Miss mom/dad/Fido? Do not go home! I repeat: DO NOT GO HOME!

Got questions? Hit me up in the comments or shoot me an email at melanie@collegecandy.com

I hear college is the perfect time to get a credit card. Should I trade in my debit for credit?
NO. Okay, so maybe the prospect of a limitless spending spree “for emergencies only” is a good idea in theory, but it really isn’t that great. You gotta pay that shiz off sometime, and that “sometime” comes with a giant interest fee.

Hold onto your debit card so you can only spend what you got. If you decide the perks of a credit card (airline miles! woooo!) are too good to pass up, make sure you get the lowest limit card possible and PAY IT OFF every month. Don’t do any of that minimum BS – that will only get you in big-time trouble down the road. Are those new Citizens/front row tickets to another DMB show really worth ruining your credit score? I think not.

I’m homesick. What do I do?
I can’t tell you what to do, but I can tell you what not to do. And that is go home every weekend. DO NOT DO IT. This will only make you miss home more and won’t help you get adjusted to your new lifestyle at all. Keep in touch with your family and friends from back home, but try and branch out of your comfort zone. You went away to school for a reason – to become independent and to experience college life. Try and push yourself to stay on campus for a few weekends in a row and give mom and dad a call every couple days. To tell them how much fun you’re having. Cuz you will be. Read More »

Ahh summer time. The heat is blistering, the Natty Lite is chilled and the pool beckons. For those of us not taking summer classes, these three months are a glorious break from homework, studying and fluorescent lighting. Yes, the whole summer yawns out blue skies and cut-offs until late August and it’s hard to imagine ever going back to school.

Except, I do imagine it. I catch myself worrying about non-existent assignments and responsibilities that won’t resume until September. But even more, I constantly find myself spacing out at work, reminiscing about all the good stuff that comes along with college. Mostly the whole not-bored-at-work-9-to-5 thing.

And I miss it!

Meal Plans: While I’m lucky enough not to be taking classes this summer, I do have to work — which means I’m stuck in a college town all summer long without the benefit of visiting home, and therefore the benefit of home cookin’. My freshman year, I ate dining hall food. My sophomore year, my sorority dues included a meal plan. This summer, with my sorority house closed and the dining halls freshmen-infested, I’m armed only with my apartment’s kitchen and whatever the hell I find when I Google “easy, cheap, healthy recipes” and pudding. Do I enjoy learning to cook? Absolutely. Would I prefer a cook to prepare my meals? Uh, hell yes. Plus, there’s no clean up if you’re not the one using all the dishes… Read More »

You ever see those Visa Check Card commercials where they show a fantastic shopping plaza where everyone is happily swiping away *swipe swipe swipe* until that jerk comes along, coin pouch in hand, and holds up the whole line?

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). Read More »

It’s your BFF. You’ve known her since you were five. And yeah, you just spent a whole paycheck on housing, but you still need her to hang out. But still, you’re both broke, college students. So who’s taking the brunt, financially? If you feel like you are controlling your spending, but still can’t figure out where your cash is going… I hate to say it, but it might be your friends. Read More »

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. Read More »

Designer duds – for fashionistas around the world, they are a must-have. But with the economy in the crapper and most of us on a college student or recent graduate budget, finding the cash flow for those lovely labels is a lot harder than drooling over them. However, it is possible to find designer apparel and accessories at very discounted prices without having to elbow some other fashionista in the aisle at TJ Maxx, Loehmann’s or Filene’s Basement.

Just hit the internet.

While the prices are oftentimes still much higher than those pieces you love grabbing at Target, Old Navy, Forever 21 or H&M, many of these items are much higher in quality and can be wardrobe staples for many years to come.

I am personally obsessed with designer denim, shoes and handbags. I don’t have the salary to allow me to buy whatever I want at their normal price and I don’t own a credit card (for good reason – it would’ve been maxed out ages ago), so I have to look for deals. Enter my saviors for retail therapy on a budget:

Overstock.com: This site is a gem! You may not always find exactly what you want, but you can find some great stuff here at even better prices. I got my bf 2 sweaters and a button down shirt that were each originally $75/piece, for $15 each! You can also find great home goods here for awesomely affordable prices.

Bluefly: While things here are oftentimes still pretty pricey, they do give a good percentage off, and I check here often because when they have sales, you can find phenomenal deals. Read More »

You know how we’re all poor college kids, yet we have so many “needs” that continue to rack up our credit card bills?  One of the best ways to start saving money is to simply re-evaluate your budget.  I know people who use budgeting software and balance their checkbooks religiously, but I am not one of those people.

First of all, it’s nearly impossible for me to predict how much income I’ll rake in in a given week.  Second, there’s no way I can simply skip my monthly Metrocard (or other necessity) because I miscalculated.  So I charge it.  And then I charge five energy drinks because the grocer only accepts credit for purchases of $10 or more.  But the reality is, if I quit energy drinks (over $2 a pop), I would save hundreds of dollars a year.  What are you wasting your money on?

1.  The Bar

In New York City, you’re going to pay at least $10 for a Long Island Iced Tea.  For $10, you can buy a jug of Carlo Rossi or an 18-pack of Natty Ice, and you can nix the tip.  Even at cheap college bars, you’re bound to pay a cover charge to enjoy Nickel Nite, and even though you’re basically drinking for free, you have to tip on every round.  Instead of having a big bar night this week, have a liquor potluck, and invite all of your friends to come over with that random bottle that’s been collecting dust for months.  You’ll get drunk without spending a dime, and won’t have to wait 20 minutes for an overwhelmed bartender to take your order.

Read More »

I’m sure we’ve all felt the effects of the current economic crisis; I know I have. Between my commute to work, the standard bills, and the want to have a normal life, my bank account is rarely flourishing with funds. More like, depleting drastically. People are losing jobs, industries are crumbling, and, lord knows, if you have any money in stock – well, let’s hope you have something extra stashed away beneath your mattress.

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. Read More »

[College kids are notorious for being poor. And why shouldn’t we be? We take out student loans to pay for private universities, can barely balance a part-time job with our full-time courseload, and the only “balance” we’re familiar with refers to the number of points left on our dining hall cards. Oh, did I mention many of us tend to splurge every extra penny on PBR’s at the campus bar?

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? Read More »

If the last time you opened up your checkbook to track your expenses was around the same time you snuggled up with your parents to watch a Disney VHS… well, then, maybe you need a little help.

Balancing a budget is the kind of thing that everyone hates, but we all know it’s necessary. Especially now. While the economy crumbles around us. And our money disappears.

Unless you are truly loaded and/or naturally meticulous, you could probably use a few tips to help you get your stash of cash in order. So read on:

1. Save your receipts.

That’s right… all of them. This might sound unnecessary, but it’s really important. If your bank statement comes and you find something on it that isn’t right, you’ll need those receipts to prove your point and get your money back. After your statement comes, you probably won’t need the receipts anymore, so you can get rid of them then.

2. Write stuff down in your checkbook.

Every time you make a purchase with a check or your debit card, write it down! That means you’ll have to keep your checkbook with you almost all the time, which can be annoying, but it’s worth it. (Not only does this protect you later, but it also forces you to pay attention to your spending!) Keep a separate list of your credit purchases. Write down the date of each expense and its exact amount. Then…

3. Go over your bank and credit statements.

As soon as you get those statements, bust out the checkbook and your credit list and compare each transaction, cent for cent. If there are any discrepancies, consult your pile of receipts (which you could neatly store in a box by date… but OK, that’s not entirely necessary). Talk to your bank or credit company about incorrect charges. Finally… Read More »