On Sunday I went to the ATM, which I usually do in order to have some cash for the week. After I'd gotten cash, I went to put away my debit card and noticed that I had a check from my best friend Charlie to deposit. So I put my card back in the ATM, completed the deposit, took my receipt, and drove away.

Without my debit card.

Half an hour later — while in the grocery store checkout line — I opened my wallet and realized what I'd done. I paid for my groceries with the cash and flew back to the ATM to see if my card was still there.

It wasn't.

Panicked, I called the Wells Fargo Phone Bank to cancel the card. Fortunately there hadn't been any charges on it, but it was going to take five to seven business days to get a new one. Then I really panicked. How was I going to function for that long without my debit card?

For me, check writing has gone the way of the dinosaur . I'm lucky if I write one check per quarter, and that's usually only for some rare service that doesn't take online payments. But I don't think I'm alone — some new checking accounts no longer come with paper checks. And many retail establishments don't even take checks anymore.

Even if I have become overly dependent on my debit card (is there some sort of twelve-step program  for that?), for the next five to seven business days I will have to be creative, patient, and frugal — or resort to writing a check or two. Barbara would probably argue that this is a good lesson for me: forced thriftiness!

What payment methods do use most often? Are you as addicted to your debit card as I am?

Posted by Staci at 10:10 AM |  Contact Staci |  Permalink  |  Comments (8)
Found in Banking, Checking, Debit cards, Financial education, Money management, Paying, Shopping, Wells Fargo Bank

I was listening to NPR  the other day and heard this story  about students downloading their textbooks from the Internet. It's not legal — similar to downloading music from unauthorized places — you can't just take copyrighted material without paying for it.

Downloading books is something that never occurred to my 37-year-old self, but I can understand the temptation. I've written before about the expense of college textbooks. And again this semester, my stepdaughter spent about $540 on her books.

Making textbooks available electronically makes sense to me. It would save trips to the bookstore, reduce paper waste, and relieve students of having to lug around (and store) heavy books.

Based on the article, it sounds like some publishers are beginning to offer digital versions of their textbooks at discounted prices.

Is this something you would consider instead of purchasing books the traditional way?

Posted by Caroline at 10:40 AM |  Contact Caroline |  Permalink  |  Comments (2)
Found in College, Paying, Saving, Shopping, Wells Fargo Bank

A few weeks ago Staci blogged about back-to-school spending and how students and parents will spend less this year than in previous years. Sounds like everyone is trying to save money these days!

If you're among them, did you know that if you have a Visa card, you can get exclusive savings, tips, special discounts, and more on the Visa website? 

Just click on "Personal" and select "Visa Student" to find:

• Student savings, discounts, and offers from online places you love to shop

• Helpful credit management tips

• Advice on planning and living within a budget

Go check it out — you might find yourself a deal and learn something besides!

Posted by Dinna at 10:00 AM |  Contact Dinna |  Permalink  |  Comments (0)
Found in Back to school, Budgeting, College, Credit cards, Financial education, Money management, Parents, Saving, Shopping, Wells Fargo Bank

Editor's Note: It's inevitable, Student LoanDown readers...school is about to start! In the next three posts, Barbara and Caroline — who have many years of roommate experience under their belts — share some tips on how to make dorm and roommate living a little more chic, comfortable, and fiscally responsible.

At back-to-school time, I usually have mixed emotions. Much like Staci, I love seeing the new school supplies in the aisles of the big-box stores. But I'm less excited to start seeing ads for an array of color-coordinated dorm accessories.

Room decorations and necessities can be a big clash between roommates. Have you had the talk with your roommate about what you need/want in your room? Make sure you consider your budget when you do!

You want to make your dorm room a comfortable, functional space. However, especially in these tough times, you don't need to break the bank to do it. After all, once you factor in studying in the library, participating in clubs, socializing with other students, etc., you might not even spend that much time there!

I'm a big believer in budget solutions to create what you need. (I heart watching Decorating Cents on HGTV and perusing thrift stores  and garage sales...including Staci's free sale.) So, here are some ideas to keep the dorm room essential costs down.

• Furniture — While coordinating papasan chairs may seem like a necessity, you can spice up a dorm just as easily by covering a second-hand love seat or recliner with a tapestry or even an extra bed sheet. Going frugal on furnishings doesn't mean compromising style. You can always bring in a funky retro item or personalize something with your own taste.

• Accessories — Just like with furniture, there's no need to buy all new accessories. Here's a great place to show a little ingenuity with some do-it-yourself projects. Check out DIY sites like Instructables  for ideas.

• Appliances — Instead of getting brand-new gadgets for your room, check with relatives or at garage sales to score inexpensive (or free!) necessities like a toaster, microwave, etc. Also, make sure you know if your dorm has a kitchen available for you, so you don't buy something you may already have access to.

• Space and storage solutions — If space is an issue in your room (which, let's face it, is the case at most colleges) check with older students to see if they have any lofts, shelving, or organizing units they are trying to get rid of. Students moving out of the dorms might have already created a solution that could help you.

What other tips do you have for furnishing your dorm room the frugal way?

Posted by Barbara at 10:00 AM |  Contact Barbara |  Permalink  |  Comments (0)
Found in Back to school, Budgeting, College, Money management, Preparing, Saving, Shopping, Wells Fargo Bank

These days you can't open a newspaper, click on an online news site, or turn on the television without being bombarded by reports on the state of the economy. I'm not sure if it's as bad as the news reports make it out to be (is it?), but I've gotten to the point where I have to tune it out. If I don't, I start to panic.

Even with the news spouting doom and gloom, time marches on. And now that it's August, you may be getting ready to go back to school or head off for college for the first time. Either way, the gear to get you settled comfortably in your dorm room — the laptop, the mini-fridge, the coordinated bedding with twin extra-long sheets — doesn't come cheap. Of course, these are extras that come after you've already paid for the essentials: tuition, room and board, and textbooks.

Recently the National Retail Federation released their annual survey on back-to-college spending , which — like everything else — has been impacted by economic issues. According to their figures, back-to-college consumer spending will drop seven percent this year, to just under $600.

But parents have the real say in these matters, since they're usually the ones paying for it. Earlier this week, I was chatting with a co-worker who is about to send his eldest daughter off to college in Minnesota. He'd found a carpet remnant for her dorm room at a home improvement store for a song — but it took some convincing before his daughter agreed to it. Ultimately she, like many college freshmen, knows that beggars can't be choosers! 

As you ready yourself for college, what adjustments have you made in your spending? Are you finding yourself being more frugal, or aren't you worrying about it?

Posted by Staci at 10:55 AM |  Contact Staci |  Permalink  |  Comments (1)
Found in Back to school, College, Money management, Parents, Paying, Shopping, Wells Fargo Bank

This weekend is our annual "Sales Tax-Free Weekend"  here in Iowa. Is yours one of the many states  that offers this special shopping weekend?

In a year when practically everyone is trying to trim their budget, this sounds like a great deal. But personally, I avoid the "tax-free" weekend like the plague. I shopped on that day a couple years ago, and the mall was more ridiculously crowded than it is two days before Christmas. Not my idea of fun.

Plus, I can't get around the fact that the savings of 6-7% that you get with a sales-tax holiday isn't all that much of a savings. After all, most clothing and shoes go on sale for 15-25% off or more at some point. If you're only saving the sales tax, you're better off waiting for a real sale, when the markdowns will be higher.

But there is something to be said for the tradition of "back-to-school" shopping — and if you're the type who thrives on the crowds and gets the urge to revamp your wardrobe in the fall (even if you're in college), then the tax-free weekend is probably right up your alley.

What do you think about tax-free weekends? Are they a good way to save?

Posted by Caroline at 10:00 AM |  Contact Caroline |  Permalink  |  Comments (0)
Found in Financial education, Money management, Paying, Shopping, Wells Fargo Bank

My something finally arrived!

Now it’s time to share my Somethingstore.com  package unveiling with you. I know you've waited with baited breath to see what I got, so check out the video to watch me open my something!

Posted by Barbara at 11:00 AM |  Contact Barbara |  Permalink  |  Comments (2)
Found in Budgeting, Shopping, Social networking, Wells Fargo Bank

Every once in a while I make an online purchase so good that I track its movement almost ritualistically. For example, when my new iPod Nano  was on its way, I hit up the FedEx package tracker  on pretty much an hourly basis to watch my new gadget travel from China to South Dakota (with stops in Alaska and Kentucky along the way).

I’m currently tracking something else, and my excitement is palpable. I seriously can’t wait for my something to get here. And literally I mean “something.” The package is coming from the Something Store .

Now, you know I’m trying to be good about frivolous spending, but when I heard the story about the Something Store on NPR , I just had to try it. So here’s my endorsement for one-time frivolous spending … with a $10 cap! :)

The anticipation of what my something is has been worth the price! The store offers you a chance to see recently shipped somethings  to get an idea of the kinds of items they send. I’ve been checking it regularly and guessing what my something will be. Fingers crossed for an auto emergency kit.

Of course I’ll let you know what my something is once it arrives! Hopefully it will be here soon.

Yay, surprises!

Posted by Barbara at 10:38 AM |  Contact Barbara |  Permalink  |  Comments (0)
Found in Budgeting, Money management, Shopping, Social networking, Wells Fargo Bank