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

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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

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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

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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

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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

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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

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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

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