Around the web, 4/10/15

As I work furiously to finish my thesis before the end of the spring semester, I haven't had much time to put into the blog. Priorities!...

Anyway, I have been on Twitter, sharing some of the best content I found. Here are my favorites:

-This one is targeted squarely at recent college graduates, who may be struggling with whether it's better to rent an apartment, or try to buy a home and take on a mortgage in addition to the student loans! A tough question, tackled here: http://squaredawayblog.bc.edu/squared-away/grads-with-student-loans-rent-or-buy/

-These 15 money-saving hacks can apply to anyone! My favorites from this list are tips #1, 5, 7, 10, and 15. http://fundingmyway.com/15-simple-money-saving-hacks/

-This is Investment 101: Investing for the Real World. Put some money into dividend-producing investments (as part of a properly diversified portfolio, of course!). Reinvest the dividends, and...poof! It's like getting free money! http://misfitmoney.com/investing-for-beginners/dividends-are-the-easiest-way-for-you-generate-additional-income/ Remember, millionaires make their money work harder than they do!

-What if you want to start investing, but you have barely any money to spare! On her excellent blog, author Stefanie O'Connell dug up a couple no-minimum investment options: http://thebrokeandbeautifullife.com/where-to-start-investing-when-youre-broke/

-In fact, you don't have to be broke for years while taking on a monstrous student loan debt! If you aren't traditionally academic (you didn't enjoy your classes in high school, or you didn't do so well in tougher courses), you can take a quicker and cheaper route to a nice salary while solving people's practical problems! [The alliteration was unintentional, but I'm keeping it anyway!]
A number of blue-collar professions are in-demand and can't be outsourced. Some examples include electrician, mechanic, carpenter, roofer/builder, plumber, paramedic/certified first responder/emergency medical technician, or other professional trade. Don't count out working in the military, either--they need help in a number of non-combat areas, like working in logistics, intelligence, or repair.
You might find it more rewarding--on several levels--to work in one of these fields instead of trying to figure everything out while accumulating debt in a traditional four-year college. Stefanie O'Connell discusses that here: http://thebrokeandbeautifullife.com/how-to-make-six-figures-before-thirty/ *Disclaimer: working in these fields won't guarantee that you'll make six figures. In fact, you probably won't, unless you start your own business. But the point stands that there are a variety of rewarding, well-paying alternatives to college--going into one of these fields can help you avoid burdensome student loans!

-Speaking of those student loans: are they worsening economic inequality? A French economist argues that they are: http://bigthink.com/think-tank/hefty-student-loans-are-worsening-income-inequality

-Microsoft is finally surrendering to pirates!
They will reportedly allow people who pirated Windows 7 or 8 to upgrade to the legit Windows 10 when it becomes available--just like the people who are running the genuine versions! Microsoft appears to be bowing to the inevitable: nobody is willing to pay for an operating system anymore. Credit Microsoft for finally getting in sync with the times!  http://www.techrepublic.com/article/microsoft-gives-up-on-charging-for-windows-in-china/
Tech geeks might find it entertaining to debate whether or not this move will ensure that Linux never attains widespread use...
*UPDATE 5/24/2015: Despite numerous reports originally, it turns out that this is not true. http://www.pcmag.com/article2/0,2817,2484352,00.asp?

And, kids, this is your lesson:

http://weknowmemes.com/wp-content/uploads/2012/07/dont-believe-everything-you-see-on-the-internet.jpg

-This teen has her stuff together! She's helping her mother with the family budget--kudos to this young woman whose heart (and mind!) are definitely in the right place! http://canadianbudgetbinder.com/2015/03/16/ambitious-teen-helps-mom-with-family-budget/

-This is a common trait among entrepreneurs: they refuse to accept a "no." You might even say that entrepreneurs tend to have a lot of...grit!
Barbara Corcoran, an investor on the very entertaining show "Shark Tank," wrote an example of how she refused to take no for an answer--and that's why she got a spot on Shark Tank! https://www.linkedin.com/pulse/20140906172705-264544111-the-best-entrepreneurs-don-t-know-when-to-quit
Speaking of Shark Tank--if you haven't seen it yet, you should! Here's a link to an episode from season 6 (aired March 2015).
And, if you haven't heard, Bowling Green State University in Ohio has a similar production annually, called "The Hatch." It's a great educational opportunity for students there (and it's entertaining to watch)!

-Also on an entrepreneurial note, here's a peek behind the curtain of some of today's most successful and talked-about companies--before they were household names! https://medium.com/@todfrancis/what-did-billion-dollar-companies-look-like-at-the-series-a-e53ea8043a85

-Diversification is just as important in marketing as it is in investing, as this article makes clear: http://marketingland.com/unofficial-death-google-means-marketing-122696
There's one particular quote from this article that really struck me, and it dovetails nicely with an article that's been simmering in the back of my mind for months (but so far exists only as a title). The quote is, "...there's often more to be learned from failure than successes."
Very true--and, as many successful entrepreneurs will tell you, they often learned valuable lessons from starting businesses that failed early in their careers. [See the note on Barbara Corcoran's article two paragraphs above. Remember, failure isn't final!]

-Need a new lock for a broken door? You can make one yourself, for the cost of a used fork from a thrift store: https://www.youtube.com/watch?v=-lNFJt10w1E

-Sometimes, instead of trying to keep wages low and profits high while accepting an absurdly high salary, a CEO has compassion for employees and does something extraordinary to increase their happiness, like Dan Price of Gravity Payments! Read more here:
http://www.nytimes.com/2015/04/14/business/owner-of-gravity-payments-a-credit-card-processor-is-setting-a-new-minimum-wage-70000-a-year.html

Hope you found these links as interesting and helpful as I did! Happy saving!

The Hatch: A Shark Tank for students!

I'll be attending an exciting opportunity for students at Bowling Green State University to gain experience pitching their business ideas to real investors, in a Shark Tank-style presentation: it's called The Hatch, and you can watch it online!

Here's a link, if you'd like to know more about it: http://www.bgsu.edu/business/centers-and-institutes/dallas-hamilton-center-for-entrepreneurial-leadership/e-week/the-hatch.html

UPDATE:
You can watch the entirety of The Hatch 2015 (for now, at least) at this link:  https://dvss.bgsu.edu/public/publicPlayer.php?movie_id=bd6f624a843753f8592745a1ba4ff49e
The action starts at 38:00.

There were some innovative business ideas, including a way for coaches to diagram their plays using technology, a personalized clothing line, a teddy bear to teach children several languages, and a music sharing app, among others.

Chalk one up for these student entrepreneurs! This program is a great way to give young people practice thinking through an idea, pitching it to investors, and potentially bringing it to market!

One note: the investors appeared to have "inside information." It appears that they were given business plans that were more detailed than the 10-minute pitches allowed. I suppose that's only to be expected, but I wish the investors had to base their initial reactions on the same information that the rest of us had.

A new perspective on student loans

A Yahoo! finance article (link at end of this post) describes a pretty clever way to picture your student loan debt. Rather than some relatively large, abstract figure like $20,000; think of it in terms of what your monthly payments will be when you graduate.

"Old Economy Steve" may give you advice that was fine for his generation, but not so good for yours

Helpful links, 6/5/14

I've included a roundup of good articles relating to money management for young people, obviously with a focus on college students--in line with the purpose of this blog.

"How to live on $20,000 per year."
This is a great illustration of living below your means, as I advocate in The Millionaire Mindset, but it doesn't necessarily apply to current college students.
https://thecollegeinvestor.com/12961/live-20000-per-year/?utm_campaign=coschedule&utm_source=twitter&utm_medium=CollegeInvestin&utm_content=How%20to%20Live%20on%20$20,000%20Per%20Year

"Before I Knew, I Bought It New."
A great post on the virtues of buying used.
http://cashcowcouple.com/life-lessons/bought-it-new/

"Financial Independence and the College Lifestyle"
This is a post on how difficult it can be to establish yourself as an independent (in the government's eyes, for financial aid purposes). Very apropos for a lot of college students wondering how to make ends meet.
http://www.modestmoney.com/financial-independence-college-lifestyle/

"What Americans Don't Know About Student Loans: A Lot"
An article describing what people don't know about student loan debt. What you don't know CAN hurt you! Be informed!
http://www.businessweek.com/articles/2014-06-05/what-americans-dont-know-about-student-loans-a-lot#r=read

"Top 3 Ways to Make Your Money Work for You"
This post describes how rich people approach money. Once you have money, it can be leveraged into various types of investments that earn you more money--so think of money (if and when you have some) as a tool.
http://moneyfor20s.about.com/od/makethemostofyourmoney/tp/3-Ways-to-Manage-Your-Money.htm?utm_source=facebook_sp&utm_medium=sm&utm_campaign=shareurlbuttons

"Life After Graduation--Advice to My Past Self 5 Years Later"
A brief, thoughtful look at what the writer thought she should have done differently after graduating college.
http://momoneymohouses.com/life-after-graduation-advice-past-self-5-years-later/

Any other suggestions? Let me know in the comments below, and it'll make my next "Helpful links" post!

The Wal-Mart Trap

Bargain hunters beware!

Though Wal-Mart has great prices on certain items, they're not always the cheapest option around. They built a very successful business based on advertising their low prices, and then having such a wide selection that people don't bother to go anywhere else for their other goods.

The Millionaire Mindset

The Millionaire Mindset

I want to get this idea out there now: your mindset is far more important than your income level. Many people think a large income leads to financial security...and they're dead wrong. I'll show you why. 

Interesting story

Though this doesn't necessarily apply to college students, it's a good tip if you're wondering how to make ends meet: http://www.debt.org/blog/cord-cutting-cable-frugal-man/ Try re-considering your 'must-haves.' (Story found courtesy https://plus.google.com/communities/116393177625731626010 the +Financial Literacy Google+ community)

Tips for college students

Despite what books, TV ads, financial planners, and others would have you believe, there is no big 'secret' to being financially successful. There are, of course, lots of tax loopholes, complicated investment methods, and other such tricks to making money.

Unless you are a CPA, tax lawyer, investment banker or otherwise want to be involved in studying the myriad financial laws of this country (and possibly others, as well), a simpler approach probably sounds good to you.

Welcome!

Hello world, and welcome to the new Froogal Stoodent blog! The purpose of this blog (in case you couldn't tell from the title!) is to provide tips and advice on saving money. This is aimed directly at college students and graduate students, though the advice could be useful to anyone.

I will largely draw ideas from my own experience and expertise, but input is encouraged! This site will work best as a forum for people to discuss ways of saving money and living frugally. Learning how to live below your means is certainly an ongoing process, but it's up to you to make the commitment to do so. As with most things in life, the results you get will reflect the effort you put in.

So if you want to learn how to lead a frugal lifestyle that will yield benefits for many years after you graduate, you've come to the right place! After all, who doesn't want to save money?!

As difficult as it can be sometimes to sit at home while your friends go to concerts, parties, and dates to the movie theater or posh restaurants, consider how those same friends will feel when they graduate with $30,000 or $60,000 or $100,000 of debt--or even more! If that thought isn't enough motivation to seek alternative ways to have fun, go on dates, and eat well, I don't know what is!

Before we get into the heavy stuff, allow me to introduce myself. My name is Zach, I'm 25 years old, and I'm pretty easygoing. I'm a graduate student in Cognitive Psychology at a university in Ohio, but I'm originally from central Pennsylvania. My father has worked in a warehouse for about 30 years, and my mother retired from her work helping people navigate their medical insurance benefits (a minefield, to be sure!) when I was born in 1989. She has not worked since.

So, it probably goes without saying that I've never been particularly well-off. Because of this, I'm fortunate enough to have been taught the value of living below your means, so my meager pay as a grad student is actually more than enough to meet my needs--but only because I do without some things that a lot of people take for granted.

Since so many people talk about having money issues, I figured a blog such as this one would be a good way to share my knowledge and provide a forum for other people to do the same. While a grad student like myself can't increase his income, he CAN decrease his expenses--and that goes for just about everyone who doesn't make more money than he knows what to do with!

My own tips and ideas will be coming along in future posts. But for now, here's a link to a site that I found: http://www.hackcollege.com/blog/2013/10/07/20-money-saving-tips-for-frugal-students.html  It's got some good ideas that you may have thought of, or you may not have. In any case, there's always more to learn. So, let the savings begin!