Money

Student loans are a huge burden on today's college graduates. LearnVest shares the plans of three individuals still working to be debt free.

A college graduate without student loan debt is akin to reading a kind quote about Kim Kardashian in a tabloid—it’s rare.

In the past eight years, student loan debt has nearly tripled to a whopping $1.1 trillion, and in the past 10 years, the percentage of 25-year-olds with such debt has risen from 25% to 43%.
It’s gotten so bad, in fact, that New York Fed economists warned last month that the burden of student debt could stilt consumer spending by twentysomethings, as well as further hamper the recovery of the housing market and economy.

RELATED: 7 Things to Consider Before Starting Your Own Business

To get a better idea of what massive student loan debt (we’re talking over $100,000 massive) looks like, three people in different professions have given us a glimpse at their situations—specifically, how the debt is impacting their lives and how they plan to pay the money back. We also consulted LearnVest Planning Services CFP® Katie Brewer to see just how their repayment plans stack up.

Read on for more.

The life of a student can be an expensive one, especially when you factor in textbooks that can cost you up to hundreds of dollars. In fact, the average student spends over a $1,200 on textbooks and course materials, according to collegboard.org.  Here's a quick cheat sheet on where to get cheap textbooks:

• Book swaps on campus: Most book swaps entail students gathering together online or at a school location to buy and sell there books and not a literal "swap." This is beneficial for both parties because those selling their books have more control over the prices and the buyers don't have to pay third party fees for the books and might be able to haggle with the sellers.
• Buying used: You can find new textbooks up to 30 percent off and possibly a bigger discount for used textbooks on Amazon Textbooks. The selection is wide and there's a bonus: you get to use the Amazon Prime two-day shipping free for six months if you're a student. There are also e-versions of textbooks available at half the price of its paper form. Another good website to search for used books is Half.com, a site owned by eBay. The selection there is as prolific as Amazon's.

• Renting: Instead of buying a book that you will most likely choose to resell or never use again, pick to rent your books as an environmentally friendly option. Chegg.com is a great place to do so and renting the books will give you about half off the original price. Another one to check out is CampusBookRentals.com. I've compared prices of renting textbooks and buying used ones online and I find that the price of rentals is very hard to beat. You have to keep in mind that although you're getting these books for great prices, you won't get to keep these books.
• Your network: Perhaps you have friends who have taken the same classes you're going to take. Ask them if they're willing to pass along their books to you or sell them to you at a cheap price. You might want to broadcast the books you want on Facebook and Twitter so you can better reach your whole network.

Although you can get books at campus bookstores, even the prices of the used books sold there can be pretty costly. However, there may be some books that you can only get at the bookstore (such as a certain professor's book that's only in print at your school bookstore), so you should check to see if you can get a cheaper price if you buy a bundle of books. Another idea is to maybe even approach your professor to see if he's willing to loan or give you a copy of the book.

If you're unsure of when and how much to tip, our partner Business Insider has the deets so you'll never have to worry about shortchanging someone again.

According to the rest of the world, Americans (more specifically, New Yorkers) are the most generous tippers out there.

RELATED: Manhattan Sushi Restaurant Bans Customers From Tipping

But even within the U.S., tipping etiquette changes in just about every region. It may be customary to leave an extra 20% for your waiter in Manhattan, but a waiter in Atlanta may be thrilled to get 15%. To help, here's a complete guide to gratuity etiquette, courtesy of Mint.com.

Brush up on your math and the next time you hire a mover or order room service, you and your wallet will be prepared.

Read on to see the tipping guide.

A save-the-date might be your guests' first impression of your big event, but is it imperative that it arrive embossed on heavy cardstock? With so many paper-light or paperless options out there, your wedding stationery could be the simplest way to trim back your budget and help you afford that honeymoon in the Maldives!

• Investigate printing options. Letterpress may be the ticket to an expensive-looking invitation, but the price usually matches the appearance. Look into thermography, which provides similar raised printing for much less than traditional letterpress. Or, for casual wedding invites, laser printing is fast and inexpensive.
• Go paperless. Evite may have been the first to market with online invitations, but plenty of other services have followed suit with gorgeous templates and customization options to create the online save-the-date or wedding invitation of your dreams. Try Paperless Post, Glo, or Pingg. Most options allow you to send an invitation and field RSVPs without a single stamp. Even if you send paper invitations, cut down on costs by asking guests to RSVP by email or on a password-protected website.
• Print your own. If you're a whiz in Photoshop (or have a good pal who is), then think about designing and printing your own invitations and stationery. It might be more work, but you'll have the flexibility to choose any printing method that works with your budget, and you'll have the satisfaction of creating works of art for your big day!

For more money-saving ideas, just keep reading.

Your cell phone can be one of the more expensive bills you have to pay each month, especially if you carry a smartphone. But if you put in some effort to research before buying a phone and choosing a carrier, there are ways you can save a lot of money on your bill. The amount you will save can amount to hundreds in a few years. Here are some tricks to saving on your cell phone:

Sign up for a no-contract deal: Although you can save up to hundreds on a new smartphone if you sign up for a contract deal, you can actually save more if you opt for a no-contract deal and pay full price for the phone. This Get Rich Slowly blogger found that the plan she wanted cost $110 a month without contract, versus $140 with the contract. Even though she'll have to pay more for the phone — $500 compared with the discounted $200 — she'll be saving $360 a year, which means she'll save $60 in the first year alone, followed by $360 the year after. Further, if she wants to switch carriers midway, then she won't have to pay any penalties, because she's not under contract. And that's not all; turns out some carriers even offer no-interest payment plans for the phones, so even if you can't afford to pay the full price upfront, you can pay it off in installments.

Comparison shop: The first rule of getting a bang for your buck on anything is to shop around. Check out what phone and plan best suit your needs. You can compare different carrier plans and pricing with ease by going to BillShrink. Just input your information and how you want to use the plan, and the site will give you a list of suggestions and the breakdown of each plan.

Get a prepaid phone: A pay-as-you-go phone can save you a lot of money, and you won't be locked down in a contract. Another benefit is you'll know exactly what you're going to be charged, and you won't be in for any nasty phone bill surprises. The prepaid option is a smarter option for people who never seem to meet their minutes quota and for those who aren't phone hogs. And if you think prepaid phones are outdated, then think again. Now you can even use a prepaid plan for smartphone models such as the iPhone 5. You'll even get the option of unlimited data plans at cheaper rates than contract ones. Prepaid service providers that Consumer Reports recommended include TracFone, Virgin Mobile, Straight Talk, and T-Mobile.

Read on for more ways to save.

We're happy to present this post from our friends at DailyWorth. Planning for your retirement is easier than you thought!

Sailing around the world, gardening from sunup to sundown, long walks on the beach. Thinking about retirement can seem surreal and even silly when most of us are so caught up in the day-to-day grind of life. However, it is important to take time to think about it — and the earlier the better! — to develop a plan that will truly help you make your dreams for retirement a reality.

RELATED: How Much Do I Need to Retire?

An easy way to think about retirement planning is to ask yourself — and your spouse, if applicable — the five W's: Who? What? When? Where? Why? Your answers will provide the basis, then answer the sixth and final question of how you will achieve your goals.

Who? Who are the most important people in your life? Your spouse? Your children? Your grandchildren? Your business partner? Your pastor? Yes, retirement is about what you want, but retirement planning should also include thinking about the future financial needs of your loved ones and any other financial goals you might have before and after retirement. And as unpleasant as it is, you should also consider the potential financial strain that your and/or your spouse's death, illness or long-term care could cause. Then consider the value (and cost) of using insurance products to protect your priorities and your family's well-being.

Read on for more.

Once you've thrown your graduation cap in the air, it's time to face the real world. Although you're not in school anymore, you could still probably stand to keep your living costs as low as a student's because — let's face it — that entry-level salary probably won't stretch very far. Here are some ways you can live a frugal student's lifestyle:

Use student discounts: You still have some time before the date on your student ID is expired, so make use of student discounts (here's a list!) while you can. Use student clothing discounts from J.Crew or Ann Taylor to get yourself a work outfit.

Find roommates: Room with other people to keep living costs down, just like you did in college. But pick carefully — you don't want to end up with a nightmare rooming situation. Do background checks if it's a stranger from Craigslist, or try to stick to people you know. Make sure you ask your potential roommate these five questions before moving in with them.

Make use of the library: It's time to transition from the school library to a local public library! Keep on getting your books for free by patronizing your local library.

Read on for more.

Buying groceries is a regular chore that most people do every week, but there are some items that you don't have to restock every seven days.

• Canned food: The canning process helps to lengthen the shelf life of its contents. The USDA recommends using high-acid canned food, which includes fruits and tomatoes, in less than two years, and low-acid canned food, which includes meat and vegetables, in two to five years.
• White rice: Keep your white rice in an airtight container in a cool and dry area. There's not much moisture in the white rice for it to spoil. However, keep in mind that brown rice spoils much quicker because of its higher fat content.
• Sugar: Food spoils mostly due to bacteria growth, but sugar is a natural preservative, so bacteria can't grow and thrive with excess amounts.
• Honey: Honey is similar to sugar in that it doesn't spoil because of the high sugar content. Honey can crystallize over time, but you can always heat it up for use.
• Salt: Keep salt in a cool, dry place and it won't expire.
• Soda: Canned soda can usually last for about a year, although diet soda spoils much faster because of the artificial sweetener.
• Dried pasta: Dried pasta has very little moisture, which means that it can last for a very long time. It can last up to two years if unopened.
• Hard liquor: Hard liquor like vodka and whiskey doesn't really spoil, even after opening, since they are already aged and distilled. It's best to store it in a cool, dark area in your kitchen.
• Vinegar: This sour liquid can last indefinitely because of its acidity. Screw the cap closed after every use, and store it in a cool, dark area.
• Cereal: There's a reason why extreme couponers like to stock up on their favorite breakfast cereal; it has a long shelf life. It can last up to a year, although the quality of taste may start to degrade as time goes by.

What if we said you can turn those fashion mistakes into money? Yes, rather than wish that hemline never happend, we have found a few ways to turn your unwanted clothes into cash. Between recycled clothing retailers and online fashion communities, there are several ways to make a profit. Follow our tips below, so you can continue to feed your closet what it wants and avoid debt while doing so!

• Consignment: A consignment or thrift shop is likely the place you'll make the most profit. Unlike thrift shops, recycled clothing retailers like Crossroads Trading Company and Buffalo Exchange guarantee quality fashion and your favorite brands. To make money, be sure your clothes are in good condition and seasonal (this is key on the buyer's part). The consignment shop will then sort through your clothes and price each item based on the brand (if you are selling designer items like bags or shoes, you can often name your own price). Finally, when the sale is complete, you can opt for cash, check, or store credit (which is the best deal).
• Online: Selling your clothes online is a great option for big-ticket items like designer accessories. Although not just for clothing, eBay is a great place to sell clothes, assuming they are worth more than the cost of shipping. You can also use fashion-forward sites with a buyer/seller community like Threadflip or The RealReal.
• Donate: With donations, not only are you helping others, there's this thing called a tax write-off! Federal law permits Goodwill donors to claim tax deductions for clothing donations. Rule of thumb: if you'd give the item to a friend, it's probably appropriate to donate. And see a savings come tax day.
• Trade: Although there's no cash involved, you will walk away with some new finds during a trade. Have your friends clean out their closets and get together for a clothing exchange. Assuming you and your girls have similar tastes, you'll update your wardrobe without spending a dime. If you still have pieces left over, then consider the options above.

Source: Instagram user jojosfilm and Instagram user charityrockey