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CONTESTAnnouncing the first Financial Literacy ContestFirst Prize: eReader

Write an essay on how to build wealth regardless of income and navigate through a college education to a prosperous life.

The CIIS Financial Compass

N e w s l e t t e rTravel Tips

Travel planning is easy, but

requires time and budgeting.

Read more for fantastic tips.

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Holiday Spending

This is the perfect time to start

planning budgets for your

holiday gifts.

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Career Tips

How to increase your chances of

meeting your future employer.

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2013 Taxes Tips

To file or not to file, that is the

question. Tips to prepare now

for an early start.

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OUR FIRST EDITION

It is a pleasure to introduce our first newsletter dedicated to our

students and alumni. The Financial Aid Office has partnered with

the Dean of Students Office to bring valuable information to you.

There will be three newsletter publications per year and with each, a

contest related to financial literacy. You will need to keep reading to find

more information about the contest and its prize.

This issue includes how to prepare for holiday spending, travel, career

networking and tax season.

When it comes to managing personal finances, we

tend to leave it for later. If you do it now, however,

“later” can mean a better and more fulfilling life.

The Financial Aid staff can provide information

about student loan repayments and help you make

wise decisions for your student loan borrowing.

This newsletter is for you and we would like your

feedback.

Email us your comments at finaid@ciis.edu

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Getting an Air Fare Deal

Generally, tickets are more expensive when you purchase more than four months in advance or less than 1 week before your trip. Some research has shown that 3-4 weeks may be the sweet spot. However, it can’t really be guaranteed since it all depends on how popular the trip is, the time of year and the fees for plane fuel. Looking in advance will give you time to watch the changes in price.

I remember reading once that airlines post a limited number of reduced-priced seats at night, so purchasing in the morning can be useful, especially on Tuesdays or Wednesdays.I never buy on Fridays-Sundays when the fare prices are noticeably higher.

Similarly, the cheapest day to travel is Wednesday. They say Tuesdays and Saturdays are also low-fare days so set your schedule with departure dates on these days.

THE CIIS FINANCIAL COMPASS

Staying within budget can make holiday shopping a daunting task!

Traveling - - Set your mapsBy Jody O’Connor

I travel internationally and around the U.S. a few times each year and have noticed the steady increase of plane fare. I’ve also heard that the rates are not going back down. Over the years, I’ve figured a few things out, whether from practice or reading travel blogs. Here are a few tips that I hope help you find a deal to get away for the holidays.

• Joining lists of travel deals is helpful. Even if you’re not ready to travel, you can see the prices as the emails come in so that you get an idea of what a ‘good deal’ is for airfare, or what a good deal might be for you. You can avoid the sticker shock of airfare this way and adjust to the realities of what you may pay. Check out travelzoo.com.

• I u s u a l l y l o o k a ro u n d o n K aya k . c o m , CheapOAir.com, StudentUniverse.com or Statravel.com for about two weeks before settling on a ticket. Be flexible with your dates. Several airfare search engines allow you to use a flexible date calendar so you can find the cheapest flights in a given time period.

• Get your passport now. If you have it on hand, it opens up a lot for your future plans. U.S. citizens even need a passport to visit Canada these days!

The Twelve Dollar$ of ChristmasBy Leslie Chin

It’s difficult enough to try and think of gift ideas, but adding the task of “staying within budget” (much less being able to make a budget) can make holiday shopping a daunting task. Here are 12 tips to help make it the most wonderful time of the year :

• Set Limits for Holiday Spending - Be realistic about what you can afford. Take your monthly expenses into consideration before deciding how much you will spend for the holidays.

• Examine your list of people - Decide the amount you plan to spend per person.

F I N A N C I A L L I T E R A C Y C O N T E S TWIN AN EREADER

R e a d t h e r u l e s a n d p a r t i c i p a t e

Q U E S T I O N S ?415-575-6122 E M A I LFINAID@CI IS .EDU

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Did You Know...…that you can file your FAFSA before filing your tax return?

…that even if you have your student loans in your checking/savings accounts, you should not enter them as “savings” on your FAFSA? Student loans are considered debt, not savings.

…that if you’re an international student, you may apply for a private student loan if you have a co-borrower who is either a United States citizen or permanent resident?

The Twelve Dollar$ of Christmas continued...

• Base your budget off of your own finances - Never compare or look to other people’s finances to steer your budget. Everyone’s situation is different.

• Give your time instead of a tangible gift - You can give a small gift or the time you give to someone could be a great gift too!

• Look for coupons/deals - Be on the lookout for good deals when shopping (of course, beware of scams too!).

• Avoid overuse of credit cards - Challenge yourself to pay with cash only.

• Account for the “extras” - Don’t forget to include such items as wrapping paper, gift bags, cards, decorations, etc.

• Compare prices for your items - Use online price comparison websites (i.e. PriceGrabber.com, ShopZilla.com). Online purchases might be better than the store!

• Shop early - The earlier you start, the more time you have to create a budget, compare prices, and ultimately, make the best spending choices!

• Keep track/monitor your spending as you go along - Keep a visual list/budget with you and refer to it often to monitor how much you are spending with each gift.

• Make something - This can range from a craft to a baked good. And, the fact that your gift to someone was made, often adds a personal touch to it.

• Get a group together and save - Instead of buying a gift for all/most of your friends, you might want to bring up the idea of creating a group gift exchange (i.e. Secret Santa). Plus, it could make for a fun gathering!

THE CIIS FINANCIAL COMPASS

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Free Tax Preparation

The IRS Volunteer Income Tax Assistance

(VITA) program helps you file your taxes.

They can inform you about special

tax credits for which you may

qualify such as Earned Income Tax

Credit, Child Tax Credit, and

Credit for the Elderly or the

Disabled. VITA sites are generally

located at community and

neighborhood centers, libraries,

schools, shopping malls, and other

convenient locations. Most locations

also offer free electronic filing.

Find a VITA site near you or call 1-800-906-9887.

Interview with an ExpertBy Emily Walker

Diane Daubenmier is recently retired from her position as the Chief Financial Officer at Waypoint Services, a non-profit organization in Cedar Rapids, Iowa. She shares some valuable tax filing information as well as tips for holiday saving.

Q: Could you share some general tax tips for undergraduates and graduate students?A: Well, most importantly, you need to make sure that no one is going to be claiming you as a dependent on their taxes. Aside from that, I cannot stress enough what a great resource the IRS website can be for independent filers. Make use of that built-in search bar! If your taxes look simple, then you can e-file, which is a fast and easy way to get your refund and is free on the IRS website.

Q: Should a student file if there was low or no income? What are the benefits of filing?A: There is a benefit to filing if you have had any job where they have withheld federal income tax. Even if you haven’t earned the minimum required income to file, you should file anyway so that you can get that money back.

Q: Is there a minimum that a student should claim if they donate money? Is there any benefit in donating while a student is still in school?A: For charitable contributions, the specific amounts don’t matter if you don’t plan on itemizing your deductions. A good rule to follow is to make sure that you will have enough other items that would bring your total above the standard deduction amount. This might include high medical payments, or

interest paid on your home or car purchases.

Q: Do you have any personal tips for holiday saving?A: Try to save a little bit all year so you are prepared for any travel or gift buying. If you have a job where you are paid by automatic deposit, then normally your employer will allow you to split that paycheck up into different bank accounts. You can have 10% or a certain dollar amount deposited into a savings account to use for the holidays.

Education Tax CreditsEducation tax credits can help offset the costs of education.

THE CIIS FINANCIAL COMPASS

F I N A N C I A L L I T E R A C Y C O N T E S TWIN AN EREADER

R e a d t h e r u l e s a n d p a r t i c i p a t e

Q U E S T I O N S ?415-575-6122 E M A I LFINAID@CI IS .EDU

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OAT BRAN

COOKIES QUICK AND

EASY SNACK.

They are great for

cravings and getting

your daily bran needs.

Ingredients

1 cup oat bran 2 cups all-purpose flour

1 tsp baking powder 2 eggs 1 cup butter

3 tbsp sweetener 1 tsp vanilla

12 oz semisweet chocolate chips

2 tbsp chocolate powder

Preparation

Pre-heat the oven to 350 F.

Mix all the ingredients in a bowl into a thick and

smooth dough. Pour the mixture into a greased

baking tray.

Bake for 13-15 minutes.

The saving man becomes the free man.- Chinese proverb

Tax InformationBy Catherine Chafey

To file or not to file…that is the question. Shakespeare says it best, even when it comes to determining if you’re supposed to file your tax return every year. The IRS has set minimum income requirements to file a tax return. This means that if your income (or combined income for joint filers) is at least the amount listed, you are, by law, required to file your taxes. What if your income is less than the minimum required to file? How do you determine if it’s beneficial for you to file or not? You may not have thought of the following education-related tax credits and deductions:

• Lifetime Learning Credit

• Tax credit for higher education expenses, including career

training

• Tax credit for higher education expenses (specific to

undergraduates only)

• Student loan interest deduction

• Tax deduction for student loan interest that you pay for,

whether for yourself, your spouse, or your dependent

• Tuition and fees deduction

• Tax deduction for tuition and fees from taxable income if

you are ineligible for the Hope or Lifetime Learning tax

credits (cited in #1 and #2) Source: www.ecmc.org ‘s “Federal Tax Benefits at a Glance”

IMPORTANT DEADLINES2013-14 FAFSA - Opens January 1, 2013CAL GRANT- Submit FAFSA no later than March 2, 20132012 TAXES- Due by April 15

Fall 2013-14 Financial Aid Deadline is April 15

Financial Literacy CONTEST Deadline is February 15

Craft Fair- December 6-7Do you have an artistic talent? Would you like to make some money?

Contact Ana Maria Martinez in the Dean of Students Office to register for theFair at studentaffairs@ciis.edu. Deadline for submissions is November 19

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Career Counseling

Identifying and understanding your skills, values, and interests allows you to make informed career choices.

Resume Writing Assistance

Resume and CV review, cover letter preparation, and mock interview practice.Contact mlam@ciis.edu for an appointment.

CIIS Career Link

Your online gateway to job and internship listings, workshop schedules, career handouts and videos, and other great resources.

https://ciis-csm.symplicity.com

Career Development Tips Take Advantage of the holidays to increase your network.

By Margie Lam

According to the U.S. Bureau of Labor Statistics, employers fill the majority of job openings through the hidden job market - jobs which have not been posted to public. By conducting informational interviews and networking, you are more likely to gain access to the hidden job market since job positions are sometimes filled by referrals and word-of-mouth.  Thus, we see the importance of building and maintaining a network, and the upcoming holiday season is a great opportunity to develop some new connections and refresh some old ones.

Here are three simple tips to begin your alliance building:

1.  The most effective networking begins within the circle you are already in. Begin by having intentional conversations with your family and friends, classmates, and faculty. Most people are happy to share advice. Always ask for at least one more contact who they would recommend you connect with. That way, you’re continuously building your network.

2. Networking is more about listening than saying the right things. Your intent is to develop a relationship with someone, which means understanding them, where they are coming from, and what is important to them.  You’ll gain some insight from hearing what they have to say.

3. Remember to follow up. If you've had a great conversation, ask your conversation partner the best way to stay in touch. Some people like email or phone while

others prefer networks like LinkedIn. Get in touch within two days and reference something you discussed.

Did You Know...The average employer spends only 10 seconds looking at a resume. You must have a professionally crafted resume in

order to stand out among hundreds of job seekers. Is your resume ready to make the cut?

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Interview with Heidi FraserEast West Psychology

PhD student

By Ted Moy

Heidi is currently working on her dissertation proposal and is very close to advancing to candidacy by end of fall 2012.  She works as a student worker in the Financial Aid

Office and also as an administrative adjunct with the East-West Psychology Department.  Heidi would like to offer her wisdom on how she survives financially as a PhD student. Heidi suggests opening up a separate savings account to “stash” your excess financial aid funds away, or invest in a savings bond.  She’s very focused on her educational career and she does reward herself with occasional “adventures,” but only when she can afford it.  She said, very honestly, that she flies by the seat of her pants and lives paycheck to paycheck (from her work study jobs).  Her student loans help her pay for her rent/bills, so her paychecks earned from her work study jobs pay for her groceries and her adventures.  She recommends that her fellow students always plan ahead!  She attributes her academic success to keeping a task list – she just checks items off as they are completed.

The Financial Literacy Contest

Rules and Regulations for the Contest:

Win an eReader

In order to participate in this contest, you need to be a currently

enrolled CIIS student. The winning essay

will be published in the next newsletter and

we will feature an interview with the student. Here are the rules:

Topic for the Essay: the student will read

this newsletter and find their own unique and life changing experiences to share and motivate other students. Write an essay on how to build wealth regardless of income and

navigate through a college education to a prosperous life.• Write an essay

(max. 200 words).• It must be from

any of the topics

covered in this newsletter.

• Deadline is February 15.• Submit your essay at finaid@ciis.edu. Write

on the subject line: February Financial Literacy Contest. Include your full name and student ID number.

Non-winning essays will also be considered for publication.

THE CIIS FINANCIAL COMPASS

Motivation is what gets you started.

Habit is what keeps you going.

~Unknown

CONTEST DEADLINE

February 15, 2013- 5PM

Submit your essay by email at finaid@ciis.edu

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THE CIIS FINANCIAL COMPASS1453 MISSION ST., SAN FRANCISCO, CA 94103

THE CIIS FINANCIAL COMPASS

The March edition...• Financial Literacy Contest winner is announced.• Tips for applying for external scholarships. • Spring cleaning tips. • Marketing tips for making money on the side.

• Loan repayment workshops and tips.• And much more...

This newsletter comes to you with the help of the following researchers and writers:

Financial Aid Office Dean of Students OfficeCatherine Chafey Jody O’Connor

Emily Walker Lauren SelfridgeLeslie Chin Margie LamTed Moy