[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?

Ok, before everyone gets up in arms about every generalization I just made, let me clarify: 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. Starving college students of the world, I bring you Money Matters: a Guide to Handling Your Income (or Lack Thereof).]

This week, I’d like to introduce you to a splendid gem called Free Student Checking. Now, normally, banks will hold your money for you, but they like to find sneaky ways to make a few bucks back themselves. Some checking accounts, for example, have a minimum balance that you always have to have in your account. If your balance goes below that minimum, you get a fine.

Yeah, that’s right. You have to PAY your BANK for being too poor to have any money in the account that consists entirely of your own money that you started out with in the first place. I understand credit card late fees– with credit, you’re spending money you don’t necessarily have– but a fine on your own money? That’s bullsh*t. Read More »

Mondays are always bad, especially after a weekend of heavy drinking (as if there are any others), but today is even worse. It’s bad. Very bad. Very, very bad.

Citigroup just announced that it will be buying Wachovia bank to save it from collapsing. Just like AIG. And WaMu. And every other FREAKING BANK IN THIS COUNTRY.

Seriously, are there any banks even left anymore?

I know that everyone is telling us not to freak out, that this is just a dip and that we will come back from it, but I am about ready to pull my money from the bank and invest it somewhere safe.

Like in denim. Or shoes. Or lots of new winter coats. Those greedy bastards on Wall Street won’t be able to take it from me there!

Unless you live in a cave, you know that things haven’t been going well for the United States during the past couple of weeks. Fannie Mae, Freddie Mac, Lehman Brothers and AIG crumbled under the weight of our own idiocy and greed (and are also being investigated by the FBI, yay!), Democrats and Republicans are harshly divided, no one can agree on Bush’s $700 billion bailout, and Washington Mutual was just sold off to JP Morgan.

Oh, also, an asteroid is probably going to come after us some point in the near future.

We here at CC agree that school work is of the utmost importance, so by no means should you blow off that 15-pager on the life cycle of the zebra fish in lieu of our national downward spiral, but perhaps you might want to pour yourself an extra glass of wine this weekend (or if you don’t drink, purchase a nice package of Oreo cookies) and force yourself to relax.

The media is doing its best to scare us, and yes, times are kinda sh*tty, but the best thing we can do as young people is educate ourselves on the issues currently effecting us, process them to the best of our ability, and then tell ourselves to remain calm.

You know what also helps? (find out after the jump) Read More »