The Debt-Free Graduate, How To Survive College or University Without Going Broke
By Murray Baker
Reviewed by Allyson McGrane

My mom gave me this book for Christmas before I finished my first degree. She thought it might be helpful...I was a bit skeptical myself, knowing too well how many years of higher education I had ahead of me. Yet once again, my mother was right!

Murray Baker has written an excellent book, laced with humour and good advice. Not only is it invaluable for any student, but now that I'm out of school I still find myself going back to it. Chapter titles like "Furnishing and Decorating: Fit to Live In"and "Eat Drink, and Be Merry --But Still Be Well Off!" show Baker knows how to live the high life on a student budget.

This book offers practical tips galore. Tips that stuck with me most are the following:

1. Importance of sound money management--you can and must take control of your own finances. No one else will do it for you and only you know the gritty details of what you actually spend. Most students can't afford a financial advisor (I still can't), so you have do it yourself.
2. Taking advantage of your community and status within the community--whether you are a student, an artist, a businessperson, or a humble employee, there may be special deals and discounts for you that are free benefits of being a member of that group. Ask others in your group what they know about these deals. Have someone explain your medical benefits plan to you. Understand what you are eligible for.
3. Negotiate with everyone, including big banks--you get out what you put into your deal making. You'll often get a better deal if you can clearly state why the price is unreasonably high. Most people who negotiate fairly will get a better deal.
4. Be imaginative and resourceful--use what you have and turn it into what you need. Don't go buy something new if you have something already that can be easily transformed. Evaluate your desires and make sure they are needs before you act.

What Baker proposes is not an easy road for many students. Yet he offers a realistic approach to living within your means and many options to getting what you want for less. Furnishings, for instance--buy your desk new and assemble it yourself, buy used at auctions or secondhand stores, get your toaster free from your well-off relations, find your table on the curbside or throw a party and ask everyone to bring you a plant! All perfectly reasonable ways to live well at a low cost.

I highly recommend this book, it saved me money! It's now available in both Canadian and American editions. Or if you're not a book reader, you can always check out Baker's website at http://www.debtfreegrad.com.

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Book Review:
The Debt Free Graduate