I’m sure we’ve all felt the effects of the current economic crisis; I know I have. Between my commute to work, the standard bills, and the want to have a normal life, my bank account is rarely flourishing with funds. More like, depleting drastically. People are losing jobs, industries are crumbling, and, lord knows, if you have any money in stock - well, let’s hope you have something extra stashed away beneath your mattress.

All that being said, life must go on, right?

So, how do we tighten the belt without living like a hermit? Here are some tips:

Budget: Set your spending limits on a weekly basis. And stick. to. it. Review your receipts at night to make sure you are staying on track, and be honest about what you are spending. This will keep your bank account in the green.

Save on Gas: Carpool with your friends or co-workers. If you need to do some errands, combine them all into one day, and make a route that will hit each stop, in one circle…versus going back and forth in all different directions.

If you live in a city, eliminate your cab usage. I know it is so much easier to hail a cab on those late, drunken evenings, but if you take some public transportation you’ll spend $2.00 versus $15. Or, trying hoofing it; you will burn those drinks away and have some extra wiggle room for a late night snack. Read More »

[College kids are notorious for being poor. And why shouldn’t we be? We take out student loans to pay for private universities, can barely balance a part-time job with our full-time courseload, and the only “balance” we’re familiar with refers to the number of points left on our dining hall cards. Oh, did I mention many of us tend to splurge every extra penny on PBR’s at the campus bar?

If you disagree with everything I just said, you probably don’t need this column. But if you’re nodding along because you’re officially an adult and still don’t know how to manage your money, then you might want to pay attention every week, because I’m going to (try to) get you through this, and make you a successful saver and a wise spender.]

Last week, I discussed the pros and cons of both credit and debit cards. One risk I run when using my credit card is letting my spending get a little out of control. When you rack up a hefty credit card bill, you essentially lose money, because with every month that goes by that you haven’t managed to clear the balance, the more fees get tacked on to your current statement.

As college students, large bills can easily get out of control, and I know I have often felt like I was drowning in bill payments. After all, most of us can’t work full-time or even well-paying jobs, and if we have a huge exam or a paper on the horizon, we may force ourselves to cut back our hours, and likewise, our weekly income.

If you have hundreds (or even– eek! thousands) of dollars in credit card bills looming over your head, sometimes a credit card balance transfer (to a zero interest card) is just what the doctor ordered. But is it worth it, and should you do it? Read More »

If the last time you opened up your checkbook to track your expenses was around the same time you snuggled up with your parents to watch a Disney VHS… well, then, maybe you need a little help.

Balancing a budget is the kind of thing that everyone hates, but we all know it’s necessary. Especially now. While the economy crumbles around us. And our money disappears.

Unless you are truly loaded and/or naturally meticulous, you could probably use a few tips to help you get your stash of cash in order. So read on:

1. Save your receipts.
That’s right… all of them. This might sound unnecessary, but it’s really important. If your bank statement comes and you find something on it that isn’t right, you’ll need those receipts to prove your point and get your money back. After your statement comes, you probably won’t need the receipts anymore, so you can get rid of them then.

2. Write stuff down in your checkbook.
Every time you make a purchase with a check or your debit card, write it down! That means you’ll have to keep your checkbook with you almost all the time, which can be annoying, but it’s worth it. (Not only does this protect you later, but it also forces you to pay attention to your spending!) Keep a separate list of your credit purchases. Write down the date of each expense and its exact amount. Then…

3. Go over your bank and credit statements.
As soon as you get those statements, bust out the checkbook and your credit list and compare each transaction, cent for cent. If there are any discrepancies, consult your pile of receipts (which you could neatly store in a box by date… but OK, that’s not entirely necessary). Talk to your bank or credit company about incorrect charges. Finally… Read More »

[College kids are notorious for being poor. And why shouldn’t we be? We take out student loans to pay for private universities, can barely balance a part-time job with our full-time courseload, and the only “balance” we’re familiar with refers to the number of points left on our dining hall cards. Oh, did I mention many of us tend to splurge every extra penny on PBR’s at the campus bar?

Ok, before everyone gets up in arms about every generalization I just made, let me clarify: if you disagree with everything I just said, you probably don’t need this column. But if you’re nodding along because you’re officially an adult and still don’t know how to manage your money, then you might want to pay attention every week, because I’m going to (try to) get you through this, and make you a successful saver and a wise spender. Starving college students of the world, I bring you Money Matters: a Guide to Handling Your Income (or Lack Thereof).]

This week, I’d like to introduce you to a splendid gem called Free Student Checking. Now, normally, banks will hold your money for you, but they like to find sneaky ways to make a few bucks back themselves. Some checking accounts, for example, have a minimum balance that you always have to have in your account. If your balance goes below that minimum, you get a fine.

Yeah, that’s right. You have to PAY your BANK for being too poor to have any money in the account that consists entirely of your own money that you started out with in the first place. I understand credit card late fees– with credit, you’re spending money you don’t necessarily have– but a fine on your own money? That’s bullsh*t. Read More »

You know those mornings. The ones when you and your girlfriends gather from your various places of shacking over lots of water and ibuprofen to remind each other of the hilarity that went down the night before. Amid all of the laughter (and reviewing of pictures….to jog your memory), you suddenly realize just what happened: the worst thing ever. And it was horrible. And it may or may not have been one of these:

5. A lost wallet and/or clutch. This is particularly disturbing because it is usually the first thing that hits you in the morning, well before you’ve had any time to nurse the hangover you earned. It feels very similar to being on a deserted island that smells strongly of vodka and lime. You are cell-less, cutting off contact with the outside world. With credit card whereabouts unknown and no proof of identity, you are left defenseless against fraud. If you are underage, there is the heavy burden of finding a new fake i.d. The brand new lip gloss and powder from MAC that you inevitably JUST bought are gone forever. Worst of all, your dear, loyal, and perfectly fashionable clutch will never be wedged into your armpit for pictures or table dancing ever again. R.I.P. Limited edition Coach Python and Boucle clutch. You will be missed.

4. The guy you went home with. Okay, last night this guy was h-o-t! He was witty and charming and so attentive to your needs; not once did he let you have an empty glass! Whether you met him at the pre-party, the bar, or on the way home (never a good sign), this dude - who seemed like a great idea at the time - is now nothing more than a big (or worse, tiny) mistake. Often, this error in judgment will use trickery and promises of rides on his family’s yacht to get you home with him, but come morning all he can offer is a ride home…if you’re lucky. High-tail it out of there and head to the nearest health clinic to make sure all he has given you is a bad memory. Read More »

My childhood best friend and I had a Friday afternoon ritual: prank calls.

My favorite gag was calling up girls from our class and pretending to be the Spice Girls. We’d put on our awful English accents and pretend that our weekly victim had won the chance to have a sleepover with the Spice Girls. Cruel, I know.

Worse, though, is the fact that our gimmick worked. Week after week, gullible girl after gullible girl believed that we were the Spice Girls.

Then… circa 1997, there was an influx in the sales of a certain device: the caller id.

And the unfortunate prevalence of caller ids made our Friday afternoon delights implausible. After a few “I know it’s you, Sarah! The Spice Girls don’t have a 7-1-8 area code!”s, fun Fridays came to an end.

But today, the caller id has lost its power. Rather than an influx in caller id sales, there has been a current influx in caller id spoofing websites.

Caller id spoofing? It’s every prank caller’s godsend, and just about everybody else’s worst enemy.

These websites allow you to manipulate the name and number that appears on the caller id of the person you’re calling. Read More »

Getting a debit card might be the worst thing that’s ever happened to me; compiled with the internet, the two opened Pandora’s Box, rowed me across the River Styx and into Dante’s Inferno.

My parents were always adamant about me not having a credit card and I actually agreed with them. It would just be too dangerous. But the debit card still enables me (and I wouldn’t hesitate to say it encourages me) to online shop unabashedly. Or at least until the honey pot runs dry.

In today’s New York Times, there was an interesting article about unintentionally buying/signing up for things online and then being charged for them for months, even years, without noticing. While this specifc problem might be contained to a specific generation (cough, your parents, cough), online shopping can be a different kind of issue when you’re just too good at the internet, like me.

Or so I thought. Ebay, I have found, is the greatest evil on the internet. I find one million things I want, usually designer and usually from China, and somehow I can justify paying ridiculous sums of money for them because they are still cheaper than they would be off-the-rack. Read More »