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Working towards concurring This Money Thing.

If you’ve been reading my blog, you’ll notice I talk about This Money Thing pretty frequently. Well, what exactly is that? I consider earning money and what you do with your mullah This Money Thing. That includes earning the money, budgeting it, saving it, investing it and making it rain. Really, anything that has to do with you and your money is the Thing. 

I’m continually trying to figure it out and figure the best way to maximize my wealth. I refuse to have the “broke college kid” mentality and I don’t want to wait until I’m 70 to retire. I want to have a full, adventurous, crazy, generous and comfortable life. I want to be able to help people out when I want to. I want to raise my kids the way I want to, without limitations as ridiculous as money. 

I watched my parents come from low to middle class incomes and grow their empire. So growing up, I was quite used to the frugal life; then as I got older, we had a bit more cushion. Yet in the midst of all this, I don’t feel as though I properly learned how to handle money. Since I can remember, I’ve been working on figuring out and concurring This Money Thing. And now, I have you wonderful people to share this journey with!

Keep growing.


-College Cents
Stop over spending on groceries!
This summer I was living on and also budgeting on my own. My budget reflected that most of my money was going towards groceries. I try to eat healthy and the fact that most of my produce was going bad before I could eat it just added to my distress of over-spending on food. Not to mention, I would eat out all of the time to socialize with friends. Even so, once I minimized the eating out expense, I still overpaid for groceries.

Since summer, I have changed some of my habits and I am continually getting better at minimizing my costs at the grocery store. However, this can be difficult when you’re also learning to cook. But, one challenge at a time.

If you know me, you know that I am a Pinterest addict. Some other Pinterest addicts include moms and teachers, both groups that seem to have mastered the art of frugality. This mom has a blog post that I love to use when planning out my meals.

·       Grocery Shopping on a Budget
  • Make a weekly menu
  • Make an precise items list
  •  Don’t over buy (especially produce)
  •  Buy a few things for your menu, then commit to it.
  •  Coupons rock if you know what you’re looking for (Walmart price matches EVERYTHING. Keep that in mind.)
  •  NEVER shop when you’re hungry


Keep growing.


-College Cents
Budgeting is key to financial success. Check out these budgeting tools!

Budgeting is a marathon, not a sprint. It never goes away, so the sooner you get it under control and get the hang of it, the better. You don’t have to figure this out all by yourself, though. Below are the two best budgeting tools that I’ve found so far. Let me know in the comments what you’ve found!

Mint.com
This was originally a website (and still is) but it is also now an app that helps you set budgets. This is beyond cool because you connect it to your bank account so it updates your budget automatically (it’s secure, you can do your research and confirm, but it is). You set weekly or monthly budgets for how much you want to spend on food, clothes, rent, etc. You also make a savings plan! I love this app!

College In Colorado
This is a site put together to help students get on top of their Money Thing. This link takes you to a budget worksheet (which you can download as an excel file) that is super inclusive and covers a lot of categories to help you plan out your budget. I found this entire site to be incredibly helpful. You should definitely check it out.

How you manage your money is what will make you financially successful! Keep learning!

Keep growing.


-College Cents
Good credit is essential to big life purchases, like cars and homes. 

Credit cards can be scary and dangerous, if you’re not educated. However, they are one of the best ways to grow your credit. Why do you need credit? If you want to buy a house, you need credit. If you want to buy a car, you need credit. If you want to start up your dream business and take a loan from the bank, you need credit. See the trend here? Credit is essential to being a grown up. Just make sure to do your research before embarking on building your credit.

Student Credit Cards
These are made for new cardholders to establish credit, such as a college student. Be sure to search for one with no annual fee and added perks (late forgiveness, cash back, travel points and other rewards).

Annual Percentage Rate (APR)
This is the amount of interest charged to you when you carry a balance from month to month. The lower, the better.

Fees
There are different types of fees, and this is where credit card companies usually get you. The biggest one to try to stay away from is the annual fee. Also look for additional application and processing fees. I’m telling you, they try to get you!

The world of credit cards is expansive-so definitely do your homework!

Keep growing (your credit!).


-College Cents
Increase your income by doing what you love.

The first part of the Magical Formula for Financial Successincludes maximizing your income. Yes, I’m recommending you get some side gigs. This doesn’t have to be a chore, though! I’ve done a number of random, crazy, fun jobs on the side for extra cash. My dad always said that Jay Leno taughthim something about making money. Jay made a comment once on his show about how you should try to pay your bills with your hobbies. This has stuck with me and I’ve tried to live by it. Here are some ways to start making money with a fun side-hustle.

My Money-Making Hobbies
Freelance Social Media Contractor – I create social media campaigns for companies to increase their audience engagement, awareness and website traffic.

Zumba and Pound Fitness Instructor – For 4 years now, I have been teaching Zumba while going to school. This one not only makes me money, but it keeps me in shape. I know

Weekend Photo Booths – Whenever my contact needs me, I will take a few hours out of my Friday or Saturday night to set up and run a photo booth at weddings or events. I get to work with some cool people, I get delicious catered food and it’s an easy hundred dollars just for giving up one night. I highly recommend finding an opportunity like this in your area.

Other Ideas
  • Starbucks barista (you know I love my coffee!)
  • E-commerce (blogging, vlogging, etc.)
  • Freelance
    • Writing
    • Photography
    • Graphics
    • Logos
    • Social Media Campaigns

What do you do for extra cash? Share your ideas in the comments below!

Keep growing.

-College Cents
Grants and scholarships are available for college students too! Jump on this!

Many people think that scholarships are for high schoolers trying to finance their college career. However, many college students don’t know that you can still apply for scholarships and grants while in college! 

Do you know the difference between scholarships and grants? Grants are free money given by organizations or families; usually they target a specific demographic. Want free money? Write down all the different demographic groups that you fall in (really think outside the box for this one) and do some research. There may be grants out there just waiting for you to claim them. Scholarships, on the other hand, are usually based on merit or a contest of some sort. Often, but not always they involve essays, so channel your inner author and go to town! 

As a side note, I would be careful with scholarships that simply require you to enter into a contest. Often, you never hear back from them (or you do, but with spam mail) and now some random company out there has all of your information.

Sites that are actually great for finding financial help in college:
  • Salt.com
  • Zinch.com
  • Fastweb.com
  • SchlarshipPoints.com
  • Cappex.com
  • Scholarships.com

*Can’t stop, won’t stop. Gotta make those loans drop!*

No? Too far? Okay, moving on.


For more info about these sites and more, check out this article from USA Today’s article, The 10 best sites to look for scholarships: http://usat.ly/1fSwUhb.

Do you have helpful grant and scholarship resources? Share them with us below! 

Keep growing. 

-College Cents
Dig deeper and learn from the finance experts. 

Want more financial advice from proven finance experts? Check out these books.

Rich Dad Poor Dad
By Robert T. Kiyosaki
This book talks about the mentality of wealthy people versus the mentality of the poor. I wholly recommend this as the first finance book you read, because it sets up the framework that you need to figure out this Money Thing.
Learn more: http://bit.ly/1WVkvZr 

Think and Grow Rich
By Napoleon Hill
I love this one because it gets my creative juices flowing and it shows how you can think outside the box to increase your income. (Remember the Magical Formula for Financial Success: maximize your income and minimize your expenses.)
Get it: http://amzn.to/1Y8aWsw

The Richest Man in Babylon
By George S. Clason
Small book, quick read. It tells most of its lessons through stories that are easy to understand and follow. My favorite lesson from this book is “Ten percent of all you earn is yours to keep,” followed by “Don’t by jewelry from the brick maker.”
Get it: http://amzn.to/1NOHxk1 

Rich Bitch
By Nicole Lapin
My recent read, this book breaks down finance applications that are in simple language and most importantly, applicable to this generation’s lifestyle.
Learn more: http://bit.ly/1EgUIWQ 

What books or resources have helped you grow your wealth? Please comment below and share with us!

Keep growing.


-College Cents