It’s that special time of the year again.  The sweet song of summer begins to wind to a close and Labor Day becomes the last beacon of safety from the enclosing perils.  JCPenney kicks it into high gear and Mom and Dad begin to show glimmers of hope as they look forward to the beginning of a new season.

Back to school, back to school
To prove to Dad that I’m not a fool
I’ve got my lunch packed up
My boots tied tight
I hope I do not get in a fight

Yes, it is the magical school year start.  And for those who are college bound, the magic can make you happier than a member of the Mickey Mouse Club or gloomier than rain on your birthday after your dog died in a flood.  But fear not class of 2013, your freshman year will be what you make of it.  Like your financial future, it is you who holds to the key to your academic success.  Hand in hand, good grades and good pay trot along like The Fox and the Hound - that is unless you decide to major in something completely obsolete such as Gutenburg Press construction. 

While tuition and book costs may be sky high, keep your spirits just as elevated (and well above the U.S. dollar exchange rate).  Many statistics exist stating that college graduates will out-earn their high school diploma counterparts; but a college degree can be more than a financial investment.  While the degree may bring a higher paying job, it’s the task of learning responsibility during the college prime that carries over most to financial success.

Time management and organization are not just attributes great for a high QPA; these things also contribute to financial stability.  Keeping track of your income and bills, and when your bills need to be paid, can be a daunting task.  Throw in trying to manage some cash for retirement and you’ve got a full plate.  College is more than just preparing yourself with a degree; it’s about picking up skills that can be used for life (corny, but true). 

During my freshman year I was told it takes two weeks of doing something to make it a habit.  While making something routine may actually take 13 or 15 days, depending on your learning curve, good habits created in college will have real results in the workplace and elsewhere.  So as the August heat begins to temper, know that the next season is much more than just another autumn.   

While healthy food choices can be more expensive than your local fast food joint, a wholesome meal can be found at a discount if you know what you’re doing.  While browsing the net, I found an unlikely source of healthful goodness for both banking and bellies. 

A post on the Cheap Healthy Good blog really gave me some great insight on diet and finances; although, I had never expected to receive advice on these things from the one and only, Homer Simpson.  The article, “Cutting Calories and Saving D’oh: 25 Lessons “The Simpsons” Taught Me About Cheap, Healthy Eating,” gives great guidance and it doesn’t tell you that spending a little money is a horrific crime.
 
While you may not have to put a lot of coin in the pockets of Ronald or The King in order to stuff your gut, being cheap in the wrong way can hurt you in the long run.
 
Marge: Lisa, I made you some homemade Pepsi for the dance; it’s a little thick, but the price is right.

While dipping your fries in your favorite beverage may bring smiles to your face, it may also add inches to your waist.  A day in and day out diet of low cost, low nutrient food will likely ketchup to you.  For anyone who has seen Morgan Spurlock’s Fast Food Nation, opting for a salad or some homestyle cooking could help keep your healthcare costs in check.   
 
But the convenience of fast food is so enticing! 

Apu: Poor Homer!  Could it be that my snack treats are responsible for his wretched health?
Customer:  Give me some jerky.
Apu:  Would you like some vodka with that?

Eating at home as often as possible and packing a lunch for work can really save some dollars.  Keep in mind fast food joints are about fast food; the goal of their existence is not to serve you the meal equivalent of a Centrum Silver.  So while it might cost a little more for healthy food when you’re out and about, preparing food at the homestead will likely prove healthier and more inexpensive.

Now I realize the college cooking skill repertoire is not usually cordon bleu caliber, but that does not mean culinary success is impossible.  Hot dog casserole and Twinkie surprise, while cheap and easy to make, are not quite what I’m talking about.  The internet, despite its vast sea of information, doesn’t have as many easy recipes for college students as one would hope.  However, all is not lost, for a few dollars (believe me, you’ll make this money back by serving yourself rather than visiting Denny’s at 3am) you can get an excellent college-geared cookbook.  You just have to know where to look.

The mystery of Sasquatch/Bigfoot/Yeti/Abominable Snowman, and more recently, The Ohio Grassman, remains unsolved even after numerous Discovery Channel and History Channel MonsterQuest attempts.  Like the proof of a giant apish humanoid, people have found the 850 FICO score to be quite elusive.  Making the 850 score even harder to achieve is the fact that a credit score changes over time.  Three weeks ago your score may have hit 850 (not if pushing around a 600 though), and you would never know it unless you happened to have applied for a loan at that point in time.

Experian’s Maxine Sweet, vice-president of public education, stated that she has never even seen an 850 score.  It seems the 850 is the white whale of the modern personal finance ocean.  But does this mean that an 850 FICO score can’t be had?

Not according to the The Motley Fool.  Fool.com says that around 1 in 100 people have a perfect score, a 10 out of 10 on the credit balance beam.  Fool goes a step further; not only does it tell you how many people possess perfection, but Fool goes on to explain how they make it to the top.  Like becoming reigning champion at anything, a lot of time is involved in trying to reach the credit score pinnacle.  Fool lists the following as being the top 8 traits of 850 score holders:

• Debt to credit ration under 35 percent
• No major fouls (bankruptcies, collections, etc.)
• No minor penalties in the past 7 years (late payments, missed payments)
• Few recent applications for credit
• One major loan with no infractions (mortgage, car loan)
• 4 to 6 credit cards (don’t try this one without adult supervision, unless you are really an adult; I don’t mean eligible to be drafted either)
• Multiple accounts over 20 years old
• 30 years of credit use

People have not yet given up the hunt for Bigfoot, or as I have recently heard him called, the Skunk Ape.  Don’t give up on that 850 either.  It’s okay if you never achieve it.  You’re highly unlikely to receive any better loan terms if you have an 850 instead of an 800.  While admirable, an 850 is probably more akin to being able to lick your elbow than capturing Sasquatch - not many people can do it, but unlikely to make you a crowd pleaser when you show off. 

Needs vs. wants - we’ve all heard this a million times when listening to financial advice.  Do you need surround sound or do you want surround sound?  I don’t know about you, but some movies are just way better with some high-def audio encircling the room.  Even so, unless you’re in the theater business, sound that puts you right onto the beaches of Normandy or into Gotham City probably isn’t do or die.  As far as do or die is considered, food, water (not the bottled kind unless you’re traveling third world), shelter, and clothing are first priority when it comes to spending.  Once you have the minimums covered (Prada is not a basic necessity), then the financial conflicts begin.

I say conflict on purpose because it really can be a struggle deciding what expenses get cut from the roster.  Both a new watch and a new tie would be nice for an upcoming event, but in the world of economists, resources are scarce.  Unfortunately, we also live in the world of these doctorate-holding eco-people (and they are pro-green of another kind).  LSAT prep course or Spring Break vacation?  Oh wait, that means you have to decide among LSAT prep, Spring Break, a new watch, or a quality tie for an interview?  Bejeezus, prioritizing is no simple equation.  

We have loads of decisions to make when deciding where our limited money reserve will be spent, way more than just four choices.    So how do you sort through this mess?  First, it’s best to focus on your three major priorities (or one big one, like your tuition).  CNN Money offers a tool for sifting through the mush and organizing you spending choices.  After you type in your spending objectives, you are asked a series of questions that will eventually lead to an ordered list of your priorities.  

Even if you don’t strictly stick to the list, it’s better than nothing.  Many people meander through their day without considering what comes first when doling out cash.  The consequences can be harsh: Oh man, looks like I can’t afford the rent this month because I bought 5 Xbox 360 games last week.  Don’t laugh, this can really happen.  Actually, you can chuckle under your breath because a little bit of planning would have saved the day (or the month in this case).

According to MSN, U.S. consumers are on the hook for $1.9 in debt.  My bad, I forgot some zeroes; that’s $1,977,3000,000,000 in debt.  This figure is of October 2003 and didn’t even include mortgage debt.  Ouch. 

So instead of just doing your share for the ecologists, do your share for the economists.  Both ecos could use a little help.