As TLS has already offered so much incredible help, I wanted to start this thread for current students to offer up helpful tips and advice for not necessarily saving money, but conserving as much money as possible through out the school year. Especially for those who don't have an exorbitant amount of savings, what kinds of things or practices have students lived by to stretch out their funds and make them last throughout the year?

A) take advantage of every free meal offered by the school
B) skip the gym, lift heavy books and run between classes instead
C) live in the library

guano wrote: A) take advantage of every free meal offered by the school
B) skip the gym, lift heavy books and run between classes instead
C) live in the library

Aren't gym memberships usually included in school fees?

.

Learning how to cook things thats are relatively easy to make and actually taste good together quickly is a pretty useful skill just to keep you from going out for meals you can't get at school (or for when you get tired of the pizza they have at every event). And if you don't have a decent supply of professional clothes yet it is probably better to buy everything at once when you see a good sale rather than picking up one or two items throughout the year, I know I ended up spending entirely too much that way just because I didn't plan better.

The single best thing to do some research before finding a rental if you are moving somewhere new, and make sure you aren't overpaying for rent. I know a lot of people paying 150-300 more than what they likely could have found for comparable places because they weren't able to scope out the market before moving in. Also, try to find a paying 1L summer job or one that you can get funding from school or other sources to do, I understand that for some people who are deeply committed to working in a certain area it makes sense to work for free 1L summer, but if thats not you try to avoid it, or at least avoid working full-time and try to get a decent part-time job or RA with a professor.

Buy tubs of ON protein and don't order delivery all the time.

ETA: When on sale....never full price. LOL at GNC trying to charge people $60+

Bajam wrote:Buy tubs of ON protein and don't order delivery all the time.

ETA: When on sale....never full price. LOL at GNC trying to charge people $60+

Bb.com deals for days.

Thank you everyone for the productive input! Keep 'em coming!

Step 1: Get credit cards with sign up bonuses & good rewards
Step 2: Put all your purchases / airfare / tuition payments on said cards
Step 3: Pay off cards every month
Step 4: Profit!

I recommend:
Chase Saphhire Pref'd, Chase Freedom, Discover It, BofA's cash back card, US Bank Cash+, AMEX Starwood, Amex Blue something or other, and/or the rewards card for whatever airline you tend to fly on.

learn happy hours

drink at home

+1 to free lunch + cooking your own food as much as possible

Pls more details on this "pay tuition with credit card" scheme

anyriotgirl wrote:Pls more details on this "pay tuition with credit card" scheme

There aren't really any; it just depends on how the school distributes your loans and/or allows you to pay for your tuition & other expenses.

But the basic idea is use credit card>>get points>>pay off credit card.

brotherdarkness wrote:

RLowry23 wrote:

guano wrote: A) take advantage of every free meal offered by the school
B) skip the gym, lift heavy books and run between classes instead
C) live in the library

Aren't gym memberships usually included in school fees?

Not always. My school requires us to pay a nominal fee to use the university gyms.

Interesting, have to look into this now.

Thanks.

prezidentv8 wrote:Step 1: Get credit cards with sign up bonuses & good rewards
Step 2: Put all your purchases / airfare / tuition payments on said cards
Step 3: Pay off cards every month
Step 4: Profit!

I recommend:
Chase Saphhire Pref'd, Chase Freedom, Discover It, BofA's cash back card, US Bank Cash+, AMEX Starwood, Amex Blue something or other, and/or the rewards card for whatever airline you tend to fly on.

I've been thinking about this, too. You also get the added bonus of seeing exactly how much money you spend per month and were it all goes. I figure if you keep good records and look back through your records for ways to cut costs, you can reduce the amount you borrow for 2L.

Amazon Prime free student trials. Save thousands of dollars a year by buying pretty much everything there.

Can anyone speak to working part time 2L and 3L? I worked all throughout undergrad so wondering if that's common, and how much someone (at a t14) might make.

Balthy wrote:Can anyone speak to working part time 2L and 3L? I worked all throughout undergrad so wondering if that's common, and how much someone (at a t14) might make.

I know a couple people that did this, and I wish I did too. Not just for the money but for the sanity/varity.

Most of the people's suggestions (outside of the paid 1L summer internship) aren't really useful and won't help you save significant money. If you want to save money, then you need to work 2L and 3L year. You will be glad you did. First, if it's a law clerk job it could go full-time. Second, you will have one or two years of experience on your resume which will be good for interviews. I've had these pay $14-35 hours. Your school also might have teaching assistant gigs if you are at a large university. Some waive your tuition. Outside of that, if you drink, taking a flask out with you to the bar and pre-drinking will save you a small amount. But really, you must work part-time.

prezidentv8 wrote:Step 1: Get credit cards with sign up bonuses & good rewards
Step 2: Put all your purchases / airfare / tuition payments on said cards
Step 3: Pay off cards every month
Step 4: Profit!

I recommend:
Chase Saphhire Pref'd, Chase Freedom, Discover It, BofA's cash back card, US Bank Cash+, AMEX Starwood, Amex Blue something or other, and/or the rewards card for whatever airline you tend to fly on.

Actually been looking into cards. Any specific recommendation or preference on the ones mentioned above? I was thinking between both Chases, Discover, and/or the AMEX Blue.

JustHawkin wrote:

prezidentv8 wrote:Step 1: Get credit cards with sign up bonuses & good rewards
Step 2: Put all your purchases / airfare / tuition payments on said cards
Step 3: Pay off cards every month
Step 4: Profit!

I recommend:
Chase Saphhire Pref'd, Chase Freedom, Discover It, BofA's cash back card, US Bank Cash+, AMEX Starwood, Amex Blue something or other, and/or the rewards card for whatever airline you tend to fly on.

Actually been looking into cards. Any specific recommendation or preference on the ones mentioned above? I was thinking between both Chases, Discover, and/or the AMEX Blue.

Interested in this as well.

JustHawkin wrote:

prezidentv8 wrote:Step 1: Get credit cards with sign up bonuses & good rewards
Step 2: Put all your purchases / airfare / tuition payments on said cards
Step 3: Pay off cards every month
Step 4: Profit!

I recommend:
Chase Saphhire Pref'd, Chase Freedom, Discover It, BofA's cash back card, US Bank Cash+, AMEX Starwood, Amex Blue something or other, and/or the rewards card for whatever airline you tend to fly on.

Actually been looking into cards. Any specific recommendation or preference on the ones mentioned above? I was thinking between both Chases, Discover, and/or the AMEX Blue.

Discover's rewards are fantastic, and there's no annual fee. Accepted almost everywhere nowadays - haven't had to use my MasterCard in at least a couple months.

FWIW at a lot of universities you get charged a steep percentage fee for paying for tuition with a credit card. The "points" you get are likely cancelled out by the larger fee.

To be honest, if you haven't figured out cheap living before law school, 1L year is a really dumb time to start.

The biggest costs, after tuition, are rent, food, drinks, books (and maybe transportation)
1) rent - find alternative accommodations. Someone I know lives on a boat on the hudson. He got a really cheap deal on the boat, and now his annual living expenses are equivalent to about 3 months' rent for everyone else.
2) food - take advantage of free meals. don't ever use the cafetaria. Figure out some cheap but tasty meals you can make (spaghetti, rice&beans, etc.). buy in bulk, etc.
3) drinks - keep your alcoholism to a minimum and/or pre-game. Learn to say no
4) books - learn your school's library policy. You might be able to check out a required textbook for the whole semester by renewing every few weeks. Buy via the internet, which is almost always cheaper than the bookstore. Discover if there are cheaper versions of the same book (looseleaf vs hardcover). It's usually, but not always, better to buy and then sell at the end of the semester, than to rent. Consider acquiring used books, rather than new
5) transportation - (depending on the school/town) walk more (bonus: free exercise). Take a bus instead of a train.
6) other - consider alternatives to other expensive items; instead of paying for a gym, consider buying free weights and a bench off craigslist; plan ahead and buy clothes when they're on sale. Buy a used laptop off ebay (older models can cost under $100); etc.

Credit cards: do not ever carry a balance on your credit card. It'll be bloody expensive. On the other hand, racking up high bills and paying them off every month can earn lots and lots of points, and free points rock. See previous posts about how to take advantage, but don't go nuts, or you might end up spending more money than you would otherwise.

LexisRewards - run a search every day, watch the spotlight videos every month, and whatever else they do where you can snag bonus points. If you aren't getting at least a $50 amazon gift card (or equivalent) every year, you're not doing it right.

Job - probably not a good idea during 1L. For 1L summer, if you can't snag a paying job, snag a part-time job (e.g. RA) and work part-time. If need be, work a free job 9 to 5, and a paying job in the evening. Don't worry about it impacting your performance, if you're working an unpaid job, it's highly unlikely to lead to a real job down the line. Work during 2L - preferably somewhere that could lead to a real job after graduation (if you didn't get one out of OCI).

If you did get a job out of OCI your firm might not look too warmly at you working at another firm 2L/3L (especially since it raises conflicts concerns).

DELG wrote:If you did get a job out of OCI your firm might not look too warmly at you working at another firm 2L/3L (especially since it raises conflicts concerns).

Then work a non-legal job. It's always possible to find a job flipping burgers or cleaning toilets, even in the shittiest economies

guano wrote:

DELG wrote:If you did get a job out of OCI your firm might not look too warmly at you working at another firm 2L/3L (especially since it raises conflicts concerns).

Then work a non-legal job. It's always possible to find a job flipping burgers or cleaning toilets, even in the shittiest economies

And you might even make more money in commission-based retail, if you can get good hours

I'm not saying don't work as a 2L/3L. If I hadn't been pregnant/had a newborn I would have