Make college more affordable by saving on intangible costs
When it comes to comparing the costs of various colleges, remember that on the broadest level, costs can be tangible or intangible. To save money, follow these tips from KHEAA–Alabama.
Tangible costs include tuition and fees and room and board.
Intangible costs include everything else: textbooks and supplies; computers; and personal items, such as shampoo, clothes, entertainment, laundry, and other expenses.
You can save money, sometimes a lot of money, by controlling the costs of your lifestyle. That doesn’t mean skimping on shampoo, soap, food and doing your laundry. But you can cut costs by finding sales or using coupons. Always be looking out for buy one, get one free deals.
You can also save quite a bit of money by cutting back on treats such as entertainment and dining out. Doing those things less often will make them even more special when you do treat yourself.
Remember: The less you spend on the intangibles, the less you’ll have to take out in student loans. That means that after you graduate you can afford more of the things you enjoy.
KHEAA is a public, non-profit agency established in 1966 to improve students’ access to college. It provides information about financial aid and financial literacy at no cost to students and parents. KHEAA also helps colleges manage their student loan default rates and verify information submitted on the FAFSA. For more information about those services, visit www.kheaa.com.
In addition, KHEAA disburses private Advantage Education Loans on behalf of its sister agency, KHESLC. For more information about Advantage Education Loans, visit www.advantageeducationloan.com.
This week my beloved Cubbies begin their first World Series title defense in 109 years, if my math is correct. My husband, a diehard New Orleans Saints fan, warns me that things will never be the same now that the Cubs have climbed the mountaintop.
He says he suffered through decades of losing with the Saints; then, when they defeated the Colts in the 2010 Super Bowl, a brief period of joy was actually followed by a lingering sense of ennui. The Saints had finally won it all. What was left to hope for? What could possibly top being world champions? As Peggy Lee ( thank you Leiber and Stoller) sang in her 1969 hit, “Is That All There Is?”
Beyond the glorious feeling of being champions and discarding the longtime loser label, at least there are significant economic benefits associated with a winning sports team, right? At least that’s what I always assumed. Turns out, though, the financial impact of professional sports franchises on local economies is actually fairly negligible, regardless of the quality of the team. Why? Because residents enjoy a finite amount of discretionary income. If they don’t spend it at the ballpark, they’ll spend it somewhere else instead, usually in restaurants, stores or at other special events. Or perhaps by investing the money in a business. So if a sports team moves away, there is no real loss to the area’s economy. The dollars still get spent, usually locally, just on other things.
A California City Controller conducted a study which states that the economy around the Staples Center might actually improve if the Lakers moved away. Victor Matheson concurs. Matheson, a sports economist at College of the Holy Cross, notes that traffic congestion and activity associated with a sports team can actually repel folks from living, investing and shopping in a community. Sports economist Michael Leeds says in a marketwatch. org article entitled “Are Pro Teams Economic Winners for Cities?”, “If you ever had a consensus in economics, this would be it…There is no (economic) impact.”
Local officials frequently and fervently disagree, though, and here’s where things get complicated. Civic pride and identity are involved. What city or state wants to lose their team? Local business owners in downtown Cleveland assert that their operations have been revitalized since LeBron James returned to play there. The Governor of Missouri offered the Rams $400 million to stay in St. Louis rather than move to Los Angeles, but to no avail.
My hometown has a myriad of professional sports franchises. And I want them all to stay in Chicago, especially one of the baseball teams. Go Cubs.
Margaret R. McDowell, ChFC®, AIF®, author of the syndicated economic column “Arbor Outlook”, is the founder of Arbor Wealth Management, LLC, (850.608.6121~www.arborwealth.net), a fee-only, fiduciary Registered Investment Advisory Firm located near Destin, FL. This column should not be considered personalized investment advice and provides no assurance that any specific strategy or investment will be suitable or profitable for an investor.