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5 Ways Students Can Save Money with a Staycation this Year

Posted on Jun 23, 2017 with No comments
Managing money and arranging a trip are 2 things that do not typically go together, however it is feasible to organize a trip without shelling out a lot of money.

In the last couple of years, staycations have actually ended up being more and more frequent with university student-- and it's simple to see why.

Still how can you save cash on your staycation? Is it likely to experience a few days away with your loved ones for $200? We've rounded up 5 ideas to do precisely that.

Find Alternatives to Hotels


Rather than opting for a chain resort for your vacation away, look at the advantages of bed and breakfast lodging.

Not just are B&B s typically more affordable than hotels, nevertheless they're homely, comfy and informal-- you're always assured a personalized service.

Travel When Prices are Low


Stay away from summertime vacations, national holiday and on-peak times if you wish to save money on your lodging and activities.


Typically speaking, the months of March-May and September-November are best for a staycation, as you'll still have the ability to see warm temperature without needing to pay a premium for your lodging.

Don't Eat Out


Depending upon the length of time you're going on vacation for, this idea will not consistently be ideal. Nevertheless, if you're deciding on a staycation, bring your own meals and treats so that you can steer clear of pricey room service, coffee shops and takeout costs.

One practical tip is having cereal bars to save money on breakfasts, and sodas to keep kids hydrated on their trips.

Try to find cost-free adventures


Another fantastic method to save money on your staycation is to watch out for cost-free activities that the entire household can appreciate.

Naturally, taking a walk along the beach or country must come at the top of your list.

Check out a gallery or tourist attraction, and save more by preparing a picnic to minimize splashing out on pricey sandwiches and beverages.

Only Use Your car


Rather than wasting money on buses or planes, think about taking your vehicle on your staycation.

Not just will it be easier, yet it'll be more affordable and will mean you will not have to depend on public transportation and taxis when driving around your trip location.

There you have it-- 5 ideas to save money on your next staycation.

Have a wonderful time, and keep in mind that by thinking before you buy, you'll have the opportunity to save money that you can use towards your next college break.

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3 Ways College Students Can Stay Out of College Debt

Posted on Jun 20, 2017 with No comments
Since the high school class of 2017 has recently finished, a number of the graduates and their parents are attempting to determine the best ways to provide for college with as little personal debt as possible. It will not be easily done, as 8 in 10 college seniors, 57% according to The Institute for University Students had student loan debt. Typically that balance was $30,100 per person. Student loan debt is now the 2nd leading type of financial debt in U.S. behind home loan financial debt.

Planning for College Costs


Planning to pay for school can and must begin much earlier than graduation year, however understanding the very best saving instrument is puzzling. There are a number of options and as moms and dads a number of us wish to provide our kids a much better future than we had available.

College savings and the provided financial investment accounts have actually evolved drastically throughout the years. You've simply got to comprehend exactly what are the various strategies and exactly what are the advantages and disadvantages to each of them. At the very primary level a few of these strategies will provide both current and future tax advantages.

Coverdell Educational Savings Accounts


The Coverdell Educational Savings Account is the very first type of a college savings account. Many individuals aren't utilizing these now, however there are specific advantages that aren't used by the 2nd kind of strategy which is the 529 state sponsored college savings account.

529 Plan Accounts


With a 529 account each state has their own program available allowing adjustable spending towards college. Also, if your student chooses not to enter into a conventional college education, the money can be shifted to another kid or family member.

You may see present tax advantages when you make the payment and, generally, the money will grow tax deferred and if it's utilized for college costs it will be utilized on a free of tax basis-- so there are a great deal of really strong tax advantages. 

However many individuals do not comprehend that every state has their own 529 program and you can opt to utilize a different state's program. If you like the advantages, or perhaps the mutual fund provider that sponsors another state's program you can select that program. So it's definitely crucial to sit down with a financial consultant and certainly comprehend the advantages of each.

Custodial Roth IRA Account


A 3rd alternative is a custodial Roth IRA account. You can set aside or match 100% of a youngster's earnings as much as $5,500 a year in that account. Contributions can then be taken out to help pay for college costs.

What takes place is individuals get so overloaded with the provided options and comprehending the tax advantages and they simply decide to do nothing and disregard the issue. The very best guidance is to not depend upon google to figure this out. The sooner you begin the better, to take advantage of compound interest.

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The Importance of Stress Relief during College

Posted on May 26, 2017 with No comments
Theses days staying in school without stressing yourself out is becoming more and more difficult. With increasing course loads, stressful social engagements, anxiety inducing testing, and financial aid meltdowns keeping a level head is increasingly important.

Your education should never be taken lightly and in some cases that means making sure your stress levels aren’t through the roof. When stress gets out of hand it’s hard to focus on your education. This is a slippery slope that you don’t want to fall down! Keeping up with your mental and emotional health is key to a great education that will truly impact your life.


Take Time to Relieve Stress


Good ways to relieve stress include setting time aside from schooling, studying, and testing. Remember to find time for yourself to unwind, relax, and forget about your troubles. Candlelit baths, playing with pets, and relaxing walks are great ways to unwind. 


Spending time with friends is also key to maintaining stress levels. Enjoying your social circle without the pressures of college is a great way to stay stress free. What better way to spend time with friends, have a few laughs, and get out of the classroom than with a memorable getaway?

A Change of Environment Helps


Bally’s Atlantic City puts you and your friends into the middle of the action, making it the perfect place to get away from the stresses of the classroom. With a wealth of amenities, entertainment, excitement, and activities at your fingertips it’ll be easier than ever before to let the stresses of the classroom simply melt away!

Choose from a variety of high quality hotel rooms, enjoy special discounts for students, and take advantage of all the resources made available to you by the incredible professionals at Bally’s! Enjoy great deals on a college student budget with the best rates around. 

Bally’s knows it’s difficult to find time and money for yourself. They also know it’s essential to a student’s happiness to step out of the classroom and experience fun, excitement, and entertainment like never before.

Make the most of your college experience with memorable getaways with friends, fraternities, and sororities! Melt away stress, save money, and experience something new with Bally’s Atlantic City.


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Student Debt Hurting Economy - Solution 529 Plans

Posted on May 20, 2017 with No comments
After years of increasing college expenses and slow earnings improvement, student debt has actually ended up being a hindrance on graduates' hopes and a danger to a prosperous financial future.

The expense of a four-year college education, corrected for inflation, is 2 and half times as much as it was in the 1978-79 academic year, while typical household earnings has grown just 20 percent.

An updated report by the Federal Reserve Bank of New York detail the difficulty that has come from the skyrocketing level of student debt undertaken to cover those expenses. About one in 10 student borrowers is behind on payments, the greatest delinquency level of any kind of borrowing in the Fed's study, including home mortgage loans, automobile loans and credit cards.

Loan repayments are hindering young men and women from moving on with life, postponing married life and homeownership. Research even shows that student debt is crowding out other investment and spending that would otherwise take place. So the after effects from these problems, affecting those who are theoretically best prepared to deal with and influence the future, is not only a personal-financial problem but likewise a societal and financial one.

"Overall student debt-- $1.3 trillion-- is greater than double what it was as recently as 2008 and is more than Americans have acquired for automobiles or credit cards.", Federal Reserve Bank of New York.

Using debt to finance a college degree is just a bad idea. Those who chose this path are going to have to deal with it the best they can. The best way to avoid this terrible situation is to save for a college degree. Parents are going to have to make a decision for the good of the future college student. The best vehicle for this endeavor is a 529 College Savings Plans.

Getting Started


The first thing you have to do is open a 529 Plan using the plan that your state provides. Or by using plans offered by investment service companies like Vanguard or Fidelity. Additionally, some states do not offer plans, so go with the investment company 529 Plan. The map below will link you to the 529 Plan for the state of your choice.


   

Fill out the application forms and then fund the plan to get started. You can make lump sum deposits or better yet, make small monthly deposits if that makes sense for your budget.


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Can You Use 529 Plan Money for Students Attending College Part Time?

Posted on Apr 26, 2017 with 1 comment

You're attending a community college this coming year and you will only be going part-time, can you still use your 529 Plan money to pay tuition? Money from the account can be spent at any university, college, post secondary educational institution or vocational school that is associated with the U.S. Department of Education's student aid program. Even some colleges outside of the U.S. are eligible. You can check the Department of Education’s federal school code database, or ask the school if it is eligible.

529 Plan Non-Tuition Expenses


You can be a full or part-time student and use you 529 plan money for any tuition, fees, and required books and supplies. Not only that but you can also spend your money to purchase a computer, printer, scanner, related equipment and software, and Internet access. Requirements are that the computer and related equipment be use primarily by the 529 beneficiary.

Room and Board


If you plan on using your 529 plan money for room and board you will have to follow guidelines that the college says is the allowance for room and board included in the cost of attendance for federal financial aid purposes. As long as the student is at least a half-time student according to the college, then they can use 529 plan money to pay this expense. Check with your college for these specific details which are different for every college. You can usually find that figure on the college’s website, or you can get it from the financial aid office.


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4 Tips For Buying Your First House After College

Posted on Apr 25, 2017 with No comments
For many college graduates the idea of moving back in to mom and dad's after college when they can no longer stay in their college dorm is not one they like very much. Many rent an apartment, but some realize the benefits of just buying their own home and having a permanent place of residence.

It's actually cheaper than you think to buy your first home without any risks if you know a few tips. If you are thinking about buying a home here are just a few pieces of advice to help you out.

Get Pre-Qualified


Whether you're buying a home with the help of somewhere like Fischer Homes, or you’re building a home from scratch on your own, it is suggested that you get pre-qualified for a home loan to save you time. 

You can get pre-qualified for free online or over the phone, and find out if it's even possible for you to get pre-approved for a loan to purchase a house. The only information you need to give is your current income, any debts you may have and your assets. 

By supplying this information, you can find out how large of a loan you are like to receive. With this loan amount in mind, you can begin your search for a home within your budget.

Get Pre-Approved


Now that you're confident that you should be able to get a loan, fill out a mortgage application, go to a licensed lender, and see exactly how large of a loan you are eligible for. 



You are going to want to remember that it's best if you can pay the first 20% to 30% down from the loan amount you receive, but make sure to save out a few thousand for moving, home decor costs and any repairs your house needs.

Have Your House Inspected and Insured


Make sure you have the house inspected. This will cost you a few hundred dollars, but it's definitely a necessity. From here, you can see how much the house is really worth and how much you will have to spend on repairs. You will also need this info when you have your house insured, which is also a pretty good idea.

Cut Costs


If you buy a house from the owner, then it will cost you less because it cuts out the cost that would have to go to the realtor. 

You can even talk to some of your friends and family to see if they know anyone that is selling. If you take the time to do some extra research and network well you can end up saving a lot of money down the road.

When buying your first house after college, you won't need to be in a school district yet, but you will want a place that cancels out the hassle of a long commute. This would cut the amount you have to pay per year for your home.

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Finance Factors: What to Consider about Your Degree's Overall Cost

Posted on Apr 19, 2017 with No comments
If you're thinking about college, you're probably well aware that it can dramatically increase your life-long earning potential. The costs that go along with earning a bachelor’s degree aren't to be taken lightly, but the actual amount will vary widely.

College Costs


Most colleges change their tuition rates from year to year. But to give you a general idea, for the 2016 to 2017 academic year, public for-profit institutions charged about $25,000 and local state colleges about $10,000 for in-state residents. Private schools charged around $50,000 on average.



Don't forget additional costs such as textbooks, miscellaneous fees, transportation, and room and board which could total from $10,000 to $15,000 yearly.

Additional Studies


Most professional careers, such as psychology or teaching, will require at least a master’s degree. This requires an additional two years of study. One alternative is programs that prepare you for a career in business.

Some schools will specialize in a two-year MBA program. Business majors enjoy the benefit of having the credentials to work on the managerial side of almost any industry, and can often gain valuable experience in apprenticeship or intern programs. Find more information here about MBAs.

Cutting Down on Costs


One way to save is to obtain your associate's at an inexpensive community college. You could also use College Level Examination Programs. 

There are more than 2,900 schools that will allow you course credits for passing CLEP exams. Many students save money by buying used or digital versions of textbooks.

Online courses or colleges will be your cheapest and potentially fastest means of earning credits or degrees. Online studies are becoming both more diverse and more respected. Many schools will even award degree credits for "life experience" such as past employment.

How to Pay


Federal loans may be easier to get than you thought. However, you can't escape paying even if you declare bankruptcy. Non-payment could lead to additional interest and penalties. Many graduates spend years paying off their college loans.



Your first efforts should be focused on federal grants that you don't have to pay back. Many private organizations will also provide scholarships, though you usually have to meet specific criteria.

If you have a few years yet, you might consider tuition savings such as a 529 plan. This is basically an investment account, but since the money is intended for tuition, not as income, it may qualify you for tax deductions or credits.

Attending college and obtaining financing is one of the most important financial decisions you'll ever make. While the costs can be intimidating, if you wind up making a good living at something you enjoy, it's well worth the investment.

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