Financial Tips for College Freshman

By: Renee Hanson, Private Wealth Advisor

Financial Tips for College Freshmen

Is your son or daughter about to live away from home for the first time? Here are a few suggestions you can use to help your child get off on the right financial foot.

·         Enroll your child in a personal finance course — Doing so can help him or her learn about basic money management. Even if you’ve been teaching these lessons over the years, the information may carry more weight if it comes from an outside source.

·         Create a budget — To help your child become fiscally responsible, set a budget and discuss your financial expectations for each semester before your son or daughter moves on campus. This will help provide a benchmark for his or her spending.

·         Encourage your child to save — If your child works during the school year, encourage him or her to deposit a portion of earnings into a savings account. This may prevent your child from spending every cent he or she earns, instilling a good lifelong habit.

·         Help your child avoid debt — Credit cards, while appealing, can quickly turn out to be trouble. Encourage your child to only use a credit card when absolutely necessary. Or, purchase a prepaid card and only replenish it at scheduled intervals. That way your child will have an “emergency fund” but also learn to live within his or her means.

·         Set up an organized file for receipts — A system will help your child track what he or she spends and make it easy to locate receipts if something needs to be returned.

·         Purchase used textbooks online — Amazon.com is among the most popular online discount sites for buying used textbooks. In addition to saving money, your child won’t have to wait in long lines at the campus bookstore.

·         Teach your child to cook — If your child isn’t on a campus meal plan and doesn’t know how to cook, sign him or her up for a basic cooking class. You can also work with your child to locate simple and quick recipes he or she will enjoy. Home-cooked meals will be significantly less expensive — and likely more nutritious — than dining out.

You may want to consider monitoring your child’s spending by tracking his or her accounts online. This will enable you to address any minor concerns before they become major ones.

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About Author: Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc. Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles. Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI. Please visit: www.reneehanson.com to learn more.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

Dress Professional & Stay Cool

By Diane McLelland, Our Resident Fashionista

Everywhere you look, you see bright colors this summer season. Colors like hot pink, tangerine, and watermelon have been showing up on shoes and summer dresses, and in some cases, together! According to the website www.quora.com, ‘Color Blocking’ is a trend we’re seeing a lot of lately; essentially, it is taking bold, opposite colors (complementary colors) from the color wheel (yes, the same one we learned about as kids!), and pairing them together for a contrast. Now, that’s bold!

Bright pink and orange, or aqua and lime green can make great color combinations. For the ‘faint of heart’, or those who are accustomed to ‘matching’, add a lightweight patterned scarf to your neck or even waist to tie the two colors together. Or, try a pair of espadrilles or platform sandals with multi-colored wedges; they’re big this season, and can be found just about everywhere. Colored jeans are still a huge trend, and are still being featured in most fashion forward magazines.  Many of the fabrics sold today are a cotton blend, affording comfort and durability.

Another big color trend for this summer is mint green, believe it or not! It’s also showing up as a hot new nail color, as are most of the colors mentioned here.

Other colors you’ve probably spotted are bright yellows, hot pinks, bold blues- especially in sundresses, handbags and shoes. A visit to T.J. Maxx, Target, or your local mall will confirm that! Stripes are everywhere, but be sure they’re not horizontal if you’re trying to minimize ample hips or thighs.
Orange is making a comeback as well. Looking for a handbag to make a statement? Make it orange!

Don’t be afraid to experiment with color combinations. You can start by pairing a bright T-shirt or cotton blouse in one of these bright summer colors with a basic white or khaki gauze skirt or slacks, for example.  Those basics will never go out of style. So, stay cool this summer, and try a new bold color you haven’t yet tried!

Love the bold colors, but…Interview and Office Attire= a more subdued and demure look…

While the summer fashions offer great style and comfort, please keep in mind that many offices still require professional attire-and, it’s especially important if you’re seeking employment, interviewing or submitting resumes in person. A sundress is not a professional look, nor is a tank top and gauze shorts, even if they graze the knee. A professional, dark suit or separates (slacks/skirt/blouse combinations in a black, gray or navy) are still required. Skip the jacket if you wish, but make certain your blouse is pressed, and not sleeveless or sheer. A bold, bright tone could appear too casual in a professional environment. Save the fun, trendy colors and casual fabrics for the weekends. That first impression with a potential employer will be a great one if you keep it professional!

About the Author:
Diane has been called fashionista from a young age, acquiring her love of fashion after enrolling in Sears Charm School as a young girl. After earning her degree in fashion merchandising & business she gained experience by appearing in movies, commercials and magazine layouts. She also worked as a flight attendant for 15 years and wrote for a well-known travel publication. Diane currently works with students to provide career advisement and loves to act as a personal shopper on the weekends for her friends and family.

Be Proactive and Avoid the Post-Vacation Job Stress

By Peg McQuarrie, ACC
Certified Professional Coach

Henry Ford said, “Before everything else, getting ready is the secret to success. “

You may be preparing for fun in Disneyland in June, hiking in Yellowstone in July, spending time by the lake in August, or lounging at home in September.  There’s nothing like summer vacation when we get to sleep late, rest up, visit new places, enjoy new challenges, and spend time with family and friends.  While I’m guessing that most of us plan well for our trips, there’s more to a successful summer vacation than buying the plane tickets, mapping the roads, scheduling campgrounds, and packing the bags. 

However you enjoy your precious time away from work, if you find yourself leaving for vacation with unfinished business, spending half your vacation checking and responding to email, or coming back to a stressful mess that takes weeks to clean up, you may be wise to apply Henry Ford’s advice at work before you head out for your time off. 

Take charge of the process!

First, take a deep breath, relax, and remember that vacation can be fun, and preparing for it can be fun too!  Imagine the outcomes you want for your vacation.  See yourself on the beach, kayaking the river, hugging Mickey and Minnie; imagine how you’ll feel taking in that Broadway show, resting in nature, connecting with people you care about.  Plan from a place of enthusiasm and expectation, and take charge.

·         Remember that you are responsible to your employer, your coworkers, and your customers in how you manage your time off.  Also, remember you are responsible to yourself and to your family in how you balance time spent at work and outside of work.  Your consideration of all involved can make a big difference in the outcome.  

·         Think back to past vacations, to the times when everything went well as you left work for vacation; when you had fun being on vacation; and when you returned to an orderly workplace and merged back in a positive way.  What did you do ahead of time to ensure those outcomes?  Who else helped make it all happen?  What strengths did you call on?  What resources did you use?

·         Remember back to past vacations when things didn’t go so well.  Maybe you ran out of your office door at midnight, exhausted, full of anxiety about what didn’t get done (or done well); or you felt the need to check your email every day and make calls back to the office, overlooking your family – and yourself – more than once; or maybe you returned to a mess at work that took countless hours to sort out.  What caused this to happen?  What did you do or neglect to do that created these results?

·         After you’ve examined your past actions and results (leaving aside blame of others and guilt for action and inaction on your part), what made the difference?

Be Proactive

Make some time away from work to think ahead.  From your own experience, make a list of all the things you might plan, organize, and do that could pave the way for a relaxing and restorative vacation.  Does your list include some of the following?

·         Let your customers and people at work who depend on you know in advance when you’ll be gone.

·         Create partnerships with co-workers to help each other out during vacations.  Is there a coworker who can field questions and requests from others in the organization and/or from customers while you are gone?

·         If possible, do a little extra work ahead of time on your projects.  Make a list of your projects that are in process and think about how they might be impacted by your absence.  Speak with your team members and supervisor about how things can move forward without you and what can stay “on hold” until you return.

·         Leave your physical and virtual space clean: clear out your email account; file; put away evidence of your projects and leave your desk-top empty and shiny.

·         Make use of the “out-of-office assistant” email function and the incoming voice message on your phone; leave messages letting incoming callers know who to contact in your absence.  (Safety alert: take care who you tell that you will be way from your home.  No need to signal that the house will be empty for a prolonged period.)

·         If you are a sole entrepreneur, seek out others in your line of work who can assist your customers while you are away.  Some years ago, my hairdresser traveled to Australia for an extended period and offered the names of other stylists who she trusted to her customers.

·         If possible, allow yourself an extra day at home before returning to work – decompress, rest, or reorganize your home life a bit after being away.

·         When you walk back through your office door, take one thing at a time, even if everything comes at you in a rush.  Make a list as things come at you, and prioritize.

Go with the flow and enjoy your time away from work

Plan ahead as well as you can, and then let it all go.  Turn off the smart phone and laptop - practice “being in the moment” while on vacation, and just have fun!  While most of us spend the majority of our waking hours at work, each of us is more than the work we do.  Vacation is a time to remember who we are, and to connect with ourselves, those we love, and the whole of our human experience. 

Wishing each of you a happy and safe vacation!

About the Author: 

Peg McQuarrie is a certified professional coach and the owner of WellSprings Consulting.  Her passion is to support others as they step into the successful, meaningful, authentic lives they are meant to live!  For almost 20 years, she has helped individuals and work groups maximize their potential and achieve personal, business, and organizational success.  Her services include individual coaching, specialized coaching for facilitators, team coaching for work groups, and organizational consulting.

Peg earned her Masters in Education from Northern Arizona University and received her coach training through the Adler School of Professional Coaching.  She is certified by the International Coach Federation.   Learn more at www.wellspringsconsulting.com

Protecting Your Vacation

By Renee Hanson, Private Wealth Advisor

The time and money you invest in a vacation might just be worth protecting. Travel insurance has been around for a long time and in many forms. It can include everything from recovering your money if the trip is cancelled to paying the cost of a helicopter rescue if you are injured while mountain climbing. The big question – is it worth the investment?

There is no set answer for every person or every travel plan but here are a few guidelines that are worth considering:

•     Determine the financial risk – if the cost of a trip is nominal, you are probably better off not spending extra on insurance. But for bigger ticket trips like international vacations, tours and cruises, the expense might be worth it.

•     Understand the terms – if you buy trip cancellation insurance, be clear on the accepted reasons for cancellation that will allow for reimbursement from the insurance company. Read the fine print carefully. The same is true of purchasing medical or other types of coverage.

•     Deal with a travel insurance company – better to buy coverage through a reputable insurer rather than the operator of a tour or cruise. You want to be sure that if you qualify for a claim, you are repaid in dollars, not vouchers from the operator.

•     Consider medical protection – you may need health care coverage if traveling overseas, and this may be particularly important if you are undertaking sports or recreational activities on your trip where the injury risk is higher. Medicare does not pay medical expenses incurred overseas, and your own health insurance policy may have limitations.

Like any form of insurance, there are different types of policies, coverage levels and even riders for specific forms of protection. Check your options carefully (there are good resources on the Internet that can help – type in “travel insurance information” on a search engine). Make sure your much-deserved vacation plans are not hampered by financial worries if something goes wrong before or during your trip.

About the Author:

Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc. Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles. Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI. Please visit: www.reneehanson.com to learn more.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

© 2011 Ameriprise Financial, Inc. All rights reserved.

Fun Summer Recipes

By Dolores Seright
 

Summer fun always includes trips to the beach, camping, holiday celebrations and an amazing variety of family outings and activities.  It is also a terrific time to add exciting, and fun, new recipes to your celebrations or your daily menus.  Quick to fix recipes will leave you plenty of time for fun as well as an opportunity for everyone to join in and help with the preparations.

You have heard many times that breakfast is the most important meal of your day.  A delicious, and healthy, breakfast that you can prepare almost anywhere from the beach to the campground begins with Greek yogurt. 

Greek Yogurt Your Way

Greek Yogurt

Fresh Fruit (strawberries, blueberries, peaches, or any fruit in season)

Granola, nuts, dark chocolate pieces

Place all ingredients on a serving area and let each person create their own.  Children love to create something unique, just for them!

If you love eggs in the morning, and haven’t mastered omelets, you can customize your scrambled eggs and find a combination that everyone will love.

Scrambled Eggs with Veggies

If you like a hot breakfast, add veggies to your scrambled eggs!  Asparagus, mushrooms, tomato, peppers or onion are great additions to add variety and flavor to your scrambled eggs.  Select any veggies you love, saute them in olive oil, add eggs and cook until done.  Season to taste with salt, pepper or your choice of seasoning and add your favorite cheese.

Lunch menus can be exciting and easy to prepare.  The heat and humidity can drain your energy, so recharge with refreshing and light lunch fare.  My favorite is an entree salad with a variety of fresh ingredients and a light dressing.

Mix and Match Salads

Select the salads greens you prefer to get started.  Spinach, mixed greens or Romaine are great choices.   Preparing your favorite shrimp, salmon, chicken or grilled talapia in advance and refrigerating saves time.   You can easily plan to have leftovers from the day before to add to your salad.   Add fresh fruit for something sweet.  Peaches, strawberries, apricots or mango can make your salads compete with the finest restaurant.  Spiced pecans, walnuts, or slivered almonds add crunch, and feta cheese is always a great ingredient.  You can make a tasty dressing in a matter of minutes using 2 Tbsp olive oil, juice from ½ lemon and season with salt and pepper.  This light dressing is the perfect complement to many salads.

Crab and Avocado Salad

1 lb large lump crabmeat                                              1 stalk celery, sliced very thin

1 medium scallion, sliced very thin                                 ¼ small green pepper, finely diced

½ cup mayonnaise                                                        1 Tbsp lime juice

1 Tbsp small capers                                                      1 ½ tsp Old Bay Seasoning

½ ground mustard                                                         1/8 tsp cayenne pepper

2 ripe avocados                                                            Romaine lettuce

Lightly toss all vegetables with crabmeat, and try to minimize breaking up lumps of crab.  Stir remaining ingredients together and add to crab mixture.  Chill one hour.  Dice avocado and mix lightly with chopped Romaine.  Serve crab mixture over a bed of Romaine with avocado.  Delicious!

When the day is ending and you are looking for great taste and healthy options, stir fry recipes are great fun.  They are quick, easy and you have many options when choosing your ingredients.  Try this recipe for a great dinner.

Chicken Stir Fry with Snow Peas

2 Tbsp olive oil                                                                   2 Tbsp dark sesame oil

4 cloves garlic, finely chopped                                             2 Tbsp fresh ginger, peeled and minced

6 ounces baby bella mushrooms, sliced                                ½ red bell pepper, sliced and cut strips in half

1 ½ cup asparagus, sliced in 1” pieced                                 1 ½ cup snow peas

½ cup sliced green onion                                                      ½  cup cashews

2 large chicken breasts cut in ½” chunks                              ½ cup soy sauce

1/3 cup unseasoned rice vinegar

Saute garlic and ginger in oils over medium heat for 30 seconds.  Add mushrooms, peppers, asparagus and show peas.  Saute 2 minutes.  Add chicken and saute for 2 minutes.  Stir in soy sauce and vinegar.  Mix in green onions and cashews.  Remove from heat and serve immediately.

Enjoy letting everyone help in the preparation and substituting some of the ingredients based on your individual preferences.

Remember to add a light and refreshing sorbet, the perfect dessert for those hot summer evenings.

Dolores Seright

www.DoloresSeright.com