Superbowl XLVI: Giants VS Pats VS your education?

It's that exciting time of year when football fans everywhere will gather around their televisions and enjoy the annual Superbowl Party feast. With tickets costing upwards of $2,500 and with 30 second ads going for as much as $4,000,000, this savvy student can't help but wonder just what that kind of money could be used for at Brandeis.

Did you know?
The cost of two tickets to Superbowl XLVI is greater than the cost of taking a four credit course at Brandeis University.

Did you know?
With the money that some big spenders are paying for a simple 30 second ad during the Superbowl ($4,000,000), you could pay Brandeis tuition and housing for 80 students.

And, it isn't just the fans and companies who are throwing all of their money into Superbowl XLVI. The city of Indianapolis, which is hosting this year's big game, signed a lease that ensured a large profit for the NFL. Not only are "all rental and use fees... waived," but in addition to that, "The NFL also gets 100 percent of all money from ticket sales, concessions, and premium-priced merchandise." Essentially, the NFL takes over the Lucas Oil Stadium in Indianapolis for a solid month and takes 100 percent of all of their profits.

With all of these combined methods of profit, from ticket sales to ad space to the profit they are receiving through their agreement with Lucas Oil Stadium, these NFL tycoons could probably pay for the college tuition and housing of at least half of the students at Brandeis University and still have a hefty amount left over.

One thing is for sure, there's more to this game than a simple Brady/Manning rematch. Each player is given 15 Super Bowl tickets for friends and family- that's roughly $36,000 or almost a year's worth of tuition for one student (times all the Pats/Giants players), and we are not even talking about the cost to hire security detail or referees. So, when you are tuned in to the February 5 game think about the money invested in producing such an important sports event and how the top commercials impact you as a consumer.

Go Pats! Go Giants!
Savvy Student


Source:
http://www.wthr.com/story/16583105/contracts-outline-nfl-control-of-lucas-oil-stadium-convention-center

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The Cost of a Cup of Joe

Starbucks recently announced a price increase of 10 cents per cup which some may chalk up as just another increase or sign of the times, while others may think of it as a direct hit to the coffee consumer. Either way, Savvy Student wanted to look deeper into the increase to see how it really impacts the wallet, especially since students like their coffee and often times more than once per day.

Here in Boston, many are willing to spend as much as $6 a day on coffee. If this habit is kept up for one year it would be at a cost of over $2,000. For those purchasing one cup a day at an average cost of $2.50, the annual investment is near $1,000.

There are cheaper alternatives. For those not interested in drinking yesterday's left overs, K-cup is a good option. Coffee machines like Keurig are set up to conveniently brew one cup at a time. But while this cup of joe isn't as much of a budget buster as the one you may buy at Starbucks or Dunkin, it still costs money. K-Cups, for the keurig machine, can cost 84 cents a cup.

If your budget is tight your best option may still be the old school pot of coffee. According to a recent survey conducted by Consumer Reports, a bag of Starbucks coffee was compared to a bag of Walmart's Great Value. For both price and taste Great Value beat out the coffee chain at a rate of roughly $3.50/bag versus $8 per bag of ground coffee.

As prices rise on many consumer goods, its important to cut costs wherever we can!

Stay savvy!

Sources:
Tuttle, Brad. "No Joke: Walmart Coffee Tastes As Good As Starbucks | Moneyland | TIME.com." Moneyland | Financial Insights from Your Wallet to Wall Street | TIME.com. Time, 4 Aug. 2011. Web. 04 Jan. 2012. .

Tuttle, Brad. "Starbucks Raising Coffee Prices in Northeast, Sunbelt States | Moneyland | TIME.com." Moneyland | Financial Insights from Your Wallet to Wall Street | TIME.com. Time, 04 Jan. 2012. Web. 04 Jan. 2012. .

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To tip, or not to tip, that is the question

What do the following professions have in common: a waiter, a hair dresser, a taxi driver and a pet groomer?



Answer: Tips



Tips are considered a part of their wages, and as the patron you are supposed to offer a little compensation for their services! But, ask anyone and I am sure they will admit to being unclear as to what is considered fair. Sure, tipping the wait staff at restaurants has become routine, but visits to a hair salon or spa, taking a taxi or using a concierge service are more likely to be done on occasion. Therefore, most people are not as confident with tipping etiquette for such services.

Boston.com has prepared a brief guide to tipping that will help you in those oh so uncomfortable situations, and this is far better, less cliche than the plastic, wallet size tip charts we had decades ago. For example, if you buy take-out food tipping is not expected from you, but if you are getting a manicure 15% tip is the way to go.

Interestingly enough, according to a survey by PayScale.com , 52% of hotel maid service income consists of tips, and such compensation covers up to 41% of a rabbi's income!

Some other important tipping highlights to keep in mind: tip the bar tender $1 per drink or 15% of the total bill, tip your delivery food person 10% and $2-5 for your cab driver.

Happy Holidays from Savvy Student!!!!

References:

http://www.pfadvice.com/2006/12/18/how-much-should-you-tip/

http://www.getrichslowly.org/blog/2006/10/12/basic-tips-on-tipping-how-much-and-to-whom/

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The cost of your skipped classes

Have you ever wondered how much it costs you every time you choose to skip a class?

Savvy Student decided to calculate the approximate amount and here are the results.
If you take Brandeis per semester tuition of $20,257 and divide it by # of classes you are enrolled in, and then by 15 weeks of instruction, you will end up with about $337.61 per class per week.

If you take four courses per semester, each class is worth about $112.53!

On one hand, tuition is a set cost, so if you choose to take five classes the cost per class will go down. It also obviously does not matter whether you go to all or none of your classes since the tuition will remain the same.

Economists sometimes refer to this fallacy as the "sunk cost fallacy". Once you have paid your tuition, these funds have already been "sunk," and thus don't play a role in your decision making. Interestingly enough, animals and small children don't think this way!

On the other hand, there is an opportunity cost to every class you skip, which consists of the information you miss out on. So, really, unless you have a flu, you should always attend your lectures.

However, in case you ever doubt whether or not you should be going to class, you can always use the Skip Class Calculator , which, after asking you several questions about the course, will tell you whether the skipped class is likely to play a big difference in the long-run!

However, if you are studying for your finals now and wondering how you could have helped yourself be more prepared, the answer of course is, by going to class. And now you know that you would have also saved $$$!

Good luck with finals ;)

Savvy Student

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Money Matters - at Home and Abroad

The questions that our office gets concerning Study Abroad Financing are infinite...
It is time for the SavvyStudent to try to clarify those, so read ahead!


BEFORE YOU GO ABROAD:

The main things to keep in mind:

- Pay Brandeis tuition by January 6th, 2012 (this will also include a study abroad fee of $400).
- Make sure you are aware what the costs are for your program's room and board, and you have received that bill as well.
- If needed, book an appointment with a financial aid advisor to discuss any additional options you have to assist you with the fees. Please, do so by contacting us at (781) 736 3700.
- If you are planning to use a Brandeis financial award when abroad, be aware that Credit Refunds will not be processed earlier than 10 days before the start of classes in the Spring semester. This means no earlier than January 7th. Please, account for mailing time if requestuing the check to an address abroad or in the US.
Please, refer to our comprehensive post from this spring for further details.


ONCE YOU ARE ABROAD:

Savvy Student won't be able to provide you with a spreadsheet for all the costs you will encounter when abroad, however, these are some questions you should strat thinking about:

- To prepare, first, do research on your country destination: what is the currency conversion rate? What is the average cost of a meal? How much does public transportation cost? Can you save by buying a pass?
- Most programs will send you a brochure containing most of the answers to the above questions, however, some research won't hurt. You can always contact students who have already done the same program and inquire of their monthly budget. The Study Abroad Office has an alumni base for all Brandeis approved programs, don't hesitate to utilize that! Keep in mind - everyone has their own spending limits!
- This being said - what is your budget going to be? Does your program provide daily/weekly meals? Are you planning to go out? Will you cook? Will you have to buy pots/pans? Buy souvenirs for 25 relatives? Shop for clothes? Travel around the country or abroad? PLAN ACCORDINGLY!
- Depending on the area of the world you are travelling to the cost of living may be higher or lower than in the U.S. However, regardless of where you are, be ready to face the fact that you will have more expenses than you would normally have at Brandeis. If you have a student job on campus, your student visa won't necessarily allow you to work in the country you are - so make sure you have pocket money on you!

If you have more suggestions or comments on how to budget abroad, please, feel free to share them with Brandeis Savvy Student! Your feedback is always welcome!

~Savvy Student

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The Real Deal on the Occupy Movement- How Much it's Actually Costing

On the eve of the two month anniversary of the Occupy Movement, NYC Mayor Bloomberg commented on his decision to clear out Zuccotti Park, saying, "Protestors have had two months to occupy the park with tents and sleeping bags. Now they will have to occupy the space with the power of their arguments"

This statement and the Occupy Movement have truly become a symbol of the latter half of 2011 reflecting the dramatic downfalls in the economy and public dissatisfaction with the decisions made by politicians in attempts to tackle these problems. The protest has quickly spread around the country being taken on by the enthusiastic "99%". The movement, however, has also been critiqued by many arguing that, in fact, the participants are not as diverse as they present themselves to be. Whatever the make-up of the crowd it is important to point out their incredible ability to self-organize, while noting that the city governments have been nothing but respectful towards the freedom of speech and self-expression.

Since the Movement is addressing today's economic challenges it is only natural to be curious as to the costs involved with such a wide spanning, long lasting event. So, Savvy Student has done some research and come across the following information...

Occupy Wallstreet has became a tourist attraction and has inspired more than $500,000 in donations!

By Oct. 11th the New York Police Department already spent $1.9 million, mostly in overtime pay, to patrol the area near Zuccotti Park, where hundreds of protesters were camping out for several weeks.

By Oct. 27th in New York City, overtime costs were $3.4 million. In Minneapolis, the sheriff’s department reported spending $200,000. And in Boston, the tally was $2 million.

By Nov. 13th The New York Post reported on the effects that the Occupy Movement had on many small businesses in the Zuccotti Park area. They have lost approximately $500, 000 in profits since the protestors took over the park making it unapproachable for the use of others.

By this time Public Safety chair Councilman Peter Vallone reported the total costs of NYPD have risen to $5 million.

At the same time, in a city like New York protests and demonstrations are not a novelty."By comparison, it cost about $50 million for one week to secure the Republican National Convention in 2004." Roughly $5 million spent on the Occupy does not seem to be a big sum in the context of $66 billion annual budget of the City.

Not everyone, however, shares the city officials' respect and commitment to the freedom of speech. Some Occupy participants have reported losing their jobs, because their employers did not approve of their involvement with the protests. It is perhaps an extreme example, yet, it makes one reflect on the ways and means of expressing opinions. The Brandeis community has a reputation of being highly involved with activist demonstrations, but do we often evaluate the financial costs of such?

~Savvy Student


References:

http://www.quora.com/How-much-does-Occupy-Wall-Street-cost-New-York-City-each-day/answer/Avi-Atkin

http://www.digtriad.com/news/local/article/198990/57/The-Cost-To-Occupy-Winston-Salem

http://www.theblaze.com/stories/occupy-wall-street-costs-local-nyc-businesses-close-to-500k/

http://www.gobankingrates.com/banking/is-the-cost-of-occupy-wall-street-worth-it/

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Black Friday: A day of dazzling deals or a day of devious deception?

Black Friday: The day when the daring shoppers of America venture out of their homes at three in the morning to fight off their fellow (wo)man for unbelievable savings. The day that kicks off the retailer's holiday season, providing approximately 20% of annual sales.

However, it seems that these coveted deals may not be as miraculous as advertisers lead us to believe. That beautiful new Samsung TV that you buy for half of the original price may be half of the quality as well. The products are being referred to as "derivative" products and there are a few substantial differences between these products and the original products. In fact, in a 2009 investigation, Consumer Reports highlighted derivative electronics and "found that these products are generally manufactured more cheaply, sometimes with less-expensive components, and that they are generally missing a few features present on the standard models" (Time.com).

If you're worried about purchasing a derivative product, be sure to check the model number. If the product is a derivative, the model number will be slightly different from the model number listed for the original product.

Some other Black Friday deals are questionable as well:

• Beware of store credit cards! Although many stores will dazzle you with extra savings if you sign up for their credit cards, this discount could be taking points off from your credit score, which could be detrimental to you if you plan on applying for a loan in the near future.

• Some of the deals that retailers such as Staples or Best Buy boast about are equal to deals that can be found frequently online.


• Some stores require that you mail in a rebate in order to actually get the deal.
  

For more information on Black Friday, check out this article from Time.com.


Hopefully these tips will help you have a successful, derivative-free Black Friday!

Happy holidays!

Savvy Student

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