Hello Quizzlers! My name is Kristina and I just became an intern here at Quizzle.com. I graduated from college in May, so I am learning a thing or two about the importance of post-graduation money management.

Being a college student can mean a lot of things, but along with all of the fun comes new responsibilities.

It is the first time you learn how to do things on your own, including personal budgeting.  Keeping track of the money going in and out of your pocket can seem tedious at times, but it is necessary to prevent getting into serious problems like debt.

Here are a few money saving tips to help while you’re away from home:

1. Take advantage of campus activities

Your school wants you to enjoy yourself while you are there, so most campuses will host events that are free for students to attend.  Anything from sporting events to stand-up comedian performances could fall under this category of school-sponsored events. Student groups and organizations are a good place to start to look for a list of upcoming events. You might be surprised to find out how much you can save on the weekend by going to a few free things every once in a while.

2. Use student discounts

Going along with finding out what kind of deals your school offers, check out the local restaurants and stores in your college town to see if any of them give special discounts to students. This could be a cheaper ticket to the movies, a free drink with your meal, or even a percentage off your purchase at your favorite retail clothing store. Who knew that having a student ID could be like having a reusable coupon to all your favorite places?!

3. Buy used

It is just a fact—sometimes things aren’t taken the best care of in a college house or apartment. In contrast, why should students not be able to have nice furniture?  That’s where buying used could come in handy. Look in on-line classifieds for used furniture. There is probably a site specifically for students at your school. There is a good chance you will find some great deals, especially if you look for people who are having moving sales.

Since you aren’t buying something new you don’t have to make a long-term commitment to a color or style. You can also use the practice of buying used products when it comes to books and other class requirements. And then at the end of the year, you can sell your books and furniture before leaving campus to make some extra cash for the summer.

4. Host group events

Something my friends and I realized while away at school is that we missed home-cooked dinners with the family. So we decided to recreate that atmosphere at our college apartment. Once every two weeks (you can do this more or less frequently depending on everyone’s schedules) we would have a group meal together.

There are a lot of times that buying and cooking for one can be tricky, so buying for a group can be cheaper (food isn’t going to waste) and cooking is easier (since most recipes aren’t written for only one serving). Rotate who cooks and who hosts, but every time divide the grocery bill amongst everyone that comes—it usually ends up only being a few dollars per person, so it is a great alternative to eating out with friends all the time.

5. Look for other alternatives

Love having coffee in the morning while you’re in your first class? Make it at home instead of buying an overpriced cup’o’joe at a coffee shop. Pack a lunch or a snack rather than going out to eat in between classes.  Other luxury expenses can really add up, so if you can figure out a way to tweak your expensive habits and save a little (or a lot) of money, you will definitely appreciate it in the long-run.

6. Watch sales

Keep an eye out for sales on items you purchase regularly. Paying a sale price for the things that you use on a daily basis will save you money in the long run. Shop around at different grocery markets and drug stores for the best price on these staple products. One great thing about comparing prices is that competing stores could be offering discounts on different products each week.

7. Walk, bike, carpool, or ride the bus

With the ever-increasing gas prices, driving a car around campus can get pretty costly. Instead, bring a bike with you to campus or walk to class when you can (weather permitting). Also, look into the public transportation system at your school. A monthly or semester bus pass could save you money on gas for those trips that are too far for your bike. If you have no alternative to driving yourself to class, find neighbors or classmates that want to carpool. You’ll all save money on gas and parking!

8. Cut back on utilities

There are some little changes you can make in your daily routine that could save you money on your utility bills.  Simply unplugging your cell phone charger when it’s not being used or opening windows instead of using a fan or the air conditioning can save on electricity costs. Also try using natural light during the day and turning off all unnecessary lights. Taking timed showers and only doing full loads of laundry (whenever possible) can save money on the water bill. On top of saving money you are also being more environmentally-friendly!

In my experience, these ideas can help minimize a few of the most common financial burdens.  This way you can spend your time worrying about other important things, like what’s for dinner or what to be for Halloween.

Photo credit: http://www.flickr.com/photos/stuartpilbrow / CC BY-SA 2.0

Want a chance to win a million dollars? (Now THAT would certainly boost your Quizzle rainy day fund grade…) How ’bout some $2,000 VISA gift cards? I know…it sounds too good to be true, right?

Not necessarily!

Our friends at Quicken Loans just launched a fun sweepstakes called Unlock Your Inner Millionaire where not only do you enter for the chance to win some big cash, but there’s also a lot of daily gift card prizes too – like gift cards from Fathead, Xeko, Target, and Amazon.com.

In the online game, you get to select a key and then try to unlock the door of a number of homes – and you can keep trying every day! The sweepstakes runs until December 31, 2009 so have a little fun and see if you can unlock some prizes!

Whether you’re strapped for cash or feeling comfortable, we could all stand to make a few tweaks to our personal budgets. Save more, save faster and save smarter with these money saving ideas:

55 Ways to Save Money

1. Pay yourself first. Save money without thinking about it. Set up direct deposit into a savings account and watch your nest egg grow.

2. Brew it at home. If you grab even the cheapest of javas on the go, say a $2 cup every week day, you’re shelling out $520 a year. Try the big tubs of coffee instead. They’ll last and you’ll save.

3. Unplug. Lots of gadgets, electronics and appliances draw power even when you’re not using them. Pull the plug on items that you only use occasionally and for bonus points, unplug your chargers (cell, PDA and the like) when not in use.

4. Stay in with friends. This one’s easy. Going out with pals almost always costs more than staying in. Resist the urge to splurge and invite friends over for cocktails, a potluck, board games or a movie.

5. Buy in bulk. Sam’s Club and Costco are your best friends.

6. Brown bag it. If you prefer the grab and go, you could easily spend $1300 a year just on lunches ($5/lunch/week day). Pack your lunch instead – you’ll save some dineros and the food will likely be more nutritious anyway.

7. Team up. A great way to involve kids in the saving process is to pick a fun family item that you all want – maybe a new TV, an Xbox or a trip to the amusement park – and agree to toss your spare change in a bottle in the kitchen. It’s a good lesson in saving for what you want and teaming up will bring the family together.

8. Cut the cable (at least a little). There’s often lots of room in the cable bill to cut costs. Cancel the channels you don’t watch, ask for the latest promotions and cut out luxury features (i.e. DVR, Pay-Per-View).

9. Ditch the dry cleaner’s. There are products widely available now that allow you to do your dry cleaning at home and with ease.

10. Build a budget. Find out how much is coming in and maybe more importantly, how much is going out each month, with free online budgeting software. Then, look at each and every bill for opportunities to make cuts and make them.

11. Get your news online. Instead of paying for costly subscriptions, log on and read online.

12. Turn off the tube. Click the “off” button on your TV and not only will you save energy, you’ll also shelter yourself from ads that may tempt you to take out your wallet.

13. Quit a vice. We all have ‘em and they’re the worst offenders in the wasteful spending department. Consider cutting back or quitting altogether. Smokers, consider this: If you smoke a pack a day, you could save $2,555 a year (at $7 a pop) by quitting.

14. Download coupons. Thanks to sites like ShortCuts and P&G eSaver, you can put the scissors away and click your way to coupon heaven. Just select the coupons you want, download them to your grocery savings card and save money at checkout.

15. Borrow instead of buy. Remember that place you went to as a kid? You know, the one with all the books? At your local library, you can borrow books, CDs and DVDs and it will always beat Amazon’s best deal.

16. Create a “slush fund.” Deposit any random checks you get – like rebate, rewards or reimbursement checks – into this fund. You can use it for any purpose, but if you’re in a position to enjoy some of your savings now, make the goal something fun like a vacation.

17. Opt for H2O. Swap out the soda, wine or cocktail for water, especially when out at a restaurant. It’s free and better for you.

18. Forget the meat. Try veggies in place of a meat dish once a week and the dollars will add up.

19. Buy store brands. Ditch the brand names and you could save $1,200 per year.

20. Manage your credit. A good credit score will open up doors to the best interest rates and terms on credit cards and student, personal, auto and home loans. To manage your credit, first find out what your credit situation is with a free credit report and score. Then, improve it if it’s bad and monitor it if it’s good (to make sure it stays that way).

21. Check coupon codes before checking out. Before you buy anything online, make it a habit to check for coupon codes from sites like RetailMeNot first.

22. Bike it. If your destination is nearby, jump on your bike to get there instead of wasting expensive gas. (It’s a great workout too!)

23. Auto-pay your student loans. Many student loan servicers offer a discounted rate if you opt to have your monthly payment automatically withdrawn from your bank account. Stop worrying about missing a payment and save a few bucks.

24. Carpool. Split the driving duties and the gas costs.

25. Grow your own veggies. Produce is expensive! Save some green by indulging your green thumb.

26. Give your windows some TLC – Cold edition. When it’s cold out, cover your windows with plastic and shrink-wrap them by using a hairdryer to heat the plastic at its edges. Winterizing older or cheaper windows could save you cash on your heating bill.

27. Give your windows some TLC – Hot edition. When it’s hot out, skip the air conditioner. Instead, open your windows and use a box fan to suck warm air out.

28. Attack your closet. Put aside all the clothes you don’t wear and give them to charity. Make sure to document everything and consult this handy online valuation guide so you can claim a generous deduction on your tax return next year.

29. Get the Entertainment book. These books are chock full of coupons and will pay for themselves after just a couple of uses.

30. Refinance your home loan. You may be shelling out extra dollars for your monthly home loan payment when you don’t have to. Give your trusted mortgage banker a call to find out if you can reduce your mortgage rate and payment by refinancing. Or set up a free Rate & Payment alert that will let you know via email when a home loan program becomes available at the interest rate or payment “sweet spot” you’re interested in.

31. Follow up on rebates. They can be a pain, but the return on your effort is worth it. Fill out the forms and snail mail them in.

32. Opt out of escrow. It may be a smart choice to opt out of having an escrow account on your home loan because it’s non-interest-bearing. Instead, make the same payment via payroll deductions into a money market or high-yield savings account. In this market, your money may not earn much, but even 1% is better than 0%.

33. Reduce your rate. It never hurts to ask. Call up your credit card company and ask for a lower interest rate on your card. If you carry balances, an interest rate reduction can save you big time.

34. Buy food for multiple meals. Maybe the veggies you’re adding to your pasta sauce could also be served up in a veggie pita. Buying flexible menu items will ensure you get the most bang for your buck by getting multiple uses out of your food.

35. Never grocery shop hungry. Growling stomach = Stop sign.

36. Take advantage of points. Do some research and find out if you can earn points with your debit card or credit card. Then, use those points to buy things you’d have to buy anyway, like gifts for teachers, new electronics or school shopping.

37. Love your leftovers. Food in a doggy bag is like a free meal ticket. Suck it up and take advantage.

38. Pass on the ply. If your bum can handle it, go for single ply toilet paper. We’re talking cents here in terms of savings, but if you really need to tighten the budget, you need to consider everything.

39. Print online. Things like business cards are a fraction of the cost online compared to the local printer.

40. Be prepared for a rainy day. Set your sights on saving 4 to 6 months worth of expenses in case of emergency. If a little rain falls in your life, like losing your job, having a money cushion could help you stay out of debt and avoid high interest rates. Keep tabs on your progress with free online savings tools.

41. Make gifts with your own two hands. Homemade gifts are the most thoughtful gifts one can give. Use sentimental items like pictures and souvenirs to put together a memorable present for a friend or family member.

42. Go grocery store, not corner store. If you’re buying basics like milk and toilet paper at the pharmacy, corner store or gas station, you’re probably paying more for each item than you would at the grocery store or supercenter.

43. Split the babysitting duties. Ask your neighbors and close friends if they’d be willing to babysit your kids sometime and in return, you’ll look after theirs another time.

44. Split the babysitting costs. Coordinate nights out with your neighbors and close friends and go halfsies on the babysitter bill.

45. Bar hop with a brain. If you frequent the bar already, opt for happy hour or eat before you go.

46. Nix the car lease. Buy used or “new used” and drive the car as long as you can. If you’ve picked wisely, you can save big over the long-term.

47. Wait for the deal. Particularly on big ticket items, monitor sites like Slick Deals, Deal News and Fat Wallet, for the best deals. Then take advantage.

48. Do your own simple home repairs. With all the home improvement shows out there, the “I don’t know how” excuse no longer works. Google it, look it up on DIY or HGTV, or ask the folks at the hardware or home improvement store, and get to work.

49. Help yourself to the highest yield savings. Move your money from your checking account to a high-yield savings account. Even a percentage point difference in interest rate can make your savings grow faster.

50. Comparison shop [dot] com. Websites like Shopzilla do the work for you. Just type in what you’re looking for, press the button and voila! A list of prices and stores that carry your item so you can easily find the best deal in town.

51. Host a clothes swap. You know what they say, one man’s trash is another man’s treasure. Get a bunch of friends together, have everyone bring clothes that no longer fit or they’re not interested in, and go to town!

52. Reel in a roommate. Splitting housing costs could save you hundreds, even thousands of dollars a month. It’s a different lifestyle, but if you need to make big changes in your budget (ahem, spend less), this tip will get you there quicker than most.

53. Buy used. Whether it’s clothing, books or iPods, buying used and refurbished items can save you a pretty penny off the sticker price.

54. Plan before you shop. Wandering around a grocery store often leads to overspending. Plan your meal(s) before you shop and stick with your list.

55. Stick to the 10% rule. Follow the age-old rule of saving 10% of everything you make or are gifted. And start ‘em young! If you have children, open up a savings account for each of them and have them follow this rule as well.

Did your best money saving tip make the list? If not, share with us in the comments.

[Photo credits: http://www.flickr.com/photos/tsmall/ / CC BY-SA 2.0]

Big changes are coming. The bulk of the new Credit CARD Act provisions go into effect in February, which may change the way many of us use credit.

While some consumers will benefit, others may find it difficult to access credit at all. In fact, a few credit card companies have already begun cutting off customers without explanation, just a rude surprise at the register.

Instead of being at the mercy of changes to laws and credit card company policies, take action to improve your credit score now so you don’t have to worry about what may come. Here are some tips to get you started:

How to Improve Your Credit Score in 7 Steps

1) Pay your bills on time every month.

The single most important thing you can do for your credit score is to pay at least the minimum payment (the amount you’re required to pay) for each bill on time every month.

2) If you have past due bills, pay up and stay current.

If you’ve made some mistakes with your credit, you’ll need to settle up to demonstrate that you’re able to pay your debt.

3) Pay down your credit cards.

Not sure where to start? A good rule of thumb is to pay down the credit card with the highest interest rate first (while also paying at least the minimum payment on other cards). When you’ve paid down that balance, move on to the card with the next highest interest rate, and so on.

4) Spread yourself thin.

If you have multiple credit cards, try to spread your charges across them and keep your balances low. Shoot for using less than 30 percent of each card’s credit limit. If you don’t have several credit cards, it’s not necessary (or recommended) to open accounts just to spread out your debt.

5) Don’t close accounts you no longer use.

Closing accounts can hurt your credit score because it lowers the total amount of credit available to you. Instead, dust off those old cards and use them at least once a month on smaller purchases, like gas or take-out. Each month you pay your bill on time, the credit card company will report you as a-okay.

6) Don’t open new accounts you don’t need.

And try not to open too many accounts in a short period of time.

7) Check your credit report regularly and dispute inaccuracies.

Start by getting your free credit report from Quizzle every six months. Learn what’s on your credit report and how things are reported. If you see something that doesn’t look right, dispute it with the credit bureau. In Quizzle, it’s as simple as clicking the “Dispute this with Experian” button next to the account in question.

Lastly, be patient. Improving your credit score can take time. Just like a diet, there are no quick fixes. Be responsible with your credit, pay your bills on time and use your head — pretty soon, you’ll be reaping the rewards of good credit.

[Photo credit: http://www.flickr.com/photos/travistruman/ / CC BY-NC-ND 2.0]

If you just turned 18, it’s time to start thinking about credit and your financial future. Your credit report will affect almost every important financial move you’ll make, including buying a home or car. It may even affect your chances of getting a job, as employers can check your credit report during the hiring process.

The good news is you have a clean credit slate and the chance to start off on a positive note, establish good credit and keep it there.

Five tips to help you build credit from square one

1. Open a credit card account.

If you’re able to qualify for a new credit card, make sure to keep your total balance low enough so you’re able to pay it off each month.

Your “payment history,” or how reliably you pay your bills on time every month, makes up about 35 percent of your credit score. Since you’re building credit from scratch, you have the opportunity to create a flawless payment history. That’s why it’s smart to keep balances low, at least at first. Starting slow and creating good credit habits early on will help you establish a solid credit score in the short-term and also maintain a good credit rating in the long-term.

If you’re unable to open an unsecured credit card (that’s the “standard” type of credit card) because you don’t yet have a credit history, don’t fret! Another avenue for establishing credit is a secured credit card. A secured credit card is just like an unsecured credit card, only you put down a security deposit up front to provide assurance to the bank or creditor that any debt you take on will be paid.

Because a secured credit card has built-in safety measures – for both you and the creditor – it’s a great option for many people who are just getting started with credit. And just like a “regular” credit card, a secured credit card will help you build credit, provided that you make all your payments on time.

2. Pay your bills on time every month.

It may seem simplistic and redundant, but paying at least the minimum payment (the minimum amount you’re required to pay) on time every month is the most important thing you can do to build and maintain a good credit score. Period.

3. Be patient.

You may have to wait about six months after you’ve opened your first credit account before there’s enough credit information on you to tabulate a credit score.

4. Check your credit report every six months.

So you’ve opened a new credit card and paid each bill on time every month for about six months, now what? Check your status! Find out what exactly is on your credit report, what your starting point credit score is and check back about every six months or so.

It’s also important to exercise a bit of caution when you check your credit report online. There are a lot of “free” credit report sites out there littered with catches and gimmicks. Make sure you choose the real deal. The only website that gives you both a totally free credit report and free credit score, no strings, no trial subscriptions, no credit card required, is Quizzle.com.

5. Only apply for credit you need.

To start, one credit card should be sufficient. Prove to yourself that you’re able to keep the balance low on your one credit card and pay the bill on time every month before you consider opening up other credit cards.

If you feel like you’re ready to take on more credit, you may want to consider calling your credit card company and requesting a credit limit increase instead of opening a new credit card. Your request may be denied until you show them you’re able to manage your credit responsibly. Ask the customer service representative if they can tell you about how long you’ll need to wait, assuming on-time payments, until you’re eligible for a credit line increase. Set that time frame as your goal and continue to exercise steps two through four.

You have an opportunity here in that you’re starting from scratch. You have the choice to build a solid foundation for a credit history, which will open the door to the best interest rates and lowest payments on homes, cars and personal loans, or to ignore this privilege and responsibility, potentially damaging your credit score for many years to come and costing you a lot of money. Make the right choice! Years from now, you’ll be glad you did.

[Photo credit: http://www.flickr.com/photos/rashdan/ / CC BY-NC-ND 2.0]