Tutor Fi Blog » Money and Business Advice

Kindles and other eReaders: Are They Worth the Expense?

Meaghan Montrose — Tue, 09 Feb 2010 02:58:12 +0000

Devices for displaying e-books are the latest craze in technology. Some of the popular options include the Amazon Kindle, Sony PRS-700, and Barnes & Noble Nook. These devices allow you to read a book electronically. The sizes of the devices vary but are generally slightly larger in length and width than a traditional paperback, but much less in thickness.

There are many obvious advantages to an eReader such as the portability and decrease in volume. (How great to be a college student with all of your textbooks available on one small device!) However, even with this in mind, is the cost of the devices really worth it?

The SavingAdvice.com blog has posted an article about the cost-effectiveness of these devices. The author of Is an eReader a Wise Purchase? weighs the pros and cons of an eReader. Check out the post for the answer!

Saving Money for College in a 529 College Savings Plan

Meaghan Montrose — Wed, 27 Jan 2010 02:37:39 +0000

College – most parents want their child to go there, but how do they afford it? The costs of college, such as online colleges is getting higher and higher each year. In order to save enough money parents need to start considering a savings plan as soon as the child’s first birthday (or maybe even earlier!). So, what’s a parent (or Aunt or Uncle or Grandparent or Godparent) to do?

One answer, the Smarter Wallet recommends using a 529 college savings plan. According to the post, one of the main benefits to the plan is the flexibility of the investment. Check out the entire post on 529 College Savings Plan As A Child’s Gift.

The Best Credit Card Choices for College Students

Meaghan Montrose — Wed, 30 Dec 2009 23:57:00 +0000

Debt often starts during the college years. It is during this time a student is faced with many additional expenses as well as transitioning from their dependence on parents. These costs include tuition, food, clothing, books, car, housing, and much more. The problem is most students don’t have this money readily available, so they turn to loans and credit…and then comes the debt!

Having some debt is not all bad, it is natural. Many young adults (and even old adults) are forced into some form of debt in life. (How many people can buy a house without a mortgage?) The problem is when the debt spirals out of control due to misuse of credit cards and astronomical fees.

The Digerati Life has done some research on the subject of credit cards and put together a post on the Best Student Credit Cards for College Students. Though students still need to exercise caution when using a credit cards, the article gives a few good options for cards. One of the credit cards described actual offers points for earning a high GPA…that is smart all around!

Check out the post for all the details.

Teaching Your Kids About Money Management

Meaghan Montrose — Fri, 11 Dec 2009 01:36:21 +0000

We live in a materialistic world today. More and more ads are geared towards children. These commercials try to convince kids that they NEED to have a particular toy, piece of clothing, video game, etc… As a parent you have probably had to endure the nagging, begging, and pleading of your child when they just HAVE to get something or else they will suffer from being uncool or behind the times.

Buying your children gifts or letting them spend money on luxuries isn’t all bad, but first they need to learn the value of a dollar. This is a lesson that fewer and fewer parents seem to be providing to their children. The truth of the matter is, in these times we should be giving our children even more lessons on money management to deal with the poor economy, tight job market, and the hundreds of ways to get into debt young (credit cards, zero financing and free interest offers, student loans).

In my blog searches I found a great article on the MoneyNing.com blog. The article describes a way to teach the value of money by helping your child Visualize Money Management with the Four Jars Approach. The basic idea is to have your child set up four jars (or more or less if appropriate) to learn the idea of budgeting and allocating money they earn. Check out the post for all the details.

Job-Hunting and Resume Tips for Success

Meaghan Montrose — Sat, 31 Oct 2009 18:19:16 +0000

You are coming to the end of your education and now you need to find something to do with it. You need a job! With the poor economy and the increased number of people getting an advanced education, finding a job can be one of the most challenging obstacles you will face. Because of this, it is important that your resume best reflects your accomplishments and abilities…and you want to get this resume to as many potential employers as possible.

In my blog searches I have come across a few helpful posts that can assist in the job hunt. Check out these posts for some great advice on how to get a job!

The Get Rich Slowly blog has a guest post by Kerry of SquawkFox called 5 Ways To Rescue Your Rotten Resume. The post provides tips on how to reword and rearrange your resume to give the best impression.

The College Finance 101 blog has an article on how to Post Your Resume on 89 Job Sites Instantly. Hanna, of College Finance 101, explains the benefits of a service called Resume Rabbit that can submit your resume to several sites such as Monster.com and CareerBuilder.com for millions of employers to see.

The Get Rich Slowly blog has another helpful post about Job-Hunting Skills. This article focuses on the importance of networking and getting yourself (and your skills) known.

If you still aren’t having luck in the job market or if you are motivated to become your own boss, here are a couple of posts to help you start your own business.

SavingAdvice.com has a post on Starting a Business Resources.

The Young Entrepreneur blog has a post of 38 Free Business E-Books to Help You Succeed.

The Frugal Dad blog posts The Entrepreneur Fund: One Year of Projected Expenses.

The Work at Home Based Business blog shares the 5 Places to Find the Best Home Business Information.

9 Ways to Save Money on Your Child’s Sports and Music Lessons

Meaghan Montrose — Tue, 29 Sep 2009 21:46:44 +0000

As a family is forced to tighten their budget and become more frugal, one of the first things to go are sports and music lessons for the children. But, there is a better way! Sports and music provide enrichment into the lives of our children and are an important part of creating well-rounded individuals. Instead of tossing these lessons to the sidelines, look for ways to make them more cost-effective.

The SavingAdvice.com blog has created a list of 9 ways to Cut the Cost of Lessons and Coaching. These strategies will allow you to keep your child engaged in an activity that is rewarding and fun without causing a strain on the family’s finances.

One suggestion is to look into group lessons instead of private lessons. Your child will learn the same skills in a small group setting but for a fraction of the cost of an individual lesson. Check out the post for more ways to keep the lessons in your budget!

New PayPal Student Account for Teens

Meaghan Montrose — Tue, 15 Sep 2009 00:13:10 +0000

PayPal has recently established a new account specifically designed to help teens manage their money. The account gives teens a secure and easy way to shop online and it allows parents to monitor the spending of their teens.

The Pajama Mommy Community has written a post that reviews and highlights the key features of the new PayPal account. Check out their post, Help Teens Manage Money with PayPal’s New Student Account, for more information.

Money Tips for College Students

Meaghan Montrose — Sat, 22 Aug 2009 19:52:28 +0000

Entering college marks a period of many changes for a young man or woman. You often leave home (sometimes very far from home) and have to make many decisions on your own such as “should I buy this?”, “what will I have for dinner?”, “how do I wash this?”, “should I take this class?”, “do I need to go to class?”, etc…

One of the more difficult parts of being on your own is managing your finances. For most new college students, this is the first time you have had to make so many financial decisions.

In my recent blog searches I have found some advice to help with these money matters. The Get Rich Slowly blog has a great post of 27 Money Tips for College Students. The post is older (from 2006), but the advice is timeless. I definitely recommend checking out the tips if you are a new college student or a veteran looking to make smarter money decisions.

Blog Carnivals for August 2009

Meaghan Montrose — Mon, 10 Aug 2009 18:01:54 +0000

Here are a few blog carnivals for the month of August that are worth looking at. The carnivals contain many good reads (including contributions from yours truly). Be sure to check them out!

Carnivals about Money and Finance:

1st Edition of the Carnival of Money Tips hosted by FinancialHealthGuy.com

The Best of the Best in Money and Personal Finance hosted by LenPenzo.com.

Carnival about Parenting:

All About Parenting Blog Carnival hosted by Jennifer’s Single Parent Blog.

The Frugal Dad’s Tri-Level Emergency Fund

Meaghan Montrose — Sun, 09 Aug 2009 19:31:24 +0000

The Frugal Dad always has great advice for saving and managing money. A post I recently found called the Tri-Level Emergency Fund is no exception. The Frugal Dad breaks up the emergency money you have saved into three important categories.

Level One in his plan is known as the “In-House Emergency Fund”. He suggests that the first $500 you have saved for emergencies should be easily accessible and kept in your house, car, etc… Follow the link to learn more about the three levels.