Ultimate 'Cheapsters' Compete

It's the web reality show where extreme frugalistas compete to live on a dime.
5:18 | 02/14/12

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Transcript for Ultimate 'Cheapsters' Compete
Well they call themselves she sister's college students and -- -- determined to live on a budget others by dismisses and possibly small. By using tricks and techniques most people would never dream of and -- the job market for young adults as its historic lows. Is this a way to go here's ABC's young Jean Jennings. -- -- -- -- -- Erica Jessica and Laurie. They're contestants on a reality show competition. Unlike any you've ever seen. They're fighting soon. And -- for the title of ultimate cheap. Web series for college students on a budget. In a battle of extreme Penney at saint big go dumpster -- looking for the most valuable -- your toilet seat is worth. Five point seven. Grocery shopping for she didn't challenge yeah. It is experiencing. And bargain hunting at a threatened store I really really like this one but it's -- is confident he can only Wednesday. Which culminates in a -- fashion show. You're actually acting. The. She started this seven week contest sponsored by zions bank in Utah to -- twenty somethings an incentive to start saving early. The winner gets at 101000 dollar cash prize. They saw only expenses that are coming at me at that time and the economy we know -- -- tough economic times are already changing how these contestants live their lives. Eric Richardson who's a junior at Utah State University. Keeps most of this food on campus. That's because he did his 350 dollar month apartment. For a tent in the wilderness. Right here's where I usually asleep and this is a sleeping bags we use their native money. Degree rated. Extreme downsizing also means creative cooking for Eric and his tent -- Tyson this hardy meal is costing them. Find fox no rent no utilities no cable TV it all equals -- -- -- savings. And we say the lot of money -- Aaron. Thousands of dollars. The dollar -- and environmentally. Contestant Jessica DNC a junior at the University of Utah has also made frugality a part of her daily life. For -- it kind of makes it like a game like see how little money and -- she lives with her parents rent free. She doesn't bother with car payments or auto insurance this -- the free pass that I get and she never. Ever pays full price having clearance most of the things -- three dollars. Consignment shop she trades in her old clothes and actually -- money back. I'm -- and the days spending after buying a few does Jessica comes out ahead. When he eight dollars and I never spend more money than half. Contestant Lori Thompson senior Utah State has also learned to embrace simplicity. It really -- the -- think. I mean everyone develop and if you. Fifth she lives in a cheap basement apartment is an obsessive cook honor and had a problem. -- -- -- And he does her own car repairs. We are all paid for for school -- hired every note that at -- With average college tuitions sky -- the 35000. Dollars a year from the board talking. 8000 and a dismal job market on the horizon. It's not just that she pastors -- were coming up with inventive ways to safe. This is. Like many college kids University of North Carolina senior will Thomas and eats constantly. But he doesn't pay a dime for any of it cutting corners every chance -- get it is. -- necessary that differs from. I feel embarrassed to just go there take -- that's exactly what they want to be his gold eat free for an entire year. Each day he checks and online listing of campus events offering free food the -- Chocolate pumpkin -- sliders then he's on the hunt. It's a sentiment shared by the cheap actors -- York's times after slugging it out for seven long weeks of -- It challenges the -- that sarcastic. -- -- is. It's finally time to declare the winner -- -- -- All -- penny pitching eight. I was so excited he can it's fair and I'm definitely gonna put this -- to think it's very Jessica and the others were slightly disappointed. But in the game of -- are the losers are also winners. We're innovative ones about dollars and eighteen dollars and fifty cents in quarters -- anything. For Nightline and yet to -- in Chapel Hill --

This transcript has been automatically generated and may not be 100% accurate.

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