tag:blogger.com,1999:blog-17661413467959400352024-02-08T00:53:52.796-05:00Money Smart StudentsInformation, tips and tricks to help young adults better handle their money as they head out on their own.TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.comBlogger82125tag:blogger.com,1999:blog-1766141346795940035.post-38836782242066709422014-11-23T18:10:00.000-05:002014-11-23T18:10:01.619-05:00Time to Ramp Up the Money SearchThe following infographic is getting TONS of attention and repins on Pinterest in the past week. Why? Because the timing is right - the information is relevant - and people are paying attention! Have a look for yourself. 'How to Get Free Money For College' is aimed mostly at our American friends because it talks a lot about FAFSA - but there are also some great general tips and sources included. Enjoy and spread it around!<br />
If it's a little too small to read you can go to my Pinterest page <a href="http://www.pinterest.com/pin/528750812470548162/" target="_blank">HERE</a> to have a better look.<br />
Cheers!<br />
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<br />TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-43869185699205873692014-10-16T20:48:00.000-04:002014-10-17T15:14:13.531-04:00Blatant Book Promotion!!Been away from this place for way too long, and getting some new posts written for the very near future. In the meantime - just wanted to give my book some shameless self-promotion!<br />
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'How To Be A Money Smart Student' is full of great money saving tips for students who have recently moved out on their own. It will also be a very valuable tool for that high school senior who is just finishing up and preparing for that next step out in the real world. Just following a few of the tips and tricks in the book will save students hundreds, if not thousands, of dollars throughout the course of their post-secondary education.<br />
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<span style="color: #38761d;">NOW</span> would be a great time to order the book from Amazon so you have it in plenty of time to put it in their Christmas stockings!! Just <span style="color: #38761d;">click on the book cover below</span> for instant access to the book on Amazon.com.<br />
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Cheers!!<br />
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<a href="http://www.amazon.com/gp/product/1470054027/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1470054027&linkCode=as2&tag=cakedecobook-20&linkId=3QLPIIG3FJTQCMGB"><img border="0" src="http://ws-na.amazon-adsystem.com/widgets/q?_encoding=UTF8&ASIN=1470054027&Format=_SL250_&ID=AsinImage&MarketPlace=US&ServiceVersion=20070822&WS=1&tag=cakedecobook-20" /></a><img alt="" border="0" src="http://ir-na.amazon-adsystem.com/e/ir?t=cakedecobook-20&l=as2&o=1&a=1470054027" height="1" style="border: none !important; margin: 0px !important;" width="1" />
TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-48140424707684042112014-09-10T23:31:00.000-04:002014-09-10T23:32:06.827-04:00Book Review - 25 Money Strategies Your Teacher Forgot to Tell You AboutHello Folks! It's been awhile but it's nice to have something to share with you which I hope will be helpful.<br />
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I have had the opportunity recently to be introduced to an author by the name of Richard Pan. A native of Latvia, Richard has a Master's in Education, speaks four languages and, most importantly for these purposes, has written a couple of books about money aimed at young people.<br />
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His most recent endeavor is entitled '<a href="http://www.amazon.com/gp/product/B00GTWM5D8/ref=as_li_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B00GTWM5D8&linkCode=as2&tag=richblog04-20&linkId=YL2SD2T2C6VMPBFO" target="_blank">25 Money Strategies Your Teacher Forgot to Tell You About</a>." I read it recently, and here's what I think....<br />
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I like the book. Now - right off the bat - remember Richard's native language is not English - keep that in mind as you read through the book. It's funny how a number of Richard's strategies (from half a world away) are very similar in nature to those in my own book...staying healthy to reduce health care expenses as one example. He does a good job of explaining all of his strategies in detail and offers some unique thoughts. My favorite quote is "Expensive 'stuff' doesn't make you cool - it makes you poor!" - buy your clothes at Thrift Shops!<br />
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I'm not sure how parents will react to the idea of young people staying at home as long as possible (at least age 25 or so) to save on expenses!! My 18 year old just moved out to go to college an hour away and the house is a whole lot quieter. The money saving logic behind the idea is great...but....<br />
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The strategy I like the most is 'Zero Dollar Day'. Pick one day a week where you force yourself to NOT spend any cash, or use debit or credit. Richard explains it in detail and it sounds like it would work. Read the book and give it a try.<br />
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Truthfully - I like any money book which gets young people thinking about how they spend their money and what they can do to spend less and save more. "25 Money Strategies Your Teacher Forgot to Tell You About" will do that. Check it out for yourself by clicking on the cover below. Cheers!<br />
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TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-50731465338706313842014-06-26T01:36:00.002-04:002014-06-26T01:36:49.712-04:00They Grow Up So Fast!!Just a very quick note to wish all the graduating seniors around the world a very warm congratulations on completing your educational career.<br />
I wish you all the best as you head out into the real world, or on to further education. I hope you survived financially and have a good base to work from as you begin life on your own.<br />
Cheers!!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-6394149070008150662014-01-15T16:19:00.000-05:002014-01-15T16:19:36.583-05:00How to Pay For College HQ Radio PodcastI am thrilled and honored to be this week's guest on the radio podcast at <a href="http://www.howtopayforcollegehq.com/">www.howtopayforcollegehq.com</a>. Celest Horton and I had a great conversation about student finances, the need for students to do lots of research well in advance of heading to college, and some great resources for both students and parents who are in the preparation stage.
The podcast can be heard on both itunes and Stitcher, and you can get to it directly from the HQ website as well.
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However, students and parents are facing an even bigger challenge: how much college actually costs. From tuition, to paying for books, living in the dorms, and getting a good meal plan, the costs add up quickly. And every year prices are rising. So what's a student to do?
One of the best things a student can do is be aware of the issues surrounding student loans and the debt crisis, and plan ahead. Check out this infographic from ConsolidatedCredit.org and <a href="http://www.consolidatedcredit.org" target="_blank">learn more about</a> the history of student debt in America, and the eye-opening financial realities for the coming years.
<a href="http://www.gryffin.com/wp-content/uploads/2013/07/Consolidated-Credit-update.jpg"><img src="http://www.gryffin.com/wp-content/uploads/2013/07/Consolidated-Credit-update.jpg" /></a>TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-22483201402426837952013-01-29T17:50:00.000-05:002013-01-29T17:50:05.591-05:00What Makes A Money Smart Student?So what is it that makes a Money Smart Student? I've been asked that question a few times. There are many other PF writers who have their own opinions, and I respect that. There are some who argue that doing the things I talk about on this blog don't make a difference. They say that saving a few bucks here and there takes all the fun out of living the college life and doesn't add up to much in the long run. I've already discussed the numbers in a previous post (Do The Small Things Really Matter?), so I won't belabour the point here. Being a Money Smart Student, or young adult, isn't just about saving money when you can by doing the little things. It's about having an overall knowledge of money matters, staying connected to your own finances, and having a plan for both during, and after, school.<br />
In this day and age, it is easier than ever to find out everything you need to know about money. How to make more money, how to spend less on anything and everything, how to save money, where to save your money...the list goes on and on. I will once again throw out there that the <a href="http://www.wisebread.com/" target="_blank">Wisebread</a> website is one of the best resources I've found when it comes to money. Not only do they have their own posts and information - they also maintain a list of the best PF blogs available. You can even search by different categories to find whatever specific money issue you need. It's a great place to start to get informed about handling your money. Having at least a basic understanding of finances will help you many times over in the long run.<br />
Along with having a general knowledge, it is even more important that you have an in-depth knowledge of your own finances. How much you have, how much you need, where it's going to come from, how you can bring in more - you <strong>MUST </strong>be constantly connected to your own personal finance situation. Losing touch was one of the main factors in my financial demise years ago. If I had stayed on top of my money I know I could have worked my way through the hard times and avoided the disaster which ended up taking place. This is, in my humble opinion, the most important aspect of being a Money Smart Student. Know your own financial situation better than anything else. If you know where you stand, you can handle the hiccups along the way much easier.<br />
Finally - have a plan. Don't wait until the end of the current school year to plan for next year. Get your FAFSA paperwork done early if you are an American student. Don't leave it until the last minute. As you near the end of your education, start planning for life after college. As you enter the workforce, what is your plan to save some money for when you have a family? Thinking a step or two ahead of wherever you are at the moment will make it easier to adjust things along the way.<br />
I don't want this to sound too preachy. I just want you to understand that it takes a bit of work to be completely Money Smart. Knowledge is power, as the saying goes. Educate yourself about money, push yourself to stay connected to your financial status, and think ahead. These are the building blocks to being Money Smart - not just as a student, but throughout your entire life. Cheers!<br />
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What steps are you taking to stay 'Money Smart'? What else do you feel is important for students, or young adults, to know about finances? I would love to have your comments.TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-21745398400728730382013-01-28T16:07:00.000-05:002013-01-28T16:07:15.835-05:00Ready For The Big Game!For those of you who have been living under a rock for the past few weeks - the Super Bowl is being held this coming Sunday in New Orleans. It's the annual super-party as people cheer for a team they usually could care less about during the regular NFL season - but you have to pick one team or why bother watching.<br />
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As a student - or young adult - preparing for the game, there are a few things to keep in mind so you don't blow the budget for one half-day of partying. The best bet is to organize a bunch of friends, find the one with the biggest television, and have a Super Bowl house party. Everyone can bring their own booze (if you are of legal drinking age of course), figure out who's bringing what for snacks and food, and you can get some good Dollar Store decorations to give it a real party atmosphere. Make sure somebody is going to be the deisgnated driver so everyone gets home safely - or make sure the phone number for the cab company is handy. Having a house party is a great way to enjoy the game, enjoy the company of friends, and not pay outlandish prices for food and drink at a bar or restaurant. It's always at gatherings like these that something happens which will become the topic of conversation within your group for years to come..."Do you remember at the Super Bowl party when Bill......."!<br />
Millions of people will be enjoying the game from the comfort of their own homes - or at somebody else's home. Have fun! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-55653473543826317512013-01-23T22:04:00.000-05:002013-01-23T22:04:33.570-05:00Starting From Scratch!With 2013 well underway, I thought it was time to really get moving when it comes to this blog and the entire Money Smart Student programme. To get things started - I'm going to start at the beginning. Why am I doing a student money blog? What makes me think people will want to listen to what I have to say? Where do I see things going down the road? Questions I'm sure every one of you have had...right?!<br />
The idea for this programme came to me almost four years ago now. I was actually doing research on personal finance for my own benefit. You see - I used to be an abolute disaster when it came to handling my money. So much so that it eventually led to bankruptcy and the destruction of my, and my wife's, credit bureau. I'm happy to say that all the bankruptcy stuff is now off the bureaus and we have done a great job, together with a very caring Credit Union Manager, in rebuilding our credit scores. So I was looking for some good advice to move forward with our money handling when I found out some very interesting information. Some of the experts were blaming the housing bubble burst in the United States on an uneducated population. Not uneducated in general - but specifically - financially. Some said that if the 30 and 40 year olds had actually known how to take care of their money, stayed away from high ratio mortgages, and done more to keep their spending in check, a lot of the problems faced by millions of people could have been largely avoided.<br />
So this led me to the question - If it was too late to stop the 'Me' generation from crashing and burning, what is going on now to keep today's students from falling into the same traps? The answer, unfortunately, is 'not much'. The good news is many entities recognize that personal financial education is more important now than ever before. As an example - financial education has just recently been added to the curriculum in all elementary and secondary schools in the province of Ontario, Canada. Many universities make a half-day personal finance awareness session a mandatory part of their orientation week. The bad news is that there is still a huge gap in the need and desire of students to learn how to handle their money - and the ability of parents and educators to present the information in useful and understood ways. I quoted a survey in the first <br />
chapter of my book which shows most parents don't feel qualfiied to give <strong>their own</strong> children financial advice.<br />
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That's where the idea for Money Smart Students came from. A desire to try and help fill the void in PF information students need versus what they are receiving. I entered this knowing that I didn't know all the answers. I try along the way to pass on things that I have learned, resources that I've found, and anything else I hope will help even a small handful of students be better prepared for life on their own.<br />
Last year I learned a great deal about this whole blogging business. Attending the Canadian Personal Finance Conference allowed me to connect with some of the best in the PF blogging world. I am actually working on switching this entire website over to a Wordpress based blog - but the learning curve is steep so give me a little time to get that done. I work a full-time nights job in the gaming industry (so I sleep the better part of each day away), and I have three teenaged boys and a wife who require my attention, but I make the commitment right now to you, my readers, that I will be posting more often and more regularly in 2013. I have some ideas on where to focus, and how to mix things up a little. I will be working hard at growing our small Facebook comunity into a bigger one and will be utilizing Twitter and LinkedIn much better to try and expand the reach of the Money Smart Student programme.<br />
My hope is that you will come away from reading each post with at least one little piece of useful information to help you be Money Smart - Student or not. Until next time - Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-19121227595339424142013-01-03T20:22:00.000-05:002013-01-03T20:22:40.280-05:00A Letter To My SonHey Buddy! -<br />
Well - you're 17 and now that the hustle and bustle of the Christmas season is over I thought I'd send you this note. It's not about the birds and the bees - I promise! But it is a few thoughts for you in one specific area of your life - money.<br />
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I hope, first and foremost, that you know that no matter how much I bug you about your finances, I'm doing it with love and concern that you don't head down the same path I did when I was younger. I can't tell you enough how being in control of your money will make the rest of your life so much easier. You'll be able to go places, see and do things, and eventually take your family anywhere your heart desires. We've done pretty well as a family so far - but there is so much more I know we could have done had the money been set aside in the first place.<br />
Regardless of what you decide to do after high school, don't mortgage the next 15 years of your life to pay for it. If you have to work for a year or so to save up some extra cash - then do it. You can - gulp - live at home, as long as you need, so you can start off on the right foot when you do eventually head out on your own. Your Mom and I will put up with a few more years of your messy room to make sure you can financially handle life on your own when it happens.<br />
I understand there's a young lady in the picture right now. Great! That <em>other</em> talk happened a long time ago so I have no worries there - sort of. As much as you might be tempted to buy her affection, or anyone else's in the future, know that being a gentleman, paying for her dinner and movie ticket, and just being yourself is the surest way to find out if she likes you for who you are - not what you can give her. Don't get me wrong - a really nice birthday, Christmas or whatever gift can never hurt a relationship. Just make sure you plan ahead, save the money and listen to her to get ideas of what she might want or need. You will find out through experience that it's not always the biggest gift that wins her heart - but the thoughtful gifts that show you actually know what she likes and needs.<br />
I could go on and on about money stuff like this - I do this on the internet, and wrote a book, you know!! But for now I just want to say that I will always be there for any questions you might have about money. If I don't know the answers, we will find them out together. You have so many opportunities in the years ahead. Be smart with your money and the world can be yours!<br />
Love - DadTheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-21680927634646886922012-12-21T02:03:00.000-05:002012-12-21T02:03:42.625-05:00Season's Greetings!!I would just like to take this opportunity to wish all my readers all the best for the Holiday Season.<br />
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No matter how you celebrate, I hope everyone enjoys the company of family and good friends.<br />
Merry Christmas from my house to yours! Cheers!<br />
TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-92046912495881947292012-12-05T13:11:00.000-05:002012-12-05T13:11:01.364-05:00Countdown To Christmas Break!As we head into the first week of December, students are heading into the last couple of weeks before they get their first major break of the school year - Christmas Break. Along with all the smart thing students should do financially when it comes to buying gifts, there are some general housekeeping items you should keep in mind.<br />
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First - are you going to be travelling home for the holidays? How are you travelling? Carpool, flying, bus - getting picked up by parents? If you plan on driving yourself - why not put up a posting at school to see if anyone living near you could use a ride home. It will give you some company on the drive and can help defray the cost of gas. <br />
When you do go home - and all your roomates are gone as well - do the usual things such as unplugging ALL electronics. You'll be gone a minimum of two weeks, if not more. Not having electronic items using energy when nobody is home could save you a little bit on your December electricity bill. I know, I know - frugal this and frugal that!! Trust me, it all adds up in the end.<br />
This is one most people overlook. Your cell phone emergency address should be set to your college address while you are at school. That way if you call 911 the proper address shows up. If you travel home for a couple of weeks or more, be sure to change your emergency address back to your parents home just in case something happens during the holidays. It shouldn't take much effort to contact your cell carrier and make the necessary adjustments. That way emergency personnel can more easily find your location in case of emergency.<br />
Finally, even though you are heading home for a much needed break, there is lots you can be doing while you are home. Foremost is researching and filling out online appplications for scholarships, bursaries and grants for students past their freshman year. It is currently prime time for scholarships and you don't want to waste a few weeks of precious time getting your applications out there. Spend an hour a day doing some legwork on the computer - maybe you'll end up making money over Christmas instead of just spending it!<br />
If you haven't had a chance - please head on over the <span style="background-color: yellow;"><a href="http://groceryalerts.ca/">GroceryAlerts.ca</a></span> for a great compilation Steven did in getting the 'Best Holiday Savings Tips' from some of Canada's top personal finance bloggers - yours truly included! Cheers!!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-31896498693518683672012-12-01T06:23:00.000-05:002012-12-01T06:23:59.399-05:00Holiday Tips From The BestAs we hit December and the big run up to the holidays - I am very honoured to have been asked to provide my 'Best Holiday Savings Tip' to the website GroceryAlerts.ca!<br />
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I invite you to <strong><a href="http://www.groceryalerts.ca/holiday-savings-tips-by-canadas-top-personal-finance-bloggers/" target="_blank">CLICK HERE</a></strong> - or below - to see what some of the top personal finance bloggers in Canada say about ways to make the Holidays a little less financially stressful.<br />
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I will have more on the subject in a soon to come post of my own. Cheers!<br />
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<span style="background-color: yellow; font-size: x-large;"><a href="http://www.groceryalerts.ca/holiday-savings-tips-by-canadas-top-personal-finance-bloggers/" target="_blank">Holiday Tips From the Best</a></span><br />
<span style="background-color: yellow; font-size: x-large;"><a href="http://www.groceryalerts.ca/holiday-savings-tips-by-canadas-top-personal-finance-bloggers/" target="_blank">on GroceryAlerts.ca</a></span>TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-85056127289504613702012-11-15T07:00:00.000-05:002012-11-15T07:00:15.197-05:00Blog For Financial Literacy Awareness Day!It is something you are literally going to think about every day of your entire adult life. Sometimes when you think about it your hands are going to start to sweat and your heart will race. It is going to be the source of most of your 'discussions' with your significant other. It is the leading cause of divorce in North America right now. Sounds like I could be talking about sex! In fact - most teenaged boys answer just that. Truthfully - all those statements refer to MONEY! We spend our time figuring out how to make more of it, and how to spend less of it. Sometimes we're successful at handling it - sometimes we are not!<br />
Today is 'Blog For Financial Literacy Day'. It's part of the overall Awareness Month going on throughout November here in Canada. I am happy to be taking part in posting today on the theme of 'My Best Tip'! A number of personal finance bloggers are taking part and if you check out my first post this month you'll see where you can find a list of everyone participating.<br />
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So what is my best tip when it comes to Financial Literacy Awareness? It is one of the words in the title - Awareness! I have written a couple of times here, and I will do it again right now, about the fact that being connected to your money and your overall financial situation is the most important thing to keep on your mind. Everything else - such as where to put your money, how to make your money grow, the best investments, the best credit cards (shudder) - is just part and parcel of the overall concept that you have to be aware of where you stand financially all the time.<br />
There are hundreds - no thousands - of websites all talking about Personal Finance. Many of them have great information on their specific area of expertise. They are easy to find and by using websites such as <a href="http://www.wisebread.com/" target="_blank">Wisebread.com,</a> you can find the best PF websites all listed and ranked in one place - making the information gathering that much easier. But all that information is useless if you don't get it set in your mind to actually take control of your financial life - and keep control of it at all times. Stay on top of your bills. Pay your debts automatically from your accounts. Sit down with your partner and have a discussion about money as often as you feel comfortable doing so - more often if it makes you uncomfortable. Make a plan and stick to it.<br />
Money can lead to a lot of good things in life. It can also lead to a lot of bad if it is handled improperly or allowed to rule your life instead of you ruling it. Make a vow to yourself, and your loved ones, that you will keep connected to your finances. In doing so, you will have a huge advantage over the majority of the population and you'll be ready for anything that is thrown your way.<br />
I hope we can continue the journey together. Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com3tag:blogger.com,1999:blog-1766141346795940035.post-56446355598857485382012-11-13T15:37:00.000-05:002012-11-13T15:37:37.697-05:00The Black Friday Freakout!It's coming! In less than two weeks the single day all shopaholics have circled in red on their calendars will hit us. It is, of course, Black Friday. Even for those of us who live in Canada, and are close enough to the border with our southern neighbours, Black Friday has taken on a life of it's own. I have co-workers who book the Thursday and Friday off (a year in advance) so they can stay in a motel in the U.S overnight on Thursday - shop their brains out on Friday - and bring back more stuff duty-free because they've stayed a 24 hour period. Wow!<br />
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So what are my thoughts on Black Friday? Truthfully - I have to say that I see it as a good opportunity to practice smart money thinking on everyone's part. If you see a store has something you really need, or a gift you plan on getting for someone for Christmas anyhow, at a really good price - go for it! But <strong>ONLY IF</strong> you can work it into your already pre-determined budget. Don't spend the electricity payment on that 42" LED-HD TV if it will set you back a month on your bills. Also - do not rack up the credit card because then you're just adding interest to the whole equation. But if you've got money saved, this may be a good chance to save a few dollars on already planned purchases.<br />
The key is to be smart about it. I hope everyone knows by now that stores will put just a few items on major price slash to get you in the door. Other items are then only slightly discounted or at regular price but 'labelled' as sale items with an inflated original price. Do your research between now and next Friday and figure out exactly what you are going to buy and stick to your list. It's the impulse items which end up breaking the bank as you walk around the store with your prized purchase already in the cart.<br />
The Black Friday Freakout doesn't have to end up putting you in dire financial straits heading into the holidays. Use it as a chance to set yourself up with a few gifts in the closet and a few dollars saved still in your bank account at the end of the day.TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-17260061949515668022012-11-09T16:34:00.000-05:002012-11-09T16:34:02.266-05:00Do The Small Things Really Matter?Are you a penny pincher? Do you find the best deals and pay the least amount possible for anything you buy? Are you connected to where your money is going every month and taking steps to hold on to as much as you can? If you answered 'Yes' to any, or all, of those questions, you are living a 'frugal' life. The problem is, some of the 'experts' are saying being frugal isn't enough to really change your financial situation. They tell you to focus instead on maximizing your income, getting better jobs which pay more, investing your money where it's going to give you a better return. (I always find that last one funny - considering most people reading personal finance advice blogs probably don't have the extra money available to actually invest in anything) I agree with the idea that you should work on those areas, when it's appropriate and feasible to do so in your life. But for college students, being 'frugal' and money smart is pretty much the only way to control your financial situation.<br />
Let's take a look at the numbers, shall we? I've given almost 100 useful tips and tricks in my book (which I promise not to plug - again - because you can click on the links on the side if you would like more information) (Wait - was that non-plug actually a plug in disguise?) which can save students money while they are away at school. Buying no-name groceries, partying at home, mass transit, etc. etc. - they all add up. Let's use a very, very conservative number and say that using a few of the tips together will save a student around $200 a month compared to what they would have spent otherwise. Students typically spend 8 months of the year away at school (Sept. through April). So a student could very easily save (8 months x $200/month) or $1600 over the course of one school year. Multiply that by a four year programme and that totals $6,400 in savings.<br />
I don't know about you - but over $6,000 in my pocket, or not borrowed, in a four year period is a pretty significant chunk of change. It's enough to potentially make a difference in how much a student needs to borrow,or even if they have to take out a loan at all. Since the average student winds up with @$25,000 in student loan debt - knocking that down to under $19,000 is a good start.<br />
Do the small things matter when it comes to being money smart? Absolutely!! When the only thing you can control is how much you pay out - being frugal and controlling your spending will go a long way to putting more money in your pocket - or less money in the hands of your lenders when you are done school and heading out into the real world. Stay smart - increase your PF IQ - the little things add up! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com1tag:blogger.com,1999:blog-1766141346795940035.post-36752066350137836332012-11-06T15:04:00.000-05:002012-11-06T15:04:47.921-05:00Scholarship Season Is In Full Swing!In today's post for Financial Literacy Awareness Month, I thought I would talk a little bit about something near and dear to every student's heart - or bank account - Scholarships!<br />
'Tis the season to ramp up the applications and really try to get every possible scholarship, bursary or grant that you can find. There are numerous scholarships which have their deadlines either this month or before Christmas, so it's important to find the ones with the soonest cutoffs and get moving on them first. <br />
I found a great article written today by my friend Jodi Okun. She is a professional Financial Aid Advisor. Her entire business is to help families get through the paperwork and preparations necessary to get financial aid for college. Jodi's article is entitled <a href="http://collegeadvisor.visibli.com/share/fY2SM6" target="_blank"><span style="background-color: yellow;">'10 Ways to Make Scholarship Sponsors Love You'</span></a>. It gives some terrific information to increase your odds of being awarded money to continue your education just for filling out some forms.<br />
I have a couple more resources available on the sidebar which will lead you straight to scholarship search sites - and Jodi has many links on her site as well for you to check out. Don't delay! Now is the time to get those scholarship apps in the mail - or the email! Your bank account will thank you in the end. Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-31959478407805760592012-11-06T05:28:00.000-05:002012-11-06T05:28:13.237-05:00Election Day!Just a really quick note this morning to wish all my American readers well as they head to the polls today. It's a tough choice for some - others know exactly who they are voting for, or even knew months ago. As my late Mother used to say to me, 'Vote in every election you get the opportunity to vote in. If you don't vote you don't have the right to complain about whatever happens after election day!' May you all have nice weather to wait in and short lines at the polling stations! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-53019217302700116832012-11-05T15:39:00.000-05:002012-11-05T15:39:40.705-05:00Do We Really Need an Entire Awareness Month?As you may already know - especially if you've dropped in here in the past week or so - November is Canadian Financial Literacy Awareness Month. A chance for all of us Personal Finance type people to spread our vast knowledge about money to the masses gathered around their computer screens, or tablets, or whatever other device. But do we really need an entire month dedicated to enlightening each other about Financial Literacy? In my humble opinion - Hell Yes!! In fact, I don't think a month is long enough. We need Financial Literacy Awareness Year - every year - for as long as we live our adult lives!<br />
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As I sit here writing this today - it is my birthday. Not just any birthday. One of those birthdays that ends in a 'O'! One of those birthdays which makes you sit down, or lay down in my case last night, and reflect on your life so far, the mistakes you've made, the successes you've had and where you think things are heading from this point forward. In my time of reflection I realized that many of the things I thought of in those areas in some way or another revolved around money. Maybe it was my lack of financial literacy when I thought about some failures and mistakes I had made. Maybe it was the extra money I came into when I thought about the progression of my career and where things are heading in that area of my life. Whichever reflection came to mind - there was a monetary aspect to almost each and every one. Even thinking about my kids had me reflecting on wishing I could have taken them more places but being unable to afford that luxury.<br />
That is why it is so important to spend your entire adult life being Financially Literate. Staying connected to your money is something I've been talking about here for awhile. Learning how to handle your money - where to invest it - the best ways to save it - the tools you can use to get the most out of the money you have - these are all things we need to stay aware of all the time. There are thousands of websites all dedicated to personal finance. Some good, some not so good, and some great. Take this opportunity to find a few that speak to you and connect with what you are dealing with right now in regards to money. The <a href="http://www.wisebread.com/" target="_blank">Wisebread</a> website listed in my favourites is a great place to start. They rank hundreds of PF websites and put them into categories so you can find one that has the information you need. Use that as a starting point for your own financial literacy.<br />
A month is not enough - make this Financial Literacy Awareness Life! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-85081048022171409972012-11-02T13:01:00.000-04:002012-11-02T13:32:45.496-04:00Another Great Site - For StudentsContinuing with the theme for Financial Literacy Awareness Month - I wanted to introduce the younger readers (and by 'younger' I mean those in their early 20's) to a great personal finance website. The site is called <a href="http://studenomics.com/">Studenomics.com</a>. The sub-title of the blog describes what readers can do if they read it - 'Kill Debt. Have More Money Now. Enjoy Life.' It is written by a young man by the name of Martin whom I had the pleasure of meeting recently at the Canadian Personal Finance Conference in Toronto. Martin is a very funny guy (both in person and in his writing) - and he's also very wise beyond his years when it comes to thoughts on personal finance. The combination of humour and wisdom comes through in his blog in some great posts which will have you laughing one second and taking notes the next.<br />
Studenomics was recently selected the best PF blog for young people at the Plutus Awards handed out at FinCon12 in Denver. Martin does a great job of supplying his readers with useful tools while making it fun to read at the same time. Go ahead and click on over to take a look! Cheers!<br />
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<span style="font-size: x-large;"><a href="http://studenomics.com/">Studenomics.com</a></span>TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-78304226117161258062012-11-01T13:19:00.001-04:002012-11-01T13:19:16.943-04:00An Online Financial Literacy CommunityI'd like to begin Financial Literacy Awareness Month by introducing you to a very useful resource available online. There are numerous places on the internet where you can get your questions answered about personal finance. One that I have recently found, which runs the gamut from saving and budgeting to investing, is the <a href="http://www.td.com/to-our-customers/tdhelps" target="_blank">TD Helps forum</a>. It's hosted by the TD Bank - but that's where the branding ends. None of the information is given with a sales pitch trying to get you to buy TD products or services. It is strictly a forum for Canadians to ask their money questions and get straight up answers from people who know what they are talking about. Straight up - I'm not getting paid to endorse this site - I just think it can be added to all your other tools when it comes to being smart about your money.<br />
Here's a little blurb from the company regarding TD Helps...<br />
<em>A first among major banks, TD Bank Group has launched a community where people can ask the questions that are keeping them up at night and receive a tailored answer within hours, from an expert and sometimes from someone in the community who’s been there. No strings attached – just personal, expert advice available to anyone with a question. The <a href="http://www.td.com/to-our-customers/tdhelps" target="_blank">TD Helps</a> community</em><em> was originally launched in the spring as an online home financing advice forum. Canadians were so receptive to the “virtual face-to-face” interaction that it has expanded to include a broader range of financial advice, including investing and planning for retirement, saving and managing your money, and borrowing and managing credit. You won’t find a sales push anywhere on the site, the goal is simply to build a community that will help Canadians make better financial decisions. In addition to Canadians asking specific questions to experts who are on-call to answer questions, high-traffic to the site shows Canadians are visiting the forum and using it as a resource, asking for info and reading answers to questions others have submitted. To date, thousands of personal finance questions have been answered on TD Helps.</em><br />
Give it a look. See if any questions you might be thinking about have been answered. Some of the questions people have asked are specific to TD - but there are a lot of great answers to general financial questions broken down by category. I like the site as a reference tool - plain and simple.<br />
Happy November (WOW time flies!) and Happy Financial Literacy Awareness Month! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-43601021955583368572012-10-31T22:09:00.000-04:002012-10-31T22:26:57.568-04:00November is Financial Literacy Awareness Month!As we regroup here at Money Smart Students, what better way to get back into it than to focus on Canadian Financial Literacy Awareness Month throughout November. For the next four weeks I'll be providing information and links to resources which - though not necessarily all geared toward students - will come in very handy for people of all ages looking to take better control of their finances.<br />
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Then - on November 15th - I'll be joining with many other Canadian PF bloggers for a special 'Blog for Financial Literacy' day. We will all be posting about our one best financial tip. It should make for some very enlightening and informative reading. LifeInsuranceCanada.com, Myfindependenceday.com, and <a href="http://www.canadiancapitalist.com/">Canadian Capitalist</a> will all be listing the participating blogs. I am happy to be taking part and look forward to all the great information to come for my own educational purposes as well.<br />
If you have any specific area of personal finance you would like me to touch on this month, by all means please leave a comment and I'll do what I can. If I can't answer your question - I will connect with one of my PF blogging friends who can!<br />
Finally - just because it's <u>Canadian</u> Financial Literacy Month, I will make sure to post links and articles which can be useful to readers on both sides of the border. I hope you will use the next 30 days to increase your PF IQ! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-61857895281547115422012-10-03T15:42:00.000-04:002012-10-03T15:42:00.348-04:00Obama versus Romney - The Not-So-Great DebateAlright - I'm a Canadian - so why would I bother writing about the presidential debate tonight in the United States? The answer is that 90% of the readers of this website are from the U.S. President Obama and Mitt Romney will be debating domestic policy tonight - and I bet the subject of students comes up at least once or twice.<br />
From what I can see from my vantage point just across the border - Barack Obama is the better choice when it comes to policies and ideas for helping students get through these days of skyrocketing tuition and skyrocketing student debt. Heck - Romney said a couple of weeks ago a good strategy for students to help pay for college was to go ask your parents for the money! Really!?<br />
I may, or may not, watch the debate tonight. It will probably be the only one that touches on the subject of education. I can't wait to see what they each say and what students and parents think about what they said. Let the games begin! Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-16401742637427699112012-10-02T18:27:00.001-04:002012-10-02T18:27:51.508-04:00Why Are You Going To College?A new month has dawned. With it, October brings the beginning of the research and application process for millions of highschool seniors preparing for post-secondary education. Believe it or not - there are hundreds of scholarships which have deadlines <u>this month</u>, but we'll talk about that at a slightly later date. The biggest decision students need to make right now is, 'What am I going to study at college?'. I think the more important question is actually, 'Why am I going to college at all?'.<br />
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With the spiralling costs associated with college, the decline in the number of well paying jobs in related fields for graduates (How many waiters do you know with a PhD?), and the overall lack of direction many of today's teens feel, is going to college right now really the best option for you? Are you going to spend thousands of dollars studying something which you might decide isn't what you really want to do for the rest of your life? Is there something else you could do for a year or two which will help you better define what your future goals are and the direction you want your professional life to take?<br />
My oldest son, a highschool senior, was born in September. That means he could realistically graduate from highschool and start his first month of college as a 17 year old! I love my son dearly - but I don't believe there is any way that a 17 year old boy can have a firm grasp on what he wants to do for the rest of his life. We've had lots of discussions about what he wants to do. There is a general sense of the field he wants to enter but nothing specific just yet. How do you justify spending the kind of money needed to go to college if you aren't sure what you are studying is what you want to be?<br />
A lack of direction has got to be a major contributing factor to the dropout rates at colleges and universities. Students get into their field of study and then realize they don't really want to pursue that area for the rest of their lives. Meanwhile, they've spent thousands of dollars on tuition, living expenses, etc - and for what? The realization that they are heading the wrong way. That's a steep price to pay for a wake-up call.<br />
Don't get me wrong with the theme of this post. I believe that a solid college education is the foundation that terrific careers and lives are built upon. However, I think the time has come for students, and parents, to really start looking at exactly where the <strong>teenager</strong> wants to head with their life - and decide if going right from highschool into college is the best overall option. Now I'm sure some will say there are studies that show actual enrolment drops off by x% every year a student waits to go to college. I understand that. However, if students and parents sit down early (as in the start of senior year early) and make a concise plan of what is going to happen and when, there is no reason a year or two delay in starting college should be the end of furthering their education. Delaying college can give students, and parents, time to save up some more money. It can give the student an opportunity to really think about what course of study they want to pursue. It can also give students extra time to investigate all the options available such as overseas studies. It just may save a few years, and thousands of dollars in expenses, when the student decides they are heading in the wrong direction.<br />
A college education can be a stepping stone to a terrific future - but do you really need to go right to college from highschool? That's a question only you can answer yourself!<br />
What are your thoughts on this subject? Did delaying the start of college help you to better understand where you wanted to go with your life? I would love to hear what you think!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0tag:blogger.com,1999:blog-1766141346795940035.post-29642578398097986012012-09-11T18:59:00.000-04:002012-09-11T18:59:01.209-04:00It's Grocery Shopping Time!If you are like most students in North America - this is your second full week away at school. This means that the food supplies you initially brought with you from home when you moved are starting to dwindle. This is probably the first chance you are going to have to go grocery shopping for yourself. So here's a few tips to help with that initial solo trip to the food store.<br />
Plan ahead - Make a list of meals you want to have in the coming week or two. Check to see what ingredients you have on hand and which ones you will need to buy. Prepare a detailed grocery list before heading to the store. Studies have proven that we spend more money on impulse buys at the grocery store when we don't have a list of specific items - and stick to it!<br />
Go generic - Almost all major grocery chains have their own 'store brand' of products to rival the 'name brands'. These no-name products are usually of equal quality to the big names - at a much cheaper price. You can save anywhere from 25-40% on many staples if you buy the store brand. They are always located right beside each other so comparing prices is very easy. Unless you are a brand name snob when it comes to your groceries and household paper supplies, go generic and save some dough!<br />
Don't go hungry - to the grocery store that is! It may be an old saying but it rings true. Don't go food shopping on an empty stomach. Studies prove you will buy more impulse items and bigger sizes of needed items if you go food shopping while hungry. Have lunch first if shopping on the weekend, or wait until after your dinner to shop for food on weekdays.<br />
Finally - Watch the screen - We all know mistakes happen. Combine human error with electronics at the checkout counter and it could cost you extra. Watch as items are scanned to be sure the proper price shows up - especially for sale items. If you use any coupons -save them until the end to be able to watch the discounts get rung through. It won't happen often - but a couple of bucks is a couple of bucks to a college student!<br />
These are just a few things to keep in mind as you embark on your first solo trip to the grocery store. Cheers!TheLeftyGolferhttp://www.blogger.com/profile/07298712281286047503noreply@blogger.com0