Welcome back for Part 2 of our money tips for college students 2 Part blog series. If you’re just joining us welcome and if you are returning for more after having read Part 1 welcome back. We have quite a bit more excellent financial advice for you today so let’s jump right in and get started shall we? Enjoy.

While these first few tips may not exactly save you money right away they are certainly worth keeping in mind because they will definitely save you money in the future. One of the first is that you should, at least for the most part, take good care of your health. Yes, we know that college includes frat parties and keggers but that should (hopefully) only occupy about 2% of your time. The rest of the time you should definitely make sure to eat right, brush your teeth and otherwise take care of your body because you’re going to need it for the next 50, 60 or 70 years. (The way science is going maybe even longer.)

Another way to save money is to go to class. Sorry to sound like your parents but, quite frankly, you’re at college to learn and if you skip class too often you’re going to fail classes which is going to cost you money when you inevitably have to retake those same classes a second time. Remember, it’s only in the movies that failing classes and public drunkenness are funny.

Speaking of drunkenness, you’d do well to at least limit the amount of beer, cigarettes and other, ahem, things that cost you money because, quite frankly, vice fueling stuff like this is quite expensive. We have no problem with going out once a week and having a good time and drinking a couple of beers with the gang (and whatever else you might want to indulge in) but if you overdo it you’re going to waste money and waste yourself.

When it comes to buying stuff a question that you should definitely ask yourself, especially if were talking about something that costs more than a couple of dollars, is simply; do I need this? If you think you do that’s fine but we suggest that you hold off on impulse buying and wait a week or two. If, at the end of that time period, you decide that you still need it then go ahead and make your purchase. Truth be told, in many cases you will probably change your mind and in some you might even forget about the purchase completely, a sure sign that you didn’t need it to begin with.

A good bit of advice and something that we would advise any adult to do whether in college or long since finished is to spend less than you earn. Sure, in college you are not making very much but if you can still manage to spend less than you earn you’re going to create a financial habit that will serve you well, well into adulthood. People that spend less than they earn are the same people that, generally speaking, are the most successful at saving for retirement and other important future costs.

If you can do it, starting your own business while you’re in college can be an excellent way to not only make a few extra bucks but to get an idea of what it takes to, well, start your own business. For example, if you have access to a small truck and a couple of your frat buddies you can help people move from one apartment to another. Are you great at making PowerPoint presentations? There is a huge
need for those by other students so why not set up a small side business making them? You can do the same with computers, car repairs and many other services and, if you are any good, word will spread and you may actually graduate college with a business already up and running. That would certainly put you ahead of the crowd don’t you agree?

While you’re in the learning mode you may also consider learning how to invest. Discount brokers like Sharebuilder are an excellent choice and for very small investments you can start learning how to trade.  In 10 years you will definitely look back and thank yourself for taking the time to do it.

That wraps it up for this 2-Part class on money tips for college students. We hope you enjoyed both parts and that, when you have a break between classes, you come back to join us again.  See you then.

With summer vacation just around the corner and many college students going back into the job market for a few months we decided it was a great time to put a blog together that would help college students better handle their money. The fact is, with just a little bit of advice and help, personal finance isn’t really that big of a mystery. With that in mind we put together a number of concepts, ideas and advice that we wish we had when we were in college. Enjoy

One of the biggest mistakes that young adults make is, when they finally get out from under mom and dad’s rule, they start spending on all of the things that they weren’t able to spend on before. New clothes, new gadgets and so forth. While this may be enjoyable for a time it can definitely set up a person to have money troubles in the future. Better to seek some financial advice and, if you’ve made the Dean’s list, treat yourself to something but don’t spend everything.

Joining a credit union is an excellent idea. Try to stay away from the ones that are giving away free T-shirts or Frisbees and instead find one in your town that has excellent services and fits your needs as a new saver.

Unless you absolutely, positively need one you might want to stay away from getting your own credit cardin at least for a while longer. A debit card is a much smarter idea and will allow you to have instant access to your money if you need it but won’t let you spend any more than you actually have in the bank.

If you are really keen on getting something, say a new laptop, Xbox or smart phone, you’ll be better off saving for it and paying for it with cash than putting it onto any sort of credit line that the store selling it to you will undoubtedly offer. Keep in mind that they don’t offer these credit lines out of the goodness of their heart but because they realize that most young people won’t pay it off directly and that they will make money in interest fees and possibly late payment fees as well.

Organization and planning will serve you well in the future so start organizing and planning now to keep your finances in order. Both are an important financial skill that you will use frequently as an adult. If you have Quicken on your computer you should also track your spending to make sure that you don’t overdraw any of your bank or credit card accounts (if you have them). This will also help you to see what your spending habits look like and, if they’re not so great, change them before they ruin you financially.

Very few successful adults don’t have a budget to guide them. If you want to be a successful adult as far as finances go you’ll thus obviously need a budget, even if it’s just a simple one. This will help you to not only keep track of your spending but see where your money is going and help you to save more of it than you thought you could.

You’ve probably seen mom and dad putting receipts into shoeboxes and, while this may seem a bit silly, it is actually a great way to keep track of not only what you are spending but also make sure that you are not being overcharged for purchases, even if by accident. Of course you don’t have to go ‘old school’ like mom and dad, especially with the plethora of receipt apps available for your smart phone. Get one of these apps and get rid of the shoeboxes.

As far as campus life is concerned here are a few quick tips on saving money that will help you.

• Buy used textbooks and, when you’re done with them, sell them back or sell them to another student.
• Skip going on spring break. Frankly, unless you can afford it it’s a huge expense and there are probably dozens of things that you can do around campus that will be just as much fun and much less costly.
• Keep your car at home. Unless you live home and commute to campus every day you really don’t need one on most American college campuses. Not having a car will save you a ton of money on gas, maintenance, parking, insurance and so forth. If you need to get around on campus use your feet, a bicycle or find a friend with a car and chip in for gas once and a while.
• Do you hang out with guys and girls who spend big bucks all the time? If you do, but you don’t have the same access to cash as they do, you’ll be more prone to spend your money and end up much more broke than they are.

We hope that this blog has been a valuable lesson in adult finances. (Yes, we know you’re sick of lessons but this one is important.) Anyway, do yourself a favor and use some of them to hold on to your money, get a handle on real-life finances and get a jumpstart on becoming a successful adult. In a few years, when you’re there, you can come back and thank us.

The number one way in which you can boost your credit score is to pay your bills on time, but there are numerous other ways to bump up your score as well, such as keeping your credit card balances low, checking for credit report errors, refraining from opening multiple credit cards at once, and avoiding bankruptcy.

Chloe Mulliner is a writer and editor for www.CreditSources.org, a credit related website that provides loan options for people with poor or no credit.

You’ve probably heard that a bad credit score could cause limitations when you apply for a credit card or take out a mortgage, but did you have any idea that it could be the reason why your dreamy blind date doesn’t ask for a second date? Or how about the fact that you could be paying higher insurance premiums just because of the low number on your credit score?

If this is all news to you, it’s worth checking out the following three reasons why it’s a good idea to build good, if not excellent, credit.

A Good Credit Score Could Lead to a Second Date

Credit scores are becoming a huge make it or break it factor in the dating world. So important in fact, some daters turn to online dating websites to find compatible matches with similar credit report values. These people in search of love have begun putting more emphasis on each other’s personal credit scores than the more traditional aspects such as religious or political views.

Finding a soulmate is difficult enough before involving your credit score, so why not focus on building your credit so you can worry less about your score and more about making a love connection?

A Good Credit Score Could Mean Lower Insurance Rates

A high credit score won’t only help you receive low insurance rates when you’re buying a house, but it could also benefit your auto insurance rates as well.

When it comes to auto insurance, the Insurance Information Institute found that consumers with low credit scores file 40 perfect more claims than those who have high credit scores. Because of this, those who have poor credit sometimes end up paying higher insurance premiums. Conversely, those who have good and excellent credit scores generally receive more favorable and lower premiums.

Long story short, build and maintain good credit, and in response, insurance companies will reward you.

A Good Credit Score Could Land You Your Dream Rental

Have you found your dream rental apartment overlooking the beach? Or have you stumbled across a quaint little country house looking for a suitable renter? Whether you’ve found your ideal rental property, or you’re still in the market, we hope you have good credit!

Good credit will come in handy if your landlords asks for your credit report to see your payment history. If you have a tendency to miss payments, the landlord might not want to approve your application for your dream rental.

Best way to receive those house keys? Work on building your credit or ask if the landlord will accept proof of other payment history such as your utilities bills.

The number one way in which you can boost your credit score is to pay your bills on time, but there are numerous other ways to bump up your score as well, such as keeping your credit card balances low, checking for credit report errors, refraining from opening multiple credit cards at once, and avoiding bankruptcy.

Chloe Mulliner is a writer and editor for www.creditsources.org, a credit related website that provides loan options and information for people with poor or no credit.

There are many, many reasons why people who are struggling financially move overseas. A new economy, new job, new friends and habits can equal a higher standard of living. Some of the most popular places for Britons to move include the Mediterranean, Caribbean and the USA, where attractively priced homes are bathed in sunshine.

But can you afford to emigrate?

People who earn enough to cover their monthly expenses and who also put some away towards savings, investments, pensions etc. seldom dream about ‘where the grass is greener’.

The prospect of moving is much more attractive to people who are scraping by, not quite deep in debt but not ahead of it either, and to those who are already sinking, whose savings are already long gone.

If meeting basic expenses is an uphill battle for you, setting up a home in a new country will seem impossible. There’s the cost of the flights, funds to tide you over until your first pay check, estate agents fees, visa fees, medical fees, new clothes for a different climate, rent bond, shipping costs and much more.

Make a change before you go

One of the scariest and for many, most exhilarating, things about moving to a new country is that you’re on your own with no safety net. It’s essential that you have enough money to get by until you’ve set up a secure life for yourself in your new country. Well in advance of departure, therefore, you need to do two essential things:

•             Increase your income: If it were easy, everyone would be doing it. If your current employment allows freelancing or part-time work, pick up some extra hours and put them in the bank. When you’re counting coins in a few months, you’ll be grateful for the hard graft now.

•             Reduce expenses: Downsize or initiate the selling of your property, cut back on eating out in restaurants and entertainment and stop any expenses that you can reasonably do without. Think twice before you stop insurance payments though!

Do the math

In some countries, you can expect to pay minimal health costs, while in others the costs are significant. In overcrowded cities like London you may pay a large portion of your income on transport and housing, while in places like Oman (where there are fewer income tax laws), you can keep virtually every penny you earn. Another tip for banking in Oman is to bank with a branch from home; some savings account might well have a limited access to funds, but banks such as HSBC can offer some unlimited access to funds, and even provide some debit cards with their savings account.

If you have a job or are looking for a job overseas, try to find out what your approximate income will be. Subtract your general living expenses from prospective income and compare it with your current budget. Don’t forget to consider the cost of the move itself and factor in a margin for unexpected costs. You may be surprised to find that you don’t have that much more to spare.

If you decide to take the plunge and move abroad, leave six months of more to get your affairs in order; that includes paying off debt, researching your international banking options, understanding the new tax system and moving your savings and investments.

It goes without saying that everybody is trying to make more money these days.  The problem however is not that people aren’t trying but that they don’t actually know how to handle money. In some cases have very little clue at all. That’s not a condemnation it’s just the way it is.

For the people who realize that they don’t have any money handling skills there is hope however as today we are presenting a blog on that very subject. Aren’t you lucky?! We’ve got for you today a dozen money rules that, if you use them and live by them, will help you in every facet of your financial life. Enjoy.

1)       Spend less money than you earn. If there was one rule that is more important than any other is this one. The person who can spend less than they earn is the person that will always have money available when needed, will never run into financial problems such as bankruptcy and will have a nice nest egg set aside for themselves once they reach retirement.

2)       Start saving right now. Any way that you can, any place that is possible and using any tool that you have available start putting money away for emergency funds, for your child’s college education and for your retirement.

3)       Rather than waste time overthinking your investments just invest.

4)       No matter what it is that you’re purchasing try to avoid high interest debt at all costs.

5)       Talk to a money expert about money. Your banker, a successful friend or family member or anyone else who you can think of. We’re not necessarily saying that you should take this person’s advice, just that talking about money will open up your mind to new ideas that you might not have otherwise heard of.

6)       Stop trying to keep up with your neighbors and family. Be happy with what you have.

7)       Keep an eye on your financial progress but don’t go crazy overanalyzing it.

8)       Anything that you purchase, from a new plastic spoon to a multimillion dollar house, take good care of it will and maintain it well.

9)       When you can, do everything yourself. Of course there are limits to what you can actually do but there are many tasks that people pay someone to do that they could easily do themselves, some of which will save thousands of dollars.

10)    Make a plan on how you’re going to spend your money before you go to the store. (Any store.)

11)    If possible, do something that you feel true passion for and follow that rather than following the money. Usually what will happens is that the money follows you.

12)    Do something on a very regular basis to improve yourself. Learn a new language or a new skill.

If you can really take these 12 Money rules to heart and use them throughout your life we guarantee that by the time you retire you will be more than well prepared to live in a comfortable lifestyle.

If your financial situation isn’t what you’d call ‘optimal’ we have 10 ways that you can use to improve it starting ASAP so that, by the end of 2013, you’re in better financial shape.  Take a look, use them as you see fit and enjoy.

1. Decide what your big goals are and stick to them. Whether it’s a bigger portfolio, to be able to retire at 55 or to increase your retirement savings by 10% every year decide what you want to do and then get started doing it.  Brainstorm with your spouse or other family members if you need help.
2.  Automate your savings.  This is probably the most powerful thing you can do to increase your savings and net worth over time.  Directly depositing part if your pay into savings, and IRA or other vehicles to save will generate big rewards over the life of your career.
3. Get rid of junk mail and spend less on junk. That new gadget that you can’t live without.  We bet you can. Don’t get it and stash the money in savings instead.
4. Make a diary to keep track of your spending. Even doing this for just 2 weeks will open your eyes to some amazing facts about your spending habits and how you can change them.
5. Start eating more home cooked meals.  In fact, take a cooking course so that you can learn to cook fast, nutritious meals instead of eating out all the time because of the convenience factor, wasting money on fatty, salty foods.
6. Make an effort to use less gas, less electricity and less gasoline.  If you truly make a conscientious effort to do this the savings could equal hundreds over a year and thousands over a lifetime.
7. Ask the entire family for help with saving money, especially if your adult children are living at home with you.  If they have a roof over their head they should pay for that privilege, not just their parents.
8. Don’t obsess about the market.  If you have made good choices and your portfolio is diversified you should be able to weather the small daily ups and downs just fine.
9. Use the right credit card for you, don’t abuse it and always pay it off as fast as you can.  Of course make sure you pay the bills on time as well to avoid finance charges and other penalties.
10. Get rid of all your unused junk that’s collecting dust and stopping buying new unused junk as well.

Do all 10 of these things regularly and diligently and your financial situation will have nowhere to go but up.  Good luck and we’ll see you back here soon.

As if you needed another reason to aim high: Ambition makes you happier, says new research.

People who set themselves ambitious goals tend to be more satisfied than those with lower expectations, says a study published online in the Journal of Consumer Research.