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07/21/11--11:00: Put Your iPhone to Work, Money-wise, With These Apps (chan 1811682)

Filed under: Technology, Apple, Economizer, Family Money, Personal Finance, Saving Money

You already know your iPhone can check email, take photos, watch movies, play music, save money, and oh yeah, make phone calls. But did you know it can also deposit checks, calculate the correct tip in a French café, and file your taxes? Here are six apps that make managing your money fun.


Deposit Checks

Schwab (free): I just deposited a check with my phone. How great is that? Using Charles Schwab's mobile app, I simply snapped a pic of the front and back of the check, and it was in my account just hours later. It's so much fun that I want to write a bunch of checks to myself just so I can deposit them. Schwab's app also lets me do lots of other nifty things, like check my account balances, transfer funds, and trade stocks. Not a Schwab customer? Many banks offer free mobile apps with some or all of the same features.

Organize Receipts

Receipt Loader (app is free; requires monthly plan starting at $7): If you travel or entertain often for work, this app is a lifesaver. Using your iPhone's camera, you just take a photo of your receipt and Receipt Loader identifies the key information and stores it for you. When it's time to submit that expense report, just export into one of several file types or email directly from your phone. You'll never forget an expense or lose a receipt again! The monthly service plan isn't cheap, so this app is really best for those who regularly deal with expense reports.

Mobile Receipt (free for up to five receipts per month) is good for those who don't need such a robust solution. It has features similar to those of Receipt Loader, minus the automatic data recognition.

Keep Your Spending in Line

Mint (free): Hate to budget? Me too, but Mint.com makes it as pleasant as possible, and its companion mobile app makes it convenient to boot. Both the Mint.com account and the Web app are free, and setup takes just 10 to 15 minutes. Mint taps into your banking and credit card accounts and tags your expenditures according to categories that you set up. The spending categories are completely customizable, so along with boring necessities like gas and groceries, you can track spending on anything under the sun -- like shoes, lattes, and concert tickets. Your account balances update automatically, so you can get an up-to-date snapshot of your finances anywhere, anytime -- like when you're pondering a new pair of heels -- to make sure your actual spending stays in line with your plans.

Make Taxes a Breeze

TurboTax SnapTax (free to download; $20 to file): SnapTax is aptly named -- if you qualify (1040-EZ filers, I'm talking to you), you literally snap a photo of your W-2, answer a couple of quick questions, and the app files your return. Download your form for your records and sit back and wait for your refund to arrive. It really is a snap!

Put Your Kids to Work

iAllowance ($3.99): There are so many great free apps out there that it's rarely worth paying for one unless it's (1) really fun (e.g., Angry Birds HD) or (2) solves a serious problem. On that second count, I can happily recommend iAllowance for anyone who has kids who want to buy stuff. iAllowance creates accounts for each money-grubbing little one, which you can customize in a number of ways to fit your family. Set up a regular allowance, chores they can do to earn extra cash or time on the Xbox, long- and short-term savings goals, and more. Next time they ask for that video game, action figure, or -- in my daughter's case - a pony, you can whip out your phone to show them the money (or lack thereof).

Act Like a Local

GlobeTipping ($0.99): Did you know that tipping in Japan is considered an insult? Or that you're expected to tip on your first drink in a Canadian bar, not wait until you close out the tab? Another handy problem-solving app, GlobeTipping, is a must for any world traveler, whether you're just heading to Paris for a long weekend or globe-trotting for a month. Save yourself from embarrassment, confusion, and bad service with GlobeTipping's guidance on a wide range of potential tipping situations around the world.

For even more handy money management tools here are seven free apps that saved us nearly $70 instantly.
Motley Fool writer Robyn Gearey owns none of the companies mentioned in this article. Motley Fool newsletter services have recommended buying shares of Charles Schwab.




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08/05/11--07:00: LeaseTrader.com Hopes to Help Drivers Find Better Leases (chan 1811682)

Filed under: Technology, Economizer, Saving Money

With the help of sites such as Cars.com, AutoTrader.com and eBay Motors (EBAY), car buyers have been able to comparison shop across states for several years. Now, LeaseTrader.com wants to offer the same transparency to drivers looking for a good deal on a car lease.

Sergio Stiberman, CEO and founder of LeaseTrader.com, says it can be difficult for drivers to get information on leasing terms, in some areas, so that they can find the best deal. In some states, "there are a few franchises that control the whole market, so consumers end up paying more for lack of strong competition," he says. "When you do call dealers in your area, none of them like to give you upfront information. They all ask you to come in."



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Before launching its new service this week, LeaseTrader.com focused on matching car-lease shoppers with consumers who want to escape their leases. But adding dealers to the mix expands it from car-lease swaps into new leases.

Dealers pay a monthly fee to get their leases included on the site, so users don't get to see the entire marketplace of leases. The site has just 10 dealers participating so far, Stiberman says, adding that it's "aggressively pursuing more."

Still, the site gives users the opportunity to score better deals, and -- at minimum -- get more insight into pricing to help negotiate with their local dealers.

Cross-Border Deals

For example, consider a consumer who searches the site for a 36-month lease on a BMW 535i with $1,000 down and 10,000 miles. At Momentum BMW in Houston, the cost is $869 per month, compared to $636 per month at Orange County BMW in Harriman, N.Y. (When shoppers click "select," the dealer contacts them directly.)

If the dealer is out of the lessee's area, he or she would have to pay shipping costs -- which typically range from $500 to $700, depending on the location -- to get the car. But in many cases, including in the above example, the lessee could make up those costs in just a few months.

Christine Kick, business development manager at Orange County BMW, says the dealership frequently leases to out-of-state customers. "We just have to apply that particular state's taxes and register the car to their residence," she says. "We can do everything over the phone, although some customers choose to fly in, spend the weekend in New York City, and drive home."

Providing the ability to comparison shop for leased vehicles across states is a unique service, says Jesse Toprak, vice president of industry trends with TrueCar.com, a publisher of new-car transaction data. "You could potentially go around and gather the information on your own, but that's not really practical," he says.

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08/05/11--07:05: How to Get Rewards for Paying Your Electric Bill -- and Avoid Fees (chan 1811682)

Filed under: Energy, Economizer, Family Money, Saving Money, Credit Cards

The downside to blasting the air conditioner all summer is a monster utility bill at the end of the month. During the hottest times, a medium-sized home with central air conditioning in Phoenix, Ariz., can generate a monthly electric bill of between $250 and $300. (Check out this free tool to compare your own utility bill with your neighbors'.) Nationwide, the average monthly electric bill is $116, according to utility analysts Chartwell.

So why not make that big electric bill work for you? Devotees of credit-card rewards programs use bill paying to their advantage, earning points for every dollar they spend.

No-Fee Payments with Discover

More than 90% of utility companies offering credit-card payment options, according to Chartwell, but most are done through a third-party vendor that charges a convenience fee, which can range from $1.50 to $6.95. Less than half of the utility companies surveyed by Chartwell offered a fee-free card acceptance program and of those, only three were large investor-owned utilities. Most were small, rural electric cooperatives or municipalities.



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Online bill-pay platform ChargeSmart, which processes payments to more than 500 utilities, is now offering no-fee payments for customers using Discover Card to pay their energy and water bills. The card's consumer-reward program is one of the top ranking for credit cards.

But if you pay with plastic, there is one catch: Consumers who don't pay their credit-card bill in full each month end up paying interest on the bill. Not a good thing.


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08/08/11--05:30: Clark Howard's Cash-Saving Tips for 'Living Large in Lean Times' (chan 1811682)

Filed under: Columns, People, College Finance, Economizer, Saving Money

Be still, our cheapskate hearts: Clark Howard, the HLN TV host and ClarkHoward.com founder who parlayed his frugality into millions, has come out with a new book called Living Large in Lean Times (Avery Penguin, $18).

Simply put, Howard believes you can get rich off the money you don't spend. How deep does Howard's thriftiness go? Well, Howard would probably rather feed a rabid squirrel than a parking meter.

The lengths he has gone to avoid parking fees constitute the "dumbest thing" he has ever done in his skin-flint life, he tells DailyFinance. In one year alone, he had his car broken into five times because he insisted on parking in sketchy neighborhoods where parking was free.



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Recently, in Manhattan, the Atlanta native and resident left his car on a block in the East 80s, where the parking was gratis. That time, a thief didn't get him. Horrible luck did. A window fell from a condo 40 stories up and smashed into his car. "If that's not karma telling me my cheapness is too extreme, what could it be?" he says.

Howard came by his penny-wise ways as a young adult. He had been growing up on "the silver spoon plan" until his father was fired and told him he would have to earn his own way through college. He re-registered as a night student and got a full-time job.

Older, but Miser

After building wealth in the travel business, Howard began spreading the gospel of economy. He says he hopes readers of his book will immediately apply his advice to put $200 to $300 a month back into their family coffers. He lives what he preaches, too, rigging his Prius to get 110 miles a gallon. (His wife owns two Mercedes.)

Some of the bigger Living Large budget tips revolve around auto ownership, one of the great cash-suckers out there if you're not careful, Howard warns. As a general rule, he urges consumers to hold on to their new cars for 10 years -- and used cars for four years -- to earn early retirement. He isn't kidding. You'll save so much money, he says, "You'll have five more years of watching your neighbor go off to work while you goof off."

Here are five other suggestions from the book, which includes includes more than 250 tips on saving money:

1. Shake the ink cartridge: Your printer's ink cartridges often indicate they're empty when they're really as much as 60% full. Give 'em a good jiggle for a few weeks' more use.

2. Go to community college: By all means, get your four-year degree from a hoity-toity institution, but spend your first two years at a community college, where you'll save tens of thousands of dollars. The sheepskin will still say Harvard or whatever. (Another option: Graduate in three years instead of four.)

3. Get free home-phone service for life. Ooma, a gizmo into which you plug your Internet cable and your phone, is a gateway to free phoning forever. You can get it at Costco Wholesale for $179, according to the book.

4. Dry your razor blades. It's not the shaving that's wearing out your blades, it's the moisture, Howard discovered. He used one 17-cent disposable for a year, every day. Try it. Blow-dry the blades or wipe them carefully with a towel. Just what Schick (SCHK) and Gillette (G) want to hear, right?

5. Cut pills in half and ignore expiration dates, when you can. Many drugs are potent up to five years past their expiration dates, although you should definitely consult with your doctor to check on your specific expired drug before taking it, the book cautioned. And if a prescription is cheaper in higher-milligram doses, ask the doctor for the economy-size pills and cut them in half to fit your needs.

"I'm trying to get people to rethink how they can live their lives," says Howard, a 56-year-old father of three who was diagnosed with prostate cancer in 2009.


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08/09/11--08:00: Shoppers to Name Their Own Deals on oBaz (chan 1811682)

Filed under: Technology, Economizer, Saving Money

Tired of getting offers for daily deals that have nothing to do with your real life? Now shoppers can join forces and create their own wish list of money-saving deals.

Launching Tuesday, Chicago-based oBaz (short for online bazar) gives consumers a way to name their own deals. The new marketplace reverses the standard operating procedure for businesses, which often use promotions -- including special offers through Groupon or LivingSocial -- to get new customers in the door or to move seasonal merchandise.

Putting Buyers in the Driver's Seat

With oBaz, promotions filter from the bottom up: A group of moms can rally together for discounted baby gear, for example, or students can band together to get a deal on test-prep courses.



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When 25 people or more join a prospective offer, oBaz's team of hagglers get to work to seal a deal for the group. Integration with social-media sites, such as Facebook and Twitter, make it easy to build a group. Once an offer is inked, it's available exclusively to the group members, which receive an email about the deal.

"OBaz is entirely buyer-driven. We're here to help you find what you're looking for, not just push what today's advertiser is offering," co-founder and CEO Brian Ficho says. " It's in our best interests [to get good deals]. The better products we get, the better redemption rates we have."

Venture-capital group LightBank, created by Groupon co-founders, apparently sees the site's potential. OBaz received seed funding from the group in June 2011.


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08/10/11--07:00: 8 Tips for Cost-Effective Dating from The Millionaire Matchmaker (chan 1811682)

Filed under: Columns, People, Economizer, Saving Money, The Price of Fame

Even though she's The Millionaire Matchmaker, Patti Stanger knows how to have a good time on the cheap. Stanger, whose fifth season of Matchmaker premieres on Bravo on Monday before returning to its regular Thursday slot on Sept. 1, offered The Price of Fame some dating tips for love-seekers on a budget. (Keep in mind that whoever asks for the date pays for it.)

1. Reasonably priced yummies go a long way. One millionaire on the show confided that he loved See's candies, a mid-priced chocolatier with a cult following out west. Stanger, also a fan of See's, encouraged the rich Romeo to buy a box for his date. A 1-pound box of See's nuts and chews costs about $15 in the store. A 1-pound box of, say, assorted Godiva chocolates can run up to $50. The queen of reality-show courting saved the millionaire -- and now you -- about $35.

2. Be creative. Unless you're a royal prince, as is one contestant this season, pick a venue that shows off your initiative more than your bankroll. Stanger recalled a spot off of I-95 in Fort Lauderdale where she used to lie down and feel the landing and ascending airplanes move over her body. Complemented by a bucket of KFC and drinks, that was an evening's entertainment and a fun way to get to know someone. Economical dating "is about doing those cool and out-of-the-way things," Stanger says.


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3. BYOB. Pick a place where you can bring the wine. Even better, let it be Two Buck Chuck, the Trader Joe's pocket-change vino marketed under the name Charles Shaw. Stanger adores the stuff. If you go to a restaurant, be advised that industry-wide markups average about 75% over retail, according to winemag.com. In other words, you're not getting out of your meal for less than $25 on your bar tab alone. Stanger just saved you another $23. Hey, Patti, ever consider the personal-finance biz?

4. Scour papers and blogs for free and low-priced events. Free concerts, art exhibits, plays and old art-house movies can do the trick. You'll get props for your thoughtfulness when you bring a picnic. The beach is an option, too. The average price for a concert ticket has climbed to $31.57, according to digitalmusicnews.com. That's up to $31.57 (or $63.14, if you'd be paying for two) more for you to keep in your pocket.

5. Resist the temptation of coffee, lunch or an after-work drink. Yeah, they all cost less than dinner, but you'll lose a potential relationship. "Romance is the key to dating," she says. "You can't get romantic on a coffee. A drink is an audition. Lunch is an interview. Brunch and dinner are romance." Even in urban areas like Los Angeles, where Matchmaker returns after a year in New York, you can find great brunch places that won't break your piggy bank.

6. Show off, but only in the right setting. It's free and it puts you in the best possible light. "If you sing, sing," Stanger says. "If you dance, dance. Show me your assets, baby. If you're muscular, wear a tight shirt." That doesn't mean you burst into song in the middle of a quiet cafe. Find your moment, like singing along to the radio or at a club. A professional golfer once took Stanger on a date to a miniature golf course. After a much-publicized broken engagement last summer, she is seeing a "starving artist" who is making her a painting. "You want to show that you're different than everybody," she says. "It's about the inner you." Stanger, however, has strict advice for magicians tempted to strut their stuff: Don't. Just don't. "I don't like magicians," she says. "They're creepy. Let's keep that in the box."

7. Don't put yourself in a position to look cheap. It's the biggest turn-off of all, Stanger warns. If you can't afford to be somewhere, don't be there. Stanger says a date once pulled up in a Porsche and requested that they split a tasting menu for one. Stanger's response? Neh-eh.

8. Don't talk about money. At all costs. Never thought you'd read that in a personal-finance column, did ya? We're not sure this tip will save you money, but it will save your dignity.


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08/11/11--08:45: Best Back-to-School Savings Tips From Moms Around the Country (chan 1811682)

Filed under: Google , Target Corp, Amazon.com, Office Depot, Retail, Barnes & Noble, Books, Consumer Ally, Economizer, Family Money, Personal Finance, Saving Money

Fall clothes, No. 2 pencils, book bags, magic markers ... the back-to-school shopping list can quickly grow out of control and overtake the family budget. So we asked moms around the country for their best money-saving tips on everything from school supplies to brown-bag lunches. We want to hear from you, too! Share your best school-related cost-cutting tips in the comments section below.

6 Ways to Keep School Clothing Costs Under Control

"Many schools have used-uniform sales, where thrifty parents can snag gently used uniforms for a bargain. Our preschool is selling their winter sweatsuits right now for $1 -- buy one get one free!"
-- Daniele H., mom to a 2.5-year-old

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"Go through Ebates.com to shop with online retailers (including Lands' End, L.L. Bean, The Children's Place, Hanna Andersson, Gap (GPS), Old Navy, etc.) and get cash back on your purchases every quarter. I've gotten nearly $200 in cash back, in the two years since I joined, on purchases I was already making!"
-- Marisa S., mom to a 5-year-old and a 2-year-old

"My kids always grow so much over the summer, so when school comes around, we are usually scrambling for long shirts and trousers that fit my oldest. And, of course, this is the worst time of the year to buy new clothing! Instead, I stock up on basics in the next size or two up during end-of-winter clearance sales, so I always have something on hand that will fit."
-- Siobhan G., mom to a 5-year-old and a 7-year-old

A few other tips from moms:

• Buy uniform basics for less at Target (TGT) and Old Navy. If your school requires special emblems, see if you can order those items from Lands' End, where patient parents can save during the 30% sales offered a few times a year.
• It's still warm through mid-September around most of the country, so hold off on fall clothing buys until then to get the best discounts.
• Organize a kids' clothing swap at your church, office, or around the neighborhood. Participants simply bring outgrown clothing and take items they need. Anything left over gets donated to charity.

4 Strategies for Stretching Those School-Supplies Dollars

"For back-to-school supplies, I always use Office Max (OMX) or Office Depot (ODP) because they always have coupons (be sure to sign up for their email lists) and they offer free delivery for orders over $50. Office Max is great about matching prices too, so if you use the coupon in the store and bring in a circular from another retailer, you can get prices matched and use the coupon."
-- Sondrah L., mom to a 14-year-old, a 10-year-old and a 19-month-old

"Spend more money upfront on a high-quality backpack that will last several years. I also stock up for the next year when supplies go on clearance. Last, try not to wait until the last minute to buy supplies. School starts on Wednesday and I still can't find dry-erase markers. Just the gas alone means that I spent more than what I would have saved waiting for a sale."
-- Sumer R., mom to a 7-year-old, a 4-year-old and a 22-month-old

Other ways to save:

• Check to see whether your state offers a tax-free holiday and plan your shopping accordingly to save a little extra. (Connecticut, Florida, Louisiana, Maryland, Massachusetts, and Texas all have one over the next couple of weeks.)
• Score deals on well-made backpacks from Lands' End and L.L. Bean during clearance sales. One mom got personalized backpacks and lunchboxes from Lands' End for her two kids for under $20!

A Smart Way to Score Bargain Books

"If you have a smartphone or e-reader, you can save on books by buying the digital version, which is usually less than the print book. Classic novels that are out of copyright are available for free in e-book format through Amazon (AMZN), Google Books (GOOG), Barnes & Noble (BKS), and others -- a great money saver for all those English assignments!"
-- Amanda B., mom to a 20-month-old

• Another tip: No e-reader? Check half.com for super-cheap prices on used books.

Brown Bag It for Less

"Just packing lunch instead of buying it is a huge savings for us. I also try not to pack too many perishable things, so if he brings home something untouched, I can pack it again the next day. Also, reusable containers save money and they're green. Oh, and don't buy individual size packages, it's much cheaper to buy in bulk and divvy it up yourself."
-- Shannon W., mom to a 7-year-old and a 4-year-old

• Another tip: My second-grader wasn't thrilled about switching from cafeteria lunches to brown bagging it until I offered to split the savings with her as long as she packs her own lunch. Now, I save time and we both have a little extra cash!










Motley Fool contributor Robyn Gearey does not own shares of any company mentioned. The Motley Fool owns shares of Google and Gap. Motley Fool newsletter services have recommended buying shares of Google and Amazon.com and writing call options on Office Depot.





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08/11/11--10:00: Which Fast Food Coffee Gives You the Best Buzz for the Buck? (chan 1811682)

Filed under: Starbucks, McDonald's, Retail, Video, Economizer, Food, Saving Money, Features

For years, Dunkin' Donuts reigned supreme as the king of fast-food coffee, towering over a field of lesser brews. Then, one day, Starbucks (SBUX) came along with pricier gourmet options, and the the war was on.

Recently, as the two waged their bitter battle to become the country's caffeine champion, McDonald's (MCD) entered the fray with McCafé, a brave attempt to muscle in on America's growing taste for premium coffee. Proclaiming the delicious flavor of its McCafé specialty coffee blend, a brew that "comes from Brazil and the mountains of Sumatra, Guatemala and Costa Rica," the clown and his cohorts have transformed a coffee field that was once easy to navigate into a desperately complicated mix of flavors and prices.





To get a better idea about which coffee is best -- and which offers the best bang for the buck -- we decided to conduct a semi-scientific survey of the big three: Dunkin' Donuts, McDonald's and Starbucks. Posing as normal customers, we picked up a few cups of large coffee at each restaurant and served them to 10 tasters that we randomly chose from The Huffington Post/AOL newsroom. To make things even more interesting, we also tested out our own office coffee. Consider it a sort of control group.

In terms of price per ounce, the three competitors were fairly close: Dunkin' Donuts, the cheapest, cost $0.103 per ounce, while McDonald's weighed in at a slightly more expensive $0.105 per ounce. Starbucks was the most expensive, priced slightly more than $0.12 per ounce.

And the Winner Is...

But that extra 2 cents per ounce went a long way. Our tasters described top scorer Starbucks as "Nutty and smooth," "A solid cup of coffee," and "Delish!" Some felt that it was slightly weak, but it was far and away the most popular brand, easily eclipsing AOL's (AOL) house coffee, which took second place.



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McDonald's came in for far harsher treatment: the more positive reviews noted that it was "slightly nutty," "not too bitter" and had a "sour start, but decent aftertaste," but the majority of commenters were more critical. The most consistent complaint was its lack of flavor. One reviewer asked, "Was that actually coffee?" Another opined: "It might just be water."

But even McDonalds' tough treatment paled in comparison to the torrent of abuse that faced Dunkin' Donuts. The most positive comments merely noted that it was "acidic" and didn't have "much punch." Two other reviewers independently described it as "gross," while another complained that it was "sour and smells strange." It was also attacked as being "super bitter" and "too watery."

Factoring in both cost and flavor, Starbucks still retained its top position: it scored almost twice as high as Dunkin' Donuts and easily outpaced McDonald's. However, for those who are pinching pennies, McCafé appears to be an acceptable option. As for Dunkin' Donuts, the former leader clearly needs to reconsider its recipe if it wants to stay in the game.

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.


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12/14/11--05:00: Tweak Your Major, Transform Your Job Prospects (chan 1811682)

Filed under: Economizer

This is a tough time to graduate from college. While unemployment is high across the board, recent grads face a brutal 9.3% unemployment rate -- the highest that statistic has been for them since the Great Recession began. Worse yet, studies have shown that fewer than half of recent college students are finding jobs that relate to their majors, and just more than half felt their jobs made use of what they learned as undergrads.

So how can college grads improve the value of their high-priced degrees? The simple answer lies in choice of major. Some majors, like mining engineering, have extremely low unemployment rates, while others, like library studies, are practically a one-way ticket to joblessness.

Most students tend to pick a major based on their own skills and passions -- what they're good at and what they enjoy. But there are ways to do that and also chose a good one for finding a job after commencement. By weighing the skills required for various majors, the unemployment rates of their graduates, and the salaries a particular degree are likely to lead to, it's possible to avoid some nasty surprises when graduation comes.

To simplify the process, we've looked at a few of the highest-unemployment majors and offered some options that use the same skills but offer much better odds.

Passionate About Psychology ... ?

For students hoping to get a job immediately after graduation, psychology is a tough bet. Most jobs in the field require a graduate degree, and students who don't get into those highly competitive programs often find themselves searching fruitlessly for work. In fact, four of the 10 majors with the highest unemployment rates are psychology-related, and jobs for them tend to offer comparatively low salaries.

... Consider Educational Administration or Nursing

But if you like helping people deal with their physical or emotional problems, there are several other majors that are likely to help you find work at a reasonable salary. On the clinical side, nursing has a 2.2% unemployment rate -- one of the lowest -- and an impressive $60,000 median salary. Alternately, if you'd prefer to work with children, educational administration has a 0% unemployment rate and a median salary of $65,000; another option, student counseling, offers unimpressive salaries -- the median hovers around $20,000 -- but also has an enviable 0% unemployment rate.

All About the Arts ... ?

There's a reason the "starving artist" is a cliche: Arts students top most lists of the least-employable college graduates. Even commercial art and graphic design, generally regarded as the most functional of the fine arts majors, has a shocking 8.1% unemployment rate, and other fine arts majors range between 7.4% and 16.2% unemployment.

... Think Art Education

This isn't to say, however, that all artists have to starve. If you love art and are devoted to human expression, art education can help you scratch your creative itch while putting you on the track to a solid career. Language and drama education, for example, have 95% employment rates, among the highest. Meanwhile, art and music education offer even better odds: Only 4.2% of grads are unemployed. And while not especially lucrative, both lead to solid $41,000 median salaries.



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Are You a U.S. History Buff ... ?

Georges Santayana famously wrote that those who forget the past are condemned to repeat it. Unfortunately, those who dedicate their college years to remembering the past may be condemned to work at McDonald's. U.S. history majors have the third highest unemployment rate: 15.1% of them can't find jobs after graduation, and their colleagues in general social sciences face a similarly high unemployment rate. General history students do a bit better, thought their 6.5% unemployment rate -- while comparatively enviable -- isn't stellar.

... Apply It to the Future in Public Policy

But for those with a social science mindset, there are majors that offer a more promising future. Public policy, for example, has only a 2.2% unemployment rate. Paired with an impressive median salary of $65,000, it offers a secure option for would-be history majors. For those who'd prefer to stay in the classroom, majors in social science or history education are also in demand. Only 3% are unemployed, and the $45,000 median salary is reasonable.

There's No Money in Being a Bookworm ...

Though it's thought of as one of the classic "unemployable" majors, English isn't actually such a terrible move: While its 6.7% unemployment rate isn't ideal, it still places English grads far above the pack. For that matter, philosophy -- also a classic unemployment major -- has a 7.2% unemployment rate, which is still better than the average for college grads. Not all aspiring wordsmiths are so lucky: Linguistics and comparative literature majors face a daunting 10.2% unemployment rate, while 8.4% of general humanities majors and 7.7% of composition and speech majors can't find jobs. As for those who love to organize books, library science majors face a daunting 15% unemployment rate.

... Except When There Is!

But there are also some attractive options for book lovers. While foreign literature isn't too attractive, foreign language studies majors do very well: Only 5.9% can't find a job. Overall, though, education is the best bet: Majors in general education, secondary education, primary education and teacher education face unemployment rates that range between 1.1% and 4.2%. And, with median salaries in the low $40,000s, these majors offer a decent return on the cost of a college degree.

What about all those poor library science majors? For those who like to work in schools, educational administration and supervision majors have 100% employment and a $65,000 median salary. On the other hand, those who love organizing knowledge could try information science: People who choose this major have a reasonably attractive 5.9% unemployment rate and an impressive $71,000 median income.

The high unemployment rate among college majors is brutal, but may ultimately be a mixed blessing. For decades, employers have emphasized specialized skills, while the education system has encouraged students toward more generalized areas of study. Students willing to spend a little time researching their options may find that a tough job market could be the impetus for a more secure -- and higher-paying -- future.

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.


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12/16/11--03:00: Your 'Free Shipping Day' Cheat Sheet (chan 1811682)

Filed under: Barnes & Noble, Economizer

It's coming down to the home stretch for holiday shopping, which means if you need to ship presents, you'd better have a game plan by now -- especially if you want to take advantage of Free Shipping Day -- today, Dec. 16.

Nearly 2,000 merchants are offering free shipping with delivery by Christmas Eve (with some restrictions) in the continental United States. Some are even sweetening the deal with one-day savings offers.

FreeShippingDay.com offered DailyFinance an early preview of what it considers retailers' "top offers," reflecting the biggest value to consumers relative to other promotions being offered on the site, and versus the discounts these retailers typically offer.

We've added in some extra tips to help you plot your shipping strategy for the remainder of the holiday season.

Stores Sweetening Offers

o. Lands' End is slashing merchandise by 40%, in addition to waiving the shipping fees on all orders.

o. Express is offering 30% off clothing and accessories, $25 off orders of $100 or more with a coupon code, and free shipping on all orders.

o. The Children's Place (PLCE) is offering free shipping on all merchandise, plus 25% off the order.

o. Jewelry retailer Ice.com will ship any order for free and shave 30% off the total cost.

o. Eddie Bauer is selling merchandise at 40% off, and offering free shipping on orders over $49.

Maximize Free Shipping Day


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o. Buyer--or shipper--beware. "Don't assume that just because a website is participating in free shipping day you will receive the gift by Christmas," Jeanette Pavini, money savings expert with Coupons.com, tells DailyFinance. "Do your homework before clicking 'purchase' and find out when their cutoff day is."

o. Opt for retailers that offer free returns as well as free shipping, so people can easily return gifts. "Usually these retailers will ship gifts with a prepaid return label," Pavini says.

And if You Missed Free Shipping Day ...

o. Check out sites like Coupons.com and RetailMeNot.com, which offer free shipping codes at a variety of retailers.

o. For those procrastinators who want to make sure their gifts arrive by Dec. 25, some stores offer free shipping coupon offers as late as Dec. 21 with guaranteed delivery by Christmas, according to The Offers.com Guide to Holiday Shipping Deadlines.

o. About 180 stores, such as Barnes and Noble (BKS) and Kohls.com (KSS), offer standard shipping with guaranteed Christmas Eve delivery as late as Dec. 21, while more than 150 stores, including Kmart.com and Oldnavy.com, offer express shipping as late as Dec. 21, also with guaranteed Christmas Eve delivery, according to Offers.com.

Get info on stocks mentioned in this article:

• BKS
• KSS
• PLCE
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12/19/11--07:45: Budget-Friendly Last-Minute Holiday Gifts for Kids (chan 1811682)

Filed under: Wal-Mart Stores, Amazon.com, Best Buy, Economizer

It's stressful enough when your kids have a holiday wish list that reads like an alphabet soup of pricey, high-tech gadgets that aren't within your budget to begin with. What's worse is breaking down and running up your credit card balance buying the Xbox, DS, or iYouNameIt at the last minute because you couldn't think of better gift alternatives in your price range.

For those who are doing their Christmas shopping on a tight budget, here are some ideas for lower-cost presents guaranteed to wow the little (and not so little) ones this holiday.




Gallery: Budget-Friendly Last-Minute Gifts for Kids






Check out another gallery, The Worst Gift I Ever Got on DailyFinance.

Motley Fool contributor Robyn Gearey owns shares of Amazon.com and Apple. The Motley Fool owns shares of Best Buy, Wal-Mart, and Amazon.com. Motley Fool newsletter services have recommended buying shares of Amazon.com, Staples, and Wal-Mart, as well as writing covered calls on Best Buy and creating a diagonal call position on Wal-Mart.




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12/19/11--08:35: How to Dodge 4 Expensive December Disasters (chan 1811682)

Filed under: Economizer

A poll conducted a few years ago by the American Psychological Association found that 80% of Americans expect to be stressed during the holiday season. While not a shocking statistic, it's pretty depressing that amid what's supposed to be "the most wonderful time of the year," eight out of 10 of us are tearing our hair out.

One source of stress? Those unexpected costs that creep up on us in December.

This year, don't let seasonal slip-ups shatter your spirits -- or your budget. Here's some advice on how to handle common -- and costly -- December disasters, from gift gaffes to pricey travel trip-ups.

The unexpected gift surprise: With money tight, many of us aren't able to give gifts to everyone we'd like to this year. But what do you do when you're lucky recipient of a gift from someone who didn't make your original list? The typical expert advice is to stock a gift closet with extra wrapped presents, but that's a pricey solution, and chances are, the gift-giver won't be fooled anyway. Simply accept the gift graciously and move on. By not reciprocating this year, you reduce the chances (and the cost) of repeating the awkward one-sided swap again next year.

The out-of-stock overpriced item: That must-have toy your daughter simply will die if she doesn't get? Turns out it's backordered and won't arrive before Christmas. Or you don't have the money just yet -- a common problem for many families this year. Now what?

Relax about the holiday deadline and wait until later.

One big benefit to post-holiday gifting? Rock-bottom prices at the after-Christmas sales. And not having the item on the actual gift-giving day needn't dampen anyone's holiday spirits. Simply print out a photo of the item and wrap it beautifully, along with a note that explains when it will arrive, along with something else fun -- and inexpensive -- for the recipient to enjoy in the meantime. For an older child or an adult, try wrapping up some magazines and favorite snacks along with the IOU.

Costly car calamities: Driving long-distance for your festivities? Consider taking the season as a cue to sign up for AAA. Winter weather can wreak havoc on the roads. You could get stuck spending hundreds of dollars on towing, battery jumps, and, if worst comes to worst, hotel rooms. A little planning ahead helps, too -- factoring long delays that don't materialize into your schedule is far less stressful than the reverse. If your travel route is snow-prone, keep the gas tank full, your cell phone charged, and make sure to have extra blankets, food and water along just in case. You'll be better prepared and prevent having to pay extra for supplies on the road.

Expensive air travel agitation: Delayed or cancelled flights. Surprise snowstorms. Take it from someone who once spent Christmas Eve in a dingy Minneapolis hotel (thank you, Northwest Airlines) -- nothing casts a pall over holiday plans quicker than a travel trip-up. To reduce the chances of travel travails, start by programming your airline's customer service number into your phone before you head to the airport. As soon as it's clear there's a problem, you can skip the lines and rebook over the phone. And know your rights -- you don't want to shell out for food or a hotel room if you're entitled to vouchers. (And even if you're not, asking nicely sometimes works.)

Second, pack a few snacks, an empty water bottle, and a toothbrush in your carry-on so you don't have to pay airport prices. If you're traveling with kids, make sure you add a few little treats and a special toy. If you do get stuck somewhere, those few items will make the delay significantly more bearable.


Motley Fool contributor Robyn Gearey does not own shares of the companies mentioned.




Gallery: 8 Financial New Year's Resolutions You Should Keep












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12/20/11--09:00: What Social Security Gets You: A Minimum-Wage Lifestyle (chan 1811682)

Filed under: Economizer

Millions of senior citizens breathed a sigh of relief when the Social Security Administration announced that due to inflation it would be increasing payments by 3.6% in 2012 -- the first cost-of-living adjustment since 2009.

So what exactly does this increase amount to? Not a whole lot.

The average expected benefit for a retiree in January 2012 is a meager $1,229, and that's including the recent increase. That works out to $14,748 a year, or a bit more than $7.37 an hour for a typical 2,000-hour-a-year job.

That's barely above the $7.25 hourly minimum wage.

(Of course, Social Security benefits aren't taxed unless you have substantial other income, which means it's not a perfect apples-to-apples comparison. But it's pretty close: By the time typical minimum wage earners get their refundable tax credits back, their tax picture looks about the same as a Social Security recipient's.)

Can You Live on Less Than $1,000 a Month?

For those anticipating a retirement financed by Social Security, $15,000 a year is far from enough to lead even an "average" lifestyle.

Wait, it gets worse. That $1,229 a month is what you get before any Medicare premiums are deducted.

Once you deduct the typical premium costs for that subsidized health insurance program for seniors, there is substantially less left over. The table below shows typical premiums for Medicare recipients, above and beyond what they paid in taxes while working to support the program:




Medicare Program	Typical Monthly Premium
Part A	$0.00
Part B	$99.90
Medigap	$164.67
Part D	$39.62
Total Typical Premium	$304.19

Sources: Medicare, HHS, Weiss Ratings, and q1medicare.com.

Subtract that $304 from the average $1,229 monthly Social Security check, and the average retired senior is left with about $925 per month to spend on -- well, everything that isn't health insurance. You know, food, clothing, shelter, transportation, and the other costs of living.

By this point, one thing should be abundantly clear: You're not likely to have much more than a bare-bones retirement if you're planning to live on Social Security alone. And that's even before the Social Security Trust Fund evaporates around 2036, slashing expected benefits by about a quarter.

Kicking the Legs Out from Under Your Finances

Back when traditional pensions were a common employee benefit, the retirement planning was visualized as a "three-legged stool." Social Security provided one of the legs, with your pension and personal savings making up the other two.

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These days, Social Security's problems are well known and private pensions are available to far fewer employees than they once were -- which leaves your personal savings to pick up the slack.

That's not an impossible hurdle to clear if you've got a few decades before you retire. But if you plan to stop working in a time frame measured in years rather than decades, you've got a challenge ahead of you. You'll need quite the nest egg to cover the costs not covered by your Social Security check if you want your money to last at least as long as you do.

How Big a Nest Egg You Need

The most common guideline used to determine the amount of money someone needs in order to retire is based on a formula known as "the 4% rule."

That rule suggests that retirees can spend 4% of the value of their well-diversified portfolio in the first year of retirement, adjust the amount upward by inflation annually, and be reasonably assured that their money will last through a 30-year-long retirement.

Based on that rule, that means your portfolio needs to be 25 times the size of your annual spending not covered by your Social Security checks.

Say you're spending $48,109 a year -- the amount spent by the typical American household in 2010. To keep your current lifestyle in retirement, you'll need a portfolio of at least nearly $1 million, even with Social Security. The table below shows why:



Building Block	Amount
Annual Spending	$48,109.00
Medicare Premiums	$3,650.28
Net Annual Spending	$51,759.28
Social Security	$14,748.00
Annual Expenses Investments Need to Cover	$37,011.28
Require Portfolio Size	$925,282.00

Source: author calculations, based on values mentioned earlier.


It's true that if your house is paid off, your children are grown, and you no longer have to cover the expenses of working, your cost of living may drop somewhat. But then, factor in increased out-of-pocket medical costs, and possibly the desire to travel while you're still young enough to enjoy. Those two items alone could eat all the savings you accrue from the other budget reductions, so you'll still be spending the money -- just in other ways.

So don't count too much on reduced expenses -- or Social Security. You're going to need a jumbo nest egg to enjoy retirement.

For more on managing your money for (and during) your golden years, see:

• "3 Keys to Boosting Your Social Security Benefits"
• "You Can Retire Rich Without Relying on Social Security"
• "Become a Millionaire on a Minimum-Wage Salary"

Motley Fool contributor Chuck Saletta appreciates your comments.



Correction: An earlier version of this article said that Social Security benefits were tax free under all circumstances. Social Security benefits may be taxed in some circumstances, See: http://www.ssa.gov/planners/taxes.htm.




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12/20/11--09:45: Top 10 Private Colleges That Won't Bust Your Budget (chan 1811682)

Filed under: Economizer

You don't have to pay a fortune -- or rely on financial aid -- to attend a top-quality private college or university.

These 10 private schools have the lowest sticker price among Kiplinger's 100 best values in private universities and liberal-arts colleges -- as much as $20,000 below the $37,000 average for private institutions.

Click through the gallery below to see the top 10 most-affordable private colleges. To see the full list of 200 schools, check out Kiplinger's special report on the best private college values.




Gallery: Kiplinger's 10 Top Private Colleges With the Lowest Sticker Price






By Marc A. Wojno, Senior Associate Editor, Kiplinger's Personal Finance




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12/26/11--06:25: Sorry, Santa: Tips for Unloading Unwanted Gifts (chan 1811682)

Filed under: eBay, Economizer

You love Grandma, but you're not feeling that floral jumpsuit she gave you for Christmas. And that gift card from Omaha Steaks won't quite work: Auntie seems to have forgotten that you're a vegetarian.

'Tis the season for unloading those albeit well meaning -- but unwanted -- holiday presents. Here's a few tips to help you get something back in return.

First Try For a Store Return

If you know where the gift giver bought your unwanted present, check the retailers' return policy online or by asking their customer service department.

"Retailers tend to be a bit more liberal with their return policies around the holidays, knowing people get things as gifts and don't have receipts," Sue Perry, deputy editor of ShopSmart, Consumer Reports' shopping magazine, tells DailyFinance. However, without a receipt you likely won't get the cash back, but a store credit instead, she says.

"And one more thing to keep in mind: If the item went on sale, you probably will get the sale price and not the full price the giver may have paid."

Unload Unwanted Gifts on eBay

The most common unwanted holiday gifts are clothing, accessories -- from footwear and handbags to jewelry -- and consumer electronics, Jim Griffith, dean of education for eBay (EBAY), tells DailyFinance.

Here's a basic rule of thumb to follow during the holiday unwrapping fest: "Even as you're saying, 'no, you shouldn't have,'" to the gift-giver, be mindful to open all gifts carefully, keeping the packaging pristine in case you want to return or sell it later, Griffith says. Hold on to the boxes and don't remove the tags.

While this tip might seem like a no brainer, it's one key way "to help you realize better value" on eBay as the more merchandise appears new, versus used, the better it sells, Griffith says.

Clothing

Clothing and fashion accessories that reflect specific tastes - - which might not be yours -- "you either love UGG boots or you don't" -- are big post-holiday sellers on eBay, Griffith says.

That's why listing the size of an item on the site isn't enough. Because clothing sizes varies greatly, include measurements in your product listing to maximize its resale value, he says.

For tops, common measurements include underarm to underarm, and from the top of the collar to the bottom of the hem on the back of the shirt.

Accessories

When it comes to handbags, make sure to show photos of the front, back, sides of the bag, and pictures of any labels, in your listing. Also, "the most common mistake that sellers make is not photographing the interior of the bag," so include that as well, Griffith says.

Sellers also leave money on the table when they post photos of jewelry that fail to capture its sparkle. With jewelry, closeups are important, so use the macro feature -- as opposed to the zoom -- on your digital camera (most cameras have one) which allows you to take a sharp, tight shot of the item from just a few inches away, Griffith says.

Electronics

The online marketplace recently launched InstantSale, a trade-in program designed to help sellers easily purge unwanted electronics for cash. "In a nutshell, tell us what you have, we'll take you what it's worth," Griffith says.

With eBay's traditional selling option, sellers handle the listing and manage their items themselves.

Sellers send their electronics with a pre-paid postage label to the site, and eBay will reimburse the seller through PayPal based on the item's condition. (Sites like Gazelle.com and NextWorth.com also offer shoppers cash or store gift cards for their unwanted electronics, but an eBay spokeswoman said eBay can occasionally offer better value than other programs.)

When listing electronics, include a photograph of the serial number of the item, which helps the buyer validate that the item they've purchased is the same one that appeared in the listing, Griffith says.

Sell, Trade in Unwanted Gift Cards

A hefty $2 billion in gift cards will go unredeemed in 2011, according to TowerGroup, a research firm for the financial services industry.



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But leaving a gift card unused is like throwing money away. Instead, tap the gift card resale market. Sites such as CardCash.com, GiftCards.com, Plasticjungle.com and Cardpool.com will let you sell your card for cash, often for up to 92% of its value, or trade it in for another gift card.

And Dec. 26 is Gift Card Exchange Day -- a one-day event designed to raise consumer awareness about exchanging gift cards for cash. Shoppers can enter the store name and gift card amount on the site to receive instant bids from resellers interested in purchasing their card.

Cash in Those Daily Deals

More consumers gave coupons from daily deal sites like Groupon (GRPN) and LivingSocial as gifts this year. If you received one that you're disinclined to use (maybe that mango and papaya facial just isn't your thing), look to unload it on sites such as Lifesta.com, DealsGoRound.com, CoupRecoup.com and CouponTrade.com, which allows consumers to sell unused daily deals. Sellers can also buy a daily deal they prefer from these sites.



Get info on stocks mentioned in this article:

• EBAY
• Manage Your Portfolio





Gallery: Regifting Gone Wrong






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12/27/11--12:10: Why Your Pension Is at Risk (chan 1811682)

Filed under: Delta Air Lines, Economizer

The recent bankruptcy filing from American Airlines parent company AMR (AMR) could become the latest example of what can happen to workers and their pension plans when their employers go bankrupt.

With AMR's bankruptcy proceedings having just gotten under way, it's too early to tell what could happen to some AMR employees. But past bankruptcies give a roadmap for what can happen to workers anywhere when their employer goes under.

You see, even if a company eventually gets out of bankruptcy and keeps operating throughout the process, its employees may end up with the short end of the stick -- especially those workers expecting a pension check in retirement.

Who Pays Your Pension?

Over the past decade, several airlines, including United Airlines parent United Continental (UAL), Delta Air Lines (DAL), and US Airways (LCC), have gone bankrupt. All three of the companies decided that they would terminate at least some of their pension plans. By doing so, they were able to shift responsibility for making pension payments to the Pension Benefit Guaranty Corporation, leaving the government on the hook for future benefits.

If you don't make much money at your job, then you typically don't notice a big change if the PBGC takes over your employer's pension plan. Among the airlines whose pension plans the PBGC has bailed out, more than three-quarters have gotten their benefits in full.

But if you've risen through the ranks over the course of your career, then you may well get only a fraction of what you expected.

Pension Pay Cuts

For this year, the PBGC pays a maximum of about $54,000 for 65-year-old workers, with younger workers having a lower cap. That's undeniably a nice chunk of money, but for pilots and other mid- to high-level employees, it may be much less than what they'd be entitled to receive under their previous plension plans.

Sometimes, that doesn't turn out as badly as it sounds. For instance, with the US Airways pension plan, retired pilots ended up receiving more than 90% of the benefits they were originally promised.

But when you consider other possible impacts of bankruptcy -- such as reduced or eliminated retiree health-care benefits -- the impact on worker finances can be huge.

Who's on the Hook? Taxpayers

The PBGC is supposed to be funded entirely from two sources: insurance premiums that employers pay, and the assets of the pension plans that the government entity takes over. But usually, the whole reason the PBGC comes in to manage a pension plan is because it's underfunded -- sometimes severely.

For instance, within the four pension plans that AMR sponsors, the plans have a funding shortfall of more than $10 billion, with $18.5 billion in liabilities offset by just $8.3 billion in assets. It's easy to see how just a single big-employer failure can put big financial stresses on the PBGC.

Moreover, just as the weak economy has hurt businesses, it has also left the PBGC with a severe funding shortfall. Last month, the PBGC announced a record deficit in 2011 of $26 billion, the largest in its 37-year history. With an anticipated $107 billion in liabilities to pay pension recipients and only $81 billion in assets to cover them, the PBGC may join the long list of private companies and government-sponsored entities that end up needing a taxpayer bailout.

Protect Yourself

Unfortunately, there's only so much you can do to protect yourself if your employer makes bad decisions about your pension plan. With 401(k) plans and other pension alternatives increasingly becoming the only option for younger workers, the most likely outcome is that most pensions will simply become a thing of the past -- and their last recipients may well consider themselves lucky if they get the full benefits they've earned over their careers.

Motley Fool contributor Dan Caplinger plans to make his own pension. You can follow him on Twitter here. He doesn't own shares of the companies mentioned in this article.

Get info on stocks mentioned in this article:

• AMR
• DAL
• LCC
• UAL
• Manage Your Portfolio




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12/29/11--07:45: Grad School Math: Which Degrees Are Worth the Debt (chan 1811682)

Filed under: Video, Economizer

With unemployment high and wages stagnant, now's a rough time to be entering the job market. Historically, when an unwelcoming economy awaits, graduating college students tend to run for grad school. But the monetary value of an advanced degree varies greatly depending on major, school, and how much debt you take on to get it.

A forthcoming article in the American Economic Journal: Applied Economics outlines the dangers of starting a career during an economic downturn. According to the study's authors, it can take up to 10 years for high-level workers entering the job market in a recession to narrow the wage gap between themselves and their peers who entered in better times. As for less-skilled workers, their earnings "can be permanently affected by cyclical downgrading" -- in other words, a weak start on wages can lead to a lifelong disadvantage.







For most people, the best move is to delay entry into the job market until the economy is stronger and workers are in higher demand. And when it comes to orchestrating that delay, few methods are better than graduate school: Not only does an advanced degree improve employability, but it can also have a huge effect on earnings. In fact, the median salary for someone with an advanced degree is $73,738 -- over $13,000 more than the average salary for someone with only a bachelor's degree.

But not all degrees are created equal. Based on an analysis of Census data, Georgetown University's Center on Education and the Workforce determined that the payoff from a graduate degree can vary wildly, from a 1% salary bump to a 190% wage explosion. And the degrees that deliver most bang for the education buck may surprise you.

On the low end of the scale, the worst graduate major for salary improvement is meteorology, which only improved wage prospects by 1%. Only marginally better were studio arts (3%), petroleum engineering (7%), oceanography (11%), mass media (11%), advertising/public relations (12%), pharmaceutical sciences (13%), forestry (15%), computer engineering (16%), and miscellaneous education (16%). The reasons for the low salary bumps varied: In some majors, such as petroleum engineering and computer engineering, workers with bachelor's degrees already earn high salaries, which aren't much improved with higher degrees. In others, such as studio arts and mass media, the job market is weak regardless of how much education one has.

Degrees That Are Worth the Money (and How to Tell)

On the happier end of the spectrum, some graduate degrees can vastly improve your earnings. The big winners are health and medical preparatory programs, from which graduate or professional degrees can increase salary by 190%. Similarly, social sciences (134%), zoology (123%), molecular biology (115%), public policy (107%), biology (106%), biochemical sciences (101%), chemistry (93%), pre-law (81%) and physiology (78%) majors can all expect to get a major dividend from pursuing graduate or professional degrees.



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The differences are hardly academic: The average undergrad leaves school with more than $25,000 in student loan debt, and graduate students routinely finish with $30,000 or more added on to that tab. Degrees that increase salary by 10% or less can take a long time to start paying off.

When it comes to determining how much a degree is worth, the "starting-year salary" guideline is a good rule of thumb. Basically, prospective grad students should calculate what their expected salary at graduation, then borrow no more than that amount. According to the Student Loan Network, most federal student loans follow a 10-year repayment schedule, which means that students who limit borrowing to a year of salary can expect to dedicate about 10% of their paychecks to paying off their educational debts -- a manageable percentage. By contrast, they note, students who borrow 15% or more stand a much greater likelihood of defaulting.

For some students, such as those in MBA programs, this isn't much of a problem: Average income for MBAs after graduation hovers around $91,000, while the average cost of a two-year program is about $80,000. By comparison, law students face a tougher road: According to one survey, almost 90% graduate with $80,000 in loans, only to land in a glutted job market that pays an average starting salary of $62,000.

For many people, graduate school is a chance to follow their passions and study what they love. But when the biggest dream is finding a job, it pays to choose a degree that the market will reward.

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.




Gallery: America's Top Colleges











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12/30/11--04:00: How to Get Your New Year's Eve Bubbly Without Paying a Bundle (chan 1811682)

Filed under: Economizer, Food

It's not surprising that Champagne is the traditional tipple for New Year's parties: The wine of kings has a luxurious reputation that elevates even the most plebeian celebration, and its cheerful little bubbles seem to promise a bright, sparkly future. But as 2011's annus pretty-damn-horribilis transitions into 2012, it is hard to justify shelling out a small fortune for a bottle of genuine French Champagne.

Still, if the idea of ringing in the New Year with cheap substitutions like J. Roget or Korbel leaves you feeling flat, don't worry: There are plenty of other sparkling options out there.

Prosecco and Cava: The Classic Standbys

Lorena Ascencios, the wine buyer at Astor Wines and Spirits says that, when it comes to great sparkling wines at a great price, the best choices are "Prosecco and Cava, hands down." Prosecco, produced in Northwest Italy, comes from glera or prosecco grapes. "It's a good sipping sparkler," Ascencios notes, with outstanding bottles available in the $10 to $15 range.

Part of the reason that Prosecco is so much cheaper than Champagne lies in its preparation method. Champagne is produced through a process called methode champenoise, in which it's fermented twice -- once in a barrel, and a second time in its bottle. Prosecco also has a two-stage fermentation method, but the second fermentation happens in a large steel tank. Afterward, the sparkly wine is bottled under pressure.



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The Prosecco production process -- called the Charmat method -- costs less than methode champenoise and results in wines with larger bubbles. Ascencios likes Scu Do, which her store sells for $8.96 a bottle, and Mia, which costs $6.96. While these tend to be sweet, some Proseccos are drier: Castelir, for example, costs $16.95 a bottle and offers a more sophisticated flavor.

For those who prefer a more traditional champagne flavor, Cava is also a great option. Ascencios describes the Northeastern Spanish wine as "dry, with mineral flavors more attuned to salty foods, snacks, and seafood." Unlike Prosecco, Cava is often made through methode champenoise, which produces a drier bubbly. Not surprisingly, Cavas can be a bit more expensive, but Ascencios notes that there are some great deals available for under $15. She especially suggests Casteller, which Astor sells for $11.96 a bottle; Naveran, which costs $14.96; and Savia Viva, which costs $8.96.

Find the Real Thing ... for Less

While there are lots of great sparkling wines available for under $15, for some people, only true French bubbly will do. As with any other purchase, brand-name Champagnes often cost more than lesser-known gems. But the price difference doesn't necessarily reflect a higher quality wine. Large Champagne companies often spend a lot of money on promotion, passing the cost on to the consumer. By comparison, Ascencios notes, smaller brands often "are just doing what is second nature to them -- giving phenomenal value for the price."

Some especially good deals include Michel Loriot Blanc de Noir, which Ascencios' store sells for $36.96 a bottle; Pierre Brigandat non-vintage brut, which retails for $32.96 a bottle, and Brigandat Rose, which costs a bit more, at $39.96 a bottle.

Go Farther Off the Usual 'Wine Country' Map

Another method for getting a good bottle for less is to search among more obscure wine-making regions, which often produce outstanding vintages for less than their better-known cousins. For example, Hungary's Torley Winery has been producing sparkling wines since the 1800s, but its relative obscurity means its offerings can be real bargains. Tess Lampert, a representative of the Blue Danube wine company, notes that Torley's Gala wine "offers fruity flavors and loose bubbles," much like a Prosecco. Its Hungaria Grand Cuvee, on the other hand, is bottle-aged -- like a Champagne -- and has a "yeasty" flavor and "tight, small bubbles," much like the French wine.

Vintners from around the world offer sparkling wines that are surprisingly good and surprisingly low-priced. So when it comes to finding a great wine for New Year's Eve -- or for any day, for that matter -- Ascencios offers great advice: "Don't be afraid of something you don't recognize. There are a lot of interesting wines off the beaten path!"

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.





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01/07/12--04:00: Why Dollar Stores Are Hotter Than Ever (Even Among the Rich) (chan 1811682)

Filed under: Company News, Wal-Mart Stores, Dollar General, Economizer

Dollar stores are luring a lot more consumers these days.

While it's no surprise these discount retailers gained popularity during the economic downturn, their rock-bottom prices aren't the only reason for their still growing appeal: Dollar store chains have undergone major makeovers in recent years, sprucing up their dingy digs and adding more compelling merchandise.

"At the start of the recession, they decided they didn't want to be recession-dependent retailers, but that they would become mainstream," Dave Marcotte, senior vice president of market research and retail consultancy Kantar Retail, tells DailyFinance.

The strategy appears to have paid off as the chains, which have long been patronized by the cash-strapped, have managed to capture more business from higher-income shoppers.

For example, Dollar General (DG), which just announced plans to open 625 stores this year, noted recently that its fastest growing customer segment is shoppers who earn more than $70,000 a year. And Dollar Tree (DLTR) was called out by Kantar Retail as one of the country's fast-growing retailers in a December report.

Here's why the dollar chains, including top players Dollar General and Family Dollar (FDO), have become some of the hottest places to shop.

Upgraded Merchandise

Once synonymous with generic goods of dubious quality, dollar stores have made a big push in the past few years to upgrade their product mix with the addition of well-known brands -- from Tide laundry detergent to Kellogg's cereals.

"The addition of national brands brings consistency to the merchandise mix and appeals to brand-conscious consumers," Deborah Weinswig, a retail analyst with Citi, tells DailyFinance.

They've also sprinkled their store shelves with items that have a "wow" factor and can spark an emotional purchase -- what the retail industry calls "treasure hunt" goods -- which has created "a sense of excitement in dollar stores," Weinswig says.

And in their selections of general merchandise, these chains have increasingly moved away from "really cheap knockoff stuff" towards better-quality clothing and home goods. They've also standardized their inventory so that shoppers can expect more consistent product offerings year round.

About two years ago, Family Dollar launched Family Chef, a proprietary line of housewares, including cookware and kitchen gadgets, that marked a major upgrade from its prior "very spotty" offerings, Marcotte says.

Meanwhile, Dollar General added in more national brands like Hanes to its apparel mix, he says.

Compelling Grocery, Drug Store Alternative

Also in recent years, the dollar chains improved their food and consumables offerings, which has boosted foot traffic in the stores, Weinswig says. "They've added coolers, quick prep, and ready-to-eat food."



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The dollar chains are also giving drugstores a run for their money by carrying much of the same health and beauty care products as a Walgreens (WAG) or a CVS (CVS), for example -- but at lower prices, Marcotte says. Family Dollar, for example, is emphasizing those deal with in-store signs that urge shoppers to compare its prices to drugstore prices, he says.

The upgrades are poised to "have the greatest impact on the food and drug retailers, as the dollar stores' convenience and competitive pricing gives consumers another option for making convenient purchases," according to Weinswig's Citi report, "Dollar Stores Well Positioned for Success."

Dollar chains have also given their stores facelifts.

"They've made the stores much easier to shop and simpler to navigate," Marcotte says. Today, many of them "are clean, attractive and well lit."

Convenience Fits with New Shopping Patterns

More consumers are forgoing massive shopping trips where they load up on household goods that will last them a month -- a shift that has been a boon for the dollar chains, Peter J. Keith, senior research analyst for hardline retail and consumer products for Piper Jaffray, tells DailyFinance.

"In terms of the dollar store popularity, I would say the greatest reason is convenience," he says. "Consumers are now preferring to make smaller purchases on a more frequent, as needed basis. This type of shopping lends itself well to dollar stores where you can park right by the front door and get in and out in five minutes. Conversely, a trip to Walmart (WMT) might take 30 minutes with the large parking lot and large store to navigate."

Meanwhile, some dollar chains are becoming even more bargain-conscious in their pricing due to the nation's lingering economic malaise.

Dollar General, for one, has expanded its offerings of $1 priced items in response to "the high unemployment levels among customers without a high school diploma," says Weinswig's report.






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01/24/12--09:45: How to Heat Your Home for Free (or Profit) This Winter (chan 1811682)

Filed under: Energy, Investing, Exxon Mobil, BP, Chevron, ConocoPhillips, Economizer

By Joe Mont, TheStreet.com

Investing doesn't just have to be about increasing wealth. It can also be a means to preserve it.

Successful investors -- from speculative day traders to steadier 401(k) participants, for example -- will adjust their holdings to craft a portfolio capable of meeting or beating the rate of inflation. With the price of home heating oil on the rise, and likely to keep increasing due to global politics, now might be a good time for investors to place a bet on the price per barrel to hedge against the costs of staying warm this winter. As they say: "If you can't beat 'em, join 'em."

According to the U.S. Energy Information Administration, the mild winter thus far in the Northeast, where there is the highest concentration of oil-heated homes, has mitigated some expected cost increases.

The typical household is projected to use about 650 gallons of heating oil this winter, a decrease of about 4% compared with last winter. The cost per gallon will increase, however, averaging about $3.82 a gallon -- up about 13%, according to EIA estimates issued last week. The average home heating bill will total about $2,500 this year, an increase of roughly 8.4%. The good news, thanks to warmer-than-expected weather, is that the EIA initially estimated a 10% jump last month.

Those projections could prove to be moving targets later in the season due to a variety of threats to the world's oil supply chain.

On Monday, the European Union voted to support U.S. calls for a ban on imports of Iranian oil as punitive persuasion to get that nation to back away from an effort to develop nuclear weapons. Iranian officials have threatened to blockade the Straits of Hormuz, the oceanic shipping route for most oil-producing countries in that region.

"If the Straits of Hormuz close, oil will rise above $200 per barrel," warns Chris Faulkner, CEO of Breitling Oil & Gas, an independent exploration and production company based in Irving, Texas. "It is the one bottleneck that allows Iran to choke the West's oil supply."

Seventeen million barrels of oil per day passed through the Straits last year, according to the U.S. Energy Information Agency -- approximately one-sixth of global oil production and nearly 20% of all the oil traded worldwide. Iran itself exports between 2.2 million to 2.5 million barrels a day.

Iran isn't the only hot spot that could lead to tightened supplies and higher prices. Political conflict in Nigeria threatens its output of 2.5 million barrels a day. Tensions between Sudan and the newly independent nation of South Sudan over oil-related transit fees could curtail the nearly 500,000 barrels per day that flows from that area.

Domestically, it remains to be seen whether there will be any price-related pushback to President Barack Obama's refusal to grant a permit for the politically charged Keystone XL pipeline expansion pitched as running from Canada through Montana and Oklahoma to refineries in Texas for export.

Hedge Your Home Heating Bill with Energy Stocks

All that volatility may not necessarily be terrible news from an investing standpoint, especially if your goal is to mitigate that 8.4% price increase for heating your home this winter by betting on companies in the oil business that profit while consumers get hit.

The big oil companies of the world -- ExxonMobil (XOM), BP (BP), Chevron (CVX), ConocoPhilips (COP), Occidental Petroleum (OXY), Devon Energy (DVN), Chesapeake Energy (CHK) and Anadarko Petroleum (APC) -- are well-positioned to benefit when the global commodities marketplace inflates crude prices.

For example, in October, ExxonMobil announced that its quarterly profit of $10.3 billion was up 41% from a year earlier, in part due to rising crude prices. In April, the company's Q1 earnings spiked 69%.

Investing in the top oil companies will also net you a dividend yield that typically ranges between 2% and 4%.



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If these individual stocks are too pricey for your budget, you may want to seek out mutual funds that include some of these top companies among their heavily weighted holdings.

Supply disruptions overseas -- even in the short term -- increase demand for alternative sources, which is good news for companies focused on drilling and exploration. Anadarko, for example, has oilfields in several U.S. States and, further North, Canada's vast oil sands could be a continued boon for Suncor Energy (SU).

North Dakota and Montana are home to "The Bakken," a formation of shale covering about 200,000 square miles that is estimated by the U.S. Geological Survey to have as much as 4.3 billion barrels of potentially recoverable crude. Among the companies working to extract that oil are Continental Resources (CLR), Hess (HES), Oasis Petroleum (OAS), Kodiak Oil & Gas (KOG), Northern Oil & Gas (NOG), MDU Resources Group (HEW), EOG Resources (EOG), Whiting Petroleum (WLL) and Marathon Oil.

Pipeline owners such a Constellation Energy (CEG) may also their stock price rise in concert with oil prices, as could Schlumberger (SLB), the world's largest oilfield services company.

Oil refineries feel the pinch of rising costs per barrel as their costs to buy oil go up even as demand for their finished product drops. Offshore drilling companies such as Transocean (RIG) -- despite the Deepwater Horizon disaster -- and SeaDrill Limited (SDRL) are key players in that arena.

It Doesn't Have to Be Complicated

The simplest way to hedge against oil inflation for most Main Street investors is to consider ETFs designed with that very goal in mind.

In its prospectus, United States Heating Oil Fund (UHN) is described as "a way for investors and hedgers to manage their exposure to energy" and an ETF "designed to track in percentage terms the movements of heating oil prices." Year to date, the fund is up 5.6%, and it saw a return of 15.64% for a one-year period.

The United States Oil Fund (USO) is designed to track the price movements of light, sweet crude oil. Unfortunately its returns have been far from stellar, down approximately 21% so far this year and at -54.5% since its inception in 2006.

Other funds worth investigating are the iPath S&P GSCI Crude Oil TR Index ETN (OIL), SPDR S&P Oil & Gas Exploration & Production ETF (XOP) -- which has a three-year return of over 22% -- SPDR Oil & Gas Equipment & Services Fund (XES) and the PowerShares DB Crude Oil Long ETN (OLO) -- up a slight 0.14% for the year.




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