I always knew that I bought into the American consumerist lifestyle, but I didn’t realize how bad it was until I had to actually transport all my junk across the state.

However, I soon realized that I could turn a pretty profit on all my unwanted stuff thanks to an explosion in online marketplaces, Here’s a list of my favorite sites:

Gazelle: Easiest way to recycle or get cash for your unwanted electronics.  They buy everything from cell phones to projectors to LCD monitors.  Click here for a quick demo on how this site works.

eBay: One of the best known and frequently-used places to sell your unwanted stuff.  I’ve had a lot of success with this site selling older electronics and “designer goods” (such as that Burberry headband I just had to have in high school).

Freecycle: The purpose of this grassroots, online marketplace is to keep your unwanted item out of the landfill by recycling it or giving it to someone who can find a good home for it.  Search for your local group to start the process!

Craigslist: Simply a giant, online collection of classifieds.  Posting a picture of your item always helps with bringing in more interested buyers.

Facebook Marketplace: An easy and convenient place to sell a myriad of items.  Very similar to Craigslist.

Plastic Jungle:  Type in your giftcard merchant and amount, and voila, you’re presented with a number of offers either in cash or an Amazon giftcard.  I just sold an unused $50 giftcard to PF Changes for $40!

Zilok: Rent out your car, power tool, camera, or any other good imaginable to other users.  Renting your items can free up space in your home and give you a greater return on your investment.

Or, you could always give yourself some karma points by donating your unwanted items to places like Goodwill and Salvation Army.  Oftentimes they’ll come and pick up your stuff, making it a low-effort kind of charity.

Got any other great online marketplace sites?  Tell us about them in the comments section!

Even though the government is providing tax credits for purchasing certain Energy Star appliances, and the Department of Energy and EPA are planning on “cracking down” on energy efficient standards, what should you do in the meantime?

In order to keep your monthly utilities bill at a minimum, I would recommend making a small investment in an electricity usage monitor.  With such a device, you can simply plug it into an outlet and figure out how many kilowatts per hour each of your appliances uses.  Then punch in the kilowatt per hour cost, and voila!  You can calculate your energy expenses by the day, week, month, or year.

It’s kind of like reading the nutritional information for  a double cheeseburger.  Once you truly know what you’re consuming, chances are you’ll be engaging in some behavior modification.

You’ll start to realize how much every little bit counts when it comes to energy efficiency.  This is especially true when it comes to vampire power, or appliances that are plugged in but aren’t being used.  A few old lamps around the house could be costing you more than you think.

You can find these helpful devices for as low as 20 bucks, making the small investment definitely worthwhile in the long run.

What do you think about this story?  Tell us in the comments section!

Here are some of the survey’s findings:

37% are unemployed, but close to 90% say they have enough money or are close to meeting their long-term financial goals

In 2006, half of Gen Yers were employed.  Three years later, only 40% said they were working in a full-time job.

Only 31% said they earn enough money to live the life they want, but 88% believe they will make enough money in the future.

More than a third of respondents said they rely on their parents for financial support.

13% of 22 to 29 year olds moved back in with their parents because of the recession.

55% stated they are watching their spending “very closely” because of the recession.

77% are concerned they aren’t saving enough.

So it seems that even facing the “great recession,” Millenials are more positive and optimistic about their financial future than their elders.  In an overview of the study, the researchers described this demographic in five characteristics: “confident, self-expressive, liberal, upbeat, and open to change.”  This definitely seems to fit the mold.

However, what is alarming is that more than two-thirds feel that they aren’t saving enough.  And that employment rates for Millenials dropped 10% in three years.  Having a healthy dose of optimism is important, but so is facing reality. Gen Yers are already dealing with student loans and credit card debt, and adding the economic recession into that mix could lead to consequential long-term effects.

If any Gen Yers are reading this, I would highly recommend to check out Ashley’s “frugal student” blog posts.  She’s provided some great tips for people our age, like this one on how to create and stick to a budget, or this one on how to shrink your cell phone bill.

What do you think about this story?  Tell us in the comments section!

As a recent grad looking to enter the job market, this news looked promising to me.  That is, until I read this story about employers running credit checks on potential employees.

According to a 2009 survey by the Society for Human Resource Management, approximately 60 percent of employers admitted to conducting credit checks on job applicants.

This news was pretty shocking to me, to say the least.  I had already been warned about employers searching for me on Facebook, or at least conducting a background check.  That type of research seemed reasonable to me.  But a credit check?  I’m not quite sure how I feel about this new trend.

This news is especially daunting for those that have struggled in the past few years.  What if you were laid off in the last year, and have racked up credit card debt trying to support yourself or your family? Does this constitute a potential block from a new job?

What the survey can’t explain is how much employers weigh the credit checks against applicants.  Some may take a bad credit score more seriously than others, but there’s no real way to determine that.

So what’s the moral of the story?  It’s always important to maintain a good credit score, and this new trend just adds an extra incentive.  If you don’t know what your credit score is, check annualcreditreport.com for a free report and go from there.  And if you haven’t already, check out our post about the best credit cards for building or rebuilding your score.

What do you think about this story?  Tell us in the comments section!

Picnic Lunch — Gather together the week’s leftovers and pack it up for lunch.  Spend a couple hours picnicking at the beach or local park.

Breakfast In Bed — Scramble some eggs, squeeze some fresh orange juice, and top it off with a beautiful flower.  Make some breakfast for yourself as well so the two of you can enjoy it in bed together.

Recipe Book — Gather together all of your favorite family recipes, and have them printed into a customized booklet.  You can add some family photos to the collection as well.

Frugal Outing — Spend some time looking up local tours, concerts, and museums.  Pick an outing that you can spend together without breaking the bank.

Scrapbook — Gather together some of your family photos and place them in a scrapbook.  You can also present your mom with a digital scrapbook of your favorite moments.

Coupon Book — Does your mom have some “to dos” around the house she’s been meaning to get done?  Make her a homemade booklet of “IOU” coupons that she can cash in whenever she likes.

Free Time — Just spend some quality time with Mom.  It won’t cost you a penny, and it gives you the chance to catch up.

What are you planning to do for your Mom?  Tell us in the comments section!

E*Trade Mobile Pro (Free)
The large iPad screen makes it easier to track real-time quotes, evaluate your investments, and keep up with the top financial news of the day.

Bloomberg LP for iPad (Free)
Bloomberg’s free and powerful financial news app delivers news, market data, charts, feeds, and multimedia content, in a simple and intuitive interface.

powerOne Financial Calculator ($5.99)
Includes 60 financial, real estate, investment, and conversion calculators.  With this app, you can calculate price comparisons and tips, investment values, loan qualifications, cap rates, and much more.

Square (Free)
“Quickly and securely accept payments for your business, service, charity, or even your couch.  Generate e-mail and SMS receipts for cash and card payments, maintain frequently sold items, calculate sales tax, and effortlessly manage and visualize all the money you take with an intuitive web-based interface.”

EZTip Calculator TipAgent (Free)
These apps help you calculate a complicated dinner bill through features that can split the bill and/or tip.

Thomson Reuters Marketboard (Free)
“Allows financial professionals, students, and market enthusiasts to quickly grasp global performance and review documents to better understand events that drive the market.”

Box.net (Free)
Keep and view all of your financial files, documents, media, and other content through one app.  You can skim through a PDF file, watch a video, organize content in files and folders, and exchange files and comments with friends and co-workers.

Bread and Milk ($0.99)
Simple grocery list app that calculates the estimated cost of your shopping cart.  You can also add menus and diet lists to the app, and e-mail your grocery list to friends and/or family.

Let’s Do This ($0.99)
Simple to-do list app with an attractive interface.  Keep on top of your pick ups, drop offs, birthdays, appointments, and anything else you need to finish by the end of the day, week, or month.

KAYAK (Free)
Planning a vacation, visit, or business trip?  Use this app to search the best deals for flights and hotels.

These aren’t specifically money related apps, but are things we use and love, so we thought we’d share them too. They can boost your productivity and save you time. Time is money after all!

Huddle (Free)
“Huddle is a network of secure online workspaces where you can share files, collaborate on ideas, manage projects and organize virtual meetings.”

GoDocs ($3.99)
Create, view, edit, and share your Google Documents from your iPad.  It works for both online and offline modes, allowing you to download the documents.

Got any other favorite iPad apps?  Tell us in the comments section!

Residential Energy Property Credit: The American Recovery and Reinvestment Act has increased the credit rate to 30 percent of the cost to qualifying home improvements and has raised the maximum credit limit to $1500 for improvements made in 2010.

The credit applies to improvements such as adding insulation, energy efficient exterior windows and energy-efficient heating and air conditioning systems.
Note: It is important to remember that not all Energy Star products qualify for a tax credit.  Click here for a list of qualifying appliances.
Furthermore, recent reports have demonstrated that products with the “Energy Star” label may not be as energy efficient as you may think.  But the Department of Energy and EPA are planning on “cracking down” on energy efficiency standards to make sure that consumers are purchasing green appliances.

Click here for an informative buying guide on everything from refrigerators to vacuums.

Residential Energy Efficient Property Credit: This tax credit encourages you to invest in “residential alternative energy equipment,” such as wind turbines, solar hot water heaters, and geothermal heat pumps.  You can receive up to 30 percent of the energy-efficient products, and the maximum credit has been increased from $500 to $1500.  Click here for more information.

Plug-in Electric Drive Vehicle Credit: Keep your garage stocked with a plug-in hybrid car.  The stimulus package devotes $2 billion to reward an environmentally-friendly car purchase with a $7,500 tax credit.  Click here for more information.

Note: remember to save receipts so you can be eligible for the tax credits!

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Simple Tricks

Greening your home is the new “it” thing to do.  Not only can it make mother nature happy, but it can make your wallet happy as well. If you’re wary about setting up a solar panel on your roof, try implementing some of these simple tips to save some money on your energy bill and general house expenses:

Before embarking on any DIY projects, fill out a home energy assessment form to find out where you can improve.

Set up a laundry line instead of dumping it into the dryer. According to the American Council for an Energy Efficient Economy, line-drying your laundry can help you save around $10 a month.  Every bit helps!

Remember to unplug appliances that aren’t in use, like cell phone chargers and TVs.  Also, plug your appliances into power strips with surge protectors to make it easier to save up to 5 to 10 percent on your monthly bill.

According to the U.S. Department of Energy, closing air leaks in your home can save up to 30 percent on your energy bill. Caulk and/or weatherstrip around your home to prevent leaks.

Remember to clean out your furnace’s air filter every month, which will cost you around $5-$20.  If you fail to do so, you could be wasting up to 10% in energy costs.

Lower your water-heater setting from 140 F to 120 F, which can help you save up to 10% in your energy bill.

Save water through buying a low-flow toilet, which cost somewhere between $150 and $450.  Also, use a broom instead of garden hose to clean your driveway.

Choose bamboo for hardwood floors and furniture: this type of wood is much more environmentally friendly than other typical hardwoods because it takes less time to mature.

Make the switch to compact fluorescent light bulbs (CFLs). They cost more, but last up to ten times longer, giving you some great savings in the long run.  If you replace a regular bulb with a CFL, you can reduce carbon dioxide emissions by 500 pounds a year.  Replace up to 17 light bulbs, and that equates taking a car off the road for a year.

Replace single-pane windows with “low- e” models to save somewhere between $150-$450 per year.

Make your own homemade, natural cleaning products. Click here for a list of recipes that use simple products like white vinegar and baking soda.

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Got anymore tips for us?  Tell us in the comments section!

Source list:

Real Simple

energy.gov

realestate.msn.com/

What the savings are starting this summer:

1. Under 19 and you can’t be denied. You can no longer be excluded for pre-existing conditions and forced to pay super high rates.  This will go into effect for the nineteen and up crowd in 2014.  Until then, you can buy into a high-risk pool.

2. Preventative care will be free. Planning on taking a trip around the world this summer?  Thanks to the health care bill, preventative care is now free.  This means that you can get travel immunizations free of charge, along with STD tests, vaccines, and OBGYN visits, all of which are crucial for us Generation Yers.

3. You can stay on your parents plan until 26. This is a big deal, especially in this economy.  How many recent college grads will end up employed with full benefits?  Not too many.

What will affect Gen Y later (2014)

As mentioned earlier, health care companies will not be able to discriminate against anyone based on pre-existing conditions.

The government will provide increased funding towards community health centers.

There will be greater access towards information on health care plans.  States will receive funding to establish consumer assistance offices.  This means filing complaints and appeals will become a much simpler and less stressful process.

Insurance companies can no longer discriminate based on gender.  Before reform, women typically paid a third more for health care.

States will expand Medicaid to adults without children beginning in 2014.  Furthermore, a nationwide pilot program will launch to help hospitals and doctors provide better patient care under Medicare.

Tanning salon junkie?  Starting in July, a ten percent tax will be imposed on tanning salon services.  This will help to pay for reform.

Prepare Or Face Some Penalties – So what do you do if you’re under 26 and your parents don’t have health insurance?  And your job doesn’t come with benefits? Or even more likely, you’re unemployed?  Unless you sign up for a separate health care plan, you will face a tax penalty along with the rest of the country.  Those without coverage will be mandated to pay a $695 fine.  Ouch!

Don’t Get Caught In The Middle – And what about the time between now and six months?  There are a big chunk of us that will have graduated before the 26 and under provision goes into action, myself included.

Solution: If you’re stuck in between a rock and a hard place, I would recommend signing up for a short-term health care coverage.  You won’t get all of the benefits under a Cadillac type of plan, but some health insurance is better than none.  Check out the below links to see what type of coverage you could receive.

http://www.assuranthealth.com/corp/ah/
http://www.ehealthinsurance.com/ehi/WelcomeQ409.ds?mcei.app.terminalID=__tid__1_

Also, part of the health care bill included a provision for the Secretary of Health and Human Services to setup a website that will help you find the most affordable health care option.  Once this plan is put into action, hopefully it can help you get the best bang for your buck!

Want more info on health care reform?  Check out http://www.kff.org/healthreform/sidebyside.cfm

Newspaper classified ads were sooooo last year.  It’s all about the internet these days, which thankfully makes the process a lot easier through customizable options.  This is a list of the top 9 search engines:

Monster
College Monster
Simply Hired
Indeed
Career Builder
Job Search Engine
Craigslist
Yahoo Hot Jobs
Snag a Job

Instead of waiting for a company to come to you, why not approach them?  Research companies that appeal to you.  Many companies post job listings directly on their site, or provide a way to send in your resume and cover letter.

Resume

Use your resources to your advantage.  If you’re still in school, go to your campus career center to get your resume and cover letter critiqued.  If you’re not, check out some of these links to help enhance your resume

Resume Writing Tips
Resume Samples

Make sure to include some personal aspects about yourself.  Include your interests, hobbies, volunteer experience, etc. to make sure you stand out from the rest and to help give employers an idea about who you are (I received this advice from an employer just a few days ago).

Network/Social Media

Join Linked In.  Be sure to update your resume, look for old colleagues, and don’t be afraid to ask for recommendations.

Monster is a great resource for professional networking tips.  There’s advice for women, techies,  shy people, and everyone in between.

Keep your online profiles work-appropriate.  This tip is especially directed towards the recent college grads.  An employer won’t be impressed with your keg stand and beer pong skills.

Interview

Brush up on your interview techniques.  Here are some of my favorite articles that can help you prep for the toughest of interviews

8 Ways To Turn Off Your Interviewer
Ten Job Interview Tips
Interview Mistakes You Wish You Could Take Back
When The First Interview Is A Phone Call

Before you go into an interview, make sure you know what the company is all about.  Google will become your best friend.  Being unprepared can make you look unprofessional in an interview.

Don’t forget to dress for success.  No matter how experience or glowing references you have, a shabby appearance will ding you some major points.

Turn your cell phone off!  Not silent, off.

Prepare beforehand.  Practice out loud some of the questions you think you will be asked.  Make sure to have a list of questions that you will ask the employer at the end of the interview.

After the Interview
Remain confident.  It’s unlikely you’ll find your dream job in this economy, or even find a job at all.  But that doesn’t mean you should start wallowing in self-pity.  Negative energy can only hurt you. In the mean time, check out this helpful blog post that offers advice on how to revamp your job search:
Change Up Your Job Search

Take an online course or sign up for a workshop to develop and expand your skill set.  Familiar with Photoshop?  Become proficient.  Also, did you know that the stimulus package includes funding for adult job training?  Take advantage of this opportunity.

What are some of your top career tips and advice?  Tell us in the comments section!

I come from a very progressive, health-conscious, environmentally friendly family, so needless to say I’ve been trained to spend my money in places like Trader Joes and Whole Foods.  I have never considered buying groceries at Wal-Mart, and in fact I avoid buying any type of product there.  Similarly, growing up in an affluent part of California has led me to take access to quality produce for granted.  Sometimes I forget that the everyday American doesn’t have access to ripe pomegranates and avocados.  Or even a tasty red apple free of  ugly bruises.

That’s why Wal-Mart’s new business plan is such a big deal. People often confuse organic with eco-conscious.  While it is important to eat produce that’s free of pesticides, it is just as important, if not more, to buy fruits and vegetables close to your home.  What’s the point of buying organic fruits and vegetables if it’s been trucked half-way across the country?  Before such a venture, many Americans didn’t have the option to pick local produce over cross-country produce.  And if they did, it ate up a large chunk of their budget.  Now, thanks to Wal-Mart, many more Americans can grocery shop while  simultaneously pleasing the environment, their wallet and their health.

Several listeners called into the NPR show, saying how they are now shopping in a store they had always morally opposed because of questionable labor practices.  But with the state of the economy these days, how can you beat basement-low produce prices?  One caller also said she had started shopping at Wal-Mart because it has started offering gluten-free food that is half as expensive as the same products at Whole Foods, making shopping for her daughter with celiac disease a much less expensive and stressful practice.

So what’s the downside?  Just as Wal-Mart has driven local stores out of business across the country, it could do the same with local food vendors.  This means that your regional agricultural sector could become dependent on Wal-Mart to sell its produce, which means if Wal-Mart demands to buy the same produce at a lower price, they have no choice but to say yes.

So, what to do?  I think it’s important to get produce at a local farmers market when possible.  Buy it straight from the source.  Local markets and co-ops are a great alternative as well.  But if Wal-Mart and Whole Foods are your only options, then you have to decide between a healthy diet and a healthy wallet.  If you take your diet and the environment seriously, but have no room for negotiation in your budget, then I say shop at Wal-Mart.  It’s also important to remember that “elite” grocery stores aren’t perfect, either.  If you adamantly refuse to shop at a place like Wal-Mart, then look for other parts to cut in your budget to make room for your grocery shopping budget.

What’s your take on this story?  Are you going to start shopping at Wal-Mart now?  Tell us in the comments section!

I live for following the news and keeping up with current events, but even this political battle took a toll on me.  The name-calling, emotional appeals, gridlock, and partisan propaganda was draining.

Fortunately, now that the decision has been made, the details of health care reform are starting to clear through the Washington fog.  I’ve spent all day googling “health care reform” to come up with a comprehensive list of programs that will directly affect you and your budget.

Coverage

Uninsured?  You may be one of 32 million Americans that will receive coverage under reform.  This bill doesn’t cover everyone though.  It’s been estimated that 23 million will still be uninsured in 2019, but one-third of those are illegal immigrants.

If you have insurance, you can stick with your plan or opt into state-run marketplaces beginning in 2014.

By 2014, everyone must purchase health insurance or face a $695 annual fine. There will be some exceptions for low-income or religious reasons.

Six months from now, young adults can stay on their parents insurance until 26.

Starting in 2014, a family of four that makes less than $88,000 can qualify for tax credits that will help with expenses such as premiums and deductibles.

Reform

No more pre-existing conditions!  Insurance companies can no longer discriminate based on your medical history.  This goes into effect immediately for children, and will apply to adults in 2014.

Your coverage can’t be cut once you are diagnosed or get sick.

No more caps.  Insurance companies are restricted from placing annual or lifetime caps on your coverage.

Insurance companies must publicize how much of their budget they divert towards overhead costs.

Insurance companies can no longer discriminate based on gender.  Before reform, women typically paid a third more for insurance than men.

Businesses

Small businesses that employ less than 50 individuals will receive tax credits that help with up to 50% in premiums.

Most employers will be obligated to offer health coverage, or face penalties.

Medicare/Medicaid

The  Medicare prescription drug “donut hole” will be closed by 2020.  Those who fall in the coverage gap in 2010 will receive a $250 reimbursement.

States will expand Medicaid to adults without children beginning in 2014.

A nationwide pilot program will launch to help hospitals and doctors provide better patient care under Medicare.

Various

Starting in July, a ten percent tax will be imposed on tanning salon services.  This will help to pay for reform.

The Secretary of Health and Human Services plans to setup a website that will help you find the most affordable health care option.

Did I miss anything?  Share additional reforms in the comments section.

You should also check out the New York Times interactive post on the bill.  They always do a great job of breaking down complex legislation for the everyday reader.

We often joke about “shop till you drop,” but compulsive spending is serious addiction that should be discussed and addressed.  It has been estimated that up to ten percent of Americans are “shopaholics,” so chances are either you or someone you know is struggling with this addiction.

Compulsive spending can be just as addicting as a dependency on alcohol or drugs.  Spending addicts often feel a rush of euphoria when shopping, just as drug addicts do.  This addiction is often coupled with other psychological issues, such as depression and eating disorders.

Compulsive spenders often suffer from low self esteem, and feelings of emptiness or neglect.  They try to fix their emotions through shopping, just as binge eaters do with food.

The majority of compulsive spenders are women, who tend to focus their addiction on clothes, jewelry, and gifts.  Men, who make up around 10% of compulsive spenders, generally spend their money “collecting” electronics, cars, memorabilia, and other items.

Are you a compulsive spender?

• Do you continue to shop, even if you are stressed or anxious over your debt?

• Look at your bank statement.  Do you have trouble channeling your extra income into your savings account?

• Do you lie to friends or family about how much you spend?

• Go into your closet.  Are there still price tags on your purchases?  Do you rarely wear or use purchases?

• Do you feel a rush of euphoria when shopping?

• Do you feel angry or upset when you can’t spend time at the mall?

• Check your internet habits.  Do you spend hours upon hours shopping online?

• Do you tell yourself, “If I buy this I’ll feel better about myself”?

• Check your heart rate.  Does it race when you’re shopping or making a purchase?

If you answered “yes” to several of these questions, there’s a good possibility that you are a compulsive spender.

So what now?  How can I get help?

There are a number of ways you can free yourself from this addiction, but it will take a lot of work.  Brace yourself for some major lifestyle changes.

• Get some help.  Think of therapy as an investment.  Join a self-help group, such as Debtors Anonymous.

• Determine your triggers.  When do you feel the urge to shop?  Find something else to do when these emotions arise, such as go for a walk, spend time with friends, etc.

• Stick to cash.  This is the best way to avoid racking up thousands of dollars in     credit card debt.  You can only spend what you have.

• Communicate.  Let your friends and family know that you’re struggling with     compulsive spending.  They can help you stick to your goals.

• Put it on hold. Chances are you’ll forget about the item 24 hours later.  And don’t forget to constantly ask yourself, “Do I really need this?”

• Stick to lists.  Whether you’re at Nordstroms or Costco, creating a shopping list can help you keep your purchases strictly to what you need at that moment.

• Avoid the mall.  This includes online shopping too.  Cancel e-mail subscriptions to your favorite stores, or at least divert them to an e-mail you don’t check on a regular basis.

• Clean out your closet.  Donate your items, or sell them on eBay to help pay off your debt.

Even if you do not identify as a compulsive spender, it can’t hurt to rework your shopping habits.  A frugal mentality is an important part of financial responsibility, regardless of the state of the economy.