This blog has moved to http://www.studentoffinance.com.

Things are looking up!

First of all, my new Dell laptop arrived today! Woo hoo, now I get to waste the rest of the week setting it up and playing with it. Also, my quarterly shares of Starbucks has been deposited into my account. Along with my debt payments (which still haven't posted), my net worth is now about +$500. I know thats not a lot, but its the first time in a while, if ever, that I have had a positive net worth. I am almost done paying off my old balance transfer card, probably by the end of this month. Then I will only have my current balance transfer card $5,000 and the credit card that I use for misc. expenses. AND, I got a raise at work! I don't know how much it is yet, it might only be a few cents but hey, every little bit helps.

Right now I'm pretty pleased with most things. I will have a large credit balance to pay on my card this month since I charged my laptop. But after this month, I should be able to keep up with it and pay it off every month. Actually, there is no maybe about that. I'm really gonna have to focus on not charging silly stuff to my card unless I can transfer the money right over to pay it off. These next few months will be critical to how much money I have saved and paid off by January.

While reading my daily blogs, I came across an interesting article by Cap at Stopbuyingcrap.com about credit cards. It brought up an interesting point about credit card usage...are credit card companies really to blame for your debt? Of course the answer is no, but after reading his post, it reminded me of why I'm still even paying on a two-year old debt. The reason? I haven't cut up all my credit cards and continue to spend money on stupid stuff.

I even resorted to giving my credit card to my boyfriend to help control spending and when I took it back I proceeded to run up a $4,000 credit balance! Can you believe that? I harp on people so much to start saving, blah blah blah, but if you are still spending money (like me, ahhhhhhh!) then you are going backwards. Now that I realize I have $5,000 in credit card debt just for the purchases I made this year, it makes me sick to my stomach. I realize now that even though I am in major debt-payment mode and I-have-to-start-saving-for-retirment mode, I am still in full I-like-to-spend-money mode!!!! Even though it was over the span of several months and included some unexpected medical bills, there is still no reason for it. Seriously, I guess when I return to school I will have to leave my credit cards behind. If they are there, I will use them.

Ok, back to financial sanity...I just ordered my new laptop (three months early by the way) and after I SAVE the money to buy an external hard drive, I am going to purchase a copy of Money 2007. This way I can control my spending and saving down to every cent! I've also thought about getting Quicken, because I work with Quickbooks at work and really like it. I just haven't done my research yet.

"Sigh"...When will I ever be in control??

My Advice for College Students...

As a student returning to college, I will be much more conscious of my budget during school and more aware of the choices that I make. During my time away from school, I have come to realize the importance of retirement planning and consistently NOT using credit cards except in emergencies. Obviously I plan to have a part-time job during school, I don't see how anyone manages without one. My advice will pertain to those that work part-time but also take out student loans to finance the majority of their education.

1. Never buy new books!
Wow, I wish I had known this the first time around! Even though I usually got used books, I always went to the college bookstore to get them. Now I have discovered the multitude of textbooks websites that offer much cheaper prices than any bookstore. My method of finding the best price is to simply do a search for "college textbooks", or some variation of that, on Google. I just open about 10-15 websites on the first page and enter the ISBN, which is the most accurate way to find a book. I simply look at each page and buy the one that is the cheapest. My best deal so far is a used Algebra book for $10, including shipping!

2. Get a Roommate!
I have a difficult time with this one because my first experiences have been so negative. However, housing is the largest major expense, sometimes even more than tuition. If you can stand to live with someone else, this is definitely a big money saver.

3. Walk or ride a bike.
If you live close enough to campus (or even on campus) try to walk or ride a bike to class. Not only will this save money on gas and vehicle maintenance, you will get plenty of exercise. Although trying to save gas is always important, your safety is always way more important. Only walk or ride your bike in a safe area and only during the daytime.

4. Keep down your frivilous expenses.
Simple, no cable, no DVD service, minimum cell service and this is a hard one...limit your alcohol consumption!

5. Save, Save, Save!
If the world were a perfect place, every college student would have a Roth IRA that they contribute the max to annually. However, in the real world this is difficult for some even on full time incomes. The point is, save whatever you can! Maybe $50 to your IRA and $50 to an emergency fund. Anything helps and even a small amount could keep you from getting buried in credit card debt.

These are just some things I thought of that are easy to spot. However, I know I missed many, many other tips. Does anyone else have any tips for the broke college student?

I was up late last night waiting for my favorite TV show to come on. It turns out the schedule has changed and its not longer on, so I was just flipping through channels to see if there was anything interesting. I came across one of those "Miracle Pastors", the ones that touch people and they fall over or jump out of the wheelchair. I NEVER watch these, or spend more than a millisecond listening to them. But just when I was about to change the channel I saw this advertisement for miracle spring water. The preacher was passionately explaining how just a little tube of "blessed" water would heal injuries and stop pain and suffering.

Are you serious???? Do people actually think he was being serious? To me this was such a scam, I couldn't believe it was even on TV. It makes me think that the only people who buy it are little old grannies that are sitting at home with nothing better to do, but certainly don't have money to spend on phony miracle water. I know there is nothing to be done about this, but I just felt really angry that someone would take advantage of people like that.

Below $7,000!

My credit card payment of $750 finally posted today. My debt is now $6,908.77. Also, my savings is now $6,338.20. That means that by next month I will actually have a positive net worth. I'm a little disappointed that I wasn't able to pay off everything by December, but the debt that I have remaining is on a 0% balance transfer. I have until next September to pay it off and if I don't I'm hoping my other credit card will be offering a good balance transfer deal.

One major expense I had this week was buying a round of medicine for my elderly, arthritic Lab, Maggie. I spent over $300 on a six-month supply of medicine. This was a difficult decision for me because I have such a great need to pay off everything as soon as possible. I feel like this is an expense that I seriously cannot afford but the alternative was to put her to sleep. This was a heartbreaking solution, and one that I just could not do. I have had her for over nine years and feel it is my responsibility to take care of her as long as possible. However, I now see how much of a drain on your budget pets can be. I don't plan on getting another pet in a long, long time, if ever. I also have two cats that are only two years old, so I will have them for a while also. I love my pets dearly, but I didn't realize what a constant drain on your budget they can be!

In response to Dawn at Frugal for Life , here are 25 Ways I Save Money!

1. Eat the cheapest sandwich at Subway for lunch (only $2.70!).
2. Search for the best deal on pet meds online.
3. Using uPromise to get rebates for gas! (Money will eventually go to student loans)
4. Treating my retirement/savings account just like any other bill that is due each month.
5. Waxing and doing my eyebrows at home rather than the salon.
6. Using an online savings account with a high interest rate rather than the one at my bank.
7. Only cut my hair once or twice a year.
8. Buying textbooks online, used.
9. Go to the Drive-In movie theater (2 movies for $5), rather than pay $8.50 for a movie at the theater!!
10. Trying new recipes at home, rather than eating out all the time.
11. Playing board/card games at home rather than going out to have fun.
12. I try to stay away from Old Navy as much as possible.
13. When my coin purse gets full, I put it in a jar.
14. Using Vicks VaporRub to get rid of toenail fungus rather than the $25 bottle of nail polish from the doctor.
15. Searching for home remedies and tips as much as possible, within reason.
16. Paying off debt as fast as possible and trying to keep it on a low interest rate balance transfer.
17. Sharing a cell phone plan with the lowest amount of minutes.
18. Moved back home with the parents to save on rent (probably my biggest money saver).
19. Keeping my deductibles high on my auto insurance to save on the premium.
20. Taking advantage of discounted company stock.
21. Having a second job at Starbucks, so many benefits I can't even count!
22. Teaching my cats to use the toilet, rather than a litter box. (I haven't actually done this, but plan to as soon as I have my own apartment.)
23. Paying all my bills online, automatically. No stamps, no late fees.
24. Trying not to eat at fast food resturants.
25. Splitting a meal with someone when eating out together.

This is a post from a friend on my myspace account. Its not necessarily finance-related, but I find some of the tips useful and interesting. Just thought I'd share. It amazes me all the uses people find for this stuff.

GREAT THINGS TO KNOW
1. Budweiser beer conditions the hair
2. Pam cooking spray will dry finger nail polish
3. Cool whip will condition your hair in 15 minutes
4. Mayonnaise will KILL LICE, it will also condition your hair
5. Elmer's Glue - paint on your face, allow it to dry, peel off
and see the dead skin and blackheads if any
6. Shiny Hair - use brewed Lipton Tea
7. Sunburn - empty a large jar of Nestea into your bath water
8. Minor burn - Colgate or Crest toothpaste
9 Burn your tongue? Put sugar on it!
10. Arthritis? WD-40 Spray and rub in, kill insect! stings too!
11 Bee stings - meat tenderizer
12. Chigger bite - Preparation H
13. Puffy eyes - Preparation H
14. Paper cut - crazy glue or chap stick (glue is used instead of
sutures at most hospitals)
15. Stinky feet - Jell-O!
16. Athletes feet - cornstarch
17. Fungus on toenails or fingernails - Vicks vapor rub
18. Kool aid to clean dishwasher pipes. Just put in the detergent
section and run a cycle, it will also clean a toilet. (Wow,
and we drink this stuff)
19. Kool Aid can be used as a dye in paint also Kool Aid in Dannon
plain yogurt as a finger paint, your kids will love it and it
won't hurt them if they eat it!
20. Peanut butter - will get scratches out of CD's! Wipe off with
a coffee filter paper
21. Sticking bicycle chain - Pam no-stick cooking spray 22. Pam will
also remove paint, and grease from your hands! Keep a can in your
garage for your hubby
23. Peanut butter will remove ink from the face of dolls
24. When the doll clothes are hard to put on, sprinkle with corn
starch and watch them slide on.
25. Heavy dandruff - pour on the vinegar!
26. Body paint - Crisco mixed with food coloring. Heat the Crisco in
the microwave, pour in to an empty film container and mix with the
food color of your choice!
27 Tie Dye T-shirt - mix a solution of Kool Aid in a container, tie
a rubber band around a section of the T-shirt and soak
28. Preserving a newspaper clipping - large bottle of club soda and
cup of milk of magnesia, soak for 20 min. and let dry, will last
for many years!
29. A Slinky will hold toast and CD's!
30. To keep goggles and glasses from fogging, coat with Colgate
toothpaste.
31. Wine stains, pour on the Morton salt and watch it absorb into
the salt.
32. To remove wax - Take a paper towel and iron it over the wax
stain, it will absorb into the towel.
33. Remove labels off glassware etc. rub with Peanut butter!
34. Baked on food - fill container with water, get a Bounce paper
softener and the static from the towel will cause the baked on
food to adhere to it. Soak overnight. Also; you can use 2
Efferdent tablets, soak overnight!
35. Crayon on the wall - Colgate toothpaste and brush it!
36. Dirty grout - Listerine
37. Stains on clothes - Colgate
38. Grass stains - Karo Syrup
39. Grease Stains - Coca Cola, it will also remove grease stains
from the driveway overnight. We know it will take corrosion
from car batteries!
40. Fleas in your carpet? 20 Mule Team Borax- sprinkle and let stand
for 24 hours. Maybe this will work if you get them back again.
41. To keep FRESH FLOWERS longer Add a little Clorox, or 2 Bayer
aspirin, or just use 7-up instead of water.
42. When you go to buy bread in the grocery store, have you ever
wondered which is the freshest, so you "squeeze" for freshness
or softness? Did you know that bread is delivered fresh to the
stores five days a week? Monday, Tuesday, Thursday, Friday and
Saturday. Each day has a different color twist tie. They are:

Monday = Blue,

Tuesday = Green,

Thursday = Red

Friday = White and

Saturday = Yellow.

So if today was Thursday, you would want red twist tie; not white which
is Fridays (almost a week old)! The colors go alphabetically by color
Blue- Green - Red - White - Yellow, Monday through Saturday. Very easy
to remember. I thought this was interesting I looked in the grocery
store and the bread wrappers DO have different twist ties, and even the
ones with the plastic clips have different colors. You learn something
new everyday!

Enjoy fresh bread when you buy bread with the right color on the day you
are shopping.

I have finally finished my defensive driving course. I decided to take it online and was very pleased with the website that I chose, www.defensivedriving.com. I only took it to receive a 10% discount on my auto insurance, which will last three years. The cost of the course ($40) does cut into the savings a bit, but I think in the long run it is worth the cheaper monthly rate.

In other news, it is almost certain that I will have to get an apartment in January instead of living on-campus. I have submitted my housing application, but I am expecting the particular dorm that I want to be full. Also, my parents have indicated that they would rather not keep my cats anymore so I will need to take them with me. My boyfriend has graciously offered to let them stay with him, but I will not do that to my cats or to him. I have already looked up tips for cheaper cat litter and homemade scratching posts. Any good tips I will be sure to pass on.

Bachelor vs Master's Degree...

I have finished mapping out my degree plan and I should be able to finish in August 2009. This is a little longer than I had anticipated, but I don't want to overload myself with classes just to graduate in May. A co-worker (with several advanced degrees) has suggested that I complete the 5-year MS in Finance degree. It would only be 30 hours more than what I am already taking, and the cost does not appear to be much more than for undergraduate courses. The question is, would the extra 10-15k in student loans be worth the advanced degree? Also, I am not sure my career goals require an advanced degree. My only motivation for pursuing a Master's would be greater income, period. This is a problem that I am sure I will have to revisit frequently over the next two years.