A Free Gift to Send to the Troops Overseas

At this time of the year, usually people are in a shopping frenzy. But due to layoffs and lack of jobs this holiday season, many U.S. citizens are using this as a time to give more thoughtful, less expensive gifts this year. So why not take the time to give a free gift and thank someone for their service to the United States?

When my aunts were stationed overseas, they truly appreciated the care packages that we sent them. However, there are so many soldiers who deserve an "appreciation package" that will never receive on this holiday.

Xerox is sponsoring a program that sends thank you cards to troops overseas. It is completely free to the user, and all you have to do is choose a card and a message. It will be randomly sent to someone. Use this five minutes out of your day to send this free gift. I'm sure that someone would appreciate it.

Go to Let's Say Thanks! to send your thank you card. I already did.

-Erica

Where's My Monopoly Money?!

When I was in Argentina, I felt as though the Argentine pesos were "monopoly money" because the vivid colors of the money did not seem real to me. Well thanks to the U.S. economy, there are talks in Milwaukee, Wisconsin of producing their own money, and use this money to help support local businesses instead of those like Wal-Mart and Home Depot. This idea is COMPLETELY LEGAL, which surprised me. As long as the money does not resemble the U.S. dollar it's fine. But what exactly is the incentive for using this money? Apparently, it will have 10% more use than the regular dollar, so instead of 100 U.S. dollars, their money would be 110 *Milwaukee-ian* (made the name up) dollars, making that a great exchange rate.

I think it is a fabulous idea. It reminds me of the system that UGA uses: Bulldog Bucks is a card system that allows students to load U.S. dollars onto the card to use it at local eateries and businesses and around campus at the vending and laundry machines. The only difference is that this will actually be printed money.

For more information, visit this link!

I didn't want to believe it...

When I returned from Argentina, my friends and family kept telling me that we were in a recession. Although I thought that the economy was not as good before I left, I didn't think that a recession could only occur in three months. Well turns out, as of Monday, it was officially declared by the National Bureau of Economic Research that we have been in a recession for a year. Watch the video below.




You can also follow this link for more information.
When did you think that the U.S. was in a recession? Did you feel the effects of it as a college student?

College Woes: To Rent or To Buy? That is the question...

Recently, I have been apartmen/house searching in town for spring semester, and it has opened my eyes to how stressful it can be! From choosing roommates, negotiating leases or picking up subleases, it can be tedious trying to figure out where to live. Although my dream has died (for now) of becoming a homeowner during college, it has become extremely popular and profitable to buy a condo or house(or have your parents buy it), lease out the other rooms, and live there for free (or reduced rent!) Here are some tips on how to rent or buy without regretting your decision!

If you are renting:

1. Look early, so that you can receive the best deals! If you are renting an apartment, you usually have to pay for an application fee, security deposit, etc., but if you can find a sublease (to eliminate these fees) or if you are looking for deals from an apartment complex, start searching in January or February for the next school year. The offices are more likely to help you out with reducing or cutting these fees, because they have a quota to make!
2. If you live in the dorms during the school year, but you are searching for housing during the summer, look for a sublease. Students are more willing to give up that part of their lease, so they will pay for $50 towards the rent or offer other incentives. The later you wait, the better the deal you can receive!
3. If you were quoted a deal from a specific apartment office two weeks ago and you return to find out it doesn't exist anymore, don't back down from it! Apartment complexes are constantly changing their offers, and if they really want your business, they will work with you. If they don't, would you really want to have them manage your living space for an entire year?

If you are buying:

1. Find houses that will resell well when you graduate or decide to leave school. Look for houses in student-specific neighborhoods or houses in areas that can sell to young adults. With the housing situation now, it can take up to 6 months for a house to sell on the market, so you want to angle yourself in the right position for resale.
2. Many houses have been foreclosed in the past year. If you can find a foreclosure that is in your price range and your desired neighborhood, don't shy away from it! Usually, minor work is needed but it can be extremely worth it, profit wise.
3. If you don't have time to buy a fixer-upper, DON'T BUY IT! It is much more important that you live in a comfortable place, because you are a student first!
4. Find roommates through Facebook, Craigslist, or other places to defray your housing costs!
5. Remember that your mortgage payment does not include just your mortgage. It also includes taxes, HOA fees (if you live in a subdivision that takes care of the landscaping, etc.). So think wisely before you decide to buy!
   
6. Watch the Condos video below!
   

My Black Friday Experience and Credit or Debit?

So my friend Brittney and I were supposed to go shopping at J.Crew at midnight, but she turned around at 11:40 p.m. when she discovered the mile-long traffic and the packed parking lot near the store! Craziness! Their 50% percent off all clearance items (btw, it was only publicized to dedicated customers via email like Brittney) was obviously too big of a sale to miss!

Fortunately, my sister and I were able to hit up Old Navy! Their doorbuster sale on Friday included 50% percent off of all denim, so I bought a pair of jeans (and bought a Christmas present too!). They are having doorbuster sales all weekend, but the sales are definitely better in the stores than online. For instance, I found a pair of skinny jeans that I absolutely loved, but they didn't come in my size in the store. I visited the website, and there were only a select few of jeans that were on sale. :(

At The Budget Fashionista, a blog about shopping on a budget, they mentioned a holiday that has recently been created called Cyber Monday! Apparently, online stores post their best prices and deals on Cyber Monday (which is December 1st)! For more information, check out the site here.

I was shocked to hear that Black Friday for some people was deadly! It's sad that people were killed because of other people's frenzy to buy! Read the article here.

The article also brought up an important point. This year, because of economic woes, more people are using their debit cards or cash to buy gifts this year as opposed to credit cards. For college students, it is so easy for us to swipe our cards instead of finding an ATM or using our parents' credit cards. Here are a few good reasons on why credit card (regardless of whether it's yours or your parents) usage should be slimmed down during the holidays:

1. If you make a budget...and you keep to it, it is easier to say no to things when you have run out of cash!
   
2. It's easy to go over your limit...if you don't plan accordingly! Swiping your card takes only one second and little effort, but removing cash from your wallet and assessing how much you have left is a more conscious effort to keep your money. Don't carry too much money on you, because it is the holiday season, but it's important not to go over your budget or over your credit limit to avoid overlimit fees, etc.
3. Avoid the post-holiday blues...because if you spend too much, you eventually have to pay everything back to the credit card company (with interest!). It can take up to months to recover, so spend wisely this holiday season and make sure you can pay EVERYTHING back before you swipe your card!

How was your Black Friday experience? Do you use your debit card or your credit card more? How will your spending habits change during this holiday season?

-Erica

Happy Thanksgiving! Black Friday is tomorrow!

Happy Thanksgiving everyone!

Tomorrow is Black Friday, one of the biggest shopping days of the year. The reason why this shopping holiday is called Black Friday is because retailers lose money all year and on this day, they slash prices to gain profits for the profitable opening of the holiday shopping frenzy. Although this year has been especially hard for people with job layoffs, price fluctuations, and a lack of new jobs available, retailers expect a 2.2% percent increase in shoppping, which is lower than normal yet still optimistic.

With Black Friday comes a ton of retailers who are opening their stores earlier to increase their revenues. For instance, J. Crew is opening up all of their stores at midnight and will give up to 50 percent off on all of their clearance items. Old Navy is giving away MP3 players and other items to the first 50-200 customers in the store. Macy's has a special coupon on their website and in the daily newspaper for getting $10 dollars off of any purchase $25 dollars and over.

For more information about other retailers and their holiday deals, visit blackfriday.info.

How are you, as a college student, trying to cut back this holiday? Are you planning on buying more meaningful gifts? Has your Christmas list changed this year because of the economic crisis?

Money Talks Is Back!

After a long hiatus due to a study abroad program in Argentina, I'm back! During my long hiatus, Wall Street woes and job layoffs have affected not only the United States but the world as well. Don't fret though; I will still be providing you with money saving tips, especially during the holidays. In the next couple of days you can expect the following:

Thursday, November 27th- Happy Thanksgiving! Are you ready for Black Friday?
Saturday, November 29th- My Black Friday Experience!
Sunday, November 30th- College Woes: To Rent or to Buy? That is the Question!

More to come!

-Erica

Gas Prices and Milk are both 4 dollars a gallon??

I've mentioned before that gas prices are going up, but what I didn't mention is how this affects your daily life. From food to travel, gas has altered prices on regular commodities. Even though most college students are currently earning money in summer jobs, none of us cannot afford to spend an exorbitant amount of money on things we use daily. Here are some ways to cut down on your daily spending.


Food: Prices for fruits and vegetables that are in season are going up because of the rise of costs in transportation. If you want to buy those succulent strawberries before they become 5 dollars (which usually happens when they aren't in season), buy fruits from the local farmer's market or grocery store in town. This way, you aren't paying for the hidden expenses.

Travel: Traveling this summer has proved to be more expensive than in the past. Gas prices are averaging about 4 dollars a gallon.
By Plane: Don't travel on the weekends or mornings, because the ticket prices are more expensive. Instead try finding a plane late at night or before the weekend starts.
By Car: Carpool with co-workers or ride the local bus or train (Athens Transit, MARTA). Although you may encounter some people (link to the girl on MARTA), it is a relatively safe and cheap way to get to and from work. Using these alternative methods of transportation also helps out the environment with the reduction of air pollution.

5 Sources of Income...Try It

I attended a conference in December 2006, and one of the workshops catered to becoming wealthy at a young age. From their perspective, the main idea would be to have five sources of income coming in at one time. Now, you're probably thinking WHOA, five sources of income? With our economy the way it is, how can I possibly do that? Now, with our economy the way it is, it is more important to have other streams of income when that part-time job doesn't work out or your camp counseling position ends. Most people only have one or two sources of income on a daily basis, which is their full-time job and a possible side job to make extra money. At this rate, gas prices are only becoming higher. Here are a few ideas to help you get started on your journey to become wealthy.
(Btw, I have three sources of income right now, and I am working to get five!)

Income:

1st source- Part-time or full time job
This may include your summer internship or your part-time job at the pool. Will you have this during the school year? If it doesn't continue, think about possibly having a part-time job during the school year to get some money for the side. Right now, it is extremely hard to find a job, but if you sign up with temp agencies in your area, they can help you find work at reasonable hourly rates.

2nd source- Your hobby
Are you great at doing hair? Do you like to produce music? Do you know your way around the kitchen? Find ways to make money by doing this whether it is promoting your great hairstyling skills to gain a larger customer base or selling your beats to aspiring musicians. Plan a night where you make a delicious meal and charge your friends a few dollars to eat. It is possible to make money and have fun doing it.

3rd source- Surveys
Places like mysurvey.com allow you to respond to surveys that fit your demographic and earn points to redeem for certificates! If you find a website that offers this deal, make sure that you are not paying to take the surveys. Otherwise, it isn't worth it.

4th source- Focus Groups/ Taste Tests
Firms like Scheslinger and Associates in Atlanta and PVR Research are paid to find you, the consumer, to test new products and foods, give your opinions on how you live, and provide your input on topics that you know best. I did a taste test for 30 minutes sampling gum and I received 25 dollars for compensation. It is a fast, easy way to make some extra cash.

5th source- Your Major
You are paying to go to school, so why can't people pay you to do what you already know? If you are a journalism major, consider freelancing at different magazines to make some extra money. If you are a finance major, consider handling the finances of a small business at a discounted rate than the competition.

Need some advice or help on how to make money? Be sure to leave me a comment, and I will get back to you.

Is It Really A Reward?

Rewards Cards.

In college towns, every restaurant has them. Buy five pizzas, get the sixth one free. Purchase ten Blizzards, receive the 11th for free. However when it comes to retail stores, the system can be a bit different.

For instance at Wet Seal and Books-A-Million, you pay a yearly fee to get a discount on future purchases. For book nerds like me, I used my Books-A-Million card about once a month, and it paid off in the end. For shopping addicts like my roommate, her Wet Seal card was worth it to her; she could get a new outfit and receive a discount just for purchasing it. However, if you don't shop at a store often enough to use the discount (at least once a month), then the card isn't
even worth purchasing.

Places like Sephora, Arden B, and Ulta allow you to receive a free rewards card, and every time you purchase something from these stores, you receive points. These points add up to free samples, free gifts, and major discounts. This type of rewards card is beneficial to have because even if you don't ever use it again, you didn't spend money to get a discount on future purchases in the first place.

So if you are ever approached by a pushy salesperson who wants to get commission and asks you to purchase a card, just say no. Unless of course, they know you by name.

The Price Is Right

I love game shows, especially The Price is Right. When I was younger, I used to spend my summer mornings watching it at 11 a.m., screaming at the television when the contestants were wrong. I always wanted to be a contestant, and I even contemplated writing Bob Barker a letter to have a show just for kids (and they would give out Playstations and other popular games when we were young).

Well, now that I have realized that it is harder to get on the show than I originally thought, I wanted to always make sure that I'm paying the right price for anything that I purchase when it comes to low priced items that can add up if bought at the wrong price. Office supplies and other menial tasks are often purchased at a higher price than what it's worth. Here are a few tips on how to save and get it for the right price.

Notary: If you ever needed a document notarized, don't spend your money to do so. Some stores charge two or three dollars, but banks like Suntrust and Washington Mutual notarize documents for free. Sometimes it depends on whether you are a customer or not, so check with your bank so see if they offer these services for free. This will save you a couple of dollars.

Fax: If you do not have access to a fax machine and you need to send documents long distance, make sure you spend your money wisely. I have spent as much as $2. 25 per sheet, when I could have spent as little as $1.29 per sheet. Make sure you call places such as Office Max, The UPS Store, Publix, or a local university that provides fax services and check their prices before you use your precious gas to spend an extra fifty cents per sheet. Believe me, the cents do add up, and they could have contributed to an ice cream cone on a hot day.

Ink: Yes, ink cartridges are expensive, and it often seems like you're buying them more frequently now that you have to print out term papers, job applications, and to do lists. Make sure you save some money (and the environment) by recycling your old ink cartridge and getting it refilled for less at places such as Walgreen's and Eckerd's. If your new cartridge is $15 dollars, it should cost about $10 to refill it.

Business Cards: Our professors, mentors, and advisors teach us the art of networking. Use this tool wisely in order to find a job when you graduate, and purchase some business cards. Right now, vistaprint.com has a special deal where you can get 250 free business cards. All you have to do is pay for shipping (which is about 10 dollars). This is a great deal if you don't have the time or patience to create your own business cards, and it can also be a bit cheaper than buying the software to do it yourself.

Introduction to Money Talks

Hi. I love smoothies, trips to Cold Stone Creamery, women's magazines, eating out at restaurants, and shopping.

However, as a college student at the University of Georgia, I cannot afford to live the lifestyle that I want every day without bugging my parents for money. So, I desire to get as much money as possible in different avenues.

More importantly, I have an insatiable desire to find out different ways to not only make money but also to spend and save it. I want to educate others on how to become financially independent and by doing this, I am servicing the millions of college students, adults, tweens, and whoever else reads blogs to follow suit.

I will calculate how much money I earn from the tips that I give on this blog as well as how much I save. I plan on earning at least 5000 dollars by the end of the year, and I want to save 2500 of it. I'm inviting you to claim financial independence with me. Follow some of these tips and watch your money pot grow. :)