It's hard to avoid all the bad economic news  these days. College students, I wouldn't blame you if you're nervous about leaving the safe confines of campus. The real world isn't looking too inviting these days.

So with a rough economy, are you considering grad school as — and forgive me as I pull from the headlines here — a bailout plan?

I found a great story  on NPR on this very topic. It pretty much confirms my opinion on the subject: Going to grad school just to ride out the bad economy or because you don't know for sure what you want to do is not such a good idea.

However, if you do know what you want to be when you grow up, and grad school is a means to get there, then certainly, go.

I know it often feels like the smarter choice to stay in school rather than graduate with a bachelor's degree , only to find yourself still working at a coffee shop or taking some other job that doesn't require a $75,000 education.

But the truth is, if grad school is just a chance to bide your time and figure out your goals, then you're better off getting a job — any job — than taking on more debt.

What do you think? Is the state of the economy impacting your choices as you prepare to graduate from college?

Posted by Caroline at 10:00 AM |  Contact Caroline |  Permalink  |  Comments (1)
Found in Back to school, Debt, Financial education, Graduate school, Jobs, Paying, Wells Fargo Bank

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

It's payday today.

I always know when it's payday. It's the curse of a young professional with financial OCD (and usually a fairly low checking account balance).

A couple Fridays ago, Staci and I were heading out to enjoy some lunch together. I mentioned that I could go somewhere a bit more spendy since my cash flow wasn't as tight thanks to payday. To that, Staci responded, "Oh yeah, I forgot it's payday."

And with that response I mentally put a milestone on my financial roadmap. It's a bunch of financial accomplishments that I'm looking forward to reaching — like buying something at Nebraska Furniture Mart without financing.

The new milestone: Not knowing if it's a payday Friday.

When I reach that point, I'll know that my money isn't as tight and I won't worry as much about little things throwing a kink in my budget.

Reaching those financial milestones, even though they may seem tiny, can really boost your confidence in your financial future. If you're like me, hitting those places on your financial roadmap can be just the motivation you need to keep on truckin' toward the next goal.

What are your financial milestones? Paying off loans? Savings goals?

Posted by Barbara at 10:00 AM |  Contact Barbara |  Permalink  |  Comments (3)
Found in Budgeting, Checking, Debt, Financial education, Money management, Paying, Saving, Wells Fargo Bank

We've talked in the past how valuable internships can be. This summer I got the chance to meet a super-cool student who got a head start when it comes to internships — in high school.

Jacob Jackson is now a senior in high school here in Sioux Falls, and he was an intern at Wells Fargo this summer. An internship in high school...how awesome is that?

Jacob is in a program through his school called the Academy of Finance . Students in the program take classes throughout their junior and senior years that deal with business and finance. Then, during the summer they apply for paid internships that put their knowledge to use.

Plus, they get college credit! When he's done with the whole program, Jacob will have around 16 credits to take with him to college.

Before Jacob left to head back for his senior year of high school, I got the chance to talk with him about his experience and what he was taking away from his internship and the program.

At first, he told me he wasn't very keen on the idea of participating in the program. His aspirations were leaning more toward the literary world than the financial realm in becoming a writer or novelist. Jacob didn't think that the experience would change his plans, and it may not have, but he definitely gained some perspective on his different options, like one day running his own business.

And his internship offered more perspective. In addition to his daily work, Jacob got see how the business ran from start to finish. He spent time with each group learning what they do and how it affects the business. Particularly, he found himself interested in Marketing and is considering that as a college major.

Another benefit of his work at Wells Fargo: learning about student loans. Before starting work here, Jacob had no idea about how student loans worked. Obviously this isn't a perk of all early internships, but it's helpful nonetheless.

Have any of you readers participated in or heard about similar programs? I'm curious what you learned or how the experience changed or affirmed your future plans.

Posted by Barbara at 10:10 AM |  Contact Barbara |  Permalink  |  Comments (2)
Found in Academic Credit, College, Financial education, High school, Internships, Money management, Student loans, 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