Why Not Volunteer?

With the sounds of current economic troubles ringing in their ears, quite a few members of Generation Y are faced with quite a dilemma. Recent college graduates, specifically, are feeling the hit. At a time when these individuals usually leave academia behind in favor of a stable career, Gen Y grads are finding that more doors are being closed in their faces than are being opened.

With job competition on the rise, Gen Yers are finding themselves in need of ways to occupy their time while the economy re-stabilizes. Traditional options, such as traveling abroad or going back to school now seem too costly. So, what's a college grad to do-volunteering seems to be the answer.

Groups like Teach for America are reporting a rise in volunteering amisdt the current economic unsteadiness. According to an article by USA Today "[Teach for America] saw applications jump by more than a third this year from about 18,000 to nearly 25,000." The article maintains that this is because teaching is a stable career, as children need to learn no matter what's going on economically. It also notes that the economy is not the only motivation for the rise in applications. It cites the program's growing prestige as attractive to applicants.

Still, motivation to join based on the economy cannot be ignored. With current exchannge rates, travel (a formerly popular option) is simply too expensive for most Gen Y grads and without jobs, more college is practically unaffordable (forget about loans-those wont be so easy for jobless students to get).

If you find this rings true for you, why not take some time off to volunter. Here are some sites to help you get started:

Teach for America

Peace Corps

AmeriCorps

Habitat For Humanity International

Teach for America

"Teach for America Surges on Better Recruiting, Worse Economy"

This article was more about the teach for America program than the volunteering trend, but I still felt it was worth a mention. Some highlights:

• applications jump[ed] by more than a third this year from about 18,000 to nearly 25,000.
  
• Of those, about 3,700 are expected to step up to the blackboard as new teachers this fall. That's up more than 25% from the 2,900 who did so last year.
  
• Several studies have found Teach For America corps members are as effective or more effective than educators who come through traditional teacher preparation programs within colleges of education.
  
• Recruits often have no prior education experience or course work. They get five weeks of intensive training the summer before they start teaching, and then get professional development during the school year provided by Teach for America and the districts in which they work.
  
• Teach For America founder Wendy Kopp said she'd like to see the corps of first- and second-year teachers grow to 8,000 by 2010, up from about 5,000 now.
  

(all of the above information is directly from the article)

I personally think that this is an example of "episodic voluntering." Unless you plan on making teaching your career, there's only so long that you can work with the program (as a teacher). I suppose you could still fundraise and donate though. In any event, the help that these grads are providing can't be ignored.

Peace Corps Volunteer Rates

I had no idea that this information even existed. It's super recent. Click here to view Peace Corps volunteer rates among the country's top universities.

It reflects the information presented in the article from this post about Ohio universities having leading rates of volunteers. Ohio is all over the sheets. Also, states like NY and Nevada are nowhere to be found on the list.

Also, I like the fact that even though this is a year -specific observation there is a historical section to shoe which universities have consistently had alumni join the organization.

Episodic Volunteering?

My last post mentioned a trend called "episodic volunteering." In a nut shell, it can be described as short-term volunteering (sometimes among different charities), rather than committing oneself to a few charities long-term. Episodic volunteers often have busy schedules or other social commitments-sound familiar. I suspect that many college students, myself included can be lumped into this category.

There are three types of episodic volunteering, according to The Points of Flight Foundation:


"Types of Episodic Volunteering

Event based: One-day special events such as the national days of service...

Project based: Projects that occur in the community that are planned throughout the year or are undertaken to address a particular need...

Program-based: Efforts that have an on going need and do not require specialized skills can engage volunteers on a flexible basis... "

They also offer tips in getting started as a volunteer for nay organization. Check them out!

Source: http://www.pointsoflight.org/

A Rise in Volunteering?

Post-graduate volunteering has always been a possibility with younger Gen Yers, but with the currenly competitive/unpredictable job market coule volunteering be on the rise. This article seems to think so.


"College Volunteering Rises Sharply"

Tha article is a bit dated, but only by a few years. Plus, a 20% increase is nothing to scoff at. I'm sort of shocked thatt NY had one of the lowest percentage of college students volunteering. Lots of CUNY and SUNY schools mean that there's plenty of students to do the volunteering. Also, rises began after 9/11 which happened in NYC. Maybe the high cost oythinf living and pressure to work had something to with it. I wonder if current elevated competition in the job market has changed anything...

Source: Boston.com
Photo: www.wppl.org

Don't Stop Spending Just Yet...

Chances are you or someone you know has been affected by the current financial crisis. Maybe a parent’s investments have taken a hit or maybe you’ve lost some money yourself. Regardless, if you’re a member of Generation Y the current crisis might not be all bad. Here’s why:

According to Jeffrey Jensen Arnett, in his book "Emerging Adulthood", instability is one the many characteristics of Generation Y. This instability, he writes, has many applications. Generation Yers, for instance, usually have casual relationships, short-lived jobs and few financial commitments. What exactly does all this mean? Well, while an older individual, say a Generation Xer, might have a new family to take care of or a huge mortgage to pay, the fickle Generation Yer is most likely not accountable for such things.

The younger members of Generation Y, in particular, are not too worried about their financial futures—not their immediate futures anyway. For now, their focus is on spending. Whether this spending is on a costly college education, or something as frivolous as a night out with friends, Generation Yers can afford to splurge, sort of.

One must remember that once it comes time for Generation Yers to enter the workforce and take on the responsibilities of adulthood, the transition will probably be a hard one. These individuals will face difficulties that past generations never had to. The job market will probably be incredibly competitive. Add to that the stress of paying off hefty student loans and all of the debt that they might have accumulated in their youth and Generation Y will have a lot on their plates in coming years.

But for now, Generation Y is free to spend as they wish. Some advice: spend wisely and don’t forget to save. While the state of the economy will probably improve, debt does disappear so easily. You’ll need a backup plan –in other words, savings. Remember this the next time you have the urge to splurge.

For more information, check these articles out:

Why the Financial Crisis is (Mostly) Good News for Gen Y

'We're not worried just yet - we'll still drink and party'

Photo: vtcleancities.blogspot.com

The Lean Green Family's 5 Ways to Be a Frugal Shopper

Check out this awesome post by the Lean Green Family (formerly Suddenly Frugal). Leah offers some great tips on how to shop smart!

You'll learn about shopping with a purpose, avoiding unnecessary returns, not to mention the joys of swapping. Click the link for other great shopping tips.


Source:The Lean Green Family

Photo: http://www.sallysshoppingtrips.co.uk

Fast Food and the Financial Crisis

Thought these two articles were intriguing. Apparently the financial crisis it hitting closer to home than we may have thought. By closer to home, I mean down the street. According to the first article the sale of lattes is related to the financial state of an evonomy. The second reflects on how popular fast food chain, McDonalds, has been affected by the current financial crisis. Take from them what you may...

The Starbucks Recession Indicator

McDonald's to Wait to Sell Angus Burger Nationwide

Source: MSN Money
Photo: waterfootprint.org

Did You Know?

After doing some research, I discovered that MSN Money has a Financial Crisis section. I've never noticed it before and just thought I'd share.

Photo: anu.edu

How to Survive the Next Depression

Liz Pulliam Weston's advice-grow up!

It should come as no surprise that her second tip is to-wait for it-eliminate credit card debt. "Credit card debt is expensive and leaves you vulnerable to the ever-changing whims of credit card companies, which have been raising interest rates with abandon," she writes. She also offers up some other strategies, like having an exit plan and accumulating savings. She also mentions that old school tricks like planning meals are a small but easy way to save. Maybe I was onto something after all...

Photo: telegraph.co.uk

Interview: Hara Glick of MakeupAlley.com

I recently had the opportunity to interview (via email) Hara Glick, founder of the popular makeup swapping site MakeupAlley.com. This is what she had to say...

[Interview Removed at Hara's request]


Thanks again Hara!


...Also, If you haven't seen the site yet, what are you waiting for? Go! I guarantee you'll never be able to buy a beauty product without checking their review section first (I speak from experience).

Image: makeupalley.com

Swap, Don't Shop

The advent of the internet has given the youth of Generation Y an excuse to spend a great deal of time online. So nowadays, when online options range anywhere from social networking to online gaming, members of Generation Y can do just about anything online. If he so chose to, a Generation Yer could literally live, work, and play online without leaving the comfort of his own home. This, however, is a theory saved for another time and another post.

Yet, out of all of Generation Y’s many internet pastimes, online shopping is one activity that has surged in popularity. The lure of shopping online is simple: unlimited browsing, one-click purchasing and, best of all, no pesky salespeople. The downfall, however, is that with the ease of online shopping comes the threat of increased debt.

Savvy Generation Yers, however, have found a way to enjoying the novelty of online shopping without spending a cent. It’s simple, instead of shopping, these individuals have resorted to “swapping.”

Online “swapping” sites are popping up all over the web and Gen Yers are taking advantage. Part of the appeal of these sites is that they not only provide a medium for the exchange of goods, but many also serve as a forum for individuals with common interests to interact. Oftentimes, these sites offer communities and topic-specific forums across which swappers can converse and comment on the latest news and updates in their individual area of interest. MakeupAlley.com is one such site. This online community offers areas for discussions, product ratings and, of course, swapping. Users can also catalog their acquisitions and list items for which they’re willing to trade. Once a transaction is complete, an individual then leaves a swap token, or review, of the trade/trader. Individuals can then look at this feedback left behind by others when considering a trade with the user.

But how exactly does one go about swapping online? Here are some easy to follow steps:
1. Go through your respective collections and find items that you’re willing to get rid of, but others might want.
2. Find a swapping site that caters to your specific area of interest.
3. Set up a profile and list the items that you currently have and those you’re willing to trade for (most sites designate a specific area for this). You may also post pictures of the item.
4. Find takers and begin swapping!
5. Remember to request feedback at the end of all transactions. This is what others will see when considering a trade (the more positive the feedback, the less likely is the chance of encountering a thief , or “swaplifter”).

By swapping, Generation Yers are able to attain the products they desire without having to deal with the debt problems that excessive shopping can create. In addition, they gain an opportunity to interact with other savvy Gen Yers who share their common interests. It’s no mystery why some Gen Yers prefer to swap, rather than shop.



Popular Swapping Sites:
Makeup Alley
PaperBack Swap
Mashable’s “8 Sites to Swap Your Stuff”


Photo: Twenty Three & Enjoting Life

PaperBack Swap

Why didn’t I know about this site sooner? For all you bookworms, this one’s for you.

I continuously beat myself up when I buy a book. I love reading, but books can be expensive, especially newer titles. Also, I never know what to do with a so-so book once I’m done with it. Usually, they end up thrown down somewhere in my basement never to be heard from again.

I’ve determined that on my next visit home I’m going to find all of my lost books and trade them at PaperBackSwap.com. Hopefully, my books will find a new home more befitting to them than an old FedEx box in my drafty basement. And best of all, I’ll get new books for my old ones.

Once again, why didn’t I know about this site sooner?

As for savings, this member testimonial speaks for itself:

“I have been a member since 6/21/05. I have saved over $378.00. I have sent and received so many books I have lost count. What a great site. Keep up the great work that you all do. Now wouldn't it be great to start swapping DVDs. I'm also a member of cdswap.
Patricia M. - NEWTON, MA - 3/20/2007

Quote Source: PaperBackSwap.com


Photo: bookpublishing.com

The Mashable 8

One of my classmates a contributor over at Mashable.com. I don’t know much about the site, only that it’s tech related, but I did run into this post via a Google search. I probably won’t be able to include it in my article, since there’s some payment included when using these swapping sites (I’m working the free angle), but I thought it was worth a post.

Mashable’s “8 Sites to Swap Your Stuff”

Swapping Over Shopping

I think I’ll finally be able to write an article about Makeup Alley. I’ve actually known about the site for years and used it once in high school. I know of many users who use the site as a sort of online store and I think I’m going to work that angle in my article.

I encourage all my readers, especially those interested in health and beauty, to check the site out. It’s a great community! If you’ve got makeup and other beauty products to swap, post them. There might be a few takers.

Also, check out the product reviews section. It’s a hidden gem! Once you start reading it, you’ll never buy a beauty product again without consulting the Makeup Alley Product Reviews. Trust me, I speak from experience.

I’m Giving Up Coffee, Well Buying It Anyway

Still no money spent this week. Whenever I pass a newsstand, eatery or department store I think about how far I’ve come and somehow manage to resist. Since I have to pass through Soho to get to my apartment in Tribeca, I’ve stopped walking down Broadway. Too many shops, too much temptation

I’ve checked my receipts and my average weekly grocery spending is about $18 and I spend about $10 at drug stores and on coffee. So, I’ve saved almost thirty dollars this week. This is of course an experiment and I will still need to buy groceries and the appropriate toiletries, but I guestimate that I can reasonably save about $5+ a week/$20+ a month if I cut out extraneous coffee and breakfast muffin purchases. A step in the right direction, no? Coffeemaker, here I come!

Also, I remembered researching this site for an article that I did for a journalism class last year. It’s called Free NYC. Who knew there was so much to do for free in the city? With the high cost of living, I guess something’s got to give…and free is, after all, my favorite price.

Money Spent Today: $0

Photo: clippernolan.wordpress.com

Goodbye Spending, Hello Meal Plan

Since I’m crazy, I decided that starting on Sunday night, I wasn’t going to spend any money this week. So far not a penny spent, but it’s getting harder. Sometimes I don’t have time to make my meals, but I have a university meal plan and I’ve been taking advantage of that sucker like you wouldn’t believe. I’ll pick up lunch, dinner and dessert in one go and store it in my fridge for future consumption.

Sadly, however, meal plan money does run out so this is only a temporary endeavor. Really, I just want to see if can not shop for a week. It it weird that I’m simultaneously optimistic and skeptical about the prospect?

Money spent today: $0


Photo: nutritionaustralia.org

Do You Hulu?

This afternoon, as I waited in line after one of my weekly Duane Reade excursions, I came across one of the deadly "front-of-the-store displays." You know, they usually have magazines, candy or "other things that you didn’t know you needed, but now that I’m here, I’m like s*** I do need tweezers" (my apologies, but my roommate quotes Dane Cook every other second and now she’s got me doing it too). Let it be known, I don’t think he’s hilarious, but he has his moments…

But I digress. The point of this story was that I had been in the mood for a creepy scary, thriller, Sci-Fi movie to watch and there at the display were 15 or so said films at a discounted price of 2 for $10. I grappled with the pros and cons of purchasing them. On the one hand, they had a few titles that I’d been dying to see and since I left all of my DVDs at home (brilliant!) I did really want some entertainment. On the other hand, I didn’t need them and in the end left the store with my applesauce and tortilla chips and no scary DVDs.

Cut to later on in the evening. I’m watching some clips on Hulu.com and notice that they’ve got a movies section. I assumed that the options would be limited, but no. They had tons of titles, including “When A Stranger Calls,” which I almost purchased earlier on in the day (don’t judge me!).

The moral of the story, don’t spend unnecessarily, even in the event of a sale because there just might be a cheaper option. In this case cheaper meant free, but you get the point.

Amount saved today $10 + tax


Photo: weblogs.newsday.com

Put Down the Credit Card

“I was just supposed to just pass by the Gap, maybe sneak a glance at the window display,” you think to yourself. “What happened?” you wonder as you patiently wait in the line you never intended to wait in holding sweater you never intended to buy. As the line shortens and the sales associate signals for you to approach the register, you panic. You can’t just leave the sweater now, you need it, but you don’t have an extra $50 lying around in your wallet. “No problem,” you think to yourself as you reach into your bag and pull out your shiny gold credit card. “I’ll just charge it.”

It’s the oldest story in the book. Buy now pay later, but at what price? Well, the youth of Generation Y are finding out. Plagued with credit card debt, Generation Yers, on average, owe about $8,200 in credit card debt according to an article by Emma Johnson of MSN Money. The same article estimates that the average college debt is $20,000 and this number is increasing. So why are Gen Yers in so much debt? For starters, there’s Gen Y’s growing reliance on credit cards.

In this fast-paced age where one’s entire life can fit on a microchip the size of a thumbnail, convenience is not an option, it is a necessity. The impatient Gen Yer wants what he wants now, end of story. Credit cards undoubtedly appeal to this immediate urge to have. With a single swipe, any transaction is completed. There’s no messy change to be returned or awkward small talk to be made with the cashier. Yet, as is their habit with most of life's conveniences, like mommy and daddy's money, Gen Yers cannot seem to let go of their plastic enablers.

But what are Gen Yers spending all of their money on? According to a 2006 consumer expenditure survey by the Bureau of Labor statistics, Gen Yers made an average of $29,057 a year before taxes and spent a whopping $28, 131, the largest percentage of any other age group polled. The survey also showed that Gen Y tended to spend more money on apparel and entertainment for themselves and less on things like healthcare and gifts for others. Additionally, of all the age groups polled, Gen Y spent the highest percentage of their income on education (bls.gov).

Perhaps a reason behind the generation’s debt problem is that Gen Yers do not see themselves as financially established at their young age. More often than not, Gen Yers figure that they have their whole lives ahead of them and have plenty of time to pay off their debts. What they tend to neglect, however, are the high interest rates that accumulate over time with most credit cards.

Yet even with high interest rates and mountains of debt, many Gen years continue to assume that if they can’t pay their credit card bills, their parents will bail them out. It is this dependent attitude that is damaging. When Gen Yers take this easy way out, no lesson is learned and the vicious cycle of debt will repeat itself over and over again and eventually they’ll have to pay it back themselves. There is, however, a way to stop the cycle before it gets out of hand. The first step: put down the credit card.

ABC News’ Consumer Correspondent Elisabeth Leamy proposes an
unusual option for those who want to keep at least one extra card around for emergencies but don’t want to be tempted to use it. Her recommendation: freeze your credit card, literally. “Cut up all but one credit card,” she writes. “Then take the lone survivor and drop it in a Tupperware container full of water. Pop the container in the freezer and put your credit card spending on ice! That way you'll have to think about it for several hours if you want to use the card” (abcnews.go.com).

Another option is to use good old-fashioned cash. The limited supply of money forces one to spend only what he has and not a cent more. For emergencies, a debit card may be used. It works just like a credit card, only the money spent is not borrowed, it’s yours. Generally, impulse purchases are not dire enough or large enough to warrant using credit cards, so they can be left at home.

Credit card debt can be overwhelming, but it cannot be left alone. It would be nice to pay off an $8,000 debt at once, but that, of course, is an unrealistic solution. Instead, simply step away from the credit card and examine your spending habits. Instead of racking up debt, pay it off. Once you take responsibility for your spending, you can find your way back to financial freedom.



Currently in credit card debt and want to get out? Check out these sites:abcnews.go.com
Washington Post
Ask YOUNG MONEY

How do you spend? How about your parents? BLS Survey

She paid off her college loans. Find out how she did it:
Fabulously Broke in the City



Photo credit: pobeptsworld.wordpress.com

Progress...

If I'm not tired, I'm hungry and I usually get really cranky when either one gets the best of me. Also, I find that my most of my actions are driven by emotion, meaning that when I'm tired, I buy coffee, when I'm hungry I spend $8 on a salad (noy very budget friendly). So today I set a goal not to spend any money on meals and guess what: I DID IT!

Breakfast: Coffee and Fruit
Lunch: The best salad I think I've ever made
Dinner: Spinach Lasagna (prepackaged, I'm not that kitchen savvy)
Dessert: Strawberries and Nutella (yum)

...and in case hunger hit in transit, the 5 y/o in me packed a snack of Cheerios.

All food: courtesy of my pantry and fridge.

On average I saved about $9.50. And best of all, it wasn't that hard. The only "cooking" involed was boiling some penne for the salad.

The moral of the story: Homemade meals save money. Who knew?