Yeah, that jerk is usually me.

I’ve always been a cash girl – it’s efficient, it’s solid, and it’s hard to let go of. I just think credit cards make it too easy (“That’ll be $563.94” *swipe* “Thank you have a nice day!”) and that’s entirely my point. You can swipe away bucket-loads of money without realizing it. Credit cards make it so simple, it’s like you can get whatever you want and you’re not even spending real money.

However, when it comes down to forking over a twenty dollar bill to some Starbucks chick for a cup of coffee, I’m much more hesitant to get the overpriced (albeit ridiculously addictive) Venti Caramel Frap. With cash, it’s either you have it or you don’t. With credit, you always have it (or so you think).

I’ve seen many a times when my girlfriends get a little swipe happy and come home with shopping bags full of things they can’t really afford because “they can always pay it back later.” And I’m not too psyched about debit cards either – $32 overdraft fees because I went a dollar over my limit? Yeah okay.

I must admit that the only thing keeping me from shelling out hundreds at a time on online shopping is my serious lack of plastic. But I have reached a point in my life where it is almost impossible to go without a credit card and an embarrassment not to have a bank account. I’m all for hiding money in the mattress (uh… I mean not hiding it in my mattress- great, now the thieves will know where to look) but it simply isn’t practical anymore. I get it, I need to start building my credit. No bank = no credit = no interest = no security. So yes, I have resorted to getting myself some plastic.

But honestly, I’m worried about swiping myself to debt (ha!). Any advice? Anyone in the same boat?
Paper or plastic?

It’s easy to throw down your MasterCard and forget about how much your text books cost for the semester; it’s just as simple to open a tab at Happy Hour and let the Bud Light flow.  We all eventually realize, however, that college flies by in the blink of an eye, and before you know it, you’ll be on your own.

With the economy in peril, now is an especially good time to start keeping an eye on your credit score so you don’t find yourself denied when you try to open new bank accounts, get a new apartment, condo, or house, or reward yourself for landing your dream job by buying your first brand new car.  Maintaining a good credit score doesn’t have to be harder than next Tuesday’s cumulative Calc exam, though– here are five simple steps to stay on top of your financial game.

1.  Get a credit card.

This might seem like a no-brainer, but I know a lot of people who are adamantly opposed to credit cards.  How they live without them, I don’t know. Personally, I am always prepared to whip one out in case of an emergency (like when my gas tank is below empty and I try my luck at the commuter lot at school).  Hey, if you can get by without a credit card, you win my admiration, but you can’t build credit if you never have any to begin with.  Get a credit card, and charge a couple small things each month- paying your bill in its entirety will show how well you handle your money.

2.  Put your name on the bills.

It’s a luxury to have parents who help you out in college.  However, if the ‘rents pay your cell phone bill, sign for your campus housing, or let you drive their car around for four years of higher education, you won’t have very strong credit references when it’s time to get out on your own.  Many apartment complexes want to see that you’ve been a good, rent-paying tenant in the past, for example.  If you only have your parents’ credit to go by, they might have to co-sign for you as gauranteurs, which still doesn’t necessarily prove how responsible you are when it comes to managing bills and paying off debts.  Even if you start small, like keeping a cell phone plan in your name, you’ll be off to a good start.

3.  Pay what you can..and pay on time.

Not paying your CC bill will result in a hefty fine, as will paying your rent or other bills by the due date.  If you find yourself struggling at the end of the month, prioritize your debts.  Pay the car payment in its entirety, and send American Express the $20 minimum payment.  Don’t squeak by with small payments every month, though – as far as credit cards go, your score is measured in a ratio of debt vs. available funds.  Paying the min will result in a finance charge, which could make your balance stagnant (providing you aren’t spending more each month).  So if your credit card limit is $5,000, and your balance has been a steady $4,500 for the past few months, your score will take a hit.

4.  Keep old accounts open.

Remember the time you signed up for a card because you wanted a free T-shirt, and then realized you didn’t need a third credit card? Keeping that account open will actually look good on your credit report.  If you don’t have to pay a fee to keep it, it won’t hurt anyway.  However, if you continually max out your cards, transfer your funds to a new card, and close the first account, your spending will look sporadic and unorganized.  Really, you can avoid this altogether by finding one or two really good credit card deals that you can use for years, but if you’ve paid off your debts on one card and really want the Delta Skymiles Platinum so you can earn enough rewards to fly to Hawaii this summer, there’s no reason to reach for the scissors just yet.

5. Keep an eye on your credit score.

This way, there won’t be any surprises.  If you see your score start to slip, you’ll be aware and can re-anaylze your spending and try to get those numbers back into good standing.  You’ll also be able to monitor your activity and prevent fraud, identity theft, or unwarranted charges.  Check out FreeCreditReport.com or speak to a financial expert to figure out where you stand right now.

Getting into these simple habits won’t just help you establish a good credit report while you’re still young, but you’ll start to develop healthier spending habits to keep your credit shining as you begin your real adult life of mortgages, car payments, and starting a family. Really, these things should come naturally, but are overlooked by millions of people, young and old, across the country.

And hey, it’s quicker than checking a Facebook minifeed, so what are you waiting for? Fill out your first credit card application, check your payment due dates, and try to get an idea of where you stand in the realm of debt and credit.

If you disagree with everything I just said, you probably don’t need this column. But if you’re nodding along because you’re officially an adult and still don’t know how to manage your money, then you might want to pay attention every week, because I’m going to (try to) get you through this, and make you a successful saver and a wise spender.]

With the economy so crappy these days, banks are jumping over each other to get to you. With deals like Rewards Checking, it’s hard not to be lured in. I mean, a percentage of cash back just for spending? It sounds too good to be true.

Because it probably is.

I’ve been bouncing between hoarding my money in a checking account or a savings account for some time. Do I want the interest, or the rewards? Chances are, you’ve had similar decisions to make. But what about these CD things that banks advertise? What are these all about?

Personally, I always assumed that CDs were for old people. You know, people with careers and mortgage payments. Until a friend opened a CD that became her “European Vacation” fund.

A CD is basically a Savings Account… except you can’t make withdrawals whenever you feel like it. Opening a CD requires a timestamp, usually lasting six months, one year, or five years or longer. The longer you put your money “on hold,” so to speak, the greater your interest rate, which means the more moolah you’ll accumlate by NOT spending.

Yeah, right. Like college kids have enough money to just hide away for six months. While CDs generally are geared towards people who have solid careers and are infancially stable– Jumbo CDs require a minimum of a whopping $100,000 deposit– more and more variations of CDs are popping up across the country.

My friend has what is called an “Add-To” CD. Each week, when her paycheck is direct-deposited into her account, a small percentage is put into her CD. Sometimes, she even forgets that something is being deducted from her pay, because she still gets some money every pay period. However, since she can’t access her money for six months, it will continue to accumulate. When she’s ready to cash in and take her European vacation, BAM! All that money will be hers for the taking.

If you have even a little bit to spare- some birthday money, a random bonus at work, the cash you got from textbook buy-back– it might be worth looking into whether your bank offers small CDs. You can hide it away for six months, and once summer hits, you’ll have this money that you may have forgotten about! Use it on a bathing suit shopping spree or a mini-vacation…or renew your CD and wait for a rainy day in another six months or so!

All that being said, life must go on, right?

So, how do we tighten the belt without living like a hermit? Here are some tips:

Budget: Set your spending limits on a weekly basis. And stick. to. it. Review your receipts at night to make sure you are staying on track, and be honest about what you are spending. This will keep your bank account in the green.

Save on Gas: Carpool with your friends or co-workers. If you need to do some errands, combine them all into one day, and make a route that will hit each stop, in one circle…versus going back and forth in all different directions.

If you live in a city, eliminate your cab usage. I know it is so much easier to hail a cab on those late, drunken evenings, but if you take some public transportation you’ll spend $2.00 versus $15. Or, trying hoofing it; you will burn those drinks away and have some extra wiggle room for a late night snack.

Make your own coffee: Think about it – while we all love those Starbucks Vanilla Lattes, at $4 a pop, that’s $20 a week (for your Mon – Fri coffee kick), $80 a month, and roughly $1,000 a year. I know it may not seem like a lot, but it adds up. Bonus: when you make it yourself, you know you will get it exactly how you want it.

Bring your lunch: Go grocery shopping (which will save you money on a day to day basis) and stock up on lunchmeats, salad fixins’ and yummy snacks. You never realize how quickly those $7 lunches add up and how easy it is to save by brown baggin’ it.

Stop shopping: I am at fault for this myself, especially at the start of a new season and new trends, but instead of spending money on things you can’t really afford, reinvent your old clothes by changing up the accessories or gettin’ a little Project Runway on your wardrobe. Or, try swapping with some of your friends. If you really can’t hold back – shop thrift. The clothes are cheap, cute and vintage; all majorly hot trends this season.

Stop the giving: I’m not saying to stop being a good person, but for the upcoming holidays, decide to do something nice with friends and family, instead of spending money on clothes, electronics and other wants. After all, gifting isn’t what the holidays are really about; spending QT with people is.

Make a Spending Limit: Even though I’m telling you to budget, I’m not telling you to give up all of life’s luxuries: i.e., nights out with your friends. However, what I will say is to leave your credit cards at home (yes ladies, no more drunken “drinks on me!” $50 charges the next morning). Protect yourself and your moolah by bringing a cash limit (be it $20, $40, or whatever you can spend) and bring ONLY that. If you run out of money, simply find someone else to but you some drinks.

Save: Even if it’s $10 a paycheck, open a basic savings plan and throw in extra cash (even spare change) whenever you can. Save it for a rainy day or whatever else you need…like Christmas shopping…

(Photo courtesy of squidoo.com)

If you disagree with everything I just said, you probably don’t need this column. But if you’re nodding along because you’re officially an adult and still don’t know how to manage your money, then you might want to pay attention every week, because I’m going to (try to) get you through this, and make you a successful saver and a wise spender.]

Last week, I discussed the pros and cons of both credit and debit cards. One risk I run when using my credit card is letting my spending get a little out of control. When you rack up a hefty credit card bill, you essentially lose money, because with every month that goes by that you haven’t managed to clear the balance, the more fees get tacked on to your current statement.

As college students, large bills can easily get out of control, and I know I have often felt like I was drowning in bill payments. After all, most of us can’t work full-time or even well-paying jobs, and if we have a huge exam or a paper on the horizon, we may force ourselves to cut back our hours, and likewise, our weekly income.

If you have hundreds (or even– eek! thousands) of dollars in credit card bills looming over your head, sometimes a credit card balance transfer (to a zero interest card) is just what the doctor ordered. But is it worth it, and should you do it?

To transfer your credit card balance, all you need is a new card. This can be helpful, because there are tons of cards out there that offer no interest for the first six months. Whatsmore, there are options available for credit cards that don’t even charge for a balance transfer! Sounds like Christmas came early!

When I was in trouble with my Chase credit card balance, I applied for an interest-free (to start) Capital One Rewards card. Once that card got approved, I was ready to transfer my balance. I simply entered the information from my first card (my account number and the Chase business office address), and let Capital One do the rest. It took about a week, but my entire Chase balance was transferred to my Capital One card. Think of it as using a credit card to pay for another.

Almost every credit card company offers balance transfers. Why? Because if you spend with them, they are more likely to get more of your money. And if you are so financially distraught that you need a credit card to bail you out yet again, there’s a chance that sooner or later you do end up paying interest again, but a different company is collecting.

The good news? You can usually transfer other outstanding balances, including STUDENT LOANS, to your new credit card.

The bad news? You have to be careful. Make sure there is no charge to transfer your balance, so you’re not surprised if a fee shows up on your latest statement. You also have to check your old credit card statement, because you are still expected to make your minimum payments until the balance transfer has completely cleared. That is, don’t get slapped with a hidden late charge because you don’t think you have to worry about the first card anymore.

Most importantly, don’t make balance transfer a habit! If you keep playing hopscotch and bouncing from one card to the next, you’re going to put yourself in even more debt, and possibly hurt your credit rating. Choose a time that’s good for you to transfer the balance (e.g. the beginning of a school vacation, when you know you’re going to work your ass off when you’re not in class and actually save some money for once), and vow to pay off the balance before the new card starts charging you interest.

Need more info on balance transfers? These sites can help:

BankRate.com’s 5 Balance Transfer Trip-Ups

BankRate.com’s Tips to Find a Good Balance Transfer Deal

CreditCard.com’s Search for Balance Transfer Options That are Best for You

What is a Credit Card Balance Transfer? On WiseGeek.com

The stock market is low. Really effing low. The lowest it’s been in a long ass time.

And people are freaking out.

So, in an effort to ease people’s minds, George Bush spoke. He interrupted my morning dose of Ellen Degeneres for about 7 minutes to explain what is going on and how the US Government is going to fix it. But that 7 minutes can be summed up in 2 simple sentences:

Things are bad – we caused the economy to decline worldwide – but they are going to get better. Just chill the eff out.

So, let’s relax, people. Forget about your money in the bank, your student loans, and the fact that you can’t afford your Easy Mac. Grab a bottle of your favorite (cheap) vodka, kick back on your couch and chillax.

Everything is gonna be ok!

• London will be thinking of nothing but sex for months! (The Guardian)

• According to the last link, this title is totally deserved. (The Sun)

• This is the best practical joke ever. Also, Springfield cops are really understanding. (rrstar.com)

• This little kid means business! (seattlepi.com)

• A list of gay superheroes…in Harper’s Magazine? Weird. (Harper’s)

If you live in Thailand and feel a little embarrassed about buying condoms, just take out a home loan.

Kasikorn Bank recently launched a “condoms for confidence” campaign at around 60 branches in Thailand, hoping free prophylactics will help raise awareness of HIV/AIDS in the “generally conservative” country.

An unidentified bank spokesman explained the thinking behind “condoms for confidence” was the revival of a government awareness campaign that has “fizzled out”, leaving many Thai teenagers in the dark about sexual awareness.

Even though reported cases of HIV have dropped drastically in Thailand since the early 90′s, the health ministry is worried that a lack of education and a general embarrassment over buying condoms has increased the number of teenage patients.

“A Health Ministry-commissioned survey last year showed 48 percent of 5,712 male high school students used condoms” and “about 43 percent of 7,712 female high school students said their sex partners used condoms.”

It’s admirable that a bank has decided to teach its country’s youth about Sex Ed, but if we’re worried about embarrassment factors here, reaching into a bowl and grabbing a few condoms while your checks are being cashed isn’t the most covert thing a person can do.

I can’t even take those Hershey’s Kisses they leave out without feeling weird.

While I do think it is a teeny-weeny-bit ridiculous that you are coming out in full autumn getup, you are, nonetheless, so freakin adorable.

Seeing your quilted leather handles or fur trimmed collar makes me want to pack away my mini-dresses and tanks and pray for a snow day.

But then I see your price tag and am forced back into reality — I can barely afford the final clearance summer rack let alone a new Marc Jacobs fall coat (which is really a shame because what a cute coat you are!).

However, there is hope my fellow penny-pinching college students of mine.

Thanks to Real Simple magazine, I have a few tips that will help you save up for that rainy day shopping spree.

• Buy Gas On Tuesdays: gas prices go up on weekends often because they want to take advantage of errand runners and weekend travelers.

• Dry Clean Expensive Items Off Season: Now is the time to clean your puffy jacket of cashmere wrap. Cleaners often run sales during the slow months (July, August and January).

• Don’t Use Directory Assistance: this is one hidden cost many of us don’t think about. Thanks to yellowpages.com and 1-800-FREE-411 (from your cell) you can access numbers, movie times, directions etc for free.

• Join The Gym At The End Of The Month: Many health clubs cut back the price at the end of the month to meet their monthly quota. And now you have an excuse to skip out on the gym for the next week or two!

• Use The Grocery Store Discount Card: the supermarket is a great place to buy more than just food (think toiletries, pet supplies, birthday cards etc) and with your discount card you can save about 18% off your monthly bill.

• Stock Up On Seasonal Items After A Holiday: My roommate loves Peeps (those sugary marshmallow things they sell around Easter) but she always waits until the day after when they cost like 25 cents a pack. Buy your gift cards, wrapping paper etc for next year RIGHT after this year’s holiday to save mucho dinero.

• Buy A New Car In The Fall: If by chance you are looking to buy a car, new models are released in September- meaning last year’s models get big discounts!

• Make Coffee At Home: So, while I am having a hard time practicing what I preach here, buying a coffee maker and taking your java to go can save you about $80-$100 dollars a month. Make Starbucks a treat instead of a daily routine (your jeans will thank you too).

While these tips may seem small and insignificant… a penny saved is a penny towards that new fall wardrobe, that spring break vacation, or that new digital camera you’ve been eyeing.

My favorite gag was calling up girls from our class and pretending to be the Spice Girls. We’d put on our awful English accents and pretend that our weekly victim had won the chance to have a sleepover with the Spice Girls. Cruel, I know.

Worse, though, is the fact that our gimmick worked. Week after week, gullible girl after gullible girl believed that we were the Spice Girls.

Then… circa 1997, there was an influx in the sales of a certain device: the caller id.

And the unfortunate prevalence of caller ids made our Friday afternoon delights implausible. After a few “I know it’s you, Sarah! The Spice Girls don’t have a 7-1-8 area code!”s, fun Fridays came to an end.

But today, the caller id has lost its power. Rather than an influx in caller id sales, there has been a current influx in caller id spoofing websites.

Caller id spoofing? It’s every prank caller’s godsend, and just about everybody else’s worst enemy.

These websites allow you to manipulate the name and number that appears on the caller id of the person you’re calling.

It’s quite simple. You go to one of the many websites which offer this service (some are free, others require a subscription and fee), type in the information you’d like to appear on your victim’s caller id and then call said victim through the website’s service.

Seriously, my adolescence would’ve been much easier if these websites had been around. That time I wanted to sleep over a boy’s house, I could’ve called my dad from “my friend’s house” to say I was sleeping there. Or when I wanted to tell my crush that his slut of a girlfriend was cheating on him, I could’ve called pretending to be the other guy (yea, some of these sites even have voice changers).

Ugh, I could’ve wrecked havoc.

But that’s the problem with these services: while I would’ve used caller id spoofing to ruin a few teenage lives, these sites can’t distinguish between catty pranks and outright schemes.

Con-artists are using these sites to steal identities. By calling from “banks” and “credit card companies,” thieves can trick people into giving away sensitive information needed for identity theft.

And, kiddies, identity theft is not cool. Someone once ordered $500 worth of flowers to be delivered to Russia on my credit card. It kind of sucked.

That being said, these websites—when used for harmless (or not) prank calls—are pretty cool. And, you know the Spice Girls are supposed to be having a reunion. I’m feeling a prank call comeback…