For the last few months, I've watched my savings account grow. I've been allocating a bit more than usual from each paycheck in anticipation of a big purchase: a bicycle.

A bike has been on my "want to buy" list for quite some time. The bikes of my childhood were generally passed down. Even during college I had a borrowed bike to get around.

Come to think of it, I'm not sure I've ever had a two wheeler that was just mine.

Biking has always been fun for me. So, after much careful consideration, I decided that it was time to invest in a quality bike that would last me a while — preferably before summer arrived. Luckily, I made that decision with time to save up for my big purchase.

As warmer weather arrived, I started to research my options. I even enlisted the help of seasoned biker Caroline to talk through the information I learned from several biking blogs and forums and by visiting local bike shops.

A few test rides later and I found her: my green beauty .

Speaking of green, I'm hoping shelling out this bit of green will help me save green in the future — and go green for that matter. (Aaah! Color overload!)

Instead of hopping into the car for a quick trip to the store, I'll take my bike instead. This way I save gas and don't overbuy (you think twice about putting an item in your basket when you know there is limited space to bring it home!). And even though the commute will be a bit of a trek, I'm hoping to bike to work on occasion.

Living green to save green: Caroline's wise advice stretches far past biking shorts recommendations!

Posted by Barbara at 10:00 AM |  Contact Barbara |  Permalink  |  Comments (0)
Found in Bikes, Budgeting, Environment, Financial education, Saving, Wells Fargo Bank

Editor's note: The Student LoanDown is thrilled to welcome back Caroline Hanson from family leave — and just in time for all the earth-friendly festivities happening this week!

When I graduated from college 14 years ago, people weren't all that serious about "going green." Most of us recent grads were driving giant gas-guzzling cars from the '70s and early '80s. And back then, being a "granola" was much more about wearing flannel shirts and Birkenstocks  than saving the environment.

For those of you in college now, you really have a great opportunity to live "green" for your whole adult life. For me, I've really only recently become more conscious of living "green." The cool thing I've noticed is that doing things that are environmentally friendly will almost invariably save you money.

It's almost like if you just make a conscious choice to spend less money, you'll automatically be doing things that are also good for the environment, whether it's buying a car  that gets great mileage, turning down your thermostat, or using compact fluorescent light bulbs .

Conversely, if you struggle with saving money, try shifting your focus to living eco-friendly instead. You might find that living green saves you green.

What environmentally-friendly things have you done that saved you money?

Posted by Caroline at 09:29 AM |  Contact Caroline |  Permalink  |  Comments (2)
Found in Environment, Looking back, Remember, Saving, Wells Fargo Bank

Since it's Earth Day  today, I thought I'd share with you a new Wells Fargo initiative encouraging folks to "go green" with online only statements.

It's actually quite cool: To be automatically entered for a chance to win some green — one lucky winner will claim the grand prize of $25,000! — sign up for online only statements for all your eligible personal and/or business accounts (student loans included) by June 10. Check out the Sweepstakes Rules for all the necessary legalese including how to enter for free.

Why go paperless? Well, because you'll be part of an effort that saved over 180 tons of paper in 2007 ¹. From manufacturing to disposal, the benefits of eliminating that much paper adds up in some pretty dramatic ways. Last year, customers who signed up for online only statements helped the environment by:

• Saving 562 tons of wood, the equivalent of 3,888 trees

• Conserving 6,605 million BTUs (British Thermal Units) of energy, enough to supply energy to 73 homes for a year

• Eliminating 4,686 pounds of sulfur dioxide, the equivalent of taking 852 18-wheelers off the road for a year

• Cutting 986,290 pounds of greenhouse gases, the equivalent of taking 90 passenger cars off the road for a year

• Eliminating 2,146 pounds of particulates, the equivalent of taking 192 buses off the road for a year

• Saving 3,276,032 gallons of water, enough to fill 5 large swimming pools

• Eliminating 389,877 pounds of solid waste, enough to fill 15 full-sized garbage trucks

Plus, if you're anything like me, going paperless also helps you be more organized. I receive very few paper statements at this point in my life, so with pdfs  of my online statements stored on my home computer (and, of course, responsibly backed up on my portable hard drive), everything's in one place and easy to find.

Small step for you, big victory for our planet!

¹ Statistic used for comparisons based on research done by the Paper Task Force. For more information, contact Environmental Defense at www.papercalculator.org .

Posted by Staci at 09:52 AM |  Contact Staci |  Permalink  |  Comments (2)
Found in Banking, Environment, Financial education, Wells Fargo Bank

I'm a conflicted frump  (see definition #2).

On the one hand, I'm kind of resistant to new things, especially when it comes to technology. But on the other hand, once a friend starts to sell me on it, I'm pretty easily converted.

DVR ? No way. My kids are going to wait to see their TV shows at the time they're aired. Just like I had to.

iPod ? Well, I have this Walkman, see. And it still works.

iGoogle^tm ? What the heck happened to my plain old Google  page? This is so annoying! (Yeah, even little changes tend to throw me.)

Well, in the past year, I've fallen in love with my DVR, (Staci sang its praises to me), my iPod (I took one look at Staci's adorable Nano  and it was all over) and now iGoogle (again, Staci convinced me how cool it was to customize my page).

I'd like to say I'm old-fashioned because of my age, but I can't. Staci and I are both proud grads of the class of 1989 ! I think I just have to chalk it up to my personality. So with that, I can totally relate to people who are resistant to changing their banking ways. But let me try to be the friend who changes YOUR mind.

A few years ago I was pretty old school when it came to finances (imagine that!). I got my bank statements in the mail and I paid all my bills the traditional way: checks, envelopes, stamps. But when I got married, my husband introduced me to the world of online banking.

I eventually came to realize that banking online is pretty great for a lot reasons – quick balance checks, you can transfer funds easily, pay your bills online, etc. But the really cool thing about it is that it lets you cut down on all those paper bank statements you receive.

Recently we've implemented a system at Wells Fargo where if you bank online you can view your student loan statements there, and with a couple clicks, you can request to stop receiving your paper billing statements. Getting online statements not only helps minimize the amount of paper mail you have to deal with, it also reduces your risk for mail fraud and is generally a nice thing to do for the environment.

Even a frump like me can get on board with that.

Posted by Caroline at 11:05 AM |  Contact Caroline |  Permalink  |  Comments (1)
Found in Banking, Blog Action Day, Environment, Online banking, Wells Fargo Bank

The other day as I was dropping off my daughter at her kindergarten class, I ran into my friend Dave's family. I was surprised to see them all — mom, daughter, and son — riding their bikes to school!

As I watched them pedaling with a parking lot full of SUVs  in the background, I thought to myself, "They're definitely doing their part to save the environment!"

I guess I shouldn't be surprised, since Dave rides his bike to work everyday. But it did get me thinking about what I'm doing. I recycle my paper, glass and plastic at home religiously — even my 2- and 5-year old daughters know that bottles and cans go in the "circle" and that regular trash goes in the "square." But every little bit helps, and I always wonder what else I can do to make a difference.

Then, as I was browsing through the Rewards programs available through my Wells Fargo credit and debit cards, I came across a "Green" option...cool!

I was planning to go for an Amazon gift card, but now I think I'll redeem 5,000 points and get a Renewable Energy Certificate. The best thing? Each certificate supports 6,000 kilowatt hours of green power — that's like planting three acres of pine trees!

I know there's a lot more I can do, and I am always trying to learn as much as I can about how to be green. In the meantime, if I'm already going to use my debit card for necessary purchases, then at least I can feel good that I can do something for the environment. And as a Wells Fargo employee, it's nice to know my company is giving customers an eco-friendly choice.

What do you think about Green Rewards? Does having an environmental Rewards option matter to you?

Posted by Dinna at 11:04 AM |  Contact Dinna |  Permalink  |  Comments (0)
Found in Blog Action Day, Credit cards, Debit cards, Environment, Rewards Program, Wells Fargo Bank