Archive for the 'Financial Advice' Category
Getting a regular job in college is great, but not every student wants to work at their cafeteria. In fact, I’d be willing to bet a sizeable amount of cash that most students would rather not have to work at a cafeteria, or a library, or have any normal college job. Kramer from Seinfeld is always falling into money and somehow staying out of the poor house. This got me thinking about creative ways Kramer would use to get cash in college. He’s made a coffee table book about coffee tables that is actually a coffee table, invented a perfume that smells like the beach, and invented a male brassiere called a “bro,” so I think he would find a few of these schemes to be quite intriguing.
Charging People to Hold a Place in Line – With today’s demand for movies, books, games, and products, releases seem to be getting more exciting with each day. Kramer would probably love the idea of charging a fee to hold someone’s place in line. It would be a quick way to earn him some extra cash and he’d only have to stand in line. I bet he would have thought of it before those geniuses at iWait.
Start a Web Site About Anything – Kramer would definitely try his hand at making money on the Internet. Perhaps a site about a popular book could earn him significant amounts of cash and fame among the fanatics? Just ask Emerson Spartz of Mugglenet (a Harry Potter fan site) about his little web site adventure and how lucrative it has been for him. Also, social networking sites are to be all the rage, so Kramer might invent a new one as a get rich quick scheme. It’s pretty crazy how much money the founders of Facebook make. Facebook was started as site for a group of friends at Harvard, and now it makes millions. Kramer wouldn’t forget about the wonderful world of AdSense. He’d probably have several blogs with posts about nothing covered in AdSense ads.
Blood Plasma Donation – Kramer would think that donating some blood plasma is a fantastic way to get some quick cash. Many college students would agree with him.
Selling Body Parts as Advertising Space – It would seem sensible to Kramer, that if there is all this empty space on your body, why not sell it as advertising space? It would be an easy way to get some money if you were in a pinch. All you need is an attractive forehead.
Scalping Tickets – Kramer would scalp tickets in a heartbeat. It’s simple economics, buy tickets at a lower price, and sell them for profit. If there was a high demand game to be held on campus, then Kramer could really make some cash.
eBaying – Everyone knows Kramer would look through his belongings and find any old items and sell them on eBay. My friend makes handbags and sells them on eBay for a significant profit. Kramer would probably become a Power Seller in a few short months by selling the “bro.”
Sperm Donations – Kramer may not have been able to win the contest, but he would definitely try to make some cash by donating his sperm.
BicyTaxi - Just the type of invention Kramer would love. He would probably drive people around college campuses on a bike for a small fee. Advertising on Facebook is another great way Kramer would push the business.
Street Musician – If he was really strapped for cash, he might just sit on the sidewalk and play music for money. Or, he would offer to teach people how to play instruments for a price.
Beer Contact – Kramer has done illegal things in the past to get some extra jingle, so buying beer for underage college students and taking a carrier’s fee would be his idea of a brilliant business plan.
Selling Pirated DVDs and CDs – Although bootleg movies can be ruined when the ending is taped over Elaine’s dancing, Kramer would still be interested in selling DVDs and CDs to his fellow students. Making use of BitTorrent clients, he could probably make some easy cash.
Homework and Paper Writer – You may not want Kramer to do your homework for you, but I’m sure he’d offer the service for a small fee. If he had already taken the class, that might be an added bonus. He’d have to be careful though to make sure there was no plagiarism when the student turns the paper in.
Online Poker Player – Texas Hold Em is a big deal nowadays. More and more students are playing online and with their friends to make some serious cash. No doubt Kramer, being a compulsive gambler, would love to play poker online. Who knows, Kramer would probably end up being the next Chris Moneymaker (although I’d hope that Kramer would have more skill than him).
Write a Book That is a Rip-Off of Harry Potter and Lord of the Rings – Kramer already made a coffee table book, so a novel is not out of the question. I know of one college-age person who made a ton of money writing a book that was a complete knock-off of Lord of the Rings. He even got a movie deal. Kramer would probably write a book about wizards in America who ride dragons and have to destroy a bracelet.
Lawsuits – Kramer was always involved in certain lawsuits. He might think it was a good idea to appear in a movie voluntarily, and then file suit against the moviemaker after the movie hit it big. That’s one easy way to get a lot of cash, or at least some publicity.
Selling Textbooks – Textbooks are big business on college campuses, and Kramer would certainly sell his textbooks to the highest bidder. He’d probably have many listings on Facebook at any given time. Once again, eBay could be used for helping his business.
Autograph Dealing – If Cosmo Kramer was at a large school with well recognizable athletes, he’d probably chase them down and get autographs. He might also just observe them eating in the dining halls, like Joe DiMaggio eating in the donut shop. After he obtained the autographs, he’d go back to good ole’ eBay and sell them for a profit. It would be a decent way to get some quick cash, although the athletes might get annoyed after a while, and I wouldn’t want to make any football players mad.
Selling Video Game Accounts – What’s better than playing a video game and making money from it? Kramer would love to play World of Warcraft and sell his account for profit. Many college students, including Kramer, would waste their lives away playing WoW, so why not make it a profitable experience?
Lottery and Sports Betting – Kramer, being the compulsive gambler would love betting on sports through the multitude of web sites associated with bookies. Of course, he probably would have bet on Ohio State to win the BCS Championship game, and we all know how that turned out. Winning the lottery is always nice, so Kramer might try his luck at the local state lottery.
Somehow, Kramer always seems to have enough money to live, so if he was in college, I’m sure he’d be all right. Alas, for those of us who hate having regular jobs, maybe taking out a page from Kramer’s book to get some extra money is a good idea. Just don’t expect to have a stable financial situation, and just because Kramer can get away with some illegal activity, doesn’t mean you could, so you might not want to risk it. Only Kramer could truly survive using these schemes, but if you’re short a few bucks, it could help.
July 06 2007 | Financial Advice | 1 Comment »
For me, college is not only a time of studying, meeting new people, and having new life experiences; it is also a time for being broke, spending outrageous amounts of money on tuition and books, and sometimes being forced to live paycheck to paycheck. I am always looking for new ways to save cash, so I’ve come up with 7 surefire ways to make sure you have some extra jingle in your pocket.
1. Buy used textbooks. If you are silly enough to go to the university bookstore and buy brand new textbooks, I feel bad for you. Too many freshman listen to what their college tells them and think that there’s only one or two places on campus to get the books they need. This couldn’t be further from the truth. Get used books however you can. Look at eBay and Amazon.com (the used section). Research beforehand what books you’ll need for the class before you get the syllabus. Then you can order them early and get them in time for the first assignments. Also, if you have any friends who took the class last semester or quarter, offer to buy their book. Firstly, they’ll get more money; because the bookstores are always incredibly cheap when it comes to buying back books, and you’ll save money because bookstores sell used books for obscene prices. Depending on how hard you work at it, you can save $100-$200 on used books alone.
2. Eat cheaply. This is easier said than done, I know. However, I never cease to be amazed at the amount of college kids ordering pizza after pizza every night, and always going out to bars and just wasting tons of money. Yes, I know cafeteria food at college is terrible, but if you have a meal plan, use it! Eating out is just wasting money. If you can’t stand the cafeteria food, or you don’t have any sort of campus meal plan, than consider cheaper alternatives. It’s hard to cook, but I know that many Dorms on many college campuses have kitchens for students. Take advantage of this. I know it’s terrible for you, but eat Ramen Noodles if you have to. There are actually some pretty good ramen noodle recipes available. It may not be very healthy, but at least it’s significantly cheaper than going out to a restaurant.
3. Use public transportation (if you commute to school). I know commuter students who drive into school every day. I don’t even want to think about how much gas this is costing them. At my school, all students pay a mandatory $9.00 bus fee at the beginning of each quarter and can then ride the public buses for free that quarter. Even if your school doesn’t have a program like that, utilize public transportation anyway, because it’s still cheaper! Not to mention, think about the parking pass situation. How many students have to shell out a significant amount of money just to park somewhere on campus that is semi-close (meaning in the same zip code) as the building where their class is? Avoid expensive parking passes and potential tickets, and avoid burning up all your cash in gas, take a bus, ride a bike, walk, car pool, do whatever you can to change your transportation habits and I’m positive you’ll say a lot of cash.
4. Pay off credit cards in full, on time. Credit card companies charge outrageous interests on balances, and in late fees. Be smart and don’t over use that credit. The credit card companies want you to be in debt, so they will offer you huge credit lines. Don’t ever spend more than you can afford to pay off. If you are sending in or paying your statement online, be sure to do it on time, because the late fees are obscene. If you stay on top of credit card expenses, you will end up with a significant amount of extra cash each month. Unless your a mobster who can “talk” out of debts, you should pay those credit cards. However, if you’re in a pinch, there may be ways to talk down those payments.
5. Take advantage of student discounts. My school offers students a variety of discounts on movies, plays, sporting events, and more. Just for being a student, you can get certain things more cheaply. I am amazed that more people don’t take advantage of the discounts offered. The university is essentially throwing savings right at our feet, and many people don’t use it. If your college has any sorts of discounts, use them. There’s no reason not to, and it will save you money, which can be helpful in the long run.
6. Stop buying CDs and DVDs. Now, downloading copyrighted material is illegal. I’d never suggest it. However, what I will say, is that if someone were to use sites such as isohunt, demonoid, torrentspy, and more in order to obtain CDs and movies, they would probably save a significant amount of cash. Also, many college networks allow for the sharing of music on iTunes, but you cannot download the song, you can only listen. If you really wanted that new song, then you could download OurTunes or MyTunes (for Mac and PC respectively). However, that would be illegal, so I wouldn’t recommend it. The RIAA will arrest 5-year-olds, so a 20-year-old would be fantastic for them. That being said, if you did utilize those sites to get games, movies, and music, you would save money by not actually buying them, but once again, it’s illegal so don’t do it.
7. Buy less beer, or cheaper beer, and don’t buy much liquor. Why is the cash always gone? For those college students who are lushes that like to go out every weekend, and always keep that fridge stocked with beer and liquor, I have one thing to say, SLOW DOWN. I wish someone would conduct a study on how much college students spend on alcohol yearly, I bet Budweiser has done one. In any case, think about curtailing your spending on beer. Even though it’s very terrible, buy cheaper beer like Natural Light, Keystone, and Bush if you can’t live without beer on a Friday. Better yet, only buy liquor on special occasions. One of my buddies would always keep his place stocked with Goldschlager, Hypnotic, Absolut, Everclear, and a bunch of other stuff that he didn’t need. The last idea is to just spend a few weeks or weekends out of the month not drinking at all. I know this may seem like a daunting task for some, but I’m sure you can have plenty of fun without it. I’m sure that your G.P.A. and wallet will thank you. Save your money whenever you can. If you have to, split costs among friends and buy cheaper stuff. Trust me on this, you’ll have a lot of extra cash for doing other, more productive things.
So there you have it, some financial tips to make sure you have extra cash at the end of each month. If that’s not enough for you, consider 180 tips to turn your life around. The best way to save money is to not buy things (I know, a startling realization). If you don’t need it, don’t buy it. This applies to everything, CDs, movies, luxury food, and even clothes. Hopefully you take my advice, and don’t think I’m a control freak because I love saving money in every way possible.
June 22 2007 | Financial Advice | No Comments »
I received an interesting e-mail yesterday from a reader asking about what they should major in. The advice I gave was pretty simple. I suggested considering the options, and talking with an academic advisor. However, choosing a major is a big step, and one should consider financial implications when deciding what you are going to be educated in. Just be sure you don’t regret anything or miss out on classes and majors you wish you’d considered.
Do always think of future education. Too many people select majors as undergrads and then realize that they can’t actually get a job out of undergrad. When you select a major in Art History (for example, no offense to Art History majors) you should consider the fact that you may have to go to graduate school. My cousin graduated from a liberal arts college with a degree in U.S. History. He then realized that he couldn’t really be hired anywhere with that degree alone. He ended up working at Applebee’s for a while in order to finance his graduate school tuition. Had he thought ahead, he may have been more prepared to go to grad school. My girlfriend goes to Kenyon College, which is a great school, but it comes with a hefty price tag. She’s considering her options and factoring in the fact that she may have to go to grad school. As much as it would be great to be able to just get a great job out of undergrad, it’s not always the case. Financially, when you take student loans out, make sure you are thinking about where you’ll be 8 years down the road.
Do think about what interests you. Don’t simply choose a major because you think you’ll be able to get a job straight out of undergrad. While an English major may have to go to grad school to become a teacher or Law School, they at least did something they enjoyed in undergrad. College is supposed to be one of the greatest life experiences, so taking classes you hate, or being in a major just because your parents like it is not sensible at all. At first, I was really unsure about being a Business Major. It seemed like the sensible thing to do, but I found some of the general business classes to be very boring and pointless. If you like accounting, then that’s great. I personally hated it and it almost made me quit business. That being said, I stuck through the class, and now I’m taking marketing classes that fascinate me and I find very enjoyable. Always be prepared to take the good with the bad and don’t give up on any major simply because there’s one class you hate.
Do talk to people and ask questions before you dive into a major. It’s so basic, but so few people do it. Don’t just get one opinion. Ask your academic advisor about the major, the requirements, and potential job opportunities. Many schools also offer career advisors. Take advantage of the resources! If you know anyone who graduated with the degree you’re going for, don’t be afraid to ask questions. If you simply take your parents’ word for it, you’re limiting yourself. Talk to other family members. Almost everyone has an opinion (trust me, my grandfather used to attempt to plan my life out in college); so don’t hesitate to find out what it is.
Do your research, and see what the job market outlook is like. If it looks like there’s going to be a labor surplus, and the average salary for someone with your degree or job is going down, you might want to reconsider. Once again, think about those college loans you may have. If you have taken out $100,000 to finance your education, you better get a job that can help you pay off the loan and live comfortably. There’s just no substitute for solid research.
Don’t be afraid to change your mind. Changing majors too many times is a bad thing, yes. However, if you change your major once (or even twice), that’s perfectly fine. In fact, many college students today end up changing their major at least once. If you hate everything about what you’re doing, then try something else. Remember, while making money and getting a good job is the ultimate goal of college, it’s also a time to learn, grow, and have fun. You can’t have fun if you’re a Chemistry major who hates science. If you take classes you’re interested in, your grades will improve, and you’ll be a much happier person.
Don’t just major in anything. This is so common among college students today, that it’s almost scary. Someone will go into college and take a bunch of random classes. They then will get bored of school, and just tell their advisor, “I’ve taken these classes, what kind of degree can I get?” College is supposed to be enjoyable, and if you are just taking classes for no reason and just trying to get out of college, you aren’t getting the full benefit. Remember my earlier post about how much classes cost you money. You are certainly wasting cash if you are just taking random classes in a random major. I am also willing to bet that you’ll end up getting a job you dislike, and then you’ll be one unhappy camper.
Bottom line: do your research, ask questions, look at what interests you, consider finances and the future, and have fun. If you do all that, I’m sure you’ll have a major you can be proud of. Of course you don’t have to just take my word for it, ask questions! Just make sure you don’t end up an angry undergrad.
June 18 2007 | College Advice and Financial Advice and Majors | No Comments »
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