These Financial Ages

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Exercising Your Physical and Financial Well-Being

Having a happy and healthy life means you need to take care of and be well-rounded in all aspects of your life. You should be exercising not only your mind and your financial senses , but also your body. Apart from the health benefits of getting regular exercise a few times a week, regular exercise can also save you in the financial department, and as college students, anything that saves a little goes a long way. Here are some of the benefits of exercise on your wallet: An Exercise a Day Keeps the Doctor Away Exercising on a regular basis along with a healthy and balanced diet will obviously keep you in great shape, but did you know it can help you save you a boatload of cash as well? According to the Journal of the American Heart Association, walking for just thirty minutes 5 days a week is enough to accrue savings of almost $2,500 a year in reduced medical costs. The savings included, as reported in the New York Times, about "$400 on prescription medicines and far fewer

Savings and Checking Accounts in College

Some of the most fundamentals aspects of personal finance are savings and checking accounts at the local bank; however, a lot of college students don't really know how to utilize them properly or even how different rates can affect their money. Knowing these differences can save you a whole lot in the long term. Checking vs. Savings These two types of accounts are the most common in local banks. A checking account is used to pay off everyday purchases and is typically linked to a credit card while a savings account is used to save and grow money over time. Savings account will generally have higher interest rates than checking accounts and savings are one of the most liquid assets you can have, meaning it is very easy to convert money in the savings account to other forms of money such as cash and bonds. Different Interest Rates Different banks offer different interest rates for savings and checking accounts, and being aware of it can help you optimize your finances. The

Frauds and Scams in the World

As much as we would like to think that people are good people and have good intentions towards other people, there are many frauds and scams in the world that take advantage of naivety to loot and steal. While we shouldn't go around fearing everyone and everything, just having simple knowledge and common sense will make you much more prepared to identify and avoid these schemes. Here are some of the worst ones : Phishing Scams This scam usually involves a scammer sending a message (usually through email) pretending to be an authority in order to dupe victims into giving over sensitive information like passwords, credit card numbers, and even money. An example of this scam would be getting an email claiming to be Google and that you need to click on a link to update your account otherwise it will close. Then you would be directed to a bogus link that seems legit, and the scammers gather your information when you put in your information. Always check the url of the link, if it

Uploading Receipts and Making Money

When you go out for shopping, usually the receipts you get at the end of your purchases go straight to the garbage, never to be seen again. Even if you keep them to return an item to the store they're more of a hassle to keep in your purse than a useful item. What if I told you that those pesky receipts could actually earn you money just by taking a picture of them? With these two free and simple apps, you'll put those old receipts to work in no time. Receipt Hog One of my personal favorite apps for receipt earning, Receipt Hog gives you points back just by uploading a picture of any shopping receipt you have and answering between one to three simple easy questions. The points you earn can be used to cash out on Paypal gift cards, Amazon gift cards, and even magazine subscriptions. Each receipt you upload also gives you an entry in their monthly sweepstakes where you can win a lot of cool prizes. Ibotta Getting cash back on purchases at the store is a great way to

4 Habits to Form for Long-Term Saving

As college students, we are constantly worried about our studies from homework to finals exams and our social life, hanging out with friends and going to parties. Some of us even have part-time jobs and have a small stream of income to keep ourselves afloat in college. However, amidst this whirlwind, it may be hard to find time to check your spending habits or even think how you are going to set yourself up for financial success once you are out of college. Here are some pointers to help get you started on the road to financial success: 1. Reduce Debt A big portion of your financial success will depend on getting your total debt as low as possible, whether it be student loans or credit card debt. Not paying on time will cause you to incur interest charges which will eventually eat up your income if not carefully managed. In particular, credit card interest rates are set exorbitantly high for the companies to make a profit, so missing even one payment can start affecting yo

Not Having a Credit Card Isn’t Such a Bad Idea

It seems like the credit card is a ubiquitous symbol of freedom to teenagers, allowing them to spend their (or their parents’) money on whatever they want, from late night snacks at the local mini mart to a night out at the local bar. With it comes great responsibility, and many college students aren't ready for the often unseen pressures of maintaining a credit card. Here are some of the reasons to delay getting a credit card in college: Overspending Credit cards can magnify bad spending habits and put students in significant financial risk. According to the 2008 paper Monopoly money: The effect of payment coupling and form on spending behavior , researchers determined that using credit cards instead of cash to pay for purchases encourages people to overspend by mitigating the "pain of paying" and increasing the psychological gap between the consumer and their money. Although students may not realize it at first, the extra charges on their card will add up and o