cooking artichokes: 2009

Year in Review

2009 has been filled with its ups and downs. We have been fiercely waiting for the upswing of the
economic downturn, but it is up to us to prepare for 2010 and be as financially savvy as possible.
The new year is always filled with resolutions that begin in full force, but loose energy by spring. Let's all resolve to stick to our budgets and spend less, while saving for the future- whether it is a small goal or larger venture such as an apartment or new home. And, instead of losing steam let us all resolve to be diligent and mind-full of our finances the whole year through.

We have offered various tips and tools to get you thinking about ways to save. Instead of buying a $4 coffee at Starbucks or Dunkin Donuts you can invest in a coffee maker. And, although the initial expense is more, you will save money in the long run. We have suggested that saving money may be easier with a specific goal in mind. For instance once you determine what you are saving for, and the overall cost involved, it may be easier to see that broken down per day the amount needed is nominal, making the goal and savings a little easier. This means that you might forgo eating out to save money, but if your goal is a vacation then when you pass on dinner out think about all the dinners you can treat yourself to while visiting a new place.

If you have attempted unsuccessfully to save money in the past it is never to late to begin again or ask for help. If you know that you are in a negative spending habit the only way to change your situation is to admit there is a problem and redirect your efforts. One of the keys to a successful budget is to revisit it and reevaluate how much you are actually spending. If 2009 was a banner year for you then keep up the good work and please pass along your helpful hints.

Savvy Student wishes you a very happy end to 2009 and a most successful new year. As always we appreciate the time you take to read through our posts. We hope you find the information both current and useful. If you have any suggestions for different posts or ideas on how to successfully manage money please share your comments with us.

From all of us at Savvy Student, thank you and happy new year!

Warehouse Shopping

BJ's, Costco, Sam's Club - these three stores have become unanimous for saving, but here at Savvy Student we like to do our research before we hit the stores. Before you stock up on all your favorite foods we'd like to call attention to some things that you need to be aware of when it comes to shopping at these types of stores.

On a whole, consumers are more likely to overspend when shopping at these types of retailers. There are many reasons why, but one of the more surprising reasons is the infamous membership fee. These fees, which range from $40-$100 are not only a way to generate profit, but many members buy more as a result, believing they need to in order to justify the expense.

When it comes to buying in bulk it often makes sense to shop the warehouses, but not always. If you're just one person, the chances you'll eat through a three pound bag of salad before it goes bad are quite slim. Do the math, and by the time you factor in this waste, you would be better off buying the smaller bag from your supermarket.

Beyond the waste factor, often times those every day low prices at your local BJ's or Costco is not cheaper than your local supermarket sales. You'll often do better buying at the supermarket if they have sales, over the warehouse every day prices.

The question remains: are you really saving when you shop at those warehouse stores? Although many times you can save, don't assume everything you're buying is a good deal. Before you buy that 60 ounce bottle of spaghetti sauce, make sure you'll finish it in time for it to truly be that great deal you think it is.

Another last thought on warehouse shopping: coupons! Coupons are a great way to add more savings to your bill and in doing research we've found that only BJ's takes manufacturers coupons. That dollar off coupon may make the price that much better, so this is something to think about before you hit the stores.

'Tis the Season for Shopping,

Savvy Student

Outlet Malls

Now that the holiday shopping season is in full force, we at Savvy Student want our readers to know some important secrets involved with many of our favorite shopping destinations. When it comes to outlet stores there are a lot of tricks that retailers make pushing you to spend more. Retailers use holiday sales and bargain prices to entice you, making you believe you are saving.. but in reality, you might be spending more than you realize or more that you budgeted for because of these incentives to buy.

Outlet malls are great places to shop, but you also have to be weary of some of the ways they take advantage of you. Did you ever think about how outlet malls are placed in the middle of nowhere? Not only is there an advantage in real estate costs, but the fact that a person has to make an effort to go to the stores makes it more likely that they will spend more money. Your time and effort to reach these stores is usually more than if you were going to a regular shopping mall and the outlet stores know this. Many outlets are also missing the conveniences of benches or restaurants to allow you to rest, meaning more of your time will be spent going in and out of stores, spending more money.

Another important piece of information is, branding. Many retailers such as Coach and Gap make their own outlet brand, however, the quality is not as good as it's non-outlet counterpart. So, sometimes what you're saving isn't actually saving at all.

We hope now, that before you run to the outlet malls to make all of your holiday purchases, you will think twice, not only about what you're buying, but what you're spending your money on. What may seem like a real deal might be worth less than it seems.

Seasons Greetings,

Savvy Student

Holiday Spending Tips

So you survived the madness of Black Friday and we want to congratulate you for that. But we all know, there are more presents to buy...

At Savvy Student we want you to save money and spend wisely. The stress of the holiday season is in full force and can often times distract us from our goals and make us into holiday grinches. Jennifer Lane, Certified Financial Planner has offered up her advice on how to manage your holiday money stress and celebrate the true spirit of the season.

Make a list and check it twice
· The holidays can get crazy. Create some focus around what's really meaningful and be sure you can do the important things by making a list of everything you might spend money on. Include gifts and events, and don't forget items like extra gas or travel expenses, food for special meals or even extra take-out, and party clothes you might need.
· Next, sort your list by priority with the most important things on the top. Then fill in what you plan to spend on each.
· Total the list from top-to-bottom. Once the budget is spent, cross out anything left at the bottom of the list that didn't get funded. These should be the smaller, less important things. If not, try some of the tips below.

Stretch your holiday budget
· Use your list to set a per-person gift limit to minimize impulse purchases while you're shopping.
· Give one gift to a couple or a family. Gift baskets and coupons for chores or babysitting are always appreciated.
· Go green; save paper and postage. Trim your gift and card list where you can.
· Write a note or make a phone call - sometimes what you say can mean more than the most expensive thing you could buy.
· Remember, it's the thought that counts. Give handmade gifts or share potluck meals in place of a big party.

Give fun gifts that are financially savvy

For the young and not so young on your list:

· A savings bond coupled with a tour of a local bank can get the younger crowd excited about saving.

· Money Savvy Piggy Bank , a fun way for kids to learn about saving, spending, donating, and investing.

· Give a gift certificate for a SmartyPig account. SmartyPig is an online savings account that's been assigned a goal. The account accepts deposits from the account owner, friends, and through gift certificates. Once the goal is met, the account owner can make a withdrawal.

· YoungMoney.com is a great online and print magazine for teens and young adults.

· Food and gas cards can be a welcome gift this time of year.

· Make a charitable contribution to your hosts' favorite charity or an organization in their town in place of a hostess gift. Check CharityNavigator for info.

Gift cards and certificates

Read the fine print when purchasing gift cards:

· Where card is valid - online, in-store, or both

· Replacement policy

· Payment policy if purchase is larger than the card balance

· Refund policy for balances remaining after a purchase

· Expiration, transaction, maintenance, and service fees

Access to these tips was provided by Compass Planning Associates.

We hope you find all that you need for everyone on your list this year. If you have any additional tips or techniques for this holiday season please send us your comments.

'Tis the Season,

Savvy Student

Black Friday Shopping

The tradition of Thanksgiving is not just about Turkey and football. It has become about the thrill of waking up in the wee hours of the morning to capture the best deals and door busters on Black Friday, the kick-off to holiday shopping. Shopping for Black Friday is an adventure, and we're here to equip you with the best advice on how to plan your shopping and spend wisely!

Getting the best deals on a budget is all about preparation! The sales can be daunting and there are so many it's hard to decide what you need versus what you want. There are a few steps savvy shoppers take before they begin their adventure and we want to share them with you.

1. A Budget: Lets be real here, we never have as much money as we'd like to spend. Often times what we want to buy is more than what we need. Think about how much you can spend and who you need to buy gifts for. Remember it is the thought that counts.

2. A Plan: Before you even begin looking at the sales fliers, know what you want to buy. Those ads are tempting and you don't want to be buying things you don't need. Part of the "Black Friday Buzz" is to make you buy stuff that you don't need at all. Don't get caught in the frenzy! If you have a plan of attack you'll be better prepared to comparison shop and get the best deals on everything on your list.

3. Website shopping: One way to really make sure you don't get pulled into the frenzy is to do your pre-shopping online. Browse through the ads because online, they're just lists of items- none of that flashy wording and pretty pictures to lure you into buying things you aren't really interested in. This will cut down on impulse shopping. Looking online is also handy because it gives you lists of sales, and rather than digging through ads you have the ability to sort through things quickly and easily, and just like the more time you're in a store, the more you spend, the longer you look at those ads the more likely you are to buy more.

4. Execute the plan! Make sure you get good sleep the night before. It's intense out there, don't come unprepared. Be ready for the crazy shoppers and be wide awake. A good breakfast is a definite must. Coffee can certainly help. Make sure you also do some pre-shop stretches, here at savvy student we always make sure that you get the bed time blues out of the way before you shop!

That being said, ONLY go to the stores you planned on. Don't get tempted and run into other stores on impulse. Stick to the plan! This way you'll buy only what you need and you'll save time and energy for other things.

For the list of black friday ads online, go to blackfriday.info

Other thoughts;

Online retailers often offer sales for black friday as well. Amazon and Overstock.com run sales all day, and other retailers often run sales for the holidays. When shopping online be weary of shipping costs, many times that can run the cost up so high that it isnt worth the sale you're getting. There is a FREE SHIPPING DAY, December 17th, that many stores are celebrating, you can find out the list on freeshippingday.com.

Happy Holiday shopping from your friends at Savvy Student!

'Tis The Season For Shopping

With Thanksgiving nearly upon us the holiday shopping season will be here before we know it. Stores are already making preparations, from decorations to discounts in hopes of luring in the holiday crowd. So, stand by...we at Savvy Student are here to help you prep for Black Friday and beat the crowds. We want to make sure you have a list and are checking it twice. We will teach you how to shop wisely, spend frugally and give GREAT gifts to your friends and loved ones. Please watch our tips in the coming weeks for Thanskgiving and beyond.

Stay tuned,

Savvy Student

Thanksgiving on a Budget!

With the current economy and the high cost of food, many people are wondering if they can even afford to host Thanksgiving dinner. Savvy Student wants to reassure each student that there are many ways to cut cost but not flavor for this Thanksgiving.

One of the easiest ways to trim your budget for this holiday is to host a pot luck dinner. If everyone brings something, it will really keep the cost down. Remember, no one person provided all of the food for the first Thanksgiving, so get into the spirit of the holiday. Pot lock dinners are also a great way for your loved ones to show off their culinary skills. To ensure you have all of your bases covered you may want to confirm the menu with each guest beforehand.

You can also buy a bigger turkey! Larger turkeys are cheaper per pound than smaller ones and you can always split the cost with a friend or family member. The time it takes to cook a full turkey makes purchasing a larger one worth it. If you put in the extra time and a few extra dollars, you'll have even more leftovers to hold you over the week after Thanksgiving. You'll be hard pressed to find someone (herbivores excluded) who won't love a a nice turkey sandwich the day after Thanksgiving.

Use coupons. Get organized and find coupons for the ingredients you need. You can buy them early so that you don't have to buy higher-priced items because the store is out of what you want. You can also do some research for ingredient substitutions. Don't invest in a cupboard full of new items until you determine if what you already have will do the trick. Here's a great place to start.

You can even make your own pies and freeze them. Homemade pumpkin pies are easy to make (especially if you use frozen pie crust) and much cheaper than store-bought treats. If you make them early and freeze them, you won't have to worry on Thanksgiving Day. Also consider the added bonus of having a warm pie right out of the oven with no prep work involved. Delicious, frugal and practical!

You can cook some meal stretchers like brown rice and whole wheat pasta to add some fiber and filler to your menu. Foods like these are filling and if you find yourself with less cash to splurge on fancy side dishes, your guests will still be full of delicious food.

We can't forget the Thanksgiving ambiance, so to create the perfect centerpiece, step outside! Fill a vase with autumn leaves and pine cones, fill a decorative bowl with apples of all varieties, and bring the autumn color inside using cheap votive candles placed inside of orange, red and yellow candle holders. Try your local dollar store for the candle idea; discount shops tend to carry all different kinds of candles for less than a dollar apiece. Another fun idea: take some fallen leaves (make sure they are fully intact) and spray paint them gold. You can glue the leaves to a disposable table cloth and place a clear cloth over the top. Instant thanksgiving glamor!

As you can see, there are many ways to make Thanksgiving special without breaking the bank. We at Savvy Student hope you enjoy your time off with friends and family!

Happy Thanksgiving!

Savvy Student

When Not to Throw your Credit Card in the Trash

With all of our cautionary advice, it probably seems like Savvy Student opposes the use of credit cards across the board. The truth is, credit cards, when used wisely, can help a financially responsible person build an excellent FICO score that can be used to secure a loan, a job or an apartment in the future. Some cards even come with travel and shopping "points" or reimbursements that can actually save money (assuming you don't carry a balance on your card). Credit cards are certainly not all bad.

However, if you lose control over your spending, it may be wise to close your credit card account completely to squash the temptation to spend. This choice does involve a compromise, as closing the account completely may actually hurt your credit score, particularly if you are carrying a balance.

Get Rich Slowly explains the reasons:
"1. The longer you’ve had an account, the more weight it carries. 2. Say you have two cards, both with $5,000 limits. You’re carrying a $2,000 balance on one of the cards, or about 20% of your total available credit. If you close the unused card, you’ll then be using 40% of your available credit, and your “utilization ratio” will jump, giving a temporary ding to your credit score."

Canceling an account early or utilizing more of your credit limit due to card cancellation can hurt your credit score, but if your habit of spending money you don't have is putting you into serious debt, you may have to take a hit to your score to preserve your finances. This decision is truly a matter of determining which option is the least detrimental in the long run.

If you do decide to cancel your card, make sure you call the company to do so. If you're closing a card with a balance, note that some companies will increase your interest rate on the remaining balance if you close your card. Then, cut up the card and dispose of it. If you would prefer to keep the card open but avoid using it, try opening a safe deposit box to hold it or freeze the card in a block of ice à la "Confessions of a Shopaholic." Just be sure to keep the card in a safe but inconvenient place so you don't reach for it when items on your wish list go on sale.

Decisions like these are all about making trade offs. Sit down and figure out what will hurt you more in the long run: the possibility of a higher interest rate on a future loan because of a slightly lowered credit score or the temptation to spend with plastic?

Good luck,

Savvy Student

Liven Up the Old and Reinvent the New

Scuffed heels, loose buttons and hems that fall out are very annoying to deal with and often cause us to ditch the old and buy new replacements. Unfortunately, it can be expensive to always replace a pair of shoes or pants, especially when they are our favorite pair. This can be even more frustrating if the items were recently purchased. Instead, help your old wardrobe look new again with some simple and inexpensive tricks. You can also take your bargain basements finds and add little reinforcements to ensure a longer wear.

1) Liven up your footwear by visiting a Cobbler
Old shoes may be nearing their end, but what if they are your favorite pair? A nice polish job or new sole can completely reinvent these oldies, but goodies. If you have a pair of heels, the tip may be glued on plastic. A Cobbler can quickly and inexpensively fix this and even add reinforcements to a new pair of shoes, before they loose their luster.

2) Add Extra Thread
Buttons on even the most expensive outwear or shirts may eventually fall off just because of wear and tear. To keep from loosing buttons or embarrassing yourself in public simply reinforce loose buttons with heavy duty thread. Just hand sew over the stitches with thread that matches the color of the garment and you will be all set. Another option is to take clear nail polish and paint over the thread, that way you'll be sure you're safe!

3) Go Green
Clothes frequently fall apart in the laundry often times because the spin cycle is too harsh or the material can not withstand the heat of the dryer. Save some quarters by hand washing your clothes and letting them air dry. If you would rather not hand wash your clothes, that's understandable, but your laundry will last longer if you avoid the dryer.

4) Got faded jeans? No problem!
This is a messy solution to the faded jeans problem, but it'll save you a ton of money. Instead of buying a new pair of jeans when your old pair starts looking haggard, buy some navy blue, black or asphalt gray dye and brighten them up a bit. Make sure you wash them a few times before you put your newly dyed jeans to use. You don't want to rub off on the furniture.

Let us know how these tips work out for you, and comment if you have any suggestions for more ways to save.

-Savvy Student

Fines, Fines and More Fines

So, you are currently at Brandeis honing your skills for the work force or graduate school, yet you still need work when it comes your personal finances. Your fall semester bill has come and gone and with the spring 2010 bill on its way why pay more than you have to? Many students leave Brandeis having to settling past due balances related to fines they incurred, but never paid for. And, because they have not started working yet money is at a premium or in other words they have none. Many of the fines are related to parking, dorm damage or forgetting to return a book to the library. The fines add up and believe it or not, balances can be in excess of $1,000. Some students even have to consider loans to pay off their balances. Sadly, these fines can be avoided and the money that would be spent on such charges could be put to better use. It seems easiest to blame the parking office because they were being “ridiculous” and you were “just parking there for a minute”, but ultimately, the only person to blame and sometimes the hardest to blame is yourself. So, instead of spending $500 + on fines, you could instead put money towards your loans or credit card debt, heck you could even go on spring break. If this has happened to you, hopefully you have learned your lesson. If you are in this cycle please realize that your $55 fine is a warning sign of what could come and is the equivalent of a nice dinner out for two.

To further illustrate our point we would like to bring back our fictional character Mike.

Mike is a junior at Brandeis and insists that the $25 dorm damage fee was not his fault, it was his neighbors and he miraculously does not remember receiving the $75 parking fines. In fact, he already paid the parking office directly for a $30 fine he received. Nevertheless, Mike now has a total of $100 in fines, $130 if you count the extra parking ticket.

What could Mike have done with this $100? Saved himself a lot of stress, for one thing. But if he vowed to never get another fine for the rest of his time at Brandeis, he could reward himself by putting away enough money each week to accumulate $100 by the time he graduates. With this money he could pay an application fee or a broker's fee to rent his first apartment, or he could shop around for a new outfit to wear on job interviews. $100 can easily buy a discounted designer oxford shirt at a department store like Filene's Basement, or a good pair of classic dress shoes. Planning ahead for purchases like interview clothing will inspire you to save your money and of course, park appropriately.

Thanks for reading,

Savvy Student

The Real Cost of Smoking

When lighting up for the first time, many people don't think about how much their cigarette habit is going to cost them over their lifetime. Most lifelong smokers begin at a young age, which only exacerbates their financial and health costs.

For example, you have a 5 cigarette a day habit and you buy packs at $5.00 with 20 cigarettes in them.
If you quit smoking today, you will save:

$456.25 in the next year and will not smoke 1825 cigarettes
$1368.75 in the next 3 years and will not smoke 5475 cigarettes
$2281.25 in the next 5 years and will not smoke 9125 cigarettes

If you have a pack a day habit at $5.00 a pack, you will save:

$1825.00 in the next year and will not smoke 7300 cigarettes
$5475.00 in the next 3 years and will not smoke 21900 cigarettes
$9125.00 in the next five years and will not smoke 36500 cigarettes

Additionally, because of the higher risk of health problems for smokers, they often face higher life insurance and health insurance premiums than non-smokers. Health and dental care tends to be higher as well, especially as the smoker gets older. A decline in health could also cause dependence on many medications, which can be very expensive.
Also, for those individuals out there who smoke in their homes and cars, the re-sell value will be negatively impacted because there is a smaller pool of potential buyers and less desire for homes and cars that smell of cigarette smoke. You may also be hit with higher car insurance premiums.

Next time, think before you light up.

-Savvy Student

Calculate how much it will cost you at: Health Status

DIY Halloween Costumes

With Halloween just around the corner we thought we could provide some last minute do-it-yourself costumes on a budget. You don't have to wait for the Great Pumpkin, you can create these costumes right in your dorm room. With a few simple items and just a few hours you are on your way to winning Best Costume 2009.

iPod Commercial

MATERIALS: iPod, black face paint, black clothing, black hat, black shoes, sunglasses

This costume is easy to do and you've probably got most of the requirements in your closet.

Dress yourself from head to toe in black. Black long sleeve shirt, black pants/leggings/black shoes.. then cover your face in black paint. You can use a cotton ball or make up sponge.

To really seal the deal, throw some wash out black hair dye. They sell packages of comb-in product at drug stores. If you are afraid of dying your hair, theres always the option of wearing a black skull cap.

This costume can become more fun with pure white accessories such as a belt, bracelets or a necklace. More importantly, don't forget to have your iPod on you! Pure white accessories like a belt, a string of fake pearls, bracelets, buttons or wingtips can really make this costume pop. Don't forget to wear the most important accessory: your iPod.

Another way to make your costume seem more like THE iPod commercial, throw a florescent piece of poster board behind you for the background.

Note: You will be dressed all in black so be careful when you're walking in the dark. A flashlight will help you be sure that you will be seen.

Hershey's Kiss

MATERIALS: Duct tape, three wire coat hangers, three rolls of tinfoil, scissors, two feet of toilet paper, blue marker

Bend two wire coat hangers into a circle around 4 feet in diameter and fasten together with duct tape, making sure to cover the sharp tips. Make a second coat hanger loop that fits easily over your head but won't slip over your shoulders.

Carefully measure from the edge of the neckpiece to the edge of where the base would be if it were to hang slightly below your hips. Cut eight or so pieces of duct tape to twice this length and double them over themselves to form straps. Holding all the doubled tape pieces together, trim ends so all pieces are exactly the same length.

Use 1-inch bits of tape to fasten one end of a doubled tape strip to the neckpiece and another to attach it to the base ring. Repeat the process every eight inches or so around the base ring, being careful to keep the tape strips perpendicular to both rings to develop a cone shape.

Once the cone is complete, you can add some tape crosshatching to make the cone more substantial and less prone to twisting.

Drape cone over the back of a chair and roll vertical strips of tinfoil, shiny-side out, around the outside edges of the cone, overlapping each sheet about 4 inches on either side. Firmly tape foil to cone struts from inside.

Cut out arm holes near the top of the cone and reinforce openings with tape so your shoulders are completely out of the cone.

Finally, write "Hershey's Kiss" in bubble letters in marker on a two-foot piece of quality toilet paper and attach it to your head. A brown or black turtleneck adds a bit more to the whole costume.

MATERIALS: Crisp white button-down shirt, mono-color tie, blazer (preferably tweed), blue T-shirt, hair gel, thick-framed black plastic glasses

Trying to become superman isn't easy.. those tight blue pants are hard to fit into. Lucky for you, Superman's alter ego, Clark Kent, is a bit easier to suit up as.

Clark Kent has two distinguishing characteristics: the trademark curled forelock and those thick-framed glasses. The former is just a matter of clever hair gelling, and you can usually find cheapo reading glasses in pharmacies that will do the trick if you pop out the lenses.

You can buy yourself a Superman tee, but better yet, lets save some cash and print out that logo from a Google image. Cut it out and put that on your tee shirt.

Wear your Superman duds under normal office attire — when you dress up think your lit professor. Just keep most of the buttons to your shirt undone so the logo is peeking out and your tie undone.

Bag of Jellybeans

MATERIALS: One large clear plastic trash bag, scissors, duct tape, two packages of round multi-colored party balloons (about 30 balloons total), one long strip of colorful fabric or ribbon

This is an oldie but a goody.

Blow up the balloons to about twice the size of your fist — the smaller the better.

Cut two holes in the bottom of the trash bag just wide enough for the thickest part of your legs to fit through. Wrap around the edges of holes with duct tape to reinforce.

Step into the bag and hike it up. The bottom of the bag should ride near the top of your hips. You don't want it any lower or you'll be walking around with the bag falling off all night. If you have to, you can tape the bag to your thighs.

Now, cut armholes in side for your shoulders stick out. Keeping bag slack in the waist, gather extra material around neck and trim away until you have about eight inches left. Take off bag and reinforce armholes with duct tape.

When you're ready to get going, step into bag and fill it loosely with balloons until they the come up to slightly below your armpits. Tie fabric or ribbon into a bow around your neck and then roll the lip of the bag downward.

TIP: If you want a break you can keep a spare plastic bag with you. If you want to take off your costume, tack the second bag to a wall and transfer all the balloons into it before trying to step out of it.

MATERIALS: Neutral-colored thermal underwear, at least 14 yards of 2-inch wide gauze or bed sheets cut into strips, baby powder

A mummy is classic, but using gauze instead of toilet paper is a bit classier.

To make the bandages look older and more "mummified" boil a pot of extremely strong black tea and let it cool. Soak your gauze in tea for a minute and then hang over shower curtain rod to dry. Repeat if bandages don't come out grungy enough for you.

Wearing the long johns, start by loosely wrapping gauze around your torso. You should wrap each section of your body separately to prevent yourself from slowly unraveling all night. Powder yourself liberally to add to the effect.

If you don't want to completely cover your face, you can make a pretty gruesome rotting flesh effect by mixing 8 tablespoons of all-purpose flour with 5 tablespoons of warm water. Mix the resulting dough with a small amount of Elmer's glue and apply unevenly to your face and let dry for 15 minutes.

MATERIALS: One umbrella, clear boxing tape, shiny materials (paper party streamers, iridescent ribbon, Mardi Gras beads, metallic finish fabric or even scrim from draperies)

If it's a dark and stormy night, this is the way to go.

Essentially you are just going to tape strips of shimmery material to the inside of an umbrella. This will look best if you can find a clear or translucent dome-style umbrella.

To get the best effect, start by cutting a two-inch thick tentacle for each panel of the umbrella. If you have bubble wrap, it will make the outfit look even cooler, and to do that just cut the strips diagonally between the bubbles for a more natural texture.

Once the main tentacles are attached, decorate the rest of the rim with thinner tentacles. Go crazy! This is a strange costume as is, why not have a little bit of fun with bubble wrap?

Investing in a handful of glow sticks that you can tape inside the dome's lip or suspend from the umbrella's spokes will add even more fun to the mix. Try hot pink or mix green and blue.

If you aren't using a dome umbrella and don't want to have something in your hands all night, cut off the umbrella's top, mush it flat and attach it to a hat.

MATERIALS: Two pieces of 4-foot by 4-foot cardboard, laundry marker, ruler, duct tape, masking tape

Suduko isn't just a game anymore when you take it up a notch and turn yourself into a live action game!

You're going to need two large square pieces of cardboard. Grocery stores will often give you free boxes if you ask nicely, but their quality and size may not be ideal. If you're in a rush, it might be easier to buy a shipping box at the post office.

Using a ruler, make a mark every 5 1/3 inches — or whatever the length of a side is divided by nine — on all four sides of both boards.

You will need two colors of tape to create the Sudoku grids, one darker than the other. If you don't have two colors of masking tape, you can just use a marker to color it in after the fact.

Use the lighter colored masking tape and lay straight lines of tape between the 1st, 2nd, 4th, 5th, 7th and 8th marks on opposite sides. Use the darker colored tape between the 3rd and 6th marks and for edging along the outside edge of each board.

Search the Web for two Sudoku puzzles and copy the clues onto your grids with marker.

Make the costume even more fun, hang a marker on a string around your neck so people can fill out the board as the night goes on!

HINT: Make sure you're not unsolvable, print out an answer sheet for yourself!

These ideas came from http://www.foxnews.com/story/0,2933,225758,00.htmlOther ideas can be found at http://www.ehow.com/halloween/costumelist.html

Another great site with lots of options can be found here: http://www.costumepage.org/hallocst2.html#hallo-howto

Happy Haunting,

Savvy Student

Halloween on a Budget

Has Halloween got you scared because those costumes are so expensive? Have no fear, Savvy Student has some thoughts on how to stay on a budget and still rock a great costume come October 31st. Here are some thoughts on how to find that perfect costume!

Clearance Halloween

Believe it or not, Halloween websites usually have a clearance section. Items from the previous year that are left over or costumes that are not new for 2009 are available on most Halloween websites. When you first visit an online Halloween store, check the 'Clearance' section first for some great deals.

Catching the Deals

You can do well buying costumes from retailers because of the nature of retail! Holiday products are already hitting the shelves and because of the push to move products, if you're not too antsy about choosing a costume, you can score a great deal. Usually, stores discount costumes the week before Halloween, so why pay full price for a costume that will be marked down in a week? Also, shopping after the season is a good time to think for next year. You can usually find costumes for 75% afterward and you will be happy next year that you did.

Think About Where You're Shopping

When picking out a costume remember that some stores will have better deals than others. While it might be fun to go to a costume store, the prices will be much higher than if you were to shop at a Walmart, Target or TJ Maxx, stores that need to move their products off the shelves. Discount drug stores such as CVS and Walgreens also have costume options at a better price point.

Halloween Shopping Online

There are a lot of options when it comes to shopping online and if you comparison shop you can get a great deal. Check for clearance sections, sales, and deals on shipping. Also, you can often times find a coupon for the website you're looking at by searching the retailer name on Google. ("Fright Costumes Online Coupons") Also, it's a good idea to check eBay or Overstock for costume deals, you never know what you might find. Overstock.com has one set shipping rate. To make sure you are snagging a great deal from eBay, be sure to check the cost of shipping before finalizing your order.

Costume Swapping

Many people have costumes that were worn once and haven't been used since, why not ask around and see if you can borrow? You never know what your roommate or hall mate might have already, and instead of buying something new, why not borrow?

D-I-Y

Don't forget that there is always the opportunity to do it yourself! Many times you can make a great costume out of things you already have! Play with your closet, ask a friend, get creative! Also, be sure to watch for our post on do it yourself costumes and with any luck you will have a unique and fun outfit just in time for trick-or-treating.

Hope you snag a Spooktacular deal,

Savvy Student

Just For Fun - Foreign Currency

Have you ever thought about traveling to Australia? Are you a fan of kangaroos or did you ever watch the Crocodile Hunter (RIP)? If not, no worries, but please keep reading because you may want to book a flight when we are done.

Australia is the first country in the world to use a complete system of bank notes made entirely from plastic. In 1988, to protect against counterfeiting practices, Australia converted their traditional paper notes to plastic. Under growing popularity, Note Printing Australia, a division of the Reserve Bank of Australia also created
money for several countries including Mexico, New Zealand, Romania, Chile and Bangladesh.

Polymer currency lasts up to 4 times longer than traditional currency. It is cleaner than previously used paper notes and is easily recyclable. Using this type of currency allows for the creation of imagery that reflects the history and natural elements of Australia. Australian currency is a combination of coins and polymer notes. Coins are available in 5, 10, 20, 50 cent and one and two dollar denominations. These coins depict such images as kangaroos, emus and the Australian coat of arms. The Royal Australian Mint, which produces these coins even won an international award for "Best Silver Coin 2006" for its Silver Kangaroo coin design. Australia's notes are available in 5, 10, 20, 50 and 100 denominations. These notes feature images of some of Australia's most famous including Her Majesty Queen Elizabeth II, poet AB "Banjo Paterson and inventor David Unaipon.

If you would like to read more interesting facts about Australia currency check out the Department of Foreign Affairs and Trade website here.

G'day Mate,

Savvy Student

Cheap & Healthy Recipes: The Sweet Potato Edition

It's time for another round of tasty recipes using cheap ingredients and simple preparation. We want to encourage students to start cooking because if you learn to cook delicious food you'll be less likely to resort to dining out. There are all sorts of social benefits to learning how to cook-- you'll impress your friends, your family, and perhaps that cute guy or girl in your Econ class.
We're featuring sweet potatoes because of their superior nutritional quality, the variety of ways in which they can be prepared, and their constant low price. Check out the wiki entry for more info on the amazing nutrition contained in these lovely root vegetables.
Try these recipes to get the most out of your cheap bag of sweet potatoes:

1) Candied sweet potatoes are delicious for dinner or dessert. They can be prepared with or without the marshmallow topping (though it certainly adds a little something). Prepare it for dinner and eat the leftovers cold with a bit of whipped cream for dessert the next day.
2) Sweet potato fries are delicious, but frying means mess, oil stains, and the added expense of buying a bottle of oil. Chop your sweet potato into wedges, bake them, and sprinkle them with paprika or brown sugar or whatever spice you're craving. This recipe will give you some basic instructions for making your baked sweet potato wedges.
3) Try this comforting minestrone to warm you up during harsh New England winters. Soups are perfect for reheating because you can freeze chunks of it in bags and defrost it under a stream of warm water whenever you want it.
4) Grill up some sliced sweet potatoes for an excellent addition to your barbecue. A great recipe is this one, which includes cinnamon and apples.

Sweet potatoes will keep in a cool, dry place for much longer than most other vegetables, so you can buy them in bulk. Try preparing the dishes above in bulk and storing them in the fridge or freezer. You'll always have something nourishing on hand to eat when you'd rather not cook a full meal.

Enjoy,

Savvy Student

Cheap & Healthy Recipes: Part One

We've been collecting our favorite cheap, tasty and healthy recipes for the past few weeks and we'd like to share them with you. Our criteria for selecting recipes is the following:
1) The meal can be prepared in advance in large quantities, frozen, and used for other meals
2) Many of the ingredients are versatile and can be used in a variety of other dishes
3) The ingredients are almost entirely whole foods (exceptions include condiments and certain time and money saving prepared ingredients)
To save space, we'll post the a brief description of the dish with a link to the full recipe.

Chickpea and Spinach stew with garlic, cumin and red wine vinegar. This recipe was featured at The Simple Dollar and edited from the original recipe to be less expensive and time consuming. There's even an instructional photo guide to help you cook!
Chicken fajitas with lime. The best part is you can customize this dish to meet your needs and tastes, and you can buy the chicken in bulk, slice it up in advance, and freeze! Frugal Scholar has an instructional video here.
You can use the ingredients for the first two recipes to make Grilled Chicken and Spinach Quesadillas. You'll find that the ingredients you'll buy for one Mexican dish can be morphed into a variety of other dishes-- fajitas, burritos, tacos, quesadillas, even soup!
Baked sweet potatoes. We don't even need to give you a formal recipe for this one because it's that easy! Just pop some potatoes in the oven at 400 degrees. Bake them for an hour or until soft. Slice them open, add a small amount of butter, some brown sugar, cinnamon and salt. One of these will fill you up and they are delicious at any time of the day. They are also ridiculously cheap and are considered a superfood. Keep some of these around for times when you'd rather not cook a labor intensive meal. We'll follow up with another post about all of the amazing things you can do with sweet potatoes soon.

For more recipes, try the ingredient search engine at All Recipes. You can input the items you already have on hand and find recipes that use them. Remember to invest in pantry essentials like flour, sugar, salt, rice and pasta whenever they are on sale. Having staples on hand makes it easier to invent new recipes.

Bon Appetit,

Savvy Student

Credit CARD Act- Do the Benefits outweigh the Drawbacks?

The current financial crisis has made our country reconsider how it manages debt and forces us to consider the initial cause of consumer debt and spending practices.

The Credit CARD Act, recently signed by President Obama, will go into effect on February 22, 2010 and includes several provisions for how to protect the consumer from devious credit card company practices. But how does this act really help the average citizen? And are there any drawbacks that will in fact hurt consumers more?

Benefits:

1. Retroactive rate increases- Rates cannot be raised on an existing balance unless payment is late by 60 days or more. The lower rate must be restored after six consecutive on-time payments.

2. Advance notice of rate increases- consumers will receive a whopping 45 days notice before core contract changes will be made.

3. Fee Restrictions- There will be no over-the-credit-limit fees unless the consumer approves over the limit transactions. Payments made on the due date must be credited as on the due date (no late fees!).

4. Restriction of card issuance to young people- Consumers age 18-21 must either prove they have adequate income or have a co-signer in order to be approved for a credit card.

5. No more double-cycle billing- Companies cannot base finance charges on the current and previous balance.

6. Fairer payment allocation- Above-the-minimum payments must be applied to the credit card balance with the highest interest rate first.

7. More time to pay- Companies must send statements 21 days before they are due.

8. Gift Card Protections- Gift cards will not expire for 5 years. Inactivity fees cannot be added unless the card hasn't been used for 12 months.

Per the site: http://www.bankrate.com/finance/credit-cards/8-major-benefits-of-new-credit-card-law-1.aspx

Drawbacks:

1. Average interest rates will likely increase- Rates have been increased to rebuild capital. Lenders may also cut your credit line to curb risk. Banks may do this more and more now before the acts' provisions take effect and prevent sudden rate hikes.

2. Return of annual fees- Since interest rate hikes will be difficult to implement yet customers will still demand perks, credit card companies will most likely add on annual fees to certain lines like reward cards.

3. Shorter grace periods- Current grace periods are about 20-25 days before interest accrues on purchases. While you will receive your monthly bill earlier than you used to, it does not make the grace period any longer. There may also be instances of cards with a longer grace period also having a larger annual fee.

4. Less juicy rewards programs- Rewards cards will most likely be curbed to avoid cost. Also, some previously free rewards cards may now come with an annual fee.

Per the sites:
http://www.cardratings.com/creditcardnews/
http://blogs.wsj.com/wallet/2009/05/19/what-the-new-credit-card-rules-mean-for-you/

So though this new act may protect many consumers from unmanageable, unyielding debt, the measures that card companies will have to go to to recoup revenue losses could affect those who make wise financial decisions and pay their bills on-time.

The wisest way to stay out of trouble is to continue timely payments, pay in full, and read the fine print when applying for a new card.

Safe and Happy Shopping,
Savvy Student

Pitfalls: Worst Credit Cards!

Choosing the right credit card can be a daunting task, especially if you are new to the credit market. MSN Money compiled a list of the worst credit card deals for several types of cards:

1. Worst Retail Card- MACY'S CARD

Interest rate: 23.99%
(Cards from J.C. Penney, American Eagle Outfitters, Gap, Brooks Brothers, J. Crew and Dillard's all have rates of over 20%!)
Advice: If you really want a store credit card, get one that is affiliated with Visa, MasterCard or American Express.
Ex. A Banana Republic Visa has an interest rate of 14.24% while the store-only card has an interest rate of 21.9%.
Note: Retailers and Specialty stores don't tend to have great offers.

2. Worst Cash-Back Card- MONEY RETURN PLATINUM PLUS VISA FROM BANK OF AMERICA

Terms: 10% cash rebate (ONLY if you carry a balance!!) and the annual percentage rate for carrying a balance ranges from 9.99% to 19.99%.
So you pay almost 20% to gain back 10%. Does that really make financial sense?
Note: If you pay your balance in full, cards that offer cash rebates are usually a terrific deal.

3. Worst Subprime Card- CENTENNIAL GOLD MASTERCARD FROM FIRST PREMIER BANK

Interest Rate: 9.9%
Fees: * A one-time account set-up fee of $29.
* A one-time program fee of $95.
* An annual fee of $48.
* A $7-a-month servicing fee, which equals an additional $84 per year.
Ex. If you are approved for a $250 line of credit, you pay $256 in fees during your first year of card membership and only have $71 available credit your first month.

4. Worst Secured Card- NEW MILLENNIUM BANK SECURED GOLD OR PLATINUM VISA OR MASTERCARD PLATINUM

Terms of Platinum cards: * $59 annual fee.
* $99 processing fee.
* 19.5% (interest rate) for purchases and balance transfers.
* No grace period.
Terms of Gold Cards: * $20 to $40 annual fee.
* application processing fee.
Note: Even if you pay your balance in full every month, you'll still owe interest charges on anything you charge.

Note: Secured cards are often the most consumer-friendly option for many consumers seeking to build or rebuild their credit. But be careful which one you choose.

5. Worst Prestige Card- VISA BLACK CARD ISSUED BY BARCLAY'S BANK

Terms: * $495 annual fee.
* 1% cash-back or points plan
* concierge service
* access to airport lounges

6. Worst Marketing for an Otherwise OK Card- AMERICAN DREAMCARD MASTERCARD BY HSBC

* This card encourages you to spend so that you'll earn "entries" to win "large monthly cash jackpots!"
* These jackpots grow depending on how much people spend, and you can win more entries by encouraging your friends to get the card.
* Advertised as "the credit card program that can make people rich!"

What is the lesson here? Thoroughly research the credit card you are interested in before you apply! You do not want to be stuck with unfavorable terms that provide no benefits.

Stay Smart,
Savvy Student

A Word to the Wise...

We have offered numerous tips on budgeting, saving and credit cards, but we would like to deviate a little to offer some suggestions on protecting both you and your money. We hope to make you less of a target while being just a little more aware of your surroundings.

There are four main tips we would like to reccommend...

1. Photocopy all contents of your wallet and keep in a secure file. If your wallet or purse are stolen you will have access to all of your bank cards and contact numbers better enabling you to report the theft.

2. If your wallet or purse are stolen, immediately report the theft to each of the three credit reporting agencies: Experian, Equifax and TransUnion. Then report the theft to your bank, etc. Additionally, you should be checking your credit report for inaccuracies annually at, you guessed it, annualcreditreport.com. The report is free, the credit score is not.

3. How many times have you pulled up to the gas tank to fill your car and not locked your doors??? Ladies, if you have a purse most likely you leave it on the passenger seat. If your car is unlocked while you are filling up anyone can grab your purse and run. Be safe and lock up.

4. Many of us eat out and instead of paying with cash we use our debit/credit cards to pay. When the actual bill comes out we don't think twice about writing in the tip amount and total. However, by doing this we are creating an easy target for dishonest people. If we do not clearly indicate the amount of the tip or bill total, adjustments can be made well after we have settled the bill. To protect ourselves, it is a good idea to place the dollar symbol ($) directly in front of the amounts we are charging. This way the total can not be adjusted or increased. Please keep in mind that most of the time you are dealing with honest, hard working individuals, but just one person can spoil it.

Once again, our goal is to help you become less of a target, so if you have any useful tips please let us know and we will post them.

Thanks!

Savvy Student

How to Avoid Scams When Dealing Online

You probably know by now that a Kenyan Prince whose offer to transfer $10,000,000 to your bank account in exchange for a "business partnership" is a total scam. However, there are other scams lurking on websites like Craigslist that are a bit more difficult to spot. Offers of employment that seem too good to be true or fabulous two bedroom apartments that cost less than a dingy basement studio are likely scams or offers with surprise fees attached. Here are a few red flags to help you spot a scam from a mile away:

1) Check out the email address from which you are receiving correspondence. If the address has been anonymized, delete the email and move on. If not, google the address to see if others have experiences that may benefit you. If you don't get many results after googling the entire address, try googling whatever comes after the @ symbol. See if the organization is legitimate before you respond. For apartments that are listed as "by owner" you should be receiving emails from a personal address.

2) Hover over any links contained in emails or ads before you actually click them. If you see a .com or .org domain, move on to step 3. If it is a foreign domain, it's likely a scam.

3) Not all .coms and .orgs are legitimate, so use the google step in #1 to find out more information about the site and the sender.

4) Use the google maps street view feature. Not all addresses will show up in street view, but it's worth trying. Simply input the address of the apartment or house in the ad and take a look at the exterior of the dwelling and the surrounding area. You can find out if the location is being misrepresented in the ad rather quickly using google maps.

5) Make sure the pictures contained in the ad match, and that the photos are not generic apartment pictures that circulate all over the internet. For example, you'll find that there will be many postings describing different apartments that contain the exact same picture. If this is the case, you're probably looking at ads from a broker and the photos may not be the most accurate portrayal of the apartment. You're probably looking at pictures of the best apartment in the building, not the actual apartment for which the ad was made.

6) Do the photos within the ad match? For example, if there are two pictures of the living room, does the carpet in both pictures match? Is the lighting significantly different in both pictures? If so, you may be looking at generic pictures that do not actually represent the apartment.

Whenever you're looking at ads for apartments, furniture, or anything that could potentially involve a monetary transaction please be advised that the more information the seller leaves out or misconstrues, the more likely it is that the ad is a scam. Don't even bother replying to ads that seem suspect, because doing so may open up the floodgates for a series of annoying emails.

Post a comment to our Blog and let us know how we are doing. If you have any tips for avoiding scams let us know and we will post your suggestions.

Thanks,

Savvy Student

Becoming More Productive

We live in a time of distractions. Composing text messages, writing twitter tweets, updating blogs, completing homework assignments, checking email... the list goes on with every new communications innovation and social networking outlet. We enjoy our distractions, but our responsibilities at school and work either fall by the wayside or get put off until they become overwhelming. Our cell phones and laptops connect us to the world but disconnect us from our goals, and it's time to take a step back and evaluate how we can separate our social lives from our school and work lives.

1) Eliminate all current distractions.
Settle that fight with your significant other, call your grandma and thank her for the birthday gift, and tidy up your room or apartment. We have the tendency to let little stresses collect and overwhelm us, but they don't have to get in the way of producing quality work. You'll feel more relaxed and ready to write a paper or tackle a problem set when you don't have to look at that huge pile of dishes in the sink every time you want a study snack.

2) Exercise your muscles, exercise your brain.
Accomplishing large tasks require energy, and there's no better way to optimize your energy levels than to get small amounts of exercise throughout your work session. Instead of taking Facebook or email breaks, set aside five minutes every half or full hour and do some stretching. Jogging in place, jumping jacks, and brisk walks are energizing and refreshing ways to give your brain a break while maintaining the energy you'll need to finish your project.

3) Reward yourself, but don't get caught up in the rewards.
Many people will tell you the best way to be more productive is to give yourself rewards throughout your work session. This can be problematic when the rewards become more frequent than the actual work. Feel free to grab a snack or a coffee after working for one solid hour without distractions, but remember that the greatest incentive is completion, and always work towards the finished product.

4) Finish the most unpleasant tasks first.
If your project requires a lot of research or other detail intensive tasks, finish those first. It's never a good idea to get knee-deep into a paper and suddenly realize you need a source to back up your claims. Stopping to do research can mean halting an excellent flow of writing, and the frustration that will ensue will slow down completion even more.

It is true that breaking a pattern of procrastination is very difficult. We've become so used to this habit that we have forgotten how it feels to finish our work before the deadline. Now that the semester has begun, try completing your first assignment a few days before the deadline. You'll likely recognize the mental, physical, and academic rewards almost immediately.

You may be wondering why we're posting productivity tips in a personal finance blog. Consider this: time really is money. You should value your time and ascribe a significant loss in net worth to wasting it. Think about how much money you could have made or saved by working more efficiently. If you have a part time job, consider that the three hours you spent checking your email or refreshing Facebook could have garnered you $25 (assuming you make around $9 an hour). The full night's sleep and decreased stress level are added bonuses.

Good luck,

Savvy Student

Coupon Prices Without the Cutting

Want to get some deals on groceries and other items but can't stand the idea of sitting down in front of a pile of circulars and cutting out coupons? Welcome to the wonderful world of printable coupons! There are various websites where you can find not only printable coupons, but free shipping or discount codes for all kinds of online retailers. The following sites will help get you started:

1) Coupons.com
This site could not be easier to remember. Every day you'll find over 50 printable coupons for grocery items, toiletries and household products.

2) Retailmenot.com
This site is great for finding free shipping or discount codes for online retailers. Individual users submit codes and other users rate the codes for validity. It's easy to see which codes have expired and which codes were never valid at all because of the neat user comment feature. Any time you buy something online, be sure to check out Retailmenot for a discount code before you make your purchase.

3) Smartsource.com, couponcabin.com, couponmom.com
All of these are fairly similar to coupons.com, though you'll find a few unique coupons on each.

4) Slickdeals.net
This site is a mix of paper coupons and online discount codes offered up by fellow consumers.

5) Spoolads.com
This site was offered up by a Brandeis IBS student who uses these coupons to save money when ordering out. Not only can students get discounts on pizza and subs, but there are even coupons for auto repair shops.

If you have used any of the coupon sites above please tell us about your experience. Additionally, if you have any money saving tips let us know and we will post them.

Thanks,

Savvy Student

Just For Fun

Although, money can't buy happiness, it does provide a short term emotional release. In fact, when we give a gift to someone the emotional utopia is said to last longer than when we spend money on ourselves. So, if we were given $20 to spend we would be happier, longer if we spent it on a friend.

An article published last year in the LA Times further proves the point that money is tied to our emotions. So much in fact, that we would be willing to fore go free money to feel like we were coming out ahead. Research shows that people would rather earn $50,000 a year when others earn $25,000 a year instead of earning $100,000 when others earn $250,000. Sadly, we as a whole would earn $50,000 less just to feel like we were earning more. If you want to view this article click here.

Do you have any fun stories about money, myths or interesting phenomenons? Please send your comments to sfs@brandeis.edu and who knows we may even post it!

Toodles,

Savvy Student

How to Stop Buying on Impulse

If you think you're ready to take control of your finances (we sincerely hope you are), Fabulously Broke posted "5 Finance Basics" that may help you get started. We've posted many of these tips already, but we like how FB simplifies the process into five easy steps. Check out the post here.

Before you start budgeting, you should remember to assess what is really bleeding your wallet dry. Are you an impulse shopper? Is it hard for you to walk by a cafe without buying a latte? Does a sale sign on the outside of a shop automatically lure you inside? If so, impulse purchases may be ruining your financial situation.

You may be wondering how to stop impulse buying when doing so is often tied to uncontrollable emotions. For example, many of us will get bored and decide to go shopping, while others will use shopping as a reward for doing well in school, at work, or in our personal lives. The first step is to find out what makes you spend money. If you're bored, remind yourself that buying things is not a sustainable solution to the problem-- that pair of shoes on sale will not provide you with any relief from your mood after the additional purchase. If you're using shopping as a reward, remind yourself that every time you make an impulse purchase, you're digging yourself deeper into financial instability. You'll realize that shopping is a shallow, unsustainable way to make yourself feel better.

The second step is to come up with something to fill the void. Boredom is usually not the result of having nothing to do. If you're creative, you can always come up with something to do. I don't mean you should force yourself to clean your room when you're bored (that's what my mother used to say when I complained), but that you should seriously consider trying something new. Start a decorating project for your room, take a long walk outside and contemplate life, just do something! You'll never stop being bored if you don't try something new.

Finally, you need to make saving money a good experience, or you'll never want to do it. Every time you put a dollar away, you are that much closer to your goal. Learn to appreciate the long term goals and not just the short term relief of spending money.

Good Luck,

Savvy Student

First-Year Finances 101

Entering your first-year of college is an exciting yet overwhelming experience. While academic and social concerns are probably high on your list, don't neglect your financial needs. Learning some tips and monitoring your accounts will ensure that you won't go broke by Halloween.

1. Splitting the Bill with your Parents- Before move-in day, take an hour to sit with your parents and discuss who will be responsible for which expenses. Perhaps mom and dad will buy your books as long as you pay for your dinners out. Save your summer job paycheck or land a job on campus to avoid getting in a bind.

2. Understand your Financial Aid- If you have a merit scholarship, understand the terms you need to abide by to keep it. Some merit scholarships require you to re-submit the FAFSA each year. For need-based aid, understand the terms of your loans and ask questions if you aren't sure. At the beginning of the year, students need to sign promissory notes and go through entrance counseling for their loans. Students need to re-apply for aid every year!

3. Which Bank?- If you haven't already done so, set up a checking account! Look for a bank that has a free debit card and low minimum balance requirement. As of this coming year, 09-10, all working students must have direct deposit.

4. Plugging Money Leaks- Watch your spending from the day you move-in. Evaluate your spending after one month and see where most of it is going. Are you running off campus to Dunkin Donuts for coffee every day? Use your meal plan to get coffee on campus or even brew your own. If your budget can't accommodate all of your spending, decide which items you can go without or pick up extra hours at work.

5. Monthly Transfers- Consider having your bank transfer a fixed amount monthly that will help with living expenses. If you transfer all of your money into your checking account at the beginning of the semester, you may spend it more freely than you should.

6. Consider Credit Cards Carefully- If you don't have much experience managing your money, you may want to wait to acquire a credit card until you've used your debit card, balanced a checkbook and familiarized yourself with your online accounts. Once you have the knowledge and experience to spend wisely and pay your bills on time, then you should apply for a credit card. It is easier for students to get a credit card than for those who graduated so you should have one before graduation.

7. Communicate with your Roommate- Most incoming students will have a roommate. Both of you will want to outfit your room to suit all of your needs and may agree to split some of the big ticket items like a fridge or TV. However, you may want to agree to bring separate items (i.e. roommate 1 brings the fridge, roommate 2 brings the TV) instead of splitting the cost of each item, in order to avoid ownership spats later.

8. Safeguarding your Financial Information- Keep things like bank statements, your social security number and other personal financial information tucked away in a safe location. You may even consider buying a small safe.

9. FREE- Always look for cheap or free entertainment and food. This is bountiful on a college campus. Attend cultural events, sporting events, club activities. There will sometimes be free or cheap concerts and events to go to in Boston. If properly thought through, you could eat for free for weeks.

10. Student Discounts- Always ask if there is a student discount. You can get them at places like the movie theater, museums, even car insurance. That's right, you can save on car insurance by being a good student.

Welcome to College,

Savvy Student

Landing a Job on Campus

On-campus employment gives many students their first opportunity to gain experience while allowing them to earn a little extra cash. In many cases, students depend on their on-campus jobs to help afford the small, but frequent expenses associated with living away from home. Things that were once free, like cleaning supplies and use of a washer and dryer are suddenly going to cost money, and working a few hours per week is a great way to earn enough money to pay for these little necessities while saving something for the future.

Student’s wanting to work in the U.S. must prove that they are eligible for employment and Brandeis is no exception. Before beginning work, students must complete several forms and provide appropriate documentation proving their eligibility. The process of gaining employment is rather simple, but the documents can be somewhat confusing. Our hope is to clarify the process thus allowing students to begin working in a timely manner. Please review our advice below for student employment.

1) Be Prepared In order to work on-campus you will need to provide appropriate documentation proving you are eligible to work in the U.S. Please look at the List of Acceptable Documents and come prepared with the proper forms. The Office of Student Financial Services will only accept original documents, copies are not permitted. If you are and international student you must have a social security number before you can begin working. Please visit our office to pick up the appropriate form to begin the process of applying for a social security card.

2) Complete All New Hire Paperwork and Obtain a “Blue Card” Once you receive a job offer you will need to visit The Office of Student Financial Services. You will be asked to complete all new hire paperwork including our I-9 Employment Eligibility Form, W-4 Federal Tax Form, M-4 Massachusetts Tax Form and if you are international student the Foreign National Information Form. Once you complete the I-9 and W-4 Forms you will be issued a “Blue Card”. Be sure to keep your card in a safe location as it indicates to employers that you have completed all of the necessary paperwork. For those of you receiving financial aid, the blue card will also tell employers whether or not you are receiving Federal Work Study or University Employment. If you misplace your card don't fret just pay our office a visit and we'll sign a new one for you.

3) Complete and Submit the New Hire/Rehire Form This document must be completed by both you and your hiring supervisor before you will be added to the Brandeis Payroll System. Additionally, this form is requested for every new job you are offered.

4) Sign Up For Direct Deposit Beginning this year, all Brandeis employees (students and staff) will be required to participate in direct deposit. Direct deposit ensures that your money will be deposited directly into the account of your choice either checking or savings and replaces having to manually deposit checks.

*Only students with Federal Work-Study or University Employment will be permitted to work prior to October 1^st.

We also field several questions regarding Federal Work-Study and we have included a brief Q and A below.

What is work-study and how do I get it?

Federal Work-Study is a work program funded by the federal government whereas University Employment is funded by Brandeis. Students may work either on-campus or at an approved off-campus community-service agency. To elaborate further, the work study program is offered to those students who complete a FAFSA and demonstrate enough need to be eligible for the program. University employment is strictly offered to international students and restricts their ability to work off-campus. Both programs are awarded for the full year.

Is work-study deducted from my bill? Will my paychecks go directly to Brandeis?

While work-study is considered a part of the total financial aid package, it is not deducted from the bill. Instead, work-study students are responsible for finding employment and will be paid through weekly deposits into their accounts. This money can be used to pay for life's necessities like laundry and toiletries. These expenses are actually built into the Cost of Attendance budget which is used in calculating financial aid.

What happens if I get a job and my work-study allotment runs out?

Fortunately, many on-campus employers will keep work-study students on even when their allotment runs out. Depending on funding, other employers may have to terminate their students. Any concerns about work-study should be directed towards the Assistant Director of Student Employment, Kristyn Burke or the hiring supervisor.

What makes work-study more beneficial than regular on-campus employment?

Work-study students have the advantage of being able to apply for jobs as soon as school starts, while students without work-study cannot be hired until October 1st. Additionally, work-study earnings will not be considered as a part of the financial contribution in determining eligibility for aid.

How can I find an on-campus job?

The Office of Student Financial Services will list all employment opportunities online at “brandeis.edu/offices/sfs” under “Job Opportunities”. Our office also hosts a job fair every fall where students can meet employers to discuss potential opportunities and complete applications on the spot.

Have any more questions about student employment we haven't covered? Let us know by sending us an email to sfs@brandeis.edu or leaving us a comment on this post.

Happy job hunting,

Savvy Student

Buying Textbooks without Breaking the Bank

The beginning of a new semester arrives in a flurry of setting up dorm rooms, catching-up with friends and preparing for classes. And in all this preparation, students must face the burden and expense of buying their course textbooks. All students know the harsh feeling of sticker shock as they watch their total climb higher and higher out of the realm of affordability. Yet as painful as the buying process can be, receiving 10% of the cost of all those books back when selling is even more defeating.

So, with the acknowledgment that textbooks are a vital part of your educational experience, what can students do to ease the burden?

Buying Textbooks:

While the campus bookstore may be the most convenient and fastest way to acquire all of the books you need for the semester, you may save money by doing a little digging first.

1. Buy Books Online-

There are many online companies that sell textbooks. E-bay, half.com and Amazon are all obvious choices, but there are many other smaller companies that offer good deals. It's best to start looking as early as you can to compare prices. Of course, you should also try to buy early to ensure that your books arrive in time for your first class.

2. E-books-

This option can be less expensive than purchasing paper books. E-books can be read on a personal computer, and it is sometimes easier to carry around one laptop over several heavy textbooks. However, there are a couple things to consider when buying an e-book. Some textbooks are not available in electronic format. Also, you must have a computer and if the book is needed in a class where the professor forbids laptops, you could be unprepared.

3. Borrow or Buy from a Friend or Split the Cost of a Textbook-

Ask around with the people you know who may already have the textbook you need. See if they would be willing to lend it to you or sell it for a low price. You often get the best bargain for books by making a deal with another student.

Another option is splitting the cost of a course text with another student taking the class. Of course, this requires greater coordination and cooperation between the students sharing the book. It also may not be practical for classes with heavy emphasis on the reading material.

4. Library Reserves

Often, Professors will put required texts on reserve at the library. If you are willing to hike over, you can borrow the book for two hours at a time. With this option, you get the textbook for free. However, it requires greater planning on your part to make sure you get to the library early and allow for the possibility that another student may have already borrowed the book.

5. If all else fails, or after considering your options and you feel as if buying at the university bookstore is best for you- buy used. Some "used" books come at significantly lower prices than its' "new" counterparts.

Some other things to consider:

- Discuss with your Professor the possibility of scanning the necessary portion of a textbook onto LATTE instead of requiring students to buy the entire book.
- Ask your Professor if sharing a secondary text is appropriate.
- Ask your Professor what older editions of the text are usable for the course.

Selling Textbooks:

1. Sell Online-

You can often get more money back for your textbooks by selling them online if you price them competitively. There are a couple of online options. First, you can sell to an online company like Barnes and Noble Textbook Buyback, which will pay you a greater percentage of your textbook than the bookstore usually would. Second, you can sell online directly to a buyer through web-sites like Amazon and half.com. However, both of those companies take a small cut of your profit (usually around 15%). You must also ship the book and wait for payment while the bookstore provides instant gratification.

To sell a textbook online without facing a cut in your profit, post your wares on craiglist.

2. MyBrandeis-

The MyBrandeis forums are a great place to sell textbooks because the students viewing your ad are Brandeis students who may take the same course with the same required reading. It is often easy to meet up with the student for the swap because you will both be on campus at the beginning of the semester.

3. Sell by Word of Mouth or Post Ads-

Ask your friends if they will be taking the course that you have the textbook for, or if they know someone that will need it. You can also post fliers around campus advertising the textbooks you will be selling, and at what price.

4. Second-Hand Book Shops-

What to do with all of those novels you bought for Brit Lit? Well, second hand bookstores may buy them! Of course, the point of selling your books is to make money and the point of a second hand bookshop is to sell cheap books, so they may not pay you top dollar. However, if the campus bookstore won't pay you anything, it is a better deal.

5. Donate to libraries or charities

Some donations are tax exempt! That's another way to save money.

6. Of course, if you're too lazy to list your books online or lug them to a bookshop farther away, the campus bookstore will pay you for many of them. The buyback quote tends to be up to 50% of the sticker price assuming the book will be used the following semester. Be sure to bring your books in early because if the book is being used again, the bookstore may only buy that book until it has enough for enrollment. The bookstore may also use things like Brandeis and national demand to price books.

You can save on books without sacrificing your educational experience. To make sure you are getting the best deal, compare options and do the legwork yourself.

Welcome Back,
Savvy Student

College Shopping: By the Season

Department stores score big with back to school merchandise. From computers to small appliances and even bedding, the summer months can be very rewarding for big box stores, and because of the increased demand for these items, you won't find the best deals. By waiting to make your purchase you can save money on almost everything you need for college.

We already covered an article about the products and services that are at their lowest prices due to the economic situation, but did you know that pricing on certain items is cyclical with the seasons? Kiplinger compiled a list of the "Best Buys" for each season, and we have decided to feature the most popular items we think college students are buying.

For Fall:

Travel: We don't recommend you splurge on a vacation during the Fall semester, but if you're planning to spend time off campus in any of the surrounding areas, you'll find the best deals on day trips and tourist attractions in the fall.
Baking Supplies: Grocers will offer deals in anticipation of the holiday season, so if you're a baker, stock up in November! You should keep some baking supplies in your room to save you money during those late night study sessions when you're really craving a chocolate chip cookie. You can also use your baking skills to make new friends. Every college student loves free food!
Appliances: New models flood the stores in the fall, so you can get a deal on last year's microwave or blender when retailers are most inclined to move their stock.

For Winter:

Computers: If you're ready to purchase a computer for school, you may be able to save a ton of cash by waiting a few months. There are plenty of computers you can use on campus, so try to hold out. You'll likely score an even better computer than you otherwise would have if you rushed to make the purchase over the summer.
Linens: Avoid the rush in the fall and and wait until January to buy most of your bedding for your room. It's true that you'll need to find twin extra long sheets, so bringing your sheets from home temporarily may not be an option, but you don't have to buy more than one set before you go away to school. You can stock up on back-up sets in the winter.
Digital Cameras: If you're an amateur photographer or you just want something to capture all of your first-year memories, wait until January to find a great sale on a digital camera.

For Spring:

Outerwear: Maybe spring is too late to purchase your coat, but if you are looking to replace the one that was ravaged by the New England snow and ice, you can find some closeout deals on last season's stock of coats.
Utensils and Kitchen Gadgets: If you're moving into an apartment or into a dorm with a kitchen, you'll need some kitchen supplies. Buy your colanders and forks in April or May. This is also helpful for graduates!

For Summer:

Swimwear: Shop for next year's swimsuit in August or early September. You'll probably get some use out of it towards the end of the season, as the weather tends to stay fairly hot well into September.
School Supplies: Office supplies will be at their lowest prices during the summer. You can stock up on these, but remember to wait it out for your dorm room decor.

Check out the full article here.

Timing is of the essence when it comes to shopping for deals. Keep the season in mind when you're shopping, have a little bit of patience, and you'll come out of the stores with cash to spare.

- Savvy Student

Credit Terminology

Anyone who uses a credit card or who is considering getting one must be savvy with the important terms that make you a responsible consumer. Know what credit card companies are talking about so you can be in charge and manage your account:

The Basics:

1. Annual Percentage Rate- A yearly rate of interest including fees and costs paid to acquire the loan.

2. Average Daily Balance- Determined by adding each day's balance and dividing it by the number of days in the billing cycle. It is then multiplied by the monthly periodic rate, and determines the monthly finance charge.

3. Cardholder Agreement- The written statement giving the terms and conditions of the credit card account. It must include the Annual Percentage Rate, the monthly minimum payment formula, annual fee if applicable, and the cardholder's rights in billing disputes.

4. Pre-approved- This simply means that a person passed the initial credit-information screening.

Activities/Actions:

1. Balance Transfer- The process of moving an unpaid credit card debt from one issuer to another.

2. Grace Period- If you do not carry a balance, then the grace period refers to the interest free time between the transaction date and the billing date (usually lasting around 20 or 30 days). People carrying a balance do not have a grace period.

3. Minimum Payment- Refers to the minimum amount a cardholder must pay to avoid going into default. Most minimum payments are 2% of the outstanding balance.

4. Teaser Rate- Also referred to as an introductory rate, it's a below-the-market rate used to entice new customers to use that lender.

5. Variable Interest Rate- The percentage that a borrower pays for the use of money, which may move up or down depending on changes in other interest rates.

Trouble:

1. Forbearance- The lender "stops the clock" in a way. You still owe the full balance and already accrued fees which you will have to resume paying when the clock starts again. This is a temporary arrangement made under specific circumstances such as a loss of employment.

2. Workout- Similar to a Debt Management Program, the bank may eliminate fees and cut your interest rate to get your finances under control. It may result in a lower credit limit and you may have to agree to stop using the card.

3. Settlement- The lender agrees to take less than your full balance as payment. However, your credit score will take a huge hit as if you were filing for bankruptcy. Usually you would make three lump-sum payments.

4. Bankruptcy- It's the last step and an arduous, expensive process that will severely impact your credit score. Sometimes, however, it is the only option left.

Do your own research and ask questions when something confuses you so you don't end up in trouble because of something you didn't understand.

Read the fine print!
Savvy Student