When I tell my working friends that I’m going back to school, the inevitable question they ask is: How much?
How much debt am I going to accrue before getting this fancy pants degree? And will it be worth it?
Lucky for me I have a full scholarship covering the scary tuition bill. But I still have to finance the rest of my life — rent, car, health insurance, eating — for the next two years and while I saved up a nice chunk of change before I quit my job, it’s not enough to get me through.
Budgeting, penny pinching and cheapskating will be in order. I’ll probably write a fair bit about those sneaky little ways I’m saving money — and the sneaky little ways my university is funnelling it out of my bank account.
Today I got some very good news — about my car insurance. For the last five years my premiums have hovered around $1,400 a year (thank you, Reckless Drivers, Fraudsters and Uninsured Motorists of my adopted state.). Today I called my insurer to tell him I was moving to a state full of much more careful drivers (and far fewer scam artists).
The result? My premium is now $418 a year. A year.
That’s a savings of nearly $1,000!
I did a happy dance in my parents’ living room.
Of course, that $1,000 is already being funnelled away. How? My case study packets for the year will cost $1,500. And that doesn’t include the books that I allegedly have to buy.
So it looks like this match ends in a draw. The score in my two-year Financial Olympics: Me: 1, MBA: 1.
I intend to go down swinging.