December 2008 Archives

Caroline

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I don't mean for my post title to sound negative. Most students and parents actually look forward to winter break  – especially that first year. Students want to eat some home cooking, sleep in their own room, and catch up with old friends. Parents can't wait to hang out with their kid and appreciate how he or she has grown up after a semester away.

But let's be honest — it's hard for college students and parents to live together again.

College students are notorious for staying out late, sleeping in, and leaving piles of dirty towels on the bathroom floor. Parents are notorious for thinking college kids should act like adults, but still have a curfew.

Eventually, it becomes a problem.

The fact is, you both have to grin and bear some things. Parents, you're not going to re-set your college kid's clock. She's up late, she sleeps late, that's the way it goes. Students, your parents are wired to worry about you. Respect that, and agree to some kind of curfew or calling system. 

And parents, about those dirty towels? Don't fight it and don't bother washing — just smile, re-fold and put them back in the linen closet. (A sense of humor goes a long way over a month's break!)

What do you think? Are there better ways for students and parents to get along over breaks from school?

Editor's note: The Student LoanDown team is taking a short winter break of its own, albeit with clean towels! We wish you all very Happy Holidays and will be back the week of January 5.

Barbara

Holiday time means once-a-year kind of treats — lovely baked goods, tins full of popcorn, and candies galore. Everyone has certain foods without which it just wouldn't feel like the holidays. For me, it's hoska , a Czech bread that my sister makes from our grandmother's recipe. That's always been a family tradition.

Since moving to Sioux Falls, some new holiday treats have become somewhat of a tradition for me. Specifically, a recipe that Staci recently bestowed on me — her mother's party mix.

There are lots of types of party mix , but this was the best I'd ever tasted. This is my third December working with Staci, and each year the mix has made a brief appearance at the office. Brief because it's so good, it doesn't last long! This year, I decided I would be able to control myself with the recipe and not eat the entire batch in one sitting. So, I asked and received.

Now, I knew the basic ingredients — various cereals, pretzels, and assorted nuts. What I didn't know was the cost to buy those ingredients. Let me tell you folks: Nuts are spendy! I went with Staci as she stocked up to make her own batch and was not prepared for that price tag. Maybe I wouldn't be making my own!

I decided to try my hand at making the mix. But instead of following the recipe verbatim, I made some budget-friendly alterations, dubbing it "Poverty Party Mix."

First, I scrapped the nuts. They're not my favorite part of the mix anyway, so I could live without them. Next, I went generic. Crispix^®?  No way, Hy-Vee^®  Crispy Hexagons all the way. Cheerios^®?  Not so much. Hy-Vee^® Tasteeos work just as well. For full disclosure I did buy Kix^® , but only because there was not a cheaper generic equivalent.

So how'd it turn out? Fantastic! No one can tell the difference between the brand-name and store cereal, and the nuts weren't missed.

Feel free to share any other budget-friendly holiday treats. I should probably expand my palate past the party mix!

Oh and if you're curious about the recipe, here you go: Melt 3 sticks of butter in a roasting pan at 250 degrees, then mix in the cereal and add garlic salt to taste. Bake uncovered for an hour and a half, stirring and seasoning every 30 minutes, and presto, you have garlicky, buttery goodness to make the season a bit brighter!

Rachel

They say it's best to move every ten years or so in order to manage the clutter that builds over time. When you are in college, it seems like you are moving a lot. I certainly was, especially around the holidays.

At my college, we had to move out of the dorms and the sororities over the winter break. Friends with trucks and apartments with comfy couches were in high demand. I fondly remember a time when everything I owned fit in the back of my Subaru Forester .

I recently had to move out of my cubical to make way for new carpet being installed in our office building. Turns out, the same principles apply at work when you move. I had only been occupying my space in the cube farm  for four years but managed to fill half a shred bin of old files and stuff I kept just in case.

It felt marvelous re-organizing my paper clips and push pins, sorting them back out to their proper divided space in the top drawer tray. And even better, properly filing things I casually jammed into my bottom drawer (AKA "The Black Hole") when there just wasn't time to bother.

I love being organized.

For those of you preparing to move (yet again) in the next couple of weeks, I have one piece of advice for you: Get some Scotch tear by hand tape . It's amazing — so much easier than working the tape gun monster .

How about you? Are you required to move out over winter break?

Barbara

Recent grads, have you made your first student loan payment?

If not, it's coming. The six-month grace period of Federal Stafford Loans is ending for May graduates, which means it's time to repay.

Here are a few ideas to start your repayment off the right way:

1. Pay on time. One of the best things you can do to build your credit history and stay on good terms with your lender is to make on-time payments. Stay on top of due dates by managing your loan online. You can even make it simpler by signing up for automatic payments.

2. Pay more. A little extra can go a long way when it comes to saving money over time. Each dollar you pay in addition to your minimum payment means one less dollar to pay interest on. The savings can really add up.

3. Consolidate. If you want to make one student loan payment to one lender instead of several, you can consolidate your federal student loans through the government  and private student loans through lenders like Wells Fargo. Plus, there's an added bonus to private student loan consolidation: You may qualify for a better rate than you had on previous loans if your situation has changed.

4. Talk with your lender. We know some borrowers may have trouble repaying. The important thing is that you talk to your lender about your options. You may qualify for a deferment or forbearance. Or you may be able to pay on an income-sensitive, graduated, or extended schedule.

For those of you already repaying your student loans, what tips do you have on starting repayment on the right foot?

Caroline

Have you gotten a flu shot  yet? My kids and I have. I got the flu — and I mean the real-deal, down-and-out-for-a-week flu — nine years ago over Christmas, and I will never forget it. Any illness that sticks in your mind for almost a decade is something you don't want to get  again!

I recently heard a story  on NPR about how getting the flu can be costly for college students. The gist of it is, if you get sick and are out of classes for a week or more, it can possibly shipwreck your entire semester.

Certainly flu shots are not without controversy — just check out the comments connected with the story link above.

So, what do you think? Will you be getting a flu shot this year?

Staci

Heads-up: We'll be performing some much-needed maintenance and will be a little quiet for the next couple days.

We will still be receiving your comments (so please keep writing!), but won't be able to publish them until Friday when we're back in action. Thanks for your patience and for continuing to be a part of our conversation!

See you Friday!

Staci

Now that Thanksgiving is over, the holiday shopping season is in full swing.

I love to give. A Leo  by birth, I've always been a generous soul. So throughout the year I listen for cues from my family and friends about their wants and interests, find the perfect gifts, wrap them beautifully, and enjoy everyone's reactions at opening time.

Usually, I go a little, well, overboard.

This year is different. I've moved into a new home but haven't yet sold the other. And with two mortgages and two sets of utility bills to pay, my usual gift-giving practices won't be possible. Reluctantly I've had to adjust both my spending habits and my own expectations.

However, I didn't want to give up gifts entirely. After frank discussions with my family members, we agreed on a gift exchange compromise — a Yankee Swap.  We've done this for a number of years at our office holiday gathering with great success.

Our family has set a $25 limit for the swap. My mom is really getting into it, trying to think of gifts that we would all want to steal from each other, because that's where the real fun is. My younger sister, who won't be able to come home for Christmas this year, is mad that she's going to miss it.

"Can't I participate by phone?" she whined at Thanksgiving.

Anyway, it's not buy nothing, and it's somewhat frugal, but I think it's going to work out just fine. We might even start a new family holiday tradition!

If you're a conflicted giver like me, how are you adjusting your holiday gift plans this year?

Caroline

Money is tight for nearly everyone this year — but if you think creatively, you can give some pretty cool holiday gifts without spending a whole lot.

I found a fun website  that can help you organize your gift-giving process, and offers some cool ideas for "alternative" gifts as well.

A couple of my favorites that they suggested were a compilation CD or a special photo, enlarged and framed — both items are always inexpensive, but very personal and fun to get.

Use your imagination and you're bound to come up with something affordable, yet meaningful for a special loved one. My stepdaughter once made an updated version of a "World's Best Dad" plaque that she'd originally created when she was about five. The new version is really cute and very sentimental — it was definitely a hit with her dad. And it hardly cost her a thing.

If you don't see a lot of your extended family these days, try giving the gift of special time with you. Take your aunt pottery painting , or invite your uncle to a basketball game at your school after winter break is over. Wrap up a nice-looking coupon to open, and be sure to be specific about time and place, so you actually follow through.

There are other great ideas for I-O-U coupons on the site as well. Check it out and save yourself some cash.

Got any other ideas for cool, inexpensive gifts to give this holiday season? Share them with us!

Barbara

I've got to be honest with you: I don't really give gifts. Sure, I generally find something for my niece and nephews and do help Santa fill my sister's stocking with some practical items she needs (think socks and Chapstick®).  But that concludes my shopping list. In our family, Christmas isn't a huge gift-giving ordeal.

For me, the holidays are much more about experiences rather than things. I'd much rather spend my time watching my father cry at It's A Wonderful Life ,all the while claiming he just has a cold (his excuse every year), than watch him open a gift that I stressed out to find and that won't last like the memories will. Cliché as it is, it's more about presence than presents. (Yeah, I'm groaning, too.)

Given the current economy, a lot more people are cutting back holiday spending. Some are even getting close to a no-spend holiday. But you still want to let folks you care about know that you're thinking of them during the holidays. Here are a couple ideas that can help do just that:

1. Send a note. A quick ecard can let someone know they are on your mind — I'm fond of the wittiness some ecards  provide. Or you can send a special note to tell them you'd like to give them something more meaningful  as an alternative.
2. Give a virtual gift. It's no secret that I'm slightly obsessed with Facebook. And during this season, I love the holiday applications. Particularly, My Christmas Tree , which lets you wrap and send virtual gifts to your friends who use the site.

I'm curious: How comfortable are you not giving gifts during the holiday?

Now, if you're set on giving things this holiday, check out Caroline's advice later this week for some inexpensive gift ideas that can help your budget!