With only 24 days left until Christmas it still seems as if companies are fighting harder than ever for our holiday business. Macy’s is sending out extra coupons, Kohl’s is offering 25% off everything in the store; even small second-hand stores are holding “special” promotional offers.  But are you savvy in taking advantage of their deals or are you really paying close to full price on these items?

This year I participated in Black Thursday for the first time.  Like a vicious hungry tiger pounces on an injured gazelle, I can regretfully say that I saw consumers snagging merchandise up like it was prey.  Deals seemed too good to be true that there were multiple individuals with shopping carts full to the rim. Three plasma televisions, twelve packs of socks, sixteen flannel shirts, two Dyson vacuums and plenty of other small items. Extreme shock made me put down my basket to investigate whether or not these deals were as good as they seemed. I rushed to a random display of unnecessary knick knacks (with rush and excitement) and sure enough I had followers. All I had to do was display the slightest bit of enthusiasm and before I knew it every item was in another person’s cart.

Just because there was a glittery sale price, another person wanted it and it was Black Thursday, for some reason it justified purchasing everything in sight. Be wary though, huge discounts can often be a result of companies marking up products, above their normal sale price, and then slashing the price for the holiday season. So even though you think you are getting 60% off that special item, because of high markups you may be paying close to full price and not even know it.

When venturing out these next 24 days I caution to you look at price tags and realistically ask yourself if that item is worth the price after the discount.

College is extremely expensive, and it is getting more expensive every semester. Students forget to take into account the costs of college that go beyond tuition and room and board.  Many enter college unaware of the exorbitantly high price of textbooks. The cost of textbooks can easily surpass $200, and many courses require more than one per semester (or quarter). During my first semester I spent over $600 on textbooks for 5 courses, of which only 1 was also required for the following semester. The college bookstore told me I shouldn’t worry too much and I could trade them in at the end of the semester.  I took their advice and turned in my $100+ books for no more than $40. I was frustrated, to say the least.

In recent years many other options have become popular including buying used and renting textbooks. At the beginning of my second semester my friend suggested buying books on eBay for a quarter of the price. After looking into it I realized I could save an enormous amount of money and get the same book. I also realized I could then sell the books back to the school or online at the end of the semester for what I paid, or sometimes even more. Many students are also opting to rent their texts books from various text rental websites. This is a very convenient option. There is no need to decide what to do with the books when you are done, just simply slap on a prepaid mail label and mail the book back. Prices are about comparable to buying used but the condition is usually better and shipping is usually paid both ways.

However you decide to buy books next semester, remember there are options to save you money and not add as much to the, already, massive college cost.

My name is Marcus Lathan and I am the new Program Coordinator here at Financial Beginnings. Everyone needs money and everyone uses money, but no one is educated on how to manage their money. Financial Beginnings is a great organization that does precisely that. Now, more than ever, our youth need to understand how to manage their money. I was fortunate enough to have completed college debt free with the help of my family, scholarships and a part-time job. For the majority of college graduates this is not the case. School loan debt now exceeds credit card debt in the nation, and society is beginning to think these debts are just a normal part of life. Education on the correct management of money is the key that opens the door to a  successful and debt-free life.

For the past three years I have been working retail at a Portland Best Buy store and worked several various retail and construction jobs prior to that. I am also a model and work on various television shows, fashion events, as well as video and photo shoots in the Portland area. In my spare time I play basketball and soccer in recreational leagues in Portland and Vancouver. This past spring I received my B.A. in Finance from Washington State University as well as a Professional Sales Certificate. I look forward to helping Financial Beginnings continue to thrive and educate.

I stumbled across an article called “31 Steps to a Financial Tuneup” (http://www.nytimes.com/interactive/2010/03/24/your-money/financial-tuneup-checklist.html) and I found it very interesting that many of the steps listed I had never made time for, even though I should. They are simple to-do items that really can pay off for you if you do them right. Some include:

–          Putting more of your paycheck away to savings

–          Increasing your student loan payment, if you are able to

–          Cash in your rewards from credit cards

–          Spend your gift cards

Although, we get caught up in the hustle and bustle of life we should never neglect our personal finances, as little adjustments can really make all the difference.  What I particularly like about this article is that it not only tells you that you should do it but it explains why it’s important and lists additional resources for where you can find more information on the matter.  In one section the author suggests that every person should put away 1% more of their paycheck, as it can add up to thousands over the long run (the power of interest!).  This is something that I think about all the time, yet I never make arrangements for it to happen. When we don’t see something usually we won’t miss it so what really is 1 or 2%?? There are a lot of these items throughout the list that really make you think “Wow, I can do that!”

What I found most interesting is that most of these “to-do” items take not even an hour! Yes, some of them are very generous on time, such as shopping for new home and auto policies only taking two hours but for the most part they seem pretty accurate on timing. Also, a lot of these things don’t really apply to me (yet) so my checklist would be even shorter than 31 items.

I encourage everyone to take a look at this article. Hopefully, it sparks some interest on how you can make little steps to improve your finances! Also, as we all know there are more than 31 steps needed to tune-up your finances – do you think an important step is missing? If so, what is it?