Make Money on Valentines Day!

In honor of Valentine's day, I thought I would share 13 great ways to make money on Valentine's day. The original post is from WiseBread.com and can be found here. Enjoy!

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13 Ways to Make Money From Valentine's Day

While Valentine's Day is traditionally for lovers, it's also for savvy entrepreneurs. Instead of emptying your wallet to buy your special someone something special (aka "expensive"), you can actually turn a profit by setting up a side gig. Take advantage of the Hallmark holiday by raking in cold, hard cash with these 13 ways to earn extra money from Valentine's Day.

1. Create Handmade Valentine's Cards

If you're crafty or have decent graphic design skills, create your own line of heartfelt or funny Valentine's greeting cards. They're relatively easy to make — keeping them clever will probably be the hardest part — and you can sell them on Etsy, Bonanza, and a host of other sites that cater to handmade items. You'll can find colored envelopes at your local office-supply or craft store, and be sure to account for the cost of materials and shipping when pricing so you can make a decent profit.

2. Deliver Stuff

Not all local companies have the resources to offer delivery services, and that's where you come in. Identify some of the businesses that are particularly relevant around Valentine's Day and contact them to see what their delivery needs are. Places like florists, gift shops, and bakeries may be able to use an extra hand.

Bear in mind that this gig will likely be under-the-table because of insurance restrictions, so consider that before deciding if this is right for you. Even better, you may be able to score private gigs from, say, a guy who wants to send his girlfriend flowers last minute so he can save on the high shipping and delivery costs. One man's procrastination is your extra cash.

3. Play Chef for a Couple's Romantic Dinner

Are you a whiz in the kitchen? Offer to cook a multi-course meal for family, friends, co-workers, or even strangers who want to enjoy a relaxing Valentine's Day at home without all the hassle of cooking a romantic dinner. Plan a special menu of the couple's favorite dishes — complete with candles, ambient lighting, and mood-setting music — and set your fee to accommodate for the ingredients, travel, and time spent setting up, cooking, and cleaning after the meal.

4. Write Love Letters for Would-Be Casanovas

Most people aren't very slick when it comes to writing poetry or love letters, but if you're a gifted writer who can make people swoon in just a few sentences, putting sweet nothings on paper might be your money maker. (See also: 11 Life Skills That Are Now Completely Obsolete)

5. Plan Exciting Date Experiences

Everybody has their strengths, but men aren't always the best at planning special, exciting, or romantic dates. There are some creative dudes out there, for sure, but for the most part, the male of the species needs help in this area. If you happen to excel in this department, put together a few itineraries that are too good to pass up, and then do the due diligence so you can get paid by setting up the date to ensure that it goes off without a hitch.

6. Babysit or Pet Sit

All those parents you know — both of human and fur babies — deserve a break, too. And you can cash in big if you have the skills, certifications, and patience to babysit or pet sit while Mom and Dad enjoy a night out on the town.

According to UrbanSitter's 2015 Babysitting and Nanny Rates Survey, you're looking at about $15 per hour for one child and upwards of $20 per hour for three children. Add in a 15%-20% tip plus pizza money and you could take home a legit payday, albeit with a few more gray hairs. For pet sitting, you can expect between $10 and $15 per hour, as estimated by Care.com's pet care rate calculator.

7. Bake Valentine-Themed Goodies

What's Valentine's Day without dessert? That's the best part! Whip up your famous cookies, cakes, and pastries, and shop them around to local eateries (you'll fare better if you establish yourself as a small business with well-packaged goods and a business card; both of which are easy to do), or offer them up to your private network of friends, family, and co-workers.

8. Unload Unwanted Jewelry

If you have a collection of jewelry with which you're willing to part, you may be able to find interested buyers in your area. Instant-list apps like Wallapop, VarageSale, and OfferUp have made it simpler than ever to unload your items by snapping a photo, writing a short description, and naming a price.

9. Promote Your Party-Planning Skills

There may not be a huge market for amateur party planners, but it's worth a shot. If you're known for throwing memorable shindigs, you might be able to drum up some business. Shop the dollar stores for decorations to keep costs down.

10. Busk, or Serenade Couples

Throw a hat or instrument case on the ground in a well-traveled area and belt out love songs all day. If you want to be more proactive about it, take your show on the road and wander up to lovey-dovey couples for a serenading session. That dude would be a dummy if he didn't at least reach in his pocket for a dollar.

11. Photograph Couples' Special Moments

Valentine's Day, with all the sentiment that surrounds it, is prime time for weddings, engagements, and other relationship-specific photo ops. If you're handy with a camera, offer to snap shots of the special moments that the happy couple will cherish forever.

12. Draw or Paint Couples' Portraits

You don't have to be a well-established or recognized artist to sell your work. Some couples may enjoy the prospect of being drawn or painted, not only as a Valentine's Day activity, but also a gift to themselves that they can hang in the home as a reminder of their love.

13. Host a Singles Party for All Your Lonely Friends

Planning on spending Valentine's Day alone? Not anymore. Host a party at home for singles, if you have a large and diverse network of friends. Charge a few bucks admission to cover the cost of food, décor, drinks, and so you can walk away with a reasonable wage.

Now Offering Free Trials!

It's not about how much you make, but how much you keep! A dollar saved is a dollar earned. I have start posting links to free trials for all my readers to take advantage of! Various Amazon Services (Kindle, Music, etc.) and viewing services (HBO, Showtime, etc.) are available to you for free on the right hand side of my website. Enjoy!

Also - I have removed ads from my site to improve reader experience :)

Educate yourself! Learn THEN earn!

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Summary: Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferriss

Cash for Sperm, Easy Money for Men

Check out Bruce Watson's Article from DailyFinance.com, about how to sell your sperm for cash!

Selling Sperm for Money

"When I was in college, I once visited a friend at another university. As with many such visits, I spent much of my time in an alcoholic haze, wandering from apartment to apartment, meeting my friend's friends, drinking odd beverages, and generally getting down Hunter S. Thompson-style. Good times.

In one apartment, I remember watching some90210 on the occupants' big screen TV. Over the course of the show, I noticed that they kept referring to it as "the TV that sperm bought." Finally, unable to contain my curiosity, I asked about the nickname. Laughing, one of them told me that the roommates had pooled their resources from selling sperm and had used the proceeds to purchase a TV. Since then, my research has shown me that, regardless of the the truth of the roommates' claims, it certainly could be true. Advertised sperm donation rates vary from $1 to $200 per week; most donors can expect somewhere around $40 per donation. Given that you can only deposit sperm every five days, your career as a sperm donor will probably only net you enough money to eat at McDonald's. Although, if you save carefully, your genetic material could translate into a sweet home theater system.

When I was a college student, sperm donation seemed like an interesting idea. After all, I'd be paid for doing something that I usually did pro bono, would be able to make some poor ladies really happy, and would pick up a little bit of dough on the side. In the meantime, I was legally protected; there was no way that the little Brucies and Brucinias that were wandering the earth could track their way back to me. Then I read the small print.

To begin with, sperm donation isn't a quick and easy, drop in, drop off, pick-up-your-cash type of deal. Among other minor irritations, it requires months of tests, a six-month to three-year commitment to a sperm bank, and no "liberation" of sperm when you're off the clock. Added to this is the fact that you will probably never know what happened to your children, although recent events are conspiring to strip away the cloak of anonymity under which many sperm donors have made their contributions to society. In other words, regardless of your position on the whole anonymity thing, sperm donation could end up being a little awkward.

That having been said, there is a desire for healthy sperm donors and the money is nothing to sneeze at, particularly if you're currently working your way through your ramen and tuna fish years. Unlike egg donation or surrogacy, the comparable options that are available to women, sperm donation is relatively non-invasive, albeit a lot less lucrative. Frankly, if I had it all to do over again...well, there were a couple of years in the mid-1990's when I could have used a little more cash..."

Thanks for reading, comments encouraged.

Forbes: Converting Ideas into Reality

Check out this article by Forbes.com discussing how to make money in your spare time from home. The article was written in 2007, but much of it still applies to making money online today. 

The 12 Things That Successfully Convert a Great Idea Into a Reality

How many times have you been in a meeting and someone says to you, “That’s a great idea, you should take the initiative and make it a reality.” What typically happens? Most of the time – nothing. Most great ideas remain dormant because people don’t have the courage, resources, time and/or money to take action. And for those who take action, most are unprepared and thus find themselves spending their valuable time and money on a dream that simply goes astray.The same thing holds true in the workplace – where according to a recent study conducted by my organization, the workforce is not innovative enough because we are trained and wired only to execute on what we are told to do. No wonder we are most proficient at completing short term, immediate tasks. On the other hand, employees are least proficient at multiplying the opportunities inherent in the initial task they were asked to complete. Yes, we should be concerned about our ability to remain competitive – as both individuals and in our organizations.Never stop connecting the dots!




Converting an idea into a reality (regardless of the required investment of time and money) is never an easy task. In fact, it is extremely difficult. Whether you are an entrepreneur or corporate executive, “giving ideas life” is much like giving birth to a child. You must own the responsibility regardless of the circumstances. No one will ever understand your idea or the dynamics associated with it like you do. In this regard, you are on your own and the journey will require you to learn about yourself – more than anything else will in your career.


As the old saying goes, “If it were easy – everyone would do it.”


Many articles have been written about this subject, but I have yet to read one that really digs deep enough to help one truly understand what is required mentality, physically and intellectually to go from idea to reality. Perhaps it’s because the process of cultivating an idea into a reality is a never ending cycle if you want to keep the idea alive over changing times. For example, we see this all the time with companies based on great ideas that then did not remain innovative and/or competitive enough to sustain their market leadership positions. . Let’s face it, Blockbuster should have thought of the ideas behind Netflix and Redbox – and made them a reality – well before these two companies became their competitors.

Today’s fiercely competitive marketplace requires us all to either convert our own ideas – or be a part of converting someone else’s ideas – into a reality. If you are not participating in either of these activities, you must re-evaluate your purpose, what you stand for and your desire to be relevant. Everyone must be a part of cultivating innovation around the clock. You must begin to accept that embracing the entrepreneurial attitude is a requirement to cultivate growth and opportunity for the organization you lead and serve.

Entrepreneurship is no longer just a business term anymore; it’s a way of life. You don’t need to be an entrepreneur to be entrepreneurial.

Did you ever think that not being involved in innovative activities was irresponsible? Well, it is – not just to yourself, but to those around you.

As you think about how you can begin to embrace the entrepreneurial attitude more actively, here are 12 things you must actively do – at all times – in order to convert ideas into reality:

1. Believe in Yourself

You can’t take action until you believe in yourself enough to handle the consequences of your decisions. Any time you assume the responsibility to give something that had not existed before an opportunity to become a reality – you become accountable for your actions.

Accountability requires believing in yourself enough to be 100% dedicated to getting the work done. Most people fail to take an idea to fruition because the unexpected challenges become more than they think they can handle and thus they no longer want to be accountable. They lose the belief in themselves to see things through all the way to the end.

2. Create Your Own Personal Board of Advisors

Learn from those who have done it before. Don’t ever think you have all of the answers, just because it’s your idea. Ideation is distinctly different than execution.

Allow your personal board of advisors to guide you with wisdom born from their own failures and subsequent successes. I talked to a couple of fellow entrepreneurs about this and they offered some of their own wisdom.

Rich Melcombe, President & CEO of Richmel Media & Productions, says that: “If you want to be a successful entrepreneur, listen to everyone because you never know when you will hear a good idea. Advice from stakeholders is usually more meaningful, but not necessarily right. Few people will have enough context to fully understand what you’re trying to do. Synthesize their comments so they make sense to you, understand the thinking behind any negative comments, and then make the decision on your own.”

Brad Lea, Founder & CEO of Lightspeed VT, adds: “Although it is valuable to have a personal board of advisors, be careful not to let them deter you from your vision. Steve Jobs’ board said he was “crazy” to enter into the cell phone space because it was saturated and it would not be worth the long and laborious effort.”

In the end, carefully evaluate any input that you get – but proceed with your own gut instinct.

3. Embrace Risk as Your Best Friend

Risk becomes your best friend when you give birth to an idea. If you can accept this fact, you will approach the process with a lens that keeps your dreams and ambitions in perspective and on track. When things don’t go as planned along the way, stay focused on the mission at hand and do not allow disruption to set you backward. Risk is normal and steps #1 and #2 will keep you looking forward.

You often hear that “working hard” is an imperative to convert ideas into reality. But in fact, it is the most fundamental commitment one must make to assume any form of risk management. As such, you must find a way to make this level of commitment if you want to continue on the journey.

4. Be Extremely Patient

Compromise is a choice, not a sacrifice. Don’t put too much pressure on yourself. Take the time to appreciate the journey and understand how things work. Most people are too anxious to get their desired results and thus start to make bad decisions as they go.

One thing is certain: the journey will be filled with unexpected outcomes that you may not be prepared to deal with. Don’t let this get you down, but keep your head up and respect the process and where it takes you. You will learn a lot about your threshold of risk and ability. Equally, you will learn that many doubters are ready to stand in your way and may attempt to bring you down; this is when the ride gets uncomfortable. Constantly reevaluate those with whom you are sharing the journey (i.e., your inner circle).

5. Learn How to Sell Your Vision

Converting your idea to a reality requires you to help others understand your vision. Selling vision is much like selling change. Clearly define your value proposition and how it can generate revenue. Selling lofty ideas without understanding how it will achieve financial results will never get you the right audience. The bottom line is what gets everyone’s attention (you can see this played out every week on the TV show “Shark Tank”).

Simplicity is the key to selling the vision for your idea. Making it easy for someone on the “outside” to understand what you are trying to accomplish will create engagement and increase your probability of expanding buy-in for your idea. This skill comes into play when selling to possible investors. Learn how to sell your vision sooner than later. Don’t wait as it takes time to piece together and refine your message.

6. Connect the Dots Along the Way

Everything is connected to something else. Learn how to spot the paths of connectivity along the journey. What may be your “core idea” today can mature into something bigger as you connect other tenets that naturally associate with your idea along the way.

For example, I launched a food business in 1997 called Luna Rossa Corporation. I started with a product line of specialty vegetables anchored by my flagship product of marinated artichoke hearts. The idea was to market a gourmet / higher-quality line of Luna Rossa branded products inside warehouse retailer Costco – which we successfully accomplished. Over time, this core idea led to gourmet line extensions that included pasta sauces, salad dressings, etc. We sold products to over 6000 retail stores throughout North America, eventually creating new brands and entering into licensing arrangements.

7. Be Passionate With Your Pursuit

The pursuit of excellence requires you to unleash your passion. When you put your passion into everything you do, it gives you the power to become a potent pioneer. You will blaze paths few would go down, and see them all the way through to the end. Your passionate pursuit of converting your idea into a reality will open new doors to endless possibilities.

Your ability to remain passionate about what you stand for is the ultimate enabler for the success of your idea.

8. Be Purposeful

Your intentions for your idea must have purpose and meaning. If not, your probability to quit along the way will increase. It will also increase the likelihood of you “psyching yourself out with unnecessary excuses.”

Rich Melcombe adds: “Entrepreneurs must have passion and believe in what they are doing or they are destined to fail. You need to make a commitment to yourself and have a fiduciary responsibility to anyone who supports your idea or concept. Your purpose is to execute the idea and make others believe too.”

Purpose fuels your passion and makes your journey less lonely. Perhaps this explains why family-controlled firms outperform their public peers by 6% on company market value. Today, one-third of all companies in the S&P 500 index are run by families.

9. Focus on Building Momentum

Carefully identify all of your resources and build upon them via relationships, networking and sharing of resources to expand the opportunity for your ideas. Building momentum is critically important to convert your idea into a reality.

Stay focused, stick to your plan, eliminate distractions and neutralize the noise. Remember to manage your time wisely and never get overly excited about new opportunities that stem from your original idea. Step-back, don’t commit too quickly, and understand how the dots connect.

Building momentum has a lot to do with timing and the management and deployment of resources. Every resource counts. Know when and when not to use them so their value is optimally utilized at the right place and time.

10. Always Make the Idea Better

Never grow complacent. You can always expand upon your idea and make it better. When you begin to see how the dots connect, challenge yourself and your personal board of advisors to make your ideas even better.

This is what Steve Jobs did with Apple, Pixar Animation and Apple again. Continuous improvements were part of his legacy. He never stopped thinking of ways to make his ideas better. The Japanese even have a name for it: Kaizen.

11. Make Work/Life Balance a Priority

No matter how smart, passionate, or focused you work, without balance we are all susceptible to burnout. Mind, body and soul must be properly aligned. Take the time to make work/life balance a priority. It will give you greater clarity of thought and help you keep things in perspective.

Successfully converting an idea into a reality is a marathon, not a sprint. Pace yourself so that you can reflect upon the mission at hand. Always be aware of what you are attempting to accomplish. Don’t overwhelm your mind; give yourself some breathing room and allow your creativity to expand.

12. Build a Legacy Around Your Idea

Let’s say you made the commitment to assume the responsibilities associated with the first 11 steps and have already been successful. Your original idea was born and its impact has now morphed into multiple areas that you would have never thought possible at the beginning.

You have “earned your serendipity” and the opportunities you have created for yourself and others have been momentous. The success of your idea is now real; it has become something more significant and it is up to you to make sure its legacy remains sustainable.

Once you give your idea its life, it is your responsibility that its impact stays alive forever.

Original Post: http://www.forbes.com/sites/glennllopis/2013/04/01/12-things-successfully-convert-a-great-idea-into-a-reality/

How to Make Money Over Winter Break

If you’re anything like me, you wait all semester to catch a break. But after a few days at home, you somehow find yourself bored out of your mind. You have no projects to think about, no tests to study for, and more time on your hands than you thought you could handle. So what better time to fill your days with a job and make some extra cash? Here are 15 ways to get going on filling up your bank account before spring semester rolls around:

1. Shovel some snow- If there’s lots of snow where you live, you might as well make the most of it and offer your shoveling services to your neighbors and family members. Tom Vecchione, executive director of career services at Elon University, calls this money-maker an “oldie but goodie.” He also says he would definitely pay someone to do it for him!

2. Be a distributor- Vecchione says, “Many employers in larger to mid-size areas employ high school and college students to hand out flyers or other marketing items to the public.”  Look around at local coffee shops or ice cream shops to see what flyers are already posted, and then give them a call to see if they’d like any more help.

3. Babysit- Parents are super busy with holiday parties and office parties over break. Offer to watch your cousins, neighbors, siblings or nieces and nephews. You’ll have fun and make good money in the process.  If your neighborhood or high school has an email list-serv, send something out letting everyone know you’re available to help.

4. Watch someone’s pets- Lots of people take short vacations and trips over the holidays. And most people would rather leave their pets at home than kennel them, so offer to feed and walk your neighbor’s dog or feed their fish. You’ll be a great help!  This is another item you can shoot over a neighborhood email list-serv. 

5. Clean out your closet- Go through all of your clothes and sell what you don’t want at a local consignment store. Just try not to buy anything there while you’re selling your stuff if the goal is to be cash flow positive!

6. Sell some stuff on the Internet- Use eBay to sell items that you no longer have any use for. It’s an easy way to make money. 

7. Hold onto that summer job- Keep in touch with your boss from this summer. Chances are, he might want to hire you back for a few weeks because he won’t have to train you! Reach out to your boss as soon as you get home and ask him right away if the company will need any help over the holidays.

8. Get into retail- Vecchione says, “Retail, or anything related to helping a company adequately is a great way to spend your break [because] the holidays increase their demand for services.” You can help! When you’re out doing Christmas shopping, spend some time going in and out of stores asking if they’re hiring for the holidays.  

9. Host a garage sale- Ross Wade, Assistant Director of Career Services at Elon University, suggests having a holiday garage sale. Sell all of your old CD’s, DVD’s, handbags, clothes, whatever! Get your siblings or neighbors to organize it with you so you have more to sell and you can all benefit from it! Put up a flyer at your local Community Center or put flyers in mailboxes around your neighborhood to publicize. Post something about it on your Facebook too—you can even make a Facebook photo album that is a sort of gallery of the items you’ll be selling. 

10. Play the ‘nice’ card- Wade suggests playing the nice card. “Be extra nice to your family so they give you some extra money in your holiday card.” Worth a try, right? 

11. Clean the house… in search of money- Do a quick sweep all over your house, taking extra time to look under the couch and behind the cushions. Then take the loose change you’ve gathered up and put it in the Coinstar at your local grocery store. You can convert the change into gift cards, too.  Hey—you said you had a lot of free time, right? 

12. Sell your old textbooks- Lots of people sell their books back to the bookstore, but you can get a lot more money by selling them to friends or other students who are taking the same classes. Visit websites like bookbyte.com 

13. Use your artistic ability- Wade says, “If you’re artsy, design and create some holiday cards or art to sell on etsy.com and upload a design for a greeting card. You can sell your personal designs online! 

14. Recycle- Did you know that you can get money for recycling? Some grocery stores give customers change in exchange for used plastic bottles. Getting paid to go green? Doesn’t get any better than that! 

15. Wrap it up- Put flyers out in the mailboxes in your neighborhood offering your wrapping services. Say that you’ll take some stress off of their plate by offering to do their present wrapping!

Original Post: http://www.hercampus.com/career/money/15-ways-make-money-over-winter-break?page=2

Make the Most of your Winter Break!

It can be tricky to figure out what to do between semesters. So much time and so little motivation! It may be tempting to do absolutely nothing, but that isn’t always the wisest choice. So what makes the perfect recipe for the best winter break possible?

Be Productive!

Apply for Summer Internships

Even though the days are short and (if you live somewhere cold) it’s puffy winter jacket weather, now is the time to apply for summer internships. If you’re hoping to get some insight into your future field, use this time to make some connections:

• Visit – If you’re hoping to take a peek into your future, try scheduling an office visit. Pick a few companies that you might be interested in working for in the future and ask them if you could drop in one day during the week. Make sure you ask a ton of questions, dress the part, meet as many people as possible, and follow-up with everyone!  You can find more info on “winternships” here.
• Shadow – Try shadowing someone who does what you want to do for a day. An arrangement can usually be set up on your own, through your school’s career services center, or even through a family member or friend. Use the opportunity to figure out what a typical day is like and to see if – at the end of the day – you still want to do this type of work. Read this to find out how to rock your winternship.

• Get some info – Set up an informational interview on your own or through the career services center at your school with someone in your hometown. Think of it as a stress-free opportunity to find out more about a potential career in your field. Ask questions, take notes, and don’t forget to send a thank you note afterwards!
• Be prepared – Spend a day or two working on your résumé and writing some general letters of introduction that can be handed out to potential employers. Have a few handy if you plan on going on office visits. Check out this article for advice on creating your first resume.

Make Some Money

Not the counterfeit kind. Try getting a part time job if you still have a few weeks left. Hit up the neighbors for some babysitting gigs, shovel snow (if there is any where you live), or offer some tutoring sessions. Or offer your skills to local businesses and family friends. And lots of stores hire people over the holidays—check out job search sites like careerbuilder.com or monster.com  for listings!  And here are 15 more ways to make money over winter break.

Get Organized

Do a little bit of winter cleaning – out with the old and in with the new.

“Instead of spring cleaning, clean out your closet to make room for your holiday gifts,” Kayla, a junior at Yale suggested. “And give those clothes to the Salvation Army. Good Karma may result in awesome gifts.”

You can do the same with your old books – sell as many as you can and toss or donate the rest. Make sure you go through everything first so that you don’t throw away anything important.

Original Post: http://www.hercampus.com/life/make-it-count-how-make-most-your-winter-break

3 Steps for a Successful Interview

Want to make money in college? One way is to simply get a job, or ideally a paid internship. You're biggest obstacle will be the interview, make sure you are ready for it!

Jason Nazar, CEO & Co-Founder of Docstoc (‪http://www.docstoc.com/‬) knows that making a good first impression is of the utmost importance and perhaps no where is that more evident than a job interview. Check out these 3 helpful tips to ace your next job interview. 

College Return on Investment

When people talk about the value of a college degree, they mean different things. A report last year by Georgetown University’s Center on Education and the Workforce pegs the median value of a four-year bachelor’s degree at $2.3 million, which is the average earnings for a degree holder employed full-time from ages 25 to 64. The value of a college investment calculated by PayScale, a Seattle-based compensation data company, for Bloomberg Businessweek is a small fraction of that amount, and to understand why, you need to know a little bit about our methodology.

The PayScale methodology differs from most others in several key respects. Instead of using lifetime earnings, it starts with earnings over a 30-year period. From that figure, we deduct the earnings of a typical high school graduate (since most people who don’t go to college would still have earnings, albeit at a much lower amount). In our return on investment (ROI) calculation, the “investment”—or total net cost—is the amount spent on college over the actual time it takes students to graduate, whether four, five, or six years. Finally, our ROI figures are adjusted using each school’s graduation rate. After all, if you don’t graduate, you’ve made an investment with very little financial return. The result is a return that reflects what incoming students can reasonably expect from their investment.

[More from Businessweek: Student Loan Debt, With Little to Show for It]

In 2012, both the cost of a college education and graduate earnings took a bite out of the 30-year college ROI, which fell 2.3 percent to an average of $353,182 when comparing the same set of schools in 2011 and 2012, and fell 7.8 percent to $333,455 when comparing both lists in their entirety, 691 schools in 2011 and 853 schools in 2012.

While our methodology underwent significant changes last year and this year, those figures represent an apples-to-apples comparison. On the cost side, they reflect the college sticker price for tuition, room and board, and books, without financial aid factored in, which increased 6 percent. On the earnings side, they reflect the earnings of college graduates (which decreased by 1 percent) in excess of the median pay of a high school graduate.

Two important changes to our methodology in 2011 and 2012 had the net result of reducing ROI dramatically. Since many students receive grant aid from their institutions, starting last year we began deducting average grant aid from college costs, which has the effect of increasing ROI. But starting this year, we made a second change that has the opposite effect: using 75th percentile high school graduate pay (instead of the median) to calculate how much each college’s graduates earned over and above the pay of high school graduates. We believe the 75th percentile more accurately reflects the pay of individuals capable of winning acceptance to college or who spent a few years in college before dropping out.

[Related: College Degrees With Highest Unemployment]

Looked at that way, ROI is only a fraction of what it was last year: on average, $152,114 for all 853 schools on our list, including two separate ROI calculations for state institutions using in-state and out-of-state tuition. Private schools did far better than publics, with 30-year ROI of $222,047, easily surpassing public schools for students paying in-state tuition ($122,987) and out-of-state tuition ($100,155).

Nearly a third of the top 30 schools were engineering schools, including the top three institutions: No. 1 Harvey Mudd College, No. 2 California Institute of Technology, and No. 3 Massachusetts Institute of Technology. All three schools had 30-year ROI well above $1 million, a claim only 11 schools could make. On average, engineering schools had ROIs of $603,362, more than double the ROI for liberal arts schools ($245,943), more than triple that of business schools ($141,014), and more than 26 times that of arts and design schools ($22,328).

The only schools that fared better than engineering schools were those in the Ivy League. Seven of the eight Ivies are in the top 15, and the average ROI for all eight was more than $1 million. While costs for these schools are high, several factors worked in their favor, including generous financial aid and excellent graduation rates—both in terms of how many students ultimately graduate and how long it takes them to do so. The weighted net cost to graduate was $84,241—less expensive than half the schools on the list, and half the cost of the most expensive.

[More from Businessweek: Best Undergraduate Business Schools 2012]

Schools in New York, California, and Massachusetts dominated the ranking, snaring nine, eight, and eight top-50 spots, respectively, with California and Massachusetts claiming half the top 10. New top schools were crowned in six states: Alaska, California, Florida, Illinois, Iowa, and Montana. In California, Harvey Mudd took over the top spot from Caltech (in the state and the nation). In Illinois, an elite private research institution, the University of Chicago, lost the No. 1 ranking to the University of Illinois at Urbana-Champaign, a state school with far lower costs.

Overall, the cost to receive a degree from the schools on our list averaged $85,276, a figure that reflects not just the tuition sticker price, but also average grant aid and how long it takes the average student to graduate. Private schools ($99,206) and out-of-state students at public schools ($98,538) paid the most, followed by in-state students at public schools ($55,861).

One reason why our ROI calculations differ from many others is that ours incorporate graduation rates in two different ways. First, each school’s ROI for graduates is adjusted, using its six-year graduation rate, to reflect the risk of not graduating. Second, the percentage of graduates who receive their degrees in four, five, or six years is used to determine college costs. All other things being equal, schools that graduate a large percentage of students, and who do so in four years, do a good job of holding down costs and as a result fare well in our calculations. Those who don’t, don’t.

On average, all 853 schools in this year’s ranking only graduate about 59 percent of their students, and less than two-thirds of those receive their degrees in four years. For the top 50 schools in the ranking, graduation rates are a big differentiator. On average, they graduate 88 percent of their students (compared with 51 percent for the 50 lowest-ranked schools) and 84 percent of graduates receive their degrees in four years (compared with 61 percent for the lowest-ranked schools).

Of course, it doesn’t hurt that many of the schools with the best ROI are the kind of highly selective elite private research universities with sterling reputations whose graduates tend to fetch the highest pay. Average annual pay for all the schools on the list this year was $61,426. Of the top 50 schools with the best ROI, 38 also have top-50 graduate pay, with alumni earning $81,000 or more per year. Six of the 10 schools with the highest graduate pay were either engineering or Ivy League institutions.

[Related: The 1% of the Student Debt Crisis]

On the other end of the spectrum, there are 191 schools where graduates had negative ROI. At Fayetteville State University in North Carolina, where only one out of three students graduates in six years, in-state grads earned $289,000 less over 30 years than a high school graduate earning at the 75th percentile, after deducting the cost of the degree. For out-of-state graduates, the figure is $338,000.

At all 191 schools with negative ROI, graduates actually fared worse than those who dropped out after a few years—the financial benefit of earning a degree was so meager that the added expense it entailed was simply not worth it. At these schools, at least from an ROI perspective, dropping out was the smartest thing to do.

Original Post: http://finance.yahoo.com/news/college-roi--what-we-found.html?page=3

Should College Students Have Credit Cards?

A new class of freshmen is settling into college life, and a new financial independence that often includes, for the first time, credit cards. A recent survey in the International Journal of Business and Social Science found that half of college students own four or more credit cards.

But should students’ new lifestyle include credit cards?

Once upon a time university quads were lined with folding tables piled with “free” Frisbees, T-shirts, and water bottles given out in exchange for a credit card application — just sign at the X.

“Typical college students make very attractive customers for credit card companies,” said Leah Hampton, a CPA from Lexington, Kentucky. “Most college students think about the here and now, and are not focused on their financial futures.”

Today, thanks to 2009’s CARD Act, students must now demonstrate financial capability or have a creditworthy co-signer in order to get a credit card, but the requirements are still lax.

“I've heard stories about students listing their student loan availability in the income section and getting approved, " said Mitchell D. Weiss, who teaches a financial literacy course at the University of Hartford in Connecticut. "I've heard about students asking friends and relatives to cosign."

Your college kid, in other words, can probably get a credit card if he or she wants one. And it may not be a terrible idea. Credit cards provide a backup plan for emergencies, and allow students to build a credit history.

The question is, What can a parent do to mitigate the dangers — the debt and bad credit scores — that can haunt the student, and parents, for years after graduation?

One strategy is to arrange for a secured credit card, which is like a prepaid card, but which allows the students to establish “credit-creds.” (Make sure the bank that issues the card reports to a credit agency, so a credit history is created.)

Parents can also give the student an authorized card on the parent's existing account, with certain safety measures in place. The student's card number should be different (in case it's compromised) and a maximum charge should be established.

For students over age 21, Weiss recommends two credit cards: one for routine charges that are within a student's monthly budget and can be settled without carrying a balance, and a second card for emergency expenditures that may have to be carried. “That way, routine charges won't incur interest costs and the emergency expenditures can be settled over a reasonable period of time,” said Weiss.

Be aware of other cards your child may have, like debit cards that go with his or her new checking account. Make sure they set up overdraft protection as a safety net for those adjusting to the concept of balancing a budget.

Students also need to learn to protect their valuable new information. Marian Merritt, a
Norton Internet safety advocate, points to unfamiliar Wi-Fi hotspots and unsecured dorm rooms as places where login credentials and banking transactions can be intercepted by hackers.

Your child's financial education, experts say, is like other steps to adulthood parents need to attend to. According to a recent survey of more than 1,000 college students by CreditDonkey.com, only 63 percent said their parents helped them learn about managing their money, whereas 82 percent taught them how to drive.

“Until more parents teach their kids about money, I recommend a graduated path from cash, prepaid, ATM, authorize, cosign, secured, to unsecured credit cards,” said Charles Tran, founder of CreditDonkey.

Until the student "graduates" to an independent card, watch them carefully. Giving a student a credit card “doesn’t mean they have unilateral control over their purchases,” said Steve Trumble, president and CEO of American Consumer Credit Counseling. “If the parents’ money is involved, or a parent cosigned for the card, then the parent has every right to set limits. It’s important for parents to monitor their kids’ spending to make sure they’re using the credit card responsibly, especially when they first go away to college.”

“Also, students should keep up with their finances as carefully as they would their schoolwork," says Creditcard.com.

That presumes, maybe optimistically, that college students are paying sufficient attention to their studies. "If all else fails," Creditcard.com says, "they should use cash.”

Original post:http://www.cnbc.com/id/49259514/