This post is from staff writer Kristin Wong.

Last week, I got back from an amazing 10-day trip. Brian and I saw Stonehenge, sailed the Irish Sea, and I threw up three times. It isn’t a true vacation unless I’ve thrown up.

During our journey, we had a few money-related experiences, and I took the time to journal them. We were frugal. We learned about tipping. We talked to bartenders about taxes. I enjoyed these money highlights and financial reminders along our journey, so I thought I’d share.

More than money

A chatty cabdriver drove us from Dublin airport to our hotel. Once we arrived, he had a deal for us:

“Now, listen. I’m going home after this. If you want, you can drop off your bags, I’ll wait here, and then I’ll give you a ride to wherever you want to go. No charge.”

Immediately skeptical, we said, “Eh, we’re really tired. We’re probably just gonna take a nap.”

“Oh, come on,” he insisted. “It’s a free ride. Drop off your bags and let’s go!”

We were a little nervous about getting taken, but we went with it. He drove us to Temple Bar, talking the whole way about how he was looking forward to going home and sharing a bottle of wine with his wife.

“Yeah,” I thought. “That you pay for with the extra money you’re about to charge us.”

Once he pulled over and dropped us off, I noticed the meter read 30.00. At the hotel, it was 23. Here we go.

“Eh, let’s just make it 22,” he said. I was taken aback. That was a pretty good deal for the airport ride alone.

“You sure?” Brian asked. Our driver insisted. Brian then handed him a 20-euro note and a five-euro note. “All I’ve got is the five,” Brian said. The driver then insisted we just make it 20, refusing to take any tip. What then ensued was a shouting match, with Brian insisting on the tip, and our driver, Bob, yelling that we were giving him too much.

Bob finally relented, allowing us to take down his address to ship him a bottle of California wine once we get back home.

The experience made me realize I’m very distrusting of people when it comes to money. This guy was so kind, and I immediately branded him a scammer. Sure, it’s only natural (and necessary) to be wary in a strange city, but this was a good reminder that life is about more than money, as J.D. would say.

Frugality is satisfying

That Saturday, Brian and I rented a car in Wales. We learned how roundabouts work (I think) and took way too many pictures of sheep. We stopped in Cardiff, the country’s capital. Walking around Cardiff Bay, we came across a flea market, and one of the booths sold handmade bracelets for one euro.

“Oooh, pretty,” I said, and Brian took out some change and bought me a nice one with blue stones. We didn’t buy any other souvenirs in Wales, and I thought $1.29 was a pretty good price for a piece of jewelry that reminded me of a beautiful place. Because I also thoroughly enjoy frugality, the bonus is whenever I wear this, I’ll also always think: And it was only one euro!

But sometimes it’s OK to splurge

The next day, we got to Stonehenge. The whole experience was pretty amazing, despite a lady asking me to take her photo because “this needs to go on Facebook!” Really? We’re standing here, amid of one of the seven wonders of the medieval world, and you’re talking about Facebook? (Real talk: It only made me angry because I was thinking the same thing.)

In addition to the overall majesty, we were also impressed with our Stone Circle Access. You can see Stonehenge for free from behind a fence, and you can pay £8 admission price to see it behind a smaller barrier. For that price, you can’t walk up to the stones, but you can get fairly close. Maybe, like, 30 feet away?

But then there’s Stone Circle Access. With this, you’re able to get up close to the stones for an hour, before Stonehenge even “opens.” You can walk around them. You can walk under them. You can sit by them. The only thing you can’t do is touch them.

The cost for this access? £16 a person. Together, Brian and I paid $48. Sure, it’s double the price of general admission, but it was worth it.

(Note: Click here for more info on Stone Circle Access.)

The money customs of other cultures

Part of the fun of traveling is learning about other cultures. Throughout our trip, we noticed that tipping was inconsistent. Sometimes it seemed customary; other times it didn’t. We tried to tip at Temple Bar, for example, and our money just sat on the counter the whole time.

“I don’t think you tip bartenders here,” I told Brian.

“I just saw another guy do it. You’re supposed to leave one!”

“That’s not what Rick Steves said!”

When we returned to Dublin after our jaunt to the U.K., we decided to learn about tipping norms from a real Dubliner (as opposed to Google).

“If you’re at restaurant, you tip,” our bartender informed us. “Maybe 10 percent, or, if the service is exceptional, 15. But barkeepers don’t usually expect tips. Maybe if they go out of their way or something like that.”

He also gave us a brief lesson in Ireland’s tax system, which was interesting. For example, their value added tax (VAT) has different ranges, depending on what you buy. Books, children’s clothes and educational stuff have a zero percent VAT range. Most everything else is taxed at 13.5 percent. But retailers factor this into their pricing, rather than adding the “plus tax” like we do in the States.

“That’s partly why everything is more expensive here than it is in the States,” our bartender told us. “The tax is included.”

He then made us a free sandwich (the kitchen was closed) and chatted with us for the next couple of hours. We tipped him.

The importance of being prepared

The following night we logged into our account to see how much we’d spent. We budgeted for the trip, but we also used a credit card to avoid foreign transaction fees. The card we chose not only waives these fees, they also have a good rewards program.

Our spending was about what we expected: sobering enough to make us put down our pints and say, “OK, let’s try to cool it for the rest of the trip.” But one thing that gave us a little jolt: We racked up $130 in rewards. Our card offered a free $100 if you spend $500 within the first few weeks. I had forgotten about this perk, so that was a nice little surprise.

It was awesome being able to use this card and not worry about fees. We rarely had to take money out of an ATM. Before our trip, we had painstakingly planned and budgeted. Brian even groaned because I organized our planning into “Phase I, Phase II and Phase III.” It took some effort, but we figured out the most frugal way to splurge. This isn’t a budget vacation post, and I’ve already gotten long-winded, so I’ll sum up the details in a few brief bullet points:

• The “Hotel Tonight” app has an awesome $25 referral deal. We both used it and got one room for $40 and another really fancy one for $60.
• Before booking flights, I read that Tuesdays and Wednesdays are the cheapest days to buy airline tickets. This was true for me.
• We nicknamed Ryanair “Lyin’ air” (hilarious) because of their notorious fees. But it was still a pretty low price to fly from London back to Dublin. We shared one checked bag and split the fee.
• AAA discounts work on overseas car rental.

Overall, I thought the trip was a good example of how I’ve learned to manage my finances. I enjoy frugality, but I also enjoy a well-budgeted splurge. And now, I’m back to work and focused on earning more, fueled by the gusto of a thoroughly enjoyed break.

GRS is committed to helping our readers save and achieve your financial goals.Savings interest rates may be low, but that’s all the more reason to shop for the best rate.Find the highest savings interest rate from Ally Bank, Capital One 360, Everbank, and more.

This post is from staff writer Sarah Gilbert.

I lose count of my “jobs” these days: my literary writing (that theoretically pays, or had better one day or else), a nonprofit board on which I serve as president, and the magazine I started last summer. While I certainly put the same intensity into everything, I can definitely say that I work more hours for free than I do for pay.

So when I got the advice from a well-meaning friend, “You shouldn’t let them work you like that for free!” I had to shake my head a little to see his perspective. I’m so committed to these projects (and I know the money simply isn’t there unless I raise it myself) that I don’t mind the work:pay ratio. My general agreement with myself is that, as long as I’m making enough money to pay bills, buy good coffee and local meats and veggies, and save a little, I can do whatever I want with my (ahem) “spare” time as long as it’s for a genuinely good cause.

I heard the same phrase again a few days later, directed at someone else. “You shouldn’t do that for free.”

Well, maybe you should do it for free?

I honor and pay fealty to your right to maintain your own sets of career principles and your own agreements with yourselves. But I’d like to point out that doing a thing for free might often be in your best interests and, if you have your basic financial bases covered like bills, food and savings, doing things for free could be good for your financial and your emotional bottom lines. Actually, there are many times doing a thing for free could be… well, profitable.

Disclaimer: Many commission-based sales positions have enormous appetite for people working for free, and I cannot quite envision the time when such commission-based sales would qualify for any of my below categories. I’d love to hear your experiences if you believe differently!

Consider doing the thing for free if it meets with one or more of these possibilities:

1. You can have access to the very best in your industry.

A lot of academic and nonprofit work ends up this way. At many local writing and creative non-profits, volunteers hobnob with established writers and artists whose reputations are truly luminous by taking them out for drinks, designing newsletters or staffing events where you may not be paid for the drink you just handed to Tom Brokaw. But come on — Tom Brokaw!

It’s the “layer” of superstars just under the Tom Brokaw level who can potentially be the most helpful to your career and to whom you wouldn’t have access if you were doing similar work for pay (say, as a cocktail waitress or caterer or managing the customer newsletter for a small business). These are the people who will be the “who” in the old famous phrase, “it’s not what you know, it’s who you know.”

As the representative of the nonprofit on whose board I serve (and which has me up late many nights working for free), I took it upon myself at a small writers conference I attended to show a good time to the agent who had been brought in to give us talks on the publishing process. We’re now great friends, and though I have my own agent, I will look to her for advice and connections to her favorite editors. It was free, and it could be the relationship that makes all the difference in my career.

2. You can learn skills you could not learn (or not so quickly) in a for-pay job.

A lot of grant writers and public relations professionals begin their careers like this: the PTA or the neighborhood board or the church outreach group sees an opportunity to apply for a grant. Or a small startup need to get some PR and can’t pay. “I’ve always wanted to learn that,” the parent or neighborhood board member or friend-of-a-startup says. “I’ll try!”

A couple of turgid books and dozens or hundreds of hours of free work later, and the grant is submitted or the public is related-to. Once you’ve accomplished that and had quantifiable successes, those can be easily translated into for-pay work (and the good kind, that pays handsomely by the hour), and those you’ve helped will be eager to write you references.

3. You can have a title you could not qualify for otherwise

I run a magazine, and we always need more help. “I would love to have an editorial position on my resume,” said one volunteer. While the volunteer’s skills are bountiful, her experience is in other fields; we’re not going to split hairs and we happily offered up a title that gave both the gravitas she required and also filled the functional hole we needed filled.

While it’s even more work for free, starting your own thing is another way to get a title for which you may not be able to be hired. A small nonprofit organization you started could use an executive director! How about you? Next time you want to apply for a position whose screeners won’t accept anyone without [fill in blank] years of experience in [fill in blank] management, you’ll fill in all the blanks.

4. Your free work will give you leverage for a for-pay position

A board member came to the board with an offer: “I work as executive director free for six months, while I work to raise money for a salary for myself.” Once six months had arrived and the volunteer had raised the requisite money in grants and donations we might never have attempted without him, it was an easy sell.

If you’re going this route, it’s good to get the agreements in writing, and even worth hiring a labor attorney to draft a contract with specific benchmarks. “If Jane Jones raises $x thousand in grants and $x thousand in individual donations by December 31, the salary will be $y effective January 1.”

5. You just really, really love what your work is doing

If you can afford to work for free, and you’re slaving away for some tiny nonprofit staffed by homeless youth, and there is no future in this work, and you’re far too old to get any sort of “community service” credit for this, and all you’re doing is washing dishes but you are having amazing conversations with the people you serve and you feel you’re making a difference in the world? GO FOR IT. Be prepared to look your well-meaning advisers in the eyes when you complain about your wrinkled hands or the stinky neighborhood where you work, when they say, “You shouldn’t work for free.” You can say, “Thanks for caring about me,” and show up again tomorrow because you are awesome and the world needs more people like you.

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This is a post from staff writer Robert Brokamp of The Motley Fool. Robert is a Certified Financial Planner and the adviser for The Motley Fool’s Rule Your Retirement service.

Here’s an idea: Leave juvenile delinquents in a prison for three hours to be harangued by hardened criminals in an attempt to convince the kids to change their ways.

That was the premise of the 1978 documentary “Scared Straight!” which won an Oscar and an Emmy. When it aired on TV, it was the first time some networks had allowed some very dirty words that you’d never hear from Mork or Mindy.

Many correctional systems across the country tried their own versions. Unfortunately, studies indicated that all the cursing and yelling and in-your-facing didn’t have a positive effect (in fact, it may have backfired).

But that didn’t stop “The Daily Show” from trying its own version — except instead of trying to save teenagers from a life of crime, this was an attempt to save them from student loans.

The episode began with a nice fellow by the name of T.J. lecturing to seven high school kids in a classroom. T.J. has an illustration degree and $170,000 of debt. “I screwed my life up going to college,” he tells the kids. “I’ll be dead before these loans are paid off. Don’t make the same mistakes I did.” Unfortunately, T.J.’s reasoned approach didn’t get through to the kids, so correspondent Aasif Mandvi brought in two fellows who looked more like the people in the original “Scared Straight!” They took a more aggressive tone and used different language, such as “Student loans are like herpes with compound interest!”

Longtime readers may recall that I think college is a big, fat, hairy rip-off, and that universities are at least somewhat immoral. But the truth is that I suspect my kids will go to college, and that my wife and I are saving for that expensive day. While a degree might enhance a graduate’s financial situation, the chances are increased by getting a debt-free diploma. However, there are only three ways to manage that: (1) build up plenty of savings before college; (2) get the most free financial aid (i.e., scholarships) possible; or (3) pay for college out of current cash flow.

In this article, we’ll cover Option 1. For Option 2, read 15 Things You Need to Know About Financial Aid. As for Option 3, we’ll point you to a tool that will help you calculate how much college will cost you, so you know whether you can pay for it out of pocket.

That tool is the savings calculator at Savingforcollege.com. It estimates the total cost of college based on your child’s age and tells you how much you need to save each month to reach that goal. The calculator has plenty of flexibility that allows users to fiddle with the assumptions, and it can even help look up the costs of specific colleges.

Now that you know how much college may cost you — and you’ve recovered from your fainting spell — let’s discuss how to save for that big chunk of higher-education change.

Where to stash your college cash

You can save for college in a variety of accounts, but there are three main candidates: the Coverdell Education Savings Account, the 529 prepaid plan, and the 529 savings plan.

Each option has the benefit of tax-free growth as long as the money is used for qualified higher-education expenses (otherwise, the earnings will be taxed and penalized 10%). Also, the assets can be transferred to other family members if the beneficiary doesn’t need the money (whether because of scholarships or mishaps). As for their differences: Pull up a desk, sit up straight, and keep your eyes on the chalkboard.

Coverdell ESA

What it is: An investment account that is opened with a brokerage or mutual fund company, owned by either the parents or the student.

Limits: Up to $2,000 can be contributed annually. Contributions are phased out at incomes between $95,000 and $110,000 for single tax filers, $190,000 to $220,000 for married filers (though there are some ways around these limits). Contributions can be made until the student turns 18 and must be withdrawn by age 30.

Investment choices: Whatever is offered by the company with which you’ve opened the account.

Impact on financial aid: Depends on the account owner. Assets owned by a student have a greater negative impact on aid eligibility than assets owned by the parents, though this impact is lessened if the student is still a dependent of the parents.

Why choose the Coverdell: If you want maximum control over your investments in terms of what you can buy and how often you transact, this is the education savings account for you. Also, unlike with 529 plans, Coverdell assets can be used for elementary- and high-school expenses. However, given the low contribution limits, saving only in a Coverdell will likely not be enough.

529 prepaid plan

What it is: An account offered by some states that locks in tomorrow’s tuition at approximately today’s prices (or at a small premium). The lock on tuition applies only at in-state schools; the funds in the account can be used at a private or out-of-state school, but with no guarantees that they’ll cover the entire cost of tuition.

A consortium of private schools also offer their own prepaid plan, which provides guarantees for students who attend any one of the 270 participating universities. Only 16 states offer prepaid plans, and some have closed their plans to new investors. Low investment returns and budget reductions are causing some experts to question whether all states can fulfill their promises to participants in prepaid plans.

Limits: The contribution amounts are set the by states, based on factors including expected tuition growth and investment returns. Participants can only contribute at certain times of the year. Many plans prohibit students already in high school from opening a new account.

Investment choices: None — all the money is managed by the states. The “rate of return” is essentially the future growth of tuition.

Impact on financial aid: The plan is considered an asset of the parent as long as the student is a dependent.

Why choose a prepaid plan: If you live in a state that offers a plan (or choose to participate in the private colleges’ consortium), you want to lock in today’s costs, and you’re reasonably sure your student(s) will attend a participating school, a prepaid plan may be for you.

Prepaid plans are also attractive to those who would prefer their funds to be managed by the state, rather than self-managed and subject to the whims of the markets. As mentioned, though, some states may not be financially capable of fulfilling their obligations to participants in prepaid plans. Finally, most of these plans just cover tuition; you’ll have to choose another account to save for other expenses, such as room and board.

529 college savings plan

What it is: An account sponsored by states but administered by financial-services firms. Families are not required to choose their own state’s plan — which is good, given that not every state has one — but some states do offer tax breaks to citizens who choose the in-state plan.

Limits: Very high contribution limits (more than $200,000, on average), and no income restrictions.

Investment choices: A selection of mutual funds, including age-based portfolios, which are allocated among various asset classes and gradually get more conservative as the student nears college age. Generally, investment selections can be changed just once a year.

Impact on financial aid: The account is considered an asset of the parent (or grandparent), which has a lower impact on financial aid.

Why choose a 529 savings plan: You can contribute more than $2,000, you want to save for college costs beyond tuition, you value the tax deduction offered by your state (if applicable), and you don’t mind the limited investment choices.

Now what?

The good news is you don’t have to choose just one of these accounts. You can contribute to each, if you have the resources and it makes sense for your situation. For example, you might participate in a prepaid plan to manage the future costs of tuition, then max out the Coverdell (because you enjoy picking individual stocks, an investment choice not available in 529 plans) to help cover room and board, and contribute to a 529 savings plan for additional savings. Of course, such a strategy would require a lot of cash; for those seeking a place to contribute a few hundred dollars a month, the 529 savings plan is the most popular choice.

If you go that route, start by investigating the plan your state sells directly to residents (as opposed to those sold through financial advisors). If there are tax benefits from going with the home team, you may need look no further. That said, it’s not worth choosing a horrible plan just for the potential tax benefits. Savingforcollege.com is an excellent place to begin your research — it provides a review of the tax benefits each plan offers, as well as rating each state’s offerings.

The plans that tend to shine in other financial publications’ reviews include the Utah Educational Savings Plan, Ohio’s CollegeAdvantage, the Maryland College Investment Plan, and Nevada’s Vanguard 529 College Saving Plan.

Finally, attempt to persuade your kids to choose a degree that has greater chances of paying off (unlike these degrees). Yes, choosing a career you enjoy is important, nearly crucial. But college is an investment, and like every investment, there should be a cost-benefit analysis. Going into a huge amount of debt for a low-paying career makes paying for a car, paying for a home, raising a family, and taking vacations — also important factors in life satisfaction — much more difficult.