U of I student competes on Ultimate Cheapster online reality series

MOSCOW, ID - You can call it being frugal, penny pinching, or being just plain cheap but University of Idaho student Rachel Ashley calls herself a Cheapster.

"I just can't pay that full sticker price," said Cheapster contestant Rachael Anderson. "It hurts too much."

Rachael is one of 13 college students from Idaho and Utah chosen to participate in the second season of Cheapster, an online reality series created by Zions Bank.

"You know we had over a thousand people submit entry forms to be on this show, and so she really is sort of the cream of the crop," said Zions Bank Vice President of Marketing.

One of the things that Rachael does to save money is make her own all-purpose cleaner.

"So in that solution it's just three ingredients, you use water and some baking soda, and some vinegar," said Ashley. "Mix those three things up and put it in a spray bottle and you can clean anything."

She also makes her own laundry detergent.

"It has borax, washing soap, and some ivory," said Ashley.

But her biggest money saver is clothing.

"I never pay full price for something," said Ashley. "I think that's just ridiculous when you know you can get it on sale later."

Rachel recently got back from Salt Lake City, where she was competing to become the Ultimate Cheapster. If she wins, she'll receive $10,000 for herself, and another $10,000 for her school. She says that if she wins, half of the money is going right into savings.

"There's no reason to just blow the cash, because as soon as you spend it, it's gone," said Ashley. "So make it last as long as you can."

But the other half, she would spend on a family vacation.