[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 »

The stock market is low. Really effing low. The lowest it’s been in a long ass time.

And people are freaking out.

So, in an effort to ease people’s minds, George Bush spoke. He interrupted my morning dose of Ellen Degeneres for about 7 minutes to explain what is going on and how the US Government is going to fix it. But that 7 minutes can be summed up in 2 simple sentences:

Things are bad - we caused the economy to decline worldwide - but they are going to get better. Just chill the eff out.

So, let’s relax, people. Forget about your money in the bank, your student loans, and the fact that you can’t afford your Easy Mac. Grab a bottle of your favorite (cheap) vodka, kick back on your couch and chillax.

Everything is gonna be ok!

It’s official, kids. The Senate passed the bailout plan tonight! It took three long hours of debate (which any sorority girl can tell you is nothing compared to rush), but the Senate voted in favor of the newly adapted bailout plan that will cost a wee bit more than the original $700 billion dollars.  All we have to do now is wait for it to slide into the House…and hopefully pass there…

I am no economist so I can’t tell you exactly what is gonna happen next, but it looks like we won’t have to stock up on the canned goods for now!

So get out there and celebrate the fact that the stock market isn’t crashing, your student loans are still available and all that money you have in the bank is safe for another keg.