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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
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
Create a timeline and manageable goals to pay off your student loans quicker!

Some of my graduated friends are paying off their school loans within 2 – 3 years and they have shared how they do it! My personal goal is to pay off my student loans within 2 years of graduating, and I’m eager to get on top of it now rather than later. After talking to my financially intelligent friends, this is what they recommend:

1. Pick up side-hustles.
This doesn’t have to be a chore – get creative to find something you’re interested in! This could be a weekend gig or an in-between class type of job. Whatever you can do to increase your income definely helps your financial status –it’s the fist step. The next step mastering how you take care of your money or make your money work for you. But we’ll get there.

2. Skip the Extras
This is everybody’s least favorite part of paying off loans (besides giving gobs of money away at a time). I firmly believe that you don’t have to skip your daily coffee to be financially successful. However, in this particular stage of your journey to wealth, you have to pack lightly –which means make your own coffee for a while. Here’s some ideas to lower your expenses:
  • Get rid of your premium account on Spotify.
  • Do your own manicures.
  • Try tanning lotion rather than a monthly tanning membership.
  • See if a parent will contribute to your financial success –ask them to pay for your Netflix.
  • Ditch cable – get Netflix or Hulu.
  • Ride your bike or walk when possible 
  • DON’T EAT OUT (so much)! Start saving on groceries.
  • Comment below with more ideas!
3. Get a Roommate
If you’re following the Magical Formula for Financial Success, you’re trying to maximize your income and lower your expenses. A huge way to save on your monthly spending is to find a roommate. A great website that connects you with potential roommates is http://www.roommates.com.

4. Make money while you sleep.
There are TONS of ways to make money online, and my favorite is the idea of making money while you sleep. If you create a blog, video, membership site or downloadable file (such as an e-book or PDF), people around the world are viewing your content and making you money. Find what you have that others want and sell it online.

5. Pay off your subsidized loans first
The difference between subsidized and unsubsidized loans is that the government is paying the interest for you while you’re in school with subsidized loans. With unsubsidized loans, the interest keeps accumulating while you’re in the classroom. These are the loans you want to pay of AS SOON as you can.


All of these tips are simply creative ways to follow the Magic Formula for Financial Success. Have you found more ways? Share it with us all in the comments below!

Keep growing.

-College Cents
Photo found on http://bit.ly/1WsMeWs 
There is one formula that, should you follow it, will GAURANTEE that you will never go in the red. It may seem like common sense, but nearly 30% of Americans are in debt, according to CBS News. Are you ready? Here it is: make sure your income > expenses. Tah –dah! Don’t spend more than you have. I don’t mean to come off as mocking, but while this may be basic knowledge, an incredible amount of people don’t follow it.

Do you need the $40,000 car when you only have $10,000 to spend? (The answer is no, if you are serious about this Money Thing.) When you borrow money, what you owe is never just the sticker price, but a ridiculous amount more, because of the interest rates. This is how people fall into thousands and thousands of dollars of credit card debt. (However, credit cards aren’t evil! In fact, they’re incredibly helpful, when used right). Basically, if you don’t have the money already, don’t spend it.

If you’re like me, at a college that you couldn’t afford on your own, then you have some debt. Don’t worry, we’ll talk about that too. I just want to set up a basic framework for how we are going to look at this whole Money Thing. Getting out of debt is step one. Step two is using the magical formula to never be in debt again. Finally, we’re going to look at how to make your money work and grow for you. Today’s formula was common sense; but we’re in this for the long haul – college cents. 
Photo by http://bit.ly/1NjYeDG













Hey there, welcome to College Cents! I’m Cylie and I’m not sure about you, but I refuse to submit to the “broke college student” mentality or possible reality. Having to say no to friends or scraping up loose change for laundry money is NOT how I choose to live. No way, Jose! I’m working on figuring out this whole money thing and making it work for my generation’s lifestyle. What worked for our parents or grandparents might not be ideal for us. One of the classic pieces of advice you’ll hear is “for a latte a day, you could become rich!” I get the concept. I do. Save a little a day and BAM! All of a sudden you’ll wake up one day with more than if you didn’t. It’s not that deep. But…I like my Starbucks? What about me? Do I have to give up my White Chocolate Mocha to achieve all of my financial dreams? I think not.


I’m here in search of what works for our generation to be financially literate and wealthy. Through train and error and learning from others, I believe I’m getting there. In fact, I will graduate with less debt that a new car after attending a private university for four years, with a sticker price of $40,000 per year. With limited financial assistance, I’ll be debt free in less than 2 years after I graduate. This isn’t meant to brag – in fact I’m sure many of you have done it better (tell me your ways!). But I want to share with you what I’ve learned, and what I’m continually learning. More than that, I want to hear from you! How are you conquering this whole money thing? Money can be tough, but I’m here to help it make sense. College Cents.