College Stuff

College time is here, which for many freshmen means deciding what to bring and what to leave home.  There are countless lists of “college supplies” with check boxes to ensure you don’t forget something important.  But do you really need everything on those lists, and are there things NOT there you might need?  Dorm rooms are pretty small so deciding what to bring can be critically important.

When I first went to college my parents had to borrow their friends Suburban to fit all the stuff.  My mom and I went a little overboard following the lists, and honestly it was a little ridiculous.  When we got there to move in, it took the upper classmen three loads and I didn’t even end up taking everything.

Once I got unpacked I sent a few more boxes of stuff I deemed unnecessary back to the car.  Then again over Winter Break, several more boxes came home and unloaded the room further.   By senior year I was great at packing stuff and was down to one small carload of basics – but that first year I was clueless.

Based on my experiences I can tell you a few things that are really vital and what you can really leave at home without missing at all.

Necessities:

1. Shower shoes.  You don’t want to be showering in a public shower, especially with some of the stuff that goes on during the weekends, in your bare feet.  Trust me – this one is absolutely vital.
2. Tool Kit.  The first few months of college, the door on my cabinet broke off.  I called to get it repaired but Maintenance didn’t come for over a week.  Having a small tool kit with a screwdriver, and replacement screws, was vital while I waited for them.  You will want a medium sized flat head, and Phillips head screwdriver, a hammer, a few nails, a few medium screws, twine, and duct tape.  I was actually the only one on my hall with these items and they were all borrowed several times.
3. Silverware set, a plate, and a mug.  Yes – you will have entirely too much meal plan your freshman year, but there will still be times you don’t want “campus food” and will want to make something yourself.  Having silverware for one meal means you can eat and cook without having to worry about finding plastic stuff.  Even if all you do is microwave easy-mac having this will make your life much easier.
4. Tons of quarters.  We had a debit card type system with our ID cards, but even with that the card readers frequently broke down.  Having a roll of $10 in quarters made doing laundry much easier.
5. A desk light and a separate lamp.  At least at our school, and the schools in town I visited, dorm lights were terrible.  They were dim and often broken.  Make sure you have your own light so you can work if your roommate wants to sleep, and so you can see if the provided lights are truly awful the way ours were.

Don’t Need at All:

1. Bathrobe.  It’s more of a hassle to put it on, take it off, and worry about where to put it without getting it dirty, than it’s worth.  Just wrap up in a large towel and you’re fine.  I don’t think I wore my robe more than once.  Some people would go to class in them, so if you want to do that go ahead, but don’t bring just to wear to the shower.
2. Jewelry.  I brought most of my jewelry freshman year, and didn’t end up wearing most of it.  If you have a few pieces you wear all the time you should bring those – but don’t bring things you only might wear.  I ended up breaking my favorite bracelet in transport and am still bummed to this day.  And stuff you don’t wear just takes up space.
3. Every piece of clothing you own.  You really don’t have much closet space, and bringing all your clothes isn’t necessary.  After freshman year, I brought enough clothes for two weeks in each season.  Every two weeks I would do laundry and refresh my closet.  Any more than that and I would have been out of space and not have worn everything.  A few friends of mine would store extra clothes under the bed when they ran out of closet space, and then would forget about the clothes there and never wear them.  Be selective when packing and really bring your favorite, most versatile, stuff.
4. Iron.  Unless you are in ROTC and need freshly pressed clothes on a regular basis, you really won’t be ironing much.  And chances are you could find one if you needed to.  Our school would actually let you borrow irons and vacuum cleaners if you needed them.
5. Stuff you can buy yourself.  I brought a half a dozen light bulbs freshman year, which is totally overkill.  I could have gotten by with just one, or even none.  Don’t forget that you will be able to buy stuff there – either at a campus store or local Wal-Mart.  Stuff that you might need every few months, but not on a regular basis, should be bought not hauled across the state.

Is there anything you brought to school that you found totally vital?  Anything you brought once and said “never again?”

Thanks to Splling Buckets for the guest post. I’ll be guest posting over at Studenteconmics.  Thanks again for your patience.

Guest Post – College Stuff is a post from: LivingAlmostLarge Secret Word - Aquarius

Getting the BEST Debt Advice

When debt levels get too much to handle, it can be hard to ignore. If the worry of red letters, debt collectors or even bankruptcy is never too far away from your thoughts, then it is time that you look at how you can get the best debt advice.

Some people wait too long to seek debt advice as they feel afraid to speak to someone else about their financial situation. But there is no need to worry; the credit crunch has put a big financial squeeze on all of us, which is why the number of people who are seeking debt advice is increasing all the time.

So how can you be sure that you are getting the best debts advice? It is important that you make sure you do your research and these following tips should help you:

Searching the Internet: The amount of debt facts and figures can sometimes seem a little overwhelming, especially if you are not familiar with the information. But start slow. Type in your term in your favourite search engine and be sure to read more than just the first couple websites that pop up, this is the best way to ensure you are getting an holistic overview of the debt advice available.

Debt Advice Tip: Try to avoid the ‘Sponsored Listings’ which are usually the first links you see. The ones which appear underneath these listings often contain more in depth information.

Choose your Financial Solutions Company wisely: Another problem you may seek when trying to get the best debt advice is deciding which financial solutions company you need to speak to.

There are a number of different companies out there and each offer a slightly different service. One of the best tips is to try and speak with a company which offer an array of different debt solutions. After doing your research you should be familiar about what debt solutions there are and whether you think you would benefit from them.

By speaking to a company who offers a range of different financial solutions should mean that you are not forced into one debt solution which you are not totally happy with. Also look into additional benefits about being a customer with them, such as whether they can help with utility switching, do periodic reviews of your finances or can get you a new bank account.

Debt Advice Tip: You don’t have to go with the first company you call. It can sometimes be good to ring a couple and discuss your situation with them to ensure the debt advice you are getting is correct.

By following the above advice, you should be in an ideal position to get the best debt advice.

So check out Natalie’s Blog One Advice!

Guest Post – Natalie Cole is a post from: LivingAlmostLarge Secret Word - Aquarius

Safer Cars Means Lower Car Insurance

There are many common misconceptions when it comes to car insurance rates. Many people believe that more expensive cars will always cost more to insure than cheaper cars. They also believe that older cars are always cheaper to insure than newer cars, which is not always the case. Consumers base this assumption on the perceived value of the vehicle rather than the value given by a safer car to the insurance company. While the value of the vehicle that is insured as well as the age of the car are large parts of determining premium rates, they are not the only factors. We are finding a lot of cases where insurers actually charge less for newer cars for coverage as various features found on the cars allow for less expensive claims to be made and thus are less of a risk for the insurance company to insure.

Insurers are far more interested in the historical amount of insurance claims than the price of the cars. They keep very detailed historical statistics, not just on the driver, but on the type and make of cars. They also look at the car’s features, including anti-theft devices and safety features.

Tips To Find Cheaper Cars To Insure

1. Car thieves tend to target certain cars thus insurers have had to pay out more claims for theft in the past. But the common anti-theft devices which are included in newer cars will earn a discount. You can also find after market anti-theft devices to install in older cars.
2. New cars tend to follow the trend towards developing safer cars. Safety features minimize car insurance claims for damage, and for personal injury. We have seen insurers offer discounts of 30% for certain safety features.

A smart consumer will certainly consider the price of car insurance when they are figuring out how much they can afford to pay for a new car. In fact, many car shoppers are pleased to find that when they figure in lower maintenance bills and a break on car insurance, the shiny new car is not costing them any more than they have been paying to keep their old junker running and street legal.

A safer car will protect the driver and the passengers and thus lead towards a lower insurance cost.
With a new car purchase, if you are taking a loan, lenders require you to protect the investment with full coverage on the car rather than just liability. A safer car will also lower the rates of a liability plan but for the most part liability on older cars is lower than that of liability on a newer car. Liability premiums were until recently almost entirely based on standard insuring factors (age, accident history, etc), but now it should be noted that make and model are also taken into account.

Car insurers use different factors when they calculate car insurance premiums, though, so the only way to find the best deal for you or your family is to compare top rated auto insurers. While it is important to talk to local agents to ensure you are getting the best rate and to field any immediate questions, finding good online insurances quotes generally give very accurate rates as to what to expect for your insurance premium in a fraction of the time and should also be used in your decision.< >< ><–>

Guest Post – Safe Cars means Lower Insurance is a post from: LivingAlmostLarge Secret Word - Aquarius

Increase in delinquency rate has become a serious cause of concern. And in an effort to attain financial stability debtors are turning to debt relief options. However, the debt relief option that is suitable for you may not be what another debtor is looking for.

Debt consolidation can be a golden opportunity for you to manage debts in an effective manner and consequently your finances. You can consolidate your debts by taking a consolidation loan. Alternatively, you can approach a debt consolidation company to help you in getting out of debt. It is always better to enroll for a program. If you take a loan, it adds to your existing debt burden. So, it is important that you stay away from loans even if a particular offer seems to be very tempting.

Debt consolidation

The program you enroll for helps you in becoming debt free within a short time period but it doesn’t mean that all your debts are eliminated in a jiffy. There has to be a systematic approach. In debt consolidation, you get a new repayment plan and you are required to make payments as per the new plan. Debt consolidation program also enables you to make lower monthly payments as your interest rate is reduced to a considerable extent. As far as your credit rating is concerned, debt consolidation has a positive effect on your credit score. There are various other debt help options. Just as debt consolidation is a favorite option among debtors, debt settlement has also helped many to become debt free.

Debt settlement

If you have tried out debt consolidation and failed to get the desired results, try out debt settlement. In debt settlement, your outstanding balance is reduced. However, your credit rating gets affected in a negative manner as you stop making payments to the creditors directly and make payments into a trust account instead. Once you become regular with your payments again, your credit score starts improving. A good debt settlement company can help you by reducing your outstanding balance by about 40% to 60%.

Whether you get out of debt by consolidating your debts or by opting for debt settlement, financial stability is what you should be looking forward to.< >< >< >< ><–>

Guest Post – Debt Consolidation is a post from: LivingAlmostLarge Secret Word - Aquarius

Three Tips for Managing Your Credit While Hunting for a New Job

Jobs are disappearing at an accelerating pace in 2009. U.S. companies announced 663,000 layoffs in March.  The unemployment rate has jumped to 8.5 percent, the highest since 1983.  If you were one of those unfortunate enough to receive the pink slip, there are some immediate steps for you to consider as you embark on managing your new financial situation.

Tip One: Find out what credit’s available to you

First, you need to get a sense of the credit available to you.  Since it’s not uncommon for it to take 6-12 months to find a new job, especially with so many people looking, you’ll need to know what products can provide you options.  If you have a home, you should research the amount of equity you have in your home and consider opening a home equity line of credit.  No, this doesn’t mean living off of your house, but rather having access to money should the need arise.  A home equity line of credit is a form of revolving credit in which your home serves as collateral.

Also, be sure to read carefully through any pre-approvals you get in the mail for credit cards.  While unemployed, you’ll want to make sure any new credit cards you apply for don’t have annual fees or high APRs. These fees can really add up.

Tip Two:  Actively monitor your credit score

Next, you’re going to want to manage the credit you have.  Request a copy of your credit report from www.annualcreditreport.com.  You’re allowed to request one credit report per year from each credit bureau for free.  Be sure to review the full report and  make sure your bank accounts, any late payments, and all other information is listed correctly.   If something is wrong, report it immediately to the proper bureau. They are required to respond within 30 days.  Employers often peak at your credit report as a component of the consideration process.

You should also monitor your credit score.  Credit Karma (www.creditkarma.com) allows you to track and trend your credit score for free.  There are also tools available on the website to help you make those difficult decisions if necessary.  The Credit Simulator helps you accurately estimate the positive or negative impact of 14 different financial behaviors on your own personal credit score.  For example, it allows you to see the effect of paying one card 30 days late versus paying all cards 90 days late.

Tip Three: Use Personal Finance Tools

Lastly, it’s a good idea to start using a personal finance management tool.  There are several free ones out there including Quicken, Geezeo, and Wesabe.  These tools allow you to keep track of your bank accounts and loans in one place so you can easily see how much money you have , what you are spending it on, and what you owe.  Because these tools are connected to your bank account they also track your spending and help you budget. During these difficult times it’s important to cut back on the “nice to haves” and stick to purchasing “must haves.” Other positive features of these tools  include opportunities for you to get better deals in the financial marketplace (as these tools offer financial product suggestions based on your money transactions), and the ability to gauge your personal financial health by comparing your finances to the finances of others in a secure and anonymous fashion.

Guest Post – Managing Credit when Unemployed is a post from: LivingAlmostLarge Secret Word - Aquarius

Background, a female reader is wondering whether she should stay at home, work, or possible move now that she and her spouse are pregnant and expecting their first child in December.  Currently they live on the East Coast in a High Cost of Living Area.  Ideally they would like to move back to the West Coast to a lower cost of living area (me too).  They are 29 DW and 37 years old  DH respectively.  Because of the drop in the stock market they are currently reconsidering their relocation plans.

1. Income  – $100k DW = $8333/month
$130k DH = $10,800/month
$20k/yr – gifted from family
Total = $250k /yr gross

2. Retirement – Contribute $30k/year to 2 – 401ks, would contribute to Roth if qualified
- current balances $70k DW, $120k DH

3. Taxable Accounts – $210k, down 50% from 1 year ago despite adding $60k last year

4. Mortgage – $0, own farm valued at $75k

5. Average Monthly Expenses – $5k/month, $3k is just rent/utilities and $2k on extras like food, etc

6. Average Annual Savings – $30k 401k + $20k Family Gift + $45k taxable account = $95k savings/year

7. Projected Daycare – $2k/month (hey it’s a HCOLA)

8. Projected Mortgage – $350k-$400k home, current COLA is $750k for a SFH

9. Projected Income after move – $100k – $130k because, DW would likely stay at home

10.  Until last year the couple had around $400k in a taxable account and was looking at buying a home in  a LCOLA area for cash and thus having no mortgage when the baby came.  Of course they could not predict how long or when they would have a baby and have been trying for 2 years.  Thus with the 50% decrease in savings from the market, the DW is curious as to the best course of action now.

• Does it make sense to move after the baby is born after maternity leave?
• Or should we move in a few years after building up savings so the DW never has to work again?
• Or should we stay put and not have DW work at all?
• Or should we move and let DW work in a LCOLA?

A few issues are

• Don’t like the current area they live in
• No family and friends in the area, the relocation would be closer to family and friends
• But would prefer not to do daycare
• Is hesitant to use taxable account for a large down payment because of the recession, because house is not paid off, unlike previously
• DW is burnt out and would like to consider a career change.

So that’s the scenario, do they move, stay put, and should the DW give up her job or not.

Wow, that’s a lot of possibilities.  A lot of information to process as well.

So what do I think?  I think that they should relocate and rent a house so the DW can have flexibility with staying at home.  Then when they feel the DH’s job is secure and have scouted the area more thoroughly they can purchase a home.  I think they can actually do any of the scenarios without too much financial hurt.  I think that renting also gives them flexibility for one year in case the DW decides she doesn’t want to be a stay at home mom.

I am not sure if being in HCOLA that they don’t like without many friends and family would be good for a SAHM either.  But maybe I’m wrong.  Readers weigh in.

Reader Question – SAHM vs Working Mom is a post from: LivingAlmostLarge Secret Word - Aquarius

This week I was interviewed at FiLife, a financial website.  Please check out the interview here.

I also guest posted with Lazy Man and Money, with a post called Does Materialism Breed Unhappiness?  Check it out and weigh in.

Don’t forget my Rich Life Them Book Giveaway, please leave a comment for a chance to win. Also the 1 year subscription to Money Magazine Giveaway, you have to sign up for my RSS or Email Feed to win.

Guest Posts and Interview is a post from: LivingAlmostLarge Secret Word - Aquarius

Compare Prices Before Shopping

If you want to live large (and you probably wouldn’t visit this site if you didn’t want to live large) you must come up with as many ways as possible to save money. Internet has obviously made comparison shopping easier than ever and it’s a great way of making your earnings last longer. Nowadays you won’t have to visit hundreds of websites to compare what they’ll charge you for a certain product – no, save both time and money by taking advantage of the sites that are a specially designed to do all of the work for you. Online comparison shopping is the way of the future!

Comparison sites are perhaps nothing new on the Internet, but they have certainly increased in popularity these past few years and they are now bigger and more popular than ever before. Regardless of what it is that you intend to buy online, you can rest assured that you will be able to compare the price for it on a great number of excellent sites.

As mentioned it is possible to find pretty much any product online. For example, buying medical products online is becoming increasingly popular. On Drugstore.com you will be able to compare prices on products such as vitamins, beauty products, and prescription drugs. Or if you had a specific product in mind like contact lenses, you could use LensShopper.com Use these sites to save money on products that in the past would be only found in “offline” stores. However, these days there’s really no need to shop in a real-life store as they’re almost always more expensive.

Another great and immensely popular site for comparison shopping is PriceGrabber.com – a site where you can find cheap prices on anything from auto parts and books to clothes and gaming consoles. However, if you want to buy electronics online, you might also want to check out mySimon.com.

Simply visit the site of your preference and search for the product that you’re looking for and you’ll get a list of different retailers and their offers. Click whatever deal you find the most appealing and you’ll be redirected to this online retailer. All you have to do now is to fill in your personal information, pay for the products and wait for them to be delivered to your door.

As said, shopping online is not only easy – you will also be able to save a ton of money.

Thank you Martin for the great guest post.

Guest Post – Comparison Shopping is a post from: LivingAlmostLarge Secret Word - Aquarius

This interview is part of a new feature he’s developed called Subscriber Swap Saturday. The basic idea is to get the subscribers of one blog to subscribe to the other blog for at least a week, just to try it out. After a week if you don’t find that blogger’s content enticing, drop it. The hope is that over time you will find several writers that you weren’t familiar with who provide meaningful content to you. You can read more about Subscriber Swap Saturday at his blog, and you can read his interview with me here.

1. How did you get your name and what made you start blogging?

I really don’t understand why people spend more than they earn. Or why they don’t save any money for a rainy day. Or why they assume home prices always go up. Or why there isn’t much personal responsibility in any aspect of our culture, especially when it comes to finance.Just to name a few.

9. Where do you see yourself in 1, 5, and 10 years?

I starred in my high school’s production of Oklahoma! as Ali Hakim, the Persian Peddler.

I am most impressed by Kevin’s obvious musical and acting abilities!  I wonder if he’s ever done it again?  Head on over to No Debt Plan and check it out!  Thanks to Kevin for giving me the opportunity to reach out to more readers!

LAL

Subscriber Swap Saturday – No Debt Plan is a post from: LivingAlmostLarge Secret Word - Aquarius

Maclover makes a great living.  His wife is currently in residency and has a large earning power as well.  So what is the fight about?  Whether or not spending $500/month on clothes is outrageous?  Maclover would like his wife to cut back on her clothes shopping.  However, she refuses.  Yet he is unsure if he is being cheap or frugal.  Please vote after you have the details!

Income
$14k -17k/month gross.  Maclover’s income only, since his wife is still in residency

Expenses
Rent – $150/month (they live in her dad’s condo)
Cable/Utilities/Internet/Fixed Expenses – $1000/month
Spending – $2000/month – this includes $500/month clothing budget
= $3000/month approximately

Savings
Cash – $77k
Checking – $8k
Retirement – $47k

Debts
Student Loan 1 – $43k @ 5% = $400/month, but paying $700/month, Maclover’s
Student Loan 2 – $70k @ 3.8% = $388/month, Maclover’s
Student Loan 3 – $70k @ 6.8% = DW’s so deferred until done with residency

He approximately has an extra $2k/month after paying his two student loans.  This $2k has gone to building up his savings.  Maclover has a large income, and his goal this year is to make $18k/month.  His goals are to one day buy a home or start a practice.

Right now he wants his wife to stop spending $500/month on clothes.  Is this a reasonable request?  And if so, how should he make it?  She feels that it’s appropriate obviously because of their income.  Also how do you determine a reasonable amount to spend on clothes?  How should they budget spending when they have so much disposable income?  What is a reasonable compromise?

Can you be too frugal? is a post from: LivingAlmostLarge Secret Word - Aquarius