What should you look for from a bank when opening a student bank account? [gate]

The essential factors are convenience, fees and the ways you can access your money, according to financial expert Mark Kantrowitz.

Take it from the expert - here are Kantro's top banking and ATM guidelines tips to follow:

Convenience. Look for a bank with ATM locations on or near campus. Other banks will charge a fee to use their ATMs if you’re not an account holder, so make sure there are convenient ATM locations close to campus.

No fees. There should be no withdrawal fees from the bank’s own ATM's, and no monthly or minimum balance fees.

Debit card vs. ATM card. A debit card will allow you to make purchases with the card, while an ATM card limits you to making withdrawals from an ATM.

Other features worth considering include:

• Mobile banking and text message alerts when account funds are too low.

• Online banking and bill-paying services.

• Easy access to the account so Mom and Dad can deposit money remotely.

• A nationwide bank is nice, since it means you’ll be able to access the account if you move far away after graduation.



In addition, Kantro says, "Many college financial aid offices are now disbursing financial aid through debit cards. These debit cards often have high fees. You have the right to have the college automatically transfer the financial aid to the bank account of your choosing. Ask the bursar’s office or financial aid office how to have the money transferred directly to your bank account."

"After you graduate, set up your student loans to automatically debit the monthly payment from your checking account. Not only will that ensure you pay the bill on time and save you the cost of a postage stamp, but most lenders will offer a small interest rate reduction to students who sign up for auto-debit and electronic billing," suggested Kantro.

Pinching pennies? Who isn’t? Welcome to college.

But just because extra cash isn’t pouring in doesn’t mean you absolutely have to dedicate yourself to a diet of only Ramen noodles.

Adjusting to a new budget can be difficult, but here’s a few steps to help make things a bit easier.

1. Set a budget

Know your monthly income and know how much money is needed to pay your bills. It’s a good thing to know how much each monthly bill is, and it doesn’t hurt to overestimate.

This may seem simple enough, but do you really know where your money is going at the end of the month? You may not count things like a few items off the dollar menu every now and then, but little expenses add up.
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For example, if you’re only getting $3 of extra food from the dollar menu every week, that’s $12 a month and $144 a year. Instead, invest in some snacks from the supermarket and bring them around with you. Do the same for bottled water and sodas. If you’re getting something out of the vending machines everyday, one drink a day will add up to $30 a month. Buying in bulk can be much cheaper.

2. Have some will power

Shopping trips are fun, but so is bargain hunting. But even the cheapest shirts aren’t really a bargain if you don’t really like it to begin with and it sits in your closet unworn for the next year.

Shopping is actually an inexpensive fun activity that has no cover charge and can be cheap with some will power and good knowledge.

Always go for clearance racks and know what time of the year to shop for certain items. Warm weather is beginning, so it’s a great time to stock up on winter clothes.

3. Find cheap alternatives

Date nights and get-togethers don’t always have to be expensive. Instead of going to the movie theaters, try getting a redbox.

Also, instead of going an expensive restaurant or a bar with a cover charge, do a little grocery shopping, make a lunch and take it to the park. Relive your childhood and swing on the swings. Go for a walk. Swim in the lake.

There are numerous fun summer activities that won’t cost you anything.

4. Take care of your car

Cars are expensive, and probably the worst investment anyone could ever have. But the better they are taken care of the better off you are. Make sure your tires have adequate air, which will help with gas mileage.

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Also, don’t overdo the air conditioning for hot summer days. When going low speeds, try rolling down your windows.

5. Check with your bank

Nowadays many banks will have ways to help you save. Check with your bank and see if you can set up automatic transfers online.

Each month, have some money transferred to a savings account.

Even if it’s only $5 a month, it’s a small amount of money that you won’t miss too much, however it will add up in a savings account over time.

Last but not least, don’t forget to live a little. Saving is important, but money isn’t everything.

After you’ve learned your budget, be sure to treat yourself every once in a while, too.

What tips do you have for saving money?

The holiday season is one of the most expensive times of the year. So how do you buy meaningful gifts on a student budget?

At Fastweb, we’ve scoured the web for gifts for each of your friends, based on their personalities. As you shop, remember that most sites are recommending that you order your gifts by December 21 to get them in time for the holiday season.

Let the gifting begin!

Under $20

Help them stay organized next school year with a chic, comprehensive planner from Jonathan Adler and Paper Source.

Under $10

While it’s important for your friend to make every meeting and class, it’s equally important for them to take time to chill. Help them out with a Zen Garden.

Under $5

Help them stay organized but effectively showcase their retro style as well with these bicycle clips from Paper Source.

Though your friends work hard all year to stay in shape, their equipment sometimes works harder. Replenish their athletic accessories with these gift ideas.

Under $20

Has your friend been indulging in Bikram Yoga all year long? A hot gift might be a new yoga mat.

Under $10

Replenish their workout with a durable water bottle, and they’ll thank you every time they take a refreshing sip.

Under $5

Every golfer is notorious for losing golf balls – it’s just part of the game. Give them the gift of a chance at a better game with these practice golf balls.

A gift for your music loving friend would be sweet music to his or her ears. Plus, our gifts for music lovers would keep giving throughout the year.

Under $20

Help them stay on top of new music with a year’s subscription to Entertainment Weekly through Amazon.

Under $10

Critics have been raving about Florence + the Machine’s new album. If your friend doesn’t have it yet, they should. Send them an Amazon download of the album.

Under $5

Help them strum their favorite tune with a pack of 10 guitar picks from Amazon.

Is your friend a little high maintenance and would never forgive your neglecting her in your gift giving? You’ve got it covered. After all, your life would be boring without her so why not thank her with gifts full of drama.

Under $20

This summer’s blockbuster, The Help, would provide a perfect way for your friend to unwind after a long day of being fabulous.

Under $10

The Hunger Games provides a drama that is all its own. Give her this page turner, and it will easily be her favorite present of the year.

Under $5

Your friend doesn’t need any help looking beautiful, but you know how much she adores beauty products. Help her shine with Sephora Lip Gloss.

Have that friend that is addicted to Top Chef and finding the next best restaurant in town? Give your foodie friend a delectable gift that is too delicious to pass up.

Under $20

Turn your friend from a sushi connoisseur to a sushi chef with this sushi maker kit from Amazon.

Under $15

Anyone can eat like a rock star but it takes a lot more skill to cook like one. Now, your friend can with this cookbook from Amazon.

Under $5

If your foodie friend is more into baking, consider giving a gift that will be the icing on top of a wonderful holiday season.

An artist is only as good as the materials he or she uses. Help your friend create beautiful pieces of art with your holiday gift this year.

Under $20

While your friend may take his or her work seriously, it’s fun to make a game of it too. Play along with your friend in this art-driven game from Paper Source.

Under $10

These temporary tattoo animals may appeal more to the child at heart, but it will be a big hit with your friend, especially if they’re willing to deck you out too.

Under $5

Inspire them to learn a new artistic trade with this gorgeous calligraphy pen.

Everyone has that friend who has it all, which makes it all the more difficult to find that perfect gift. Fortunately, we’ve got a line-up gifts that your friend probably hasn’t even thought to get herself…yet.

Under $20

A lunchbox for a gift may seem juvenile at first, but when it’s time for your friend to “brown bag” it during their internship or real world job, they’ll be so thankful for this chic alternative.

Under $10

With a photo keychain (that displays up to 60 photos!), your friend can carry her favorite memories with her at all times.

Under $5

Although gift baskets with bubble bath, salts and soap are a bit overdone, your friend who has it all could never have enough.

The guy who has everything may not have even thought of these off-the-wall gifts. Make him laugh or wow him this holiday season.

Under $20

If you’re worried about taking a gamble on his holiday gift, this automatic card shuffler from Amazon is your best bet.

Under $10

Mustaches are all the rage right now so why not celebrate them by giving your friend this mustache mug.

Under $5

Give your friend a laugh this holiday season with these dill pickle flavored mints from Amazon.

Have any other great low-budget gift ideas? Share with us now!

You see the offers everywhere, free duffel bag for signing up for this credit card, free water bottle, campus gear and sometimes even free money. Before you go signing on the dotted line, find out what you’re really signing up for.
If you’re serious about considering a credit card, find out what kind of card it is. Not all plastics are created equal, find the one that’s right for you before signing up for anything.

*What kind of card is it?*

*Charge Cards* –This type of card requires the card-holder to pay in full every month and it doesn't have a preset limit. Purchases on a charge card are approved based on spending and payment history, financial resources and credit record. There is no interest rate or minimum payment on these cards, since their balance must be paid in full.

This differs from a credit card, which allows its users to carry a balance and has an interest rate.

*Secured Credit Cards* – Under this card the card-holder deposits funds with a bank or financial institution. The lender allows the card-holder to make purchases using the card from 90% to 150% of the amount deposited. This type of card allows individuals with poor credit to have the convenience of a credit card while maintaining a source of money that the card will be paid from.

*Premium Credit Cards* – Often the infamous cards of the stars these credit cards go by names such as “gold” “platinum” and “black” and offer incentives and benefits such as cash back, reward points and travel upgrades to their card-holders. Premium cards require a minimum income and have an annual fee. The Visa black card (made with carbon) will cost you $495 a year just to carry, while American Express’s Centurion card will cost you a rumored $2,500 a year plus a onetime joining fee of $5,000.

*Business Credit Cards* – These are meant for business use for business owners. They enable card-holders to keep business and personal transactions separate.

*Limited Purpose Cards/Retail Cards* – These are store cards, often used in retail clothing stores for example. They often offer a discount on your first purchase and coupons throughout the year. According to American Eagle Outfitters.com their card gets you 15% off your first purchase, $10 in savings coupons and a 20% birthday coupon. Depending on the type of card, you may be able to use the retail card at locations other than the one where you received the card.

*Affinity Card* – Offers rewards to groups and organizations. A charity may offer a card and receive a portion of the revenue from that card each time the card-holder makes a purchase using that card.

Selecting the right credit card can be crucial when it comes to saving you money. Now that you know there’s different kinds of cards make sure you know what you’re getting before you commit to one.

Decide how you’re going to use the card, how frequently and whether you will pay the balance in full at the end of the month or not. Find out the annual percentage rate (APR) - which is the amount you’ll pay in interest charges per year. The annual percentage rate can vary depending on your credit. If you have a good credit rating you will probably choose a card with a low annual percentage rate. If you’ve never had a credit card or have poor credit you will have a higher annual percentage rate. Find out how long the grace period is (how long you have to pay the balance before you’re hit with a fee), what the credit limit is and any additional fees and charges.

Doing the legwork ahead of time can save you a lot of money in the end. Don’t fall for credit card scam and free giveaways! Accumulating bad credit in college can impact you for years to come.

By now, you’ve heard from your elders that credit cards can really get you into trouble. And you can shrug off this advice and say you’ve heard it all before, but we’re talking about a different kind of trouble than thousands and thousands of dollars in debt.

Let’s face it: as a college student, you can sometimes be…forgetful. Whether you abandon your purse at your library study spot for an hour while you call your mom for a quick chat or accidentally leave your wallet behind at your late-night eatery, it’s more than likely that at some point, your credit card, driver’s license and maybe even your social security card (by the way, DON’T keep your social security card in your wallet or purse – keep it at home!) will be in someone else’s hands.

You can hope that it will be found by a nice person, but what if someone not so nice picks up your purse or wallet – and then uses your information for him or herself? What if they take on your identity? And not in a Parent-Trap-let’s-switch-identities kind of way.

Merriam-Webster defines identity theft as “the illegal use of someone else's personal information (as a Social Security number) in order to obtain money or credit.” In a case of identity theft, someone would take your information and open credit cards or take out a loan in your name.

So if it happens to you, how do you fight it?

1. Place a fraud alert on your credit reports.

According to the Federal Trade Commission (FTC), “fraud alerts can help prevent an identity thief from opening any more accounts in your name.” Setting up a fraud alert is easy – you just have to contact one of the three companies in the country that will place a fraud alert on your account. Once you contact one of these companies, they will contact the other two – making it a little easier for you.

• TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790

• Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374- 0241

• Experian: 1-888-EXPERIAN (397-3742); www.experian.com; P.O. Box 9554, Allen, TX 75013

2. Close accounts that have or might have been opened through your stolen identity.

Speak with someone at the bank or credit card company where accounts or debits were fraudulently made, preferably someone within the security department. They will give you the opportunity to dispute these charges and hopefully get all of your money back.

3. File a police report.

Wherever the theft took place, whether on or off-campus, file a report with the police. More than likely, they will never find who stole your purse and took your identity, but filing a report will help you deal with the security departments at banks and credit card companies. They’ll know that your claim that your wallet or purse was taken is legit.

4. File a complaint with the FTC.

This last step will enable the Federal Trade Commission to track down identity thieves and prevent them from doing any further damage. You can file a complaint through these outlets:

• Online: www.ftc.gov/idtheft

• Phone: 1-877-IDTHEFT (438-4338); TTY: 1-866-653- 4261

• Mail: Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580

A stolen identity situation, especially if it happens while you’re in college, can be scary. But by taking the right precautions, you can have the matter and your name cleared. Just be careful where you leave your purse or wallet, who you give your information to as well as where you provide your info over the phone (i.e. in line for coffee or in the student lounge). Taking basic precautions can prevent you from ever having to clean up the mess that someone else made in your name.

In 2009, Sallie Mae released a study that the average college graduate leaves school with as much as $3,173 in credit card debt. And that’s in addition to the nearly $23,000 in student loan debt.

That same year, in response to the faltering economy and as one of his first acts in office, President Obama signed the Credit Card Accountability, Responsibility and Disclosure Act of 2009 – more informally known as the Credit CARD Act. This law established tighter restrictions on the way credit card companies could market to students under the age of 21.

Hopefully, these stricter guidelines will prevent students from amassing so much credit card debt as the amount borrowed in student loans no doubt raises along with increasing tuition costs.

So what can you expect to find from credit card companies as a student?

Required Co-Signer or Legitimate Income

Gone are the days when you could just get a credit card because you filled out a form. If you are under 21, you are required to have a cosigner who is just as reliable for that credit card debt as you are. And guess what? All of the experts are telling your parents it’s a bad idea to cosign on your credit card.

If you can prove that you have a legitimate income that provides the means to pay your credit card monthly, you may qualify for a card.

So what should you do if you can’t get a card? Live frugally with a debit card.

Just Say “No” to Free Stuff

Back in the day, credit card companies courted card-vying students with free pizza, t-shirts and sub sandwiches just for filling out an application. Under the Credit CARD Act, companies can no longer hand out free stuff to entice students to apply.

Fewer Preapproved Cards

Good news. If you’re under 21, you will get much less junk mail from credit card companies saying you were pre-approved for a credit card. That’s because credit card companies can only access your credit report if you give them permission.

Recommendations for Colleges & Universities

While credit card companies are required to give college campuses advanced notice of being on campus to advertise their cards, colleges and universities are required to educate students on being a responsible credit card holder.

College presents many opportunities to step up to the plate and start taking on more responsibility. Just like making it to class on time and taking care of your dorm room, managing your money properly is your responsibility once you get to college.

Fortunately, there are a plethora of student bank account options to help keep you in the green.

Mark Kantrowitz, a well-respected financial aid expert, highlights what students should be looking for from a bank when opening a student account:

• Convenient ATM locations close to campus. This will prevent students from withdrawing from other banks, which typically charge a fee if you’re not an account holder at that bank.


• No withdrawal fees from bank’s own ATMs.


• No monthly or minimum balance fees.


• Debit card over an ATM card. The debit card will allow students to make purchases with the card whereas the ATM card limits students to withdrawals from an ATM only.

• Mobile banking and text message alerts when account funds are too low.


• Online banking and bill-paying services.


• Easy access to the account so Mom and Dad can deposit money too.


• Nationwide bank that you’ll have access to after graduation—think Bank of America or PNC Bank.

Kantro’s picks for student-friendly banking centers:

• Bank of America


• BB&T


• Citibank


• Citizens Bank


• Fifth Third Bank


• JP Morgan Chase


• Key Bank


• M&T Bank


• PNC Bank


• SunTrust


• TD Bank


• US Bank


• Wachovia

As a college student, saving money isn’t just a choice; it’s a way of life. While you may be aware that students receive discounts at movie theaters and museums, you may not know about other little ways to save.

From discounts on spring break trips to grocery savings at Target, Fastweb has found the best ways for you to overindulge without going over budget.








Clothing

Goodbye, Goodwill. Hello, J. Crew. Stay in style with these student savings:

J. Crew – Offers students a 15% discount.

Club Monaco – Take advantage of clothes at 20% off prices with a valid student ID.

Topshop – This 10% discount is available to high school students too.

Banana Republic – 15% discount with a student ID, even on clearance items.

When buying online, search for promotion codes from websites like retailmenot.com, couponcabin.com, and offers.com. Typically, promotion codes offer additional discounts or free shipping.

Entertainment

Just about every movie theater and museum in America provides a discount for students. Here are some other ways to stay entertained without draining your checking account:

Broadway shows – Most Broadway shows offer a student lottery opportunity. At a certain point in the day, typically around noon, students can enter themselves in a drawing for seats in the first few rows. Drawing winners will only have to pay around $20 per ticket. Call ticket box offices for lottery times and details.

Have you checked your scholarship matches recently? See them now.

Restaurant.com – This site enables you to buy $25 gift certificates to your favorite restaurant for $10. Perfect for date night.

Sporting events – Some professional sports teams host student nights for local universities. Check the venue’s website as well as the local newspaper for dates and times.

Groupon.com or Livingsocial.com – Take advantage of great deals like half-off skydiving or horseback riding in your college town.
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Travel

Looking for a three-day weekend getaway or a hot spot for spring break? Score a deal on flights, hotels and more with student discount travel sites. Some of our favorites:

STA Travel

Student Universe

iSTravel








Laptops and Software

While laptops and software scream “school work,” think of all the fun things you can do with the money you save on school necessities. Now that’s something to get excited about.

Apple – Students can receive anywhere from $50 to $450 off of products and typically get a freebie with their laptop purchases, like a free printer or iPod Touch.

Dell – Get a Dell discount on everything from laptops to printers. And if you find another competitor who offers a lower price for an equivalent system, Dell will meet their offer.

HP – Sign up with HP Academy and get discounts on desktops, laptops and software.

Software discounts – Microsoft Office 2010, Adobe Photoshop CS5, Rosetta Stone, Norton AntiVirus, and Microsoft DreamSpark.

Other little ways to save…

Save 10 cents on Starbucks by bringing in a reusable mug.

For every reusable bag you can stuff your store purchases into, Target will knock off 5 cents from your total.

Invest in a AAA card for $50 a year and get 10% off online purchases at Target, 10% off at Hard Rock Café, 10% off Hyatt hotel rooms, and much more.

Stores like MAC Cosmetics and Staples reward for recycling. Bring in six used MAC product containers and get a free lipstick. Drop off your empty ink and toner cartridges for $2 in Staple Rewards.

Just because you don't have a lot of cash doesn't mean your social life has to suffer! Here are some ways that you and your crew can have a blast without busting the bank.

• The pot luck “crawl”. Organize a night where all of your friends make a different dish. Then go house hopping to sample each of the dishes. Like a bar crawl, but with food.


• The good old-fashioned potluck. Get a group together once a week and alternate whose crib the event will be held at. Everyone invited brings a dish. Before you know it, for a contribution of $5, you’ve got a big regular-standing home cooked meal.

See the latest in student life news here.


• *BYOB*. Everyone brings a six pack (of something LEGAL) and a bag of chips. Organize it around something fun (and free)—a sporting event, a TV series, hey, you can even organize it around election night! Or, forget the “event” and just plug your iPod into some speakers. A party will most definitely ensue.


• Movie night. Start a film club. Organize a crew for a once-a-week get together where you rent a movie and discuss afterward. Like a book club, but there’s no advance reading (don’t you get enough of that in class?). The upsides: This will work with every crowd—from action seekers, to horror lovers, to the IFC types. And once you’ve all chipped in on the $4 rental fee, you’ve had a good time for about fifty cents.

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• Card tournament. These are a staple at historically black colleges and universities with Spades, but they will work just about anywhere. Whether it's Poker, Spades, Bridge or whatever, it’s always a good time. Once you’ve organized a crew with regular game nights, narrow down the players in an end of season “tournament” and make the final game into a big BYOB event, where other non-players are invited. Up the stakes, and play for “dollars” on your meal card — in addition to bragging rights.


• Bring back the great outdoors. There’s so much you can do outside and most if it’s cheap or free. Bonfires are a great insta-party-- especially if you live near a beach. If you have a tent and a sleeping bag, camping is cheap to free and a lot of fun with great group of friends. Or, take the traditional pot-luck outdoors for a barbeque twist. Assemble your crew and let the good times roll!

So, you’re tired of your old clothes but you can’t afford to hit the mall. Or maybe you just want to get rid of some stuff to make a buck. It happens to the best of us. Here’s how to get a new wardrobe without spending your hard earned cash.

*Organize a clothing swap.* This is a great excuse for a party. Call up a group of people, and have them bring all of their unwanted clothing and accessories—everything from clothes and coats, to shoes, hats and bags. The party begins when people swap their old stuff for new stuff. The more people invited the bigger the selection. Any unwanted items to go charity. In the end, you’ve cleaned out your closet, got a new wardrobe and donated to charity in one fair swoop.




See the latest in student life news here.



*Hawk your stuff.* One man’s trash is another’s treasure. Sell your stuff on e-bay or get a group of people together and have a “dorm sale” (like a yard sale, but, well you get the picture). You can also sell your stuff to consignment shops—some will let you put the amount toward something else in the store. Which brings us to our next point…


*Consignment Shops.* Some specialize in designer digs. They’re a great way to pick up vintage clothes and accessories—and even a few items from last season for a few bucks a pop. The upside—you probably won’t see anyone else walking around campus in your clothes.


*“Bag, Borrow or Steal”.* Now a days you can actually rent the stuff you can’t afford. To rent a handbag, go to http://www.bagborroworsteal.com.


*Or, just borrow.* It’s old fashioned, and you don’t get to keep the clothes, but you’re wearing something different and that’s what counts. If you live in a dorm or a fraternity/sorority house, the options are endless.

Short on funds shouldn't mean you're short on brains. Don't be that guy who has to admit, "I was young; I needed the money."

True: being a college student means making mistakes, but in these financial times, there are some lessons it's better not to have to learn the hard way.

No matter how bad it gets, making one of these poor financial decisions will probably make your situation worse:

• Payday loans: Don’t mortgage your future paycheck by paying exorbitant fees to get your money a few weeks or days earlier.




• Credit card cash advances: Interest rates on cash advances are usually much higher than the credit APR.




• Selling textbooks early: You’re in college for an education to help you make money later in life. Don’t jeopardize that by selling books you will need to succeed in your classes.




• Gambling: Placing bets online or through the campus bookie might be a tempting way to double or even triple your money very quickly. However, the risk you assume is simply not worth it when money is already tight.




• Get-rich-quick scams: There is no shortage of offers that claim to earn you a lot of money in a short amount of time for doing next to nothing. Use common sense—offers that sound too good to be true probably are and should be avoided.

When Todd Romer was 16 years old he bought 10 shares of Johnson & Johnson stock with money he earned mowing lawns. "That was a tremendous lesson," he says. Now he's the editor of Young Money magazine, a publication he founded in 1999.

Becoming an Investor

Investing while you're a high school or college student isn't as outrageous an idea as you might think. "People think to become an investor you have to be 40 years old, and have hundreds of thousands of dollars," Romer says. He started with $430, but you could start with even less than that.

And you don't need an advanced business degree to learn good investing skills. "When you break it down, they're very simple concepts to understand," Dayana Yochim, senior writer for The Motley Fool, says. There are an array of books and Web sites you can use to educate yourself (check out the list at the bottom of this article).

Why Now?

"When you're young, living under your parents' roof, and don't have bills to pay, that's a great time to start socking money away," Yochim says.

Plus, time is on your side. A principle known as compounding increases the power of your money as it earns interest over time. For example, if in one year you earn 10 percent interest on an investment of $100, you'll make $10. Now, with $110 invested, still earning 10 percent, you'll earn $11 in the second year. So after two years, without adding another penny, you've made $21. (Experiment with this compounding calculator to see how long it would take to double that $100.)

When you invest, "you become an active student in the stock market," Romer says. "You become more astute about business," as you study your investment and figure out why the market is fluctuating.

Where to Start

The stock market is a good place for young people to start because it's accessible and offers the potential for strong returns. "You can't buy much real estate for $500," Romer says. And the low interest rates on most bank accounts don't generate much growth.

Web sites like Sharebuilder.com let investors purchase stock with no minimum account balance. You could start with $20. To find companies "open your closet. What are the products that you use? What are the stores you like to shop at?" Yochim asks. Then go online and find out if it's publicly traded.

There are other ways to invest in stocks. Dividend Reinvestment Plans (DRIPS) allow you to buy a single share of stock. As that share earns dividends, those dividends are used to buy additional shares. There are index mutual funds, in which you own a little bit of every stock traded on a particular index. There are also traditional mutual funds, made up of an array of stocks across many industries.

As part of your research, you might try "fake" investing to get comfortable tracking and researching stocks. Monitor the performance of stocks that interest you by setting up a free portfolio at Financials.com. Or play Fantasy Stock Market on the Young Money Web site. It's free, and you'll get $10,000 worth of pretend money to invest.

Are You Ready?

Before you invest a cent, look at your finances and determine if you can afford it.

Have you seen your scholarship matches recently? Check them out now.

First, "if you are carrying debt that's high interest, credit card debt, pay it off," Yochim says. If your credit company charges you 14 percent interest on your balance, and you can earn 10 percent on your investment, paying off that balance is a better use of your money.

Second, if you've got a short term financial goal, then a low-risk savings account might serve you better. If you'll need this money soon to buy text books or a car, then you'll want to have access to those funds and won't want to risk diminishing them. You should be in a position to part with the money you plan to invest for at least five years.

Finally, check your attitude. If you expect to turn your investment into millions within a year, you're setting yourself up for disappointment. "The stock market is very kind to patient investors," Yochim says. "The market is on an upward swing over the long term. In the short term, it's extremely volatile."

The stock market is not the place to try and make a quick buck. "It's a place to acquire wealth over time based on historical averages, and the compounding effect," Romer says.

Save money anywhere you can. College is expensive enough; cooking a healthy meal shouldn’t be. Use these tips to fill your pantry for less.

Spend Extra Time Planning Your First Trip to the Grocery Store

You’ve unpacked your boxes in your new place, now it’s time to pack the pantry with groceries. Your grocery bill will be the most expensive when you first move in. All the basics you usually have on hand, like olive oil, salt, sugar and toilet paper, need to be stocked in your new place. Adjust your budget to spend $20 to $40 more during your first trip to the grocery store.

Grocery shopping won’t always be as expensive as when you first stock your new place.

Shop at Different Stores:

Sure, it’s convenient to get all your shopping done at one store, but extra time stopping at a few stores could save you money. Flip through the advertisements each store sends to compare prices. You may find that the little mom-and-pop store has cheaper—and better quality—produce than the big chain grocery store. Does one store have specials for students or double coupon day? Remember, just because a store calls itself a “discount store” doesn’t mean they always have the lowest prices. Shop around.

Don’t buy things like contact lens solution, aspirin, school supplies and other non-grocery items at the grocery store. Likewise, avoid purchasing grocery items at convenience stores where they usually have high mark-ups.

Share Food:

Splitting your grocery expenses with roommates lowers your overall costs. Larger sizes of items, like milk, tend to cost less per ounce than smaller sizes. You probably can’t drink an entire gallon of milk by yourself, but sharing it with roommates saves everyone money. You’ll spend more if you live alone, but find a few friends to grocery shop with and offer to split large items with them. Wholesale stores, like Costco, have cheaper prices on some things, but don’t assume all items are good deals. Bring a calculator with you. To figure out if a case of cereal actually has a lower unit price than an individual box, divide the cost by the number of ounces.

Make a List (and Stick to It):

Tossing that box of cookies into your cart might seem like a good idea when you’re shopping after skipping lunch, but your food costs add up as a result. Plan what you want to eat for the week and make a list. Stick to what you need instead of falling for the impulse buys at the end of the aisle (supermarkets know this, by the way—things featured at the end of aisles typically have the highest mark-up and are the most tempting). Shopping for a week’s worth of groceries at once will also cost less than shopping for each night’s dinner separately when you’re more likely to buy impulsively.

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Buy Generic:

Most of the time generic and store brands are exactly the same as name brands but at a much lower price. Stores stock the highest-priced items on the shelves at chest level. Look around to find the generic version that can be less than half of the name-brand price. Household products like toilet paper and dish soap are also areas where you can get a good deal with generic brands. Even if you have a coupon for a name-brand product, the generic item will often still cost less.

Use Coupons:

Look in the Sunday newspaper, at in-store displays and on the back of items you’ve already purchased for coupons. Web sites like CoolSavings.com, TheGroceryGame.com and SmartSource.com have coupons you can print. Keep in mind that a coupon may save you a lot, but just because you have a coupon doesn’t mean something’s a good deal. Don’t buy 10 bottles of ketchup just because you have a coupon for it. Use coupons only on items you usually buy. If your local grocery has a preferred customer program, like shopper cards that give you special discounts, sign up for it. Check your receipt before you leave to make sure your coupons were deducted.

Earning and saving money as a student can be difficult. But with some research, you can get smart about your spending.

"Now is the best time in your life to live cheap," says MSN Money columnist Liz Pulliam Weston. "If you learn how to save money you will be ahead of 90 percent of your peers. You will build wealth."

Below, some well-known thrifty shopping gurus show you some tools, Web sites and strategies you can use to stretch your paycheck.

Research, compare and coupon

Research your potential purchases at sites like shopping.com, epinions.com and pricescan.com to read buyer feedback before you buy. Then go to comparison-shopping sites like NexTag.com to find the best deal. Finally, don't forget sites like CoolSavings.com and CouponCraze.com where you can find e-coupons that can save you big bucks.

Become a seasonal shopper

Get to know major sale seasons. Clothing stores usually cut prices at the end of seasons to make room for new fashions. Retailers often hold huge clearance sales in January and February to move out their existing inventory and make room for new merchandise.

A night at the movies

Movies are expensive these days. Look for cheap theaters that show older movies, or theaters with student discounts. If you can wait a few months, watch movies on pay-per-view and split the cost among a group of friends. "Understand how you use entertainment and spend wisely," says Tonya Hinch, author of I Left Home With $50 and Came Back With Nothing. What Happened? "If you are never home, then don't waste your money on all the premium cable TV channels. Order DVDs through the mail from companies like Netflix. Having all the premium channels, going to the theater and renting movies will suck up your cash."

Don't choke on restaurant bills

If your social life includes meals out, try breakfast or lunch—when you aren't as tempted to get appetizers and dessert—instead of dinner and cut your bill in half. If you must go to dinner, order appetizers instead of a full meal and enjoy the company.

Chatting it up

Competition among phone companies can help you save. You could get a cell phone that includes nationwide long distance for $35-$45 a month. Or shop for a family plan with extra lines as low as $10 a month and split the savings among friends. If you need a home phone for Internet access, forego the mobile and use a phone card for long distance. You can find rates as low as three cents a minute at discount retailers.

Calculate your college savings, college cost and education loans with our calculators.

Subscribe to save

Are you hooked on Sports Illustrated? There's no need to go without your favorite magazines— just don't buy them off the newsstand, says Hinch. "Ask your grandma to buy you a subscription instead of a plaid shirt or buy one yourself," she says. "You can save up to 80 percent and you'll get it on time." You can also see if an online version is available for free.

Textbook prices don't have to break your budget. You can buy used books at sites like VarsityBooks.com, use the library copy or invent a textbook timeshare plan. "Consider pairing up with a classmate to share books," says Kelly Tanabe, author of 1001 Ways to Pay for College. "You can cut your costs in half."

Slash computer costs

You can also save big on computers by taking advantage of student discounts direct from the manufacturer. Or you can use the computer lab at your school for free.

Careful with your credit

"Don't carry a credit card balance," advises Weston. "That will give you the discipline to live within your means without using credit cards to extend it. If you do that one thing you are on the road to being financially independent."

The economy may be in a funk, but it would appear career expectations are still flying high. According to a study of college students at the Ernst and Young
International Intern Leadership Conference in Orlando, Florida, in August 2002, 59 percent of these young leaders expect to be millionaires within their lifetime. What's more, five percent of them expect to hit the million-dollar mark while in their 20s.

Perhaps they haven't read about the 11 percent decline from 2001 to 2002 in US households with more than $1 million. Internationally, the picture is a bit brighter, as the number of people with more than $1 million to invest rose 2.1 percent to 7.3 million. The largest
increases were in Asia and the Middle East, with while North America and Latin America had slight drops.

However, there are some consistent patterns among those people who plan to earn a million dollars, and these five strategies may be worth emulating.

Avoid The Earn-to-Spend Mentality

Michael LeBoeuf, author of The Millionaire in You points out that to increase wealth, it's essential to emulate millionaires who view money as something to save and invest, rather than income to spend. Many wealthy people live quite simply, he points out, choosing less pretentious homes than they could theoretically afford and opting for financial independence over material showmanship.

Focus

LeBoeuf also counsels resisting the impulse to be scattered in your efforts and interests. "Winners focus; losers spray," he says. And goals that are clearly written down are easier to keep in focus.

Calculate your college savings, college cost and education loans with our calculators.

Do Whatever Is Necessary to Meet Your Goal

People who earn their millions are able not only to focus, but to persevere in the pursuit of their goals. One single mom entrepreneur, Melissa Clark-Reynolds, started her first business, a health and safety consultancy, when she had a young son. En route to her goal
of being a millionaire by age 35, Clarke-Reynolds and her son ate lots of pizza, did homework late at night and often slept at the office. She is now a chief executive mentor for Empower New Zealand, a global business consulting firm headquartered in London.

Take Calculated Risks

Perhaps it goes without saying, but you have to take strategic risks to earn and grow money. And a little rebelliousness seems to help too. One interesting study found a majority of male millionaire entrepreneurs had been in trouble with school authorities or
the police during their adolescence.

Be Generous

And why doesn't it surprise us that millionaires are often very generous? Sometimes it's for the tax breaks, obviously, but often it's not. Among the most generous of millionaires are those from North America, who are, according to a Merrill Lynch Cap-Gemini report, two to five times more likely to give to causes they value than their European counterparts.

These five millionaire habits are a pretty good prescription for living happily, whether or not the money follows. But LeBoeuf insists it's not so unusual to be a millionaire, noting
that one in 14 households has a net worth of $1 million.

And are the folks in those households happy? Yes, says professor Andrew Oswald of the University of Warwick, UK. After studying more than 9,000 people over eight years, Oswald concluded that people who come into money are happier. The happiest among
them, he further says, seem to be "highly educated, well-paid women who have jobs."

So how much money does the professor say it takes to be happy? "About $1 million, give or take a little."

This article originally appeared on Monster.com.

Starting college is your time to move away from home, but the location of your dream school may have unexpected costs.

Not all campus locations are created equally. How far your dollar will stretch could depend on the cost of living at your college’s location. For example, the cost-of-living calculator on Salary.com shows that living in San Francisco, costs 93.3 percent more than living in Cedar Falls, Iowa, home to the University of Northern Iowa. That impacts everything from the price of printer paper to how expensive pizza is. An online cost-of-living calculator is a useful tool to help you compare how much different college locations will set you back.

Cost of living is especially important to consider if you plan to live off campus during college. Rentnet.com reports that the average price for a one-bedroom apartment in New York City is $2,788, while the average price for a one-bedroom apartment in Tampa is $623. That difference in rent could pay for your textbooks (and then some).

Many colleges only have enough housing to accommodate a portion of their students. Research the housing policies of schools you are interested in so that you're not surprised by the cost of having to rent an apartment for yuor second year. San Francisco State University (SFSU), for example, has limited on-campus housing options that are reserved on a first-come, first-served basis. Only SFSU freshmen under the age of 20 are guaranteed a dorm room. If you don’t meet those criteria, you may be on your own.

Another cost to keep in mind while evaluating college locations is sales tax. If you attend Lewis and Clark College in Portland, Oregon, where there is no state or city sales tax, you’ll never have to pay more than the sticker price. Students at the University of Chicago, however, need to pony up an extra 9 percent to cover the tax on their purchases. Nine percent may not seem like a big number, but if you spend $750 on textbooks over the course of a year in Portland, add on another $67.50 to get those same items in Chicago. Price tags don’t always show how much you’ll end up paying.

The cost of being a student is not all buying printer paper and paying rent. Between exams and term papers, you’ll probably squeeze in some fun. Take a look at how much different entertainment options will cost. Are you a movie buff? A night out watching movies and eating pizza will cost over two dollars more in Los Angeles than the same ticket in Winston-Salem, North Carolina. Into tennis? New tennis balls and an orange juice after the match will set you back $7 in Boston but only $5 in Miami.

Calculate your college savings, college cost and education loans with our calculators.

In general, living expenses tend to be highest in California and in the Northeast. Costs of living in the South or the Midwest are usually lower. Conventional wisdom implies that cities are more expensive places to live than small towns or the country. While this often holds true, many medium- and small-sized cities have their share of bargains. According to Bankrate.com, if you attend the University of Connecticut in Stamford, Connecticut, you’ll pay an average of $1.44 for a loaf of bread. In Austin, where the University of Texas is located, a loaf of bread costs an average of $.74. Austin may be five times the size of Stamford, but living there can cost you significantly less. Don’t assume that prices will go up along with a city’s population.

Before you pack up and move, tally up the prices of things like groceries, entertainment, laundry, public transportation and sales tax of your new home. There’s more to your college expenses than tuition alone. If you know where you want to go to school, research the cost of living there as well.

Instead of putting your money into cold storage, put it to work for you by investing. Whether you open a savings account, invest directly in the stock market or make use of some other investment option, your "extra" money can make more money for you.

Just how lucrative are your investments? That depends on the plan you choose as well as the amount of risk you're willing to take. But whether you're a risk-taker or a play-it-safer, there are options to help your nest egg grow.

Savings Accounts

Savings accounts are the safest of investments. Usually insured, your money is available to you when you need it. Your bank pays you a fee— known as interest—for allowing them to use it.

• The upside? You can withdraw your money at any time with no penalty. Also, there's practically no risk involved.
  
• The downside? Interest rates are typically very low—around 1.5 percent—and sometimes barely keep up with the rate of inflation.
  

Certificates of Deposit

Want to get a slightly higher interest rate in exchange for investing your money for a specified amount of time? These accounts are called Certificates of Deposit (CDs) and range in length up to several years.

• The upside? CDs are very safe investments because they offer low risk. The longer you agree to keep your money in the bank or financial institution, the higher your interest rate.
  
• The downside? There's usually a $500 minimum to open a CD, and there are costly penalties for withdrawing your money early—so don't invest money you may need access to. Also, since your interest rate is locked in, you won't earn more if interest rates later go up.
  

Money Market Fund

When you open a money market fund, your bank spreads the money you invest over a number of CDs and other short-term investments. You retain access to your money, and your investment is relatively secure with a fixed income rate.

• The upside? These are generally safe investments, and you can redeem your shares of a money market fund at any time with no penalty.
  
• The downside? You get about the same (usually low) return as you would on a CD—and sometimes lower than a CD. You may also be required to keep a minimum balance in your account, and may be charged fees if you slip below that minimum.
  

Stocks

Investing in stocks allows you to own part of a business. One share of stock represents a share of ownership in a company. Companies make shares available when they want to raise money to fund further growth and development. These shares are often publicly traded on a stock exchange and can vary widely in price from day to day.

Unlike more secure investments, investing in stocks gives you no guarantee of a return. Since your profit is linked to the profitability of the company and the whims of the stock market, you could lose money if the value of the stock slips below what you originally paid.

To buy stocks, you most likely will work with a broker. Many different services—such as research and advice—are offered by pricey full-serve brokerages, or you can opt for more affordable discount brokerages. And some discount brokers will offer you the option to trade online.

• The upside? While the average annual percentage return on stock investments has been lower than in previous years, it is still higher than other types of investments.
  
• The downside? There's quite a bit of risk involved with buying stocks, because just as easily as your stock's value can increase it can decrease, meaning you lose money.
  

Mutual Funds

A mutual fund allows you to pool your money with other investors to buy stock in a number of companies. The mutual fund manager, who oversees investments in the fund, selects the companies based on the investment philosophy of the fund.

• The upside? Because your money is distributed among various stocks, the risk is lower—even if one stock bombs, you're still OK if the other stocks increase in value.
  
• The downside? Many mutual funds require a minimum investment. You may also pay a fee, called a "load," to have your fund managed by someone else. In addition, there may be a specified "holding time" during which you won't be able to sell the stocks in your fund. As a result, mutual funds are a great deal less "liquid" than other investment options—meaning you won't be able to convert your investments back to cash easily if you need the money.
  

Bonds

Bonds are like IOUs that large organizations make out to investors. With a bond, your investment is really a long-term loan. Bonds are referred to as "fixed-income" securities because the amount of income the bond earns is set when you buy it. When you purchase a bond, you receive a document recording the amount lent, the interest rate and how often interest is paid.

There are four kinds of bonds: federal government, corporate, state and local government and foreign government (these are rare for individual investors).

• The upside? The risk can be minimal, depending upon the source of the bond. For example, U.S. savings bonds are insured and guarantee a certain rate of return.
  
• The downside? Bonds don't offer a very high return on your investment, and they typically require an investment of $1,000 or more. And in some cases, the bond is not insured, which means you may have no guarantee that you will make money on your investment. If you purchase a bond from a company that later goes bankrupt, you'll lose your investment—so you need to investigate carefully before investing in corporate bonds.
  

Learn about your options before investing, and decide how much risk you're willing to take. Then make a choice about your financial future and put your savings to work!

When Colette was a sophomore at Oberlin College, she received her first credit card.

"I was very excited," she says. "Unlike a lot of my friends, I wasn’t being supported
by my parents. I also had a job, so I figured I was entitled to use my credit."

Colette did use her credit card – a lot. She bought spring break vacations to Jamaica, dinners for
friends, CDs and books. She was soon offered another credit card, which she also accepted. "I never
missed a payment, but I never paid anything off either," she says. "I just kept getting more
offers and moved my credit around from card to card."

By the time she graduated from college, Colette owned four credit cards and had racked up nearly
$20,000 in debt. Because her debt was so high compared to her income, her interest rates had also climbed –
from an initial 9.9 percent to 27 percent.

After college, Colette and her new husband, who was attending law school, used their credit cards to
bridge the gap between loans and expenses. "We owed nearly $50,000 in credit card debt
alone," she says. "And we panicked when we realized that we weren’t going to be able to make
our minimum payments anymore."

Getting Into Debt

A recent study conducted by Nellie Mae, the nation’s leading student finance firm, revealed that the
average undergraduate carries a credit card balance of $2,169. According to the study, many students use
their cards without anticipating how the bills will be paid off. It also showed that many students use their
cards for tuition and books, which can be more effectively paid for with a student loan.

"Acquiring a student loan takes planning," says Nina Prikazsky, vice president of
operations for Nellie Mae. "Student loans are much more flexible for interest rates and payment than
credit cards. [But] some students just never look ahead."

One cause of credit card debt is college students’ difficulty in adjusting to their newfound
financial independence. "They are used to their parents paying for everything," says Seth
Charnes, a Chicago-area CPA. "There are students walking around with $300 cell phone bills who
don’t have jobs, and they don’t understand why that is a problem."

Debt and Financial Aid

Difficulties with credit cards can lead to problems paying for school. According to Prikazsky, credit
card debt can affect interest rates for privately-funded student loans. It can also affect a student’s ability to
attend the school of their choice.

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"When we do a financial analysis, there is often a certain amount of money that parents or
students are considered able to pay as part of the financial aid package," says Ronald Johnson,
director of financial aid at UCLA.

"That calculation is done based on income, not on how the applicants have chosen to spend their
money. If they are paying huge sums to credit card companies, they may not have the cash available for
their financial contribution. That could mean that the child won’t be able to attend the
university."

Faced with enormous credit card debt, many students choose to declare bankruptcy. However,
according to Charnes, bankruptcy has several serious effects:

• It goes on your credit rating for up to seven years, making it difficult to obtain new credit (and credit
  cards). This means you have to pay cash for everything, even airline tickets.


• You will have problems passing a credit check – for an apartment, rental car or even a job


• It’s a turn-off to potential employers. "Many employers are not interested in hiring someone
  who cannot handle [their] own money," Charnes says.

Also, declaring bankruptcy does not wipe out student loans. Student loans are generally only
discharged if the date of bankruptcy is more than 10 years after studies have ceased.

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Getting Out of Debt

Even if you are drowning in debt, there are some ways out:

• Contact your credit card company and try to work out a payment plan. "They are not out to get
  you," Charnes says. "They would much rather lower your interest or write if off altogether than
  not get any money from you at all."


• Get help from a consumer credit counseling center. They can help you work out different payment
  options for your credit cards. But avoid credit groups that advertise on television. "They tend to
  charge money for their services, where the consumer groups don’t," says Nellie Mae’s Prikazsky.
  


• Set up a budget and stick to it. Be realistic about your expenses and your financial needs, then draw up
  a detailed monthly plan.

Colette and her husband have managed to reduce their credit card debt. They went to a consumer credit
counseling office, where they worked out a budget and arranged to have their interest payments lowered
over the next two years.

"Things are looking up," Colette says. "We are down to about $40,000."

Research Your Options

Before you accept credit cards in the future, you should research which companies offer the best
values. Web sites such as CardWeb offer information on fees and interest rates that
you can use to choose the best card for you.

Find your nearest consumer credit counseling center, along with useful information about credit
records and debt, through the National Foundation for Credit Counseling, a non-profit
organization made up of 1,300 financial service centers. You can reach them by phone at (800) 388-2227.

Get the 12 tips to winning a scholarship from expert, Mark Kantrowitz.

With the right tools and management, credit card debt doesn’t have to follow you forever. Check out
your options, read the fine print and know that help is available.

Looking for a credit card? If so, you'll need to shop around. Do some research to compare costs, features and drawbacks before settling on a single card.

Annual fee: Some cards charge an annual fee - anywhere between $15 and $50 - while others may not. Many card issuers will waive the annual fee in the first year, then charge you a fee in a year or two. Banks will sometimes waive annual fees if you've charged a certain amount during the year, or if you just ask.

APR/interest rate: The APR or interest rate is the percentage of interest you're charged on the balance you carry on the card and cash advances (usually two different rates). It can either be fixed or variable (also called floating). A fixed rate APR is usually higher, but you'll know what to expect for the year. A variable rate is typically lower, based on an interest rate that swings up and down.

Introductory rate: Some cards offer a super-low introductory rate that will later switch to a higher fixed or variable rate. Make sure you know how long the introductory rate lasts - usually three to nine months - and what the new rate will be. The introductory rate is often terminated if you send a late payment.

Finance charge: This is the actual dollar amount you'll pay when you carry a balance. It includes interest costs and any other transaction fees. It's helpful to know how this number is calculated. The average daily balance method is the most common. It adds the amount of debt on your account for each day during the billing period and averages it.

Grace period: Most credit cards offer a 25-day time period for you to pay off your total balance without paying a finance charge. The grace period runs from the date printed on the bill, not the date you receive it or the date you make a purchase.

Other fees: These include fees for paying late ($20 to $25), charging over your limit ($20 to $25) and getting a cash advance (around $2 or 2 percent of the cash). Make sure you read the cardholder agreement, which discloses these charges.

Other Rewards and Benefits

In competition for your business, many cards now offer added benefits, like rebates or discounts. Other cards earn you frequent flyer airline miles for each dollar charged. With these cards, find out how many dollars equal a free ticket. Also, make sure the airline flies to places you'd go.

Special interest cards give you discounts or points toward purchases on particular items, such as golf or ski equipment. Many cards offer extended warranties on purchases.

Discounts vs. Rebates

Discounts and rebates are both appealing, but discounts may be better in the end. Rebate cards refund you a percentage of your purchases, either by check or credit to your account. Discount cards reduce the price of certain purchases. The bonus with a discount card is that you keep your money now, rather than get it back later. Also, rebates sometimes kick in only after you've charged a certain amount during the year.

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Payback Time

If you plan to pay your credit card bill in full each month, you should look for a card with no annual fee and a generous grace period. If you think you'll carry a balance, then the important thing is a card with a low interest rate. Before you go ahead and carry a balance, investigate whether the purchases you have planned (like books or a computer) could be made with funds from a student loan.

Online Applications Dos and Don'ts

Many cards now offer online applications. It seems convenient, but there are some things you should do to avoid being conned. Never apply if there is no specific bank mentioned. It may be a ploy to gather your personal information for other purposes. If a bank is named, check for an address and phone number. If none is listed, move on. Also, never send personal data through an unsecured Web site. And always look for hidden costs, such as exorbitant setup fees, monthly service charges and unreasonably high interest rates.

As a young, educated consumer, credit card companies will start hounding you if they haven't yet. Be a smart consumer and shop before you buy.

You could use a few extra dollars but you'd like to avoid punching a clock or calling home. Maybe one of these unique tactics can be a source of income for you.

Surveys and Experiments. Students and professors doing research in the psychology or behavioral studies department sometimes need participants for surveys and experiments and are willing to pay. Amounts vary widely by school, but generally you can expect to collect between $5 and $30. Check with your school's psychology or behavioral studies departments for opportunities. Friends in those majors may also know about openings not publicized.

Focus Groups. Find local market research companies and ask to register as a possible focus group participant. You could make a few dollars in exchange for offering your opinion about a new ad campaign or sampling food.

Play to Your Strengths. Offer to edit papers or provide tutoring for a course you already had success in. If you're a tech whiz, offer to fix buggy computers. Musically inclined? Set up shop on a busy street corner (check local laws first) or in a coffee shop and pass the hat.

Reffing. Check campus intramural sports leagues or local youth leagues. A few games won't take much time and may have the added benefit of a good workout.

Plasma Donation. Consult your physician first; if you're cleared you might be paid $15 to $30 (or more) for each donation. Generally, you are allowed to donate up to two or three times per week. BloodBanker.com lists places in the U.S. where you can donate.

Sell Off Some Stuff. The Web is a great place to sell things. Craigslist, eBay and Amazon are just a few of the places where you can sell personal items. Do you have consumer goods that you don't use, need or want? Sell them online and get cash back. Sports equipment, CDs, stereos, computers, video games, appliances, furniture, clothing -- there's a market online for all of it. Also check consignment or secondhand shops, they may be willing to buy your used stuff.