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Six Ways to Save in College
Colleges in Central Oregon
Most of us in Central Oregon are very excited about Oregon State University Cascades and what it will bring for our region. As it grows and adds degrees and programs, and the relevance to our economy and culture expands, it is becoming more attractive as a destination college.
COCC continues to be the prime education resource for youth and adults alike, and provides choices and flexibility. Regardless of whether our youth choose one of our local options or find their post-secondary education out of the area, paying for it can be difficult.
Going to School Out of the Area
If you are out or soon getting out of high school, and you choose to leave Central Oregon, going off to college is an exciting time! Your world is about to open wide, providing you with new opportunities to expand your mind, meet new people, and begin the groundwork for your career (or figure it out). One very important skill you’ll need is learning how to save while living on your own. The easy first step is finding out what you don’t need to buy.
Six Ways to Save in College
• A printer. They take up too much space, and the cost of ink and paper can add up. Check with your college to see if they have a printer allowance (usually included in the school’s technology fee), giving you access to the school’s printers. Also, many professors prefer that you turn in your papers electronically through the school’s educational portal (e.g., Blackboard or Moodle.)
• Computer software. Most schools have special arrangements with Microsoft to provide the Office Student to their students for free. For virus software, if you have cable at home, virus software is usually available to download through the cable provider.
• Toilet papers and bathroom cleaning supplies. If you’re living in a dorm, you won’t need these products. But if you’re living in a suite style dorm with its own bathroom, check with the school to see if room and board fees include janitorial services.
• Television. First of all, with classes, homework, and studying, you’ll have very little free time to watch TV. Second, your laptop will be able to stream most of your favorite shows. Third, most colleges have TVs in common rooms.
• Ironing board and iron. They take up too much space and you’ll likely use it…maybe never. If wrinkled clothes really bother you, get a small steamer instead.
• A car. You’re going to spend most of your time on campus, so there’s little reason to pay for monthly loan payments, parking fees, gas, and insurance. Use public transportation or a bike to get to places too far to walk.
Another way to save is to keep track of small expenses, like eating out or buying cigarettes. Those expenses add up over time. For instance, just buying a Starbucks latte (around $4.00) every day means you’ll spend $300 on coffee in one semester! Make a budget and do your best to stick to it. It’ll make saving money much easier and make living on your own a little less stressful.
Mid Oregon Accounts Might Help You Save Money
If you move out of Central Oregon, you might be tempted to think you need a financial institution in the area. But think carefully before you make a change. If you have a Mid Oregon account, you can’t save any more money than our “Simply Free Checking”, with no monthly service charge or minimum balance requirement. Many financial institutions promise free checking while in college or until age 23 or so, but after they convert to a fee-based, or high qualifier option.
Mid Oregon has 30,000 surcharge-free ATMs in our network, and our Mobile App can provide all the access and convenience you need. Together with our free debit cards, you will continue to access your money, check balances and more at no cost to you. We can be part of a successful college journey, and be there for you when you enter the next stage of your exciting life!
Planning Ahead For Your Vehicle Purchase
Don’t Forget About the Other Expenses
You are planning ahead for your vehicle purchase. Instead of starting your buying journey at the dealer (or with online ad shopping), you decide to figure out how much you can afford. You don’t have enough saved up to pay cash, but have a down payment. You’ve figured out how much of a monthly payment you can afford. You’ve even given yourself a little breathing room. Is that all you need to consider?
License and Registration Please
Not really. Don’t forget about other expenses, such as license, registration, gasoline, maintenance and repair. Some costs, such as fuel, you can build in to your monthly spending plan. But others take more planning.
According to the Oregon DMV, the fee for two-year passenger vehicle registration is $248- for the standard passenger plates. For renewals, or used vehicles, it is $112 for the two years. The cost is higher for any kind of special plates, and there could be other additional fees. See the ODOT License Plate page for details. The regular Title fee is $93.
Auto Insurance Will Vary
How about insurance? If you are replacing another vehicle, you might think the cost will be about the same. It will vary based on a variety of factors. The only way to know for sure is to get a quote on the vehicle you are considering. Don’t forget major upgrades or add-ons. Our local insurance partner, Cascade Insurance Center, can get these for you at no charge; you can email Lauren for details.
Fuel costs may change significantly over time. It wasn’t long ago gas averaged over $4.50 a gallon. Use www.gasbuddy.com to see current prices in Central Oregon, or by your zip code. As of this writing, the average price for a gallon of regular gas in Oregon was $3.29, with a range in Bend of $3.03 to $3.44.
Repair & Maintenance Can Be Expensive
Don’t forget about maintenance and repair. Many months these will not be in your budget, but when they are, maintenance and repair can cost a significant amount. Newer vehicles would have less repair expense, but might be expensive for routine maintenance. In a recent Consumer Reports Survey, a 3-year-old Subaru averaged $180 annually in maintenance and repair costs, while a 10-year-old model averaged $695. Vehicle brand costs annually ranged for $0 to $390 for the 3-year costs, to $315 to $1,125 for the 10 year old models. Plan ahead!
Factor In All Expenses
The key is to know these costs when choosing the type of vehicle you want and factor in the additional expenses before you start looking. If you find that perfect vehicle first, you might be tempted to overlook the costs that come later.
Mid Oregon Credit Union can be your partner on your vehicle buying journey. As a member, we want you to come out ahead. Visit our Vehicle Pre-Approval page to help figure out where to go next.
Checking Built to Travel
Great Checking Accounts
In February of 2017, Mid Oregon Credit Union undertook some significant changes to our checking accounts. While we continued to offer Free Checking, we added additional features and benefits. We launched “Simply Free Checking”, which offered the same no monthly service fees and no minimum balance requirement as before, but included more. One was buying back debit cards and unused checks from another financial institution.
The other three new accounts started there and added benefits: 50+ Interest Checking, Direct Interest Checking and Premium Interest Checking. to learn more about all of Mid Oregon’s personal checking accounts, visit our checking web page.
But the biggest change involved giving members the chance to win prizes just by opening their new checking account.
We’re counting the reasons our 60th might be our best year yet. We’ll be sharing some key milestones, fun events—and, hopefully—a few inspiring member stories. Watch the Mid Oregon View, our Facebook page, or follow us on Instagram to stay up to date. And look for the #60for60 sea and hashtag on our photos, stories, and posts to see some of the things that made the cut.
One Mid Oregon Member to Win Alaska Airlines Gift Certificate
Every six or seven weeks, we have randomly drawn a lucky winner from each of our seven branches. Winners in Redmond, La Pine, Sisters, Bend, Prineville and Madras (and other communities) have nabbed gift cards from the Old Mill, Sportsman’s Warehouse, Visa, Chevron/Circle K, Bi-Mart, Mt. Bachelor and Sun Country Tours. We’ve awarded TVs and Airline Tickets.
But right now, we are combining all branch entries for one tremendous prize: One Mid Oregon Member will win a $2,400 Alaska Airlines Gift Certificate!
Beginning on May 29th and running through July 8, each Mid Oregon new checking account member will automatically be entered to win∗. Our branch teams have uniquely decorated their facility to show the excitement of travel and the potential to win.
Checking Built to Travel
As a credit union, we strive to give our members the tools to better manage their money. Central to that are checking accounts. While our checking solutions are top notch for everyone year-around, they are particularly helpful during the summer, or travel seasons.
Besides no monthly service charges and no need to keep any minimum balance, our checking offers Free Mobile Banking online or with our Free Mobile App, including mobile deposit; Free eBillPay, Free eStatements with online check images; Available CardNav, with the capability to control your debit cards, set limits and get alerts for almost any need, while managing your card in real time.
Staying out of town when you need to deposit a check? Use Mobile Deposit on your smart phone or tablet. Pay a bill with eBillPay wherever you can get internet access. Away from home to see your mailed statement? View your balances and transactions using your phone, computer or tablet.
Oh yes, and over 30,000 ATMs in the U.S. where you won’t have to pay surcharge fees to access cash from your checking account, using the Co-Op network.
Don’t Wait to Change Any Longer
There is no time better than now to get going with a new Mid Oregon checking account. Start the summer, with the checking built to travel!
To open an account or get information, visit midoregon.com, email an account representative, call us at (541) 382-1795, or stop in to one of our seven Central Oregon branches.
Sixty Reasons: #60for60Mid Oregon #60for60 seal
We’re counting the reasons our 60th might be our best year yet. We’ll be sharing some key milestones, fun events—and, hopefully—a few inspiring member stories. Watch the Mid Oregon View, our Facebook page, or follow us on Instagram to stay up to date. And look for the #60for60 seal and hashtag on our photos, stories, and posts to see some of the things that made the cut.
∗ Entries accepted through July 8, 2018. Winning prize is one $2,400 Alaska Airlines gift certificate. No cash equivalent, substitution or transfer of prize permitted. Winner of the prize will be issued a 1099-Int or 1099-MISC. No purchase necessary to win and will not increase your chances of winning. Entrants must be 18 year of age or older to win. Limit one entry per person. Mid Oregon Credit Union employees and their immediate families are not eligible to win.