I hope all of you had an awesome weekend – I know I definitely did! I’d say it was one of the best weekends I’ve had in months. School was finally over for me and my friends and hanging out was long overdue. That got me thinking about how much has changed in a year. I graduated high school a little over 1 year ago, but it feels like a lifetime ago. Here’s what I wish I had known:

1 – School is always more expensive than you think it is. Books and other school supplies will add up to more than you thought. You’ll get a $50 parking ticket at least once. People living in dorms will spend more on decorating and other supplies than they planned. Take whatever number you think you’ll spend on school for the year and add 20% to it just to be safe.

2 – Friends from high school will exit your life. Some will stay, but many will leave. And that’s OK. You’ll make new friends at school or work. In my case, I’ve gotten to know high school acquaintances better than I ever did when we were actually in school. I never expected that to happen, but it did.

3 – Making money is great, but no amount if worth working your life away for. I enjoyed working at the Census Bureau last summer. Working like an adult for the first time in my life was an important experience. But I paid a price – I barely saw my friends and family. I’ve been out of school for 4 days now and I’ve already spent more time with them than I did all last summer. If you have to take on a bit more student loan debt in order to maintain your friendships, do it!

4 – Do. Your. Reading. In. College. First quarter, I hated my European History class. I thought that meant I didn’t have to try. I also still expected an A. I got a C. I had only read 2 of the 15 chapters that were assigned.

5 – Trying new things is almost always a good idea. After exams, me and a few friends from school went to a club. I’m not really into the whole night club thing, but I went. I almost didn’t go, but decided that I needed to push my comfort zone. I had a great time.

I’m in my second week of being a freshman all over again and I’ve already felt overwhelmed at times. There’s a ton of new information. Every course has it’s own syllabus. Assignments need completed without any reminder from a professor. It’s a lot to take in and I wouldn’t be able to handle it as effectively as I’ve been able to without some free tools.

Evernote – This makes note taking fun. Just kidding, note taking isn’t fun. But this is a really cool application. There’s a desktop program that I use during class to actually take notes. But the real power of Evernote is that everything you type into it is automatically synced to Evernote’s servers. This means you can access your notes anywhere you have an Internet connection. They also have an iPhone/iPod touch application.

Power user tip – Scan in every syllabus as a PDF file and you’ll always have course info at your fingertips.

Google Calendar – This is what I look at before I go to bed and when I wake up in the morning. It can take a bit of time to get everything setup the way you want, but it’s worth it. I use it to keep track of anything that has a definite date/time attached to it. Example: I enter in all my major assignments: tests, quizzes, midterms, finals, projects. I also use Gcal to handle any appointments: dentist, adviser meeting, job interview, etc.

Power user tip – Create multiple calendars to help organize your schedule. I have one for every class I’m taking this quarter. All that information can get overwhelming at times, so I simply hide each course calendar that I’m not interested in at the moment.

Remember the Milk – Incredibly powerful, Remember the Milk is the best to-do list manager I’ve used. There is a small learning curve, but there’s really nothing it can’t handle. No more forgotten homework!

Power user tip – Learn to LOVE tags. For example, tag the task “chapter 13 HW” with “MTH129″. Then, you can create a smart list that shows only what you need to do for your math class.

Gmail – Stop using your college’s email system. There’s a 99% chance it’s horrible. Forward your .edu email to your personal Gmail account and you’ll never have to worry about 2 separate email logins.

Power user tip – Click “Settings” > Accounts > click “add another email address you use”. This will allow you to send mail FROM your .edu address from within Gmail. Otherwise, if you reply to a professor or whoever, it’ll come from your personal address. We don’t want that.

Pandora- Everyone is different, but I hate working on assignments in silence. Pandora is free Internet radio that allows you to make your own radio station – combine different artists or songs to create a good mix.

Power user tip – Pay $36 a year for unlimited streaming.

All of these applications are great and can really change the way you approach not just how you organize school, but your entire life. Figuring out a “system” that just works is a great stress reliever and lets you focus on doing instead of remembering

(don’t) cry on Flickr! by Pedro Klien

Am I only one with a friend who’s overly negative and complains all the time about money? I’m guessing not, but I’ll still share my own “friend-who-bitches-about-money-and-work” story.

I’ve mentioned that I scored a job this summer at the Census Bureau. We can’t move forward until you mail it back,™ by the way. Well Uncle Sam is kind enough to pay me $10/hr for my time. That’s a great rate for someone right out of high school and looking to have some fun this summer and save some cash for college in the fall. Most adults I talk to are impressed that I landed this job. Most of my friends are surprised how much I’m making and how many hours I’m working (35-40).

Yet, there’s one friend of mine who can make me feel like crap about my job. He says all the time how lucky I was to get it. Then he complains how it’s not fair that he only makes $5.50 at his job and gets few hours. Finally, he reminds me how lucky I am – again.

The whole situation annoys me and I hate discussing anything work or money related with this person. While luck and chance do play a part in all of our lives, it’s ignorant to think that I only got the job because I was lucky. I found the Census Bureau’s website and spent a good hour reading over the materials they had. I located my local office’s phone number and street address. I called and scheduled a placement test. I called back a month later to see where I stood.

I did things. No, they weren’t super hard or anything to brag about, but I did them. And if there’s one thing I’ve learned growing up it’s that so much of making life and money work for you is simply doing things. Small things, but things. You have to put some effort out! It was a process and that is why I’m now earning $300 a week and my financial picture has never looked better.

Then there’s the whole issue that my friend only makes $5.50 and “it’s not fair”. Honestly, I want to tell him boo hoo. He didn’t have to take the job in the first place. He could have easily applied at a bigger retailer that pays minimum wage. $5.50 sucks, I won’t deny that. But it’s better than nothing and beggars can’t be choosers.

It frustrates me when people act like the Man is out to get them – especially when the person just graduated high school and has every opportunity in the world to do something great.

Do you know anybody who complains about their situation without doing anything to change it? Is the Man really out to get some people?

I, like many other recent graduates, have received cash gifts from relatives and friends. I even wrote a post with ideas of what graduates could use the money for. While I was writing that article however, I started to wonder if there are any “rules” on what monetary gifts should be spent on. Are there ethics involved when you’ve been given money for a specific event, such as a graduation or wedding?

I simply wonder if there’s anything I’m not allowed to spend that money on. Is it OK if I spend it on a road trip with friends? Can I buy an iPod?

The lines can get blurred even further when you look at different types of the same product. Case in point: a laptop. These days it’s borderline essential for college students to own a computer. Am I “allowed” to buy a Macbook Pro? It’s a $1,700 computer. Yes, $1,700! Does the answer change if I’m a huge computer nerd and have wanted a laptop from Apple for years? My father would say no. But he’s not a computer guy. You could easily get him to spend 3 times as much on a new lawn mower, but technology isn’t a priority.

Another interesting thing is that even a smart financial decision (according to me), like saving all of it or investing it, could be considered a bad move by friends and relatives. They could easily tell me to live it up and spend money on something fun.

Perhaps I’m forgetting the most obvious expense: tuition and books. Do I have a responsibly to the gift givers to only use their generosity towards my higher education?

It’d be easy for me to say that once they wrote the check, I’m free to do what I want with it. After all, it’s now my money. But that seems cold and not very appreciative. All of these people obviously care about me and I wouldn’t want any of them to feel like I blew it.

For now, I’m 99% sure I’ll be using at least part of the money to purchase a laptop. Which one remains undecided. The 15-inch Macbook Pro is awesome, there’s no doubt about that. But it’s also true that an $800 mid-range model would still allow me to get all my assignments done.

What are your thoughts? What are your “rules” when it comes to gifts? What did you buy when you graduated?

At this point in the year, thousands of students are graduating from high school. Many of these students will receive a decent amount of money as gifts at their graduation party. But once the party’s over and done with, what should be done with the money?

1 – Save It

Start an emergency fund with your gift money. No, this isn’t exciting, but it helps form the foundation of good personal finance. If the thought of simply keeping all that money in savings account hurts too much, consider splitting it 50/50 so you save some and spend some.

2 – College Books

Text books are a huge expense for most students. Using your money on these can help take out the sting of education costs.

3 – Laptop

Most, if not all, college students would be well served to have their own laptop. Note taking, communicating, and entertainment will all be extremely easy with a notebook computer. By using your cash on this, you can avoid the temptation to start accruing credit card debt.

4 – Roth IRA

The best time to start a Roth IRA is now, when you’re as young as possible. For this to work however, you must make sure you earn income in 2010 and prove it by filing a tax return. You can’t contribute more than what you made in earned income.

5 – Go on a Trip

Maybe after you receive your gifts, you feel it’s feasible to go on a road trip with a group of friends. You’ll make great memories while also having the spending cash necessary to make it feel like a true vacation.

Graduation season is in full swing and that means one thing: parties. Lots of them! Since getting gifts is the most important part of graduation (kidding!), here are a few ideas to help you decide what to get for the grad in your life.

1 – Cash

Cash is awesome. It’s flexible and you don’t have to worry about the graduate not liking it. Of course, the receiver could use it to buy hookers and blow. Not that it matters, right? Once you write the check, your money is gone regardless of what is purchased.

2 – Trip

Send your grad on a road trip across the country or on an adventure across the globe. This is no doubt a pricey gift, but it’ll also be unforgettable.

3 – Laptop

It’s 2010 and pretty much everybody needs to own a computer. College students will definitely need one for writing papers and taking the edge off during exam time by watching funny YouTube videos. I’d love a MacBook Pro, so if you’re feeling generous, email me and I’ll give you my mailing address. No stalkers welcome.

4 – Book

If you’d like to gift a grad something a bit more personal than cash (or in addition to…), try a book such as The Naked Roommate or the classic Oh, the Places You’ll Go! Don’t forget to write some words of encouragement or a great memory you have on the inside!

A personal finance book could also be a good idea. I might be a bit biased, but many graduates would be well served by this gift. Of course, it may not be read for a few years, but it’ll come in handy when it is. This probably isn’t the time to get all gazelle like intense on them with a copy of The Total Money Makeover. But something a bit more focused on the basics should do the trick. Check out Your Money: The Missing Manual or I Will Teach You To Be Rich.

5 – Gift Card

Graduates need stuff. A gift card to Wal-Mart or Target will help provide dorm room furnishings and supplies. 10 to 5 on an iTunes card would also be appreciated, assuming the recipient has an iPod.

6 – Luggage Set

Whether a graduate is moving to a dorm room or across the globe (on the trip you sent them on of course), he’s going a place for his things. A nice, study, piece or two of luggage will still be used years after the graduation ceremony is over.

7 – Digital Camera

After graduating high school, tons of memories will be made. Allow for those memories to be recorded by gifting a digital camera. Here’s a compact Sony model that won’t break the bank

That’s all of ‘em! If you’re an older graduate, what were some of your favorite gifts? If you’re still in high school (or college), what do you hope to receive?

High school is a great opportunity that shouldn’t be wasted. Here are some ways to make the most of it and put yourself in a great position upon graduation.

1 – Work Hard
Don’t work on school nonstop, but get good grades. Really learn how to study and figure out what works for you. There’s not going to be a lot of hand holding in college and the really successful people in this world motivate themselves. Better grades = options.

2 – Participate
Put yourself out there. Join a sports team or student council. Most of the awesome memories I have from high school are the result of my running on the cross country and track team. Figure out what type of activities you really enjoy doing by checking out different teams, groups, and clubs.

3 – Get a job or start a business
Gaining employment is a great way to enhance the high school experience. There’s no doubt that having a social life costs money. Plus, with an income, you can start putting your money to work by saving for college and retirement. If you aren’t interested in having a typical retail job, try working for yourself. Most of us have a skill or two. Put ‘em to work. Try tutoring, computer repair, or giving instrument lessons.

4 – Save money
I haven’t done much of this. It’s also not something I suggest. I started my first real job during the summer after my sophomore year and blew all of my money. Do not do what I did. I could be in a much better position than I am right now if I had just saved 10-25% of every paycheck. Many seniors could have a savings account balance of few thousand by graduation if they consistently save throughout school

5 – Don’t let anything hold you back
Do not make any permanent decisions in high school. Don’t tell yourself “I can’t go to college because my parents are broke.” The trap of “I can’t because…” is extremely dangerous. Why can’t you travel the world? Why can’t you get a job you love? Never settle and never let high school experiences dictate your life.

6 – Commit yourself to a life free from consumer debt
Before you can even open a credit card account by yourself, make a vow to never carry any debt on it. This much easier to do before the card is burning a hole in your wallet. Promising yourself before you apply for a card will make it harder to break.

7 – Make connections with a few teachers
No one will like all of their teachers, but you should try to become close with a few. Developing a professional relationship over the years will help out a lot when it’s time for recommendation letters. Plus, you’ll have an older adult you can go to when you need some non-biased advice.

8 – Take AP courses
If your grades are up to par, look into taking advanced placement courses. You’ll have the opportunity at the end of the year to take an exam and earn college credit. This can help shave hundreds, if not thousands, of dollars off of college tuition.

9 – Think about life after high school
You don’t have to know 100% what you want to do, but at least give it some thought. Of course, it’s probably going to change a million times, but you can set some goals to achieve – until you decide to change them.

10 – Have fun
Don’t stay home alone every Saturday night doing calculus homework. Go out and have fun. On the flip side, don’t have too much fun. Failing grades aren’t going to start your future off on a positive note.

Here are some tips to help you stay in the poor house:

1. Play the lottery. You’re 18 now and somebody has to win, right? It could be you! Except it won’t…

2. Buy the most expensive class ring possible. The more diamonds, the better. After all, high school experiences are measured in dollar signs. $$$

3. Borrow as much money as the bank will let you for college. After all, what’s life without a 6 figure education?

4. Spend obscene amounts on booze and going out with friends, courtesy of the private student loans you took out. Life is supposed to be fun, right?

5. Drop out out college halfway through. That way, you have debt and no degree.

6. Make sure that saving money is the last “bill” you pay every month.

7. Put off learning about personal finance because you’re too young.

8. Promise that your future self, the one who’s making a fortune, will pay off any credit card debt.

9. When you’re driving to school, speed as much as possible so you have some tickets to pay in addition to all your other expenses.

10. Buy a new $60 Xbox 360 game a few times a month. Complain you don’t have any money for school.

Besides the debate over whether or not children should be paid for chores, another question many parents ask themselves is whether or not their high school student should have a job while also participating in a sport. I’ll present both “sides” of the issue, along with my own personal opinion.

Yes, They Should

Participating in sporting events doesn’t mean a teenager can’t work. There’s plenty of time in the day to do both. Furthermore, balancing two separate schedules teaches responsibility and provides a taste of adult life.

Some school districts have a “pay-to-play fee” and parents shouldn’t necessarily be on the hook by default. If a student wants to play a sport, they should be responsible for the associated costs. Working is a way to pay these expenses. Furthermore, some teens honestly have to work to put gas in the car or to pay for typical high school events like prom.

No, They Should Not

High school is a time to have fun and enjoy life. There will be plenty of time to work when you’re an adult. Sports command a lot of time and it isn’t fair to sacrifice time practicing in order to work. Students need time to study and complete homework. It can be hard, if not impossible, to squeeze in academic tasks when practices and shifts are required to be completed.

My Take

I don’t have any problems with high school students working and playing a sport, if they can handle the pressure and time committment that goes along with them. Sports and work shouldn’t overtake school. Most students could probably work 10-20 hours a week without sacrificing their grades, but others cannot.

I think the biggest problem is you can end up with kids who spread themselves way too thin. I’ve been a member of my school’s cross country team since the 7th grade and I honestly don’t think I could have added a part-time job into the mix during the season. Practice was held every weekday from 2:30-4:30. I wouldn’t get home until 5. The earliest I could have been at work was 6. That kind of tight scheduling would not have been good for my grades (or body).

If you can avoid that problem, then by all means, start working. Even better, get a job with an employer that will allow you to take a leave of absence for the few months your sport is in season. Then, after your sport is over, you can head back to work. Obviously, this is easier said than done, but it’s still a great option if you can find it.

This coming week, I’m looking forward to my high school being on a two hour delay schedule. The sophomores have to take the the Ohio Graduation Test, but those who have already taken it (me) get to go into class two hours later! It’s awesome to be able to sleep in for an entire week. Now, if only graduation would get here a little sooner…

Here are my favorite finance articles from the past week or so:

The Most Important Conversation I’ve Had About My Business Ever. This post shows the importance of separating work from your personal life. While the specific solution listed probably isn’t feasible for most young people, alternatives do exist. For example, you could setup a specific room in your house that you only use for homework.

Resisting the Time Suck. I find myself dealing with a lot of these right now. I’m checking my blog traffic a minimum of 20 times a day. It’s getting ridiculous. I’m going to have to really buckle down and simply STOP wasting time on Facebook and watching YouTube videos.

Where Do You Want to Be In Five Years? How Do You Get There? is a great post to inspire you to get off you ass and get stuff done. I honestly have a hard time imagining my life in 5 years. The difference between 18 and 23 has got to be huge! In 5 years, I plan to have a bachelor’s degree and living by myself (or with a lucky lady…). Beyond that? I’m taking it one day at a time.

Why Parent’s Shouldn’t Pay For Their Kids’ College Education looks at the reasons why kids should finance their own schooling. I agree. Personally, I wouldn’t feel like an adult if my parents were footing the entire bill.

Financial Do-Overs is a well worded reminder that adult life isn’t quite as mistake proof as kid life. Decisions carry consequences.