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Barbara

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Since I just talked about ways for wedding party attendants to budget, I thought it would be prudent to speak to all those brides- and grooms-to-be out there as well.

Now, I'm just a novice in the wedding planning arena, but I'm getting plenty of exposure from my sister, who's planning an October wedding. It seems like every time we're in the same room there is something new to look at. From centerpieces to cake, "save the date" cards to invitations...I've seen many options.

My sister is staying true to the "bride on a budget" mentality. She and many of the other brides in my life these days are looking for ways to lower their wedding's bottom line. Not everyone has the means to celebrate with a Platinum Wedding , and in my opinion, no couple should start their marriage with a mound of wedding debt in order to have one.

Through online sources like The Knot , brides can get great tips on everything from negotiating with vendors  to little ways to save.  Just cutting back on a few things or choosing to do something yourself can make a huge difference.

So far in my tenure as bridesmaid I've seen homemade cakes, bouquets made by the bridal party, and wedding dance music courtesy of the bride's iPod.  I even designed one of my friend's invitations so she could save on costs.

For all you young married ones out there, did you pull off a budget wedding? If anyone has some good tips, please pass 'em on — my sister will be eternally grateful!

Barbara

It's the year of the wedding — for me at least. This year I'll be a maid of honor twice and bridesmaid once. (Yes, it's a bit Jane. ) Not to mention I'll be a guest at a slew of other marriage celebrations.

As I've said before, I love a good wedding. But this year the matrimonial festivities are taking their toll on my pocketbook. Are any of you in the same boat?

When you're fresh out of college, it can be difficult to find the money you need for the basics (like rent, utilities and your student loan payment), let alone adding in a budget category for dresses, tux rentals and gifts. It can be a bit overwhelming. At first I was definitely wondering how to survive. 

However, with a little creativity on my part and some thoughtfulness on the part of some brides (thanks to a recession-friendlier industry ), I've been able to lessen the overall costs. Here are some slices of buttercream-frosted savings cake for thought:

1. Showers and parties — When you're in the wedding party, chances are you'll be hosting or helping with a shower or bachelorette/bachelor party. These, my friends, can get extreme. Think food, favors, game prizes, transportation...it all adds up. But thinking outside the box (a backyard BBQ, do-it-yourself invitations, etc.) can help you save. I was able to put together some cute favors for an upcoming shower with some items I found on sale. And instead of renting a bus for a bachelorette party, we're heading to places within walking distance of each other in Omaha's Old Market. 
2. Gifts — Here is where being creative can not only be cheaper, but more memorable, too. Staci once told me that while she was on a strict budget working in Washington, D.C., she gave couples an American flag that had been flown over the U.S. Capitol  on their wedding day. She also gave me a great idea for what has become my standard wedding gift: a basket of blessings based on a quote from the movie "It's a Wonderful Life."  Here's how it breaks down:
• Bread... that this house may never know hunger (a gift certificate to Panera Bread®  or your local bakery)
• Salt ... that life may always have flavor (coarse salt in a cute shaker)
• And wine ... that joy and prosperity may reign forever (this one's pretty self-explanatory)
3. Attire — Thanks to budget-conscious brides, I've had some savings here as well! My first wedding duty this year is as maid of honor for my best friend, who kindly chose a bridesmaid's dress by Isaac Mizrahi for Target®  (just $49.99!). Plus, we got to pick our own shoes; I made sure they were something I would wear to work, too. The other weddings I'm in? I'm getting a pretty slick deal there, too. One bride's mother purchased the bridesmaids' dresses (how nice is that?) and the other got a discount for choosing dresses at the same store where she purchased her wedding gown (bonus!).

So despite my initial thoughts, I think I am actually going to make it through this year of wedded bliss and may even still want to have a wedding of my own one day!

Anyone else have other tips to save on wedding party expenses?

Barbara

Earlier this week, the abundant sunshine in my kitchen reminded me to check on my seedling trays (I decided to save costs by growing my own food...well, some of it). So, I moseyed over and squealed with delight. My little seedlings have sprouted! Woot!

Growing your own produce is a great way to go green  (and save a little green, too). Getting some of your food from your backyard — or a pot on your balcony for that matter — means less food needs to be trucked from an outside location to your grocery store.

Just the other day I got some great tips on green gardening from the Sioux Falls Green Project , a project geared at educating the community on how to build a greener future. Here are a couple of the basics I learned:

• Grow native plants. By growing plants that are already accustomed to the area, they'll need less fertilizer and water. Check with your local Cooperative Extension office  for resources on what plants are native to the region.
• Use compost  instead of buying fertilizers full of chemicals and pesticides. There are tons of spendy contraptions to help you compost, but it doesn't have to cost anything. Even just a pile of grass clippings, dead leaves and kitchen scraps will turn into compost. Or if you can't make your own compost, see if your city offers free compost (Sioux Falls does).
• Water your plants with rainwater run-off. I am super intrigued by the idea of using a rain barrel. This is a great way to save on your water bill. Some of my favorite bloggers  recently made their own rain barrel.  (Come to think of it, they've also been composting! )
• If you don't have a backyard or a balcony for a garden, see if there is any space available in a community garden.

As I dive into greener gardening, I'll be sure to keep you updated. Once my green garden is flourishing, perhaps I'll have to add a statue of the Marble Faun (props to those of you who got that Grey Gardens  reference!).

Rachel

A few years ago when I was a banker, a high school student came in looking for help. He was freaking out because he had overdrawn  his account again and his dad was going to take away his car. "You have to help me!" he pleaded.

Oh, to be in high school again and have the threat of your car being taken away. People, listen: Of all things to have your car taken away for, banking trouble should not be one of them. You got this. Here's what you can do.

1. Make sure you have overdraft protection set up. When you spend more than you have in your account and you have overdraft protection set up, money can be automatically transferred from your savings account or credit card to your checking account to cover whatever you bought. This transfer costs money but it's less than a full overdraft charge. But don't let it come to this. You still have to replenish your savings or pay off that charge to your credit card after the fact. Do what you can to prevent this from happening altogether.


2. Play a little money mind game with yourself. For most of us, if there is money in the account, we're going to spend it, right? And if you only have $5 left in your account until Friday and you really want that Red Bull , you are going to justify the purchase. Here's what I used to do: When I opened my checking account with $100, I considered my account at zero. I pretended that $100 = $0. That way I always had an emergency cushion. When I say pretended, I mean it. That $100 in my checking account was invisible to me. Very rarely did I let myself go below the $100 and when I did, it was usually for something "really important: the day before payday.


3. Set up a text message alert to send when you enter the danger zone. You can get a text you when your account gets down to a certain amount, whatever you designate.


4. When in doubt, send a text to check your balance. This way there is no guessing or assuming and you know exactly where you stand.


5. And of course, be sure you are logging in to online banking as often as you do Facebook.  Knowing what's up will help you stay out of trouble, at least with your bank account.

Caroline

I hate to contradict Shakespeare, who said "Neither a borrower nor a lender be."  But I'm going to make the case for borrowing (and lending) stuff.

When times are tough and everyone's trying to save money, borrowing and lending things among friends is a great way to save money, if you're smart about it.

So how can you be smart about it? Glad you asked!

First, know what you will not, on policy, ever lend: more money than you're willing to lose (that should be about $5-$10 if you're a college student!), your car, or other high-ticket items, like your laptop, iPod, etc. Once you've made it your policy, it's easy to say, "Sorry, I don't lend out my (insert item here)."

Now, what items are good to lend/borrow? From friends, borrow things that you can easily trade back and forth, that neither of you wants to spend money on: movies , books, CDs, clothes — that kind of thing. When I was in college, I quadrupled my wardrobe of miniskirts, "MC Hammer  pants" and boyfriend jackets simply by sharing with a few close friends.

Note I said "close friends." When you decide to start borrowing and lending stuff, keep your circle pretty tight. Don't lend your fave sweater to just anyone in the dorm, or you might not see it again. Or it might be a size too small when you do.

And don't be afraid to put your name on your movies and books to ensure that you get them back — even from well-intentioned friends. I borrow the latest bestsellers  from my sisters all the time, and I'm glad they stick return address labels inside, so I always know where to return them.

So, while it makes sense to borrow small things, what about bigger things? I would stick to family for this kind of stuff — but it's definitely a good idea to try out an expensive item before you invest in it for yourself. Maybe before you buy a bike, try out the one with flat tires in your brother's garage, to see if you'll really use it. Not sure if you need a food processor? Borrow the one your mom hasn't touched in ages. Personally, I wanted to start sewing  and considered buying a cheap machine. My sister piped up that she never uses hers, so I am currently borrowing it — saving myself the $75 I'd have spent on a basic model.

Once you get started, be a good borrower (Staci will laugh at this, as I once held a book of hers hostage for over a year). Return things promptly, in the condition you found them. And be willing to lend stuff back.

Do you think it's a good idea to borrow things to save money? Or did Shakespeare have it right?

Staci

College students are well-known for their frugal habits. Ramen noodles , anyone?

But in a recession, everyone can take a page from college students, who know how to have fun on the cheap.

I'm taking a page myself. After four months of making double mortgage payments (and no offer in sight on my old house), I've had to adjust my own spending habits. Things that seemed essential in better financial times — like my HBO  subscription — suddenly find themselves on the chopping block.

But giving up Flight of the Conchords  doesn't mean I have to give up entertainment altogether. I recently discovered Redbox  $1 DVD rentals at my local grocery store. A buck plus tax will get you the latest new release for an evening, provided you return it the next day. You can return the DVD to any Redbox location — it doesn't have to be the same one you rented from — and you can reserve DVDs online ahead of time, too. Plus, since you're already at the grocery store, you don't have to make an extra trip!

Sure, Redbox isn't the only service of its kind out there. My best friend Charlie swears by Netflix  because he doesn't even have to get out of his pajamas to watch movies — the DVDs are delivered to his door or he can watch them instantly on his laptop. The selection is greater, too. But that requires a longer-term commitment, not to mention more than just one dollar.

In this economy, are you changing your entertainment habits in any way?

By the way, I'm drawing the line at ramen noodles. I ate far too many of them in college!

Barbara

The Facebook  status updates are overwhelming me: "So-and-so has two more weeks until spring break," "So-and-so is dreaming of spring break," "So-and-so can't wait to spend spring break on the beach."

Sigh. I wish I had a spring break. But since I don't, let's talk about your spring break. Ah yes, the yearly tradition where many college students head to more fabulous locations to escape from their college obligations, if only for one week.

Are you taking a big spring break trip?  My guess is that in the current economy (groan, I hate talking about it) some of you may be scaling back your spring break plans.

Perhaps you are thinking about some less expensive alternatives?  If so, you may have considered:

• Staying local and exploring what your city has to offer 
• Driving instead of flying 
• Packing your own food  in a cooler rather than buying it along the way (remember snacks , too)
• Finding a campground  or staying with friends/family to save on lodging
• Going on a service trip instead 

Choosing a less expensive alternative can still be just the getaway you need to come back to school refreshed and ready to finish out the year strong. Plus, a lot of times, it's more about the trip with good friends than the actual destination.

You tell me: Is a big spring break trip still the plan for you? And if you are planning an inexpensive alternative, share your plans.

Barbara

As my father told me after my last home emergency, "Houses can sometimes be a money pit." Cue next home issue.

After Christmas, I decided that the wallpaper and bright green paint adorning my bathroom walls were meant to be left in 2008. It was a simple cosmetic fix. Well, it was until I got to the area around my tub and found moldy, wet drywall beneath the wallpaper. Awesome. New drywall and shower, coming up! Emergency savings, going down!

But through this tragedy I learned a valuable lesson: If you are able, do it yourself.

Yes, I still spent a pretty penny for professional drywallers and plumbers to ensure the work was done correctly (those are not DIY skills I possess). But by putting in a little sweat equity  when it came to demolition, I saved hundreds of dollars. I can tear down a defunct shower surround and rip out moldy drywall with the best of 'em!

The DIY mentality not only applies to home repairs, it also can come in handy during your college years (pre- and post-college, too!). Ask yourself how many times you pay someone else to do something you could've done yourself. Or how often do you pay for something new when you could've repaired the old item?

Here are some examples of what I mean:

• You may not be the best cook in the world, but does that mean you should eat out all the time? A little do-it-yourself cooking  could save you a bunch of money.
• What about clothing? Wouldn't it be easier to fix a ripped seam or hem in your pants rather than shelling out moolah for a new pair? Better to spend a few dollars for a needle and thread. 
• Applying for financial aid? Instead of paying someone to file your FAFSA, DIY! The same goes for taxes — go online and file for free.

Does the DIY mentality work for you? Tell us what you've done yourself (or would like to do) to save money.

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?

Caroline

In a year when nearly everyone is looking for ways to pinch pennies, be sure you don't overlook opportunities to save at tax time.

There are several valuable tax credits and deductions available to college students and their parents. We've put together an online guide to give you a brief overview of what's out there. Be sure to check it out to see if you qualify.

If you've got questions about filing taxes, check out this article.  It's got some great tips and advice — like to coordinate with your parents on filing to ensure your family maximizes its opportunities.

Of course, remember that we are not tax advisors, so be sure to check with your personal tax advisor with specific questions about your situation.