As I sit here in the luxurious comfort of my Ikea bed, typing this post on my (mostly) shiny, (not quite as) new MacBook Pro, I can’t help but think about how I’ve been managing my money lately. I feel like I’ve been spending a lot of money recently even though I haven’t racked up any debt. At the same time, I’ve still been saving a lot of money, because I have part of each paycheck automatically put into my Roth 401(k) and Roth IRA.

In addition to getting a MacBook Pro, I recently bought a barbecue grill, because you can’t go through summer without grilling food. Of course, it’s not as fun to just barbecue for yourself, so I’ve been inviting friends over. It’s been a lot of fun, but it has definitely put a dent in my wallet. The fun has been worth every penny though.

Spending money is way easier than saving money, because the gratification is immediate. When I bought the grill, I could bring it home and grill a steak on it immediately. If something makes you happy now, who cares about later?

Saving money is all about later though. Putting money into my retirement accounts provides me with practically no immediate benefits now, but it has the potential to pay off big later. The problem is that later is so far away, it’s hard to even imagine what my life will be like then.

Like many things in life, I think the trick is finding a balance between spending and saving that works for you. Instead of asking “Now or later?”, you should try thinking about “Now and later.” Sometimes the answer is as simple as candy.

Have you been spending your money or saving your money?

The following article is a guest post by Michelle Fabio, who writes about online nursing programs at OnlineNursingProgram.net.

For college students, the summer is a great opportunity to get a head start on financing the upcoming school year — or it can mean frittering away what you’ve worked hard to save the previous year. Hopefully you’re determined to fall into the former category and see the next few months as a building block rather than a stumbling block for your financial future.

If so, here are seven ways you can save money over the summer:

1. Work.

Obviously the best way to keep your cash flow flowing throughout the summer is to get a job and have money coming in.

Whether it’s mowing lawns or working at a friend’s mother’s law office, make sure you have something to do so you’re not only spending money, you’re also replacing it — and possibly even saving up for the fall.

2. Stay away from late night fast food.

Aside from being the healthy thing to do, staying away from fast food is also money-smart. Yes, it’s easy to pull into a drive-thru when you get hungry on a late summer evening, but those overpriced milkshakes and fries add up fast.

Guard against late night fast food binges by making sure you have plenty of snacks in the house — even if you’re still not going to grab a piece of fruit, a bag of frozen french fries will be cheaper than stopping at a fast food place.

3. Volunteer.

If you volunteer, you won’t have money coming in, but at least it’ll keep you busy. One of the big reasons students spend more money than they should throughout the summer is because they have nothing else to do.

Think about it, what do you do when you’re bored in the summer? Go to the mall? Go out to eat? Go grab a five-dollar iced coffee? Stop boredom in its tracks by filling up your time with volunteering at a children’s summer camp, nursing home, or whatever interests you — as an added bonus, you’ll be helping others in the process.

4. Take classes at a local college.

Yes, you’ll be spending money to take the class, but it might be cheaper than taking courses at your university and even help you graduate sooner, saving you money overall.

And again, you’ll be keeping yourself busy between going to class and studying, so that will leave you far less time to be bored and wondering where you can spend money.

5. Travel frugally.

For many students, summer is a time for taking off and seeing and experiencing new people, places, and things — as well it should be so long as you can afford it. Decide first how much money you have to spend on a vacation and then pick your destination.

When choosing where to go, don’t forget all the interesting places close to home that maybe you have never visited, or you’ve only seen as an elementary school student. Before your trip, budget everything (transportation costs, accommodation, meals, admission fees, extras like souvenirs, etc.), and stick to it as closely as possible.

6. Start your own tip jar.

Yes, this is common sense, but a great way to save money is by literally putting it away somewhere and not touching it.

Start your own tip jar by throwing in loose change, or, consider putting in each and every five-dollar bill you receive; you’d be surprised at how quickly they add up.

7. Get school books early.

As summer winds down and you start thinking about school again, consider getting a jump start on the semester buy buying your books ahead of time, preferably online for maximum savings.

Check sites like BigWords.com and AddALL.com for price comparisons, consider renting books at Chegg.com, get free books at FreeloadPress.com, or even start reserving books at your school or local library.

Welcome to the 164th edition of the Festival of Frugality! With Valentine’s Day only a few days away, it was pretty much a given that I would make this week’s edition Valentine’s themed. The only problem is that Valentine’s Day and frugality aren’t two things you’d expect to find in the same sentence. For many couples, Valentine’s Day is a time to splurge and indulge or, at the very least, to get gifts for each other. Want to know the truth? The most frugal way to spend Valentine’s Day is to be single.

This week’s festival of frugality is dedicated to Singles Awareness Day, because no matter how much you think it sucks to be single on Valentine’s Day, it does have its advantages.

Dinner for one is cheaper than dinner for two.

Photo by Rubyran

Editor’s Picks

• Abigail Perry has declared February 15th: The Frugalist’s Valentine’s Day at i pick up pennies. I definitely agree that you can save some time and money by celebrating Valentine’s Day on a different day, but isn’t part of the whole Valentine’s Day experience waiting forever at a restaurant and paying an obscene amount of money for your girlfriend’s favorite flowers?
• Peter is calling people out on A Commonly Believed Myth: The Little Guy Just Can’t Get Ahead at Bible Money Matters. Is the difference between being broke and being poor all in your head?
• LAL asks her readers an interesting question in Are you naturally frugal? at LivingAlmostLarge. I’ve always thought of myself as a frugal person, but I don’t know if it was natural or a byproduct of being raised by my parents. Be sure to check out the comments section to see what other people have to say about their frugality or lack of it.
• Kris shares some great money-saving advice while explaining What the Great Depression Can Teach Us About Food and Frugality at Cheap Healthy Good. Find out what we can learn from the past to help get through our current tough financial times.
• Silicon Valley Blogger shares a bunch of Free Ways To Watch Television Online, Catch Movies on the Internet at The Digerati Life. If you still adjust your schedule just to catch TV shows, then get with the times. You can watch practically any show whenever you want on the Internet.
• mbhunter answers the question on everybody’s mind in Why do frugality tips suck so badly? at Mighty Bargain Hunter. Do frugality tips actually suck or do we just suck at seeing the potential of following them?

Slim to zero chance of heartbreak on Valentine’s Day.

Photo by Sister72

• Dawn explains how breaking your foot can be good for your wallet in my accidental shopping strike at Dawn’s Evolution.
• Victoria illustrates scenarios when baby stores are cheaper than Walmart or Target at Turbo-Mom’s Guide to Saving Money Without Wasting Time.
• Tom Tessin shares three websites to help you in Finding The Cheapest Gas Prices at FGC Auto Blog.
• toolsie explains how drill bits can keep you thrifty at Drill Bits.
• MoneyNing presents a great guide to What Everyone Ought to Know When Applying for Free Stuff at Personal Finance Blog by Money Ning. If you’re looking into applying for free stuff, this article has a bunch of great tips that will reduce your chances of falling for scams.
• The Writer asks Is Saving Bad? The Paradox of Thrift Says Yes at The Writer’s Coin. In these tough financial times, people are saving more money instead of spending it, but is this hurting the economy?
• PFCreditCards provides step-by-step details on How to Beat Priceline and Get a Winning Bid at PF Credit Cards. I’m going to have to try this out myself for my next trip.
• Mara Rogers shares some great Tips To Negotiate a Lower Rent at Secrets for Money.
• Robert Hazlewood presents A Survival Guide For The Economic Times filled with advice to make it through these tough financial times at Ways to Survive Life.
• FMF asks Anyone Play the Grocery Game? at Free Money Finance. Is it worth it to pay for a service that will help you save money on groceries?
• julie shares A Tip for Planning Thrifty Shopping Trips at Thrifty Frugality.
• Trevor Watkinson spent January only eating Chef Boyardee and shares his results in 30 Days Of Chef Boyardee: Day 30 at SaveYourSweat.com Blog. Not only is Chef Boyardee frugal, it helped him lose weight.
• FIRE Finance tells a great story about running into an old friend and learning how Smart Refrigeration Lowers Electricity Bill at FIRE Finance.
• Jim shares some DirecTV Satellite Television Deals at Blueprint for Financial Prosperity.
• ChristianPF tackles the issue of marriage finances: joint vs. separate checking accounts at Christian Personal Finance. Do you and your spouse have a joint account or separate accounts?

You have the freedom to do whatever you want.

Photo by KoAn La Scrivana

• Andy asks Is Obama’s $500,000 Pay Cap for Overpaid Executives Justified? at Saving to Invest.
• Jeff Rose shares an excellent list of 5 Simple Yet Often Overlooked Ways To Spend Less Money at Good Financial Cents. If you haven’t heard of the thirty day rule, then you should read this article.
• vh questions whether taking public transit to work around where she lives is worth the price in time and money compared to driving to work in Cost-effective ride? at Funny about Money.
• SD Guy explores what to do with extra cash after you get it in Nice! Extra Cash… Now What? at stretchyDollar.
• Mike G explains how to Save Electricity and Protect Your Equipment at Money TLD. You can save money on electricity by plugging your electronics into power strips or surge protectors and flipping the master switch off when you’re not using anything.
• Aryn recommends a frugal alternative to the expensive Le Creuset Dutch Oven in Frugal Product Recommendation: Enameled Cast Iron Dutch Oven at Sound Money Matters.
• Jason Patrick provides some tips on making it through the recession in Has the recession got you down? at MoneyTheory.
• debt kid explains Why Budgets Don’t Work For Everyone at Debt Kid.
• J. Money shares his opinion on “Americans Spending Less, Saving More” – This is bad? at Budgets are Sexy.. Final conclusion? Saving money is a great thing.
• Debt Free Destiny describes 3 Tips to Stablilize Your Finances at Debt Free Destiny.
• Chris explains some house-hunting expenses and how to minimize them at Home I Own.
• Stephanie shares a few great tips that will help you in cutting your food costs at Make It From Scratch.
• Stephanie presents a couple of Amazon Grocery Sale Codes at Stop the Ride!.
• Super Saver presents Lowering our Property Tax – Doing it myself at My Wealth Builder.
• Jenn Fowler @ Frugal Upstate shares some great Fun Frugal Valentines Day Crafts & Printables at Frugal Upstate.

There’s no need to look for stuff with hearts all over it.

Photo by mackz

• Studenomist explains How The Winter Can Save You Money at Studenomics. If you live somewhere cold, you should check out these tips.
• Patrick @ Cash Money Life is spreading the word about a $25 Sign-up Bonus from Lending Club, plus a Chance to Win $100.
• Patrick @ Military Money presents some simple Green Ways to Save Money.
• Patrick @ Money Saving Deals presents a list of money-saving GoDaddy Coupon Codes.
• Len Penzo explains how to Plan Dinner Menus In Advance to Save Big Money at Len Penzo . Com.
• The Smarter Wallet shares a few Cheap Meals You Can Cook At Home To Save Money! at The Smarter Wallet.
• The Investor explains the Time value of money: Why locking money away earns a better return at Monevator.
• Dana J. shares some advice to take with you on your next trip to the dollar store in Dollar Store: Best Items To Buy at Not Made Of Money.
• The Happy Rock tells us about some of his future plans in I’m going to Disney World! (In seven years) at The Happy Rock.
• Megan has taken another green step at Counting My Pennies by using handkerchiefs instead of tissues.
• Wenchypoo takes a look back in time in A Blast From the Past: “Luxury” Sacrifices at Wisdom From Wenchypoo’s Mental Wastebasket.
• DJ shares advice on how You Can Shop For Frugal Food And Still Eat Healthy at The Family Wallet.

If you live near San Francisco, two words — PILLOW FIGHT!

Photo by Steve Rhodes

• Madison lists a few great Money Saving Tips for Kids on Valentine’s Day at Kids and Money.
• Ryan Suenaga presents A Great Deal on a Great Audiobook at Uncommon Cents.
• Sun gives the latest scoop on Free Business & Finance Courses Online at The Sun’s Financial Diary.
• Shaun Connell presents 5 Principles for Getting Out of Debt at Learn Financial Planning.
• kathryn talks about The Importance of Shopping Local at Out of Debt – Christian Finances and Debt Help.
• Kevin lays out some guidelines to determine whether or not you’re really getting a deal in It’s Only a Deal If… at No Debt Plan.
• Elizabeth G shares some ingredients to keep around for Frugal Emergency Pantry Meals at Modern Gal.
• David R. Lampsen presents Saving with a Sears Coupon at Personal Finance Analyst.
• Mr. ToughMoneyLove shares some tips for Saving Money on Legal Fees at Tough Money Love. He should know because he’s a patent attorney by day.
• Curt tackles 9 Budgeting Myths and exposes the truth about them at PennyJobs.com.
• Penelope Pince shares an extensive list of Frugal and Meaningful Valentine’s Day Gift & Date Ideas, Plus Budget Tips at Pecuniarities.
• Green Panda provides a step-by-step explanation on How to Make a Price Book at Green Panda Treehouse.
• RC shares some advice on Mastering Frugal Living – Living a Simpler Life and Avoiding Consumerism at Think Your Way to Wealth.
• KCLau asks Would you pay RM 1200 for a concert ticket? at KCLau’s Money Tips.
• Em. presents a novel way to reuse your wrapping paper in Welcome to Works-For-Me-Wednesday: Wrapping Paper Edition! at Gratitude. Simplicity. Frugality..
• The Shark Investor presents Strategies For Raising Funds: Saving at The Shark Investor.

Quick, someone order a keg, and I’ll build a shot luge. It’s time to celebrate tax season. Alright, maybe taxes aren’t quite that exciting. Unless, of course, you’ve never done your own taxes before.

That’s right. I, Broke Grad, do solemnly swear that I have never done my own taxes. After decades of being claimed as a dependent and a few years of using my free accountant (a.k.a. Dad), I am finally going to do my own taxes this year.

With that being said, I have a question to ask those of you who have done your own taxes before. What is your favorite tax preparation software and why? If you don’t use software, how do you prepare your taxes? By hand? Hire a CPA?

From the research I’ve done, the three most popular tax preparation software programs are:

• TurboTax
• H&R Block TaxCut
• TaxACT

I’m planning to use the online version of one of these programs to prepare my taxes, but I haven’t decided which one yet. So, please, share your opinion or personal experiences with tax preparation software and help me make my decision.

Do you know where your old student ID card is? Mine’s in my wallet, and that’s where it’s gonna stay for awhile. I can’t use it to check out books at the library anymore, and I can’t put money on it for the laundry room either. So why bother carrying it around?

1. Nostalgia

No matter how macho you are or pretend to be, we’re all a little sentimental deep down inside. One day, when you’re running late for work, you’ll drop your wallet. Your old student ID will fall out, and all of these memories will come rushing back. You’ll feel something strange coming out of your eyes and realize that you’re crying…tears of laughter because you look completely ridiculous in your ID photo.

2. Student discounts

If you’re lucky enough to have gone to a college that doesn’t print a year or expiration date on their student IDs, then you can still use it to get student discounts after you graduate. While I don’t want to condone lying, it really does save you money to keep living like a college student.

3. Bets

Have your appearances changed a lot since college? Maybe your new friends don’t believe that you used to be big boned or that you sported a blue mohawk freshman year. Just whip out your old college ID, and your friends will be paying for your drinks the rest of the night.

4. For the records

A few years down the line, you decide that you want to apply for even more school, so you need a transcript from your old college. Now if only you could remember your student ID number…

5. Hand-me-down

Do you have a brother or sister that looks like you or may look like you in a few years? Hang on to your student ID, so you can pass it on to them. Then your legacy will live on even longer.