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People gamble for many reasons. Some do it for the pure thrill and fun of it, and others just because they’re feeling lucky, and many do it out of habit. There are some people who gamble as a way to relax, socialize or just escape from everyday lives. Whatever the reason may be, gambling becomes a problem when it is done in excess. In fact, people often don’t realize that it’s become an addiction, until they are in so deep and affects normal life.

An uncontrollable urge to continue gambling, irrespective of the consequences it has on your life is known as compulsive gambling. Compulsive gambling is an extremely serious condition and can cause vast destruction.

The internet is filled with sites dedicated to the art of gambling, but not all of them are built to encourage gambling. There are sites that are built to help gamblers who have come to realize they have developed a problem - they have become an addict of the profession.

Gambling anonymous is just one of many forums that are springing up to help people who have become obsessed with gambling (also called compulsive gambling). With the relative ease by which online gambling can be begun, and the wide variety of options the internet presents, stumbling on sites promoting gambling is very easy. Even easier is finding a niche in the vast gambling world that will appeal to the individual.

As an art, gambling has always had high addictive properties. It is why people are advised to decide on a betting limit, before they begin and urged to resist from borrowing or chasing their losses. But despite the warnings most people fall prey to these mistakes and over time, develop a slow pattern that soon spirals into the destructive spin of compulsive gambling. Compulsive gamblers are people who have allowed the art to take over, thus their lives resulting in far reaching social and psychological effects.

How Do You Know If You Are A Compulsive Gambler?

There are many ways of determining if a person is a compulsive gambler. Gamblers anonymous, offers the following questions to help in deciding if a person is suffering from compulsive gambling. They will usually answer yes, to any 7 of the following.

1. Does gambling cause you to skip work?

2. Is your home life a mess due to gambling?

3. Is your reputation spoiled due to gambling?

4. Do you ever regret gambling after you’ve done so?

5. Are you gambling in the hope of ending your financial troubles?

6. Is your efficiency or ambition affected due to gambling?

7. Do you lose time from work due to gambling?

8. After you lose a game, do you have this need that you must return to try and win back what you lost?

9. After winning, do you want to go back and try and win some more?

10. Do you keep gambling till you don’t have any money left?

11. Do you borrow so that you can gamble?

12. Do you sell stuff so that you have money to gamble?

13. Have you considered doing something illegal so that you have money to gamble?

14. Do you spend sleepless nights thinking about gambling?

15. Do you think twice about spending money on other things besides gambling?

16. Do you often gamble more than you planned to?

17. Are you gambling to forget your troubles?

Compulsive gamblers like alcoholics are in need of help. If untreated, the effects are far reaching. They become distant and detach themselves from their families. It is difficult for them to break the habit on their own. If you have a friend or relative who is suffering, it is prudent to get them help.

Compulsive gambling can be treated, and one just needs to have the right approach and direction. As mentioned earlier, there are many websites, blogs, online forums that have great trips and suggestions on how to get out of it. If this doesn’t help, one can always seek professional assistance. Always know, that you have plenty of options, so do not give up and find out ways that can help you kick you off your habit of gambling, for good!

With Ronald Reagan came mass deregulation in many industries. One of the industries that benefited from deregulation was the financial industry. As a result, hundreds of new financial companies were introduced to the American consumer during the 1980’s.

With the sudden explosion of new competitors in this industry, credit card companies began to struggle with how to retain existing customers and to recruit new customers.

So, financial companies took their cue from the airline industry. The airline industry had preceded the financial industry in deregulation, and they had met the new increase in competition with Airline Miles programs to encourage brand loyalty and repeat customers.

Noting the successes in the airline industry, credit card companies soon began to offer their own clients Airline Miles for repeat business. But, Airline Miles were not attractive to the whole of the consumer credit card market.


Credit Card Providers Upped The Ante

Once the credit companies realized that Airline Miles could only offer them limited success, they began to spread their wings and to offer additional credit card reward programs to their potential customer base.

Banks eventually changed the name of their rewards from credit card miles to credit card points to address the fact that consumers could earn far more from their company than just free travel. Consumers began to sit up and really take notice of these new kinds of credit card offers.

Through the 1990’s and into the new millennium, consumers began to find that most of the primary players in the credit card market were offering various mixes of credit card rewards. The most common credit rewards offered are still airline, travel, gas, and cash-back rewards.

Other types of credit card rewards offered to consumers include low-interest or 0-interest credit card balance transfers. Another type of reward is 0-interest or low-interest borrowing for the first six-months or one-year.

Credit Tip #1: Credit card balance transfers and early-bird credit card offers such as the no interest for six months will remain in effect for the full amount of time stated, so long as all credit card payments are made on-time. A single late payment on one’s credit card payment will likely be viewed as a breach of contract, leading to a higher interest rate from the date of the late payment or even from the credit card sign-up date. Whatever you do, make all of your credit card payments on time for the entire amount due according to your monthly statement.


Expanded Travel Rewards Brought Real Value to Consumers

Credit card travel points were a real blessing for ordinary consumers. Family vacations are generally taken within 200 miles of home, so most consumers would never use the free airline travel offered with credit card miles programs.

Credit card points or travel rewards offered more options to consumers as to how the consumer rewarded themselves for their loyalty to the credit card company. In many cases, travel rewards can be extended to include fuel, hotel rooms, attraction entrance fees, and food at restaurants. As a result, consumers can expect to utilize their travel rewards, even if they jump in the car and drive down to the next major city.


Cash-Back Rewards Added A New Dimension To The Financial Game

Credit cards can be your best financial friend if you know how to work the system.

Cash back rewards range from one- to ten-percent of the amount spent on the credit card. Clever consumers make those cash-back rewards really count by using them for all of their purchases.

One can start the month by putting their paycheck into the bank and then use their cash-back credit card to pay for everything that can be paid with a credit card through the month. This might include groceries, food, fuel, utilities, car payments, house payments, etc. As each credit card purchase is transacted, the consumer should write down the amount of the expenditure in their checkbook. Then at the end of the month, when their credit card bill arrives, the consumer can write a check for the entire balance of their card for that particular month.

This way, the consumer can maximize their cash-back rewards and never carry a balance on their credit card. If one pays $3000 per month in bills, and all of those bills can be paid with their credit card, the consumer could very well receive an extra $30-300 back from their credit card company.

Credit Tip #2: The added benefit of using this method of bill paying is that you are building your credit rating as you pay off the entire balance of the credit card each month.


Selecting the Right Credit Card Offer

Don’t be afraid to shop around to find the best credit card offers. Before you begin your search, sit down and sketch out some goals that you would like to reach using your credit card.

Perhaps you would like to transfer your credit card balance from one high-percentage credit card to one with a lower interest rate. Maybe you are more interested in the percentage value of cash-back reward. You might want to get a credit card that offers extra points or a credit card offer that will let you earn credit card points towards the purchase of a Sony big screen television. Whatever your financial goals might be, make sure you know what they are before you begin your search.

On your first pass, eliminate the credit card offers that do not provide the kinds of rewards that you are looking to achieve. Your first selection round will generally narrow your field by two-thirds.

Once you have knocked down the list of offers, then get out a pencil and paper and develop a checklist that will allow you to compare each offer side-by-side. This phase will let you determine which credit card will best serve all of your desires. Of course, you may have to make compromises with yourself, but when you are done, you will have found the best credit card offer for your situation.

If you have the bank’s brochure in front of you, it will likely have a credit card application inside of it that you can fill out and send in to the company. If you are relying upon credit card applications by mail, make sure you keep your list handy until you have gotten a card you are happy with using.

If you have an Internet connection, you will be able to shop a huge variety of credit card offers. By following the method shown above, you can make a good decision about the cards you want to try to acquire, and you can file an online credit card application with the expectation of getting an answer on that card within just a few minutes. If you are turned down on your top pick, then move on to your second top pick. By using the Internet, you can actually reduce your credit card shopping time by as much as weeks.

It seems there is today in these current hard national economic times, palpably one ominous additional burden for the average heavily indebted American consumer who, perhaps, sees his or her only recourse for some relief from his crushing debt as lying in filing bankruptcy: the cost for bankruptcy, and finding cheap, low-cost bankruptcy that debtor can afford. This often mean, in essence, finding pro se or non lawyer bankruptcy alternative.

The latest figures just released by the Administrative Office of the U.S. Bankruptcy Courts on the February 2009 bankruptcy filings, made one vital reality crystal clear to almost every one, namely, that the rate at which the increasingly overburdened and restive American debtors (both individuals and businesses) are filing for bankruptcy, is at its highest levels since the now-famous (or infamous, many would say!) draconian changes of 2005 to the U.S. bankruptcy law. But, even more significantly, that the new filing rate is ominously beginning to return to the old \”hated\” high bankruptcy filing levels that the nation had reached before that new law was passed in 2005, supposedly meant to correct and drastically curtail or reverse the then pre-existing high filing levels.

This latest trend in American debtor bankruptcy filings strongly underscores a few fundamental points, among others. First, the depth and gravity of the financial straights and difficulties in which the average American consumer and debtor is in today. Second, the reality that, no matter how difficult a legal hurdle and impediment the institutional powers that be (the Congress, the lawyers, or the financial institutions, the courts, etc) may try to place on the path of the American debtors to try discouraging or making it more difficult for them in seeking the bankruptcy relief from their debt burdens, when it really comes time of dire financial and economic crunch, Americans will somehow still find a way, and will still persevere and persist even against all odds, in demanding their constitutional rights to be heard in bankruptcy; and thirdly, the critical necessity, for the average debtor, for finding low-cost bankruptcy filing alternatives to lawyer.

Elizabeth Warren, a Harvard Law School professor and author of several books on bankruptcy, probably sums up the point best this way, alluding to the persuasion of the Congress by various special interests to pass the 2005 law that restricted debtors from filing for bankruptcy: \”The credit industry [and other vested interests] did its best to drive up the cost of filing [for bankruptcy]. But when families are in enough trouble, they will fight their way through the paper ticket and higher attorneys’ fees to get help,\” adding that \”The word is now leaking out [once again] that the bankruptcy courts are open for business.\”

THE \”UNOFFICIALLY BANKRUPT DEBTORS\” - DEBTORS WHO CAN’T FILE BECAUSE THEY CAN’T AFFORD IT

But, even most importantly than that, from the standpoint of the average bankruptcy-seeker today, this raises one fundamental questions, however. Namely, just how do the current growing army of increasingly despairing American debtors who not only seek to file for personal or business bankruptcy, but in a great deal of cases, truly NEED to file one, AFFORD to file bankruptcy - in particular, the high lawyers’ legal cost of filing for bankruptcy? How do these debtors get or find cheap, low-cost bankruptcy? A bankruptcy that the debtors can reasonably afford?

Clearly, the cost for bankruptcy is gradually emerging as one of the most critical impediments to being able to file for bankruptcy for the average debtor seeking to file bankruptcy. Some 1.1 million (1,064,000) American debtors filed for bankruptcy this past 2008 year - filings which, many analysts are quick to remind us, were carried out by these debtors in spite of, and under tough conditions of, a whole host of stringent, restrictive requirements and drastically increased legal fees imposed by the 2005 law. But, even more significant, from the stand point of the debtor or bankruptcy-seeker, is another closely related FACT: that, worse still, according to experts, THERE’S NEARLY AS MANY AMERICAN DEBTORS MORE who wanted to file for bankruptcy and are eligible, but could not, because they simply couldn’t AFFORD the lawyers’ legal fees. These are debtors who Justin Harelik, a bankruptcy lawyer with Price Law in Los Angeles, call the \”unofficially bankrupt debtors\” - debtors who are all but bankrupt but only lack the lawyers’ hefty price to make their status official!

YEARLY NUMBER OF BANKRUPTCY FILINGS SINCE 1998 (Source: creditslips.org)

Year…..Bankruptcies Filed……… Source and Notes

1998…….1,442543…………….AO data……(Office of U.S. Courts)

1999…….1,319,465…………….AO data

2000…….1,253.444……………A.O data

2001…….1,492-129……………AO data

2002…….1,577 ,561…………..AO data

2003…….1,589,383……………AO data

2004…….1,597,462……………AO data

2005…….2,078,415……………AO data……. includes spike in filings before 2005 bkr. law

2006…….590,544……………..AACER data… (Automated Access to Court Records)

2007…….826,665……………..AA.CER data

2008…….1,064,000…………..AACER data



EVEN THE LAWYERS AGREE, THEIR BIG FEES IS A PROBLEM WITH DEBTORS

In deed, though many bankruptcy lawyers would rather that it be shaded, many other lawyers, themselves, objectively acknowledge that the lawyers’ legal fees for bankruptcy is a principal frequent issue and concern to debtors and clients in bankruptcy law practice.

\”You have to pay the Chapter 7 legal fees upfront in cash. You can be too poor to go bankrupt,\” is how Professor Robert M. Lawless of the University of Illinois College of Law once put it.

Another observer, Jenny C. McCune, a contributing editor at Bankrate.com, notes that rather astoundingly, we’ve now come to the point where a debtor may have to \”finance bankruptcy filing,\” adds: \”It may sound like a Catch-22…you have no money so you’re filing for bankruptcy, but you need [legal fee] money so you can file for bankruptcy.\”

Janathan Ginsburg, bankruptcy attorney, Atlanta, Ga., explains that in phone conversations he often has with callers facing severe financial crises who are pondering possible bankruptcy, after their initial question which is often general in nature, \”The next question I get has to do with fees: ‘If I have no money, how am I supposed to pay for a lawyer?’\”

BANKRUPTCY LAWYERS’ ARGUMENTS FOR THEIR HIGH FEES

Bankruptcy lawyers, schooled in the art of argumentation and the defense of even the clearly indefensible, particularly when it centers on the protection of a lucrative means of making a living, would often plunge into what, in essence, are really deep philosophical arguments in justification of the high fees they charge - it is really still a \”bargain\” for debtors, some argue, considering the much larger sums they stand to discharge in bankruptcy; if a debtor is \”really\” hard pressed enough by his debt burden and is \”serious\” about freeing himself of it, he’ll somehow find a way; a debtor, if he is really \”serious,\” can always find the lawyer’s fees somewhere by, say, withholding the payments he would have had to make to other creditors and then using it to pay the lawyer to free him of the bigger debt burden, etc., etc. It is a complex web of arguments that would have to wait for another day to address. But, for our current immediate purposes in this article, the relevant issue is crystal clear. The point, clearly, is that for the average American debtor today, already reeling from the high debt burden which is the prime object he’s out attempting to address through bankruptcy filing, the average lawyer’s fee for bankruptcy (some $2,000 or more for the simplest Chapter 7 bankruptcy, and $4,500 for its Chapter 13 counterpart) is high, in deed even exorbitant, and frequently is just plain beyond his means - in short, simply UNAFFORDABLE.

LAWYERS’ FEES HAVE PRICED OUT A LOT OF DEBTORS

Seems that the bankruptcy lawyers, through greed and monopolistic instinct, are gradually pricing themselves out of the personal bankruptcy filing business, that the only realistic alternative now left to the tried, seems to be a low cost, cheap non lawyer bankruptcy that debtors can reasonably afford.

\”Surveys have shown that many attorneys have doubled their fees to cope with new requirements imposed by the BAPCPA of 2005. Many thousands of debtors have therefore been priced out of lawyer representation in their bankruptcies,\” asserts Stephen Elias, a California attorney and bankruptcy specialist and author of several books on the subject. \”Because of rules governing the practice of law, the only legal alternative to attorney representation is self representation… bankruptcy petition preparers can assist with your paperwork.\”

The point, then, is crystal clear. The fundamental task at hand this very minute in the field of bankruptcy, is devising a credible system that is low-cost for filing bankruptcy, which is simple, straighforwards, and readily accessible, and is, above all, AFFORDABLE to most debtors who legitimately seek or need bankruptcy and are qualified and eligible to file under the eligibility rules. It is, after all, no \”gift\” or some kind of \”favor\” being meted out by \”the law,\” or some kind of mercy-peddling do-gooders of the legal establishment. But, a direct sacred right and gift of the American Constitution.

It is a task which confronts us all, particularly the bankruptcy constituency and the bankruptcy industry powers-that-be who control the current bankruptcy system - the financial and credit industry, the courts, the Congress, but including private entrepreneurs and ideas persons who can come up with new or fresh ideas about how to fix the current broken personal bankruptcy system, and yes, the current bankruptcy lawyers and bar, and others.

But, of more immediacy and urgency in the mean time, however, while we await such a new system to be designed by the responsible parties, qualified American entrepreneurs, institutions and entities who are able, should be free to come up with practical and effective ways and methods - alternatives to the current wholly deficient and inadequate lawyer-controlled bankruptcy system - that actually enable legitimate bankruptcy seekers to exercise their legitimate constitutional right to seek the bankruptcy relief option when and if necessary - simply, accessibly, and AFFORDABLY. In sum, America, both the public as well as private sector, must fast prepare for, devise, and implement, a drastically different but effective bankruptcy filing system that provides the current million plus per year and the upcoming additional millions of bankruptcy filers who will be coming into the bankruptcy filing pipeline per year, a genuinely affordable means for them to file for bankruptcy - the 1.4 million American filers (or more) that are expected to seek the bankruptcy relief in 2009 calendar year alone, and beyond.

Being debt-free! What would that mean for your life? It could mean the difference between a good retirement and a great retirement leading to more freedom to have the things you want. Gaining prosperity will no longer be incredible to you - it will simply be who you are.

There are three basic scenarios people find themselves in. Each scenario describes the differences in financial viewpoints. Universally, all potential retirees share the same need to learn how to increase their resources and decrease their liabilities. You will have the luxury to create a plan that will give you significant knowledge of your debt, opportunities to develop discretionary income and a strong focus on your financial goals.

In the first Scenario if you are in your 20’s or 30’s and more than 40 years away from retirement, accumulating money is only one aspect of your achievement. Controlling debt is the other side of the coin.

You have to understand that retirement is your own responsibility, learn that your youth assures you the benefit of time to double or triple the money you save and realize you have the awesome capacity to stay out of debt and achieve the success of amassing wealth.

In the second Scenario retirement is viewed as a continuum; a circle that includes saving money, controlling debt, and preparing for the future. If you are, 40 and looking forward to retirement in 20 years there are fewer pensions to rely upon. Therefore contributions to 401(k)’s, IRA’s, etc. become your lifeline to retirement requiring the understanding of propelling yourself into a mode for accumulation of capital. Secondly, consider how obligations have made it difficult to find the discretionary income you need to fund retirement and thirdly, that you are still in a great position to double your pre-tax savings and achieve your goals.

Retirement from the perspective of our forefathers was seen as an ending. Very rarely did men go back to work. If you are 65, retired or very close to retirement, you will remember your dads and grandfathers leaving their jobs with their pensions and/or social security intact. Today we need new strategies.

To live your dream of retirement you want to realize the many opportunities you still have to increase your retirement wealth. Consider a fiscal review to adjust your investments, your budget and your debt and you will have the income you need for the next 25 or 30 years of your life.

Ultimately, you will give yourself the major attribute of fiscally successful men and women, your ability to stay out of debt.

Living in debt is one of the greatest failures at all levels of American society. Many people have discussed the importance of saving for retirement as early as possible, using the time value of money as the major factor in achieving success in retirement.

The truth is debt management cannot start early enough either. When your debt is minimal, for needs only, you can stop the bleeding from your bank account and investments by buying less. Begin to learn how your buying and spending habits contribute to your debt. Uncontrolled Debt has the most disastrous effect on your lifestyle and retirement.

Anyone living in debt will recognize how true this statement is for them. Everyday brings a fear of not meeting the months living expenses including the minimum payments on your credit cards. Checking caller ID to prevent yourself from answering a call from yet another collection service causes indigestion, or an upset stomach, because the calls always come at dinner time. Going to bed when you are ready to relax and sleep brings new nightmares of losing your job and losing everything you were working so hard to keep.

You will recognize your responsibility in preventing debt, because your lifestyle from this day forward depends on you… your ability to control your spending, learning where you will save money and the difference between good debt and bad debt.

You will not gain freedom to live worry-free or to retire without changing your debt habits. Using credit cards and loans expands your purchasing options and ultimately, your bad debt.

You must be careful that while spending cash, you are not falling into the category of \”Bad Debt\”. Bad debt pertains to those things you want, but do not necessarily need. Bad debt may also encompass impulse buying or purchases discussed with your partner, decided upon, and bought without money to back them up.

Discretionary money is money that should be left over after you have covered your living expenses. How does spending available cash or debit/credit card purchases lend itself to bad debt? The first problem I am describing is spending until your discretionary money is gone each month. Many people feel that if there is money left over, they should be free to spend it and they do, until there is nothing left each month.

The second problem occurs when your expenses exceed your paycheck …. needing an extension to your cash flow to meet the operating costs of your home life. This is where the credit cards enter into the debt picture, literally, painting yourself into a corner.

Good debt is debt to cover necessities… the purchases that you need: a roof over your head, transportation to and from work, food, clothing, etc. It is responsible debt within your means and does not extend into credit card usage. It does extend into savings though, if necessary considering it a payment to yourself, each and every month.

You need to learn to live not only within your means but to find the money in your financial strategy to meet your contribution goals for IRA’s, 401(k), etc. and make sure when you retire you will be fiscally capable of fulfilling your retirement dreams. Because being debt-free is the cornerstone of your current life and the basis of your future.

Good debt/bad debt: Confusion between your needs and wants are dispelled by asking yourself how your life will be affected if you do not have this item. This question is a very large factor in preventing the occurrence of debt.

You and your family need to be clear on this concept of needs and wants and learn to save for \”wanted\” purchases as well as emergencies. I would ask questions, such as \”Do you have a rainy day fund in case you need to make important repairs or more importantly, if you do not have a cash reserve fund, how do you plan to pay the bill on your next repair?\”

This is a major aspect of debt habits. Without a plan for emergency spending, you will enter into a debt spiral. A debt spiral causes your available cash to stay beneath the savings line, continuously circling downward into deeper debt, paying more and more in monthly fees, and consuming your discretionary income. Then the next emergency occurs and the spiral deepens, again.

You and your family need to know how to save and eventually, conquer this problem of increasing liability. Education remains the most important concept for you and your family to assimilate into your standard of living in order to recognize the issues that tend to destroy your investment savings and your family’s lifestyle.

After facing the monumental task of visiting college campus after college campus, prodding your soon-to-be college student to write those essays and meet those deadlines, filling out applications, pulling mountains of financial data together, completing FAFSA and Profile questionnaires, and overcoming the initial shock of your Expected Family Contribution, you wait. And you wait. And you wait some more. Until, finally, college award letters arrive in your mailbox.

After analyzing the award letters, regaining consciousness and swallowing hard in disbelief at the actual cost of a higher education, you, like many parents, needlessly settle for paying \”full price\” for your child’s education.

Believe it or not, the decision to reduce your college expenses is entirely in your hands. While it’s commonly believed that there’s nothing you can do to reduce these expenses, as a financial planner and as a parent, I can assure you that the strategies not only exist, but they’re also very effective.

But on the flip side of the college funding coin, there are some pricey mistakes that any parent can make. Let’s take a look at three mistakes that are guaranteed to keep your college expenses sky high.

Mistake # 1 - Assuming That Your Award Letter Is Set In Stone.

Fact: Your initial award letter from colleges is not set in stone. How is this possible? Well, there are a few different factors that can affect the figures you initially receive.

Often, students who have been accepted at and have sent in their deposit to one school actually end up attending another school. When this happens, the school, having already budgeted for the size of the incoming class, is now faced with a decision about how they’re going to fill those vacant seats. At this point, they become more willing to sweeten the deal for certain students and provide better financial packages in order to maintain enrollment goals.

Additionally, schools will rank potential students from a desirability standpoint - they claim they don’t, but believe me, they do! Your student will fall someplace in this \”pecking order.\” Financial Aid packages are customized with this ranking system in mind and award letters are sent with stated deadlines for acceptance.

Keep in mind that not all students who are above yours in this order will end up at this institution. I dare say that most won’t, which leaves a potential opening for you. How? Well, doesn’t it make sense that if candidates who are placed higher in the food chain decline the offer to attend, that more money is potentially available to be applied to your favorite candidate?

Mistake # 2 - Not Understanding The \”Early Decision\” Application Process.

Under the early decision application process, your student agrees to a binding commitment if the college accepts your child and offers an adequate financial aid package. Although your child may apply to other colleges through the standard application process, if your child is accepted by the \”early decision\” institution, your child must then withdraw all other applications.

So, how can the early decision process cost you big bucks? Let’s try looking at this from a different perspective. Imagine you are currently in the market for a new car. You know exactly what make, model, color and all the little goodies that you want in order for it to be for a successful purchase.

You then stroll into your neighborhood car dealership, let them know all of your requirements and conclude by saying, \”I am going to buy the car today, you’re basically the only dealership I am going to, and dog-gone-it, I want your best price.\”

By applying \”early decision,\” you are basically informing the college that they have no competition. So, unless your student meets all of their desired requirements, you may be leaving money on the table.

If you decide to pursue \”early decision,\” make sure you have a complete understanding of your rights and obligations as they pertain to that particular institution. Also understand what constitutes an \”adequate financial aid package\” so that there are no surprises.

Keep the competition alive and consider an \”early action\” application - your savings may be considerable.

Mistake # 3 - Not Developing A Relationship With The Financial Aid Office.

Most parents and students lack an understanding of the relationship they should develop with financial aid officers and the role that the financial aid office can play in reducing college costs.

First of all, it is very important that you establish a personal relationship with the aid office at your potential schools. The old saying, \”It’s easier to help someone you know than a stranger\” certainly applies.

Second, you should understand that college financial aid is big business and that the goal of each individual financial aid office is to meet enrollment goals set by the institution with the best \”fit\” student at the least cost to that university.

That being said, the Director of Financial Aid has broad discretion when it comes to adjustments made to your financial aid application. This is referred to as \”professional judgment\” and allows the officer to change items as he or she deems fit in order to more accurately reflect your financial situation.

Special circumstances include such things as one-time bonuses, loss of employment, disability and large medical expenses. Be sure and document these expenses and notify your financial aid office of these special circumstances as they occur.

So, yes, we all make mistakes. And with a monumental and often confusing task like college financial planning, it’s especially hard not to trip, slip up and flub now and then. But with careful planning and an understanding of how the college financial aid system works, you can avoid the mistakes that mean the difference between saving big bucks and breaking the bank.

With the stock market down 55% or so from its high of October 2007, many investors feel they are between the proverbial rock and a hard place. We’ve all seen the data that shows that over the long term, stocks outperform every other common asset class, but that knowledge certainly doesn’t make the going any easier on a day to day basis. And with the shocking events surrounding the instability and collapse of some of this country’s biggest and reputable institutions, the long-term picture gets even hazier.

So what are your options, knowing that you need equities for portfolio growth and inflation protection, but are very uncomfortable with the stock market? Here’s an idea I’ve been sharing with other investors that makes sense to them.

For starters, all successful investors from Warren Buffett to Peter Lynch focus on companies whose products and services stack up nicely from a supply and demand standpoint. On the demand side, investing in areas where demand is stable or increasing would appear to fit these guidelines. An area that I feel meets these criteria is the consumer staples sector. Thankfully, I am not alone in this assessment. Wall Street strategists such as Richard Bernstein are expecting good relative performance from this industry.

Consumer Staples contains such household names like Wal-Mart, Procter and Gamble, Coca Cola, and General Mills. Economists have touted the inelasticity of consumer goods for years, and with good reason. Regardless of how poorly we are doing financially, we still find the money to buy food, beverages, and toiletries.

The County Fair

Every year I go to an old fashioned county fair. This is not just any ordinary fair; it is reputedly the largest tent fair in the nation. Yes, believe it or not, people actually pitch tents or park their RVs and camp out for a whole week. And there is a 40-year waiting list to get a campsite! Thousands come from miles around for the fellowship, competitions, and well, the food. Frankly, many people I talk to come solely for the last reason. There are vendors offering everything from French fries to snow cones.

With the economy in recession, I was very interested to see if this fair would be slower than most. I spent practically the whole weekend at it. There were no signs that attendance was down or that concession stands were less busy than normal. Matter of fact, I had my normal tedious time making my way through the throngs of people to the next concession stand.

Just to make sure I wasn’t imagining anything, I spoke with one of my friends who own a stand. He said business was even better than normal. A phone call to the Fair management also confirmed this. Attendance was as good as last year, and the vendors reported an average increase of 10% in sales. And this considering that food at a fair is not exactly cheap. You can get an ice cream cone one block from the fairgrounds for half the price. It did not make a difference.

Some analysts on Wall Street have been concerned about consumer goods companies this year, because they feel that rising commodity costs impact the bottom line. With the price of oil and other commodities well off last summer’s highs, this fear seems to have dissipated somewhat. Also, it seems to me that these companies are not exactly taking these increases lying down. They’re passing them on to the consumer. I noticed this at the fair. Prices on many of my favorite things were up 5 or even 10%.

I am noticing a different approach at restaurants I routinely visit. Instead of raising prices, many are cutting portion sizes.

How have consumer staples done so far in this downturn? Over the past twelve months, the Dow Jones U.S. Consumer Goods Index is down 35% as of the date of this writing. The S