Broke-Ass Student

All right, so maybe we aren’t all experts in the financial arena yet but we do share propinquity in a collective passion for personal finances. Find out what happens when a group of 20-somethings get together and start writing about money, life and college.

Introducing The College Money Network, a group of personal finance sites run by college students, grad students, and recent grads who have come together to bring you the best content possible to help college students and recent grads improve their finances in college and after college. While we all write about personal finance, we come from diverse backgrounds, and each one of us has our own unique perspective and voice. By joining forces, we will work together to provide you with the most informative and entertaining content on issues that affect twenty-somethings like us.

Visit our individual member sites and spread some love!

• Broke Grad Student [RSS]

Adventures in paying back $20,000 in student loans

• Green Panda Treehouse [RSS]

A college student trying to balance a budget

• MFA Or Bust [RSS]

Fine Arts ≠ Money

• Poorer Than You [RSS]

Talking about money, without being boring.

• This Writer’s Wallet [RSS]

The story of a Chicago 20-something as she tries to make, save and spend money

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A huge thank you to Broke Grad Student for all his hard work engineering this project.

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Shelter Your Financial Savings and Eliminate Exposure to Risk

I pulled the bulk of my money out of my savings account months ago when interest rates started plummeting. My goal right now is actually two-fold; to preserve my current savings through diversification (such as foreign currency and commodity investments), and to aggressively pay down my debt. There is simply no incentive for me to continue putting money away in a bank account with current deflated interest rates and rampant inflation. I don’t know about others, but I prefer to maintain the purchasing power of my hard earned savings. Sigh. At least this tremulous financial climate gives me an excellent incentive to focus on paying off my debt this year in its entirety – and to stay out of debt forever.

And at least I’m faring better than the average IndyMac customer, who was blindsided last week when their bank pooped out, and where some had a rather rude awakening upon realizing their assumption that all deposits were insured was terribly misguided.

Is money safe in the bank? Generally, yes it is. There however exist federal guidelines to help shelter bank deposits from unnecessary risk. I’m rather astonished folks with such large balances of savings weren’t aware of this.

FDIC insurance –

Even though this information can be found with a tiny bit of research, I’ll try to provide the general gist here. The Federal Deposit Insurance Corporation (FDIC) fully insures individual bank accounts up to $100,000 per depositor, and up to $250,000 for certain retirement accounts, such as an Individual Retirement Account (IRA). It does not, however, cover investments in bonds, stocks, mutual funds, annuities, life-insurance policies or municipal securities.

Since each account is insured separately, coverage beyond the $100,000 threshold can be increased by opening an account at a separate bank – (it has to be a different bank though and not another branch of the same bank, obviously.) Assets can sometimes be spread out between different account types at the same branch as well so if you’re unsure, it’s always best to consult your financial institution for strategies to ensure maximum insurance coverage.

You can also use this form to verify if your banking institution is currently FDIC insured: FDIC Bank Find

(Recommended Reading: FDIC Website)

Indymac bank failure

As a flux of IndyMac customers are now unfortunately discovering, exposure to risk is greatly increased when an account exceeds $100,000 and the bank flops. The FDIC will immediately step in to liquidate and disseminate the bank’s remaining assets, but you may have the unpleasant experience of receiving but a mite of your balance again.

My heart really goes out to the hapless people in this video clip as they waited outside IndyMac this week to withdraw funds.

(Oops, I had to remove the embedded video due to a coding issue with FireFox web browser. To view a clip of the video, click the link below)

IndyMac Bank Run Confrontation in California

One man ‘couldn’t find his balance’ since the machines weren’t operating; he had no idea what his current bank balance might be or how to withdraw money for his pending bills. My local news showed a distraught customer who claimed to have over $320,000 in a savings account and was mendaciously led to believe the entire balance was insured due to three names being on the account.

This only reinforces my antipathy for blindly entrusting others with hard earned savings, and why it’s prudent to understand all the nitty gritty details involved in any type of investment. Banks are usually safe havens, but even anchorable banks can fail.

I’m shocked that people weren’t more cognizant of the FDIC guidelines and hopefully this IndyMac incident will bring awareness to help others avoid similar blunders.

~†~ Baby Steps Are Key  ~†~ No one will care about your hard earned money as much as you do. That’s why it’s imperative to always have a solid understanding of the details on your investments and all the risks involved.

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Featured Resources

Compare prices and read helpful product reviews to make smart buying easy through Ciao! - Price Comparison and Product Reviews for the savvy shopper.

How resourceful Americans kept it rational during World War II

Enormous sacrifices were required during the onset of World War II, as the American government conserved resources through the enactment of the Food Rationing Program of 1942, a regulation which affected Americans for over three years and limited the amount of commodities a consumer was allowed to purchase.

This and other governmental programs resulted in strict rational provisions on gasoline, clothing and food, among other staple products, and affected every American household in the early 1940’s.

For permissible purchase of affected goods, government stamps and tokens were issued based on family size and came enclosed in ‘war ration books’. The red and brown stamps in the war books covered meats, cheeses, butter, fat and oil, while blue and green stamps dealt with processed, bottled, canned and frozen products. Special ’sugar buying cards’ were also introduced in 1943.

Each of these stamps authorized the purchase of rationed goods in specific quantity and time designation, and a point system was established.

Generated propaganda campaigns were broadcast through government-sponsored ads, posters, pamphlets and radio shows to urge patriotic Americans to obediently comply with their new circumstances of scarcity without complaint.

During this national period of sacrifice, factory jobs swelled as women were recruited en masse to aid in production of war supplies; meanwhile, thriving black markets emerged to meet additional consumer demand for sugar, gasoline and meat.

Americans were encouraged to grow their own Victory Gardens to further conserve and replenish food during the war, and approximately 20 million Victory Gardens accounted for 40% of American vegetables by 1945, according to US-history.com.

I was born during the ’80’s and just missed the economical recession of the 1970’s. Since I’m very young, my generation has never experienced a rationing like this before. I can’t help but wonder the probability of a similar situation arising in our current political environment. How would you have coped during this unique war-driven era, where overseas contention directly affected domestic responsibilities and consumption?

Image sources WWII Era Ration Cards, Ames Historical Society, Travel & History, Women In WWII

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A country without a memory is a country of madmen. - George Santayana

The past does not repeat itself, but it rhymes. - Mark Twain

I believe that history is capable of anything. There exists no folly that men have not tried out. - Karl Gustav Jung

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Featured Resources

Compare prices and read helpful product reviews to make smart buying easy through Ciao! - Price Comparison and Product Reviews for the savvy shopper.

I’ll be testing and manipulating some different website themes throughout the next few days. If you experience funky design or broken sidebars, don’t worry - the site’s not broken, I swear!

Since I’m a coding newbie, I’ll be using some crazy neon hues to help me locate different parts of the CSS stylesheet. From there I’ll go ahead and start tweaking the code. It’s kind of a ‘learn as I go along’ type of thing.  

Hah! This should be interesting …

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One of my goals this year has been to gradually move away from heavily processed fast food and toward more quality nutrition. This was certainly not easy since I’m usually pretty helpless in the kitchen - just ask my boyfriend who watched in horror as I nearly took my finger out of commission while trying to crack open a dinner roll.

But by sprinkling in a small dose of determination, I’ve finally established better eating habits that are actually quite simple. We’ll just ignore the scars for a moment …

Recreation of the body through food

How many times have we heard that old adage, you are what you eat? But it’s actually true, probably more than we realize!

The body is a miraculous machine and every moment each tiny cell is hard at work rebuilding and regenerating itself, and throughout a period of time all our skin cells, organ cells and brain cells will have degenerated and be completely replenished. The you sitting here now reading this will be recreated to a completely ‘new’ you in a few months from now! What’s so important during this recreation process is how our bodies use the food we ingest as raw materials and building blocks for destroying old cells and constructing healthy new ones.

So what we eat really does literally affect who we are, right down to the cellular level!

Growing your own garden

As I mentioned in Beauty On A Budget, one of the best decisions I’ve made this year, especially financially, is growing my own vegetable garden. Not only are homegrown veggies packed with nutrients and much cheaper than buying from the supermarket, they are ridiculously convenient when it comes to coping with a hectic schedule.

When I rush home from work in the evenings like a ravenous lunatic, I can have a fresh salad brimming with romaine, tomatoes, broccoli, celery, cucumbers and sweet peppers plucked straight from the backyard and plopped onto my plate; the small beginnings of a fiesty feast ready in minutes!

(I’m actually munching on a salad as I write this.)

Always plan the grocery shopping list

I can try to convince myself I’d like to make an effort to eat better, but let’s face reality here. If I arrive home from work exhausted and the cupboard or fridge is nearly empty or piled with crap, I’m going to end up whipping up whatever happens to be lying around in there.

Without being stocked with the proper ingredients by planning out my shopping strategy beforehand, I’m all ready setting myself up for failure. This is why it’s important, especially during a transitional phase, to always plan a grocery list and have the items readily available when you need them.

My grocery list usually looks something like this;

Misc

green tea, multivitamins, Ester C 1,000 Vitamins, Apple Cider Vinegar with Mother, red wine, organic snacking chips, jelly beans, dark chocolate, Jägermeister .. (oops, don’t ask ; )

Carbs

wild grain or brown rice, whole wheat pasta, oatmeal, multigrain or whole wheat bread, baked potatoes, beans, corn, fat-free yoghurt, three varieties of fruit (strawberries, blueberries, apples, bananas, pomegranates, kiwi, oranges, etc)

Proteins

low-fat cottage cheese, chicken breast, skinless turkey breast, eggs for egg whites, lean ground beef, seafood (salmon, tuna in water, haddock, orange roughy, shrimp, etc)

Veggies

basically anything scooped from the veggie garden

Creating simple nutritious meals

To motivate myself further, I keep a list of my favorite foods tacked to the fridge in their proper categories for when I’m hungry and feeling irritatingly indecisive. I simply choose an appropriate portion of carbs, proteins and veggies from each column and combine them together to create a simple yet nutritiously complete meal.

In the morning I may have a bowl of strawberries with some cottage cheese and a few slices of sweet pepper, then a tuna sandwich on whole wheat bread for lunch. For the evening, I may choose steamed brown rice and chicken with a garden salad, paired with a glass of red wine and some dark chocolate for dessert. I always carry water or green tea with me in a mug to sip on throughout the day while at work or running errands.

• Stock up on staple foods while on sale. If you can keep them from perishing, go ahead and stock up on your favorite foods if you find them at a decent price.
• Instead of eating three large meals, consider eating five or six smaller meals spread throughout the day. This helps natural metabolism and can also prevent accidental overeating.
• Eat just enough to satiate hunger, but not until too full. Eating just enough will help you feel relaxed and alert but who can stand that bloating achy feeling after gorging yourself completely? There’s a reason your body is sending that horrible nauseous feeling to your tummy, it’s simply not healthy. Next time you’re dining out, observe the expressions of people coming in compared to the sluggish ones leaving, who have managed to stuff themselves to the gills! 
• Reconnect with the simple joy of eating. Take time to slowly chew your food and savour each delicious flavor and texture. It’s easy to rush through a meal and forget to really enjoy the pleasure of this small blessing - make an effort to actually taste your food.
• If you’re trying to eat healthier, always keep one free day to eat whatever you desire. Make a promise to yourself that one day out of the week, all rules go out the window and anything goes. Indulge in that yummy double fudge peanut butter cup ice cream or that Big Mac with fries, guilt free. The key to anything is moderation and you deserve some play time. So for one day, let loose and have fun!

~†~ Baby Steps Are Key~†~ Nourish your body properly and watch the miraculous transformation from the inside out

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A bizarre Stonehedge-esque granite monument built on a fertile Georgian hill heralds the conservation of mankind, yet this mysterious artifact remains virtually unknown

A friend of mine recently returned from the state of Georgia brimming with all his crazy backpacking adventures on the road and, as he rattled off various traveling experiences, one in particular was so bizarre that it immediately grabbed my attention.

“We spotted a gigantic rock structure planted on a hilltop in the middle of nowhere while passing through Elbert County,” he said, his easygoing drawl popping over the phone. “There was even mention of a time capsule buried underneath, but that particular tablet seemed incomplete.”

He paused. “I tell you, the hair on my arms was standing on end while observing it all. It was an enormous sun dial with writing and those stone structures were pretty damn spooky.”

“Wow, talk about seriously weird.” I was intrigued. ”What else did you find there?”

As he nonchalantly continued his description, I became even more enthralled.

He depicted what were known as the ’Ten Guides of Reason’ inscribed on four granite monoliths, all astronomically aligned and almost twenty feet in height, while a fifth slab helped support a capstone and had a hole drilled in the center for proper alignment of the Northern Star. Messages were etched on the capstone in four ancient (but extinct) languages; Babylonian, Ancient Greek, Sanskrit and Egyptian Hieroglyphs.

The Guides were placed on each face of the four giant slabs in eight different languages, he explained.  Starting due North and moving clockwise around the structure, the Guidestones were written in English, Spanish, Swahili, Hindi, Hebrew, Arabic, Ancient Chinese, and Russian.

The English version encouraged humanitarian conservation through establishment of a universal world government, more conscious spirituality and a proclamation of population control, while the first principle implied the disposal of the majority of mankind.

I began to silently wonder if my friend had been reaching for the wacky tobaccy again.

History of the Georgia Guidestones

Never before had I heard of the Georgia Guidestones, a twenty-foot artifact built in Elbert County, Georgia, comprised of six granite slabs weighing in at over 100 tons, according to the Elberton Granite Association. Due to its enormous size and unusual location atop a hill near isolated pastures, the monument is far from discreet. So where did these obscure Guidestones come from and what messages do they contain?

According to lore, in 1979 an unknown man by the name of R.C. Christian walked into Elberton Granite Finishing Company representing a “small group of Americans who seek the age of reason” that wished to offer guidance to humanity by immortalizing their vision. No one has stepped forward to reveal the man’s identity or the esoteric cult he claimed to represent, therefore the anonymous financial backing of the Guidestones continues to remain shrouded in mystery.

RC Christian - Hmm, a pun on “Roman Catholic Christian”, perhaps?

The Ten Esoteric Principles in English

• Maintain humanity under 500,000,000 in perpetual balance with nature

(This would entail culling and eliminating 9/10ths of the current world population.)

• Guide reproduction wisely - improving fitness and diversity.
• Unite humanity with a living new language.
• Rule passion - faith - tradition - and all things with tempered reason.
• Protect people and nations with fair laws and just courts.
• Let all nations rule internally resolving external disputes in a one world court
• Avoid petty laws and useless officials.
• Balance personal rights with social duties.
• Prize truth - beauty - love - seeking harmony with the infinite.
• Be not a cancer on the earth - Leave room for nature - Leave room for nature.

A Hidden Time Capsule?

A short distance west of the artifact lays a flat granite tablet nestled in the earth, which provides general information on the Guidestones (Center Cluster Erected March 22, 1980) and displays the Astronomic characteristics, as well as makes references to a potential time capsule buried six feet underneath the site, to be excavated on a currently undisclosed date. Some skeptics conclude the absent dates aren’t meant to be uncovered until the vision of the Guides - believed to have been 20 years in the making before the actual erection of the stones - has been fulfilled. 

ASTRONOMIC FEATURES:
1. CHANNEL THROUGH STONE
INDICATES CELESTIAL POLE.
2. HORIZONTAL SLOT INDICATES
ANNUAL TRAVEL OF SUN.
3. SUNBEAM THROUGH CAPSTONE
MARKS NOONTIME THROUGHOUT
THE YEAR
AUTHOR: R.C. CHRISTIAN
(A PSEUDONYN)

As a side note, the word “pseudonym” is misspelled on the stone.

Has anyone visited the Guidestones in Georgia? Is this unusual structure a sacred plea to lead humanity into an ‘Enlightened Age of Reason’ or simply the misguided views of an arrogant elitist Covenant?

Fascinating stuff.

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“There’s quicksand all around us,” says 87-year old veteran investment advisor Charles Allmon. “We’re in an economy that’s tanking, we’re looking at the most significant economic downturn since the 1930s, and the dollar is going to hell.”

New Threat: The ‘Obama’ Market
The Sun
June 30, 2008

Mr. Allmon has been in the stock market for over fifty years and currently manages over $200 million in assets - and has outperformed this year’s rocky market with modest gains of between 1% and 2%.

Mr. Allmon says, “Senator Obama is leading a children’s brigade, but the problem is children shouldn’t be leading this country.”

Further, the veteran adviser, who publishes a 46-year-old monthly investment newsletter, the Growth Stock Outlook, out of Bethesda, Md., made a marvelous market call last July with the Dow Jones Industrials hovering around 14,000 and bullish sentiment rampant. In an ominous warning to subscribers, he urged extreme caution, predicting the Dow was on its way to 8,500 to 9,000, which he noted was a forecast that “could be on the high side.”
With the index having plummeted more than 2,500 points since then, his crystal-ball gazing talent is not to be taken lightly.

At the time of his forecast, Mr. Allmon recalls, some subscribers rang him up and told him, “You’re nuts.” But now, he says, “They’re beginning to recognize something is really wrong in this country, and an 8,500 to 9,000 Dow is very possible.” Thursday and Friday’s wicked two-day Dow decline of 465 points, or nearly 4%, he says, may be a prelude to that drop.

Mr. Allmon’s parting words: “We’re in a bear market that’s got more to go; don’t get sucked in.”

Lookin’ like a million dollars, even on a broke-ass budget

For me, beauty has always been a special type of spiritual elevation - a powerful radiation from the inside out that shines through in the joy we feel in our hearts and by unlocking the passion in our souls. Beauty encapsulates not only the physical, but possesses the mental and spiritual just as deeply.

Many women may feel afraid to cultivate their external beauty and end up neglecting themselves in fear of being too vain or self indulgent. This to me is an absolute shame. Feeling fabulous both inside and out is extreme nourishment for the soul and every person should penetrate their fullest potential on every level. No matter what age, anyone can be truly beautiful.

Beauty is all around us. Appreciating and cultivating your unique beauty is your own Divine right.

KISS (keep it simple, sugar)

Taking proper care of your body doesn’t need to be expensive or a hassle and once you establish a routine, in can actually be a lot of fun! I always try to keep my beauty regime as natural as possible. There are just too many synthetic ingredients found in beauty products which can aggravate the skin and cause unwanted side effects.

Beauty always starts from the inside. It’s terribly cliché, I know, but true. No procedure is more powerful than proper nutrition, light exercise, yoga and meditation.

Your skin is the largest organ of the body and if you’re out of balance somewhere internally, the effects will always show up on the skin in some embarrassing form. Drink plenty of water consistently throughout the day to flush toxins from the body. Please don’t wait to feel thirsty before drinking. If you do, you are all ready well on your way to dehydration and depriving your organs of essential moisture. If urine isn’t clear when you pee, you need to consume more liquids.

My drink of choice has always been green tea for its beneficial antioxidant potential. I always keep a mug of green tea handy and sip it consistently throughout the day wherever I go.

Yoga is by far my favorite type of exercise. The long term health benefits of yoga are precious and invaluable. Yoga not only teaches us how to quiet our minds and reach tranquility, but the gentle stretching techniques (known as asanas) allow our bodies to age with grace and strength.

My other favorite exercise has always been hiking. By walking at least 45 minutes at least three times a week, you’re getting superior health benefits without needing to worry about fancy or complicated exercise equipment. And the best part, it’s absolutely free.

Abide by your own inner clock. Always listen to your unique body triggers for guidance. When you’re feeling sore, do some light yoga and stretching for fifteen minutes. Feeling drowsy? Take a quick power nap - twenty minutes usually suffices.

Your body will always let you know when it’s time to rest, relax, eat, sleep and play.

Make time for quiet meditation in your daily routine. Nothing deteriorates loveliness quicker than stress, and meditation will help unlock the inner Divine to help you feel connected and vibrant.

~¤ Healing always begins from within ¤~

Ready to play mad scientist in your kitchen and concoct some savory beauty recipes? Dabble into these simple and inexpensive, yet highly effective secrets. I’ll start with what I refer to as “The Big Three”. These are the essential beauty items I keep well-stocked in at all times and would feel helplessly lost without.

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Vaseline is by far my favorite skin softener for problem areas. Top make-up artists also love using Vaseline on models like Kate Moss to give their skin that lovely dewy glow. Marilyn Monroe used to layer tons of this on while pairing it with baby powder to make her skin appear translucent and ethereal.

Vaseline can feel very goopy and heavy. The key here is to apply a very light layer at a time (a small dash of this stuff goes a long way), and always try to use on moist skin.  If it feels too thick or greasy in your palm, mix in a bit of water. You don’t need it everywhere; apply a small amount of Vaseline at night to where your skin tends to feel the driest. (This happens to be the creases on the side of my nose.)

As an added bonus, it’s one of my favorite lip glosses as well. I run a toothbrush over my lips to get rid of dry skin and immediately apply a smidgen for irresistibly soft puckers.

If you suffer from very thin, stubby eyelashes like I do, Vaseline is a beauty must-have. I coat both sides of my eyelashes with a tiny amount and allow it to set for ten minutes. Then I use an eyelash curler and, wow! The transformation is astonishing. My eyelashes are now lovely, thick and elegantly long. I’ve never spent a penny on mascara because this technique is so dramatic and effective.

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Apple Cider Vinegar with Mother is a miracle juice in a bottle. As someone who suffers from horribly dry skin in the winter, this is my holy grail for both dermatitis and acne blemishes. I mix 50% ACV with Mother and 50% tepid water in a small spray bottle and spritz it all over my face when my skin feels irritated and flaky. The ACV evens out the skin tone, kills bacteria, balances my skin’s pH levels and is a supreme blood purifier.

Suffering from dandruff? Add a generous amount of ACV with Mother to bath water, lean back to immerse entire back of head up to hairline and gently massage scalp with fingertips. Do this a few times a week and you’ll be amazed how quickly pesky dandruff (caused by bacteria and yeast) disappears. This also removes all the buildup gunk in hair. Enjoy your new silky soft mane! And don’t worry about the strong vinegar smell lingering in hair - it quickly dissipates.

I love this stuff so much, I even ingest a tablespoon of ACV with Mother every day internally for its blood purifying properties and for a boost of energy. Just be careful - the acid may wear away at tooth enamel when used over the long term. To counter this problem, add a tablespoon of ACV with Mother to hot water (you can also mix in a bit of honey to mask the yucky vinegar flavor if the taste makes you gag) and try to sip through a straw, allowing the liquid to fall to the back of throat.

At times I’ll notice tiny bumps forming on my arms and chest, which is usually caused by dry skin and eczema when hair follicles become clogged with oil. When I notice these, I spritz ACV with Mother directly to the area and the little buggers disappear overnight. Any acidic based moisturizer will also work to unclog these little annoyances when they sprout up.

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Raw honey is liquid gold for the skin. Honey kills bacteria, viruses and fungus and is an amazing moisturizer as well as another great counter to acne. This is by far my favorite homemade facial mask. Simply apply raw honey all over face and neck (the fingertips will warm the honey enough to allow it to glide on smoothly) and let sit for 20 minutes or more.

I love letting my honey mask sit on overnight. Since your skin warms the honey as you sleep, parts of it will dribble off onto the pillow. But for me the outcome is worth every bit of the small mess it creates. I don’t mind washing my pillowcases afterward because I’m always amazed at how calm, soft and glowing my skin feels in the morning after rinsing the honey off. I receive so many compliments on my complexion!

I slather honey on my lips as well for another great (and yummy) lip gloss - it makes lips unbelievably soft and the sugars in the honey are a natural exfoliator. Honey also has amazing healing properties and makes a great natural antiseptic. Apply honey to wounds to kill bacteria, lessen the probability of a deep scar forming and to prevent infection.

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Here are some other useful beauty tips I’ve acquired over the years.

Need exfoliation fast? Open a sugar packet and add a few drops of olive oil, gently apply to your face and rinse with tepid water. Mix instant oatmeal and water for another wonderful homemade exfoliating mask

Brighten teeth instantly by gurgling with Hydrogen Peroxide. Swish in mouth and be very careful not to swallow! You’ll look like a rabid dog by the time you spit the solution out, but try to hold the foam in your mouth as long as possible for optimal whitening results. And as a reader pointed out, using an incorrect concentration of peroxide can damage the enamel on your teeth. Always read the label on the bottle to be certain the concentration is safe for oral use.

Detoxify your skin … with kitty litter! This is one of those dirty little secrets you’ll pay hundreds of dollars for at the spa. You can have the same treatment in your own home for so much cheaper. Simply purchase a bag of 100% natural clay kitty litter (be sure to select a formula without clumping or any added chemicals or additives) and add a small amount of water to liquify. Apply to your face and entire body. Violà, an instant spa formula and invigorating mineral treatment!

Suffering from greasy, oily skin? Mash up a ripened tomato and apply the mush directly to your face. Leave on for at least 20 minutes and rinse with tepid water. Here’s another great recipe to unclog pores. Apply crushed cucumber pulp all over problem areas- it’s fabulous!

Getting itchy fingers and wanna mush up some more fruit? Try a banana this time. Smush a banana and add a tiny amount of honey to form a soft paste and apply the delectable goo directly to the face. Still have a few spare bananas on hand? Go ahead and eat one, then apply the smooshy rest to your hair as well. Now tell me beauty isn’t fun!

Crisco is a highly effective moisturizer and another big secret among Hollywood beauties. Hospitals even use this stuff (disguised under a different name, cream “C”) to treat skin conditions, like psoriasis.

Use powdered milk in the bath for a natural lactic exfoliator and silky smooth skin - you’ll quickly realize why milk and honey bathes were adored by Cleopatra. Milk is also a beauty secret used among many in the fashion industry. Instead of cleansing with water, many models simply refresh their face in the morning with a splash of milk!

Need an instant face lift? You’ll spend quite a chunk of change at the beauty counter by purchasing firming creams to tighten your face up. Try this instead. Crack one egg, remove the yolk and beat the egg white until frothy. Apply the egg white froth generously to face and neck and allow to set for at least twenty minutes. But don’t plan on trying to move your face or eating for a bit! After a few moments, you’ll immediately start to feel the ‘tightening’ effects. Lightly rinse with tepid water when finished.

Trying to lose weight but battling an irresistible sweet tooth? Consider jelly beans for a light calorie snack. Fresh fruit like strawberries and blueberries are an even sweeter alternative. Go ahead and mush some on your face while you’re at it (the fruit, not the jelly beans!)

To combat puffy swollen eyes, cucumber slices are the oldest beauty trick in the book. Don’t have any on hand? Try some of these other remedies instead. The potassium in raw potato slices works wonders for sore achy eyes and dark circles. Still stuck for a quick solution? Put two large spoons in the freezer for twenty minutes. Lay down, gently press the backs of the spoon to your eyes and say, “ahhhh”.  Hold for at least ten minutes to ‘wake up’ tired peepers.

Need a good conditioning solution for dry, brittle hair? Mix one egg, a tablespoon of honey and a tablespoon of olive oil and apply to wet hair. Cover with a shower cap and let sit for at least an hour before rinsing.

For a quick alternative to hairspray, dissolve a tablespoon of sugar in hot water in a spray bottle and wait for it to cool.

Dandruff can be stubborn and persistent, and dry itchy scalps are no fun. Soak scalp in Apple Cider Vinegar with Mother a few times a week as mentioned above. Add a large handful of crushed aspirin tablets to your favorite bottle of shampoo to further combat flakes.

For blemishes on face, try the famous aspirin mask. The acetylsalicylic acid in aspirin is excellent for oily, acne-prone skin. Dissolve three to five uncoated aspirin in water and apply to red areas and blemishes. Allow aspirin to penetrate facial pores at least twenty minutes before rinsing.

For a quick boost, bend over at the waist (pretend like you’re pulling your head toward your knees, but allow your head and arms to just dangle) and hold the position for at least 30 seconds. This will not only invigorate your entire body, but your complexion will also get a rosy boost as well. If you’re somewhere where you’ll look absolutely ridiculous doing this, take off your shoes and gently roll a plastic water bottle back and forth under the arch of your foot for another revitalizing effect.

For a nasty red pimple, apply a bit of Visine to a cotton swab and hold the swab on your blemish for twenty seconds.

Eat a snippet of parsley for instant fresh and kissable breath.

Traveling, but suffer from a weak stomach? Eat candied ginger or peppermint to instantly soothe an unsettled tummy.

Shave your bikini line using Neosporin (an insider trick of lingerie models and porn stars) for a smooth, soothing shave and to eliminate redness, irritation and bumpiness.

Buy Vitamin E and Vitamin A capsules from your local health food store. Prick open and apply to your favorite inexpensive moisturizer for added lushness without the expensive price tag.

I routinely apply a dash of self-tanner to face and arms for that sun-kissed glow - and skip makeup all together! Fake Bake was a favorite of mine in the past, but it also darkened facial pores so I switched to Clarin’s Self-Tanning Bronzing Gel. Experiment a bit with different products to see what works best on your skin tone.

Build your own garden and you’ll have a majority of these beauty products right in your backyard. This year I spent less than $30 at the nursery for cucumbers, acorn squash, romaine and butter crunch lettuce, celery, broccoli, bell peppers, onions and tomatoes. My garden has flourished and I’ve saved a bundle on food shopping.

What are some of your unconventional beauty secrets?

 ~†~ Baby Steps Are Key ~†~ Your beauty is your own unique canvas. Do something every day to make an effort to pamper yourself. Be playful with new ideas in your beauty ritual and indulge every part of your skin. Never be afraid to recreate yourself.
=^..^=

† †

Featured Resources

Compare prices and read helpful product reviews to make smart buying easy through Ciao! - Price Comparison and Product Reviews for the savvy shopper.

The dirty little secret everyone in Washington knows - “We suffer from a fiscal cancer.”

David Walker, the nation’s top accountant and former comptroller general of the United States, is a highly respected public figure who has run the Government Accountability Office. (The GAO audits the government’s books and serves as the investigative arm of the U.S. Congress.) Below is a short clip taken during a candid interview with 60 Minutes last year, where Walker foreshadows an inevitable economic collapse if the United States government continues its present irresponsible fiscal policies.

(Oops, I had to remove the embedded video due to a coding issue with FireFox web browser. To view a clip of the video, click the link below)

The U.S. Economy Is Unsustainable

Is the United States scouring towards a financial brick wall at a precipitous speed? I wonder what proposed solutions Obama and McCain have stuffed up their sleeves for repaying our current $9 trillion national debt.

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A financial update. Oh baby, how far we’ve come

While rummaging through some older posts here on Broke-Ass, I stumbled across a lot of stuff I’d forgotten about. A post from last year showed how I’d gone from $0 in savings in January 2007 to $1,000 in savings four months later (see Surviving Paycheck to Paycheck? You Can Still Start Saving).

It was a huge milestone for me. For someone who had never adequately been able to hold onto money for very long, I began to realize I could achieve anything I really put my mind to. This included learning habits that would aid my search in finding that elusive concept known as financial freedom.

Yesterday I decided once again to review my progress. I tend to have a ‘do it and forget it’ approach, meaning every time I receive money, at least 20% is manually deducted and siphoned away into some form of savings. (And, well, basically forgotten.)  A little over a year since my last financial update post, I have hit another milestone. Actually I was quite shocked when I added everything together and realized …

… I now have approximately $6,000 stashed away in some form of savings.

I’d also managed to clear a sizable chunk off my debt as well. In fact, if I remain aggressive on paying off debt as a main priority, I’m now on course to being debt-free within twelve months at the very latest. And the thought of no debt lingering over my head is exhilarating!

So what’s next on the financial agenda?

Preserving wealth amidst inflation

Preserving wealth right now means uncovering creative ways to keep the inflation beast at bay and preventing this rabid little monster from devouring portions of savings.

If my savings account isn’t keeping pace with inflation, purchasing power is being diminished and I’m unfortunately becoming a financial loser. But isn’t putting a safety cushion of money into a savings account supposedly one of the ‘Golden Rules’ touted by financial advisors ad naseam for smart beginner investing?

Surprisingly I know many people who openly scoff at the interest rates attached to most savings accounts.  “But Jennifer,” they ask. “Why put money into the bank when I’m receiving such a pitiful return? With a tiny bit of effort, I can do so much better myself.”

So how are they doing it?

These folks say they recognize the importance of preserving their current wealth by always keeping a sharp eye out for opportunities. They’ve become experts in finding little niches that will help them keep pace with inflation (and possibly even net a profit in the process!) When federal interest rates start dropping is also when it’s crucial for savers to get their inventive juices flowing.

When the going gets tough, the tough get … creative!

Just to throw some quick questions at you - do you have a certain hobby that can be capitalized upon? Can current interests or skills be used as an asset for opening your own business? Do you enjoy collecting antiques or other collectibles or are you an avid coin collector and a fan of numismatics? Have you ever considered visiting estate or garage sales in your area for underpriced (unrealized) items?

The goal, they explain, is to invest your money in something that will inherently keep its value and thus (hopefully) rise with inflation. It also needs to be an area you’re knowledgeable about and feel comfortable enough to park money into it. For example, many investors enjoy precious metals, such as gold and silver, as a hedge against inflation. Once you dabble your toe into a certain area, you can even try accumulating a bit of ’interest’ in the process.

Here’s another example. I know quite a few who frequent both estate and garage sales and continually make a killing by arriving early and recognizing hidden treasures nestled among other junk. These treasure hunters are aware of the real value attached to many antiquities. They make handsome returns by buying low and selling high and have a lot of fun in the process. Consider becoming educated in a hobby or area of interest and you too may develop a niche and one day be a whiz in this type of ’horse trading’.

If I’ve learned anything from these pros, it’s this tidbit of advice. Start small and always keep cash on hand. You never know when an opportunity might present itself and you’ll want to be prepared to immediately pounce if it does.

Unfortunately the sobering fact is, it doesn’t matter how much I’ve saved if inflation continues chomping away on my hard-earned dollars. So now it’s time to get innovative and try to prod this irksome inflation beast back to its insidious lair.

~†~ Baby Steps Are Key  ~†~ When interest rates are down, savers truly suffer. Use the internet (which allows access to a potential worldwide customer base) and other skills to your advantage to discover your own creative ways to both accumulate and preserve wealth. 

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Also check out the Carnival of Personal Finance for many great submissions on financial topics. A huge thank you to Mrs. Micah for hosting this week’s edition.

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In The Current Turbulent Economy and Financial Sectors, What Gives?

I’ve become somewhat of a CNBC junkie lately, which has resulted in some pretty bizarre sleeping patterns. It’s not unusual to catch me propped up on my pillows at 4am, munching on some Cheerios and sneaking in an hour or two of ”Worldwide Exchange”. Month after month I’ve held my breath and cringed as the Federal Reserve continues to slash key interest rates. The suspense! The horror! And most gut wrenching of all - the sheer anticipation as the world frantically wonders what card Bennie Bernanke will extract from his magical hat of endless financial illusions next.

Inflation is becoming a growing whisper of concern even among the stoutest of mainstream media. Some professionals insist official data has been skewed and inflation is rapidly approaching the 5% mark or greater. Amidst economists bickering back and forth about the particularities of what constitutes a ‘global slowdown’, a ‘recession’, a ’stagflation’ or a zesty myriad of other terms, one thought continues to become astoundingly clear.

Prices are going up. And at current interest rates, my savings are getting royally screwed.

The Demise of Debt?

As a novice in the financial arena witnessing it all as I lay wrapped snug in my blankie (yes, I still have a blankie!), it’s been a hell of a ride so far. Certain financial markets are roaring to life while others cool themselves into near oblivion.  In these daunting financial waters, investors scramble to find their potential life rafts. Will history continue repeating itself? Is our mounting national debt and insatiable consumerist desires about to nip us in the rear as we struggle to deleverage ourselves?

Well, I do know one thing. If everyone stepped out of debt today, it would certainly cause a catastrophic economic collapse.  Our entire currency is based off debt, meaning that every dollar you hold in your hand entails someone else needing to be in even greater debt for that dollar amount you’ve just stuffed into your wallet to even exist. If everyone simultaneously paid off their loans and refused to take out new ones, the entire financial system as we know it would come to a grinding halt. Quite a pickle to be in, don’t you think?

Statistically it would be impossible for everyone to pay off their debts all at once anyway. When loans are made, the principle is zipped away to the wide expanse of the money pool (or total money supply). But we all know we’re not merely paying the principle amount back when we repay a loan - who can forget the exorbitant interest rates we shell out for the privilege of buying the latest shiny trinket with money we don’t have yet. So where does the interest money come from anyway? Well, it all comes from the same money pool - the one containing everyone’s initial principle. The one containing only the principle amount.

It’s a continuous game of musical chairs, folks, and this time the subprime mortgage borrowers didn’t grab a chair quick enough before the music stopped playing.

Those poor sods.

Debt Still Isn’t Kosher

With interest rates so low right now, it unfortunately doesn’t do me a lick of good stashing too much into a savings account. The wisest route will be to focus on aggressively tackling my debts. Unfortunately even if I didn’t have ANY debt, putting money into a savings account would be a losing proposition. So all remains quiet here and for the moment you can find me tucked into the wee hours watching the financial news and enjoying an early morning snack.

Just don’t expect me to peer underneath my bed. There may just be a big scary inflation monster peeking back at me.

~†~ Baby Steps Are Key ~†~  Money used to represent value. Now money represents debt - and debt is enslavement.

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Sayings of the Wise

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. -John Maynard Keynes

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. -Alan Greenspan

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Hey guys.

I just wanted to do a quick update. Obviously I’ve been away for awhile and have been feverishly absorbed in an investigative research project over the past eight month. As my research begins to wind down, I look forward to again concentrating on updating articles to this site. Lords knows, given the current state of our economy, there’s a wide array of financial material to cover. This site is probably due for a serious healthy overhaul as well.

I am amazed by all the readers who sent email over the past few months. Many of you have found yourselves in sticky financial situations and hounded relentlessly by debt collectors. I can personally say there is indeed hope - my own struggle with being sued over an invalidated credit card debt has given me invaluable insight and the experience turned out to be a blessing in disguise.

I hope everyone is enjoying the lovely spring weather as much as I am.

 =^..^=

Enjoying a dash of r&r

Well, I headed out of town to lose myself for a bit in the majestic Finger Lakes region of New York. There’s nothing quite like trekking through waterfalls and gorges to invigorate the spirit and clear my head. Now it’s time to absorb myself back into the grinding mentality of academic and regular work again.

During the next twelve weeks, I’ve decided to participate in an income tax preparation course. It’ll be interesting to see the knowledge I’ll glean from doing this (and will be sure to share any fruitful insights). At the very least the course will offer a solid basic understanding on filing income taxes, plus give me the added benefit of receiving an overview of how the entire system works.

If anyone has participated in an income tax preparation course, I’d love to hear your feedback and thoughts.

Later this week I’ll be exploring my financial progress. It’s also interesting to note that I still have not heard anything back regarding the lawsuit filed against me on an alleged credit card debt back in January.

(If you’re a new reader, you can catch up on that beauty of a tale at Broke-Ass Student Just Got A Whole Lot Broker).

All in all, I’m anticipating a peaceful autumn. But being a Western New Yorker, it’s only natural to begin bracing for the upcoming snowfall. We get pounded with at least one or two whopper blizzards each winter.

Western New York will also soon be celebrating the anniversary of a freak thunder-ice storm which clobbered us last year on (ironically enough) Friday, October 13th. The devastating thunder-ice storm downed tons of power lines and tree branches all across the region, leaving as many as 400,000 residents without electricity. The storm, also lovingly coined “Arborgeddon”, dumped up to two feet of snow and brought down many of our beautiful trees. Over 90% of this region’s trees were bruised in some fashion.

Oh, and yesterday for about ten minutes I could have sworn a monsoon blew through the city. I was driving home from class when a lightning storm began dropping hail balls and wind gusts of over 60 mph.

Ahh, to be home again.

 =^..^=

Developing a More Conscious Lifestyle

During the chaotic nature of life, it’s easy to become distracted and engulfed in day-to-day affairs. Every once in a while I feel a need to suspend all the buzz swirling around me and find a private sanctuary to curl up in for quiet contemplation.

Finances may feel important, but over obsessing about money is unbalanced and certainly not healthy. Whenever I feel overwhelmed in general, the following guidelines serve as gentle reminders which help bring things into greater perspective for me.

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• Don’t only do what is convenient. Learn how to make a deeper commitment and take a more radical responsibility for yourself. Build integrity by exercising the values and ethics which are important to you.

• Recognize the Divine in others through practicing respect and love. Although everyone has their own needs, each are different but equal.

• During conflict, don’t be limited only to your needs. Step outside yourself to consider the needs of others in a more compassionate manner. This helps manifest a positive solution for all concerned.

• Eliminate manipulation through demands, threats and passive-aggressive behavior. Only take from others what they are willing to give freely, and accept others for who they are.

• Let go of Ego and practice simply being in each moment. Rather than trying to exert control over circumstances, learn instead how to become present.

• Healing begins from within. Treat your body well through exercise and a well-balanced diet rich in grains, fruits and vegetables. Drink plenty of water each day, the rich honey of life.

• Volunteer your time. Use your creativity and energy to motivate and help causes which are important to you.

• Recognize that everything has a limit; the day, the night, even one’s own energy and time. No matter how great one’s perceived wealth, there always exists an extent to which one may enjoy it. Feel grateful for and humbled by your current unique blessings.

• Ever catch yourself saying, “I just don’t have time” or “I wish I had time to”? Take responsibility by recognizing that everyone has the same amount of time in each day and ultimately you decide how that time is used. Choose productively and wisely how you wish to dedicate each precious moment.

• Incorporate a quiet meditative practice into your daily routine. Prolonged meditation sharpens focus and enables you to think well, while awakening new levels of the Divine Self. Recent empirical studies are now recognizing how continued meditation physically enlarges and alters our brain.

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Recommended Reading:

The Harvard Gazette, Meditation Found to Increase Brain Size

The Washington Post, Meditation Gives Brain A Charge

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• Take the time to properly honor all the small steps leading up to where you want to be. Don’t miss the beauty of the journey, as each step is equally fulfilling and significant.

• Experience temporary sensory deprivation. Try fasting, taking an hour long vow of silence, or wearing a blindfold or earplugs for an extended period of time. This will enhance awareness of both body and breath, bring perspective and allow you to develop a deeper appreciation for each sensory organ.

• Change is inevitable and everything is constantly influx. Use this wisdom to react less to personal inner dramas and focus more on acceptance and being present.

• Instead of dismissing or burying negative emotion, become aware of fear, worry and discomfort to fully observe and experience it. This helps bring perspective and heightened awareness as you begin to understand the root causes of these emotions.

• Obtaining financial peace of mind means allowing your wealth to absorb unexpected expenses. Obsessing and fretting over financial situations which do not directly affect day-to-day situations sabotages this entire concept. As Marshall Glickman states in his book The Mindful Money Guide, “Getting into a tizzy about a small misfortune undermines the whole point of having any fortune [at all].”

• Take action. Don’t feel discouraged if progress feels slow. Just as a toddler learns how to walk one step at a time, it’s taking that baby step which is most crucial.

~†~ Baby Steps Are Key ~†~ Explore your unique purpose in life and discover what fills your heart with joy. There is never a better time to live fully and with integrity than right now.

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Sayings of the Wise

Drip by drip, a cup gets filled. -Unknown

“Begin doing what you want to do now. We are not living in eternity. We have only this moment, sparkling like a star in our hand - and melting like a snowflake…”
(Francis Bacon, 1561 – 1626)

“The most effective way to do it, is to do it.” -Amelia Earhart

The Master once offered a banana to an awestruck visitor who so venerated the gift that he hardly knew what to do with it. When the Master was told of this, he said characteristically, “Tell the silly ass to eat it.”

-Awakening, Conversations with the Masters by Anthony de Mello

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Featured Resources 

Compare prices and read helpful product reviews to make smart buying easy through Ciao! - Price Comparison and Product Reviews for the savvy shopper.

Here are current rates of some online savings accounts, as of August 15, 2007.

iGObanking 5.30% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

E*Trade 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

EmigrantDirect 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

HSBC Direct 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded monthly)

ING Direct 4.50 % APY ($1 to open, no minimum, no fees, FDIC insured, compounded monthly)

iGObanking still remains the top contender in terms of a low minimum of $1 to open, with no annual fees attached and an excellent high yield. I opened my first online savings account with iGObanking six months ago and have had a very positive experience overall. (You can click on these article titles to read more about my experiences with iGObanking.)

Battling Against the Risk of Inflation

All the above mentioned online accounts are attractive options for savings due to one inescapable factor eroding the value of our hard-earned dollar - inflation. US economic growth, on average, battles roughly a 3% inflation rate every year.

A wise investor knows they must seek out investments which will keep pace with continued inflation, or their money will lose essential purchasing power as the cost of living continues to increase.

If your savings are stashed at a traditional bank earning 1% APY or lower, the money is unfortunately losing value every year. And if your savings are tucked in an investment vehicle earning roughly 3% APY, you are just barely breaking even.

Consider this sobering example of inflation.

If $1 was invested in stocks at the end of 1925, your $1 initial investment would be worth $98.37 at the end of 1994, after inflation adjustment. However, if you had tucked that same $1 in your undies drawer instead of investing it, that $1 would be worth roughly 12 cents by 1994. (”A Guide to Growth Investing,” Ibbotson Associates, 1994 yearbook). 

Brett Machtig offers another example of the corrosive effects of inflation in his book Wealth In A Decade:

In 1965, on one of his annual trips to Las Vegas, a gambler named Jay won $25,000 after taxes at a casino. Just for reference, Jay could have purchased a modest home for that sum in 1965. Instead, he put the money in a safe deposit box, where it remains today. While the money has been gathering dust, the effect of inflation has made the money worth less than $7,000 in today’s dollars. If, on the other hand, he had invested the money in a tax deferred annuity at 8 percent, it would have been worth more than $270,000 by 1997  - ($76,000 adjusted for inflation) - about 11 times as much (assuming a 4 percent rate of inflation).

~†~ Baby Steps Are Key ~†~ When contemplating investment options, always consider the impact of inflation and the effects of your purchasing power over time

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Sayings of the Wise

“The wise man saves for the future, but the foolish man spends whatever he gets.” Proverbs 21:20

“Invest in inflation. It’s the only thing that’s going up.” Will Rogers

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