5 Routine Home Maintenance Tips to Save Money and Aggravation

By MJ Plaster

No one wants to do it or pay for it, but a dollar saved on home maintenance is not a dollar earned; it can be many dollars lost. Follow along and mark your calendars while you learn a few tips the pros and salespeople would prefer you didn’t know.

Keep drains clear – I recently had a clogged kitchen sink drain that nothing—from vinegar, baking soda and boiling water to sulfuric acid—would clear. After the plumber snaked the pipe for $80, he told me to squirt a little dish washing liquid into the drain and run hot water for a minute after I finish washing dishes every day to keep fats from solidifying and clogging the pipes. For a few pennies a day, it should keep the pipes clear indefinitely.One day I saw this odd-looking thing called a Zip-It at Ace Hardware. With $4 added to my tab, I headed home, squirreled it away, and forgot about it until my bathtub drain started to slow. I shoved the Zip-It down the drain into the trap. When I tried to remove it, it didn’t budge—not an inch. It was an OMG moment—what’s this going to cost when the plumber comes? So I pulled harder, and harder, until bit by bit, I removed the device along with a huge wad of gunky, shoulder-length, brown hair. The drain opened, and that $4 piece of industrial-strength plastic has removed the “same time next year” date with the plumber from my calendar now that I use it every month without fail.
Change or clean heat and a/c intake filters – Bob Vila says, “The primary purpose of a filter is to protect HVAC equipment, not to improve indoor air quality, as many homeowners have been led to believe.” Vila also warned that filters that are “too good” at keeping the air clean can also damage HVAC systems. If you want cleaner air, buy an air filter, don’t upgrade your HVAC filters. To keep my intakes clean, I purchased one permanent filter and one disposable filter for each intake, and I use the disposable filters each month while I clean the permanent ones. Today’s permanent filters cost only about three time the cost of a disposable filter, so after three months, you’ve made your money back and eliminated monthly expenditures on filters. If you have pets, vacuum the grill covering the intake once a week. Flying fur from longhair pets can block the grill and obstruct the exchange of air in a week.
Protect your water pipes – Invest a dollar in a Styrofoam cover for each outdoor faucet. Install them at the same time you disconnect and store your hoses for the season. And when you get a hard freeze, don’t even entertain the thought of saving a few cents by not letting your water drip indoors. You’ll be sorry when the pipes burst and flood your home.
Replace fire alarm batteries – Many smoke detectors operate with 9-volt batteries. Who stocks those at home? No one! A few years ago, the battery in one of mine died during an ice storm—beep, beep, beep at an ear-piercing level—for days. But what if the battery is still good? Change it anyway. While you’re at it, change the batteries for your fan remote controls each spring and for your gas and electric fireplaces each fall.
Clean you gutters and downspouts – Last fall, I didn’t have the gutters and downspouts cleaned. Big mistake—one day during a week long, below-zero-degree cold snap, I heard something that sounded like someone playing a xylophone on the patio. A huge icicle caused by runoff from the gutter had broken off and landed on a small table with a glass top and shattered the glass. I was lucky; it could have hit someone in the head and caused a bad injury.

Everything except cleaning your gutters and downspouts takes just a few moments of your time; there’s no excuse for letting these little chores go unattended. When you do need help on a major home maintenance problem, before you plunk down your hard-earned money, always fire up your favorite search engine to find out if there’s an easy solution. You might just get lucky.

Four Companies That Should Be Role Models For Your Startup

All the famous companies that we are all very proud of today and those that every unemployed person wants to work for were once start-ups.Today in the stock markets some of them are considered as blue chip companies while others are rated among Fortune 500 companies.

Some of the companies that have now grown to become global brands had to start somewhere. A number of them some of which are now worth billions are said to have been launched from makeshift headquarters, coffee shops, and relatives’ garages as well university living rooms.

Some of the incredible examples of companies that start-ups should look at include;

Apple

Steve Jobs and Steven Wozniak were good friends in high school. They both happened to have a strong interest in electronics. Jobs and Wozniak had this desire to come up with personal computers that they would sell to their friends and close relatives.

It all started in the year 1976 when Woz designed what would come to be referred to as Apple 1. Jobs was excited by the idea and being the marketing genius that he was he took Apple 1 to the marketplace. The reception was incredible.

The story of Apple is an interesting one especially the fact that it had to deal with already established names in the industry like BIG Blue.

The age of Jobs and Wozniak too should offer motivation to start-ups and show them that they should not wait until it’s too late to try and make an idea a reality.

Google

Google is the leading search engine globally. It was founded by Stanford University students Larry Page and Sergei Brin in the year 1998.

It was while they were at Stanford in 1996 that Page and Brin began the process of developing a search engine called BackRub. In the year 1998, they set up their first data center in Page’s room.

Page and Brin were motivated by the fact that their fellow Stanford alum David Filo had founded Yahoo years earlier, they made a decision to start a company as well as looking for investors.

Today Google is used by almost every internet user globally and is rated as one of the most successful companies globally.

Starbucks

It started small in Seattle in the early 70’s. Howard Schultz while on a trip to Milan Italy visited the espresso bars and was greatly impressed. He decided to implement the model in Seattle, and immediately everybody become coffee crazy.

Starbucks has since expanded from a single coffee shop and has now opened thousands of its retails all over the world.

Nokia

It was founded in the year 1865. Gradually is has grown to become one of the biggest communication and information technology companies in the globe.

However, Nokia started small producing leather footwear called Galoshes. It’s in the year 1987 that they introduced Mobira Cityman 900 their first handheld phone.

There are other compelling stories of companies like Facebook that was started by Mark Zuckerberg while he was still in the university. Some of the other companies that startups should look at include; Alibaba, Yahoo, and even Toyota.

In general, the challenges that faced entrepreneurs like Steve Jobs, who was a co-founder having to leave Apple and go and try out other start-ups like Next and Pixar, demonstrates to start-ups the need to forge forward even when they experience failure.

The prosperity of such companies has been associated with the fact that they make products that are well thought, superior quality, and designed to be simple to use, which should be the guiding principles for any start-up out there.

Photo: Marco Pakoeningrat / CC 2.0

From Nothing to Something: My Small Business Success Story

Jurissa Ayala

Running your own show is no picnic. You have no one to report to, sure. You can work in your pajamas while eating too many pancakes. Any time you feel like it, you can take a yoga break. Or a Big Bang Theory break. I won’t lie, that’s all pretty awesome.

There are some downsides to owning a small business, however. When you are self-employed, you report to you. Which means that sometimes your boss is a lazy slob who won’t demand that much of you. Who might make excuses for your poor behavior or let you cut work more often than you should. Plus, your boss has only as much experience as you do, and that can really hogtie you.

It took me more than seven years after graduating college to consider myself a “success.” This is partially due to a lack of determination to get there, and partially to a number of mistakes I made. By sharing them with you, I hope to reduce the time it takes you to find your own success. Ready for a crash course in small business life? Put on your helmet and let’s get started.

Mistake #1: I Went to College Too Soon. Then I Did It Again

I was always a good student, and the occasional C in Chemistry didn’t stop me from getting into one of the top programs in my state. Because school came easy, I never really tried that hard. Nor did I question whether it was “worth it” to spend time and money on college when I was still finding myself. Too bad for me.

When I graduated with a degree I would never use, I shrugged my shoulders and found jobs that didn’t thrill me: first in insurance sales, then at a bank. I used the money to pay rent and party, and started looking for another path only when banking made me so miserable it was starting to ruin my life. I chose teaching, and got another expensive degree that didn’t pan out due to a bad economy. Then I went to school for journalism. Finally: something I loved. It only took me an extra four years and untold student loans to get there.

Mistake #2: At First I Didn’t Stick With Anything

Even after receiving my master’s degree in journalism, I found it hard to settle down. School was so easy for me: I got better grades than most of my peers with my eyes closed. Naturally I assumed this would translate to my career, and was spectacularly disappointed when it didn’t.

No one cared that I was smart, or that my teachers liked me. They just wanted to see results, and I didn’t have any. My dreams of being a world-famous writer and author soon evaporated. I was crushed and lost, and only after a year of soul-searching did I finally settle into the less-glamorous but better-paying world of freelance copy writing. I had finally found something I was good at and loved … and it paid the bills too. Add two years to the clock.

Mistake #3: I Thought Success Came Before Hard Work

At the beginning, I was convinced I had to find a glorious gig to in order to really apply myself. Once I took care of my ego, I reasoned, the hard work would feel natural and the success would come.

The opposite turned out to be true. Once I took a deep breath and accepted that there would be no glory for a long while – perhaps ever – I was able to settle into my day job with a joy and willingness I’d never before experienced in life. It came naturally, fitting into the flow of my life well enough that I was able to care for my tow children at home and keep up full time work. My world became perfect. It only took one more year.

Key Takeaways:

Consider waiting on college until you’re sure you know what you want to do
Prepare yourself for hard work at the outset, and do not expect success before you put in a lot of long, inglorious hours
Stick with it, even when it sucks
Consider talking to someone in the line of work you hope to go into to find out what it will be like and ensure you’re prepared
Have a positive attitude! No, really! It will totally help

As a small business owner, I now write for clients all over the world. I set my hours, I sleep in, I play with my kids … and I work hard. I’ve transitioned from the nothingness of endless ego drain to the true fulfillment of hard work and a quiet personal success.

Next up? I might take a sewing class. But it probably won’t be glorious.

Secrets and Tips to Save You From The Stress of Auto Maintenance

By MJ Plaster

“A car is the most expensive purchase most Americans make. More Americans buy cars than buy houses. They feel like their car is a member of the family,” said Johnny Whitaker, retired auto-industry insider and consultant. He shares his top 15 tips below.

Read the owner’s manual – “I’ll bet you’ve never taken the owner’s manual out of your glove compartment,” asked Whitaker. “This is the No. 1 mistake car owners make. Everything you need to know is in that manual, and you can save a fortune on car maintenance if you’ll just read the manual and do [with a few exceptions below] what it says.”
When he set up Cadillac service departments at dealerships across the country, he saw mistakes everywhere that would have been avoided if car owners had read the manual.

What Everyone ‘Knows’ About Car Maintenance Might Be Wrong

Whitaker disagrees with some ‘conventional wisdom.’ He made no bones about saying that what he says might differ from conventional wisdom, but he’s not telling you anything that he doesn’t do with his own cars. For example:

Oil Changes – Today’s manufacturers often suggest oil changes every 5,000 miles. Some new cars come with one or more years’ worth of free oil changes. “If you were a car manufacturer, would you want to eat the cost of oil, filters and labor every 3,000 or every 5,000 miles,” Whitaker asked. “I still change mine every 3,000 miles,” he added, “because the only change is that manufacturers are saving millions by raising the mileage.”
Oil – “Never, under any circumstances, use 10W40 oil. It turns to a gel under heat.” He uses 10W50 year-round.
Tuneups֪ – When I asked how often to get a tuneup, he said, “What’s THAT? What century are you living in?” Modern cars don’t require what used to be known as a tune up—tweaking the engine. Who knew!
Tire rotation – “I always rotate tires back to front, not in the X formation. Once a tire starts to wear, you will not correct it no matter what you do. If you rotate in the X formation, you’re changing the direction the tire normally goes, and it could ‘sling a ply,’ which could cause more uneven wear. Tire places are in the business of selling tires, not rotating them.”

Common Car Maintenance Mistakes and Assumptions

Car vibration – When a car vibrates, people assume it needs a front-end alignment. “It’s usually the wheels, tires and/or balance,” said Whitaker.
Oil filters – People often try to save money by changing the oil without changing the filter. Whitaker’s standard reply: “Well, how about you just save your bath water, and bathe in that for a week?” He also cautioned against using generic filters because they can cause problems.
Brakes –Most people think that when they hear a squeal as they apply the brakes, they need new brakes. That squeal indicates a glaze on the brake pads, and it does not mean you need new brakes. If you hear the squeal when you’re not touching the brake, and it goes away when you hit the brake, that’s the warning indicator that you need new brake pads.
Brake pads – “Spend some money on brake pads. Don’t cut this corner. At a dealer, the standards are enforced, and the warranties are honored,” said Whitaker.
Leaks – Did you know that leaks can be deadly? He said, “Think about it. What happens when oil hits a hot manifold? It can catch fire. Take care of leaks.”
Air conditioning – If it sounds like your compressor has died, your air conditioner might just need some coolant and/or you might need some new hoses.

Tips for Saving Money on Car Maintenance

With labor costs running around $100 an hour, here are a few simple preventive steps:

Air Conditioning – Run your air conditioner during the winter once a month for 20 minutes to lubricant through the system.
Windshield washer fluid – It’ll cost you an hour of labor plus parts when the tank is full of fluid but it doesn’t spray on your windshield. Add 1 teaspoon of powdered laundry detergent to each tank of fluid.
Gas – If your car requires premium, use it. Shell and Amoco have an engine-cleaning additive in their premium gas.
Windshield wipers – When you think you need to change your windshield wipers, try this first: If the wipers are still soft, spray a little household ammonia on a paper towel and clean the wipers. Then clean your windshield with some ammonia to remove road grime.

Whitaker said, “Unlike home maintenance, you can’t use a calendar for car maintenance. Treat your car with care, but don’t go looking for trouble [like flushing fluids] unless there is a problem. When you try to fix a nonexistent problem, they will break something 90 percent of the time.”

Is It Time To Ditch Your Bank?

The banking industry has never been as competitive as it is at this current time. This competitiveness creates an advantageous service and financial environment for consumers.

When a customer encounters a situation in which they believe that their bank is not providing them with the type of service or products they desire, they have the option to switch to a bank that offers products and services that are more in line with their expectations.

According to J.D. Power and Associates, approximately 9.6 percent of banking customers have switched banks over the past 12 months. This figure is on the rise, being significantly higher than the 8.7 percent from last year.

While the reasons that customers give for leaving their bank differ, there are certain indicators that are clear signs that it is time to leave your bank. Additionally, this move should be made expeditiously.

There are two key elements that are at the core of determining if it is time to ditch your bank, and they are the security associated with your money, and the level of satisfaction you are consistently experiencing.

Financial Strength

The financial strength of a bank is extremely important in providing security for the funds that are deposited by their customers.

Although the FDIC insures up to the first $250,000 per account holder who is a part of an FDIC-insured bank, no one wants to have to go through the process of filing a claim for their money. This is why customers should check the financial strength of their bank periodically.

This can be done by checking the Federal Deposit Insurance Corp’s website. This will allow you to confirm if the bank is maintaining its FDIC insurance.

If your bank is not maintaining its FDIC insurance, this should send up an immediate red flag. This means that if your bank should go under, you could lose all of the cash and certificates that you have deposited with the bank.

Excessive Fees

Currently, there is a push by larger banks to increase revenue by raising fees. These fee increases are an attempt to offset losses that have been incurred as a result of a loss in credit card fee revenue, which is a direct result of some significant regulatory changes.

This means that customers from some of the major banks will more than likely begin to see some changes in fees on checking accounts, ATM usage, debit cards, online banking and more.

All banks will vary in the fees that are charged for these services, however, traditionally, local banks have lower fee costs, and they may actually waive some of the traditional fees charged by larger banks.

Lifestyle Changes

Another important element that impacts customer satisfaction is convenience.

Maybe you are in a situation in which your bank no longer fits your lifestyle. Initially, your bank was ideal, providing operating hours and locations that effectively serviced your needs and preferences; however, certain changes in your life has created a number of conflicts that make your bank less attractive.

An example would be switching to a job that require you to travel substantially. If you are banking with a local bank with limited locations, this could present a problem. Finding a national bank might be more beneficial to your new lifestyle.

The same is applicable to banking hours. If you have a situation in which you are consistently leaving your office at 6:30 p.m. or later, the chances are that your bank’s branch office will be closed.

This is an instance where switching to a bank that can better accommodate your schedule might be in order.

Photo: Bryan Rosengrant / CC 2.0

How I Made $30,000 in One Day by Mistake

It was the go-go 90s and the stock market was on fire. In those days it was easy to make money in the market. It was a great time for momentum stocks and if you could get your hands on some shares of an IPO you had a chance to make a big score. From amateur investors to the most sophisticated traders on Wall Street, everyone was caught up in the exciting world of IPOs and short-term trading. I wanted to be part of that world!

TIP: Short-term trading carries higher risk than long-term investing. Traders can make a lot of money and also lose a lot of money.

Before I go any further let me just say that I have gone through different investment phases over the different stages of my life. Out of college, I preferred mutual funds and had my money invested with Fidelity, T.Rowe Price and Vanguard. In my early 30s I built my own portfolio of stocks. I invested some money in gold and silver bullion and I kept my retirement money in mutual funds. For a few short years, roughly from 1995-2000, I became a more aggressive investor. These were the years I got into day trading. They were also the years when I made the best investment of my life.

TIP: Base your investment strategy on your stage of life, tolerance for risk, and investment goals.

Online discount brokerage firms were in their infancy during the last decade of the twentieth century. Stock trading software was not nearly as sophisticated as it is today. However, it made it possible for people to trade frequently because you could buy or sell a stock for less than $10 per trade (a full service broker might charge $100 for the same trade). I opened a discount brokerage account and learned how to place market and limit orders. I eventually opened a margin account and it was nothing to buy or sell $10,000 worth of stock three or four times per week.

TIP: Open an online discount brokerage account and make your own trades. You’ll save on transaction costs, have a universe of stocks, bonds, ETFs and mutual funds, be able to view live quotes, do research, and track performance..

I am not going to lie and say I always made money on my trades, but I did make more good trades than bad ones. Most of the time I would make $200 – $300 on a stock I bought on one day and sold several days later. Sometimes the stock would go down and result in a loss. One thing I quickly learned was that you have to recognize when you made a wrong pick. I swallowed my pride, sold the loser, and went on to another stock.

TIP: Don’t ride a bad stock all the way down. Even Warren Buffet makes an occasional bad stock pick. When he does, he accepts a small loss (relatively speaking) and moves on. Limit your losses!

My best day ever in the stock market was the day I decided to buy into the IPO of a new stock called Books-a-Million (BAMM). The new issue was in great demand and I knew that it would immediately surge when the day’s trading session began. I got to my computer, proceeded to my online discount brokerage account, and placed an order for 2,000 shares at the market price (I wanted to make sure I was not shut out by a limit order).

TIP: Be ready when a great opportunity comes up. An IPO or a promising quarterly report can result in a rapidly rising stock price. Don’t be 100 percent invested. Have some cash on hand to take advantage of “special” situations.

For some reason, I thought that the market order had not been transmitted so I re-entered it. As you know, once you place a market order it is almost impossible to cancel it. A few minutes later I checked my account to see if my 2,000 share order had been executed. It had, and a second 2,000 share order also was executed. The IPO was priced at $12 and my two orders were filled at $17 and $20 as millions of shares traded in the first five minutes after trading began. It was not long before BAMM got very close to $30 and I was ecstatic. Then, reality set in and the stock sold off. I sold 2,000 shares at $27 and the remaining 2,000 shares at $25, netting me a one-day gain of $30,000. Although I did not sell at the very top I was still thrilled about being 30,000 richer!

TIP: Sometimes lucky is better than smart. If you buy a stock and it takes off, don’t be too greedy. Take some profits while it is going up and maybe hold on to some shares in case the stock continues to rise.

I would hardly call myself a brilliant investor, but I have been fairly successful over the last 30 years. Getting lucky is not an investment strategy. Sticking with some proven investment principles has helped me profit over the years.

Define your investment goals.
Know your investment time horizon.
Never buy on impulse.
Always do your research before investing.
Create a risk-adjusted portfolio
Periodically review, adjust, and rebalance your portfolio.
Be diversified.
Don’t invest under pressure.

Celebrating Summer’s Imminent Arrival With Checkworks

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Paying bills is never fun. CheckWorks, however, has some really fun check designs that can make the experience more enjoyable.

Enjoy the bold colors of summer and escape to a tropical paradise by the sea. Check out some of the great designs for summer (links are in the headings).

Woodies Checks

Go back in time to the beach parties and sock hops of the 1950s and 1960s with four popular paintings by Scott Westmoreland. Each design features a scene with a classic Woodie. Imagine driving the Woodie to the beach and parking it in the sand next to a row of surfboards.

Step out onto the sand and join the surfers watching the waves come to shore. Drive your Woodie to a quiet spot along the water to relax, and enjoy coming home to man’s best friend waiting in the driveway.

Escape to the Seas Checks

Escape to the sea for a few minutes with these four sepia photographs of beach scenes. The first photo features a quiet view of a beach dune with a wooden fence weathered by the salty winds.

Next, a lone motorcycle is parked at the beach with the sea shining in the background. Then, there is a collection of beautiful shells and starfish. The final scene captures the power of a large wave crashing down against the beach.

Dancing Butterflies Checks

Imagine sipping a glass of lemonade in the summer sun while watching the butterflies flitter in the sky. These checks showcase the beauty of butterflies in the bright colors of summer.

Each design highlights the gorgeous colors and swirling patterns of the butterfly wings against backgrounds of green, pink, purple, and yellow.

Bahama Breeze Checks

Take a journey to the Bahamas with four iconic prints from the islands. Of course, there are crystal blue waters, palm trees, and coconuts.

There are also pineapples, tropical flowers, and a perfectly woven straw basket. Bring your own fruity drink topped with a paper umbrella.

Sunny Side Up Checks

Pack up and get ready for a day of fun in the sun.

First, grab your bathing suit. You’ve got yellow polka dots, tropical blue floral, and bikinis from which to choose. You’ll need a bag to carry all of your supplies. Square or round? Big or small? Pink, yellow, or blue?

The sun is bright. Don’t forget to pack a hat and sunglasses. Straw hat, bucket hat, big hat, or floppy hat?

You are almost ready to go. Slip on a pair of flip-flops and you are out the door. It doesn’t matter if you choose the stripes, the wedges, or the flip-flops with the flowers. You are ready for your day in the sun.

Tropical Paradise Checks

Welcome to Paradise! Gaze at these tropical scenes for long enough and you might actually start to smell the salty air.

In this tropical paradise you will find palm trees on white sand beaches next to a crystalline turquoise sea. Brightly colored surfboards are lined up in front of crashing blue waves.

Rocky coastlines give way to soft, sand beaches and the rolling tides. A quiet pier leads you to relax next to the glassy green waters. Paradise awaits.

Photo: Nick Morozov / CC 2.0

12 Killer Tips to Slay the College Debt Monster

By MJ Plaster

To finance a college education today requires a paradigm shift. Parents and students have to work together to combine as many opportunities as possible to save money on college. If you have a teenager, you probably earned a significant portion of your tuition when you were in college. Today’s minimum-wage jobs hardly make a dent in the cost of a bachelor’s degree, but “easy money” has made student loans available to anyone who wants them—at a cost. If this isn’t what you have in mind for your child, keep reading because we’ll look at a combination of techniques to reduce the cost of a college education. Before we dive into cost-cutting measures, let’s look at the true cost of higher education.

The Sky-High Cost of College

Average annual costs for tuition and fees for the 2014–15 academic year published by CollegeBoard.org:

Public, two-year college (local) – $3,347
Public, four-year, in-state institution – $9,139
Public, four-year, out-of-state institution – $22,958
Private, nonprofit, four-year private institution – $31,231

Room and board runs an additional $7,700–$11,000 per year.

What Does a College Education Buy?

Not enough apparently: In a recent CNBC article, “Why Johnny can’t write, and why employers are mad,” we discover that some employers have to provide remedial education in basic communication skills to new hires. When high schools changed their focus from education to training, common sense, critical thinking and communication skills got lost in the shuffle. Coincidentally, those are the skills required to advance beyond an entry-level position in today’s workplace—with or without a degree.

Employers want competent employees they don’t have to train in the basics, not graduates with transcripts filled mostly with classed such as “Getting Dressed,” Princeton; “Philosophy and Star Trek,” Georgetown; and “Cyberporn and Society,” State University of New York at Buffalo.

12 Tips to Finance College Without Breaking the Bank

Pick and choose the tips that work for you. All roads lead to savings, and by combining them, you’ll stretch your college dollar further.

1. College credit for high school AP courses

Encourage your child to enroll in high school Advanced Placement (AP) classes. AP classes earn college credits and cover a broad range of topics.

2. Free Application for Federal Student Aid (FASFA)

Whether you help your child apply for a loan, a grant or a scholarship, it all starts with filing a FASFA form. This financial statement enables the federal government to calculate the Expected Family Contribution (EFC) toward education for students who qualify for federal assistance.

3. Grants and scholarships

Combine need-based scholarships and grants such as the Pell grants, Hope scholarships, etc., with merit-based and nontraditional scholarships and grants to help finance the remaining tab. Start your search at CollegeScholarships.org. Apply for need-based opportunities even if you think you don’t qualify because the calculation formulas are obtuse and largely undecipherable.

4. Community colleges and fee waiver programs

Every state has a different name for their free, fee-waiver or means-tested community college programs. Type “free community college [your state]” into your favorite browser. Many states also have guaranteed acceptance into four-year schools upon completion of a two-year community college program. Again, the names vary, so search for “guaranteed acceptance to four-year college [your state].”

5. Online courses

Many colleges and universities offer online courses, which eliminate room and board and/or reduce commuter costs. Some offer degree courses entirely online. I have a friend who is earning a Ph.D. through distance learning.

6. In-state tuition for out-of-state colleges

States have formed regional alliances to offer in-state tuition to neighboring states. Qualifications vary widely; learn more by visiting your regional alliance:

Western Undergraduate Exchange
Midwest Student Exchange
New England Regional Student Program
Academic Common Market (Southern states)

7. FREE college

Check out Time magazine’s article on 22 free college opportunities. Some of the schools require students to work for their room and board, some offer mean-tested free admissions to students who qualify academically, and some offer free tuition for talented students.

8. MOOCs

There’s a new sheriff in town, and her name is MOOC (short for Massive Online Open Courses). These courses are the same ones taught in the most hallowed halls across the globe, but MOOCs do not offer traditional degrees. Classes are taught as self-paced eLearning or as interactive experiences. MOOCs are offered in most areas of study including science, technology, engineering and math (STEM) courses. The most popular MOOCs offering bona fide college-level courses include:

View a comprehensive list of MOOC sites at Top5OnlineColleges.org, and combine this tip with the next one.

9. Tests for college credits

For a small fee per test, students can rack up more college credits by taking CLEP and DSST exams. Some students eliminate two years from their four-year degree programs. Before students take a CLEP or DSST exam, they must ensure their college or university grants credit for the test. Ask the admissions office what additional tests the college or university offers.

10. Internship programs

Earn a stipend and/or college credits for internships. Search for “paid internships programs” “college credit internship programs” to find internship portals on the Internet. Even more important, internships provide an easier entrée into a job right after graduation due to the experience gained.

11. Tax deductions and tax credits

Tax deductions reduce taxable income, and tax credits reduce the amount of taxes paid on net income (gross income minus deductions). Alltuition.com explains the options in plain English.

12. Military service

Military members and veterans are eligible for a host of military education benefits.

Need More Help?

Between AP classes, MOOCs, CLEP, DSST, state programs, waivers and community college, no one earning a bachelor’s degree should have to pay for more than two years of an undergraduate degree. Grants and scholarships can chisel away more of the expense, leaving student loans as a last resort rather than the first, easy option. Edvisors.com can walk you through myriad options for college financial planning.

If you can’t finance a college education outright, you can reduce the cost of student loans by combining the techniques above. Further, free eLearning is opening doors that were once closed to those without a degree. Nothing lasts forever, so take advantage of these tips while the getting’s good.

Start Them Early: Teaching Kids Financial Responsibility

Teaching your children about financial responsibility isn’t one of the easiest parts of parenting, but with the right tools and strategies, it can be done.

Financial irresponsibility often leads to future credit and money problems, and it can even prevent your children from developing a savings plan for the later years in life.

These are unique ways you can help your children learn to use money wisely and responsibly.

1. Enlist the help of your children when managing bills. The Pennsylvania Association of Community Bankers suggests allowing your children to handle small aspects of the money flow in your home.

For example, you might consider letting them balance the family checkbook after all major bills have been paid. This helps children get a good look at how finances are affected once expenses have been paid.

2. Set up a matching goal. Depending on how old your children are, they may have already started talking about getting that prized first car once they turn 16.

Abby Hayes of AFCPE notes that one great method for encouraging kids to save their money is to propose a matching goal. This means that however much they save for a particular purchase, you promise to match a certain percentage of their savings.

This is often a great motivator for kids to begin saving and working hard for the things that they want.

3. Define needs and wants. One mistake that many parents often make is merely assuming that their children understand the difference between financial needs and wants.

Children don’t understand that a video game is a financial want, while making a mortgage payment is a financial need. Jacqueline Curtis of Money Crashers explains that it’s your responsibility to distinguish the two.

Start by noting expenses that are required for survival, such as the electric bill, your car payment, or groceries.

Next, list things that aren’t vital to survival, such as going out to eat or toys. Compare the priority levels of expenses to help your children understand the differences between essential and nonessential purchases.

4. Explain how bank accounts and ATMs work. It’s easy for children to underestimate the importance of money when they see their parents swiping their debit/credit cards or taking seemingly free money from an ATM slot.

Jason Alderman, Vice President of Visa Inc. tells parents that it’s important to teach their children that money isn’t free.

Help your children understand that the money you spend from a credit card or receive from an ATM isn’t conjured from thin air. It’s real, and it must be accounted for.

This is also a good time to explain what happens when too much money is withdrawn from an ATM, or too much money is spent using a debit/credit card.

5. Lastly, don’t stop at one piggy bank. You’ve probably already considered getting a piggy bank for your child.

However, Meadows Urquhart from Meadows Urquhart Acree & Cook LLP explains that you can teach your child an even more valuable life lesson by getting them multiple piggy banks.

This gives children a chance to break their money up into spending, savings, or item-specific goal accounts. This provides children with wonderful preparation for real bank accounts.

Photo: familytreasures / CC 2.0

Overhauling Your Budget from Top to Bottom

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Sometimes you need to make big changes to see a lasting change. Many budget experts believe that you need to first tackle your bad spending habits before you can really see a difference in your bank account. But when you’ve been living a certain way for years, it can be difficult to even see where to begin. In this situation, you need to perform a complete budget overhaul.

Begin With Your Income

Income can be incredibly difficult to estimate — so don’t. Make sure that you know exactly how much you have in take home pay every month. If your pay varies, estimate it out based on the amount you took home the last six months; don’t try to estimate based on the most that you usually bring in. Keep in mind that if your pay is erratic you will need to be more careful with your budget. Your budget will need to be more restrictive to ensure that you have a buffer during leaner earning periods.

Separate Your Expenses Into Needs and Wants

Go through your monthly expenses and separate every expense that you had into two piles: a “need” and a “want.” Rent is a “need” — it’s something that you cannot avoid spending money on. Going out to eat is a “want” — it’s something that you enjoy but that you don’t necessarily need to do to survive. At this stage, you don’t need to make any judgment calls on whether you’re spending too much on each item; you just need to classify all of them. Make an orderly list.

Find Ways to Reduce the Cost of Your Needs

Once you have separated your expenses, go through your needs line by line and identify areas in which you can save. Rent and transportation are two of the most costly expenses and occasionally they relate to each other; often you can save money on rent by moving farther away, but you need to spend more money on transportation to compensate. Other areas can be more straightforward; you may be paying $80 a month for a cellphone but be able to get by on a $40 month plan. Investigate alternatives for each of your budgetary line items to find sensible ways to reduce the cost. Something like downgrading your cable is likely to save you a lot of money over the course of a year but will probably not have a significant affect on your quality of life.

Pare Down Your Wants to the Things You Want the Most

When you get to your needs list, your goal is to order them by the amount that you value them. If you spend a lot of money on a multitude of hobbies, now is the time to decide which of those hobbies you enjoy the most and which gives you the most value. Ideally, you should cut your “wants” section down to the top three or top five things that you enjoy, depending on how restrictive your budget is. If you’re a foodie more than a fashion maven, you may find that getting a haircut at a salon doesn’t make the cut, but eating out once or twice a month does. If you’re a reader more than a movie buff, you may find that purchasing a few new books a month is more important than seeing a couple of new release movies in the theater. By prioritizing your wants you allow yourself to still enjoy the things that you enjoy most while cutting back on some of the expenses that really aren’t that important to your happiness.

Put Your Budget Together

Once you have created your revised budget, it’s time to put it all together. Deduct all of your expenses, both needs and wants, from your income to see where you’re at. Remember that it’s more than just having a buffer — you also need to be able to save enough money to create both an emergency savings account and contribute to your retirement fund. Once you have a sensible budget, it’s just a matter of adhering to it on a day-to-day basis.

The goal of creating a budget isn’t simply to restrict your spending — it’s to restrict your spending in a manageable way that will still leave you comfortable and happy. When you create a budget that leaves you frustrated, bored or deprived, it’s very easy to fall back on old spending habits. Like a diet, a budget overhaul has to be done with your continued health and happiness in mind.