Let’s face it: Being a graduate student often involves careful budgeting around savings or relying on loans to continue our journey into higher education here sustainably. But it’s all a part of the experience as a college student. To sustain myself throughout IAA, I have concluded that the best way to mitigate financial strain is to familiarize yourself with your budget and spend within your means. While easier said than done, finding creative ways to stretch your budget can make a significant difference and offer valuable life lessons.
Find roommates (among your fellow IAA students)
Living alone can be costly and isolating, so why not live and save money with the people you’ll spend the next ten months with? Val often sends out subleasing opportunities in April and May, so take the chance to connect with your peers and make living arrangements. Your future IAA classmates will be your support system throughout this rigorous program and forming bonds when you move to North Carolina or closer to Raleigh can help you feel more connected and less lonely and save a few hundred dollars a month.
High-yield savings account
Did you know that your money can grow in a savings account (significantly)? A regular savings account offers interest rates between 0.3% and 0.6%. However, a high-yield savings account has interest rates ranging from 4% to over 5%. Using a high-yield savings account means you can (substantially) increase your returns, potentially earning hundreds of dollars more over time, depending on your balance. The difference in interest rates can significantly impact savings growth, from a few extra cents to several hundred dollars, depending on the amount you have saved.
Download GasBuddy
Gas expenses can quickly increase, especially for commuters living more than 20 minutes away from the institution. The GasBuddy app helps you find the best deals on fuel, showing you the closest gas stations with the most competitive prices. Before embarking on a road trip, you can plan your route with strategically placed gas stops, knowing the cost per gallon for any fuel grade. By including these stops in your route ahead of time, you can reduce the stress of searching for a gas station mid-drive and ensure you’re getting the best value for your money.
Try the UNiDAYS app
Everyone deserves to treat themselves occasionally, but it doesn’t have to break the bank. The UNiDAYS app offers college students discount codes for stores like Hollister, Adidas, Aerie, and American Eagle. These discounts range from 10% to 30% and can be applied online and in-store. The best part is that once you use a code, it becomes available again within 24 hours!
Spotify/Apple Music/Amazon Prime student rate
Who doesn’t love music, especially while driving or walking to campus? Spotify, Apple Music, and Amazon Prime offer student plans at half the cost of individual subscriptions! Plus, the student deals come with extra perks! With Spotify, students get Hulu included in their subscription at no additional cost, while Apple Music offers Apple TV+. Amazon Prime’s student plan includes fast shipping, free movie streaming, and access to Amazon Music. It’s a great way to enjoy your favorite tunes plus extras without breaking the bank.
Check out the links below:
Meal prep
While eating out can be convenient and stress-free, it can quickly take a toll on your wallet. Dedicating a day each week for meal prepping can be a game-changer—it saves time, ensures you have healthy options, and significantly cuts down on food expenses. Many people find Sunday ideal for this, as it’s often devoted to laundry, grocery shopping, and other preparations for the week ahead. Adding meal prep to your Sunday routine can help set a positive tone for the week. One of my favorite recipes, passed down by my undergraduate roommate Makayla Jasso, is her famous chicken fajitas and rice:
Chicken Fajitas
Ingredients:
- 2-3 chicken breasts
- White onions
- Bell peppers (any color)
- 2-3 Roma tomatoes
- Olive oil
- Salt and pepper
- Garlic (optional)
- Fajita seasoning (store-bought or homemade)
Homemade Fajita Seasoning:
- Chili powder
- Garlic powder
- Onion powder
- Cumin
- Paprika (optional)
Instructions:
- Prep the Veggies: Slice the onions, bell peppers, and dice the Roma tomatoes. Sauté them in a pan with olive oil.
- Season: Add black pepper, chili powder, garlic powder, onion powder, and salt to the vegetables. Cook until the peppers are soft, then set the veggies aside on a plate.
- Cook the Chicken: Cut the chicken breasts into bite-sized pieces and season with fajita seasoning, garlic (if using), and more olive oil.
- Combine: Return the veggies to the pan once the chicken is fully cooked. Let everything simmer together on low-medium heat for a few extra minutes to blend the flavors.
Seasoned Rice
Ingredients:
- 1/4 green bell pepper
- A few slices of onion
- 2 Roma tomatoes, cut into 2-4 chunks
- Long-grain rice
- Olive oil
Seasonings:
- Cumin
- Chili powder
- Salt and pepper
- Chicken bouillon
- Tomato bouillon
- Paprika (optional)
Instructions:
- Blend the Veggies: Place the green bell pepper, onion, Roma tomatoes, and seasonings (cumin, chili powder, salt, pepper, chicken bouillon, tomato bouillon, and paprika if using) into a blender. Add a little water and blend until smooth.
- Toast the Rice: Measure the desired amount of long-grain rice and add it to a pot with olive oil. Stir and cook for 2-5 minutes until the rice is well-coated and slightly browned.
- Add the Seasoning Mix: Once the rice is toasted, pour in the blended seasoning mix. Use two cups of liquid (including the blended mixture) for every cup of rice. Adjust the water to achieve the 1:2 rice-to-liquid ratio, ensuring the rice absorbs all the flavors.
- Cook the Rice: Cover the pot and cook the rice on low heat until fully cooked and fluffy.
Balancing the rigorous courses at IAA while managing finances can be challenging, but it’s also a valuable opportunity to develop habits that will serve you well beyond your academic years. Whether through strategic savings, smart spending, or simply cooking your meals, these small steps can make a big difference in your budget at the end of the day. Embrace the journey, make the most of the resources available, and enjoy the learning process, both in and out of the classroom.
Columnist: Jamie Lin