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June 2018
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Send Your Kids to College, Keep Your Money at Home
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OUR FIRST COLLEGE GRAD! THE FUTURE IS LOOKING BRIGHT
This month, our eldest son, Nick, will be graduating with a BS in mechanical engineering from The Stevens Institute, and we couldn’t be prouder! Not only is he graduating on time (something that is becoming increasingly difficult at many four-year institutions), he’s also got a job lined up already. Nick will be working as a civilian contractor designing wearable communications for the U.S. Army. It seems like just yesterday I was helping him coil wire around a nail for hours on end to make an electromagnet. When he was a kid, we’d take everything apart just to see how it worked. Unfortunately, neither he nor I was very good at putting things back together. By the time he was ready to go off to college, our garage was full of half-pieced-together projects. So it comes as no surprise that Nick has become a technical wizard in his own right. While we’re happy that he’s found such a great opportunity to put his degree to work right out of the gate, it’s too bad he won’t be working anywhere near Houston. He’ll be on the beltway in Maryland, working to support our armed forces, so we’ll have to fly out to visit. The silver lining is that Nick will be a stone’s throw from what is probably my favorite vacation destination: Washington D.C. Regardless of what you think of the politicians who work there, if you’re into history, science, or architecture, you owe yourself a trip to our nation’s capital. I’ve always been a big fan of the Smithsonian, both as a beautiful building and a treasure-trove of fascinating exhibits. Though, I have to admit, after visiting it for the first time on our last trip to D.C., the Library of Congress may be my new favorite spot to visit. “By the time he was ready to go off to college, our garage was full of half-pieced-together projects.”
It’s like the Sistine Chapel, with beautiful arching stonework and painted murals on the ceiling. My family and I spent all day there. I can’t recommend this destination enough. I was recently named the Houston Metro director for the Foundation for Financial Education, an amazing nonprofit committed to providing free and accessible financial education to families. This issue has been near and dear to my heart throughout my career, and I’m honored to be a part of such a vital organization. The icing on the cake is that I’ve already done speaking events at multiple federal institutions, so a trip out to D.C. may be in the cards. Like many proud parents reading this, my family and I will be watching our son receive his degree and turn his tassel this month. Congratulations to all our current and former students who will be graduating from college or high school. All of us at The College Money Guys are incredibly proud of you! Graduation celebrations aside, the family and I will be heading to plenty of Astros games! However, as season ticket holders, we don’t always fill our seats — in fact, we won’t be using our tickets while we’re in New Jersey to see Nick graduate. So I’ll tell you what: Give our office a call and mention this article. If you’re the first one to do so, I’ll give you four tickets to an Astros game, on me.
I know what you’re thinking: “It’s just a big library.” That’s what I thought too, until I actually saw the place for myself. Words don’t do it justice.
Here’s to a great summer,
–Bra nnon Lloyd
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EAT THIS MUCH
The Online Tool That Takes the Guesswork out of Nutrition
Looking to properly fuel you and your family’s bodies while using the minimum amount of brainpower? I strongly recommend you check out eatthismuch.com. Eat This Much is an online tool that can generate a two- week meal plan along with a corresponding shopping list. The two-week plan provides nutritional variety, makes shopping easier, saves money, and minimizes wasted food. The best part is that figuring out what to eat has been removed from the process. If you are the kind of person who needs a plan, this tool could be your new best friend. • Eat at least five servings of fruits and vegetables daily. • Eat five times daily. • Eat a minimum of 60-80 grams of protein for every 100 pounds of body weight. • Avoid all refined grains. Stick to whole grains and beware of “enriched” grains. • Get the calories to balance. My personal observation over the years has been that many teen athletes severely undereat, most adults underestimate the number of calories they consume, and everyone is protein-deficient. Tracking sucks! As a swim coach, I receive good nutrition information through USA Swimming, but the basic rules apply to most people:
I have checked its results for many different scenarios (ages, body weight, level of exercise) and it does hit the correct balance of calories and protein. It can also accommodate many dietary restrictions. Most of the recipes have fewer than five ingredients, which helps to keep things simple. And the meals appear to be mostly balanced horizontally, meaning if you don’t like the suggested Tuesday-morning snack, choose one from another day. Don’t like a particular food? Any specific food can be excluded. It also allows you to recalculate individual meals; if there’s a meal you know you simply won’t eat, hit the shuffle button to find another before committing to your two-week plan. The way it calculates how many calories are consumed at certain exercise levels (sedentary, lightly active, extremely active, etc.) is possibly the weakest link, although it’s a good starting point. Lose It! (loseit.com) is another resource that calculates your burn rate for an enormous range of exercises. If you currently think you are doing okay (or you know you are not!, track what you eat for just a few days. My bet is that you will find, at a minimum, that your protein intake is deficient.
Have a plan! Keep it simple! It’s just fuel.
–Lori n K oszegi Technique-focused competitive swimming coach
A plan like Eat This Much ensures you are adequately fueled. Perhaps the best part is that it removes the need to track every bite you eat!
OUR CLIENTS SAY IT BEST
“These guys really helped my parents and myself to come to grips with the college education system here in the United States. The advice we received from them has really helped save us money and opened doors that we didn’t even know existed.”
“Kurt, Brannon, and Andrea are the best. They helped me at every step of the process, from the assessments, college essay help, and webinars, to going over the various financial options. I would call them and they always returned calls within 24 hours. I got a HELOC because of their college-related financial advice, which meant I had to get flood insurance on my home, and when my home flooded, I was beyond relieved that I had listened to Kurt. Best college money advisors hands-down!”
–Stanley M.
–Anon
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PARENTS OF SENIORS: KNOW YOUR NEEDS THE ONE EQUATION THAT MATTERS THIS SUMMER
HAVE A LAUGH If your child is going into their senior year of high school this fall, you’re about to receive a lot of “literature” in the mail. Unfortunately, it’s not going to be Shakespeare, Hemingway, Márquez, or Vonnegut. No, by “literature,” we mean the glossy pamphlets produced by the universities your student has been applying to — and a bunch they’ve never even heard of. While these enticing, market-researched advertisements may highlight a few of the things each school on their list has to offer, don’t let your student base their entire decision off these pamphlets. Instead, your family should be crunching some numbers to narrow the field. Know Your EFC With the FAFSA complete, you should know your Expected Family Contribution (EFC). This is the amount that the federal government estimates your household should be able to
contribute to your student’s education. Knowing your EFC will help you determine your financial need — the total amount of financial aid required to make a school a viable option. Calculate Your Financial Need Determine your financial need for a given school with one simple equation. You take the total cost of attending that school (including living and textbook expenses) and subtract your EFC. For example, if a school costs $20,000 and your EFC is $5,000, your “need” at that school is $15,000.
family’s financial need. This is important to know, as some institutions may only give out as little as 20 percent of your family’s needs. To get the most accurate picture of what your family will actually have to pay for a given school, you need to know what portion of need the college typically covers and what form that aid takes. Unfortunately, most schools don’t print this kind of information on their glossy literature. You’ll have to do some research online or call their financial aid officers. If you have any questions during this process, please give us a call. Andrea, our director of financial aid, has years of experience working on the other side as a college financial aid officer. She can give you the advice you need to find out just how much you can expect to pay for your student’s dream school.
$20,000 (cost of attendance) - $15,000 (EFC) $5,000 (financial need)
Here’s the Wrinkle This equation is complicated by the fact that many schools only meet a percentage of your
SPICY CHIMICHURRI GRILLED CHEESE
[inspired by naturallyella.com]
INGREDIENTS
For chimichurri: • 2 jalapeños • 4 green onions • 1/2 cup cilantro
• 1 clove garlic • 2 tablespoons olive oil
• Juice of 1 lime • 2 teaspoons honey
For sandwiches: • 1 tablespoon olive oil • 1 ripe avocado, cut into slices
• 2–4 ounces fresh mozzarella • 4 slices whole-wheat bread
INSTRUCTIONS
1. Pulse chimichurri ingredients in a food processor or blender until combined but not pureed. Add extra olive oil as needed. 2. Heat grill or skillet to medium-low. Brush outsides of bread with olive oil. Smear 1 tablespoon chimichurri on each slice of bread. Place a layer of avocado and cheese between slices. 3. Cook gently until bread is crisp and cheese is melted. 4. Slice and serve.
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2000 North Loop West Suite 200 Houston, TX 77018 713.422.2720
INSIDE
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Our First College Grad! EatThis Much Testimonial The One EquationThat Matters This Summer Spicy Chimichurri Grilled Cheese Cut Down on Flight Costs WithThis Simple Rule
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BONUS MONEY-SAVING CONTENT INSIDE!
THE BEST TIME TO BOOK A FLIGHT
In case you haven’t noticed, traveling is expensive . It can feel like you’re signing away your soul when you sit down to plan a vacation. But when it comes to flights, there’s good news: They’re getting cheaper! According to a 2017 report published by online travel company ODIGEO, long-distance trips across Europe fell 7 percent last year. Luckily, the same trend is reflected in North American airlines as they engage in a price war to woo a growing base of ultrafrugal travelers. Still, a $600 summer flight to Honolulu isn’t exactly pocket change. What’s worse, flight prices are slippery; CheapAir.com’s 2017 Annual Airfare Study determined that the fares for any given trip go up or down an average of 71 times, about $33 each shift. When you purchase your flight is nearly as important as where you’re going. But how do you choose a booking window that will maximize your savings? According to the CheapAir.com study, in which they evaluated 921 million airfares, the best time to book is 21–105 days in advance of your flight, on average. If you want to get even more specific, try to book 55–75 days out, and book on a Sunday. Many travelers swear by Tuesday and Wednesday bookings, but as Condé Nast Traveler reports, Expedia and the Airlines Reporting Corporation say that Sunday is the way to go, based on data from billions of flights. Tuesday and Wednesday are usually the cheapest days to actually fly, though.
The CheapAir.com study also pinpoints the absolute best windows for specific seasons: 54 days for winter trips, 75 days for spring, 76 days for summer, and 45 days for fall. Of course, these are averages, but if you stick to these rules and check fares regularly on sites like Kayak.com, SkyScanner.com, Momondo.com, and on the handy app Hopper, you can rest easy knowing you’re getting close to the best price possible.
Thank you for your referrals!
Palmer Family Hill Family
Blaine Family Walker Family
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