September 2005 Newsletter

September 14: Start your own money club. A money club is not an investment club; it is an educational support group to help members learn about personal finances and investing, to manage their money more wisely, or to achieve specific goals.
FPW meets 12:30-1:30 p.m. in Family Life room 318 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).
Upcoming programs:
October 12: Boost Your Savings! Presenter Ann House, USU Extension Family Finance Educator, will present the new Utah Saves program and the $500 Savings Challenge: Preparing Women for a Rainy Day
November 9: Insurance: Basic principles that can be applied to all categories of insurance plus specific tips on property insurance December: No program scheduled.
Website of the Month:
The Money Club:
This web site includes everything you need to start your own club.
The Good Life: Planning and Preparing for Your Retirement Future USU Extension Services and USU Community Credit Union are pleased to co-sponsor this financial education series.  Classes and materials are provided at no cost to participants.  Schedule of sessions:
Date Time Subject
Sep 28 7 to 8:30 Determining Amount Needed to Retire 
Oct 26 7 to 8:30 Social Security Issues
Nov 30 7 to 8:30 Financial Planning for Retirement
Jan 25 7 to 8:30 Preparing for Retirement: Strategies for Catching Up
Feb 22 7 to 8:30 Understanding the Stock Market
Mar 29 7 to 8:30 Needs of the "Sandwich Generation"
Apr 26 7 to 8:30 Protection Yourself Against ID Theft
All sessions will be held in Multi-purpose Room: Suite 109, Cache County Administration Building, 179 North Main, Logan, UT
To register, contact:
Adrie Roberts, USU Extension - Cache County, 179 North Main, Suite 111, Logan, Utah, 84321.  (435) 752-6263.
Books of the Month
Pay it down: From Debt to wealth on $10 a day
by Jean Chatzky, Portfolio Books ISBN 1-59184-063-5. Read a summary and review at:
Creating your own retirement plan: A guide to Keoghs & IRAs for the self-employed
by Twila Slesnick & John C. Suttle
Berkeley, CA : Nolo, 2002.
MERRILL - Books, 3rd floor KF 3510 .Z9 S545 2002
Take Action!
To stop the flow of credit card applications in your mailbox: call 888-567-8688.
Get your name off the lists for either 2 years or permanently. You will be asked to provide your name, address and Social Security number (credit reporting agencies already have you SS#).
For those who have not taken advantage of obtaining their free annual credit report - use one of the following methods:
Access via the Internet (returned on-line immediately):
(https indicates a secure site) By telephone: 1-877-322-8228 (Usually mailed within 2 business days).
In writing: P.O. Box 105281 - Atlanta, GA 30348-5281
On-line and telephone orders: They can opt to receive one, two, or all three reports. Experian, Equifax and TransUnion (TU) Each bureau will give them an option purchasing their credit score as well; the credit score is not part of the free offer and usually runs about $5.00 per bureau.
Financial humor: Why were drive-in banks invented?
So vehicles can visit their real owner.
(Do you have some $ humor to share? Please email Jean)
Advice from Wall Street Journal writer Jonathan Clements: Billions of dollars are sitting in mutual funds with wretched records. Seven funds with more than $10 billion in assets that have lagged their category average over the past 10 years:
Fidelity Blue Chip Growth
Fidelity Magellan
Oppenheimer Main Street
Putnam Growth & Income
Putnam Voyager
Templeton Foreign
Vanguard European
If you own any of these funds it's long past time to sell. Sell and invest in one of the mutual funds chosen by my Advanced Family Finance students and presented in the May FPW. The PowerPoint presentation is available on the FPW web site:
MONEY magazine September 2005 "feature story on the Identity Theft Protection Racket is a must read and offers lots of free alternatives to pricey insurance, credit monitoring services and credit bureau products. See the charts on pages 115 and 116. In a related story, on August 16 th the FTC fined Experian's subsidiary almost $1 million charging that it deceptively marketed "free credit reports" by not generally disclosing that you'd be charged $79.95 if you failed to cancel within 30 days. To find out if you are eligible for a refund, go to"
The USU Family Life Center, 797-7224, 493 N 700 East (bottom of Old Main Hill), provides free financial counseling and occasional workshops. This is the best source for basic money management and getting out of debt. They offer the PowerPay computer debt analysis for free.
Financial Planning for Women (FPW) is a monthly educational seminar that meets the second Wednesday of each month at two times: 12:30-1:30 p.m. in Family Life room 318 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. Bring a friend! For further information: (435) 797-1569;
Jean M. Lown, Ph.D.
Family, Consumer, & Human Development
UMC 2905, USU, Logan, UT
84322-2905 435-797-1569; FAX: 435-797-3845