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

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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

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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

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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

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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

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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

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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

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