Recent entries by Trang

Winter feels like it has gone on forever, I’m ready for a little break. Are you feeling the same way? It happens that Spring Break is right around the corner (technically it doesn’t exist in the corporate world). Still everybody needs time now and then, to unwind and have fun. If you are starting to think about Spring Break, here are some tips on how to make the most of this much needed break from the daily grind:

Set a goal for your spring break. What do you want out of your break? How are you going to recharge your battery? Since I can only afford to take a few days off, I’m taking a road trip. I’m heading to the mountains to refine my snowboarding skills (which are almost nonexistent). This is how I am going to recharge.

Save some money, find deals. Once you establish where and what you are doing for spring break, look for local deals. Using Groupon, I found lift tickets for $39 versus the regular price of $89! Saving over 60% means I can enjoy an extra day of snowboarding, splurge on a “must eat” at the restaurant or keep a few extra bucks in the bank.

Make the most out of your time off. To really make the most out of your break will require some work up front. Just because you are going on break doesn’t mean the world stops, there will still be work that needs to be done, chapters of reading to get through and overall deadlines that still need to be met. Before you check out, get your to-dos done. Getting things checked off your list means you will be able to keep a clear head and fully enjoy yourself without worrying.

Play it loud. Last thing to do is make a playlist. For many of us, music gets us through the road trip, long plane ride, sets the tone for the night and creates memories. Pick your songs, create the list and enjoy!

What are your plans for Spring Break?

It feels like summer ended yesterday and yet we are fast approaching the end of October. This means Halloween is right around the corner. As an adult, I have come to love Halloween more now than when I was a trick-or-treating ninja. Here are a few reasons why this holiday has made it to the top of my list:

• Ever wonder what it would be like to be a member of your favorite rock band? Or Big Bird for a day? Halloween is a free pass to be anything for the day. Let’s face it, as adults we don’t have a lot of opportunities to dress up and be as ghoulish, silly or ridiculous as we want to be.
• Can you say SWEET?! Yes, I can eat all the sweets I want on Halloween. Or so I tell myself.
• A legitimate reason to come together and celebrate without all the formalities of the traditional holiday.

If this isn’t reason enough to make it to the top holidays list, I’m not sure what is.

On to an important component of this holiday: what to be? With the annual costume party I attend just a few days away, I need to come up with a costume and quickly! Here are a few costume ideas I am considering:

• An angry unicorn. I’m still trying to figure out how to make hooves, maybe I’ll cut the bottoms out of some plastic cups. And I might bring some unicorn poop for authenticity.
• Washer/dryer combo, I need a partner to complete the combo idea. So far, no takers. No one seems to think this is a good idea.
• Nicki Minaj, what can I say? It is hard to pass on the opportunity to dress up as an over the top hip hop star.

What are you going to be this Halloween? Please share but be aware, I may “borrow” your ideas.

Whatever you choose to be or do this Halloween, happy trick-or-treating!

I’ve recently decided to forgo some savings and splurge on a trip later this fall. For me, a good recharge and mental break is worth splurging on. My brain is now on trip planning mode. After returning on my last trip abroad, I realized that I was spending quite a bit on currency exchange and ATM fees, my goal this time is to be prepared and save a few bucks by knowing where and how to get my money before I leave the states. I decided to reach out to my buddies in Foreign Exchange Services for tips. Here is what they shared:

Cash is king.

Foreign currency is still the quickest and simplest form of payment for incidental travel expenses. It’s accepted everywhere and everyone should travel with some.

Cash travel tips.

Deciding how much cash to travel with is an individual decision, but past travelers’ experience indicates carrying $50-$100 worth of foreign currency per person, per day of travel. Take precautions when you are out exploring and only carry the amount of cash you feel comfortable with.

The next best option to obtain foreign currency abroad (aside from arriving with it) is to purchase it from a bank or ATM. Keep in mind, not all foreign banks will service non-customers or may charge a fee to do so. ATMs will have fees associated with each transaction (generally fees from your home bank as well as the foreign bank) and many small transactions can add up quickly in fees. Make sure you know your daily withdrawal limit before traveling, but be aware that foreign ATMs may have their own limits which could be less than your bank’s allowance.

If you need to replenish your cash supply while traveling, steer clear of ‘no-fee’ exchange houses where you may find higher rates to compensate for the lack of fees. You may want to reconsider using exchange terminals in airports, train stations, hotels, and tourist sites as the most convenient exchange channels often have high exchange rates.

Credit cards, a good compliment to cash.

Credit cards make a good travel money compliment to cash. They are good to use for large transactions and generally provide a competitive exchange rate. The majority of credit cards will charge a foreign transaction fee so know the fees associated with your card.

The bottom line

To save time while traveling, purchase foreign currency before leaving and pay for what you can in cash. If you use a credit card, use one with either no or a low international transaction fee and make sure to pay for all goods and services in local currency. If you are taking cash from an ATM take out as much as you feel comfortable carrying to avoid multiple fees for small transactions. Planning your travel money needs in advance can save you valuable travel time and prepare you for the adventures ahead!

For additional tips and/or reviews, check out Trip Advisor. There are countless forums, articles and reviews on foreign currency exchange in specific locations you may be visiting.

Now back to travel planning…

Summer is a time to recharge and explore. It provides a break to escape the strict school schedule and do things on your own time at your own pace. Maybe you're working a job over the summer, too, but even a long weekend getaway will do wonders to help you recharge. To help you plan wisely, I've created a list of my top 5 summer travel tips:

5. Find out what you can afford. Before you plan your summer adventure, figure out how much you can afford. Try to anticipate unexpected costs. You don't want to budget enough money to get you to your dream destination, but not enough to enjoy it while you're there.

4. Explore all your options. Consider staying local, or take a road trip (see tip #1) and explore other states while expanding your "number of states I've visited" list. Or maybe you want to go far away and explore a new country and culture; backpacking and youth hostels are viable alternatives. Try a simple online search for "cheap summer vacations," it will yield lots of great options.

3. Shop around, don't settle for full price. Look for the best deals by utilizing online travel resources that allow you to shop and compare from airfare, to hotels, to rental cars and more. Visit the local visitor center; they have great resources including helpful maps (with insider tips and information) and discount coupons. Don't forget to mention you're a student wherever you go and bring your student ID, since many places offer discount rates just for students.

2. Plan it. To make sure your trip fits your style, be sure to figure out what kind of traveler you (and your friends or family member) are, and make some allowances for different preferences. Need help figuring out what kind of adventurer you are? Visit our Facebook page to take the Take the Journey quiz. Discover what kind of traveler you are and how to allocate your money for your travels.

1. Enter the "Take the Journey" sweepstakes. You could enter for a chance to win the ultimate road trip for two including an all-new 2012 Ford Fiesta and $6,300 spending money. Plus, we'll give away several other prizes, 96 in all, throughout the campaign through our monthly sweepstakes drawings! Just visit wellsfargo.com/backstage by 9/30/12 and complete the online entry form. See Sweepstakes Rules for complete eligibility and prize award details. No purchase is required.

Bon voyage, safe travels! Whatever you do, and wherever you go, have fun!

It was barely two months into the New Year when I had a big unexpected expense: car repairs. And I was just starting to catch up from the holidays, after the shopping sprees and travel expenses that come along with that time of year.

Needless to say, I'm stretched thin at the moment.

But this got me thinking: How do I maximize my money when the purse strings are tight? I think we all face this question at some point or another, whether you are established in your career, starting your first job or still in school.

Whether you're stretching money to your next paycheck or stretching your loan money throughout the semester these tips may help make your money last:

• Track your money. Do you know where your money goes? Knowing how much you spend on non-essentials will help you turn away from the next impulse spend. There are tools such as My Money Map that can help track your spending and budgets you set for yourself.
• Think discounts. You don't have to give up everything. Find discounts for the things you want to do. With daily deals and discount sites like Groupon and Living Social, there are plenty of deals to be had, whether it's discount movie tickets or meals. Students, don't forget there are many discounts and perks offered just for you as well.
• Create a budget. Budgeting will help get you from today through the next pay check or the end of the semester. It just takes four steps. First, look at your income and savings. Next, plan for your expected expenses. Then, factor in some pocket money. And finally, save what you can.
• Don't give up on your budget! You might need to make some tweaks for your budget to work for you. Check up on your budget from time to time. See where you may need to adjust your planned expenses.
• Plan for the unexpected. Build an emergency fund. Things happen, unexpected expenses happen. The only way to deal with this is to make sure you have some funds set aside for such occasion. While it may seem ironic to plan for the unexpected, it really does help to be prepared (as much as you can) for the unforeseen. Like pop quizzes, they catch you by surprise but as long as you've kept up and paid attention you'll fare okay.

What about you? How do you stretch your money?

Since January isn't quite over yet, and we are all still on the subject of "new," since it's a new year, new semester (or term), new quarter (for those in the working world), it is an excellent time to make changes, pick up healthy habits and overall get yourself on track for a successful year.

Getting on track not only relates to physical resolutions but also financial ones. I am determined with this new beginning, to teach myself how to gain (or regain) some financial independence.

Here are some tips to help you (and me) get on track and work towards financial independence:

• Track your income and spending. This will help answer the big question: Are you spending more money than you are earning? Knowing where your money goes can help you figure out where to "trim the fat." Don't fret; you will not have to do this manually. There are tools like My Money Map that help track spending, goals and budgets you set for yourself.
• Create a budget. Budgets may seem overwhelming to create but are helpful if you have a specific goal in mind, like making your money stretch through the semester or saving for something fun. Plus, setting and sticking to a budget can help get you out of debt, or make sure you stay debt free. Here's a handy budget setting tool (PDF*) if you need one.
• Educate yourself. Not sure what you should be saving or even investing versus what you're spending? There are plenty of financial education tools and resources available. Hands on Banking offers tips on money management, credit and lots of other things, too.
• Set up a savings plan. Even a few bucks a month can add up at the end of the year. Consider saving automatically. Whether you choose a direct deposit or automatic transfer, just set it up and go!
• Know the score, your credit score. Having a good credit history could give you an edge over others when applying for that rent-controlled apartment you've been trying to get. Credit history is an important factor when lenders and other decision makers, like landlords, decide whether or not to accept your application. Each year, you can request a free copy of your credit report from annualcreditreport.com.

While the beginning of a new year is a good time to start fresh, it is never too early or too late to teach yourself something new. You can start any time of the year.

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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!

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