Grad Money Matters: Freelance Articles

5 Ways to Save Money in College

(This is a guest article by Heather Johnson*)

When you’re in college you never have enough money. It’s just the way it is, unless you’re a trust fund brat. If you don’t have mommy and daddy’s big pockets, you have to find alternative ways to get by. Chances are most of your purchases will revolve around beer and books. With this in mind you have to figure your budget for each semester to have a goal of saving enough during the summer and winter breaks. But when you’re actually at school, there are many ways you can make sure you always have a little dough to spare. Here are five tips for saving money when you have no real income while in college:

Have a financial record. This can be as easy as having a sheet of paper in your desk where you can keep track of your income streams and expenses. Write down how much you’ll have coming in during the month and what you have going out. This will keep you prepared and aware of what you have at your disposal. Once you have this knowledge you’ll know what you can afford when it comes to the weekend. Too bad the weekends start on Wednesdays. Good luck.

Keep your receipts. This sounds tedious but it’s important in case you’re ever overcharged. You can’t afford a company’s mistakes. If you’re overcharged you’ll have the receipt to recoup your lost money.

Spend money only on what you need. If you went to the store for a twelve-pack then don’t come out with a case and a bottle of wine. Only buy what you absolutely intended on buying. You never know when a parking ticket will appear on your windshield or when you’ll need a new set of tires. Always be prepared for a hidden expense.

Consider your options. Go to a local bank near your school and speak with a financial services representative about the different programs they have specifically geared to college students. Most banks will have some system in place for college students and are great ways to get introduced to the real world.

Pay your bills on time. The last thing you need are late fees and other expenses associated with not paying your bills on time. Stay current with your credit card bill as the interest alone can clean you out later on down the road. If you stay up to date with your bills there will be no out-of-the-blue fees.

*About the author: This article was contributed by Heather Johnson, who is a regular writer on the subject of instant credit card approval. She welcomes your questions, comments and writing job opportunities at heatherjohnson2323 at gmail dot com.

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How Much Should You Borrow for Your Education?

(This is a guest article by Miranda Marquit*)

One of the items that seems to continually go up in cost is education. It's up there with food, health care and gas. Only you don't usually have to take loans out to buy those other things. The rising cost of higher education pretty much guarantees that you will need to take out student loans in order to help fund your degree.

The good news is that there are many sources for student loans, both from the government and from private sources. And even in the current climate, there are still plenty of loans available. Indeed, the danger becomes borrowing too much, and then having to pay it all back. While student loans can help you offset living expenses so you can focus on school (in addition to paying the cost of tuition), few people really need the maximum amount they are approved for.

My mother's voice echoes in my head "Just because you can, doesn't mean you should." This is just as true for figuring out how much to borrow in student loans.

Create a budget

Take a realistic look at your expenses and your education costs. Find out how much you will pay in rent, and get an estimate of the cost of utilities. If you live in housing provided by your school, most utilities are included in the cost of your rent. Even if you don't, many apartment managers can give you a good idea of how much utilities will cost. Estimate a food budget, transportation costs and even a little fun money. Are you planning on getting a job? Figure any income into your calculations. A part time job will reduce the amount you will need to borrow. Also, if you have scholarships and grants, that will reduce your student loan amounts.

Multiply your estimated monthly expenses by the number of months that you will be in school. Then add that number to the cost of your tuition, student fees and estimated cost of books. Take the amount of scholarships, grants and estimated income and subtract that from your total expenses. The difference is how much you will need to borrow. In order to allow for leeway, take 125% of that difference, and round it up to the nearest $1,000. Example:

You estimate that your total cost for attending school is $30,000. Between scholarships, grants and a part-time job, plus your savings, you have $20,000. The difference is $10,000. Multiply 10,000 by 1.25 to get 12,500. Round it up, and you would borrow about $13,000. Each year (if you are getting a four year degree), you would borrow $3,250.

Other considerations

You also need to consider how much you can afford to borrow. With the job you get when you finish, will you be able to handle the loan payments? If you won't be able to afford the loan on your salary, you might want to reconsider your major, or the amount that you are planning to borrow.

Perhaps you should consider a less expensive school as well. Private schools can cost as much in one year as many state school cost in the entire four years. Consider that most private schools do not offer a big enough edge to make paying (and having to borrow) the extra worth it.

Consider your loan type

Another thing to consider is the loan type. If possible, avoid private student loans, since the interest rate is usually higher, and this will result in paying more money back. A federal student loan will result in a lower interest rate, and if you get a subsidized loan, you will not accrue any interest until after you are done with school. This can allow you further savings.

Carefully consider your options before taking out student loans. They can be very helpful, but like any other debt you can find yourself in over your head.

*About the author: Miranda Marquit edits information on debt consolidation for DestroyDebt.com.

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10 Ways for College Students to Cut Costs where it Counts

(This is a guest post by Heather Johnson*)

There are three essential liquids that every college student needs to survive and prosper. These vital beverages are (in no particular order):

Water — The original clear stuff quenches your thirst like nothing else and helps you sustain that fit young body.

Coffee — Nothing else stimulates and sharpens a mind dulled by too little sleep or too much of everything else like a hot, strong cup of mud.

Alcohol — Whether you prefer the stuff that comes in a stein, a snifter, or a shot glass, the only way to make the whole college experience worthwhile is to enjoy an adult beverage every now and again.

During the four or five or nine years that you spend as an undergrad, you could easily spend several thousand dollars on just these three indispensables. Follow these ten simple strategies and you will never go thirsty again (and you might even have enough money left over to pay your tuition).

Water: This topic will be addressed in just a couple of points because it is so damn easy to save a ton of money by making simple changes.

Drink Tap Water: That’s it—done and done. Get a Nalgene or steal your friend’s empty nine-dollar bottle of volcanic spring water and then just fill it from the faucet. Tap water really doesn’t taste all that bad and is usually better for you than pricey bottled water because of the various minerals that are added by your friendly local government. Best of all, it’s virtually free. Carry your new best friend everywhere you go and you won’t be tempted to spend your change on soft drinks that not only cost money but are bad for you as well.

Fake Filter: If you just can’t bring yourself to drink water that’s not filtered in some way, then buy a Brita and never bother to change the filter; you’ll never notice the difference. Keep this glorified pitcher in the fridge and every sip will be cold and delicious. Make this simple adjustment from bottled water and you won’t believe all of the extra cash suddenly stuffing your pockets.

Coffee: Drastically reducing the amount of money that you spend on your daily caffeine fix is a simple task as well. Follow these couple of rules a smaller portion of your cash will end up in the Pacific Northwest.

Caffeinate Like a Towny — Track down a native and follow him to a local java house rather than following the herd of your classmates to the big chain in the student union. Find the right place and you’ll still get a great cup of joe at a significant discount.

Brew Your Own — Better yet, cut out all of the middle men and their outrageous mark-ups. Invest in your own coffee machine, buy some cheap beans, and start your day with a cup of the good stuff before you even open your front door.

Alcohol: You’re likely to spend more on beer and its brethren than water and coffee combined and this list has been constructed with that reality in mind. Here are six methods to saving money without sacrificing any fun.

Be Cheap — Once you’ve sacrificed a few decades to the workaday world and have earned that corner office, you’re welcome to all the Johnny Blue you can drink. Until then, drink your can of Natty Light and smile; the cost fits your budget and in the long run it does the job just fine.

Pre-Game — Bars and restaurants make money on their huge mark-ups. Hit up Discount Liquors on the way home from your last class and spend an hour or two on the couch before heading out.

Let Them Woo You — Local establishments will do almost anything to draw a college crowd and that is good news for you. Become a walking calendar of drink specials and hit the right spots on the right nights.

Be Flexible — Speaking of specials, don’t just seek out discounts on pitchers of Bud Light. Expand your horizons and hit up the tapas joint for half price sangria, the burrito dive for two-for-one margaritas, and the sushi bar for sake bomb Sunday. Never discriminate when it comes to cheap booze.

Brew Your Own — Just like #4 above, this will cut out all sorts of costs and inexpensive starter kits make it simple to start your own mini brewery under your bed. Plus, there are worse things than being known across campus as Mr. Beer.

Be a Hot Girl — Sorry if this last one is not a feasible option for you, but it is the one truly fail-safe way to ensure that you will never ever have to buy your own drinks. (Other than not drinking, of course, but that is not even worth mentioning).

*About the author: Heather Johnson is a freelance business, finance and credit writer, as well as a regular contributor for BusinessCreditCards.com site for comparing small business credit cards. She welcomes questions, comments, and freelancing job inquiries at her email address heatherjohnson2323@gmail.com

*Image Credit: Photograph by mre770 [via Flickr Creative Commons]

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Single Parenting and Finance

(This article is part of a weekly guest column by Claire Moylan*)

When you are a single parent, it becomes even more important to have a good handle on your finances. You may have one or many children that are relying on your ability to generate sufficient income and reduce expenses enough to keep a roof over their heads. While the responsibility of single parenting is enormous, it can become even harder when faced with additional financial burdens. Here are some tips to help you provide for your future and that of your little ones.

Get Help Sooner Than Later – If you are divorcing, make sure that you get enough child support to help you bring up the kids. If you need help and have a low income, you may qualify for some assistance, either through food banks or daycare or financial assistance programs.

Have A Job With Benefits – For a working parent, benefits are essential to providing good healthcare and other additional perks. Some of the benefits that can work well for single parents besides healthcare are flexible spending accounts and company-matched retirement accounts. Using flexible spending accounts a parent can budget daycare and out-of-pocket health care costs in a pre-tax format. Company matching retirement accounts help make the little you do manage to put aside grow a whole lot faster.

Locate Reliable Daycare – Daycare is expensive, but it can cost you your job if it is unreliable. Unlike a dual parent home that has an emergency backup in case your regular daycare is closed, a single parent doesn’t have another adult in the home. You will want to make sure that your daycare is reliable or have some emergency backup daycare providers (family, neighbors, friends) so that you can continue to work.

Take Advantage of Low-Income or Parent Programs – There are low-income programs for school lunches. Some day care provides a discount on multiple children. After school programs sometimes offer single parents a discount too. If you’re not sure, ask. It may surprise you to learn that there are discount programs out there targeted specifically towards helping single parents survive.

Understand Your Tax Situation – If you are single head of household, you will be in a different tax bracket than a married householder. This can also lower your withholdings and make you eligible for a child tax credit at the end of the year. Be sure to check out your tax obligations early so that you have the money in your pocket during the year when you need it.

Be Creative With Your Situation – Maybe you can trade instead of pay for some of your services. Is there another single parent around who can do daycare in exchange for a room in your house? Why not pool your resources? Do you have a hobby you can turn into a side business after hours?

Reduce Your Expenses – Most single parents know all about consignment shops, discount grocery stores, and how to make do with very little. The three main expenses of food, clothing, and shelter all need to be budgeted to make sure that you always have what you need to make do.

Locate Sources of Credit – You will have debt as a single parent. The point is to not get in over your head. You do need to locate sources of credit for those emergency situations. If family can’t help, then using a credit card can be one way to extend your ability to pay. Just keep a tight reign on this as it can easily balloon out of control.

Get Free Emotional and Physical Support – If there is no single parents group in your area, think about starting a network or hopping online. You will need to access to resources and programs out there that can help you overcome some of the financial hurdles that single parents face. It’s also important to have someone to share your troubles with so that you don’t feel alone. This can help you to keep a positive attitude.

Being a single parent is tough and there are multiple ways to cope financially. However, all children grow up and these financial hurdles will eventually pass as they fly the nest to make their own way in life.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

*Image Credit: Photograph by WhatDaveSees [via Flickr]

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Is Your 401K Tempting You To Borrow?

(This article is part of a weekly guest column by Claire Moylan*)

It’s certainly nasty out there in the lending world right now. As banks tighten their credit requirements, some people are wondering how to pay back large credit card debt or fund a down payment for a home. While many Americans haven’t been model savers in the short-term, many have retirement accounts that are a tempting source of money when times get tough. The amount of people borrowing from their 401K plans is increasing. It’s estimated that at least 20% of Fidelity’s clients are borrowing against their 401Ks. However, is this really a good option when money is tight?

Some Things To Consider

The reason people borrow from their 401K plans is because it’s easy to do. You just go to your employer and fill out some paperwork. In about a week, you have a loan to you from your own 401K account. The loan repayment can range from 1 to 5 years, sometimes 10 years, and is usually with a lower interest rate. Whatever interest you do pay when you repay the loan is returned to your account. So, the idea of borrowing from your 401K to reduce your debt burden elsewhere is very tempting. Even though there are limits to how much you can borrow (typically 50% of your vested interest up to $50,000), if you have a large retirement account and you aren’t anywhere near retirement, you may think putting the money towards paying down debt is a good strategy.

This might be the case, if it weren’t for one thing: You don’t know how secure your job is in this economy. If you are laid off, terminated, or even quit to get a better job before you pay off the loan, the entire balance is due in full – and, within 60 days of your leaving! If you do not pay the loan back within that amount of time, then you are subject to the same penalties and taxes as an early withdrawal. These are quite hefty and can result in a tax bill of up to 20 to 50% of the value of the loan; depending on what tax bracket you are in. So, taking a loan from your 401K is a risk if you leave your present job (for whatever reason) and can result in a large tax bill.

The Alternatives

Other forms of loans that can help you in the event you need to get funds for a major purchase, like a home, or to repay a large amount of debt are: home equity loans, loans from credit unions or banks, or even a personal loan.

Home equity loans – A home equity loan uses the equity in your home to help you consolidate your debt and pay it off. You can get some good rates on home equity loans and is a way of putting your equity to work for you, even while you still live in the home. Although this type of loan won’t come due if you lose your job, you do have to continue to make the monthly payments on time in order to keep your home. Since this is a risk with any home equity loan, you want to check to make sure that the terms of your agreement can be met and that you can afford the loan.

Loans from banks and credit unions – If you belong to a credit union, they are very good for helping people lower the rates on their existing loans. Banks will have more market-competitive rates but are also a good source for lending, if you have good credit and some assets.

Personal loans – Don’t overlook friends and families. You can even go to Prosper.com and get a personal loan from total strangers. If you want a loan to start a business or consolidate high interest debt and are having trouble with a bank, try to find someone who might know you who is willing to take on the risk based on your character. If you are paying 10% to someone else and they are willing to give you the loan at 7%, you are not only making a friend richer, but saving yourself some money too.

There are a number of creative ways to find financing, besides your 401K. Unless you are sure you intend to be at your job for the duration of the loan, or have funds to pay it back quickly, then it’s best not to tap this source.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

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If you feel tempted to take money from your 401K, look into getting a small grant from the government. If you need the money for school, there are many educational grants that can assist you, not to mention pell grants.

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Repairs And Maintenance That Save You Money In The Long Run

(This article is part of a weekly guest column by Claire Moylan*)

When you own something, in a lot of ways it owns you: your time, your money, and your commitment to keeping it up. This is true whether what you own is a home, a car, or a computer. Whenever you decide to make a purchase, you have to realize that there are maintenance costs that come with almost every purchase. Maintenance can help lengthen the life of your purchase and thus end up saving you money. Repairs can help you avoid costly accidents and liability issues from leaving something broken. Finally, there comes a time when you have to realize that your purchase has exceeded it’s lifespan and then you must know when to let it go and buy a replacement to save money on repairs. Here are some quick tips to repair or maintain a variety of purchases.

Wardrobe

• Learn To Sew - Don’t throw a piece of clothing out if it is missing a button. Instead, learn some quick sew tips to lengthen the wear of your expensive goods.
• Buy Wash and Wear – The less you have use dry cleaning services, the more you save on maintaining your clothing.
• Invest In Classics – Of course, you do want some classics to dress up a wash and wear wardrobe. Leather jackets may cost a bit extra, but they also wear forever with good care.
• Locate A Shoe Repair Shop – Get your soles redone or a total shoe restoration. It’s usually far cheaper than buying new shoes.

Car

• Change The Oil – Changing the oil can keep your car running smoothly and prevent costly repairs.
• Change Your Air Filter – This can even improve your gas mileage.
• Inflate Your Tires – This is another great tip for getting good mileage out of your car and reducing wear and tear.
• Follow Your Manufacturer’s Maintenance Schedule – Each car comes with it’s own set of repairs that should be done at 20,000 to 60,000 miles. If you keep up to schedule, you can significantly extend the life of your car and avoid major repairs down the road.

House

• Cut Shrubs and Trees Away From House – If you keep the landscaping trimmed away from the house, there is less change it will damage the roof, the gutters, or attract squirrels and other pests.
• Clean The Gutters – You want to keep the gutters free of debris so when it rains or snows, moisture is taken away from your house and not allowed to cause damage around the foundation or on the roof.
• Caulking Doors And Windows – This is something that should be checked with the change of seasons to see if it needs to be re-caulked. It saves money on your utilities.
• Maintain Major Systems – You want to make sure your air conditioner is in proper shape as well as your furnace before the season starts. Maintaining these systems keeps them working and avoids costly repairs down the road.
• Install Working Smoke Detectors – This type of maintenance deals with preventing major liabilities in the future. Of course, most homes are required to have working smoke detectors.
• Remove Dead Limbs And Wood From Lawn – This is to keep termites from finding them and setting up shop.
• Repair Any Moisture Leaks Immediately – Whether the roof leaks or your toilet is dripping, moisture can cause excessive home damage and can be a huge expense if not repaired immediately.

Electronics/Appliances/Computers

This is one category where it sometimes pays to trash something you own, rather than repair it. Check out the prices of new equipment before you make significant expenditures to fix a problem with your electronic equipment. Other than that, here are some things that can lengthen the life of your electronics and computers:

• Get Virus Protection – No one should own a pc without buying virus protection anymore. It’s simply too risky.
• Do Regular Spyware Checks – You can download spyware detectors for free and run them regularly to keep this type of hack off your pc.
• Use A Surge Suppressor – This very inexpensive device has multiple outlets for all kinds of sensitive electronic equipment, including pcs. Use them to avoid a surge in electricity damaging your fine electronics.
• Replace Small Parts – Did your food processor container warp? Order a replacement for less than the cost of a new food processor. Just keep the information on all your appliances in one place.
• Check and Replace Batteries – It may seem a small thing, but people sometimes forget that a device uses batteries.
• Check The Cords – Sometimes cords can go bad but the equipment itself still works. Don’t forget to check any power cords or other types of cord that may have failed. Always throw out bad cords as they can pose a fire hazard.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

Image Credit: http://www.u-look.com.au

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How To Keep That Caring Spirit When You Are Broke – Part II

(This article is part of a weekly guest column by Claire Moylan*)

Yesterday, in part one of this article, we discussed the Caring versus the Thing economy. We also talked about the principle of paying yourself first, even when it comes to volunteerism. Here are some practical tips to learn how to do just that.

How To Pay Yourself With Volunteerism

One of the nice things about this service placement that I am doing is that Naropa University helped me to define a profitable volunteering experience for myself. They did it by having the format that helped to establish clear goals and the environment for achieving those goals. The non-profit group also had to follow guidelines that talked about their role in the volunteering and what they were expected to do too. Even if you don’t have a formal process to get started in a volunteer position, it can help you to define what you want to get out of this experience by following the same format. Write out five goals, your expectations of the people you are choosing to volunteer with, and how you intend to use this experience to further your goals in life.

So, keep in mind the following things when selecting a volunteer activity:

Know Your Field Of Interest - If you are learning to be a veterinarian, don’t volunteer at the local library. Try to get into a veterinary hospital. This is experience that can go on your resume and give you several references too.

Define Your Objectives – Like a good resume has a career objective at the top, so you should have some clear ideas of your objectives for this volunteer placement. Make sure you speak about them before you decide to commit your time. Tell them what your areas of interest are and try to get experience there.

Limit Your Time – Yes, you do want some experience, but remember that your paying ventures come first. They are what pay the bills. If you commit to five hours a week, don’t increase it out of guilt.

Network – Volunteer placements can be wonderful for networking. If you volunteer for specific conferences, you are sometimes allowed to go in for free too. This way you not only get paid to volunteer, but you have more opportunity to network with professionals in the field of your interest. How much is it worth to you to meet a famous person that you wouldn’t have met otherwise?

Eat For Free – While many people won’t pay you in dollars, agencies do like to sometimes offer volunteers free coffee, donuts, and the like. Eat up, and pay yourself some more. You already paid for gas to get there.

Do Your Best – Treat your volunteer work as a professional job. You never know when this experience might land you the job of your dreams. Keeping a professional attitude ensures that when they call for your reference, your name is associated with professionalism.

Do Learn What Feeds Your Soul – It isn’t all about the dollar bill and many people find they are happier doing things that have fewer financial payoffs. This is very valuable information and should be part of your volunteer experience. Learning what creates an expansive heart in you will ultimately provide health benefits, longevity, and a pleasure in life that a dollar bill will never be able to buy.

Don’t Be Afraid To Learn New Things – Okay, so they might ask you to do something outside your objectives. Make a careful decision on whether it will help you, them, or both of you. Then decide after you have a long conference between your head and your heart. Say no, if you really can’t afford the extra time. If you want to learn something new, saying yes might be a way to get new skills.

Know When To Cut Your Losses – Some volunteer jobs may seem ideal until you get in and they offer no experience, no networking, and no training. Leave. Answering the phone all day isn’t enough to pay you back for your time and gas. Unless you are extremely committed to this agency, you have to also think about how valuable your own time is and why they don’t answer their own phones when they are paid to do so.

Hopefully, at the end of the day, you will have learned new skills, gotten a new perspective on life, had a great volunteer experience, and still feel good for having helped someone out.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

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How To Keep That Caring Spirit When You Are Broke – Part I

(This article is part of a weekly guest column by Claire Moylan*)

Americans are typically big-hearted givers, but today’s chronically stingy economy can make a time miser out of anybody. It seems that if we want to make money, we don’t have the time to do the things that speak to our hearts. Fred Block, a teacher of economic sociology at UC Davis, talks about the two disparaging economies in his article entitled "The ‘Thing’ Economy and the ‘Care’ Economy." He makes a viable case that the strategies that support the economies into separate spheres are no longer working, and they are now competing against each other, and yet the two economies are important for a balanced society.

The Thing Economy Versus The Care Economy

The “Thing Economy” is all about productivity and the world of business. It is about producing goods and services that help society to run. Obviously, this is where companies and factories make most of their money. However, there is a whole another economy that is either completely unpaid or non-profit. This is the “Care Economy” and Block suggests it is all about when people care for each other or their natural environment. Block suggests that the two economies actually are competing for time and the care economy is getting the short shrift. While he offers no monetary comparisons or time being spent doing work within either of these economies, the idea may have some basis.

I am having that same battle with a service placement I am doing currently. Service is the opportunity to give back to our community the same way it gives to us. So, basically it is volunteering. I love the work, it is being offered for a non-profit that really can use the help, but there is no money in it. However, the volunteer placement is required by a Master’s program that requires 120 hours of community service in my field. So, I have to ask myself: Is it really worth it to me to give 120 hours worth of work for free to anyone when you are trying to get your own bills paid?

Determining The Costs Of Volunteering

Unfortunately, the way that we have been programmed to see our time is by the billable hour. So, if you take your hourly wage and multiply it by the number of hours you intend to volunteer (don’t forget travel time, meals, and gas expenses), you begin to really wonder what the point of volunteering is anymore. It certainly doesn’t help to pay the bills in the present and actually costs me to volunteer free time. It’s not really free time because I’m paying for it and that is the core of the conflict within the Thing versus the Caring economies. How can I care when I don’t even have the basic things I need to allow me to provide my services for free?

I’m sure I’m not the only one with this dilemma and that’s why most of us would prefer to give a few dollars here and there than to actually have to spend time helping someone else. It costs far more to actually have to go somewhere and help someone else. Then we begin to feel volunteering or caretaker burn-out and resentment can set in. Is this really a product of too much giving, or is it due more to the comparison that automatically happens when we give? We start to think about how much it is really costing us in a dollar sense. Is there a way to do this volunteering business such that we take care of ourselves also while attempting to help another? Wouldn’t that be the ideal?

Learn How To Pay Yourself First

You’ve heard it before in financing: pay yourself first. If you want to save, you have to pay yourself first, otherwise the emergencies and day-to-day hassles of life suck you dry. Could it be though that this financial principle is really more of a philosophical principle that could help us learn how to properly implement a caring society? Is the point of a caring society to deplete the resources of those who care or is it to learn to give wisely to those in need? I think we should use this principle in many areas of our lives, even in volunteering.

So, don’t fall into the trap that volunteering is all about giving, otherwise, you’ll never give enough back to yourself. You have to be able to receive too, otherwise, what you are agreeing to is just another form of slavery. It may make you feel good to volunteer, but if you have financial obligations that aren’t being met because of your volunteer activities, find some way for that volunteerism to benefit you financially in the future. Volunteering can still work in a thing economy, if we learn to pay ourselves first. That is a basic exercise in all good accounting systems. If you don’t pay yourself first, you will be left without later on when you need it.

Tomorrow, I will talk about the step-by-step instructions on how to learn to pay yourself first when you choose to volunteer.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

*Image Credit: Community Service Program @ Milton Academy

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Cheaper Housing Options For The Mortgage-Battered

(This article is part of a weekly guest column by Claire Moylan*)

Housing used to be a solid investment, but it has become less so over the years. Now, we don’t know with any certainty when housing will recover enough to be worth looking at it as an investment again. Of course, the American Dream is all about owning your own home, and this has plenty of emotional payback, but if you want to just buy a home as an investment, you might want to compare several choices: renting an apartment or home, co-housing, and buying a smaller home.

How Housing Has Changed
There were red-hot areas in the United States that were seeing double digit appreciation on homes. Now, these same areas might be experiencing thousands of dollars in devaluation. Until the inventory in housing starts to lessen, the odds of getting a home that will retain or gain in value is an iffy proposition in some markets. Even if you find a home you want to buy, it has also become much more difficult to qualify for a mortgage because even lenders have gotten scared. Gone are the days of no down payment. Now, you will be expected to have at least 10% available for a down payment. Your credit score will also be very important. Your income will be scrutinized much more severely to make sure that you can make the payments on the home. If after all this, you qualify, you still might find your lender has collapsed and the deal has been canceled. If you do not qualify for the home, you still have an option to rent until the market changes or your financial situation improves.

Why Renting Can Be Good
Renting can be a positive experience, when compared to owning a home you can’t afford. You won’t be responsible for maintaining the structure of the apartment or home that you rent. In a market where the housing prices are dropping, people who own housing may try to meet their financial obligations by renting it out instead of selling it. This can lower the price of rentals. You can get all of the emotional benefits of being in a house without feeling the pain of having a mortgage over your head. You won’t get any tax write-offs, however.

If you don’t mind being in an apartment community, you can also wait for the housing prices to bottom out in a more luxurious setting. Apartment complexes do many things to attract renters, adding pools, clubhouses, and sometimes even on-site gyms. Any money you save when renting can be put aside for your down payment, when you see the housing prices start to recover slightly.

Co-Housing To Share Expenses
Some people get tired of buying a house with everything in it and instead opt for co-housing communities. These communities can offer a very neighborly feel and they share many resources too. You probably won’t save money on a price per square foot basis, but the homes are also built in these ecological-friendly communities to be smaller and more energy efficient than today’s standard McMansions. People who live in these communities are usually more involved in sustainable living and are apt to share anything from tools, to kid’s toys, and everything in between. Often, such communities have childcare options for the people living within the community that can be a substantial savings for family with children. Many offer community meals that can help save on food and preparation costs. The common areas are maintained and held in common ownership by all the members of the co-housing community. This means that you probably will have to give some of your time back to the community on a monthly basis.

Living Within Your Means
Sounds old-fashioned and boring, but it’s also the best way to have a sound financial footing when buying a home. It also means that if prices drop, your loss is less too. Most experts agree that drops in housing prices are temporary and if you plan on living in a home more than five years, you probably can ride out some if not all of the damage. In the meantime, you can get a smaller home that you can afford with your income. This will give you a tax write-off and the capacity to build some equity. This is good for people starting out buying their first home or for those who wish to downsize. By buying a smaller home, you save money on the mortgage, on the utilities, and on maintenance too. Plus, you won’t be tempted to buy a lot of extra stuff you don’t need to fill the house up. While it may not be the house of your dreams, it can be a very wise step towards your final goal of getting into another home that does meet the standard for being the home of your dreams.

About the author: Claire Moylan is a freelance writer specializing in ebooks and custom-tailored articles for niche websites. You can view her portfolio online or check out her constant content page for more information about her writing assignments.

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