If your monthly income minus your typical monthly expenses (not including your unsecured monthly debt payments) leaves enough to pay off all of your unsecured debt then this program maybe right for you.  We can even include student loans!  If this sounds of interest to you, write comments or questions on this blog or click here.

Remember that as of November 1 of this year, gift cards will not expire. Under the Gift Card Regulation, part of Alberta’s Fair Trading Act, there are no expiry dates allowed on gift cards or gift certificates, and no inactivity fees or dormancy fees. It was estimated that up to $180 million each year was lost through non-redemption or expiry of the cards, so this is good news for consumers. Check out www.servicealberta.gov.ab.ca for more information. Do remember, though, that the regulation cannot help if a merchant goes out of business, so the cards should be used promptly.

Is there a way to stop the back to school spending insanity, or at the very least, find a way to manage your money without sending your family budget into a freefall? The answer is yes.

Back to school doesn’t need to be a stressful time financially if families do a little advanced planning and follow some smart savings tips, says Tracy Watson, director of communications with Money Mentors, a division of Credit Counselling Services of Alberta

“Once your children are in school, you can track related expenses to get a sense of how much you spend. Then it’s a matter of beginning to save a bit each month so that in August, there is money to buy what’s needed,” says Watson. “Ideally, saving should take place year-round or at the very least, start in the spring.”

She adds that it really comes down to choices. “Ask yourself, ‘How much am I willing to spend and what do I need to put away ahead of time to reach that amount?’ ”

As a single mom of three school-age children, Watson knows how hard it is to stick to a budget.

“I’m open with my kids about what we can and cannot afford. Sometimes, I’m sure they wish I had another job,” says Watson with a laugh. “We have a clear jar in our kitchen that we fill with change. It’s our way of saving for those ‘extras,’ like a family vacation, which we couldn’t otherwise afford.”

If kids are old enough to understand money concepts, Watson recommends sharing the family budget with them. By inviting older children to be part of the decision-making process, it sets a good foundation for smart money management skills in the future.

“Get your kids involved in buying clothes. Go through their closets beforehand so you know what they need. Give them an allowance to buy their school wardrobe. If they decide to blow it all on a pair of designer jeans, they need to live with that choice,” she advises.

“Younger, elementary-age children are often not aware of brand names, and stores like Wal-Mart and Superstore offer quality kids clothing at reasonable prices.”

Other tips that can help stretch your back to school budget include:

Recycle school supplies from previous years, sprucing them up with stickers and markers for a fresh look;

Shop second-hard, consignment and used sports equipment stores for clothing and equipment;

Say “yes” to free stuff like pens and pencils given away at special events, stores and even birthday party loot bags;

Wait to shop until after school starts when retailers typically put clothing on sale; and

Bargain shop for clothes and supplies all year long, putting things away so they will be “new” in September;

Some school-parent committees are now taking a proactive approach to managing the cost of school supplies by offering parents a bulk buy opportunity for essentials like notepads, pens and pencils and glue at the beginning of the school year.

“My kids attend St. Sebastian in Chaparral and I pay $60 per child for school supplies, which takes care of the entire year,” says Watson. “It’s great because all the kids have the same stuff and there is no competition for cool pencil cases, binders and other things.”

She suggests that parents without a school-organized supply program can easily get together with friends and neighbours to buy bulk and realize some big savings.

The bottom line is that with a little planning, advanced saving and creative shopping, September doesn’t have to be a time for singing the money blues. For more information on Money Mentors and to see a full list of money management classes, including Kids and Cash, visit www.moneymentors.ca.

• 21 Aug 2008
• Calgary Herald
• BONNIE ELGIE FOR NEIGHBOURS