Every store is going to start advertising their back to school specials, but remember to shop smart!

• Beware of “sale” items that aren’t really on sale. Just because there’s a big red sign next to it doesn’t mean you’re getting a deal.
• Don’t buy things just because it’s on sale, only buy things that you need. Write a list to prevent impulsive purchases.
• Buy your supplies in bulk, you’re going to need a lot of paper, pens, pencils, etc., so stock up while prices are low.
• Don’t be too cheap. I know, this one sounds kind of backwards but a lot can be said for quality. I once bought a 10-pack of pencils because they were the cheapest and the graphite was such crap that it constantly broke. I’m sticking with my Ticonderogas. You understand my point, I’m sure.
• Pace yourself with the clothes shopping. Seasons change and while it’s great to have brand new clothes for school, there’s no need to overdo it. They’ll be picking out old shirts from the dresser in no time.

If you’re heading off to college this year then you will need to pick up a few things. I made a “Back to School Checklist” that I think pretty much covers everything you need, this way you can buy everything in one trip instead of going back 40 times for stupid crap.

I love back to school season. I kinda wish I was going back to school this fall… though I think it’s only because I want an excuse to wear a hoodie.

1. Game Night – Board games and video games aren’t just for kids, invite some friends over for some music, snacks and dust off some old games you haven’t played in a while. Bomberman matches can go all night!
2. Go for a Hike - Pack up some sandwiches and go for a hike, climb a mountain, make an afternoon of it. Not only is it cheap, but the exercise is great too!
3. Visit a Museum – Many museums have free pass days, check out their website or give them a call. If not free, they may have discounted admissions on certain days of the week.
4. Rent a Movie – Going to the theater not only costs an arm and a leg but why sit in those uncomfortable seats, surrounded by people you don’t know when you can gather your friends in the comfort of your living room?
5. Beer Tasting – If you have a favorite local brewery, they probably offer tours and tastings, often the tastings are complimentary except during peak times. Even then, the cost is generally minimal.
6. Go to the Beach – Pack up a cooler and spread your towel on the sand, nothing beats the tranquility of waves rolling onto the beach, I wish I was there right now.
7. Play in the Park – No matter where you are, there is some version of a park nearby. Grab your friends and a Frisbee or a good book (if you are into that sort of thing).
8. Festivals - Almost everyone has some sort of festival at some point in the year and you may look at them as a “mob scene” but it’s still fun to treat yourself to some Fried Dough and wander around, even if it’s just to people-watch all those crazy tourists.
9. Go Fishing – I haven’t gone fishing in years, but I imagine it is still quite relaxing. You don’t need a big fancy boat, just a pole, a six-pack and a friend to push in the water when the fish stop biting.
10. Get Crafty – No, I’m not talking about making fru fru papier-mâché window dressings, I’m talking about putting your brain to good use. Build a potato cannon, paint a picture, write a book, cook or bake something. Do something creative!

If you don’t like my ideas and still can’t think of anything to do on your own, then go ahead and papier-mâché a Chihuahua or something, here’s a recipe, but if you don’t already have a Chihuahua, it’s gonna cost you more than $10.

Okay, so there were a lot of reasons behind the recession, and yes spending is what will get us out of this mess. BUT, you should spend wisely. If you are feeling the hurt then chances are you didn’t plan well in the first place. I know, I’m harsh, but don’t lie to yourself. Instead ask yourself: Is there anything I could have done better?

Could you have…

• Spent less than you earned?
• Paid off your debt?
• Set short-term savings goals instead of relying on credit?
• Put money toward your retirement?
• Started an emergency fund?

The great thing about making a mistake is that we can learn from it. Today’s seniors know what it means to save. They experienced the high deposit rates of the mid-1970’s and the super high deposit rates of the early 1980’s. They balanced their checkbooks, they lived on a budget and they understood the value of a dollar. I know this because they are some of my best customers and I’ve seen them do some amazing things on a fixed income. Ask yourself, could you live of $800 per month? It’s quite impressive.

So what can we learn from this? To succeed financially takes work and dedication. You have to budget, you have to have a plan and you have to have the dedication to stick to these plans. It’s easier than you think, you just have to try.

According to The US Department of Commerce, America’s personal savings rates hit a 15-year historical high last month when it rose to 6.9% in May. I guess it takes a recession to knock some sense into people. I just hope that once we are out of this mess, people remember the value of savings.

Now, do you ever wonder how some guy can immigrate to this country with no money and start working at a 7-Eleven, only to own it 5 years later? Ever wonder how after five more years pass, they own three 7-Elevens and you’re still living from paycheck to paycheck?

All too often I hear, “I need more money… I need a raise.” How about going out and getting another job? How about cutting your expenses? How about taking charge of your life and doing something about it instead of complaining?

Every day I listen to people complain and I’m really tired of it. If you want your life to change then get up and do it. Stop blaming everyone else for your financial problems. I’m not rich, but I have 2 jobs because let’s face it, Banking isn’t the best paying field and I have bills to pay. I’m not living paycheck to paycheck either, because I am disciplined with my money.

You can do it too! It’s really not that hard, just stop being so damn lazy.

For these reasons, I have always been a huge advocate for educating children and young adults on the financial management and value. Why aren’t personal finance courses required in high school? Why do we learn how to count change in 2^nd grade math assignments and never again speak of money? These financial pitfalls can be prevented with proper education. They’re not getting it at school, but they can get it at home.

Parents: Do your children a favor and stop treating your finances as a private matter. Show your kids how to balance a checkbook, show them how to pay the bills and explain where the paycheck goes. If you want your children to have a better financial life than you, you have to show them yours first. If anything, they’ll learn what not to do.

Well it finally happened. The Small Business Administration announced details on their new America’s Recovery Capital Loan Program last week. Basically, businesses can get an ARC loan from participating SBA Lenders to pay down existing debt and pay Zero interest! You may be wondering how the bank makes money. Well guess what, the SBA is going to pay the banks interest on your behalf! I can’t believe it! It finally happened, the Government is paying banks interest to borrow money. I love it!

There are a lot of details on the program and not just anyone will qualify. Basically, businesses who have been profitable in the past (either last year or 2 years ago) can apply for a loan up to $35,000 to pay down an existing loan, which includes credit cards. The loan disbursements will be made monthly over a 6 month period and initial repayment doesn’t have to begin until 12 months after the last disbursement. This is great, especially since many small businesses have fallen back on their credit cards to stay afloat when their cash flow dips. The business may repay the debt at zero interest for up to 5 years.

In turn, the SBA will pay the banks interest on the money borrowed at Wall Street Journal Prime plus 2.00%, which as of today would be 5.25%, and they will guarantee the debt 100% in case the borrower defaults. A downside is that the banks are faced with a bookkeeping nightmare. This may be why some larger banks like TD Bank have decided not to participate and why Bank of America and Citizens Bank are still undecided.

The SBA plans to release their initial list of participating ARC Lenders tomorrow. Check with your local community banks, they have smaller loan portfolios so are better able to handle such a complex program – plus, they’re always going to give you better service.

You may be surprised to see how much of a pounding your wallet is actually getting every month. Before we look at your personal stress test, let’s look at what banks want to see. When you apply for a loan your bank does a bunch of calculations to see if you fit within low, medium or high risk profiles. Now, every bank is different but typically you will see the following:

• Monthly housing debt is less than 30%
• Total contractual debt (including housing) is less than 38%
• Savings has at least 3-6 months of expenses.
• Retirement savings is established
• Credit report is greater than 3 years old
• Zero missed payments

Now, you want to remain as conservative as possible so your goals should be even stricter than banks. If you find that you are above these limits, you would be deemed higher risk and may not be approved for a loan, especially loans with lower-quality or no collateral such as personal loans and car loans.

Check out CNN’s tool: http://cnnmoney.com/financialhealth

Yes I was having tons of fun playing with different Wordpress templates and plugins, researching information and writing articles. I was writing around 1-3 articles a day and another blogger warned me that I was going to burn out. I didn’t believe him, and I should have.

Christmas time zapped a lot of my energy, and then while heading into January I started a class that completely killed my creative drive. I took on too many projects, on top of working at the bank, volunteering with various organizations and school, writing became another task. I started losing track of the blogs I read, my RSS reader became overloaded with unread articles and my life in the blogsphere came to a halt.

Now, things are winding down and I’ve been wanting to write again. I’ve decided to give it another go and see what happens, but I will do so with a few ground rules.

1. I will not attempt to write every single day.
2. I will go back to reading the blogs I love, not the ones just for research.
3. I won’t Twitter anymore – I think it’s dumb anyway.
4. I will stop looking at my stats – I don’t care how popular my post on Monopoly is.
5. I’m not going to beat myself up for not posting.

In short, I’m going to go back to doing what I enjoy. I’m not going to try to keep up with my fellow bloggers – I have a life outside of this Wordpress window, and I will enjoy it.

When will my first new post be? I don’t know, I’ll get back to you.

One of the biggest problems with our economy, with Americans in general, is that we tend to live beyond our means. We don’t think of a new car as a $35,000 purchase, instead we think of it as a $500.00 per month purchase. You may think that you can swing the monthly payment, but your bank disagrees. What do you do when your bank says “No?”

If you’re like most people, you’re crushed. You’ve already started living your life imagining yourself driving around in that brand new car, the places you’ll go, the hot girls (or guys) that you’ll pick up. Now all of a sudden, you feel entitled to the new vehicle. And your bank is telling you that you can’t have it.

So you go somewhere else and the next bank may say no, but you continue on… Eventually, you will find someone that will say “Yes!” I guarantee that you WILL always find someone who says you can have that new car, but I’m telling you – don’t.

Banks writes loans every single day, they know what works and what doesn’t. They know when a loan has a higher probability of default, and they deny those loans. It’s not an assumption. It’s a fact, backed up by years and years of statistical truths.

What you may not realize is, the bank accounts for your total debts – some of which you may have forgot about. If you make $30,000 per year, the IRS is going to take 20% right off the top, so you only have $24,000. Then you have to take off your expenses like rent, credit cards, other loans, etc. So let’s say that totals $1,000 per month (if you’re lucky). Now you only have 12,000 left over per year. That’s $1,000 per month to pay your utilities, phone bills, groceries, gas, etc. So if those expenses total $500 per month, then you would be left with only $500 extra per month.

You may assume that you can afford the car but the bank knows that shit happens.

If you spend every extra penny on the new car, then you won’t be able to save. So when you lose your job or become ill or have an emergency – you won’t be able to pay your bills. Hell, it doesn’t even have to be so morbid, most people like to take a vacation every once and a while. If you get this loan, you won’t even be able to afford a hotel room.

Do yourself a favor, the next time a bank says no, ask why and learn from it. Don’t go from bank to bank to bank until someone says “yes.” They’re not approving the loan because you can afford it; they’re approving it because they want to make a lot of money on you with high interest rates and late charges.

In the short time I did have to peruse the blogsphere, I found a few articles that you may find interesting.

JD at Get Rich Slowly talks about the importance of knowing what’s in those agreements you sign. 

A guest poster at Lazy Man and Money gives some tips on how to get VIP treatment on a slim budget.

If you’re ready to file your taxes, make sure you don’t miss any deductions, take a look at Free Money Finance.

Hundreds of Thousands of people are out of work, Blueprint for Financial Prosperity tells us how to deal with job rejection, and what about paying for services you can do yourself – like LifeLock?

Just a few articles I found interesting, what are some of your favorite blogs? Feel free to leave a comment with a link to your favorite blog.