Yeah, that's my life savings right there.

Because I’m making six pennies a year in my job after taxes, I follow a very strict budget that allows me to afford a moderate amount of food and a moderate amount of fun. There is no room for a savings plan in my budget so I just figured if I was extra careful nothing would ever go wrong.

Then last week everything went wrong.

I spilled sangria (or water according to the troubleshooting report I made to Apple) on my laptop, I dropped my straightener one time too many and it broke, and I found out my parent’s insurance company is onto me no longer being a student and has dropped me. For those of you non-accounting majors out there, that’s about 5 billion dollars worth of problems.

I had a minor panic attack. And by minor I mean I opened my window, stood on the ledge for a few moments, and thought about who I would haunt if I came back as a ghost. Then logic hit me and I realized that because I’m only one floor up I would just break a bunch of bones, sending me to the hospital and making my lack of insurance problem even worse.

So instead of jumping I thought of my other options. Luckily my grandparents who live in the city had a laptop I could borrow until I figured you out what to do about my laptop-turned-coaster. Unluckily it was designed for the partially blind. I’ve seen desktop computers more portable than this laptop. Hell, I’ve seen elephants smaller than this thing. The screen was about a football field long and the font was visible from space. This proved to be more than an inconvenience when I was blogging at WiFi cafes.  I was writing about STDs for one blog and let’s just say the employees at the cafe did not enjoy being able to read about gonorrhea while serving coffee. So not only did I have to blog from home all week, but I’m pretty sure I’m on a sex offender list now. Read More »

"I love....how much money we're saving by doing this."

[It's pretty obvious that the average CollegeCandy reader has some very strong opinions. Opinions that she likes to share with everyone on the site. We love a strong woman, so we thought we'd give her a real forum to discuss her thoughts, feelings, and perspectives. Every Friday I'll be featuring a hot topic (like lingerie!) and leaving it up to you, the readers, to duke it out. So, read it and get your debate on in the comments section below!]

Even though I keep hearing the recession’s over, those of us on a student budget are still tightening our belts (and not because it makes us look thinner). A lot of innnovative ways to save have popped up in the last few years, but one of the most life-changing is the idea of moving in with the significant other to save on rent.

There are some good reasons girls are doing this, no question. First and foremost – money! Splitting your payments with a roommate makes the payments easier on all, but more over, by splitting with the BF your money (and his) is actually going to the place you’re both spending time. Most couples tend to spend most of their time at one person’s place (usually the one without the creepy or obnoxious roommate/that weird cabbage smell) so it makes sense to pool the money into that place’s rent instead of splitting it up between two different apartments when one barely gets used.  And the money crunch can be a good excuse for moving in – like, say, if your parents are a little less than thrilled about your relationship turning all grown up – if it was something you had planned on doing anyway. Read More »

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 »

With the recession guilting me into sacrificing unnecessary luxuries (oh, multiple, daily Starbucks runs, how I miss you!), I’m wondering how others are handling their own sacrifices. Our daily indulgences have now become something to shake a finger at, but many industries are still thriving by playing into our addictions.

As humans, we have inner demons that can only be quieted by indulging in our uncontrollable desires. Take the concept of the Seven Deadly Sins. Depending on your beliefs or interpretations, you may agree that we have a natural inclination towards these temptations. For example, I totally lust after my boyfriend’s six pack, I greedily horde my money, I’m a glutton for any sort of frozen yogurt, and I envy Megan Fox’s…everything.

Being the crafty marketing team they are, America’s consumer industries are exploiting our desires to indulge in these Seven Deadly Sins (and are getting filthy rich because of it!). Hey, maybe if we all sinned a bit more, we could nix this recession like Cain did Abel! Ready to be a bad girl? Hit up these industries to silence your inner, money spending demon:

Lust – While the recession has taken away many things, at least it’s bringing sexy back! Erotic industries, such as sex toy company Babeland, have seen a 25% increase in sales. Makes sense: The less hours you’re given at your job, the more quality time you have to spend with your brand new Mini Pink Leopard Vibe! The best part? Babeland is always having sales to keep you “cumming” back for more. (Sorry, couldn’t resist.) Read More »

Let’s be honest for a moment here: as college females, we aren’t so good at managing our money. Sure, we’d like to be…until we walk past Anthropologie and have to have every dress in the window and those adorable throw pillows for our bedrooms.

The truth is, money management and financial mumbo jumbo is boring and spending all that hard earned money is fun! Who wants boring when we can have this?

But it doesn’t have to be that way, which I learned after reading So Many Shoes, So Little Money: A Girl’s Guide to Finance. Lisa Serwin, a girly girl to her core, breaks all that budget business down in a way that is easy to understand and, even more importantly, easy to incorporate (realistically!) into the college girl’s life. Serwin doesn’t tell us to eat ramen and wear our leftovers from middle school; she explains how to save and how to spend in a way that won’t send us back to our childhood bedrooms when the money (inevitably) runs out.

Naturally, I needed her to set my budget to talk to her. And I did! Here is a bit about my new financial hero and a lot of useful information that all of us can benefit from!

5 Questions We Ask Everyone:

1. What’s your most hysterical/ridiculous college memory?
That’s fit for print? I accidentally locked myself in a second floor bathroom during a fraternity party.  The door handle broke off, and no one heard my pounding. (The one and only time in history there wasn’t a line for a ladies room!) I climbed out the bathroom window onto the roof – high heels and all, shimmied down a tree, and walked back in through the front door. However, apparently everyone had been watching my descent through the window.  When I walked back in I was greeted with cat calls and applause.

2. What are the five things you can’t live without?
In no particular order:
Great shoes
Chocolate
My family and friends
Books
A good night’s sleep (otherwise I’m really cranky) Read More »

The hardest part of graduating from college for me personally was learning how to manage my money. I was always able to be frugal with my own savings account in college, because my parents were still footing the bill for most of my expenses. That meant that all the big and important stuff was being taken care of and I was only responsible to cover the things that I liked. Like bags. And shoes. And shots of vodka.

But when my dean handed me my diploma, my parents took away the checkbook and I was on my own. For everything.

I didn’t know much about saving, but I knew that I wanted to spend as little as possible on the big stuff so I could have more money for the things I wanted. Like shoes. And bags. And shots of vodka.

But I learned the hard way (by purchasing a broken TV from Craigslist) that while being frugal is a great idea (especially now when saving is even more important) there are a few things that are worth splurging on as you embark on your new life as an adult.  It may be hard to part with the big bucks, but I promise you these 5 items are worth every. last. penny. Read More »

Every girl will go through a time in her life when she has to choose: eat dinner or buy a new little piece of fabulous.  We have all been (or are, or will be) so broke that the basic necessities of human life are juggled on a constantly shrinking stage of available funds.  I like to refer to it as my “starving artist” period, through which all writers, photographers, and other creative people must progress.  My parents like to refer to it as “get a job NOW.”

What is a girl supposed to do?  Let me share a relatively recent discovery of mine: you don’t necessarily need money to have a nice meal out.

I moved to New York City for an internship this month and subsequently have no money.  The first weekend I was here just happened to be my birthday (funny how that worked out), so I was obligated to spend lots of moolah…on myself.  Now I have even less money.  This is a HUGE PROBLEM in a city where every block is full of deliciousness and fun.

My solution?  First dates.

It’s not hard to find a guy to take you out on a first date.  First dates are easy – no pressure, no expectations, and all you have to do is chat pleasantly and eat delicious food (or see a cool movie, or whatever).  If you don’t want to take it beyond the first date, then you don’t have to. If you do, then more power to ya, sister (more free food ).

Either way, you both had a nice time and you got to try a new restaurant for free. Win/win.

Obviously, I realize it’s not very nice to use guys just for a free meal.  But hey, the way I see it, they’re getting the pleasure of my company and conversation and I’m not completely ruling out the possibility of a second date or even a relationship (one not entirely based on free food, that is). And I’ll pay it back eventually. You know, when I have a job and I’m making money and not dancing around my sublet when I find a dollar in a pair of jeans I haven’t worn in awhile…

In the meantime, though, that Korean restaurant down the street is looking de-LISH and I think that dishy Korean guy would be the perfect person to buy me dinner.

There are only a few weeks left of the Spring 2009 semester, so how are you going to spend your summer? If you’re like many poor students across the country, you’re going to waste at least the first month of summer vacay working (and sweating) your ass off in the grueling heat in order to pay off the debt you racked up this term.

This past weekend was the first summery weekend in New York (and the Tri-State area), and as I walked through Manhattan, giving my pasty arms their first taste of real sunshine in months, I was infinitely jealous of all of the people in shorts and flip flops sitting outside the restaurants and cafes, casually throwing back margaritas and nibbling on tapas. I immediately regretted all of the cabs I took this winter when it was too cold to walk a few blocks to the subway, splurging on expensive bar nights (and overpriced coat checks), and every other frivolous nickel I threw away, because this weekend, I could not afford a leisurely afternoon of day-drinking. I realized that if I could not afford this luxury, how would I afford a fantastic vacation this summer?

Well, it’s not too late to cut costs where it matters and save up the money to enjoy the weather this summer and make the most of your three months away from school. By cutting down on what you think are daily necessities, you’ll be surprised by how much you can save in a short period of time. Read More »

The economic crisis has not stretched my wallet to the breaking point just yet, but our intelligent President-elect does say that it’s going to get worse before it gets better, so I’m not about to dole out any more than I have to on holiday gifts this year.We all know the traditional ways of saving money on gifts (knitting scarves for everyone on your list, offering homemade coupons or baked goods in lieu of actual presents, etc.). But what if you do want to get actual gifts for people without going bankrupt? Try these hot tips to save some moola while doing your shopping.

Tip 1: Search/Clip Coupons

I ordered my dad $30 worth of merchandise from Land’s End the other day and almost had a heart attack when I saw that the shipping was $8. Let’s get real here—it does not cost $8 to send two turtlenecks via 7-day delivery. In my incensed state of rage, I went to Google and typed in “land’s end coupons”—and lo and behold, a page with a free shipping code on it popped up.

Deals like that are only a few clicks away, so make sure to search every time you buy something online. If you prefer to do your shopping in the flesh, cough up a few quarters for the Sunday paper and comb all the ads. You can clip coupons from there and learn about the hot sales going on near you. It takes extra time, but you’ll make up for it in extra money. Read More »

[I used to think I knew everything…until I found myself stranded in the middle of adulthood with no map and no one to guide me when I got lost. I have learned a lot since then - from how to balance a checkbook to how to sew on a button - and will share my wisdom with you.

Every Monday I will be back to teach you how to do something useful, even if it also happens to be completely random. Because, hey, you never know when you just might need to know how to change a tire…or mix a perfect martini.]

Even though winter will not even START for another two weeks (I know… I’m crying on the inside), those of us who don’t live in Hawaii are already freezing each time we step outside. As the proud owner of a circulation disorder that sucks all the blood out of my digits and basically never lets me be warm, I’ve collected some good tips over the years for staying toasty (like eating soup). And as it’s not always possible to have Mom looking over your shoulder telling you to put on a jacket, I’m happy to step into that role for now.

Tip 1: Hats and Mittens

You probably already know this from elementary school, but the vast majority of body heat is lost through the head. If it’s cold where you live, get yourself a cute hat and wear it often. It can be difficult to avoid the pitfalls of hat hair, but fudges such as earmuffs or thick headbands that cover the ears can help with that. One good thing about hats is that they’re generally small—you can stick it into your purse or bag and just take it out when you start to get chilly. Read More »