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].) Read More »

Womenomics.

The word just rolls of your tongue ever so smoothly. What does the combination of the two words, women and economics, get you? Well, a working economy for one.

According to at least half a dozen studies, including those from Columbia University, Goldman Sachs, and Ernst & Young, “women can make the difference between economic success and failure in the developing world, between good and bad decision-making in the industrialized world, and between profit and loss in the corporate world.”

WHAT NOW, boys of AskMen.com? You want to go up against some of the biggest firms in the world on this one? Want to argue with the handy charts and graphs Ernst & Young whipped up proving that “companies with more women in senior management roles make more money”?

Not that anyone (well, anyone who really knows women) was surprised by these results. Diversity of any kind strengthens society and business. Obviously men and women think differently, so it’s important that there are always a variety of viewpoints to achieve a successful outcome. A business meeting with 100 % testosterone isn’t going to achieve the same effect as one with the voice of females present. (And will also probably involve some sort of push up contest…)  We’re not saying a whole table of women is the greatest idea either, but the female presence clearly does make a difference. In fact, McKinsey & Co’s study produced results that found that “great diversity in management led to higher-than-average stock performance.” Read More »

Although you probably do not know who Lilly Ledbetter is (I didn’t know until this past week), you should thank her.

For the last ten years of her life, Ledbetter has fought for equal pay rights in the work place for women. After experiencing pay-based discrimination because of her sex (and learning about it through anonymous letters in her work mailbox), Ledbetter filed a complaint of gender discrimination with the Equal Employment Opportunity Commission (EEOC). Making a long story short (however, you should read the whole story over at CNN), President Obama stepped in and signed the Lilly Ledbetter Equal Pay Restoration Act this past week making the fight for women’s rights and equality better upheld through the law.

While I feel gratitude for Ledbetter’s ongoing battle with the Supreme Court and Congress to pass this act that will give women the rights they warrant and money that is rightfully theirs, I know that work is still left to be done.

It may seem hard to believe, but to this day, full-time working women get paid “on average, only 77 cents for each dollar full-time working men get paid,” according to the Wage Project. This happens in every occupation across the nation, and while it impacts women in different ways, the reality of it is that hardworking women with outstanding college degrees lose money in their pockets simply because of their sex.

Think about it. Imagine working at the same place, doing the same job as a man (who has the same degree and amount of experience as you), putting in the same hours, only to find out he is, in fact, making more money than you on an annual basis. How is that fair? It’s not, at all.

But it is reality. Read More »

(Yes, we realize that babies are not college bloggers, but it was just so cute.

What up, ladies? It’s Tuesday, which means 2 things:

1. You got a lot to do before the weekend.

2. It’s College Blogger Shout Out day!

Yay! Just what you need to get you through those long days at the library. You can’t write 3 papers back to back with no breaks, can you? These sites are perfect for the time between the papers when you have to stop or your brain is going to melt/you are going to go crazy.

We found some great ones for you this week, so check em out and enjoy. Just don’t enjoy them too much; you still have a class or two to pass before break.

That’s So Fetch: Addicting, hilarious and the best way to avoid the stacks of notes on your desk.

Driving on the Sidewalk: A pop culture blog written by a hilarious and fabulous college coed. If we knew who she was, we’d make her be our friend on Facebook (and in real life).

Where Is Wall Street: Finance is boring, but not on this site. Money and all that jazz is all broken down for you in an interesting, entertaining and relateable way. Who knew economics would be so fun?

With the economy in a serious downturn (thanks to the Wall Street Hangover, apparently), smart college women like ourselves know better than to hit the malls and stock up on the latest fashion. We have to save! We have to buy gas! We have to invest in our futures!

But, there are just some things out there that are worth a little splurge. Sure, you may not be able to buy corn products next week, but who cares? You have yourself one of these babies:

1. An iPod.

I’m sure half of you already have iPods, but I’m also sure there are a few of you out there who are like me… unwilling to fork over the dough because you’re cheap and/or poor. Well, let me tell you, investing in an iPod is the way to go. After forking over the dough for something REALLY huge (a new computer), I got a free iPod touch, and wow. Just wow. The future is here. I can’t even fathom getting to access the Internet for free on a device that also plays music and lets me take notes, get the weather, and watch movies… it’s so awesome.

2. A new computer.

After eight years (serious) of lugging around an outdated Mac laptop, I took a deep breath and hit the “purchase” button last week for a new MacBook Pro. My old computer was still working… it was like a tortoise in terms of speed, though, and it wasn’t really capable of streaming video. Oh, yeah, and the total hard drive capacity was 9 GB. My new computer, I am already convinced, is the best investment I’ve ever made. I can Skype! I can load Web pages in under the amount of time it takes me to make a sandwich! I can listen to podcasts! With my old Mac, podcasts were something strange and exotic that I had heard about but never experienced. If you too are toiling away on an ancient computer, GET A NEW ONE! It is sooooo worth it! Read More »

Everybody knows college is expensive, but did you know that for a growing majority of college students — gas is trumping tuition?

According to the always lovable and informative New York Times, the numbers of students enrolling in online college courses — so they won’t have to spend all their extra dolla dolla bills driving to and from campus — has drastically increased.

“The vast majority of the nation’s 15 million college students — at least 79 percent — live off campus, and with gas prices above $4 a gallon, many are seeking to cut commuting costs by studying online” claims the article, which goes on to say that certain colleges are experiencing a 50 to 100% increase in enrollment for their online courses.

As if plunking ourselves down in front of a computer (where there’s every distraction from bad reality TV to that f*cking amazing turkey sandwich waiting for you in the fridge) in an attempt to learn wasn’t spelling enough trouble for our education, certain people (like the president of Brevard Community College, as interviewed by the NYT) fear that our sh*tty economy, combined with the price of gas, might cause certain college students to drop out of school completely. Read More »

I am a major-league cheapskate, so I have always liked to stretch my dollars like they’re Gumby figurines. Now that the economy is sinking like an anchor, I have collected a few more tips to stretch them even further. And I’m happy to share.

1. Reuse plastic bags.

Does this seem like a no-brainer? I hope not, because for the longest time it just didn’t occur to me. You can reuse plastic grocery bags to carry your lunch (or various other sundries). You can also reuse plastic Ziploc bags—unless I’ve filled them with raw meat, I just rinse the bags with soapy water, run clean water over them, and let them dry. Ta-da! Ready to be used again.

2. Shop thrift.

You guys probably do this anyway, but try doing it exclusively for a month, just to see what happens. For clothes, shoes, and accessories only, pick up everything you need or want at thrift stores, secondhand shops, or consignment stores. You’d be amazed at some of the great stuff you can find. Last month I picked up a brand-new French Connection dress at a thrift shop for six bucks, no joke. Read More »

A few days ago, I began my research into the often frightening and very often misunderstood word known as recession. In this episode, we continue to unlock the fiscal mystery that seems to have our country in a headlock…

Why is everyone talking about taxes?

Taxes are a way that the government can inject money back into the economy.

A way of reversing the chain—you buy something at a store= store owner buys something at another store= etc.

President Bush and Senator McCain believe that continuing the current economic trajectory with regards to taxes is the proper response. They feel that this is all merely an economic downturn, — not the R-word.

Both Senators Obama and Clinton call for tax reform in the form of restructuring the system – placing the burden of taxes upon the upper echelon of people and giving more breaks to the middle and lower classes.

While the politicians continue their debate over tax cuts/ breaks/ rebates/ and whether the term recession should be employed, you and I are daily facing the economic reality—whatever you choose to call it. Read More »

For those recently out of college, networking is everything, right? So when my friend recently attended a private dinner party of illustrious alumni, she was keen to put her best foot forward. She mentally prepped herself on the recent developments in the presidential race, international affairs, and just in case she ran into freakish people, Britney Spears.

Half-way through dinner, she was feeling pretty good when suddenly, out of nowhere popped the R-word. During a lull in conversation a pompous 30-something guy suddenly said to the guy next to him “So, Tom, are we really heading for a recession?”

Her mind froze in terror: would her dirty secret be revealed? The fact that despite three econ courses she still had no clue what a recession actually was… luckily, she was able to pull of the role of the politely-interested-looking-yet-silent-nodder until the topic once again changed…

Her story got me thinking—how many of us are clueless when it comes to the word recession, knowing nothing except that mentioning it in politics is akin to yelling fire in a crowed theater?

With this in mind, I present, (drum roll if you please), A Girl’s Guide to Recessions Read More »