This week I was perusing USA Today (trying to find the crossword puzzle) and stumbled upon an article that struck me as, frankly, a bit terrifying. The article screamed HUGE DEBT, NO SAVINGS in my face, warning all of us in “Gen-Y” (that group of seventeen – twenty-somethings) that we’re the only generation unlikely to out-succeed our parents financially. Harrowing stuff, especially since we seem to be in a generation of “buy now, pay later.” And when we do buy,  we want the newest and shiniest and don’t settle for less than designer brands…. Not exactly recession-friendly behavior.

The article had me thinking about my own spending habits and the habits of my peers. I certainly have gotten my act together over the past year but still struggle with the little things. I write checks and forget about them until they hit my account. I have days where I spend ten dollars on Starbucks. And then other days when I spend $20. I went through a period where I didn’t pay off my credit card balance every month (never. again.). We all struggle with the economy and our own personal finances. Here are the top 10 ways to be a savvy spender and super recessionista.

10. Keep track of your spending.
Do you know how much you spent all day yesterday, to the dime? Well, you should. Keeping on top of every little expense can save you cash in the future and keep you mindful of where your cashflow is going.

9. If you can’t indulge, don’t indulge.
I’m not saying to give up every indulgence, but if you’re about to spend $200 on a dress that you don’t have, then either wait for it to go on sale or just walk away. The dress will always be there, so wait til the cash is.

8. PAY IT OFF.
If my dad is reading this right now, he’s falling out of his office chair laughing hysterically. It took me a year to pay off my credit card balance and you know what? The only way I could do it was to mail my credit card home and never, ever have it on hand. I’m sure there are people out there who can manage their money and understand that when you receive a credit card bill, you must pay it off every month. I was not one of those people. Fees, charges and overdrafts all affect your credit score and your finances. If you can’t handle it, don’t have it. If you can, pay it off every. single. month.

7. Write down your debt in a place you’ll see it
Paint it on your wall. Write it on your fridge. If you owe 50k in student loans, THINK ABOUT IT every time you spend money. Sure, buying shots for all your friends might seem like a great idea at the time, but that seventy dollars could be going to your loan payments. Do you really want to worry about student loans when you’re ready to take out a mortgage on a house?

6. Cut back on the frills
I love caramel frappucinos, fancy make-up and high-end jeans. But, if I skip the Starbucks and hit the office coffee machine, ditch Sephora for CVS and pass up Saks for the Gap, even just for a month, I’ll save over $400 a month. Trust me, no frapp is yummier than that.

5. Plan, plan, plan
Okay, so you want to go on vacation in two months? Plan all your expenses ahead of time. Flight, hotel, bathing suit, meals, drinks, etc. Once you lay out a budget and know how much you need to set aside, it will keep you saving.

4. Get by with a little help from your friends
Plan free or cheap activities with your girl friends. Spa day at home, baking and picnicking are huge budget boosters over salon mani/pedis, high end cupcakes or fancy dinners.

3. Take advantage of your Tech-savvy
Right, Gen-Y is terrible at saving money. We’re the generation that live in a recession and have more debt than any other generations. Blah. Blah. Blah. We get it. But, what’s that one perk that we have? We’re so tech-savvy. From twitter to iPhones, we know how to work the techy angles. So embrace it. Download finance managing apps for your phone or sign up for Mint.com to see where your money’s going. Be smart and savvy and use the tools available to help!

2. Think of the big picture
If you’re still in school you don’t feel the weight of your loans right now. Even if you don’t have loans, great, but you’re about to have a whole mess of new expenses coming your way. If you plan on ever buying a house, leasing an apartment or buying a car, save now and save often. You never know when life’s going to throw you a curveball and if you don’t have that financial cushion, things can get pretty ugly, fast.

1. Don’t stress.
Yes, thinking about finances sucks. I can’t think of anything that gives me more anxiety (not even the thought of putting on a bikini in less than a month). But don’t let all the statistics terrify you. Just take a deep breath, evaluate your spending (past and present), then plan for your future. Pretty soon you’ll be ballin with a big house and five cars before you know it. Just don’t put it on a credit card!

College is expensive. Really, really expensive. Even with scholarships and financial aid, most of us are left wondering how we are going to pull this off.

Of course, there are several ways to approach the issue:

1. We could go to Mom and Dad (assuming they could help in the first place, or that you want them to – this is a slippery slope to giving them more influence over our futures than some of us our comfortable with)

2. We could take out a loan (but that means lots of scary paper work, co-signers, and debt)

3. We could sell our virginity

3. We try out the newest trend: human capital contracts.

In my opinion the name sounds a lot scarier than it really is. It might just be me, but the words “human” and “contract” ooze creepiness and give me visions of living as a sex slave for the rest of my life. Fortunately for me, thats not the case here.

Human capital contracts are the newest resource in paying for higher education. Basically, investors (companies) would agree to pay for your education in return for a percentage of your future income over a fixed period of time which is scaled to your wages. Unlike loans, you are essentially using your education as collateral, betting on yourself and your abilities. Meaning the more you earn, the more the investor will take. The flip side being, the less you make, the less they are entitled to.

Of course, anything dealing with finance and debt and signatures makes me hyperventilate, so naturally I had some questions. The most important ones being, “What do I stand to gain?” “Why are investors interested in my education?” And, of course, “Will I end up chained to a radiator in the basement if I don’t get a job?”

Here’s what I found:

Human capital contracts are set up as a potential win-win for investors and students. The risk is transferred from students to investors but still draws investors in because they could potentially gain more than they would on a traditional loan (which earn investors money through interest charges). This idea could potentially open the market up, as it is no secret that in today’s economy loans are limited due to rising costs and government funding is rapidly being withdrawn. But with this new alternative more kids could finish college and become productive members of society.

Unsurprisingly, with any good idea there are some drawbacks. These drawbacks mostly surround investors, but students should be aware of what they are getting into as well.  The biggest issue right now seems to be getting students who are potentially interested in higher paying jobs (doctors, lawyers, future millionaires etc.), to balance out lower income jobs (starving artists, writers, non-profits, and, um, me) because these are the students who will earn investors money. Admittedly, I was wrong with my whole sex slave theory, but critics are saying that this agreement resembles a form of indentured servitude because you are in some ways owning a piece of someone else… but the same could be said about traditional loan arrangements, right?

What do you think? Would you be interested in human capital contracts to pay for school?

Of course, having a Bachelors doesn’t really do anything anymore. I’ve heard about a ton about people who have their Bachelors and are working at a Domino’s or something. Getting a Masters seems like the next logical step, for students and apparently their parents. So is it such a bad thing that I really don’t want to go?

Being around a ton of people who are all talking about getting recommendations and narrowing down their grad school list makes me realize more and more that grad school really isn’t for me. My mom’s look of horror when I told her this one day this summer is the only thing I see when I talk about wanting to go into vet tech after I get out of school. Issue is, as an English major, I’m mildly suffering with what-do-I-do- with-this-diploma? syndrome. Publishing and editing are options, sure, but I don’t want to deal with that crap. It seems that some people assume that because a field has something to do with your major, you will inevitably want to be a part of that field.

And of course, there’s that inevitable money issue breathing down the necks of graduates. Do you stay in school for another two years so you don’t have to pay off loans just yet? Everyone seems to sort of just assume that jobs are lining up to grab college grads, but with the economy the way it is, I’m thinking that this is somehow far from the case. More and more of my senior class seems to be regretting their major because there’s nothing they can do with it to get money. What ever happened to going to college to just learn?

I’ve never been too good at thinking about my future, anyway. Most people need to schedule, but I just work on the fly, and that’s not the easiest thing to do when everyone is shoving grids and boxes with terrifying numbers like “2010” on them (weren’t the 90’s just like a year or two ago?) in your face. Though I should probably start looking into vet tech stuff now – so, if anything, I feel less out of place when people say, “So what are you going to do after you graduate?” – work wise, I’m not really gonna look into that until after I graduate.

Future aside, it kind of surprises me that I only have about five full weeks of class left. Didn’t the semester just f**king start? Why haven’t I gotten drunk yet? How have I slept through three of my morning classes so far? Why does that one freshman keep flirting with me when I’m pretty sure he’s still jailbait? I’m not sure how well I can handle the fact that most of the freshmen were born in 1990 or later. That was only about ten years ago, right? …right?

Damn, am I ever out of touch with time.

But you know what?  I disagree with those stories.

I think life is what you make it. I think that if you want to be happy, you will find a way to be happy. I think that if you’re meant to be in college, you will study hard and learn and enjoy it along the way.

I’m 24 and my twenties have been my favorite part of my life so far. Granted, I’m constantly trying to have the best time of my life, so I’ll probably be bouncing off the same sentiments when I’m 40, too…but what’s wrong with that?

There are some things about being a twenty-something that have hit me hard. For example:

Unlike a lot of my friends, I had to work 2 jobs through college.

I didn’t sleep more than 4 hours a night while in college.

I spent my freshman year literally starving because I didn’t have any money.

Since college, I have lost jobs.

I have lost roommates.

I have lost childhood best friends.

I have been betrayed by people I thought were my friends.

I have had to take out loans.

I have had my heart broken. Repeatedly.

I have been sick and learned to deal with it without health insurance.

On the other hand, the great things about my twenties have totally outweighed those negative things.

I have learned the value of a good work ethic.

I have learned to value sleep, now that I have it.

I have learned to appreciate food, now that I can afford it.

I have learned to be grateful for my job.

I’ve learned to love my roommates.

I have made some new best friends that have changed my life.

I have maintained my loyalty to my friends, despite how it’s burned me in the past.

I have taken pride in my ability to pay back my loans.

I have learned to heal a broken heart. Repeatedly.

I have learned to take care of myself.

In conclusion, I’ve been having a blast. Sure, things haven’t been handed to me on a silver platter the last six years, but it’s all been part of the process. Over all, even during the hard times, I have had a blast and I have never stopped appreciating my freedom.

Your twenties will likely challenge and push you, but that doesn’t have to be a bad thing.

[photo from: bgccapo.com]

The country is getting ready for a terrible recession. Banks are folding and getting bailed out by loans from the FED (which has federal in the name but is private). Scientists are trying to rip open space and time using the Large Hadron Collider. Someone like Sarah Palin is officially close to being involved in a presidency.

The signs are there: the world is going to end. And while I’m sure no one can get a godd*mn job right now (lord knows I can’t), we can at least look forward to the post apocalyptic job market that’ll present itself once the gaping maw of darkness spreads wide, and evil once again walks our planet.

Here are some jobs you may want to start building a resume for.

Motorcycle Pirate

Everyone knows two things run rampant in all post-apocalyptic scenarios: piracy and motorcycles. It’s only natural that these two things will be combined. The typical setting for piracy, the high seas, will naturally be off limits thanks to its new, boiling temperature and thousands of large squid (oh, they’re coming). Any experience using cycle-type vehicles, including ATVs, motorcycles with sidecars, and those weird three-wheel choppers is a plus.

These roving gangs of men and women will pray on the villages that remain after the world’s collapse, taking what they need to survive and possibly more — depending on their allegiances. With a myriad of guilds to choose from, it’s a worker’s market. Will you join the Diesel Apes? Or perhaps the more ecologically minded Ethanol Crusade?

People not comfortable with goggles need not apply.

Arena Warrior

When the end of time finally comes to fruition, most ‘applicable skills’ will be based around the lowest of human instincts. Can you channel your customer service experience into a desire to kill other humans? Or maybe mutated animals? Then arena warrior is for you. A life of bloody celebrity, fighting in the arena is only for those interested in true glory. Reality television stars who survive the atom bombs will fit the position well.

Fight for recognition and respect from your new demon overlords. Please send a color head shot, measurements, and whatever weapon you identify with most (trident and net).

Servant to one of the 8 Great Beings of Darkness

Feeling less then human since the apocalypse? Losing your ability to love and care? Were you upper to middle management / human resources before ‘the great fall’? Then demon servitude is for you!

Your ability to bullsh*t, lie, and step on other people to keep your own job even in the face of incompetence will keep you alive. Necessary skills include groveling, serving a bizarre myriad of human and animal flesh, and interviewing incoming employees. Paid vacations and dental. You may be branded with the seal of the eight.

Crystal Farmer

Currency means nothing. Additionally, when the apocalypse comes, it will mean even less. The value of something is directly related to its shiny-ness in the eyes of apocalyptic demon lords, and so we too must adopt this system. Someone with money on the mind? You’ll fit in perfect toiling in the mines as a crystal farmer.

First you get the shinies, then you get the power, then you get the women (or men), then you use the various geodes and stalactites you’ve pulled from the earth to buy life’s finer things: water, food, and various types of ‘power armor’ that protects you from the new species of sentient mosquito/bear hybrid that inhabit the mines (Bearsquito). Accounts with strong backs wanted. Bring your own canary.

Village Leader

Did you have an important but thankless and overall financially unfulfilling job before the devil’s ascension? Valuable sh*t that nobody cared about because the roads didn’t involve camera time and a big pay check? Teacher? Doctor? Social Worker? Congratulations! You have the fortitude to take the shivering masses that remain since ‘the unCreation’ and form working and livable villages. You are officially important to people, and all it took was the MOTHERF*CKING APOCALYPSE.

Try not to let your righteous indignation get in the way of teaching people how to actually garden, ride bicycles, and do basic math.

…At least we won’t have to dress up for interviews.

None. Zero. Zip. Zilch. Nada. They didn’t cut their $500 million budget to, say, $250 million. They exed the loans altogether.

MEFA secures loans for 40,000 students who live in Massachusetts, or who attend school there. Unfortunately, this year, the financing authority could not secure the money. Executive director Tom Graff blames “disruptions in capital markets.” So, just like that, 40,000 students are sh*t out of luck.

MEFA is the first to make headlines, but any financing authority could also be treading on thin ice. Which means that students across the country could be forced to drop out of college, or sell their souls to finance a degree that can cost upwards of FORTY GRAND per year at top-notch schools like Carnegie Mellon, Tufts, NYU, and Notre Dame.

When I was in college, I played my cards right, and managed to get through my degree with almost no debt, and decided to pursue a Master’s, rather than join the work force right away. With our declining economy, I am currently paying dearly for that decision. Sure, I have a MA, but with hundreds of thousands of workers being laid off across the country, I don’t have the experience to compete. I’ve been applying for job after job, to no avail. Even the number of job openings in dwindling, because companies are being forced to cut corners left and right.

So, MEFA has set up a hotline for students to call, but I’m not sure how much good that can do. It’s a scary time to be a college student in America. Bernie Pekala, director of student financial strategies at Boston College, spoke out about the current MEFA crisis: “[Students and families] have less obvious choices right now. They’re going to have to look at circumstances and try to come up with alternative financing options if they have utilized this as their main option or only option in the past.”

Many students are going to have to put their education on hold. Many others will complete their plans of study, and come out with a deep debt and fewer job opportunities available. I’d like to know if anyone out there is being effected by crises such as lack of financial aid, student loans, or the job market. Of course, there will be a lot of changes for the country soon (e.g. the upcoming election). Hopefully, things will take a turn for the better…asap.

1) His mother used to be a clown. Legitimately.

2) He may or may not have a short temper (which may be due to the fact that he plays tortured dudes all the time)

3) His sis allegedly asked him for a loan of 100,000 pounds (roughly $200,200), and he said no

4) His mom allegedly insulted his wife, and Bale went all “Oh no you DIDN’T!” on her ass

5) Bale’s family “never wanted to ruin his night” but felt they needed to “teach him a lesson”

Aside from saying what he had for breakfast the day of the blow up, reporters are doing their best to dig through Bale’s past and find some deep, dark poison in his soul or something. Our hypothesis? The guy has a bad temper, has been stressed out for a while, had a giant fight with the fam, and because he’s a celebrity that “row” turned into some kind of Battlestar Galactica implosion in the media.

So yeah, Beautiful Bale isn’t out of our fantasies yet…we just may reconsider challenging him to a rousing game of Battleship…because that sh*t gets heated.

Standford University announced

The rising cost of tuition at private universities (frequently over $30,000 a year, not including room and board) often hits middle class families harder than most people realize. Families making a middle or upper middle-class income are usually ineligible for federal aid or tuition assistance from their school. According to the Project on Student Debt, students who take out loans during college have an average of $22,000 in debt upon graduating from a private university.

Experts say that this is part of major shift in what colleges consider to be the “needs” of middle class students. Unfortunately these generous admissions packages are only available for students attending schools with massive endowments, like the ivies and other long-standing institutions with generous alumni.

Hopefully, as endowments increase across the board, some of that wealth will trickle down to the people who need it most: students!

Well, good news! Apparently, the value of a liberal arts degree is up. The average grad’s salary rounds to about $33,000 a year. That’s almost enough to live in New York City…

The situation is better for those with more mechanical minds (and degrees). Chemical engineering majors earn about $60,000 out of school, and computer science majors aren’t far behind.

And, of course, there’s my brother the petroleum engineer who, at 23, is earning more in a year than I will probably earn in my life. There may be blood in oil, but there is also money. Lots of money.

I rue the day I end up living in his basement.

Check out the list of the most lucrative college degrees here… while I consider changing my major.