Latest Posts
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
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
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
Ten percent of all you earn is yours to keep.

My dad was always pushing me to read finance books. At 9 years old, he pushed me to read The Richest Man in Babylon by George S. Clason. I was laying on my bed, reading the little book when I came across an interesting concept. It said, “Ten percent of all you earn is yours to keep.” I also remember thinking “Well, DUH it’s mine to keep. I made it in the first place.” With this in mind, I asked my dad about it, which spurred an interesting hour-long conversation on money matters.

He pointed out that while we receive all of our paycheck, we then turn around and give it to various people: the Starbucks barista, the grocery store, your university, etc. When he put it that way, I felt completely robbed! Everyone ELSE was getting my hard-earned money! Then it made sense.
Ten percent of every single paycheck is yours to keep. Save it, or make it grow by investing it. Either way, it’s yours for the keeping.

Do you agree with the 10% amount? Do you do something different or better? Let us know with a comment below!

Keep growing.

-College Cents

PS

Get the Richest Man in Babylon at Barnes and Noble for under $2: http://bit.ly/1lmssuS  
Investing is a time game; the sooner you get started, the more your wealth can grow!

Many college students aren’t investing because they don’t think they have to worry about it yet –retirement is a long ways away. However, I would challenge those with that mentality: think bigger. Investing isn’t just for the purpose of having money when you’re at the tail end of life –it’s so that you can live life bigger. There’s so much you can do with your investments!

  • Go on life adventures: sky dive, hike the Appalachian trail, go cave diving.
  • Start your dream business.
  • Grow your family (or start one!)
  • Travel around the world. (Where would you go?)
  • Buy a fun toy (I’d buy a speed boat for water skiing)!

Depending on what medium you choose, investing is really a time game. Patience is a virtue, as they say. But let me tell you how I look at it. If you’re doing This Money Thing correctly, you should be putting money away for savings anyways. Well, you’re money can either sit in a bank and maybe collect 1-2% interest. OR you can invest your money and let it grow at a higher rate. So the choice is yours: will you let your money grow and work for you, or will you just let it sit?

Your main investing options include:
  1. Stocks
  2. Bonds
  3. CDs
  4. Mutual Funds (These like a basket of different investments.)
  5. Real Estate
  6. Gold, Silver, Options or other Alternative Investments

Do you have any experience with these? Share it with us below! If not, what would you do with your investment funds? Please take my  investingpoll (all the way down at the bottom of the page)!