brass Blog

We recently got to catch up with Mary Osborne, pro surfer, former Surf Girls star and May 2006 cover story. Mary says things are going great, this past week she won a Pro Longboard Association event in Ventura, California. She had one thing to say about the contest–”Wahooo!!!”

Surfing competitively isn’t the only thing Mary’s been up to; she filled us in on two other projects she’s immersed herself in. First off, Mary will be hosting an All Girls Surf Camp in August in association with Ventura Makos Surf Camp.

Then in October, Mary is slated to be a featured surfer aboard The Surf Cruise Cup, a cruise that’s all about surfing. Joining her will be three-time longboard champion Colin McPhillips, and Robert “Wingnut” Weaver–who starred in two Endless Summer movies, as well as the amazing 2003 surf documentary Step Into Liquid.

“[The] Surf Cruise Cup is going to be a blast. I recommend all families, surfers and music lovers join in,” Mary says.

The boat will set sail on a week-long trip to prime surf spots in Cabo San Lucas, Mazatlan and Puerto Vallarta. Check out this poster (PDF).

Be sure to check back here at the brass Blog for more past cover story updates.

–Peter

Millions of stimulus checks and billions of dollars have been sent by the IRS to eager taxpayers. This infusion of funds is supposed to be helping out; but from an economic standpoint–given the current price of fuel and commodities–does this really spell stimulus, or does this simply spell relief?

The good news first; according to a CNN Money report, the Stimulus Plan was credited for a 1 percent jump in retail sales in May (that’s twice as much as what economists expected).

Now the not as good news: according to a survey by the American Bar Association, 73 percent of Americans have changed their spending habits because of the economy. Whether the changes to cut back are big or small, Americans have their mind on their money and their money on their mind.

I received my stimulus payment the other week and happily danced around the mailbox. But thinking more, I realized it wouldn’t really go to defray my recent camera investment as I’d hoped–rather, it’ll likely go toward gas because of rising fuel costs.

I asked around brass to see if folks have changed their habits and got about an even split between action and inaction. Some say they haven’t made any changes in spending habits, while others say they’ve definitely made efforts to cut back. Common moves for saving included: carpooling, eating out less, cutting back on entertainment (from vacations to movies) and taking time to map out the most economical route to run errands to save on gas.

So now I turn the question to you, brass Blog readers–what do you think? Are you going about things differently to save?

–Peter

Building credit can be a catch-22. You have to use credit in order to build it. In other words, you usually have to open a credit card or loan account to demonstrate that you are a responsible borrower. The promptness of your credit payment and amount of debt remaining are factored into your credit report and credit score, which ranges from 300 to 850 — the higher the score, the better your credit.

There are three main credit bureaus (Equifax, Experian, and TransUnion) that collect information about you; this includes your credit account payment history (go here for a full explanation).

Unfortunately, the payment of most common bills (such as utilities or rent) are not factored into your credit report from the “big three.” That is unless you pay them late — in which case they will have a negative impact on your credit score.

However, there’s a new credit bureau on the scene — PRBC, and it’s accredited by the Better Business Bureau.

By registering, PRBC gives you a credit score based on your utilities and rent bills. They keep track of on-time payments, not just late ones, which allows your positive payment record to be part of your credit score. They do charge some fees, but getting credit for paying common bills on time might be a safer and easier way to build credit than through traditional methods like credit cards and loans.

For more tips check out, this Ask brass article and Extra Credit.

–Jens

Hello, interweb! I’m Cody Wetmore, the new Editorial Intern at brass. Over the next six months I’ll be blogging and writing articles when I’m not getting everyone coffee or doing compulsory push-ups.

I spent five glorious years at the University of Oregon studying Electronic Media (basically Broadcast News). You may be asking yourself, “If you studied Electronic Media, why are you working for brass?” Well, let’s just say I’m trying to broaden my skill set in order to latch onto any cool job I can find (i.e. brass). TV news can be a little dry (”So Chet, are we going to see some sunshine this weekend?”), and this little bird needed to spread his wings. Plus, my high school English teacher always told me I have a great face for radio. However, don’t be surprised (though the video department might be) if I end up on our vlog or the brass|SHOW in the near future.

Like most people our age, I’m not sure what the future will hold, but interning at brass should open a few doors. If anything, I’ll try my darndest to produce so much work for the website and magazine you’ll think I’m a full-time employee.

–Cody

Regular-grade gas stood at $4.27 a gallon in town this morning, and this past weekend I logged about 220 miles driving to different photography assignments. While I’m happy to have the business, these hits at the gas pump are having an impact on me. In fact, business owners everywhere from all fields are feeling the pinch. Some more than others.

Fortunately, partial relief for businesses (even little guys like me) comes in the form of tax write-offs. For business tax purposes, drivers are allowed to deduct 50.5 cents for every mile driven. The IRS increased the rate for 2008 from 48.5 cents per mile.

With this rate, that means I can write off up to $111 for this past weekend!

I did some research online, and it turns out there are other ways you can be compensated for mileage. According to the IRS, you can write off mileage costs for medical or moving purposes (19 cents per mile), and in service of charitable organizations (14 cents per mile).

If you have more specific questions about writing off mileage with these rates, check out this full IRS report.

So the next time you’re having to move, relocate for work, or are helping out your favorite charity, save your gas receipts. Every little bit helps you spend less money.

– Peter

I recently received an official-looking envelope in the mail that said “Final Notification” on the outside. It was a bit foreboding, but I didn’t receive a first notice, so I didn’t get too worried. When I opened it, there was an official-looking ticket, a voucher for $1,600 and a confirmation number. Woohoo! I won!

It said: “Your responsible Financial history has earned you this $1,600.00 travel voucher.” I may never know why “Financial” was capitalized. I suppose they thought it was important. That aside, I had just checked my credit report and found it to be squeaky clean, so receiving this gave me a warm fuzzy feeling inside. Ahh, good credit has its rewards.

There wasn’t any fine print about what I was expected to pay, but I decided to be cautious anyway. I googled “Ramada Plaza Resorts.” The first thing that the search found was Consumer Affairs–not a good sign. Google also found ripoffreport.com and a few other websites that warned me away from my prize.

Read and check everything before you jump for something “free.” Consumer Affairs (consumeraffairs.com) and the Better Business Bureau (bbb.org) are both good places to check up on companies before you use their services.

If you’re looking for a way to get more involved with brass, look no further. There are a lot of ways: you can share the news, let us know what you think, tells us about inspiring young adults you know of, or even write for the magazine! Check it out, get involved, and help bring info about money and real world stuff™ to young adults across the country.

Sharebrass
We now have a one-stop resource for you to stay involved with our current efforts here at brass. Sharebrass.com has just launched and will be the showcase for the latest news, products, and happenings from brass|MEDIA. With Gen Y in a financial crisis, we literally cannot afford to wait on spreading information about money and real world stuff™. We need change makers like all of you to visit sharebrass.com and help us spread the word.

Our current effort to change the world is brass|TV – a documentary style show which, using feature stories, short-form segments, and interstitials mixes relevant information about money with the straightforward, younger voice brass is known for. Using the Action Center on sharebrass.com, you can help us spread the word about brass|TV through a variety of channels, all with the goal of getting brass|TV picked up by a major television network.

Tell us what you think!
The reader survey we offered recently isn’t the only time you can chime in. You can tell us what you think anytime by visiting brassmagazine.com/feedback. Did you like the cover? What do you think about our website? Does brass need more cowbell? We want to know!

Someone who rocks
We’re always looking for inspiring young adults for the cover of brass|MAGAZINE. If you know or know of someone you think is inspiring, tell us about them. Send an email to editor@brassmedia.com or visit brassmagazine.com/suggest_a_topic, and we’ll check it out.

Write for brass
We’re always looking for young writers interested in contributing to brass. Sign up at brassmagazine.com/contribute to get contributor emails with available article assignments and to start pitching your own ideas.

Looking forward to hearing from you soon!

–Jennie

Hey everyone. I was researching more on money market accounts today and came across a great word for our Lexicon: Reconciliation. You may not hear this word too often in the age of debit cards and eStatements, but it still crops up - and now you’ll know what it is!

According to investopedia.com, reconciliation is an accounting process where two sets of records are compared to make sure the numbers are in agreement. You’re probably familiar with the process - it’s what happens whenever someone balances their checkbook.

So do I reconcile my expenses by hand every month? No… but my girlfriend does for hers. Yes, we’ve casually debated why she reconciles every month - and she makes a good point. Since the majority of my expenditures are through debit card or checks, I’m able to keep pretty good track of my finances through online services offered by my financial institution. Still, my girlfriend has an edge over me because, through her reconciling (matching up everything she’s recorded with her account statement), she can closely track her purchases made with cash. As for me? I can track how much I withdrew from the ATM, but I could be sitting on a horde of loose cash and change - unaccounted for - hidden under my car seat, in the couch or in the laundry pile.

You don’t need to do your tracking by hand though, sites like wesabi.com wesabe.com or mint.com can tell you exactly where your money is going. No matter what method you choose, it’s reassuring to keep tabs your money. Not only will it bring you peace of mind, it will safeguard you from unexpected overdraft fees and send up red flags for possible fraud or identity theft.

– Peter

Yes, scholarships are amazing. Still, many students rely on federally subsidized loans to make ends meet in college. The caps for such loans are often set between $3,500 and $5,500; when this isn’t enough, students must turn to private loans, which almost always have higher interest rates.

As a student, I had to take out a private loan to handle the higher cost of out-of-state tuition. While I don’t regret attending my alma mater, I wish I tried harder to establish residency in the state. Today, my private loan rates make me cringe each month.

With the current credit crunch, private loans for students are becoming more costly and difficult to access, according to a report on NPR. Those wanting to attend for-profit schools and trade schools have been hit first. For students, the unstable credit market translates into more stringent restrictions on credit scores for interested borrowers and in some cases, less available private loan options altogether.

So does this mean no college (or no more college) for you? Not necessarily. But it will force you to more closely examine which schools you can afford to attend. If anything, the credit situation should really encourage you to look at the programs offered in your state–maybe you won’t have to go as far as you think for school. Check out this brass article for more information.

It may make sense to attend college in your home state first, and then transfer to that perfect school out of state once you know what degree you want. Coming from someone who wishes she had thought a bit more about this herself, it’s worth it to evaluate your options–not just on where you’re going and for what degree, but on how you’ll tackle the tuition costs too.

– Sarah

Having a hard time finding a job this summer? Chances are you’re not alone. According to a CNN report, teen unemployment jumped up to 18.7 percent in May. To be fair, much of this increase could simply be related to the school year ending.

I don’t like being the bearer of bad news, so here are some resources to help you avoid becoming part of the statistic. You can start your search by checking out our article on seasonal jobs. From the article, you can link to a number of job search websites. Also, check out this brass article on how to turn a hobby (like photography) into a money-making venture.

You’ll want some cash in your pocket this summer to have fun with your friends and maybe catch a few movies like Kung Fu Panda or Get Smart. A little work at a part-time gig could be your ticket to fun times, and you just might pick up some valuable job experience while you’re at it too. Happy job hunting!

– Peter