July 2008 Newsletter

July 9: Everything you need to know about credit
Attendees  will receive a copy of the Federal  Trade Commission publication (June 2006): Building a Better Credit Report. Available at Building a Better Credit Report
Forward this message to a friend; bring a woman to FPW who has not attended before and receive your choice of a Nolo Press book as a reward. (See list of books at end of newsletter).
August 13: Property Insurance: Protecting your home and vehicles with local insurance agent Jane Larsen.
September 10: Late Savers Retirement Guide
Financial Planning for Women (FPW) is a monthly educational seminar that meets the second Wednesday (except December) at two times: 12:30-1:30 p.m. in Family Life room 118 on the USU campus. Bring your lunch. The same program is repeated in the evening: 7-8:30 p.m. at the Family Life Center, 493 North 700 East, Logan (at bottom of Old Main Hill). The longer evening time slot allows for more discussion. Programs are free and registration is not required. For further information: (435) 797- 1569; jean.lown@usu.edu; http://www.usu.edu/fpw/
Bring a female friend or colleague with you who is attending FPW for the first time and you will receive a thank you gift. Please speak up at the meeting and let us know.
Reminder: PowerPoint presentations for the past few years are available on the FPW website.
Is the cost of running your vehicle bringing you down?  Know any high-schoolers who need to "get with it" financially?  Ever wondered how to measure financial success in America? If you said yes, then this month's issue of Idaho's Two Cent Tips is for you.  Check it all out here:
Large file, please allow 30 seconds or more for download.
You can access old issues and listen to podcasts at http://extension.ag.uidaho.edu/madison/itct.htm
Send an email to erickson@uidaho.edu  to subscribe or unsubscribe.
Luke V. Erickson, Extension Educator, University of Idaho, Madison County
Opportunity to participate in research
If you are a woman between the ages of 25 and 55, and have made a positive change in your financial behavior within that past two years, you qualify to be paid for your research contribution!  We are holding focus groups in order to research women and their motivations for financial behavior change. Participants will be paid $20 for participating in a 1-hour focus group.  Contact Megan Rowley, graduate student, via email ( m.rowley@usu.edu ) or via phone (797.0494) for participation details. This research has been approved by USU’s Institutional Review Board. Please pass this info along to anyone who may qualify.
Money Tips for All Ages: Your Finances at Different Stages of Life FDIC Consumer News
For Any Age or Stage
Practical Advice for Everyone on How to Save and Manage Money  
For Teens
How to Ace Your First Test Managing Real Money in the Real World  
For Young Adults
What to Know Before Declaring Your Financial Independence  
For Newlyweds
Starting a Household on Solid Ground Financially  
At Midlife
Multi-Tasking In Your 30s, 40s or 50s  
For Parents
Teaching Children the Financial Facts of Life  
Before You Retire
Getting Your Finances Ready for Your Golden Years  
After You Retire
Managing Your Expenses on a Fixed or Reduced Income  
For Financial Caregivers
Helping Disabled or Elderly Relatives With Money Management, Even From Far Away  
For Major Life Events
Ways to Cope Financially During and After a Big Change  
Foreclosure Rescue Scams: http://www.occ.treas.gov/ftp/Advisory/2008-1.html
The Office of the Comptroller of the Currency has issued an advisory that provides advice to help prevent borrowers from becoming victims of foreclosure rescue scams. Most foreclosure rescue scams fall within three categories. In lease-back or repurchase scams, the con artist convinces a borrower to sign over their deed in return for a promise to lease back or eventually repurchase the property.  Refinance fraud involves a situation where the borrower believes the transaction is a refinance, but in fact, the fraud involves transfer of property ownership to the con artist.  Bankruptcy schemes involve repeat bankruptcy filings to get a temporary stay order to delay foreclosure, but can result in damaging the consumers’ credit without saving their homes. This consumer advisory  outlines what people should watch out for, and provides a list of resources people can use to find qualified sources for help
Children and Money: http://www.extension.org/pages/Financial_Security:_Children_and_Money
The Money Talks Web site for teens and their teachers is now linked with eXtension personal finance resources . Money Talks is the work of the University of California Cooperative Extension and is based on interviews with teens. Along with “Thrive By Five” for parents of pre-school children and “What’s Up in Finance” for older teens (young adults) with entrepreneurial aspirations, the Money Talks  description and the link to games, fun quizzes, videos, and colorful teen guides will appear when searched with key words: children and money.  Money Talks is a multicultural site that provides teens with accurate, non-biased information and financial management hands-on experiences available in English and Spanish. Three modules, “Should I Be Listening?,” “Should I Be Banking?,” and “Should I Be Charging?” cover 10 financial topics, such as money personality, shopping savvy, saving, car buying, banking, and credit.
How to bullet-proof your nest egg. The Wall Street Journal, June 14, 2008
Pricier gasoline makes hybrids a better deal.  The Wall Street Journal. June 12, 2008
The article reports on a comparison by Edmunds.com. Analysis was done with price of gas at $4/gallon but keep in mind that gas prices are likely to climb even higher over the lifetime of your next vehicle purchase.   The WSJ also reports that many auto insurance companies offer discounts on premiums if you drive less.  Check with your insurance company.
Need help saving for college?  Understanding 529 plans (ICI). A 529 plan is a qualified tuition program to help finance qualified higher education expenses. http://www.ici.org/pdf/bro_529_plans.pdf
News & Resources to enhance life-long learning:
Enroll today to become an Aggie Saver at http://www.americasaves.org/utahstate/
Check out the savings strategies and resources. Registered Aggie Savers can get a free consultation at the Family Life Center. Call 435-797-7224 for an appointment.
FINRA e-mail newsletter- sign up
Find answers to your personal finance questions at E-extension website FAQs
Read The Wall Street Journal Sunday in the Sunday Salt Lake Tribune and Deseret Morning News Business Section or read it online: http://www.wsj.com/sunday
Personal Finance Top Tips via e-mail
Often the best way to learn and take action is to receive information and advice in small amounts. Sign up for email advice from Money magazine columnists: http://money.cnn.com/services/newsletters/
Smart Money education series for teenagers 14-18 years and their parents.
Wed. July 16, 6:30- 8 p.m. @ USU Charter Credit Union, 198 N. Main, Logan. In downstairs conference room (enter at rear of building). Workshops are free. To register: 753-4080, ext 3400 or moneyteacher@usuccu.org
July 12 Home Ownership Workshop 8:30 a.m. to 4:30 p.m. Call 435-797-7224 to register.
At: USU Charter Credit Union, 198 North Main, Logan
The USU Family Life Center, 797-7224, 493 N 700 East (bottom of Old Main Hill), provides individual financial counseling. This is the best source for basic money management and getting out of debt. They offer the PowerPay computer debt analysis. Counseling sessions cost $5 for first session with sliding scale charges based on family income and family size for subsequent counseling sessions.
Social Security in Logan: Department of Workforce Services Building located at 180 N 100 W, Logan. 1st and 3rd Wednesdays of each month from 9:30 a.m. to 2:00 p.m.
Books from which to choose if you bring a new participant to FPW:
Your little legal companion: Helpful advice for life’s big events
Nolo’s essential guide to divorce
Divorce and money: How to make the best financial decisions during divorce
Get it together: Organize your records so your family won’t have to
Quick and legal will book
Nolo’s simple will book (with CD)
Estate Planning Basics
The Busy family’s guide to estate planning: 10 steps to peace of mind (with CD)
Long term care: How to plan and pay for it
Social security, medicare, and government pensions
Work less, live more: The way to semi-retirement
Work less, live more workbook: Get set for semi-retirement (with CD)
For more info on these books go to www.nolo.com
Thanks to the Certified Financial Planner Board Grant for financial support of FPW.