Awareness about how much certain things add up and careful budgeting can make a difference in a college student’s financial health. Here are five habits college students might have that, if broken, can save them a lot of money over time.

Buying New Textbooks

If you’re going to be a freshman, don’t simply wander to the university book store and buy every textbook at full price. The cost of books can add up to an almost staggering amount, as upperclassmen have realized by now.

In fact, according to research from Student Monitor, students at four-year institutions spent an average of $534 on books during the 2010-2011 school year. Furthermore, 49% of textbook spending was on new books.

Instead of buying brand new books, Forbes recommends asking people who’ve already taken the class about whether required books were used often. If they were only necessary on occasion, borrow those from someone who’s taken the class already. If this doesn’t work, try getting an earlier edition as long as the material isn’t different. When a class is over, sell the book immediately, as they lose value over time.

Eating Junk Food

Next time you’re picking up the phone to order pizza, think about this: The publisher of FinAid.org told Fox Business that if a student buys a pizza once a week off-campus, the student will have spent $2,000 on pizza after four years. It’s probably not your intention to spend two grand on late-night snacking, but this is the perfect example of how costs can add up.

Instead of spending money on pizza and fast food, try to take advantage of your kitchen (or community kitchen if you’re in a dorm). Nurse practitioner Robyn Kievit told Fox News that she recommends students have kitchen supplies that will help them make basic meals. Some of these items include:

• Cutting board
• Spatula
• Medium cutting knife
• Wooden spoon

Students should also make a list before they go grocery shopping so that they’re able to stick to a budget. Taking actions like this can help with excessive spending on food items.

Buying Coffee Each Morning

College can take a lot out of you, and if you’re the type of student who needs a coffee fix to make it through the day, you might want to brew it at home. Say you’d usually spend $2 on a cup of coffee a day. That adds up to $60 a month. If you’re in college for eight months out of the year, that adds up to almost $2,000 over the course of your college career.

If you’re thinking about it in terms of an entire year, you’d spend about $62.05 a year on making 6-ounce cups of coffee at home, according to Daily Finance. If you opt for the grande coffee from Starbucks every day instead, it could add up to about $835.85 a year. When you zoom out and think about the total cost, doesn’t it make you want to buy a coffee machine?

Swiping Your Credit Card Constantly

According to Sallie Mae, average graduating seniors with at least a single credit card had $4,138 in debt on that card. When you take out credit, it’s important to do so responsibly — getting any sort of money loan should be for emergency situations or when you know you can pay it off.

An MSN guest post offers advice for college students who feel like they can handle the responsibility of using a credit card. Some tips include only using the card for emergencies at first and then moving up to making small purchases that can be paid off right away. This type of credit card activity can help you build credit.

Driving Everywhere

If you decide to bring your car to school, you may be surprised about how much money you might be spending just to drive around. The average household spent $4,155 on gasoline in 2011, and while you won’t be considered a household, you can divide that number by 4 and still end up spending about $4,000 on gas during your four years at college (and over the summer).

But you already knew gas was expensive. If you consider gas and additional costs (like insurance and other expenses), the average car that drives for 15,000 miles a year costs about $8,776 each year. And that’s not even taking campus parking costs into consideration.

If you live near campus or on campus, you might want to take advantage of public transportation. Some colleges, like the University of Florida, allow students to take the city transportation for free as long as they have their student ID cards. Find out if your college offers similar services to spend less on driving.

Conclusion

There are plenty of ways to save money in college, but the key to realizing this is paying attention to how much money you spend weekly, monthly, and annually on certain goods and services. Create a budget and keep track of where your money goes in order to better manage it.

The post How to Save 10k During College by Changing These 5 Habits appeared first on Mobile Loans - Line Of Credit.

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Make a list and stick to it

You’re going to have to make more than just the typical grocery list this time. For one, keep track of what goes in and out of your cabinets to better narrow down what you need. While you’re at it, why not make a meal plan? Setting up a consistent plan for eating will take out the hard work and save you that precious time you need for those busy days.

Don’t neglect to eat a little something before you go shopping so you aren’t drooling at food that wasn’t on your list. To cheat the list would be to cheat yourself. Just be careful about your grocery spending, and never buy more than you actually need.

Don’t slam on the gas pedal

Gas is a notable expense for many, and when you’re busy a car goes hand in hand with those pesky errands. When you’re trying to get to work on time and you left late, don’t jam the pedal to the metal. It has been shown that revving your engine repeatedly can burn away enough gas to reduce your car’s fuel economy by 2 mpg.

Even when you do run out of gas, try to see if there’s a cheaper gas station than the one you always go to. Typically the prices are competitive, and you might be able to find fuel that is just a bit cheaper.

Hit the lights on your way out

Okay so maybe you don’t do it for the environment, but you should consider your wallet before you leave that powerstrip on in the living room. Energy that is used by a device when it is idle can really add up. Consider attaching the majority of your devices to power strips that can easily be shut off by the flick of a switch.

Don’t let your money fall into the $3 billion pool that Americans pay for energy every year.

Pack your own lunch

Don’t bother spending all that money on eating out if you don’t have to. Make your lunch at night, throw it in the fridge and grab it the next day on your way out. Just because you can’t stop at your favorite restaurant that day doesn’t mean you won’t be eating the way you’d like to be. You can customize your meals to your liking while saving money and time.

You can also pack one of your expertly made sandwiches and not even have to bother with that lunch line ever again. If you eat at that fast food restaurant down the road from the office 5 times a week at $5 a meal, you’ll be paying $1,300 a year just for lunch.

Scrap the high cellphone bill

Do you actually need to have Internet on your phone, or can you live without it? Would you rather check email on your phone, or can you simply do it from your computer? These are questions you should start asking yourself when evaluating your phone bill. Rather than get Internet or data on your phone, consider using it strictly for calls and texting.

It won’t be as convenient, but at least your friends will stop asking you to look up YouTube videos while you’re hanging out. Also, if you’re more of the business type, and that hefty bill is a requirement of the job, at least make sure you’re making an informed decision and don’t just say “give me it all.”

Conclusion

Money comes and goes, just like any busy person does throughout the day. But it doesn’t have to stay out of your pocket. Make a list of your expenses and take off anything that doesn’t sit well with your budget plans. You might be busy, but you’ll also be thankful to save some money while you’re still scurrying during your everyday activities.

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Credit: kawanetw/CC license

What Are Mobile Wallets?

Near Field Communication, or NFC, is the key to mobile wallet success. When an NFC-enabled phone is tapped on a checkout terminal, it transfers necessary information to the machine to allow you to pay without carrying cash, credit cards, or anything but your phone. The technology essentially turns your basic smartphone into a virtual payment system.

Interestingly enough, despite privacy and security concerns, NFC is more secure than your credit card because, if your phone is stolen, all the information can be erased remotely in a matter of minutes. This provides a level of security that is simply not possible with a credit card.

Another big advantage of the mobile wallet is that you can receive offers and discounts directly to your phone, letting you know when you can save money. Not only does this offer companies a whole new method of marketing, it provides consumers with new ways to receive coupons and special offers.

All that being said, adoption of this new technology may be slow. While around 141 million people had made mobile transactions by the end of 2011, the vast majority of those were exclusively to transfer money. Researchers estimate that it will take about four years for mobile payments to really take off and become generally accepted.

Credit: orphumw/CC license

Choosing a Mobile Payment Option

What should you be looking for in a mobile payment option? As more and more services appear, selection is key if you want the best service.

Look at what options are available for payment. For example, Google Wallet allows you to use Google’s PrePaid Card, which can be loaded with any major credit card. This is a quick-and-easy method to use, but some mobile wallets may offer more limited choices. If this is the case, you want to be sure that you have access to your cards for payment.

Security is also important. Check to see if the wallet uses a password. You will also want to review the various security features that the wallet service offers, to be sure you’re getting the best possible.

 Credit: Images of Money w/CC license

What Are Your Choices?

At the moment, the field is still not overwhelmingly large. Here are a few of the options for mobile wallets that are available at the moment.

My Visa Wallet: Top credit card companies are a sure bet for this type of service, and Visa is one of the early adopters of cell phone technology. Using My Visa Wallet, you can use your mobile to pay for products and services from participating companies with your Visa card.

Google Wallet: As of December 2011, Google Wallet supported the use of two different credit cards, the Google PrePaid card, and most MasterCards that are Citi PayPass eligible. For those with another type of credit card, it’s relatively easy to load the Google PrePaid Card with another card. This can be installed on any Android phone and used at thousands of locations, including Home Depot, McDonalds, 7-Eleven, Toys“R”Us, and Chevron, to name a few.

Paypal Wallet: It shouldn’t come as much of a surprise that the online payment processor is in on mobile payments as well. Paypal allows you to pay with your Paypal balance, credit card, or a debit card. You can even change the way you want to pay after the fact. So, if you decide that you want to pay with a debit card instead of your Paypal balance once you have completed the transaction, this is completely possible, making for a more flexible experience.

Sprint Mobile Wallet: The popular telecommunications company makes it possible to pay participating merchants via your cell phone. It offers one-click payment using your registered account information to make it very simple to pay the bills.

Other mobile wallets are coming onto the market throughout 2012, giving consumers a wider range of choices for their cashless spending.

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Social media allow us to connect with people all over the world, but it also allows us to connect and follow stores, restaurants, spas, and other brands that we like and want to engage with. These companies often share coupons and discounts with followers or fans, so why not take advantage of it?

Facebook

Other than Liking the profiles of your favorite bands and witty pop culture references, do you follow any pages from which you actually benefit?

If you don’t, it’s time to start making the most out of your Facebook experience. Think about which restaurants you eat at often, clothing brands you favor, and other activities you participate in with friends and family. It’s possible these companies have pages with a wealth of discount information.

Check out Outback’s Facebook page, for example, where there are plenty of discounts that exist and don’t require anything to receive other than simply knowing they exist!

(Credit: Outback’s Facebook Page)

Because access to this information is free, there’s no reason not to check it out. In fact, a recent study shows that the chance of getting special offers and discounts is the main reason people Like Facebook pages.

Twitter

Following certain Twitter accounts can be just as useful as Liking pages on Facebook. Many different businesses offer company info and coupons via Twitter, but it’s not just limited to stores and restaurants.Try using Twitter to get awesome travel deals, as well.

Mashable recommends investigating your favorite hotels’ and airlines’ Twitter accounts to see if they offer deals, and that JetBlue and Virgin Atlantic have been known to post good discounts. Mashable also mentions some good aggregator accounts that hunt for good airfares and share them with followers (like@airfarewatchdog).

(Credit: @airfarewatchdog)

American Express® recently took discounts to a new level. Cardholders can sign up for a service that syncs their cards to Twitter and gives them access to exclusive discounts from various businesses, including McDonald’s®, Best Buy®, and Whole Foods Market. Participants tweet a specific hashtag related to the deal, and the savings are credited to their American Express statement.

Foursquare

Facebook and Twitter are great places to start, but Foursquare is another great tool for getting good deals (if you don’t mind taking the extra step of checking in). Many types of businesses use Foursqare to easily offer deals to people who check in. For example, Bay Area Rapid Transit randomly gave out train tickets to Foursquare users who checked in at stations.

Just like American Express is expanding the Twitter discount method, Walgreens is doing the same for Foursquare. For people with an iPhone, BlackBerry®, or Android™ phone, they can check into a participating Walgreens and instantly download the discounts to the phone, complete with a scannable barcode.

Conclusion

If you’re familiar with social media (and even if you’re not), it might be worth taking the time to search your favorite brands and retailers to see if they have profiles and what they offer on their pages. U.S. News recommends making new accounts for bargain-hunting purposes only so your personal accounts aren’t flooded with commercial messages.

If you’re looking to save even more money, check out the DIY & Crafts section of Pinterest, where you can learn how to make all kinds of typical buys at home instead of spending the money at the mall. As you can see, there are many different routes you can take to save money on social media. What deals do you know about? Which pages and accounts do you follow?

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Many of the world’s biggest companies wouldn’t even exist if it weren’t for business loans. While they may be great now, these businesses started out just like thousands of others, struggling to raise the capital to get their ideas off the ground.

1. Starbucks

These days, you can find a Starbucks just about anywhere in the nation and even abroad. The company started, however, with investments of $1,350 from each of the three founders. Jerry Baldwin, Zev Siegel, and Gordon Bowker took that small amount of money and set up shop as Starbucks Coffee, Tea and Spice, selling coffee beans and teaching their clients how to grind it for fresh-brewed coffee at home. They later took out a meager $5,000 bank loan to keep things going. In the 1980s, the company began to make and sell drinks, and the rest, as they say, is history.

2. Apple

Steve Jobs and Steve Wozniak are practically household names, as is the company that the two founded back in the 1970s. However, the extremely popular iPad and iPhone would never have made it without a little help in the beginning. A man named Markkula invested $92,000 and helped the Steves get a bank loan of $250,000. With that money, the company went on to make technological history.

3. Wal-Mart

According to Entrepreneur.com, Sam Walton’s journey to success was a long one, funded by others from the beginning. He started out with just $5,000 of his own savings and a $20,000 loan, which he used to buy a Ben Franklin variety store. When he later refused to sell the business to his landlord, his lease was not renewed, and Walton was forced to relocate. He set up his new business in another town and spent the 1950s buying stores with his profits, along with some more borrowed money. In 1962, Walton mortgaged his house and borrowed even more money to open up the very first Wal-Mart. When he died in 1992, Walton was worth $25 billion, and his stores had already surpassed Kmart and Sears, establishing Wal-Mart as the nation’s biggest retailer.

4. Constant Contact

Constant Contact is well known as an email marketing company, but they also offer social media marketing, event marketing, and surveys, among other tools. The company works with small businesses to help them build relationships with customers and increase sales, and none of it would have happened without a little extra help. While the company launched in 1998, it didn’t go big until it received a $1 million investment from SBIC Hudson Venture Partners II in 2002. From 27 employees, Constant Contact expanded to more than 300 and drastically increased its value to more than $400 million.

Photo Source: http://www.sxc.hu/photo/1164856

5. Whole Foods Market

While Whole Foods Market is now a renowned natural foods store that can be found across the country, it started out small. Back in 1978, Rene Lawson Hardy and John Mackey had to borrow money from friends and family to make their dream a reality. That borrowed money, combined with their savings, helped them get their business off the ground, though it endured a rocky start. By 2008, the company was worth $6.5 billion in revenues.

6. Sony

Akio Morita and Masaru Ibuka founded their business, Tokyo Telecommunication Engineering Corporation, shortly after World War II. The company was started by using $500 in borrowed funds. This allowed the men to establish a small office with 20 employees in a burned-out building. Despite humble beginnings, the company managed to grow bit by bit, and eventually, in 1953, Morita bought the rights to a transistor, which would set the pace for his business in years to come as they turned out a range of transistor radios. The company’s name was changed to Sony Corporation in 1958 and continued to grow over the years, producing an ever-growing range of electronics.

7. Pfizer

Charles Pfizer and his cousin Charles Erhart began the now-famous pharmaceutical company with a $2,500 loan from Pfizer’s father. That loan started the men on their journey. Their first product, a tastier form of a common anti-parasitic, was a hit, and they were off on the road to success. Innovative products like camphor, cream of tartar, and iodine were the basis of their ongoing success, which has brought the company to present day, where it rests firmly within the top 200 of the Fortune 500.

Not all of these business loans came from banks. Some companies were started with money borrowed from friends and family, while others began with small amounts from local banks. However, they managed to get the money together for their startups, and all of these companies can trace their success back to the financial aid they received early on.

The post 7 Historic Loans That Were Totally Worth It appeared first on Mobile Loans - Line Of Credit.

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Food and Drink

Have you ever been out for a walk without your wallet and wanted nothing more than a bottled water from a soda machine? If you’ve got your phone, you can make that purchase, at least in Korea. Tesco Homeplus brings the grocery store to the subway, where many citizens of Seoul spend their time on daily commutes. Simply by swiping your phone across a QR code, the purchase price is deducted from your bank account, and the goods are delivered to your home. Here’s a demonstration of how this works: YouTube.

The closest we’ve come to this in the United States is Starbucks’ iPhone app, which allows you to pay for your double-shot grande latte with your phone, where your Starbucks card is linked. There’s also the BarTab app, which lets you buy drinks at participating bars and share your purchase on Facebook.

Photo Source: http://www.sxc.hu/photo/1377498 w/Royalty Free License.

Instant Gift Cards

Rather than having to wait for a gift card to be sent in the mail, smartphone users can now purchase and use them instantly from their phones using Cardpool Mobile. You can literally be standing in line to check out, find a discounted gift card, and save on your purchase. This app ties the online and offline shopping experiences together.

Photo Source: http://www.sxc.hu/photo/1260396 w/Royalty Free License.

Anything That Takes Google Wallet

The sky could be the limit on what your phone could buy if Google has anything to say about it. The Internet mogul launched its mobile Google Wallet payment platform in 2011 and started a campaign to get retailers to set up the hardware it takes to accept mobile payments. As more phones offer the app, we may see wider adoption of this service in places like grocery stores, retail shops, and fast food restaurants.

 Photo Source: http://www.sxc.hu/photo/1193021 w/Royalty Free License.

A Line of Credit

It’s hard to imagine your mobile phone as a lender, but that’s exactly what Mobiloans wants it to be. The company plans to release a mobile line of credit app for the iPhone in early 2012 that will make it easy to get funds on the go – to be used only in emergencies or other dire situations, of course. This is likely to be the first, but not the last, in the lending industry to go mobile.

Photo Source: http://www.sxc.hu/photo/1364680 w/Royalty Free License.

A Bike, an Apartment, or a Grill

If you like browsing Craigslist or eBay listings, you can also take them in your pocket and buy items from your phone. Craigslist’s app for both Android and iPhone lets you search by category or area so you can find local deals on the go. Using eBay’s app, which is available for most phone operating systems, you can buy items using your existing eBay account or even scan a barcode in a store to compare it to prices on the auction site.

Photo Source: http://www.sxc.hu/photo/1328469 w/RoyaltyFreeLicense.

Why We’re Not Seeing More of This in the U.S.

Mobile payment apps have taken Asia and Europe by storm, yet it’s still only drizzling here in the U.S. The reasons we’re not able to buy more with our phones? Many speculate that it simply takes too long to get widespread adoption. For example: Customers won’t download an app and enter their payment info if they can only purchase items at a handful of grocery stores. And grocery stores don’t want to spend the money it requires to upgrade their hardware if only a handful of customers use the mobile payment app.

Another potential reason (though this hasn’t deterred mobile payments’ success elsewhere) is the concern about identity theft. When phones become wallets, what’s to stop a thief from taking advantage of the personal info he can find in your phone?

Mobile industry experts also ask: Who pays for the mobile payment service? Should it be the end user or the retailer? What about the phone manufacturer or wireless provider? Until this question is answered, growth in this area will remain sluggish in the U.S.

Photo Source: http://www.sxc.hu/photo/1369221 w/Royalty Free License.

Why We Buy (Through Our Phones)

As consumer behavior shifts around the technologies that make things easier to do (like shop), we begin seeing real value in the tools we have. Google research shows that more than half of smartphone users who research products on their phones buy them, whether that’s in the store (40%), online (35%), or directly through their phones (20%).

This creates quite an opportunity for retailers, both brick-and-mortar and online, to reach even more customers through their phones. For consumers, it gives us even more access to the products we want – and we want them now!

The post 5 Things You Thought You Couldn’t Buy from a Mobile Phone appeared first on Mobile Loans - Line Of Credit.

Travel

While you’re welcome to that well-earned fun after a hard day’s work, you certainly should be careful with your budgeting. If you live in certain areas, you may see toll roads or parking lots that require payment for leaving your vehicle there. Many GPS devices have the ability to help you avoid taxed roads without requiring that you travel too far out of your way.

Many cities offer free public parking in various areas, though it’s not always possible to find an open space. Even if you can’t avoid the parking situation in some areas, you should at least try to find the cheapest garage or lot near your destination. The average car costs around $9000 to own each year, and every little reduction in cost helps.

If nothing else, consider purchasing a bus or metro pass to save on gas and any other expenses related to car ownership. This can save on your commute to and from school, work, and anywhere in between.

Food

While eating out is a pleasant break from eating at home, you should only occasionally spoil yourself with that treat. If you do plan to eat at a restaurant, do some research and try to get a coupon or discount of some kind. Some financial institutions are beginning to offer various reward programs for simply using their services, which could save you money in the long-term.

Don’t always throw away your receipts from various grocery stores. Coupons called Catalinas are often printed on the back of the receipt paper. There are many companies that offer printable coupons, so you can plan your trips to the grocery store without having to see which product is cheaper as you shop.

Clothes

It’s hard to turn down that beautiful dress that sits in the window at your favorite store, but you have to resist. If you have the choice, avoid that part of town if you know you’re going to splurge and can’t stop yourself. Even if you absolutely have to buy those new shoes, there are options out there for you. Some stores offer expensive brands or similar variants for a fraction of the cost and have a spectrum of different styles.

Money

It may sound ridiculous that money could cost you money, but in some cases it can. The average overdraft fee can be between $30 to $35 and can completely demolish your savings or checking account if you aren’t careful with your spending. Around 90% of overdraft fees are paid by 10% of any given bank’s customers; the majority of these people are in poverty.

If you’re the type to manage your money and balance your checkbook at the end of each day, then you shouldn’t fret. If you have a credit card, make sure you pay the correct amount each month and put in a little extra if possible. This will ensure that you pay off your debt a bit quicker and hopefully with as little accrued interest as possible.

Conclusion

Whether you’re looking to start up a serious savings account or keep your current account at a high number, you should be mindful of your expenses. Even the smallest things in your life can cost a great deal of cash over a long time. A good rule of thumb is to never spend money you don’t have.

The post Every Day Expenses That Deplete Your Savings appeared first on Mobile Loans - Line Of Credit.

If you’re worried about how you can get enough money to go on your ideal vacation, just remember that little changes can make a big difference. Do-It-Yourself projects can save you money and get you one step closer to achieving your financial goals. Here are five DIY projects worth checking out.

Summer Wardrobe

When it’s warm, that fancy sweater you bought in the dead of winter has to be stored away and forgotten. It’s fun to shop for summer clothes, but the cost can start to add up, and there’s no point in having a bunch of summer clothes but not being able to afford any summer activities.

Instead of spending your savings on a dozen tank tops, make them yourself! DIY tank tops are easy, fun, and very useful. There are breakdowns online, like this one from Annie Spandex, that don’t even involve sewing. You can turn T-shirts lying around into fashionable summer wear in just a few steps.

If you’re more savvy with a sewing machine, this tutorial on how to make awesome dresses for less than $6 could save you a ton of money if you’re a chronic shopper. Next time you’re at the mall, think about what you can make on your own and how you can apply that money to your vacation fund.

Beach Trips

(Credit: NeilsPhotography via CC License)

Just because you still haven’t officially planned your next vacation doesn’t mean you can’t save while you’re taking trips to the beach in the meantime. Stop splurging on expensive beach chairs and accessories in preparation for summer — take a look at some of these easy DIY projects instead.

Beach chairs can be pricey, especially if they’re “stylish.” Luckily some crafty people have come up with ways to make their own, like ModHomeEc. And if you want to save even more money, Martha Stewart has a ton of great summer DIY projects you can try, including DIY beach bags.

Spring Cleaning

If you’re still stuck in that spring-cleaning phase and can’t seem to find an end to the dirt and clutter, you might find yourself spending a lot of money on household cleaning products. It’s an unavoidable expense, right? Well, not necessarily.

The DIY Network presents another alternative for the cleaners out there: DIY cleaning products. Not only could this help you save money, but it’s also an environmentally friendly way to go. Now that you’re cutting down on the money you spend on necessary chores, how else can you save some cash?

Nickels and Dimes

Even saving coins can go a long way. While it obviously won’t pay for an airline ticket or hotel stay, it can definitely help with minor expenses, like going out to eat or buying souvenirs. However, if your change is scattered around, on your floor, or under the couch cushions, it will be a bit difficult to gather it together and make it useful.

Instead, try organizing all your change with these fun coin holders that are easy to make and won’t cost very much. DIY piggy banks that are divided into each type of coin also can help you save while also organizing all the change for easy conversion. Turn those coins into cash you can use on your next trip!

Fun Budgeting

Okay, so “fun” and “budgeting” generally aren’t used together in the same sentence, but there are some things you can do to inspire yourself to save. And who doesn’t want a little more spending money lying around?

Instead of only using boring spreadsheets and online programs to keep track of how much money you’re allowed to spend for different reasons (rent, groceries, gas, etc.), you can create (or download) easy-to-make financial envelopes, like these from Money Saving Mom, to take actual cash and get a more tangible feel for how much money you have and what you can spend it on. This can help you keep from splurging and set your finances on track for the summer.

Conclusion

There are all kinds of routes you can take to save money and start planning an awesome summer vacation. Whether you’re looking to cut back on money you spend for daily household projects or simply trying to refrain from dropping all your spending money on amazing beach attire, there are tons of awesome DIY projects out there you can use to cut back spending. Many of the ideas above, and a ton of other projects, can be found on Pinterest, so go hunt for some good DIY ideas!

The post 5 DIY Projects That Will Help You Save For Your Summer Vacation appeared first on Mobile Loans - Line Of Credit.

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Preparation Is Key

If you are “temporarily destitute due to unforeseen circumstances,” the U.S. government advises that you contact the nearest embassy or consulate. Or you can contact the Office of Overseas Citizens Services through the Department of State. Consular officers can help you contact family, banks, or an employer to arrange for funds to be sent to you.

In addition, the federal government recommends that travelers take steps to prepare before an overseas trip. Travelers should sign up for the Smart Traveler Enrollment Program (STEP) through the U.S. Department of State. STEP allows travelers to input travel information so that, in the event of an emergency, travelers can be assisted by the State Department. Those living abroad can join STEP to get updates from the nearest U.S. embassy or consulate. Many doctors or hospitals located overseas require payment in cash at the time of service, so travelers should ensure that they have adequate health insurance.

Photo Source: Alberta Motor Association w/CC License

ATMs, Credit Cards, and Debit Cards

Strapped for cash? Consumer Reports recommends that you get cash from a bank ATM near where you are staying. Using an ATM is a secure way to get a decent currency exchange rate. Also, alert your bank that you will be traveling, so that your account is not flagged for unusual activity on your credit or debit card.

If you use an ATM overseas, you will be charged a “foreign transaction fee” per Fodor’s Travel Intelligence site. Fodor’s recommends not using your credit card for a cash advance, except in emergencies, due to the high fees and rates, and only using a debit card for cash withdrawals and not purchases.

Photo Source: JMR Photography w/CC License

Transferring Funds Overseas

When circumstances arise where you need money, family and friends may be able to help you. USA Today’s Travel recommends transferring money to overseas travelers through a PayPal® transfer or Western Union® money transfer. Bear in mind that fees or service charges may apply, and that funds may not be available the next business day.

The U.S. government will allow you to open a secure account so that family and friends can transfer money at a cost of $30. Once you know that you have run out of cash on your travels, you will want to contact family members in the U.S. to arrange a transfer of funds. Once the money is available in the account, U.S. citizens may visit the embassy to get the money. The money is transferred to the account through Western Union® or via mail. Requests are processed during normal business hours from 8 a.m. to 8 p.m. EST.

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Loans

Just because you’re abroad doesn’t mean you can’t get access to loans. For example, Mobiloans is a flexible line of credit designed for people on the go. You can use a Mobiloan to handle a cash emergency when you’re caught without money overseas. Mobiloans have flexible payment options and no hidden fees.

To obtain a Mobiloan, U.S. citizens need a social security number and a U.S. bank account. Once you apply online at Mobiloans.com, you will be notified immediately how much cash you can get. In most cases, cash will be available in your bank account the next business day. In the coming months, Mobiloans will be offering an app for iPhone and Android™ phones to make the process even more convenient.

When traveling overseas, plan ahead. Carry plenty of foreign currency or traveler’s checks. Check on overseas bank fees for ATMs and other transactions. In addition, alert your bank of your travel plans so that your debit and credit card charges are not flagged as inappropriate.

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