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A few weeks ago, I watched the protests around the Olympic torch  with quite a bit of interest. You see, I had already booked and paid for a family trip to Beijing to see the Olympics  this August!

This is something that we had planned on for some time, and we had saved up for this trip over the last couple of years. We even cut back on vacation plans in 2007 to make sure we had enough money set aside for the trip. Generally I am very careful with my money, but I knew that for a once-in-a-lifetime experience like this, I would find a way to make it work!

Before I leave for China, there is one important thing I will do: I will call my credit card issuer and let them know that I am traveling overseas. Credit card companies monitor cardholders' transactions for suspicious activity — this way, they can detect any fraudulent card usage quickly and protect their cardholders by shutting down their card. Transactions in a foreign country are sometimes a red flag for this monitoring, so I will let them know not to shut down my card due to purchases being made in China.

So, barring any unforeseen circumstances, my family and I will be cheering on Team USA  in person this August!

Anyone out there planning to join us?

David

The other day, I overheard my 7-year old son telling my 9-year old daughter that he's learned that money is useless. His reasoning? "Even though I have money, mommy won't let me buy Pokemon  cards at the store!"

Hmmm. That's not exactly the lesson we were trying to impart.

So, my question to all of you out there is, how did you learn about money management? Was it from your parents, a friend, or a class? Was there something someone told you that stuck with you, or did you learn by trial and error? I'm all ears (or eyes) - obviously, I could use a little help with this!

David

"Pssst! Hey, buddy, can I interest you in some free cash?"

Most people would run away or think, "Yeah, right. What's the catch?" But earlier this year, I did indeed get a check for $600 – and I didn't have to spend a penny to get it!

OK, I lied. I actually did have to spend a lot to get it. But it was on things I needed anyway, like groceries, gas, restaurants, etc.

See, I have an optional rewards program on my credit card, so I get one point for every dollar I spend. Whenever I buy something, I use my credit card and get points. When I fill up the gas tank, I get points. When I buy a latté at Starbucks , I get points. When I travel and buy a plane ticket with my card, more points. This spring I reached 50,000 points and called up to get my $600 check. Score!

You can get your own check, too – but rewards programs aren't for everyone. The key is: You have to be able to put as much of your spending as possible on your credit card, and then pay it off in full – on time, each and every month. If you can't do that, the "free" cash will suddenly become a lot more expensive! Finance charges for any balance you carry and late fees for not paying on time add up very quickly! If you aren't very careful and responsible, you can get into trouble fast. So it's best not to try these programs if you think you'll be tempted to overspend or you won't be able to pay on time.

Also, while I don't have to pay an annual fee for my credit card with rewards (another great benefit of working for Wells Fargo!), you may or may not be able to get the rewards program for free. Check with your friendly neighborhood banker to find out.

Well, I've got to run. I've got 600 bucks burning a hole in my pocket, and I've got my eye on one of these... 

Editor's note: Finally, the Student LoanDown adds a male blogger to the team – it only took a year. Welcome, Dave!