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A Guide to Going Out Without Going Broke

By U.S. News & World Report

After a long week at work, come Friday you may be aching to unwind with a nice dinner and maybe a martini or two.

But nights on the town can be an expensive indulgence. Dinner, drinks and Uber rides can add up quickly, taking a big chunk of money out of your hard-earned paycheck.

That doesn’t mean you have to spend your nights at home alone, watching Hugh Grant movies with a box of wine and a sleeve of Thin Mints. With a solid plan of action, it’s possible to paint the town red without going broke. Learn more by checking out our guide to going out on a budget:

Withdraw cash for the night. Decide how much you can afford to spend on your night out beforehand. Withdraw the amount of cash you’ve allocated for the night so you won’t lose track of how much you spent later on. When your wallet is empty, you’ll know it’s time to stop spending.

Find a designated driver. Cab rides and ride sharing can be one of the most expensive parts of going out. Look out for both your safety and wallet by finding a designated driver who can drive you and your friends to and from the bar. Of course, it’s not always easy to convince a friend to be a designated driver — try arranging an alternating system with your friends, where one person agrees to be the designated driver each week.

Start at home. You can save money by starting your night at home. Invite your friends over to share a few beers, and you’ll end up spending less money on drinks when you’re out. Drinks at a restaurant or bar can cost upwards of $8, but a six-pack from your local grocery store can cost as little as $6.

Hunt down restaurant deals. On restaurant deal sites like Restaurant.com, you can purchase gift certificates to local restaurants at more than 50 percent off. Simply plug in your ZIP code and you’ll be presented with a variety of deals for restaurants in your area. You can also check out discounted gift card sites like Raise and Cardpool to score gift cards to popular chains at a discount.

Split meals. Many restaurant dishes fall well beyond the range of the USDA’s recommendations for sodium, fat and calories. Splitting a meal is not only a healthy choice, it’s a cost-conscious one. Consider ordering a salad and a main course to share with a friend. Pack up leftovers, and you’ll have lunch taken care of tomorrow.

Look for specials. Once you’re finished with dinner and ready to hit the bars, do a bit of homework beforehand to find out which bars have the best drink specials. Search local event guides to find listings of promotions and specials, and plan your night accordingly. At a bar, don’t be shy about asking the bartender if they’re running any drink specials you might have missed.

Stick to beer. Cocktails, wine and shots are typically marked up anywhere from 350 to 500 percent at bars. With beer, you often get the best value for your money — especially if you can buy beers on tap or by the pitcher.

Avoid brand-name liquors. If you prefer liquor to beer, make sure to specify that you would like the house alcohol rather than the brand-name in your mixed drinks. Many bars will charge more for premium spirits, so it’s a good idea to be specific about your house alcohol preferences to avoid being charged top-shelf prices.

Finish at home. Instead of staying out late and shelling out more money at the bar, consider bringing the party back to your house. You can continue to enjoy each other’s company (and continue to drink) in the safety of your own home — where the drinks aren’t marked up, you don’t have to tip and there’s never a cover charge.

Stay in. Your friends won’t be devastated if you turn down an invitation to go out every once in a while, and they’re likely to be understanding if you explain your reasons. Next time your friend asks you to come out, try saying something like, “I’ve really had fun going out with you before, but I can’t make it tonight. I’m really trying to stick to my budget.” Everyone can identify with wanting to be more responsible with their spending habits. By deciding to stay in one night, you allow yourself a little more wiggle room next time you go out. You’re bound to enjoy your next night out much more when you’re not pinching pennies.

Remember just because you stay home doesn’t mean you can’t enjoy yourself. Take the time to relax with a bubble bath, cook a delicious dinner or read that book you’ve been meaning to finish.

More from U.S. News

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10 Foolproof Ways to Reach Your Money Goals

10 Creative Ways to Cut Costs This Winter

A Guide to Going Out Without Going Broke originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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