Four Simple Tips for Saving Money in College

(This is a guest article by Caroline Fraissinet*)

An education is one of the best investments that you can make…but that investment can mean that a little extra cash might come in handy while you’re earning your degree. However, there are a few small things that you can do to spend the money that you do have more effectively. Here are four quick and easy ways to save money:

1. Cook! – Pizza and take-out may be quick, convenient and relatively cheap, but it can add up over time. Generally, buying ingredients to make your own meals is much more cost-effective (and usually tastier, too!) For example, instead of buying pre-made pasta sauces, it may be cheaper to buy all of the ingredients and make a larger batch of sauce yourself. Cooking your own meals can also be creative, social and even relaxing. Keeping the times that you choose to order food down can help to save a few dollars here and there.
   
   
2. Break Those Bills – A simple way to accumulate a little more cash without even thinking about it is to break bills whenever possible. Always pay for things with bills and put the change aside. Try not to use the change unless absolutely necessary. Let it build up in a jar or piggy bank. When it’s full (which may take very little time), take everything to the bank to get it changed into cash. You’d be surprised at how much money you can collect over time.
   
   
3. Don’t Pay Full Price – With a little bit of searching, you might find that almost anything you want can be purchased for a lower price than you might expect. For most items available, there’s usually always a coupon or discount for it somewhere. It may seem insignificant to clip that 40-cents-off coupon, but if you clip enough, you may save a good chunk of change. But don’t let your deal-searching stop at what you find in the paper. Many restaurants offer great deals if you sign up for their mailing list. For example, Buca di Beppo frequently sends out $10 off a $20 purchase for both dine-in and take-out options to people who sign up for their e-mail list. College towns and cities also often offer programs that give discounts for students at local shops, such as Campus Philly in Philadelphia. For online shopping, you can often search around and find some great promotional codes that could take off a few bucks or even get you free shipping (check sites such as retailmenot and shopping-bargains by entering the name of the online retailer you want to get something from). In short, always research whether or not there’s a discount somewhere before making a purchase. A simple web search may save you a good deal of money.
   
   
4. Take Surveys – One of the easiest ways to make some quick cash is to participate in surveys. In bigger cities, there are often research studies going on that will pay qualified participants a certain amount of money for voicing their opinion on something. College campuses sometimes offer paying research studies as well. There are also many websites that offer online surveys with cash or gift card payouts. SendEarnings.com has many different ways in which members can earn money, from taking surveys to buying things online for credit to even simply reading e-mails that they send out. PollingPoint.com, EPollSurveys.com and ESurvey.com offer cash payouts, but also other types of rewards such as gift cards to a good number of locations as well as high-quality electronics. Other survey sites, such as SurveyU.com, gear their surveys more towards students, which can mean that qualification for particular studies might be easier. The one issue with earning money through surveys is that it can take a long time for your money to actually get to you if you’re requesting a check; fortunately, more and more survey sites are offering PayPal payment as an option, which sometimes makes the process of getting paid a lot quicker. Who knew simply expressing your opinion could have such a payoff?

All of these small actions can help to save you a few much-needed dollars in college and beyond. Saving money sometimes does not take much more than thinking about where your money is going and being resourceful about spending, but it can have a huge payoff. Following these four simple tips may help you to keep some cash in your wallet without costing you too much time and effort.


*About the author: This is a guest post by Caroline Fraissinet, a student at Drexel University in Philadelphia, PA, majoring in Film/Video with a minor in TV Production. More articles by Caroline can be found here.

*Image Credit: Photograph by seychelles88 [via Flickr Creative Commons]

How Higher Education Can Make A Difference

(This is a guest article by Mary Acheson*)

There are a number of reasons why higher education plays a vital role in furthering your career; no matter what profession you plan to pursue. Some careers and career advancement opportunities will be limited - and sometimes eliminated - by not having sufficient post-secondary schooling. Even in careers that don’t require specific post-secondary education, having more qualifications and knowledge will give you a step up on your competition.

Screening applicants

Employers screen new job applicants all the time. They are constantly looking for candidates that have the knowledge and skills that they need to perform the functions of the job they are hiring. No news there. However, many employers are also looking to the future when they’re hiring new employees and job seekers sometimes forget about this.

One thing most employers know is that keeping great employees in the long term will determine the future success or failure of their company. One way that they can tell that you are serious about a particular position in their company is by showing them that you have spent significant amounts of time (and money) studying in that field. Higher education shows commitment and employers like that.

To recap – post-secondary education demonstrates to your employers the following:

1. You have formal training and have therefore gained the necessary entry-level skills to complete the tasks of your new job.


2. You are committed to a long-term career in your chosen field. An employer will have confidence because you have shown commitment to your education in this field.

These are just two reasons why higher education can be an important deciding factor during the hiring process.

Higher education = higher income

A huge advantage of higher education is that it will benefit you financially. Many employers use your level of education to determine the salary that you will receive when you are hired. At lots of companies, promotions, and pay raises are also tied to the completion of courses and programs specifically designed for career advancement. So even if you are able to get an entry-level position at a company, without a post secondary education it will be difficult to move up or make more money.

Statistics show that people with higher education make as much as $200,000 more over a lifetime than those with lesser education.

A qualification of higher education is necessary in many careers including dentistry, medicine, engineering, and architecture. Other professions such as law or speech therapy will require you to have a postgraduate qualification before you can practice.

College and university graduates are also more likely to have access to better healthcare and dental benefits that come with more established careers.

Life experience

Another thing that people often forget is that college or university allows you to experience a rich social and cultural scene, and meet all kinds of different people while pursuing a field you love.

It will also allow you to see different places, and for many people it is their first chance to live on your own.

Options

Monster.com and other job sites have thousands of different job postings every day. Most of these jobs require you to have some form of post-secondary education and without that education you have less options when it comes to finding a great career.

Studying also allows you to improve your reading, writing, and math skills that will help you with all aspects of your life. Improving these basic skills can help you do the following:

• Plan your money better


• Get a better job


• Give you new confidence in your working life

It also allows you to study in a field that interests you and to follow an area of study that you are passionate about. Pursuing things that you are passionate about and gaining confidence with an education will help you lead a healthy and fulfilling life.

*About the author: This is a guest post from education writer Mary Acheson. Mary works for a number of websites on education and insurance including LifeInsuranceCanada.org, a Canadian life insurance website.

*Image Credit: Photograph by lumaxart [via Flickr Creative Commons]

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Looking for more information on higher education? Then check out all the online education info you need at MyDegreeOnline.com.

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Selective Amnesia: 5 Things to Consider Before You Buy a New Home

(This is a guest article by Donald Farber*)

The picture is so vivid in your mind you might as well be watching it on glorious high definition television. Stretched out on your private deck soaking in a beautiful sunset while sipping wine with your loved one thinking how lucky you were to find this gem. In fact, you’re so wrapped up in your daydream you just nod politely when the realtor tells you that the reason for the low price is the high-rise slated for development across the street. It’s selective amnesia and it’s more common for homeowners than you might expect.

"You simply can’t persuade some people even if you know their decision isn’t in their best interest; it really just boils down to emotions," says 20 year veteran realtor Tony Swanson. "It’s usually not price, or size of style but usually something more personal."

For instance, he says, a recently divorced father of two who wanted a place that would be great for his kids decided to move them into the city where he grew up. "It was because he wanted the best for his kids that he moved back to his old neighborhood."

Unfortunately in the 30 years since he had lived there, things had went downhill in that area. "You can’t blame him because he was seeing everything through a veil of his happy childhood". It was two months later before he realized what a poor decision it had been and something Swanson says was avoidable.

So how do you let cooler heads prevail and balance those emotions with reason? Here are 5 tips that can help you see a potential home in a more complete light.

1. Talk to the neighbors. This is such a fundamental one, but oftentimes people neglect it. Sure it’s friendly, but it can also let you know if you’ll be buying a house amongst a sea of college aged renters. Find out if they have an association or newsletters. These are usually a good indicator that the community you are moving into also cares about it. This makes them more likely to look out for your home or kids, which can be great for your peace of mind.



2. Get a Home Inspection. This is incredibly important as it can save you substantial headaches down the line. Ask for referrals from your friends or from an independent agency. The important thing is to find out if the home inspector offers any guarantees or liability if they miss anything. Be careful about taking the realtor’s recommendation. Chances are that 99% of the time they will refer you to a legitimate inspector but always remember there may be a conflict of interest. Being aware of the financial consequences of having your inspector miss something crucial is reason enough to find your own inspector.



3. Obtain any records about renovations done on the house. A qualified inspection can only tell you so much. Be on the lookout for anything that raises alarm bells when it comes to the quality of materials used in any improvements. Being a detective means scouring any receipts for clues. Finding out the water heater was replaced two years ago despite the house only being 4 years old is a great example. Seemingly innocuous clues such as these could mean a flooded basement, which means you will want to be extra sure no mold is lurking in the drywall. Don’t be afraid to quiz the current homeowner. It’s not an interrogation, but can help you learn about other unique features of the home.



4. Think big picture when it comes to the add-ons. Sure a hot tub seems like a great idea, but what about the upkeep of chemicals and maintenance. The same thing can be said about the pool, or large beautiful yard and garden. Being realistic can save you significant time and money in the future. If gardening is your passion or you can afford the landscaper then by all means - but, often potential buyers seem swayed by the bells and whistles only to realize their annual hot tub dip is costing them $400 dollars on electricity and chemicals.



5. Don’t forget the house is in a community. Exploring the surrounding area can be a deal breaker on a great house. Finding out your house is a couple blocks from a fire station or hospital means the chances of 3AM siren wake up calls all the more likely. Expect similar problems with nearby airports, railroad track or even agriculture areas. Having the constant smell of manure may put a damper on your summer backyard BBQ. On the flip side, a less than perfect home may become more appealing when you realize how close it is to the elementary school, local park, or shopping centre. It might also save you a lot of money. The important thing is to do your research before you buy and make sure you’ve made the right choice.

*About the author: This guest post was contributed by Donald Farber, who writes extensively about first time home buyers and life insurance for LifeCover.ca

*Image Credit: Photograph by mamamusings [via Flickr Creative Commons]

Business Finance

Business Finance is the field of finance dealing with financial decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize corporate value. while managing the firm's financial risks. Although it is in principle different from managerial finance which studies the financial decisions of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms.

Business Finance is the field of finance dealing with financial decisions that business enterprises make and the tools and analysis used to make these decisions. The primary goal of corporate finance is to maximize corporate value. while managing the firm's financial risks. Although it is in principle different from managerial finance which studies the financial decisions of all firms, rather than corporations alone, the main concepts in the study of corporate finance are applicable to the financial problems of all kinds of firms. 

The discipline can be divided into long-term and short-term decisions and techniques. Capital investment decisions are long-term choices about which projects receive investment, whether to finance that investment with equity or debt, and when or whether to pay dividends to shareholders. On the other hand, short term decisions deal with the short-term balance of current assets and current liabilities; the focus here is on managing cash, inventories, and short-term borrowing and lending (such as the terms on credit extended to customers).

The terms corporate finance and corporate financier are also associated with investment banking. The typical role of an investment bank is to evaluate the company's financial needs and raise the appropriate type of capital that best fits those needs. Thus, the terms “corporate finance” and “corporate financier” may be associated with transactions in which capital is raised in order to create, develop, grow or acquire businesses.

From :   Wikipedia, the free encyclopedia
Source: http://en.wikipedia.org/wiki/Personal_finance
For:        public Information, non profitable

Budget for Education in 5 Steps

(This is a guest article by Courtney Stewart*)

If you are thinking about going back to school but are put off by the cost of higher education, don’t let that deter you. Here is a step by step guide to reworking your budget to help you afford that degree. Education can be expensive, but it is a worthwhile investment!

1. Assess your income and spending habits

Your basic budget is your adjusted income (the amount you take home from your paycheck after taxes, insurance, 401k, or other deductions that come out of your paycheck) minus your expenses. Your expenses include both your basic living expenses such as your rent or mortgage, transportation costs, groceries, credit card payments, and utilities as well as your leisure/entertainment budget. In addition, you should ideally be putting away at least 10% of your adjusted income into personal savings or a retirement account. If you’re not, now’s the time to consider advancing your education to increase your earning potential. You’ll want to reassess your spending to make room in your budget for your education.


2. Determine the cost of your education

Tuition is the primary cost of education, but there are others. You’ll need textbooks and other supplies, and you may also need to pay for additional childcare, transportation costs, or lab fees. You may also need to purchase a new computer or software. While this does add up, it is manageable if you get a realistic figure of what your total costs will be and budget for them. You may want to consider taking courses at an online college to help counteract some of these additional costs, since you’ll be able to work from home and around your daycare schedule.


3. Find ways to cut back on expenses

While there may not be much you can change about your monthly rent, there are plenty of ways to make some changes in your budget and free up some money for your education expenses. Grocery bills can be slashed by shopping for sale items, clipping coupons, and choosing fresh foods over the more expensive processed foods. Your land line may be expendable if everyone in your family has a cell phone, or your cell phone plan may have minutes that you aren’t using. Libraries are a great resource for saving on entertainment expenses such as books, movies, games, and music for your family. And don’t forget to look at the smaller expenses - you are probably spending more on non-essential items than you think you are. All of those morning coffees, restaurant meals, and impulse buys can really add up. Try tracking all of your expenses for several months to look for areas of improvement.


4. Start saving

Once you have reworked your budget to free up some money, you’re going to want to put it somewhere where you can access it (but only for education expenses!). You can open up a savings account with your bank, or shop around for the highest interest rate available at bankrate.com. Alternatively, you could put your savings into a 529 education account. These accounts are offered through your state and allow you to save for education while earning tax incentives. Your payroll may allow you to automatically deposit a certain percentage of your paycheck into a savings account, and if it doesn’t, make sure to manually transfer the money as soon as you get paid – before you have the chance to spend it. Once you get in the habit of removing extra money from your checking account, you’ll find that you don’t even miss it. If possible, you may want to consider getting a second part time job to put extra earnings toward your degree. Just make sure that you will still have time to study!


5. Apply for scholarships/student loans

Finally, in an effort to minimize the amount you spend out of pocket, look into scholarships and financial aid. There are millions of scholarships available so it is worth finding and applying to ones that are a fit for you. Another option is student loans. Unlike scholarships, you will need to pay these back (with interest) after you graduate. The financial aid officer at the school you selected will be able to walk you through the process of borrowing the money to pay for your education.

It seems like a lot of work, but you’ll find that making room in your budget for education is the best investment you can make in terms of future earning potential, personal growth, and career success. Good luck!


*About the author: This guest post was contributed by Courtney Stewart, who writes extensively about online colleges and universities for EarnMyDegree.com.

*Image Credit: Photograph by Linda (Pane, amore e creatività) [via Flickr Creative Commons]

10 Ways to Manage Debt and Avoid Bankruptcy

(This is a guest article by Karen Schweitzer*)

Bankruptcy filings are climbing and are expected to total 1.5 million before the end of the year. If the economic crisis has you considering bankruptcy as well, there are several things you can do now to manage your debt and avoid being forced into filing bankruptcy like so many others.

Adopt a barebones budget. If you haven't done so already, you need to trim all of the fat from your budget. This includes, but is not limited to, cable TV, satellite services, cell phone or landline accounts, cigarettes, morning coffees, hobbies that cost money, and expensive nights out. If you don’t need it to survive, you don’t need it right now.

Sell assets. It can be painful to part with your prized possessions, but it is one of the quickest ways to raise money when you are in deep financial trouble. If you have a major asset, such as a house or car, that isn't secured by a loan, it has to go. Small assets can also be sold via eBay, classifieds, and other marketplaces. Take all of the money you make and apply it toward your debt.

Ask about hardship programs. Credit card companies, banks, and other creditors often have hardship programs for people who are having difficulty paying their bills. These programs offer lower interest rates, payment deferments, or reduced payments. Your creditors may or may not offer such a program, but you will never know unless you ask.

Work with your creditors. If you work closely with your creditors, you may be able to negotiate a non-bankruptcy workout agreement. This agreement will accomplish the same thing as a Chapter 13 filing, but you won't have to file bankruptcy and destroy your credit in the process.

Refinance. If you have student loans, car loans, or a mortgage loan, you may want to consider refinancing. A refinance may not cost you anything (unless it is a mortgage loan) and could significantly lower your payments if you are currently paying a high interest rate.

Request write-offs. This doesn't always work, but it is worth exploring. If you have old debts, you can contact the creditor or collection agency that holds the debt and ask if they can provide written proof that the debt exists. If they cannot, you can ask to have the debt written off entirely.

Settle your debts. Settling debt isn’t always the best financial avenue. However, it is definitely worth considering if you are on the verge of bankruptcy. If you have old debts (debts that have been sent to a collection agency or charged off), you should contact the company that holds it and ask to settle for a lesser amount. If you have a lump sum of money to give them, they may be willing to write off as much as 50 to 60 percent of your debt.

Seek help from a government agency. If you are in a really tight spot, you can contact local, federal, or state agencies for help. These agencies will be unable to assist you with certain types of debt, such as credit card debt, but they can help with the basics, such as rent, heat, electricity, or food bills.

Get credit counseling. The new bankruptcy law requires individuals to get credit counseling before filing bankruptcy. If you are thinking about filing bankruptcy, you should go ahead with the counseling. It may help you get lower payments, lower interest rates, and a better handle on your debt so that you can avoid filing altogether.

Increase your income. Although it can be difficult in a downtrodden economy, you should make every effort to increase your income so that you can pay down your debt naturally. This may mean asking for more hours at work, taking a second job, or finding ways to make extra money online.

*About the author: This is a guest post from education writer Karen Schweitzer. Karen is the About.com Guide to Business School. She also writes about online school for OnlineSchool.net.

*Image Credit: Photograph by phxpma [via Flickr Creative Commons]

The Seven Biggest Used Car Buying Pitfalls (and How to Avoid Them!)

(This is a guest article by Paige Green*)

Whether it’s your first car or you’re tenth, we are all prone to some rather basic mistakes when it comes to making the decision to buy. After all, a car is emotive and appeals to some basic primal need we seem to have for things that are shiny and go very fast. (Historically, our great great grandparents were probably suckers for a speedy horse with a well groomed coat). Unfortunately for our ancestors, they probably didn’t have the same access to information that we currently do, so there was nothing they could do if their prize pony turned out to be a training nightmare. Learn how you can avoid the pitfalls of car financing and purchase by arming yourself with information.

Seven Ways NOT to buy a Car

Falling in Love and getting blindsided

Your perfect vehicle, it looks great, drives like dream and you’ll be the envy of all your peers – if you have your heart set on the car of your dreams – STOP! This is one of the most obvious traps of car buying, especially if you’ve spotted the love of your life in a dealership parking lot. Becoming blindsided and committed to a particular vehicle without first determining the implications of the purchase can mean you’ll be drowning in heavy debt or be bound to particularly unfavourable terms.

Not doing your Research

The decision to buy a car is not a light one and before you step into a dealership or start considering internet auctions, you need to do your research and find out what sort of vehicle will suit your needs. Consider your lifestyle requirements as well as your budget and financing options. Don’t forget to account for the future, if you’re not sure what your situation will be like in five years, you might not want to commit to a vehicle that’ll lock you into a particular style of living for the long term.

Buying and Borrowing out of your Budget

If you’re looking at financing options, it’s tempting to borrow up and “get something you really want”. Remember that defaulting on your monthly payments will seriously affect your credit standing and will have a substantial impact on any future financing. Remember to also consider depreciation costs and other factors that will affect the final value of your vehicle and your assets.

Not looking into finance

When you walk into the lot, the dealer usually offers you instant dealer finance to help you with your purchase which always seems tempting since there’s no lengthy and nervous waiting time that comes with bank loans or the unsettling and embarrassing possibility of rejection. The problem is that without doing your research and considering all of your car financing options, you can end up paying exorbitant fees and higher rates in the long run.

Not test driving

As internet auctions become more prominent, it’s sometimes too easy to just purchase a vehicle based on the owner’s description and not actually doing an in person inspection, especially if the seller is out of state etc. It’s hard to get the information you really need to ensure that a car’s performance measures up to the promised description.

Not Doing a Thorough Inspection

Do your own check for oil (you want to make sure it’s clear and not dirty) and look for any signs of water damage as this could lead to expensive problems in the future even if the vehicle is running great now. When buying a used car, it’s best to consider getting the vehicle inspected by a professional mechanic. For a few extra bucks, it’s worth it to hire a mobile inspector to visit the site and do a quick on the spot check to make sure the car is in good working order. Alternatively, bring along a friend who knows about vehicles.

Not Getting a History Check

By running the Vehicle Identification Number (located on the driver’s side dash or in the door jamb) through vehicle check, you can obtain the full history of your car and find out if it’s been in any accidents or has any outstanding debt attached to it. Don’t take a seller on his or her word, but arm yourself with the necessary information to be a wary buyer.

*About the author: Paige Green hails from the Land Down Under and is an expert at driving on the left side of the road. She waits eagerly for Lemon Laws to be introduced there and also writes for Australia’s leading experts in car finance.


*Image Credit: Photograph by Jeremy Brooks [via Flickr Creative Commons]