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Is it better to buy a Rolex than a Timex? What about buying a $50 bottle of wine instead of "two-buck Chuck"? They may be worse for your wallet, but buying these luxury items may actually mean you get more enjoyment from the product.

During my second and third years in college, I made some poor decisions regarding which classes to take. Those poor choices, during a period when I was no longer sure about my major, ended up tacking an extra year onto my college experience.

My response should have been to talk to advisors and figure out a way to minimize that extra year, cutting it to perhaps a semester or so. Instead, I just made up excuses, convincing myself that I really did need that extra semester or two and I hadn’t really messed up at all.

When that extra year rolled around, I didn’t have enough money to pay for my education, so I took out student loans. I took out a big enough loan to cover tuition, but then I found myself at a crossroads. How much more do I need?

My response should have been to get the smallest loan possible. Instead, I got myself a rather hefty one. I excused this, arguing that it would somehow cost me more to move to a smaller apartment.

Keeping your grades up, taking AP classes, and preparing for the SAT or ACT can boost your chances of landing a scholarship. Photo: MC Quinn

Preparing for college can seem overwhelming. The truth is, it’s never too early (or too late) to take steps while still in high school. There are plenty of things you can do to prepare both academically and financially for your big college adventure:

Take Challenging Courses and Choose Wisely

Many colleges prefer that you take more than just the basic math and science classes, according to the U.S. Department of Education. And your high school graduation requirements may be far different from college admission requirements.

This is a guest post from former GRS staff writer Donna Freedman.

Anyone who has lived on the margin has likely felt the anxiety that comes with having just about enough to get by. That’s why I’d like to suggest a holiday present that can make a short- or long-term difference in someone’s life – the gift of breathing room.

Got a barely-afloat friend or family member or one who is inching toward the red side of the ledger? Even a small amount of leeway could be extremely helpful (maybe even life-changing) to unemployed or underemployed friends and relatives, single parents, retirees or recent college grads.

The freeing-up of even $20 from someone’s budget could become seed money for an emergency fund, an extra payment toward consumer debt, the sneakers her kid needs for gym class.

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This week's topic: Year End Financial Moves! Learn about maxining out your retirement accounts, tax deductions, and more!

Welcome to Wise Bread's Best Money Tips Roundup!

Talking honestly about money — especially debt — can be difficult. But financial arguments and resentments can wreak havoc on marriages, so it pays to get it all out in the open. Photo: zenjazzygeek

When you marry your spouse, you’re merging lives. You’ll need to make room in yours for their books and furniture, sure, but also their family, maybe their pet — and, more often than not, their debt. In fact, seven out of 10 Americans enter into marriage with debt, according to debt.org.

To make matters worse, those first few years of wedded bliss are when you’ll most likely be racking up even more debt — between the wedding, a honeymoon, purchasing a home, furnishing your new love nest, and possibly expanding on your duo.