December 2011 Archives

Last week we talked about smart gifting strategies for the holidays. I was curious about our own favorite gifts so I asked the bloggers to share the best gifts they've received.

For me, it was a childhood gift that still sticks out in my mind. My parents indulged my New Kids on the Block obsession with a Joey McIntyre doll. I loved that thing more than words could express!

Trang
The best gift I ever received arrived on my sister's birthday when we were little kids. Tone was a German shepherd puppy, who was our first family pet. I have loved dogs (all animals really) ever since.

Caroline
When I was in second grade I got the complete box set of "Little House on the Prairie" books by Laura Ingalls Wilder. I can still vividly remember opening it and seeing that bright yellow box. Like every other little girl in the 1970's I loved "Little House" getting all the books at once was the best!

Vikas
My two kids!!

Yasmine
I'd like to say that the best gift I've received was something thoughtful, personal and creative, but I find that I more often appreciate the practical gifts. In college, I received a gift card to Whole Foods for my birthday, sent to me from my aunt. Though on the surface it was just a gift card, it allowed me to escape the miserable Indian food they served every Sunday at my dorm's dining hall and indulge in the glorious spread that is the Whole Foods salad bar. The card lasted me a whole quarter, and it made every Sunday night, usually the time when my family would gather and have a nice meal before the start of the week, like a little slice of home. Thanks Tata Badra!

Dinna
My husband proposed to me at Christmas. He hung the engagement ring box like an ornament and put a sign on the tree asking me to marry him. Then we were married around the holidays the following year.

Hopefully you're getting ready or already are enjoying the gift of time with friends and family this winter break. At the end of the day that time is really one of greatest gifts you get in college—and before and after for that matter! Here's wishing you the gift of a great winter break.

Editor's note: We're planning to take a short break ourselves to enjoy time with friends and family. We'll see you in the New Year!

I don't know about you, but I rarely carry cash. I have an excellent relationship with my debit card. However, there are sometimes when I have to stop at an ATM to grab some cash for certain purchases and situations—like dinner at the fabulous dive restaurant that only takes cash, when I'm using a cash only system to keep my lunches out in check, or at places that it's just easier or necessary to deal in cash (for me the biggest ATM trips come before a Saturday of the garage sale circuit).

And let me tell you, these quick ATM trips can add up and usually without me even knowing it. But there's a tool that can help you stay within a desired range: ATM Cash Tracker.

It's super simple to set up. To show you just how quickly you can get on the path to tracking your monthly ATM withdrawals, I made a quick video of me doing just that. Before you watch, be sure to prep yourself for my new haircut. And please disregard the camera operator's giggles. I'm so funny she couldn't control herself!

Okay, it's crunchtime. Finals are wrapping up and now you have to shift gears into holiday-mode. Every year, it seems to sneak up on some of us and we scramble up to the last hour to find thoughtful gifts for our friends and loved ones....

As someone who rather enjoys the process of gift-giving, I thought I'd pass on a few more tips to add to what Trang already shared on finding the perfect gift FAST without breaking the bank.

1. Give an experiential gift—something that can't be wrapped but you can spend time with this person doing something new together. For example, share a cooking lesson with your mom, a ball game with your dad, a massage with your sister, a flying lesson with your brother. With life being so hectic, this memorable time spent together might be more valuable to its recipient than many tangible gifts they might receive. These tend to be on the pricy side. Don't forget to inquire about student discounts. Totally work that! Also, all the daily deal sites make giving this kind of gift that much more affordable. Make sure you read the fine print though and ensure the deals are not terribly restricted or expire faster than you can spend them.
2. Cyber Sales! It's true Cyber Monday has come and gone. But there are still tons of great deals out there online with free or inexpensive shipping—especially today since it's Free Shipping Day! If you still have a long shopping list to get through, your time may be best spent at a café and knocking out all the gift purchases in one sitting. Sure beats circling for parking at the mall and waiting in crowded lines! Many big department stores, bookstores, electronic stores have policies where you can return the stuff you purchased online at the store down the street. Easy Peasy Lemon Squeesy.
3. DIY. When in doubt, give something you've made from your heart! Dedicate a random Saturday to baking up a storm—cookies galore have never disappointed. Or, if you happen to be low on cash and particularly creative, think about what you have around the house that you can repurpose into something clever. Maybe you have a relative who is an amazing cook? How about saving well-designed coffee or tea canisters and turning them into planters for herbs or small plants. It's not only great for your budget, but fabulously eco-conscious. Win-Win!

Well, that's about all I got for now. Maybe by next year, I'll come up with some new ways to make your VIPs smile. Since I love giving and receiving gifts all year long, please share your own clever gift-giving tips.

Happy Holidays, my lovelies and Cheers!!

It's prime time for holiday shopping and events. Even though it can be stressful and hairy, I do take pleasure in gift giving and a good celebration. So, what really gets to me? Celebrating the holidays in style with my limited resources – can you relate?

Luckily, I've found a way to tackle my obstacle and make it more manageable. Here are some ideas to get you started:

• Make a list of people you are getting gifts for and make notes on what you would like to get each person. This will help deter you from spontaneous purchases. The Chia pig is cute, but does mom really need another Chia pet?
• Set a budget. Budgeting and shopping? Yes, they can and do go hand in hand. A budget is helpful when you have a goal in mind, like a nice leaf blower for dad. Setting and sticking to a budget can also help you stay out of debt during this time of high spending. Use tools like this budget worksheet (PDF)* and My Money Map to keep you on track.
• Do your research! Even though Black Friday and Cyber Monday are behind us there are still plenty of great holiday sales and promotions. Do price comparisons online before you go out and buy. Watch for friends and family events, daily promotions, and tap into rewards from retailers, airlines and credit cards. If you are a Wells Fargo Credit or Debit card holder check out these deals and check back often, the discounts do change.
• Lavish gifts aren't the only way to celebrate the holidays. Instead of giving gifts to each other, consider giving to charity. It could be buying things for those in need and delivering them together or donating to a charity that's important to one of your friends or family.
• Not in the mood for a big meal or gift exchange where you end up with yet another pair of socks? Volunteer together! Pick a day and get together with friends and family to volunteer locally (for whatever cause you support). It's a great way to spend time together while giving your time to those who need the extra help.
• If you're getting together to eat, drink and be merry, consider a fundraiser party. See if a local business would host your party and perhaps donate a portion of sales to a local cause. You can also up the ante by asking your party goers to pay a "cover charge" which can be donated at the end of the night to a cause of choice.

Whatever you choose to do to celebrate this season, enjoy and be merry!

Editor’s note: Help us to welcome Trang, the newest member of our blog team!

* You will need Adobe® Reader® to view PDF files. Download Adobe Reader for free.

Are you someone who likes to put off the inevitable? Do you define "studying" as a coffee-fueled cram session the night before a test?

While that approach may get you through a class or two, it's not a habit that will help your financial life. When you want to apply for a credit card, sign a lease for an apartment, or buy your own car, nothing you do the night before will help your credit situation if you haven't been taking care of it all along.

Building and maintaining good credit is something you have to work at consistently and over time. You have to commit to making those monthly student loan payments on time, to keeping up with your credit card payments, etc. There's no quick fix or easy out if you don't do it.

So, how can you stay on track with your credit? Here are a few tips:

• Set up automatic payments. Paying your bills with automatic payments is one simple way to ensure that your payments consistently go out on time. You'll avoid the hassles of writing check and buying stamps as well.
• Be careful with your credit card use. Try to charge only what you can pay off in full each month. Carrying a balance regularly means you're paying interest charges, which add up over time. Don't skip any payments, and if you can't pay the outstanding balance in full, pay as much as you can each month—try to pay more each month than the minimum payment due.
• Set up a schedule for paying bills and checking on your accounts. Even if you're paying bills automatically, you still need to be careful to check your accounts each month. Ensure the proper payment amount went out, check your account balances and make sure there's no unusual activity.
• Check your credit report annually. Once you've put in all the hard work to keep your credit on track, be sure you monitor your credit report by checking it annually at annualcreditreport.com. Review it carefully for any errors and take note of your score.

If you're planning for college or already there you could probably use a little extra money, right? I doubt any of you would pass on the opportunity for free money. So I wanted to share an opportunity with you ... and there is an added perk. How about a chance to win money plus information on planning for college or managing your money while you're there?

That's where the CollegeSTEPS^SM Sweepstakes¹ comes in. Wells Fargo is giving away $1,000 prizes to high school and college students—20 for each group—for a total of $40,000. All you have to do is sign up here to receive college tips and tools from Wells Fargo. Then you'll automatically be entered in the sweepstakes for a chance to win. There's no purchase necessary.¹ Plus, you'll get emails with helpful information tailored to you to keep you on track with money management and college planning.

How does the sweepstakes work? Winners are chosen through random drawings. Once you sign up, you're automatically entered in future drawings. If you are a winner, you'll be notified by mail within two weeks of the drawing dates. Check out full details in the Official Rules²2 (PDF).

And here's some more info about the tips and information you'll get: High school students will get emails through our CollegeSTEPS® program covering topics like study tips, financial aid, and making campus visits. Emails to college students—our Student WellsWire® newsletter—cover topics like saving and budgeting, finding and managing student loans, and savvy money tips for college life.

So if you're in the market for some extra money and some college tips, be sure to head over and sign up!

¹NO PURCHASE OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN THIS SWEEPSTAKES. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. Sweepstakes runs on www.wellsfargo.com/collegesteps from 12:01 a.m. Central Time ("CT") on 8/6/11 to 11:59 p.m. CT on 8/5/12 ("Promotion Period"). Open to full or part-time students who are in an accredited secondary or post-secondary educational institution or program (including, but not limited to, high school, college, university or trade school, or are home schooled in an accredited program) and are legal residents of the U.S., 13 years of age or older as of the date of enrollment in Wells Fargo's CollegeSTEPS program or Student Education Resources ("Resources"). All eligible students who were enrolled in the Resources on or before 11:59 p.m. CT on 8/5/11 will be automatically entered in all drawings without having to re-enroll. See Official Rules for complete details. Void where prohibited by law. SPONSOR: Wells Fargo Bank, N.A., P.O. Box 5185, Sioux Falls, South Dakota 57117

² You will need Adobe® Reader® to view PDF files. Download Adobe Reader for free.