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Barbara

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Another semester bites the dust, folks! After all the hard work you’ve put into classes and activities on campus you get a few weeks to relax. Feel free to press snooze as many times as you like. Heck, don’t even set an alarm!

But if you’re looking to blend your relaxation with a bit of productivity, here are a couple ideas to occupy your time until next semester begins:

• Review your financial aid and have a conversation with parents about how it’s working out for you. Remember the time to file your renewal FAFSA  is just around the corner.
• Take time to see old friends. While you may have a different circle of friends in college it’s important to catch up with your high school friends.
• Price out the books you’ll need for next semester. You know they can be spendy, so see if you can find a better deal online or asking friends who’ve taken the same class if they’d sell you their book.
• Make a little extra money to take back to school with you. Whether you pick up some hours at your old high school job or do odd jobs for your family you know every little bit will help once you’re back on campus.
• Start working on your internship search. The winter break is a great time to get a head start on your plans for the summer. Update that resume and build a list of possible internship opportunities.
• Take a moment to look back on your spending this semester. Can you make any changes to your budget (or start one) that would help you better manage your money?
• Spend time doing the things you can’t find time for in college – read a book for fun, update your scrapbook, go on some long runs – whatever hobby that gets bypassed for time spent with notes and textbooks during school.

What else do you have planned for your winter break?

Editor's note: The Student LoanDown team is taking a little winter break as well. We will be back after the New Year. Happy Holidays!

Kathy

I’ll admit, I’ve got budgeting on the brain. Maybe it’s because it’s relatively early in the New Year, and I have the chance to start fresh with a clean slate. Maybe it’s because my student loans have recently gone into repayment. Maybe it’s because I have an extreme Type A personality  and I really can’t help myself.

Whatever the cause, the budget bug has bit me big time!

My group of friends is pretty much comprised of current and recent graduate students, and we are all-too-conscious of the need to save money where we can. So a few of us have recently adopted a challenging and budget-friendly New Year’s Resolution: find fun activities for the group to enjoy without spending more than $10 per person.

Let me tell you, living in the San Francisco Bay Area, that’s not an easy endeavor. We’ve pretty much eliminated every sit-down restaurant, museum  and high profile tourist activity  out there.

This is where some creative thinking comes in, and the fun begins! For example, did you know that many museums offer days where admission is free or the price greatly reduced? Or what about that hidden gold mine, the student ID? Many places of business offer great discounts for students, which may put previously out-of-reach ideas back into compliance with the resolution. The possibilities are endless!

I’m excited about the ideas we’ve come up with, but I’d love to get your input! How can you keep to a budget and still have a good time?

Staci

Happy 2009! Have you made any New Year's resolutions? 

I'm not a particularly successful resolution-keeper. Last year, I vowed to eat healthier, and for six weeks it was nothing but oatmeal for breakfast, salads for lunch, and Lean Cuisine®  for dinner. By the time Valentine's Day rolled around, I felt so deprived that I consumed a two-pound box of See's Candies®  in one sitting.

All bets — and subsequently, all resolutions — were off.

Looking back on it, I know my resolution was too general — not to mention highly unrealistic! I'm guessing that many resolution-makers find themselves in similar situations.

Depending on what stage you are in your student life — soon-to-be-student, current student, recent graduate — here are a couple of specific, achievable New Year's resolutions you could adopt in 2009:

1. Apply for at least one scholarship. Remember, free money for college means less money you'll have to borrow, and plenty of scholarships are out there for those willing to do a little work. Find one that's right for you by checking with your high school guidance counselor, your college financial aid office, your employer (or your parents' employer), or a scholarship search.

2. Before you apply, read the fine print. Know exactly what you're getting into before you sign a credit card application or a student loan promissory note, because your signature indicates that you agree to the terms and conditions. Pay attention to interest rates, fees, grace periods, and repayment periods. If you don't understand anything, ask — before you sign.

3. Make an extra student loan payment. Student loans don't have prepayment penalties. At least once this year, scrounge up enough cash to throw an extra $50 at one of your student loans, preferably the one with the highest interest rate. Just be sure to communicate with your lender and let them know exactly which loan you want the extra payment applied to.

My one resolution for 2009? Not to eat an entire box of See's Candies in one sitting. Sounds pretty doable, right?

Caroline

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!

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!

Caroline

For most of the population, Thanksgiving is a pretty restful holiday. No real obligations other than to eat and watch football.

For college students, it's different. You still get to eat and watch football , but it isn't always a particularly relaxing weekend, is it?

When I was in college, all I really wanted to do over Thanksgiving was catch up with my old friends and get some rest. But it seemed I always had homework over the holiday weekend — lots of reading and maybe even a paper due. And the stress of upcoming finals was always looming. Inevitably, I'd come back from Thanksgiving break dragging, instead of feeling refreshed and ready to take on the end of the semester.

If you have a lot of work to do over Thanksgiving break, my advice is tackle it a little bit at a time, to minimize stress. You don't have to hide away from your family all weekend either. Just try to grab an hour or two at a time to get things done, so you don't set yourself up for an all-day marathon on Sunday.

Are you ready for a nap after Thanksgiving dinner?  Grab a family member — or your iPod — and go for a walk instead. When you get back, your head should be clear enough to read a couple chapters, or sketch a quick outline for a paper.

Instead of sleeping away the morning after Thanksgiving, make fun plans for mid-day — meet up with friends for a movie  or something. Then promise yourself you'll study for at least an hour before you go. You're up at 10, and free for the day by noon.

Carve out another couple hours of study time on Saturday (the earlier the better, holiday weekends can get away from you!), and reward yourself afterward.

There! You just accomplished four or more hours of studying — no coffee-fueled cram-sessions required!

Give it a try — when you're packing up the car on Sunday, you'll be thankful!

Editor's note: The Student LoanDown team will be taking the rest of the week off for Turkey Day. (And we probably won't be studying!) We'll be back the week of December 1. Happy Thanksgiving!

Kathy

To go home for Thanksgiving or not to go home for Thanksgiving?

That is the question many of you may be faced with this time of year. It's not always an easy decision. For some strange reason, with the wrap-up of the elections earlier this month, I am going through debate withdrawal . So I'm opening up this topic for debate, and I'll start with a couple of my personal arguments on either side. Please feel free to chime in with your own opinions on the matter.

Point: Get thee to mom and dad's house
Come on. You KNOW you want to go home, because who doesn't love mom and/or dad's cooking? All that turkey, mashed potatoes, stuffing, cranberry sauce, etc., etc., etc. My mouth is watering just thinking about it! Often the siblings and other extended family members come over as well, making it an official family event — and you'd hate to miss out on the memories and photo ops! There's nothing like sitting around the table with the people who mean the most to you, and then crowding into the living room to fall asleep watching football. There's a reason that the days around Thanksgiving are usually the busiest travel days of the year  — it's a great holiday to be with family, and you don't want to miss it!

Counterpoint: Save the dough and wait for winter break
Come on. First, you've been living on your own for a while now, and what better way to show your personal independence than by staying at school and creating your own holiday traditions? Why not invite some of the international students over and show them what American Thanksgiving traditions  are all about? Second, if you live more than a few hours away from home, it doesn't really make sense to go through all the planning, packing, driving and/or flying that might be involved for just a couple days! Have you seen the airports over Thanksgiving?!? And finally, you'll probably have the chance to go home in about a month during the winter break, so why not just save your money over Thanksgiving and tell the 'rents you'll see them soon?

So that's what I came up with — what are your thoughts? (And, for full disclosure, I ALWAYS went home for Thanksgiving...)