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Did you know that October 16 is Get Smart About Credit Day? 

We've talked about it here on the blog before, but just as a refresher, it's an event sponsored by the American Bankers Association to help bankers teach students about using credit responsibly.

Wells Fargo is participating for the third year in a row, and I've been fortunate enough to be part of the working team. With the rising concern about the economy and increasing credit card debt, it has never been more important to help educate new users of credit cards and other credit products about their wise use.

Our team has planned all sorts of valuable credit-education events: in-store seminars, presentations at schools and college campuses, and even some workplace sessions. And we especially want to encourage productive conversations about credit-card readiness between parents and teens. Wells Fargo bankers have lots of great resources at the ready — all you have to do is ask!

In the meantime, if you want to check how credit smart you are, take this knowledge quiz. Or if you have credit questions, ask them here!

Dinna

A few weeks ago Staci blogged about back-to-school spending and how students and parents will spend less this year than in previous years. Sounds like everyone is trying to save money these days!

If you're among them, did you know that if you have a Visa card, you can get exclusive savings, tips, special discounts, and more on the Visa website? 

Just click on "Personal" and select "Visa Student" to find:

• Student savings, discounts, and offers from online places you love to shop

• Helpful credit management tips

• Advice on planning and living within a budget

Go check it out — you might find yourself a deal and learn something besides!

Dinna

A few weeks ago, I sent a graduation card to my cousin’s son. He graduated from high school with honors and will be going to UCSF   this fall. The family is very proud!

Seems like we’ve had quite a few parties to attend lately—graduations, weddings, bridal showers, and baby showers. Plus, more are on the way. While I'm very thankful to be included in all the celebrations, I can’t help but notice that things are starting to add up!

It's not just the cost of the gifts. When you add in the cost of flights, hotels, outfits to wear at the parties, etc., celebrating can get expensive. Even gas   is becoming a factor as I just paid $4.55/gallon to fill up my tank!

I’m trying to balance these kinds of expenses while still sticking to a budget, but admittedly, I'm struggling.

How do you budget   for celebration expenses? Or do you have any ideas to keep costs down? Share your ideas here.

Editor’s note: Speaking of celebrating, the Student LoanDown team is taking the next few days off to fete the 232nd birthday of our nation. A very happy Independence Day to everyone! We’ll be back the week of July 7.

Dinna

Living in California , we've been lucky to start out summer early with sunny weather and backyard barbecues .

With the 70-degree weather this past weekend, I managed to attend not one, not two, but three BBQs — one of which was a backyard pool party! It was so much fun, but also somewhat dangerous because small children love the water.

Both of my girls take swim lessons — mainly for safety so they learn how to float on their back. Those lessons came in handy on the weekend. Long story short, my two-year-old couldn't wait for daddy and left the safety of the pool step to try a few laps on her own!

Needless to say, she didn't get very far. After a few strokes she did the right thing and rolled on her back, but I scooped her out immediately. I was slightly freaked of course, but happy that she was able to float rather than sink!

As I came into work today, I thought about my daughter's incident, and how it's actually a pretty good analogy for managing credit. Let me explain…

Building and maintaining good credit has never been more important, or more challenging. It is important for everyone to learn how to "swim" by understanding how to manage the debt you take on, especially in these tougher economic times.

Just as my daughters take lessons to learn how to be safe while swimming, we all can take lessons to become smarter about credit . If you're looking for some ways to help you stay above water, here are some good tips on building and maintaining good credit.

What other resources have helped you stay afloat?

Dinna

Do you eat breakfast?

I normally don't...well, I guess I get my soy chai latte . But on the weekends, I love to eat breakfast...or should I say I love eating out for breakfast!

So last Sunday, I packed my family in the car. All of us were excited to have French toast, crab hollandaise , savory crepes, and Mickey Mouse-shaped pancakes at our favorite breakfast destination. When we arrived, however, we were devastated to see a "Thank you for your business" sign posted at the entrance. Our beloved Crepevine had closed down! We took our grumbling tummies back home and complained while we ate cold cereal and milk.

Unfortunately, I'm noticing a lot more businesses closing around town...not just restaurants but furniture stores, specialty boutiques, pet shops, tea bars, etc. I guess it's a sign of the times. It makes me think about what I should be doing to prepare myself for a financial "rainy day." Of course the obvious (but not so fun) thing to do is to cut back on expenses.

Comfort food  is my vice...but I guess I could make breakfast instead of going out. Maybe I could have that $3 latte a couple of times a week instead of everyday. And do I really need that glass of wine with dinner? Wait, let's not get carried away!

In these economic times, it doesn't hurt to be a little more disciplined. I mentioned in an earlier post that I was thinking of going back to Australia to visit. Well, that's an expense I've decided to do at a better time...maybe when the exchange rate for the dollar is more favorable.

How has the current economy affected your lifestyle?

Dinna

A couple of weeks ago, our good friend Staci shared a useful resource related to checking accounts and received a comment requesting something similar for credit cards.

Well, look no further!

The Student Guide to Good Credit, Smart Moves Today for College and Beyond has the basics for understanding and building a solid credit history. This short brochure explains why a high credit score is important, offers three easy ways to build good credit, and provides tips on how to avoid fees and finance charges. It also includes online resources and important phone numbers for reference.

FYI, the brochure automatically comes with every new College Credit Card but is helpful for anyone wanting to shore up on basic credit knowledge. Check out the file here on the blog or request it at your local Wells Fargo store!

Dinna

I was talking with a co-worker the other day who was telling me all about his vacation plans this year...how he had planned everything at the end of 2007 and had made all of his flight and hotel arrangements already.

It got me thinking: What do I want to do this year? And is there any place I could visit this spring?

Then it hit me: "Yes, there is!" As I was driving in to work, a commercial came on the radio. The voice had that familiar, friendly accent and hyped up places like Bondi Beach  and the Sydney Opera House . "Now is the perfect time to visit Australia!" the voice said, encouraging me to get info about Qantas flights .

I visited Australia  while in grad school. I really had no money, but a friend of mine worked for an airline and got me a "buddy pass" that allowed me to fly for a steal. Once there, I was also able to stay with my friend's relatives. Unfortunately, because we were flying standby, our trip was short, and I've always vowed to return.

Nowadays, I use frequent flyer miles  to go on vacation. But nothing is ever "free," and I still have to consider the cost of airport taxes & fees, hotel, meals, ground transportation, sightseeing, and of course, local shopping!

So, even though I really want to go, I have to ask myself: Can I afford to go? I could charge everything — I usually use my credit card anyway when I travel because it's safer than cash, adds additional insurance, the exchange rate is usually better, and I get rewards points for every purchase. But can I (or would I) pay it all back when I return?

What would you do? What are some of your vacation planning considerations?

Dinna

One thing I've done is make my holiday gift list. Man, it's long!! All I could think was, "How much am I going to spend this holiday? Can I afford to get something for everyone on my list?"

To that end, I grabbed my laptop, got comfy on my couch, opened up an Excel spreadsheet, and started making a holiday gift-giving budget . I listed potential gifts and expenses for my family, extended family, friends, neighbors, hostess gifts for parties, etc.

After going through the budget, I realized that I needed to develop a gift-giving strategy — something that allowed me to give meaningful gifts but also stay within my budget constraints. Maybe I could give gifts to kids only, make family gift baskets, suggest to extended family that we pull names from a hat, contribute to a charity  in a family's name, or even do a white elephant  gift exchange.

I haven't quite figured out what I'm going to do, but one thing is clear: Making a gift-giving budget helped me see where I needed to cut back/modify/expand my gift-giving so I don't spend blindly.

What are your gift-giving strategies?

Editor's note: The Student LoanDown team will be spending the rest of the week in tryptophan-induced comas . We wish you all a Happy Thanksgiving — gobble, gobble!

Dinna

The other day as I was dropping off my daughter at her kindergarten class, I ran into my friend Dave's family. I was surprised to see them all — mom, daughter, and son — riding their bikes to school!

As I watched them pedaling with a parking lot full of SUVs  in the background, I thought to myself, "They're definitely doing their part to save the environment!"

I guess I shouldn't be surprised, since Dave rides his bike to work everyday. But it did get me thinking about what I'm doing. I recycle my paper, glass and plastic at home religiously — even my 2- and 5-year old daughters know that bottles and cans go in the "circle" and that regular trash goes in the "square." But every little bit helps, and I always wonder what else I can do to make a difference.

Then, as I was browsing through the Rewards programs available through my Wells Fargo credit and debit cards, I came across a "Green" option...cool!

I was planning to go for an Amazon gift card, but now I think I'll redeem 5,000 points and get a Renewable Energy Certificate. The best thing? Each certificate supports 6,000 kilowatt hours of green power — that's like planting three acres of pine trees!

I know there's a lot more I can do, and I am always trying to learn as much as I can about how to be green. In the meantime, if I'm already going to use my debit card for necessary purchases, then at least I can feel good that I can do something for the environment. And as a Wells Fargo employee, it's nice to know my company is giving customers an eco-friendly choice.

What do you think about Green Rewards? Does having an environmental Rewards option matter to you?

Dinna

What was our big summer trip this year? We didn't go Costa Maya, Costa Brava , or Costa Rica — but it sure did "costa lotta!" Sorry, couldn't resist the pun.

Our family vacation was a road trip to "The Happiest Place on Earth": Disneyland ! With my five-year-old getting ready to start kindergarten, my two-year-old obsessed with princesses, and the newly-opened Finding Nemo  ride to check out, Disneyland was the perfect destination to please the whole family.

But jeez, it was hot, hot, hot! The new Nemo ride was very well done, but the wait in line was at least 1½ hours and we were just melting. On the other hand, since everyone was in line to find Nemo, other favorites like the Pirates of the Caribbean  and the Haunted Mansion  were only a 5-10 minute wait. Sweet! Plus, the rides were air-conditioned — ahhhhhhh...nice!

We all had a great time! If only going to Disneyland were FREE it would truly be the happiest place on earth for parents.   We thought the trip would be cheaper than going to Europe, but after reviewing my credit card statement online and seeing the cost of the hotel, park tickets, breakfast with characters, dinner at Ariel's Grotto, princess costumes, collectible pins, autograph books, and many other priceless souvenirs only found in the Magic Kingdom — well, maybe we should've just gone to Neuschwanstein  instead to see the real Cinderella Castle!

Next time we'll do a better job of budgeting ahead of time and practicing self-restraint with our spending. I'll have to stop myself and think: Do we really need another princess outfit? Will I have sleepless nights if I don't buy that limited-edition collectible pin, light-up Mouse ears, or $18 spray water bottle?

Have you ever spent more than you expected? Do you have any tips for how to control spending on your credit card?