1. Fought for children to have access to their parents’ insurance plan until they’re 26.
This is near and very dear to my heart. I hadn’t been to a doctor in years. I made it through college with nothing more severe than a cold and a bruised ego from too many bad decisions. Naturally, 2.5 seconds after graduating, I got hit with a gnarly kidney infection. Pre-Obama, this would have meant that I was SOL because I was no longer a student. Luckily, that is no longer the case. Especially in this rough economic climate where millions and millions of people are unemployed or in jobs that offer no benefits, this is a great law that protects so many of us.

2. Cracked down on aggressive marketing of credit cards to college students.
We all know the danger of credit cards, but the lure of having hundreds (or thousands) of dollars at your immediate disposal can be great…but not if you lack the means to pay the bill every month. Credit card companies used to actively push credit cards onto students, who usually don’t have enough funds to be responsible credit card owners. So it was not uncommon to graduate college with thousands of dollars in credit debt in addition to student loan debt — making it easier for companies to justify raising interest rates (more debt = higher risk). Now anyone under 21 must have a co-signer and/or verification of independent income. Credit card debt can have a harrowing effect on one’s financial status for many, many years  and Obama’s emphasis on protecting college consumers is definitely admirable.

3. Signed “Don’t Ask, Don’t Tell” repeal. 
This is a serious step forward in the gay civil rights movement. Allowing gays to serve openly in our military is an important step in removing the societal stigma that unfortunately still surrounds homosexuality. We still have a lot of work to do until gays are granted all the rights and protections of an American citizen. But, I can’t deny the fact that gays were willing to die for their country while fighting wars for freedom, despite not being able to express their love for their significant others was a serious stain on America’s reputation as the “land of the free.”

4. Made financial aid more accessible
College is getting obscenely expensive, and it’s completely not fair or just for higher education to only be accessible to the children who come from well-off families. Student loan companies were screwing over students by attaching exorbitant fees to loans — and Obama made that illegal. Moreover, he expanded the amount of federal money dedicated to funding Pell Grants, financial assistance granted to lower-income students. Education is absolutely necessary for most people to advance in the current structure of our society, and giving lower-income students the opportunity to create a better life for themselves is definitely laudable.

5. Refused to cut funding for Planned Parenthood.
Planned Parenthood provides absolutely essential health care services for lower-income and college women. From pap smears to STD tests to abortion to health education, Planned Parenthood is an important organization. During negotiations to avoid the government shutdown a few months ago, Republicans lobbied to cut funding (abortion, the most controversial service PP provides, cannot be funded by federal money anyway). The sustained attack on women’s reproductive rights by oppressively conservative politicians is scary and unnerving, but I am so glad Mr. Obama is willing to fight on our behalf.

[It's a new year (which I am having trouble remembering when I have to write the date on anything), meaning it's the perfect time to wipe that slate clean and start anew. And we're gonna help you out. Every Thursday in January we're bringing you advice from experts on ways to improve yourself and your life. From mental health to making the most of your workspace, we'll all work together to get our lives, health and GPAs back on track. First we feng shui-ed our rooms to make them happier, more productive places. Then we centered ourselves so we could handle whatever comes our way. Now let's get our finances in order with Fool.com's Dayana Yochim.]

Let’s face it, “the talk” is awkward for everyone: You, picturing your parents at your age; your parents trying to cover all the bases (protection, safety, responsibility and the long-term consequences of your young-adult actions) before letting you leave the nest.

You know we’re talking about the “money talk,” right?

What’s the big deal? Well, unlike the mechanics of procreating (which, if you’re reading this, we can assume your mother and father mastered at least once), there’s a good chance that your parents made a mess of their own finances back in the day. They might even feel like they’re still unqualified to offer sage advice. After all, this stuff isn’t taught in most schools, which leaves most folks learning money lessons the old-fashioned – and very expensive – way: At the school of hard knocks.

I’m here to do your folks a solid and give you six money management tips that will help you avoid graduating with a major financial hangover.

1. Sweat the big stuff.
Here’s something you won’t hear from most money gurus: Go ahead, enjoy your daily latte. If that’s what gives you the will to face each morning, then far be it from me to admonish you to skip it and sock away that $3 daily splurge into a savings account.

The gurus will point out that your small indulgence robs you of a $1,000-plus in savings annually. I’ll point out that denial and deprivation is what leads to spending benders that can put you in the hole for a lot more than a thousand smackaroos.

The trick to having your latte and enjoying it guilt-free is to slash your spending on big-ticket items to free up cash for that coffee (or whatever small treat brings you joy). In other words, sweat the big stuff – find cheaper alternatives or price-cutting strategies for the those double-, triple- and quadruple-digit expenses.

For example, if you brought your car to campus but never drive it, return it to your parents’ driveway and tell your insurer to slash your premiums. That’s hundreds of dollars in savings right there. Rent your textbooks instead of buying them outright. According to Chegg.com, the average student saves $2,000 over the course of their college career by renting books they don’t intend to keep after they graduate.

2. Don’t bother with budgeting.
Sounds like heresy, right? Okay, it was a bit of a bluff. But the truth is that “spending plan” sounds a lot more palatable than “budget,” right? So think of your – ahem – spending plan as a guide to making sure you have enough money at the end of the week to go out dancing (or whatever it is you kids do these days).

Your spending plan can be as high-tech or low-tech as you want:

High-tech: Mint.com is a free tool that links up with your accounts (just to get the balances; it doesn’t allow any transactions to be made) that can keep you up-to-date on your every dollar move.
Low-tech: The envelope budgeting approach is like an instant spending plan. The idea is that you carry around just the amount of cash you want to devote to various spending categories (lunch, entertainment, cute shoes) for that week. If the envelope is empty before it’s time to re-fill, you’ll need to start getting creative with ramen noodle recipes.

There’s no right or wrong way to do it – just use whatever method works best for you.

3. Say “no” to plastic.
Lucky you, it’s a lot harder these days to get a credit card than it was for last year’s incoming freshman. Seriously, the new laws that prevent anyone under the age of 21 from getting a credit card in their own name without proof of income or an adult co-signer is going to save you years of financial trauma.

Ask just about any grownup about their biggest financial regret from college and the answer will be: “Plastic.“ (I know people in their 30s still paying down debt they rang up when they were co-eds. We’re talking about pizzas that end up costing hundreds of dollars because of the interest that racked up over the years.) Don’t be in such a rush to prove that you‘re creditworthy. Building credit takes time. Ruining your credit is a piece of cake.

All that said, mom and dad may want you to have a plastic safety net for emergencies (e.g. actual “I‘m stranded roadside and need to pay for a tow“ emergencies, not “awesome sale at Abercrombie!” quote-unquote emergencies). If so, here’s a 60-second crash course on credit — how to establish a squeaky-clean credit and avoid the shackles of debt.

4. Avoid late fees like the plague.
It’s one thing to sleep through a Tuesday morning biology lecture. It’s another to hit snooze when bills and other time-sensitive money matters come due. Your mea culpas are no good in the real world. (And, no, last-minute cramming won’t get the electricity turned back on.) Messing up leaves a mark – and this time, it’s your money and reputation that’s on the line.

- Make a few too many ATM withdrawals this week? Feast your eyes on the litter of rubber checks and overdraft fees multiplying in front of your very eyes! (The remedy: Sign up for low-balance alerts. And decline pricey overdraft protection programs and link your checking account to a savings account or just let the bank deny purchases you don’t have the cash to cover.)
- What’s another late payment to Visa? Yet another late-payment fee as well as a nasty bruise on your credit report that won’t completely fade away for the next seven years. (Just automate your payments so at least a check for something is in the mail on time every month.)
- Watch in amazement as that crumpled $25 parking ticket at the bottom of your messenger bag morphs into a $100 one (special for last-minute callers: a free lovely safety-yellow car boot!).

If that’s not enough to convince you to hit your due-date deadlines, then think about what you could have done with the money you instead blew on $35 late fees, $20 expedited payment surcharges and $100 fines for defacing campus property.

5.     Mooch rides as much as possible.
It’s not just about saving money on gas. If you’re under the age of 25 insurance actuaries assume you’ve got a lead foot and an “I Drive Like I am Invincible” bumper sticker. Maintaining a clean driving record (for at least three years), and paying for small claims out-of-pocket are still the best ways to keep insurance costs in check until you age into better rates.

However, there are some ways that college students can still drive a better car insurance bargain. Let your insurer know if:

- You’re parking or garaging the car in a different location (a low-crime zip code or secure garage, for example)
- Acing your finals. Good grades may earn you a “good student” discount on your premium
- Are in the market for renter’s insurance (if your stuff isn’t covered under your parent’s homeowner’s policy). Buying coverage from the same insurer can cost less than purchasing separate plans from different companies.

6. Bonus tip!: Make everyone wonder if your new beau just loves you for your money.
You’re young, scrappy, and while you might not have a lot of extra money lying around, you do have one thing in spades: Time.

Time is an investor’s best friend. And right now you’ve got enough of it to make your elders spitting jealous. (Most elders will say that the second biggest financial regret behind racking up credit card is not starting to save and invest sooner. Seriously, just ask.) When you’re young you have time to weather the stock market’s ups and downs. You have time to let whatever money you can squirrel away compound and multiply.

While that $2,000 you saved on textbooks is indeed a lot of beer money, what if I told you it could be worth $15 grand by the time your 25^th reunion rolls around — or grow to an extra $70,000 by the time you’re ready to retire. That’s the power of compound interest — a concept they do teach at colleges, but most students fail to put it to use in the real world when they have the chance.  (Here’s how to get started investing even if you have mere dollars to do it with.)

Make saving a lifelong habit by starting now. Get into the habit of watching expenses, saving and investing now while time is really, really on your side. The sooner you start building wealth the richer you’ll be in the end.

In addition to playing the cello the indie band Addieville, Dayana Yochim is the consumer finance expert at The Motley Fool (Fool.com). She graduated college (Rock Chalk Jayhawk!) with only minor financial bruising thanks to in-state tuition and the lack of plastic in her wallet.

Before the big clean-out. And this is only one half.

Everyone’s got a vice, a bad habit, something they know they need to change. Unfortunately, everyone also has a million excuses why they just can’t do it. Not anymore. Every month we will be following a different CollegeCandy writer as she takes on a personal challenge. This month we’re following Kelly as she proves to her mom, and her wallet, that she can go one month sans shopping.

Finally, the last week of my challenge. I never thought I’d get here without sneaking around UrbanOutfitters.com at midnight to get my window shopping fix (Okay, so maybe I did it once. Or twice.), but here I am. And surprisingly, I’m not counting down until 11:59pm, April 30th with my credit card in my hand.

In other words, it was a successful month. There was a lot more to be learned than just limiting my purchases of white shirt after white shirt after white…you get the picture. Keeping track of all of my expenses was much more eye opening than I thought.

According to my paychecks (assuming that they are correct) there are literally hundreds of dollars that I can’t account for, because Starbucks here and there is never really Starbucks here and there. Every coffee, Jimmy Johns sandwich, tequila shot, etc., adds up to a pretty shocking number in the end.  For me, the purpose of keeping tabs on my expenses this month was solely to see how much I spend without a budget. Now that I know how much I’m spending on going out every week, I can make an accurate budget to keep me from ever spending that much again. Sure, I’ll have to switch from Martini Night to $1 Draft night, but after pre-gaming, Skol tastes the same as Grey Goose anyway.

Since for some reason 90% of the people I know here left for the weekend, I spent a good majority of Sunday cleaning out my closet. I found a hidden stash of cheesy t-shirts (The Beets Killer Tofu Tour, anybody?) and a great deal of things I forgot I even had. After a load of laundry, there are six “new” free shirts hanging next to “new” jeans, and a huge bag of stuff for the local Goodwill. Another pro: I was able to make a list of things I actually needed, like flats without holes forming around the big toe, instead of just going back to the world of shopping with some crazy bedazzled thing I’ll never wear.

I got a lot of comments from you ladies wanting to do the same challenge but didn’t think you could. Believe me, I didn’t think I could either. But it’s not as hard as it seems, promise! Just remember these few things:

1. Don’t be too hard on yourself. If you caved on a new pair of shoes, don’t throw your whole challenge away!
2. Don’t go too extreme! Cutting out all unnecessary spending (ie: anything except groceries and rent) was not an option. But leaving your debit card at home and only keeping $20 on you for nights out is definitely reasonable for anybody.
3. Wait to click “submit order.” If you really love something, wait to order it and if after a few days you’re still thinking about it, get it. The wait will ensure that you think the shirt/skirt/etc is worth the money and will fit nicely within your current wardrobe.
4. Don’t go back to your old ways as soon as it’s done. After a month though, you’ll never want to.  With all of the money you’ll save over the course of a few months you’ll be able to pay for next year’s Spring Break trip to Cabo.

Well, the easy part of my challenge is over: next comes the budgeting part. Thanks for all of your support (I was able to please my mom!) and advice. We’ll have a new lady sharing her challenge next month, but I’m definitely not done with this one yet. Wish me luck!

I GOT MY TAX RETURN! WOO! Thank goodness I have until May to figure out what I want to do with it.

This week has been 127 times better than last, shopping wise. I’ve been so busy that there hasn’t been much time to dig through F21′s new daily arrivals. Not shopping wise though, stress has been killing me. Exams, term papers, projects… I don’t even see my boyfriend anymore. And I live with him!

Not to mention that for the next five nights I’ll only be reachable at my place of employment, filling patrons with fajitas and margaritas on our newly opened outdoor patio. While I plan on making $$$ (and not spending any of it until next Monday), I can’t help but sighhh when I deliver sangria after sangria, and queso dip after queso dip, to groups of girls in the middle of the afternoon. That should be me! What this means is that when this challenge is over, I’ll need a big reward in the form of new sandals.

I won’t post my janky Microsoft Excel “budget sheet” this week because many readers (sorry to call you out, but not really) claim to have no sympathy for my “petty problem.” I’ll be the first to admit that I don’t need to blow money on clothes when I’m in debt with out-of-state student loans (yes, I pay myself for school, my apartment, everything), but it is not becoming a problem where I am $16,000 in debt a la Rebecca Bloomwood. Alcoholism is a problem. Peeping Toms are a problem. Wanting to look nice and have a good time in college is not a problem. I get my bills paid on time, I’ve been able to put a good amount of money into savings, and how I spend the rest of my money should be of no concern to anyone. Hell, my credit limit is $500, not $10,000! And most of it goes towards school books every semester. I know that being a writer for this website leaves me open to criticism, but I would not tell someone whose challenge is to cut out junk food, “There are starving children in _____! You shouldn’t been eating Cheetos to begin with, fatty!” (Fun fact: Cheetos are my guilty pleasure)

That being said, I’ve managed to pay another $50 on my credit card, bringing the balance down the lowest it’s been in months! And even though I made a brief pause at the window, I passed up the new Free People window display in a store on my way to Spanish class. I’m actually feeling really good about this month so far and although I can’t wait to spend my tax return, I don’t think I could ever go back to the hour long debates I have with the “submit order” button like I did last week. Saving money feels good and I’m starting to realize that I don’t need another scarf, another tank, another pair of jeans.

Only 5 of the 24 scarves I own.

Everyone’s got a vice, a bad habit, something they know they need to change. Unfortunately, everyone also has a million excuses why they just can’t do it. Not anymore. Every month we will be following a different CollegeCandy writer as she takes on a personal challenge. This month we’re following Kelly as she proves to her mom, and her wallet, that she can go one month sans shopping.

So because of a recent underwear purge (I estimate I have about 60 pairs), I found myself needing some nude n0-show undies for an ivory dress my mom bought me over Spring Break. What started as an innocent visit to VS.com for one $10 thong turned into a $250 shopping bag that won’t stop staring at me. There was a sale on swim suits, please don’t judge!

Besides being begged by my wish lists to type in my credit card number, I haven’t bought anything. But it has not been that easy. You don’t want to know how much will power it took to not by a t-shirt from the Alexander McQueen sale on Gilt yesterday ($99 instead of $300 to own some McQ? I die.)

On top of giving up shopping, I’ve been keeping track of exactly where I spend all of my money.

$105 on going out to eat in one week? How did I NOT catch that before? (For those of you wondering, I am not spending my parent’s money, all of the “Money Made” is cash I walk out with every night from work). I made $200 this week and as of now, I have nothing to show for it. I’m actually making myself a little sick thinking about it. I have a great job with potential to make great money to put away in savings or buy a vacation, but instead I spend it on BDubs and Hawkeye rum.

But what can I say? I love going out to eat with my friends and having a good time. Isn’t that what college is about? Giving up this lifestyle would be a great way to save money, but I’m not sure if that’s a sacrifice I’m willing to make.

But just to prove (mostly to myself) that this week wasn’t a total bust, I made a $25 payment on my American Eagle credit card, $75 on my Visa, and $50 to Victoria’s Secret. Unfortunately the satisfaction of being financially responsible is not making me want a new swim suit any less.

Big changes coming for credit cards!

What did Tiger really say today?

Hilary Duff’s gettin’ married!

Wanna be a better lover?

Baby animal photos make Friday even better!

Mitt Romney vs. LMFAO?!

CollegeNews.cm ranks the best credit cards for college kids.

So what’s the real story behind Miley’s tat?

Who wears that much makeup to work out?

So this is what happens when Tiger runs out of women….

Mmm. Chris Pine looks good in a suit.

What’s up with the spanking?

I was wrong.

Miss Nordstrom had swindled me into signing up for the real deal. Luckily, I only charged a good $110 to my new card (that’s sarcasm), however, in an effort to ensure that I never get myself into this kind of debt debacle again, I decided to stick to buying from people who understand what it means to be a struggling artist (er, writer, whatevs). So, I turned to the online shopping portal Etsy – my favorite place to spend time (& cash) on the internet.

For those of you who have been living under a rock (or without an internet connection or penchant for online purchasing), here’s some quick Etsy 411:

“Etsy is a website that provides the general public with a way to buy and sell handmade items as well as vintage items and craft supplies.” (Thanks, Wikipedia!) Basically, the site is chock full of handmade/eccentric goodies – from vintage handbags to hand sewn dresses, created by regular people like you (or the craftier version of you). A lot of the designers on Etsy keep it eco-friendly, too, which def gets a thumbs up from me.

But, if you’re a first time Etsy-peruser, it can be a little intimidating. So I’m here to break it down for you & showcase five of my favorite E-fashionistas. I found five sites that not only offer swoon-worthy threads, but are safe for your wallet (or Mom’s Visa bill).

1) Every Little Counts . Okay, okay. Screen-printed tees are a dime a dozen. But I’m a sucker for romance, and I lurrve the creative sayings that adorn these breezy tees & tanks, like “Feel Like Making Love,” “A Violent, Sensual, Sensitive Girl” and “I can’t fight this feeling.” Adorbs.

2) Sandmaiden. Sandmaiden is a little pricey, but the designs are unique and are made from all-natural fibers. Plus the clothes are SO. UNBELIEVABLY.COMFORTABLE. Not kidding. Just check out these little beauties and imagine how wonderful that organic cotton jersey blend would feel draped over your achy bod the morning after a night of heavy drinking. Even better? You’ll be the only girl on campus with one, since most pieces on the site are one -of-a-kind designs.

3) Maiden Rapture Vintage Okay, the goods in this shop aren’t all handmade, but who doesn’t love vintage cardigans, dresses, blazers and accessories? This site makes it easy peezy to find the perfect unique piece from the 50’s, 60’s or 70’s to add to your wardrobe. I’m obsessed with blazers and plaid lately, and I found plenty in this shop. And the prices are totes affordable.

4) Sarah Seven Made from recycled vintage and natural fabrics, Sarah Seven concocts clothes worth coveting (and saving beer money for). The shop offers dresses, skirts and shirts in “vintage-inspired” designs with a modern spin. Each piece is custom designed (you provide your measurements and bra size), so you know you’re getting a perfectly unique, tailored fit every time. Even if you don’t snag yourself a darling dress, the site is totally worth checking out just for the awesome photography. I want to believe that Miss Sarah Seven herself is the girl in the nerdy (yet somehow chic) green glasses, but I think that’s just because I’m sitting here wearing my coke-bottle glasses & feeling lonely. Oh — and 5% of each purchase is donated to charities. Cool.

5) 75Rabbit For the patchouli-applying hippie that exists in every college student, enter 75Rabbit. With “far out” designs & duds made from recycled pre-used fabrics, what’s not to adore? The only catch: The shop lists only one page of items at the moment. But the prices are reasonable & where the hell else are you going to find a flattering and totally unique dress with John Lennon’s face on it?! Nowhere.

I’ve shared some of my faves – now it’s your turn! Where do you shop on Etsy?

Looks like Balloon-boy’s family wants to be famous.

Madonna’s making enemies.

Did Nicole Richie tie the knot??

Let’s talk about credit card debt.

Spotted: Posh Spice on Gossip Girl!

This must be the son of Superman.

This money's all mine now, bank!

When I got to college, my parents and I debated between giving me a credit card or a debit card. With my propensity for shopping and dining out, my parents had enough foresight to realize I’d be $20 million in debt by the end of the first semester with a credit card at my fingertips. Debit card it was. But that didn’t come without its own share of problems.

Before I discovered the wonders of online banking, I was always petrified to use my debit card when I feared my funds were nearing depletion. The curse of the overdraft fee haunted my nightmares. There’s nothing worse than overspending by 30 cents and being charged $30 for your mistake. Then being charged another $30 for the automatic withdrawal from the bank to cover the overdraft.

WTF? How do they expect you to pay off the charge of overdrawing when having no money was the very thing that put you in this place to begin with?

But all of this may be coming to end. And hopefully, on my tight budget, it will be sooner rather than later. There is proposed legislation on the table that will force banks to ask the customer whether or not they would like the “protection” of the overdraft program instead of automatically enrolling debit card users in this plan. (Basically, we will have the option of being able to withdraw more money than we have in the account [with a fee] or only use what we got [without a fee].)

I love how they think the overdraft fees they impose on me are protecting me. Protecting me from what? The humiliation of getting my card rejected when I’m trying to purchase a box of tampons? Well, they’re right. I would be embarrassed. But that’s why I always go through the self-check out aisle when I’m buying feminine products. But in all honesty, I’d rather be turned down and tampon-less than $30 in the hole. Not even the Tampax Pearl is worth that much.

So, fingers crossed on this one.  Assuming all goes well with this bill, you can now purchase that 30-pack of beer/late night take-out/economy size bottle of Midol without fear…and use that extra $30 you saved from those overdrafts for something more important.

Like the perfect fall dress.