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!

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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

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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

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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

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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!

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'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

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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

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