student wants to become more frugal

[edudlive]

Hello everyone! My name is Zach, I'm a full time college student in Arkansas and I'm really looking at become more frugal and learning some better money management practices. I've got a few points lined up already (from browsing here, talking to friends and relatives, and so on) but I feel that I could use some help working with those points. Also, ANY other suggestions are very welcome.

To start things off I'll tell a bit about my expenses. I live in a 2bed/2bath apartment in town with a single roommate (originally 2 roommates but one was a mooch and got the boot). The apartment's rent is $605US a month, which, is quite a bit but we can move to a cheaper place in November (getting stuck with the expensive apartment is another story that I don't even want to get into right now ). The total utility bill (which includes cable TV and internet) is relatively cheap...totally around $180-190US a month on average. Also, I have a credit card payment (being broke and inexperienced lead me into the credit trap, which I won't be doing again..that is for sure) of around $130-150US a month (working on getting this down/payed off is another subject and goal but I'll save it for another thread). So let me summarize:

Monthly Expenses
Rent: $302.50
Utilities: $90-95
Credit Card: $130-150

Total: $522.50-547.50

I surpass this in monthly income however. I make roughly $380-400 a month at my job (getting another job is an option, but I need to know this semester's schedule before I get myself into that) as well as $400 monthly from my grandparents (I just couldn't do it without them!). So, $780-800 a month. So I've got $233 a month that I am seemingly "blowing" on unneeded things, but I have no idea what. Also, in August I'll get an excess aid check of a few thousand dollars from the school, so figure that in maybe. I've come up with a few things I know need improvement:

Cigarettes
Probably the worst of them all. Not only do I smoke...but the roommate does tooand he tends to bum mine. Totals close to a pack a day (when I can afford it) but I'd estimate at $25 a week. $1,300 a year, wow! This one doesn't really need much suggestion...it is going to be the first to go. I've tried quitting before but I'm going to have to take it seriously this time

Gas
This is probably the largest chunk of my extra income here. Taking my roommate and myself back to work (he has to start chipping in as of today, as I've been nice until now and just did it out of kindness).

Food
This is the one which I have the biggest problem with, or more specifically, fast food. Honestly, this is still my first venture into truly being "on my own" (rent and utility free campus housing doesn't count IMHO) as well as his... First off, keeping food in the kitchen (the obviously cheaper option) is the hardest part, it tends to go away quickly and then the need to eat kicks in and means I end up wasting money on fast food. I would much rather just eat here, both for monetary and health reasons but when it boils down to it...we don't really know what to buy to both keep food on the table as well as save the most money. I have no problems learning to cook, and would love to do so...but I need help. I'm pretty sure I'm not eligible for assistance (Food Stamps, WIC, etc) but I think he is so maybe we can do that...but I'm not sure if he can get it and still list me as a roommate.




Goals
I want to do this for a few reasons. As of now, taking my girlfriend out is difficult because of money, I hate it...but this way I can actually treat her to nice things sometimes. Also, I want to get my credit bill down, as much as possible and at least START a savings (I could probably budget myself to allow for putting 10% of my income into the account every month..if I can just get into the habit of not blowing my money). Generally, I just want to stop needlessly throwing away money where it isn't needed so I can have it to save and spend on things to make my college experience as good as possible!

The first thing I'm doing is keeping receipts from this point on, to maybe get a better grasp on where it is going...other than that, help me guys and gals and feel free to ask questions!


EDIT: I looked first to make sure I posted in the right forum, but after a second glance it seems "Frugal Q&A" would have been better. Mods, please move this if you need to!

[sweeps]

1. Find a way to stop smoking right away. For a multitude of reasons, not just cost.

2. Prepare your own food. You don't have to be a gourmet chef right away. Pasta, hot dogs, macaroni and cheese, tacos, PB&J, salads, turkey sandwiches... those don't require much skill. You can experiment with more complex dishes later.

3. Try to get your roommate on board. It'll be easier that way.

4. Pay off the credit card more quickly so you're not getting dinged on interest charges.

5. Continue to monitor your cash flow so you can find other hidden expenses to cut.

Also, in August I'll get an excess aid check of a few thousand dollars from the school, so figure that in maybe.

Is that a grant or a loan?

[jamai]

get a little diary and try writting down all your expenditures at the end of everyday, after a week or so, that will give you an idea of where you're spending unneccesarily.

[PrincessPerky]

On smoking...empty your pockets of loot, them you can't buy ciggs all the time, use the 'pay at pump' option for gas so you don't walk in and talk to the counter who can sell you ciggs. tell your roomie you are quitting and NEVER bum his! Avoid drinking...drink and booze go together very well, took years before I had willpower when toasted. (helps that most of my friends no longer smoke)

Does your Girlfriend? if so ask her to avoid it around you, make your house a no smoke zone, your car a no smoke zone, and avoid the smoke break hangouts. when you do take her out request non smoking, don't take her to a smoke filled club or bar...

Take her on a date close to when you get paid then send the 'escrow' for bills to your checking (you can't touch it, you need it for rent) your 10% to saving and the rest to the CC..if you can't make a mid month payment, make a mental payment and short yourself to a reasonable weekly food budget. oh and if you havn't already make that CC a horridly difficult thing to use...I wouldn't cut it up (real emergencies happen) but at least make a paper sleeve that says something to remind you not to use it. nd don't put it with your debit card or cash, make it hard to get to.

On food....don't try to go to frugal gourmet overnight...aim for food that will keep, cans frozen, and pasta or rice, never goes bad and pasta cooks up as fast as you can drive down to the fast food joint and order up. If you know what you currently spend a simple option is to gradually cut down $25 a week till you get to a frugal number (not sure what frugal is for one, or two..prolly have to feed the roomie? - I pay 500 a month for 5....but I don't think 100 a month is very doable for one, more people isn't just multiply a base....not sure why)

Also stock up on a couple on sale frozen entrees, when you really think you can't cook you can nuke a frozen meal in 5 minutes...make yourself eat all the veggies

I think your savings goal is great, especially since your roommate might flake out, leaving you with $605 a month in rent. you need to have that in an EF just in case.

[sweeps]

empty your pockets of loot

This is very good, simple advice. Make it as hard as possible to spend money impulsively.