Taylor's Financial Blog
                                                  
May 31, 2008 4 Ways to Spend Less
These ideas are from the Bottom Line/Personal, interview with Jeff Yeager www.ultimatecheapskate.com
Try not to spend a single cent for one week.
Have buyer's remorse before you buy.
Make buying difficult - pay cash for everything.
Haggle over prices.
Remember a dollar saved = two dollars made - you know taxes & stuff.
Marc, Taylors Dad
May 29, 2008 Exercise, Be Rich
It may sound simple but 1 hour a day of exercise a day will make you richer, thousands a year, hundreds or thousands or more over a life time. Regular exercise will make you feel better, have more energy and give you more confidence. Regular exercise will make you happier, live longer, be more alert and eat better. All of these things will go along way toward helping you make more money every paycheck.
Walking, riding a bike, workout at home or the gym, treadmill, yoga, running count. Golf, working, gardening etc , do not count as exercise. One hour a day six or seven days a week. You can even do a half an hour in the morning and a half hour in the evening. If you think you don't have an hour a day your wrong. Very shortly the one hour spend exercising will pay you back many times over!
I walk. I walk 15,000 to 20,000 steps a day. My pedometer helps me keep track of my steps. What are you going to do?
Marc, Taylors dad
We should be taught not to wait for inspiration to start a thing. Action always generates inspiration. Inspiration seldom generates action. Frank Tibolt
May 21, 2008 A walk around town
Have you ever taken a walk through your town? It's a whole new perspective on where you live. Not only is it good exercise but you can enjoy the beautiful weather, save gas (which means saving money!) and enjoy the afternoon.
Take a walk and stop in a store you've never been to or pick a flower you've never seen. Here's another idea - bring your camera! Then you can document your adventure.
So call up your friends and go adventuring. I dare you.
Don't forget to count your pennies!
Taylor
May 19, 2008 An interesting concept
I was flipping through an Avon catalog the other day and at the very end there was a section titled "gifts for men" I thought that was pretty interesting so i flipped through the pages and saw what i consider one of the coolest inventions of all time.
It was a plastic container to put your change in. The cool part is that it counts the change for you as you put it in. So you always know how much spare change you have!
So here's my tip of the day. Save your change..even if you don't have a cool gadget like that. There will come a day when you check your wallet or purse and its empty. Dumping out a good change jar could yield a pretty good chunk of change. It's gotten me through a few broke weekends!
Don't forget to count your pennies!
Taylor
May 17, 2008 A weekend of fun for less $$
Today I thought i'd let you in on my plans for the next few days. Tonight I'll be contra dancing which i've written about before. For $10 you get to dance the night away for hours having fun, working out, and meeting new people. Its a great way to spend a saturday night. After that we'll probably hit up a diner..I'd estimate about $7. A great saturday night for under $20. Not to bad.
Sunday after church I'm going caving! A great activity at no cost! Were going to Tory's caves. Check them out online. So after I hike and cave and meet some bats we'll be pretty beat. Play some video games and watch a movie before crashing.
This coming week I'm going to 6 flags - which has never been more affordable! Check out your local dunkin donuts for discount passes..or if you go often invest in a season pass..pays for itself in just a few visits. Later in the week I'm meeting up with my highschool friends. A great way to spend a night. Cost: $0
That's all for today. Go have fun!
Don't forget to count your pennies.
Taylor
May 16, 2008 Summer is here!
Summer is here everyone! I could not be more excited. There's so many things I want to do. Hang with friends, go for walks, catch up on my reading, and make some money!
The summer job. It seems like thats all everyone is talking about right now. Where are you working? I work at Lakeside Christian Camp for 9 weeks. I've been going since i was young and could not think of a place I'd rather be. while I don't make as much as i could at some jobs, the other rewards make up for it. I start the fall semester with $1500. Not to bad.
Find a summer job that you can enjoy. I recommend looking for something related to your field of study. It will look great on your resume and put you ahead in the ultimate job search. Most importantly summer is a time for adventures. Work hard and play hard.
Don't forget to count your pennies!
Taylor
May 8, 2008 Follow Your Dreams - thought - concept- design- build - reality
If I can do it you can do it. I'm know little about computers and less about T shirts but I have made my mind up to have fun and make it happen. What are you going to make up your mind to do.
Check out About the Team & see a cool picture of Taylor and her brother Lee.
www.BlackEyedT.com
Taylors Dad, Marc
ps Don't forget to sign up for your free T!
May 4, 2008 Two Weeks
You can do anything for two weeks. For some students the effort for the last two weeks of school may be the difference between an A and a B and for others it may mean the difference between passing and failing a class. In either case why not prove it to yourself - you can do it! Failing should not be an option. Both the loss of time retaking the class (or another class) and the money lost can be saved by hitting the books non stop for the last two weeks.
Knowing there is a reward at the end will make it easier. It has to be something you would enjoy but not something outrages. How about a weekend camping, or a new pair of shoes or a new fishing pole or you decide.
Again you can do anything for two weeks. Don't give up, before you know it two weeks will be gone. Set a day by day plan and make it happen. The confidence to know you can do anything for two weeks will make a difference for the rest of your life.
If your not a student you will have many instances where two weeks or a month of intense effort can make a difference in your life. Often something done for 30 day it becomes a habit. Maybe a project at work, or eating right, stop smoking or exercising. Make a plan, let a friend know and enjoy the rewards.
Taylors dad, Marc
I am a great believer in luck, and I find the harder I work the more I have of it. Stephen Leacock
April 28, 2008 Gas $4 a Gallon
Get better gas millage by the end of the week and save some money. It simple. The question is will you do it this week. Change your oil. Change your air filter. Make sure your tires pressure is at the manufactured recommendations.
If you want to save a couple of bucks you can change your own air filter, even if your not a mechanic. Your local auto parts store will help you pick out the correct filter and it will take you 50 seconds to put it in.
Do one of your friends have a birthday coming up? Buy them an air filter. The gift worth several times the cost.
Taylors Dad, Marc
In about the same degree as you are helpful, you will be happy. Karl Reiland
April 20, 2008 Be The First To Know
Is there a subject where you would like to get the latest daily updates directly to your email. For Free! Maybe its a hobby, something related to work or a class you are taking. Just go to google alerts & sign up. I have 4 subjects (tee shirts, gorilla marketing, self storage and early retirement) that I get every day. Its fun! Try it.
If you want to try another great web site - better than google earth try www.maps.live.com Type in your home address and go to birds eye view and you will be surprised how great the photos are. You can even rotate them to see all sides of a building.
Taylors Dad, Marc
The distance doesn't matter; it is only the first step that is difficult. Marquise du Deffand
April 14, 2008 Cash For Your Art Designs
How about $150 for you artwork that you have already done or even your next project and you get to keep your art. We will get to print it on a Tee shirt. Taylor (and her family) are developing and on line tee shirt company. It take a while to build a good web site so thing won't be ready until late summer - but if we can get a couple of good designs we will sell them on our new blog.
By the way each shirt will have a "go action theme" to go with the art work. for example:
go all the way go fishing go for love go text go design go hiking
go for it go dancing You name it - pretty much you can go o it.
Got an idea or questions email me: goodin4079@comcast.net
To summer & tee shirt weather,
Taylors Dad, Marc
No farmer ever plowed a field by turning it over in his mind. George Woodbury
April 13, 2008 Team Games
Here's a good idea I got from my roommate for a mid-week break. Organize a campus wide game. They play capture the flag but any large team game works.
Start a few weeks ahead getting people together. You can create a facebook group or put up signs or just spread it by word of mouth.
At the beginning of the week get together and create teams and rules. Not everyone who is playing has to be present for this.
At the time of the game meet at a common place with all the participants. Go over the teams and rules and blow the whistle!
This is a great way to meet new people, take a study break, get outside, and have some fun!
Email me with some great team games!
Until then Don't forget to count your pennies!
Taylor
April 12, 2008 Study Help Anyone?
The weather is beautiful and the sun is shining. Go outside and run around!! Despite all this beautiful weather and the countdowns to the end of the semester, grades are still important. I am about to reveal the most well kept secret of college.
Are you listening?
Colleges offer free tutors! Yeah that's right. A person to help you with any class anytime. They'll help you do your homework, study for tests, or just go over something you didn't understand. Even the best students use tutors. Matter of fact, most of the best students use them!
In addition to tutors there are often math labs and writing centers for your convenience. You can take a paper there and they'll not only edit it (how many grammar mistakes do you still make?) but also check for organization and clarity. That could easily be the difference between a B+ and an A-.
You (or your parents) are paying alot of money for your college education. Take advantage of all the opportunities and resources offered!
Keep counting your pennies!
Taylor
April 9, 2008 $100 Bucks for a Name!
Taylors Mom, Lori is building a brand new on line Tee shirt company for you. We have been unable to come up with a name that would inspire the college crowd - or at least resinate with you. One problem is the domain has to be availible. Most single word domains like Burn are taken. So the name may have to be made up, have intials or multiple words.
Send me your name idea and if we use it, we will send you $100. That simple. My email is goodin4079@comcast.net
Taylors Dad, Marc
To profit from good advice requires more wisdom than to give it. - John Colllins
April 6, 2008 Eight Basics For A Summer Job
1 Start Now! Apply for at least one job every other day. Thats 15 applications in the next 30 days.
2 Write a resume & have it reviewed at the student help center or career office.
3 Have a cover letter for any resumes sent in the mail. - Apply in person when ever possible.
4 Send a thank you letter for every interview you go to. Write the basic letter now & add the personal touch based upon the interview.
5 Call & email all friends and family members. The best jobs come from your contacts or your friends contacts. Don't forget ask you parents friends and your friends parents for help and ideas.
6 Make a list of jobs that will give you experience in your major.
7 Dress up - for any and all contact with a potential employer.
8 Remember experience in your field is more important then pay. The real pay comes when you graduate. The best jobs often go to graduates with experience.
To the future,
Taylors Dad, Marc
"I am looking for a lot of men who have an infinite capacity to not know what can't be done." Henry Ford
April 1, 2008 Spend Your Last Penny
Only kidding, April Fools ! Want to enjoy the daily bad habit even more. Here how. Lets say your daily money habit is coffee - lets say two med coffees for about $4- $5 a day. First ,only pay cash. Second every time you pay for the coffee put an equal amount in the retirement jar - no exceptions. Lastly once a week make a deposit into your money market fund. Just think how much better the coffee will taste!
Taylors Dad, Marc
We are rich only through what we give; and poor only through what we refuse and keep. Annie Swetchine
March 30, 2008 Cell Phone Savings
One bill that should be reviewed monthly is your cell phone. There are often several options to save money. Some savings can start today. Others may have to wait until you can change to another service provider.
The first step is to review your next phone bill in detail when it arrives. Often there are charges, even errors you are not even aware of that you can eliminated for savings. These can include monthly internet services, text message services, photo services, insurance or other services. Conversely if you don't have a text messaging program and are always sending text messages, a text message program is a must.
Most extreme costs are related to going over your allotted minutes. If you typically exceed the free minutes permitted by your plan you should ask your provider if another plan would save you money. You may be able to change your plan retroactively, rescinding charges from the previous month.
When your plan is up research the various service providers. The plans are always changing.
To lower bills,
Taylors Dad- Marc
I think the one lesson I have learned is that there is no substitute for paying attention - Diane Sawer
March 29, 2008 The Wilderness!
Here are my thoughts for the day: Go outside!
I may have written about going on adventures before but i have a few more ideas to add. Going on a hike is a great idea but go somewhere with sweet caves. It's so cool to be able to look over the edge of a cliff and then climb through natural made caves.
Here's another obvious but often overlooked idea. Look at the stars! I know it sounds corny but a few nights ago that's what i decided to do and I was amazed at what I saw. The big dipper and the little dipper were there and maybe even O'riens belt.
Where did I see these stars? Laying on a trampoline. I haven't been on a huge trampoline in years. Here's my advice: Find one today!
I hope this helps make your weekend a little more adventurous!
Don't forget to count your pennies.
Taylor
March 23, 2008 Deadlines
There are all kinds of dead lines in life. Missing them can cause all kinds of problems. Often missing certain dead lines will cost your big bucks.
One that is presently due is your (& your parents) FAFSA applications. Don't delay do it now.
Can you think of others? How about bills, dorm room deposit, class registration, looking for a summer job, insurance renewal, scholarship applications, dentist appointment, etc.
You have to find away not to miss these dead line. I simple have a calender where I keep all my dead lines written.
To being on time,
Taylors Dad
There are no shortcuts to any place worth going - Beverely Sills
March 18, 2008 Working Out
It's spring time, the season to start looking good right? Here's some tips on looking good without going broke.
If you're going to get a gym membership they can average around $20 a month. But if you get a family pass with maybe a sibling or a parent the price drops!
Another tip? Go online, to a magazine, or to a book and check out some of the work outs you can do at home.
It's time to put away those coats and bring out the flip flops!
Don't forget to count your pennies.
Taylor
March 17, 2008 It's That Time Again!
It's time to start filling out those scholarship applications. What better time to do it then spring break. I know I know this is our time to relax and have fun. Who wants to think about school and money. Think about it this way. If you can take 2 hours out of your spring break you can fill out at least 2 applications.
check this out. 7 days of spring break and 24 hours each day. That gives you 168 hours of break! 2 hours is nothing.
The best place to look for scholarships is at your former high school. Go to the guidance office and they can put you where you need to be.
Check out the scholarships Dunkin Donuts offers too. Nothing like a glazed donut and a $500 check.
Don't forget to count your pennies!
Taylor
March 16, 2008 7 Steps To Start A Successful Financial Future
1 Choose what you want to be an expert at now! ( you can always change your mind later ) Research and read about your field every day. Take a summer job in the field - even if you get paid very little or even if you don't get paid.
2 Start a knowledge notebook. Its the difference between reading and studying.
3 Set your goals now for the next week, next year and the next year ten years. Write them down! For most people success is always going to start tomorrow. - after I graduate, after I get a job, after I have a new car, after I get married, after we have a house, after the kids grow up - don't get stuck in the after trap. Planning prevents wandering and provides direction. Good planning is kind of like making interest on your time.
4 Find someone who is successful and ask them questions on a regular interval - at least monthly. Listen to the answers.
5 Have a successful attitude. People don't want to hear you problems. Start with the right answer to the every day question "how are you" - Terrific- Try answering the phone "glad you called" A positive attitude is determined by you not others.
6 Go to work. Hard work is easier than being bored or broke. Save at least a little every pay check.
7 You need to determine what the 7th step should be for you and write it down.
Your future is based upon today,
Taylors Dad
We may affirm absolutely that nothing great in the world has been accomplished without passion.
- George Hegel
March 14, 2008 Go Swimming!
Not only is swimming a good exercise, it's great to do with friends. You can go at a local college or to a Y. It's a great way to break out of the normal weekly activities..movies and dinner.
Here's the best part - It's free at most colleges!
Don't forget to count your pennies!
Taylor
March 11, 2008 Being Sick
Nothing is worse than having a fever and a cold together. Unfortunately thats pretty much how i spent my last week - sleeping. But on the upside I didn't spend any money!
This leads me to share an often overlooked tip about saving money. Are you ready?
Don't Spend It!
Who knew it could be that easy...
Don't forget to count your pennies!
TaylorMarch 2, 2008 The choice is yours.
Today we decided to go to the Home Show (had free tickets) instead of the casino. We enjoyed the day and saved hundreds. What choice are you going to make this week to save money?
To the right choices.
Taylors Dad
"If fifty million people say a foolish thing it is still a foolish thing." -Anatole France
February 28, 2008 A great way to waste a dollar
I payed $1 for a lottery ticket today. I lost. That 10 second thrill will probably always be one of my favorites though.
Subway sandwich $3 - not bad.
School Cafeteria? Free.
Guess where I'm headed.
Don't forget to count your pennies.
Taylor
February 25, 2008 Feeling good broke.
It's true everyone - I'm finally broke. I looked in my purse today and found a dollar bill. $1. I frowned for a few minutes and then realized i better plan my week accordingly. Which leads me to share with you one of my favorite things to do right before spring starts.
Go to Dairy Queen. There's nothing like going to Dairy Queen for the first time in the season when it's still cold outside. The best part? I can get my favorite - vanilla cone with rainbow shots for about $2.
In other words I'm off to search for forgotten change and an ice-cream.
Don't forget to count your pennies!
Taylor
Feb. 24. Whats up? you all have to much money?
We have only received one entry for the big money contest noted above. I know you can do better. E mail me for your sticker. See Feb 11 entry for info & entries.
To having some money,
Taylors Dad
Ten cheap fun things to do on this snowy winter day- now that school is canceled. Feb. 22
Spray Paint a Mural on the snow.
Go snow shoeing/hiking in the snow
Shovel your parents driveway or your neighbors driveway for free without being asked. I guarantee you’ll feel good.
Shovel your neighbor’s driveway for quick cash. The fun part will be spending the money tonight on the movies.
Stay in your PJ’s all day & watch all the old movies you have stacked in a draw someplace.
Bake an apple pie.
Invite a friend over for cards or monopoly.
Make strawberry or cheese fondue.
Write a hand written letter to a friend out of state.
Start a blog.
Think of something quick – before they day is gone!
Only 2 weeks to daylight savings time,
Taylors Dad
February 20, 2008 Haircut anyone?
Here's my tip today - get a hair cut at a place near your college. Yesterday my friend Heather and I got haircuts for $12.99! And here's the real exciting part: We liked them!
It only took about an hour for the two of us. AND my BlueChip card was accepted. My BlueChip card is what i can put money on for ccsu. I use it in the cafe and vending machines.
Doesn't get better than that. Well I can also use it at Dunkin Donuts!
Don't forget to count your pennies!
Taylor
Feb. 15, 2008 Love is in the air - $1000 Valentines dinner
Lee could have made reservation 6 months ago to the best restaurant in the state for Valentines day, but it would not have been as romantic or remembered for many years as last nights surprise.
Lee borrowed the key to the vacant house for sale and set up a special candle light dinner for his valentine, Tiffany.
Lee brought the table, pots & pans,food, flowers, candy, strawberries, chocolate and his cooking talents.
To making memories,
Taylors Dad
February 14, 2008 Study Abroad
A great opportunity awaits you! The best time to travel? While you're in college. Check out your study abroad office and look at all the great places you can go. If you travel through your school the cost is generally low. The tuition you pay normally applies and you just have to pay for air fare and living expenses. Pretty good deal to experience another culture for 4 months or even a year.
Not looking for something long term? Most colleges offer summer programs that last anywhere from 2 to 4 weeks and can earn you up to 6 credits! Look into it.
Don't forget to count your pennies.
TaylorFebruary 14, 2008 Movies through the mail!
A friend sent me a great tip for college students. Instead of going out to the movies and spending money on the movie, popcorn, and gas, you can sign up for blockbuster movies online or netflix. You can get movies mailed right to your school and theres no overdue fees! Check it out.
Don't forget to count your pennies!
Taylor
February 13, 2008 The Cost Effective Date
Dinner and a movie anyone? Well that could cost more than most college kids can afford. I figure the average movie ticket now is $10 and that's also the average meal at a decent restaurant, if you're lucky. So multiply that times 2 and that puts the total date cost at $40. not including gas.
 Make it more fun by dressing up real nice for taco bell!
Don't forget to count your pennies and share the love.
Taylor
Feb. 11, 2008 Need more cash sticker contest
Heres how it works. Get your sticker by e mailing me your e mail, name & address. If you have computer skills its ok to copy (& enlarge to 2" x 6") the sticker above. Stick it on the place of your choice and email a copy to marc@thebigwiki.com. Include you name, phone number & address.
Prizes to be awarded as follows:
$25 for the photo taken the farthest from Connecticut.
$25 for the photo taken with the largest number of people.
$50 for the best photo.
Taylors Dad will be the judge & his decisions are final. In your email you are welcome to tell us why we should choose your photo.
All photos must be received by April 30, 2008 - so hop to it. Prizes to be awarded the first week in April.
All photos become property of TheBIGWiki.com and maybe use for various marketing or promotions.
We will keep you updated as we receive the pictures.
Make it fun!
Taylors Dad.
Here are the photos to date - can you do better?
Lee at Bolton Lake (CT)
Brady and his master Chelsea 3/25/08
February 10, 2008 More Valentines!
It's time to break out the construction paper and glue! Making Valentines has always been my favorite thing to do. Unfortunately this time when i went searching in my dorm room for pink paper and red markers i was shocked - nothing! So Alyssa (my roommate from Bay Path) and I jumped in the car and drove to the art store.
Now this wasn't a normal art store - it was one of those hardcore art stores (any art students out there?!). We found the girl working and asked if they carried crayola. She looked at us funny and pointed to the kids aisle. A treasure chest is what we found!
50 Sheets of Colored Construction paper 12 x 18 - $3.50
24 pack of crayons - $1.50
3 pieces of pink, red, and more pink felt - $.90
That gives us a grand total of $5.90 and hours of sitting in my bed writing silly poems watching house.
Don't forget to count your pennies!
Taylor
Feb 8, 2008 Get ready for Valentine's Day!
Even if your girl friend (or boyfriend) said she doesn't want any thing for valentines day - beware, you better be prepared! The good news is you don't need to spend a lot of cash! In fact the less you spend the better. Hand made gifts (gifts from the heart) will be more romantic and appreciated more than gold and diamonds. I know, I've been married 30 years and we are still in love!
Set a goal to spend no more than $5 and make Feb. 14th unforgettable for your valentine.
Here are 20 ideas to get you started:
- Be the first one to say happy valentines days, email her at 12:01, text her at 12:02.
- Send a card in the mail - girls love stuff in the mail.
- Leave a card stuck to the outside of her door, fridge or car or some where she will find it first thing in the morning.
- Leave cards where she can find them all day long.
- Make your cards & make sure it has a special hand written note inside. If your not good at making cards buy a box of cards - you know - the kinds you gave out in 2nd grade school.
- Write a poem for your girl friend.
- Read a love poem written by someone else.
- Write a song.
- Print a photo or collage of photos with a special note.
- Buy one flower from the grocery store.
- Draw a sketch or do a painting.
- Make dinner. You can do it at the dorm, the apartment or at the parents anywhere is ok - mac & cheese is great -just as long as you make it light the candle & turn the lights down low.
- Suprize her at the end of a class & carry her books to the next class.
- Wrap a 75 cent box of valentine heart candies. The key is the wrapping.
- Give her something simple the day before and the day after valentines day.
- Make a poster size card & place it somewhere conspicuous where her friends will see it & tell her about it.
- Maybe you have a friend on the school paper who can sneak in a free love note in the paper.
- Change your phone message for the day - so everyone knows how special your girl friend is. Be creative. Of course remember not to answer your phone.
- Clean & wash her car when she is in class - or even your car.
- Let her pick the move.
- Give a sticker. people love their name in print. You can order a single sticker on line for less than $5. - or buy sticker paper & make you own on the computer.
Here is the key, this not like some exam where you can prepare the morning of. It will take a few days of planning and work to get this right - so start today.
These secrets are not just for valentines - they are true for anniversaries and other special occasions.
Make it count!
Taylors Dad
ps I love you Lori Will you be my valentine?
February 6, 2008 Books!
Order books off amazon. I paid nearly half the price for a used psych book and it's in literally perfect condition with the disk and everything. Unfortunately what Amazon doesnt tell you is it takes at least a week for the books to arrive so plan ahead or your dad will end up having to drive it to you the day you have homework due!
Speaking of parents, let your folks see this page - my dad read my entry about collecting change and dollars for gas and last weekend and this weekend he brought me a bag of change! Silver change. I added it to the change i save and let me say it adds up.
Don't forget to count your pennies!
Taylor
February 3, 2008 A Great Way To Spend Saturday Night!
Bored on saturday nights? Looking for something besides hanging out or going to the movies...I have a great idea. Contradancing! What the heck is that you might ask. A night of good times and lots of laughs. Think square dancing and a work out. Where? I went at the Branford Community Center in CT. If you live near there or even if you don't (we were about 45 minutes away) it's worth it. Saturday nights at 7:30 for only $10! It goes untill 11pm. Much better than sitting in the dark for 2 hours seeing a not so funny movie or sitting at home twiddling your thumbs. Don't live near Branford? Check out community centers in your area to see whats happening. You'd be surprised at the multitude of events to keep you busy for a low price - if any charge at all.
One last tip for filling the weekends. Get out and find the local bands in your area. Its a great way to meet new people, hear good music, and get off the couch. Here's a good place to start: http://www.myspace.com/thebeautyofct
Don't forget to count your pennies!
Taylor
February 2, 2008 How $300 can make you feel like a million bucks!
They say you should have 6 months salary in the bank. Most people don't. Most home owners would loose their house in three months, if they lost their Job. Lets face it, most people live pay check to pay check.
Having an extra three hundred dollar emergency fund can really make a real difference. First of all, you will feel much better when an emergency comes up and you are prepared. When your a student (or anyone living pay check to pay check) you would be amazed how many emergencies can be over come with $300. - such as the car repair, unexpected phone texting bill, insurance bills, etc.
The key is not to use the stash unless your facing a real emergency. If you have credit card bills or other bills your having trouble paying you need to reduce your debt. If you have no choice your better off using cash then credit cards and getting further in debt and paying more and more interest.
Start by keeping an extra $100 bucks in your checking account. It should not even show in the balance. This will act a your mini over draft protection.
Keep an extra $100 bucks in your savings account.
Keep an extra $100 bucks cash hid away.
If you can't manage $300 start each of the above 3 accounts with $30 or even $10 and then build them up.
Now if you have graduated ( or have a great Job) build each of the three accounts up to $500.
Just a quick thought - you may get you parents to pay for temporary tattoo - but your on your own for the real thing. Check out talylor's tat.
Best to all,
Taylors Dad
February 1, 2008 Woah Gas!
Gas money. Everyone hears that and groans. Unfortunately it's not a problem i can solve but i do have a few tips. First go to Massachussetts. Talk about cheap. In some places its .15 cents cheaper! So maybe thats not an option for you. Well here's a more practical one. Start a gas fund between all your friends. My friends often drive in the same car when were going somewhere. The easiest way to conserve money and gas is to keep a common fund that everyone can contribute too. Think about it. If you had 3 friends and everyone gave $5 a week that would be $20 a week for gas. Hey its a start.
Ride your bike to school. Walk to lunch. Run around in the rain.
My friend and I combined change and turned it in to coinstar. It got us a free pizza!
Don't forget to count your pennies!
Taylor
Jan. 25, 2008 It Takes Money to Make Money. Hogwash!
Of course money does make money. Check out the receipts below. A couple of weeks ago I sold 5 – 1 ounce gold bullion coins when gold was $904 an ounce. I bought the coins seven years ago in 2001 when gold was $274 an ounce. In seven years I made a return of 330%. Sounds easy but most people do not have the patients or money.
Someday your goal will be to make money from money. But now while you are in college you have a great opportunity to be broke. There is no better time to explore and follow: Your Passion. Your Interest. Your Dreams, Your Love, Your Hobbies, Your Own Business. What do you have to lose? You could gain a lifetime of fun, excitement and cash!
Take a chance and start your own thing! I am not talking about spending money. I am talking about sweet equity. Just think – profits of only $35 a day is over $1,000 a month! Need ideas read TBW blog or TBW Ideas Uses. Come up with a business project with a friend. Even if you don’t make money you will have fun and learn a of stuff that will come in handy for the next 50 years.
I know you still need that part time job to pay the bills. No problem. Do more. If a web page will help, I’ve made special arrangements for the first 10 college students, with an idea for a business, to get a BIGWiki thread page for only $25.(a $75 savings). All you have to do is e mail Taylor, and let her know you have a business idea and she will send you a special code for a &75 discount. All we ask is that you use the page! Need help let me know.
Take a chance, while you can afford to.
To fun and profits,
Taylor’s Dad
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Jan 19, 2008 Be a Millionaire before you Graduate – Roth IRA
Think twice before you go about your day and ignore this opportunity. Don’t use the" I’m a college student just getting by excuse" or "Retirement is too far off" excuse. But first, congrats on being a broke college student.
First the why.
So here is the simple truth. Most people work their entire lives tying to reach the millionaire status and never make it. So find a way to be different. College is all about the preparing the future. Financial security will allow you to major on the many important things in life.
Next the how,
Uncle Sam wants you to take of yourself. The government has created a retirement savings plan called the Roth IRA (individual retirement plan). You can save up to $5,000 a year in a Roth IRA. You have to have an income of at least the amount you invest in a Roth. The money grows tax free. If you invest $5,000 each year for four years while going to school you will have over $1,500,000, yes over 1.5 million dollars when you turn 65.
This is based upon a 10% return and 43 years of compound interest after college, with no further investments after college. Just imagine what it would be if you added $5,000 each year till retirement. Why be like everyone else and wait till 65 to retire? It’s all about compound interest!
Lastly the plan,
While you have to have income to match the amount contributed to your Roth, the money can come from a variety of sources. Your parents, your grandparents, savings or even a loan.
If you have the money enough money in your savings its easy, a done deal. But I bet this is not the case. So Plan B, your parents.
If you have not needed loans to pay for school consider yourself lucky and send your parents a card today thanking them for all they do. If this is the case you can take out a Stafford each year. Stafford loans are non-qualifying loan from Uncle Sam that does not require any repayment until after graduation. Get your parent support first. While I am presently paying for college for my two kids, I insisted they each take out the Stafford loan so they would “feel the pain” with me and better understand the value and importance of passing every class and graduating sooner rather than later. I took the money that I would otherwise paid the college and put it in a Roth IRA each year.
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Maybe your grand parents would contribute toward your Roth IRA in lieu of birthday and Christmas gifts? You can even contribute 10 bucks a week from your paycheck. Use your negotiating skills and imagination.
Even if you cannot invest the full permitted amount, it’s worth it to get started with any amount. In addition to the retirement jackpot it will help learn more about the stock market and investing that will pay off forever
One last note on compound interest. Think about taking care of your kids and kids, kids retirement when they are born. If you (or your folks) did a one time investment in the stock market that earns 10% interest when your child is born it would grow to over $3 million dollars by the time they are 65 years are old. Presto – retirement taken care of the day they were born!
Take some time to learn more about Roth IRA’s. I recommend you make an appointment with your local Edward Jones Stock brokers next week – and get more facts - before you e-mail this blog to your parents and grandparents.
It’s more about how much time your money is invested than how much is invested.
See ya next weekend!
Taylor’s Dad.
Jan 12, 2008 Be Rich Be Happy Retire Early – No Credit Cards In College
Just say no. Credit cards are horrific financial drugs. There is no reason for a college student to have a credit card. Period. The banks and financial planners are liars. I cannot be more blunt. Just say no to drugs.
Every month Taylor gets credit card applications. She just got one today. I won’t mention who sent it, but they want to know “what’s in your wallet?” They obviously want to make sure it’s their paws. Wow, they will even approve you on line in as little as 60 seconds.
The fine print states that the interest rate is 19.8% and late payments incur a $39 fee. Another card application went into great detail how a credit card is “safer than carrying cash” and “ a live saver-saver when you go off to college and you suddenly need a dentist, a new battery, or a contact lens, etc. I beg to differ.
I’ve heard all the reasons why students need a credit card such as;
For purchases that won’t take cash such as on line purchases. Baloney simple use your master card debit card linked to your checking or savings account.
For an emergency. Baloney, again simple use your master card debit card linked to your checking account. I know, I know you are always down to your last dollar in your checking account. If it were a real emergency most college students would be better off having to check in with Mon & Dad. Most students only live an hour or two away from their folks. Then we would find out that nearly all emergencies are really wants not needs. If it was truly an emergency most parents could transfer money into their kids checking account in a couple of hours or less.
Parents here is an option instead of the emergency (or open ended cc), open a separate joint checking account with your college student, put in $500 dollars and give the master card, debit card to you son/daughter. Let them know it is your money and only to be used for a real emergency. Have the statement sent to you, so you kids know you are checking it every month.
Master card use helps build credit history. Double baloney. The average college student graduates with $20,000 in student loans and $3,000 in credit card loans. That means for e students (like my two kids) who don’t have a credit card, there is a student with $6,000 in credit card balance. Bad habits started in college can last a lifetime and derail the best intents. The average US citizen older than 35 spends 16% more than they make. There are much better ways to build a good credit history.
Students and everyone else are broke enough, without paying $30 to $50 every month in interest payments to master card. There are much better places for your hard earned money.
Just say no to financial Drugs!
Save your Dollars, till next weekend,
Taylor’s Dad.
January 11, 2008 Free Vacations!
The best kind of vacation is a free vacation. The best way to get a free vacation? Your parents. Going on vacation with your parents may seem dull at first but think of all the benefits.
Free meals. I mean real meals, not easy mac in the dorm microwave where dozens of students have spilled before you. Whether its a restaurant or a home cooked meal, eat until you can't eat anymore.
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Hey, If you're really good maybe they'll fly your boyfriend down too :)
Or maybe it's if he's really good...
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Shopping anyone? There's something about going on vacation that makes people want to shop. Plus, we're in college now, our parents actually miss us! I packed light for Florida this year and now I'm coming home with another wardrobe. That's saving money.
Going to the movies. It's $10.25 to see a movie at home. That's outrageous! And while going to the movies with your parents went out of style in middle school, it's definitely worth it this month. National Treasure, Juno, Alvin and the Chipmunks? All must sees. Take your mom, she'll love it.
Save your pennies.
T.
Here is how some of my college friends make money.
Kim wrote:
Here are some ideas from a college alumni,
1. Students can check the job posting list on campus, most are odd jobs and on a 1 time basis but whatever money you can get helps.
2. I used to clean houses in college, it was like having my own business.
3. Start your own business, my freshman year my rooomate and I had our own business. She used to cut guys hair and I would iron clothes. Most guys have no idea how to do this so I ironed button down shirts, slacks and sport coats.
4. Don't be lazy!! GO GET A JOB!!!!!! I worked 3 jobs one year while putting myself through school, it sucked but it's all about TIME MANAGEMENT! I suggest waitressing it gives you a whole new perspective on serving and dealing with people. Honestly, that's where I made most of my money!!
Courtney Newberg (Hartford, CT) wrote
at 11:45am on December 10th, 2007
if you really need money, go to a community college for a semester or two. that's what i'm doing now and i've bought myself a new car and don't have to worry about money... but if that's not an option get a job at a local pizza place or whatever may be around your campus.. try to get a job on campus if possible. when you're home on breaks go through your old clothes and other items and sell them to Plato's Closet. they pay pretty well. also, sell used video games or accessories to gamestop. but what really worked for me is when i kept track of what i was spending money on, it sounds lame but writing it down and actually seeing how much of your money is being wasted really helps!
also don't waste money on useless things... manage what you have and only spend on what you need.. (not a $200 purse etc.) ask for things you NEED for the holidays, not things you want
Chelsie Raiola (UConn) wrote
at 4:40am on December 10th, 2007
Get a job on campus! Attend the involvement fairs that your school offers and you'll be pleasantly surprised that many organizations on your campus offer paying jobs. (Most of which don't require much time or energy.)
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