WEEKLY Volume 23, Number 32 - August 13, 2010

Dean Sanders
Lawyer

2113 Kell Blvd

Wichita Falls, Texas 76308-1245
940-766-0266

?
HOW DO I
GET A
LOAN?
It’s as easy as 1, 2, 3!
1 Bring in your merchandise in good working order.
2 Show proper state issued ID.
3 Get the cash you need.
If you need more time,just pay
the interest to renew the loan. CA$H LOANS
We accept jewelry, tools, guns,
car stereos, musical instruments
in minutes!
and much more!

CASH N MORE Pawn & Jewelry

767-5626
Call for FREE
126904

LOAN QUOTE!
3910 Jacksboro Hwy. MON-FRI 8:30-6 • SAT 9-5
www.cashnmorepawn.com
CHECKS LAYAWAY

Page 2
In This Issue

Page 3
Page 4
Tips To Talk Money With Your Children

Kids these days. They’re constantly bombarded health insurance could stop if their parents become
with information from all directions on every topic unemployed.
imaginable - except how to manage money.
Who is responsible for teaching kids financial ba-
In fact, the financial literacy of high school students sics?
has fallen to its lowest level ever, according to a
survey of high school seniors and college students Parents say they want to be the source of that infor-
released last year by the Jump$tart Coalition. mation, yet they admit they aren’t following through.
Fewer than 50 percent of parents believe they are
The survey reveals that just 17 percent of high competent teachers of financial issues according to
school seniors understand basic differences be- the Money Lessons Survey posted on about.com.
tween stocks, savings bonds and savings accounts.
Only about 40 percent of them realize that their own “So many parents tell us they don’t know where to
start,” says Laura Dierke, fi-
nancial education program
Attend college and high school without
My school manager with Thrivent Fi-
leaving MSU’s campus area! offers both nancial for Lutherans, a faith-
high school & based financial services or-
Come to Bright Ideas University Center, college... ganization. “We empower
a public junior high and high school that parents to have conversa-
prepares young minds for college. All Before I tions about money with their
Call us today at 940-767-1561. grADuAte! children through financial
education workshops in com-
Announcing the addition of munities across the country.”
My school Dance Classes & Texoma Judo!
focuses on While attending a financial
learning, education workshop may be
character, Come to Bright Ideas Charter an option, don’t hesitate to
college... School, a public school that’s been
start the conversation today.
Shaping Young Minds for 25 years.
Here are a few to tips to get
AND fuN! Call us today at 940-767-1561.
started.
Page 5
Page 6

Tips to talk about money
The key with kids is to find some lessons that work
and then repeat them until they sink in. Money skills
are learned over time, and some of the best les-
sons are taught by what you do, rather than what
you say.
1. Remember cash? With credit cards dominat-
ing our wallets, kids simply are not “in touch” with
money. Help your kids see what money is by show-
ing them coins and dollars and talking about their
worth. Help them understand what money does by
using cash for your purchases whenever possible.
“We can’t expect kids to understand the value of
a dollar when they rarely see visible evidence of
money leaving your pockets,” Dierke adds.
2. Demonstrate the idea of “interest earned” by
adding a small amount to what your kids save. Or
offer to match the amount they save to help double
their effort. Better yet, open a savings account for
Page 7
your child, either online or in person at a bank, and
make the effort to talk about the value of saving
over time.
3. Try this when shopping with your older kids.
When they want to buy something now, ask them to
“stop, think and choose.” Stop to consider whether
they want or need it, think how the money could be
used more resourcefully and choose if the item is
more important than other wants and needs.
4. With online bill pay and electronic bank state-
ments, you have to be intentional about showing
your kids the regular income and outflow of your
family budget. Make a point of sitting at the com-
puter with them to demonstrate these tasks.
These four tips are just a few ways parents get
the lessons started at home with younger children.
Make the conversations and real-life examples
about money skills and responsibilities part of your
life every day to help prepare your children for a
bright future.
Page 8
The ‘Keys’ To Homeownership
“It’s a buyer’s market”
is a popular head-
line right now. It’s one
that’s hard to ignore,
especially if you’re a
young adult or even a
long-time renter who
has been waiting for
the right time to pursue
the American dream
of owning your own
home.

Buying your first home

can be scary, but as
with anything else in
life, the right prepara-
tion should bring you
good results - a home
you want and one you
can afford.

Whether you are ready to buy a home in the next
few months or next few years, preparation is criti-
cal.
Thrivent Financial Bank offers the following five
“keys” to open the door to homeownership.
Obtain a credit report. Review your credit report
prior to starting the home buying process. This will
enable you to dispute any incorrect entries and sat-
isfy any derogatory items on your report. You are
entitled to one free copy of your credit report every
12 months. Ensuring your credit report is accurate
is critical as it is an important element lenders re-
view to determine your credit worthiness for a loan
approval.

Establish a budget. Knowing where you spend your

money and how much you are able to set aside
each month can, first, help you decide if purchas-
ing a house is a viable choice now or of it is some-
thing that will have to wait until later. Establishing
a monthly budget also helps determine how much
house you can afford, which will help you zero in on
possible homes to look at. If buying the home you
want is not in the cards now, use the opportunity
to take a closer look at your spending and savings
habits and develop a plan to begin setting money
aside for a down payment and monthly mortgage
payments.

Secure a down payment. Although there are loan

programs that will allow you to purchase a home
with no money down, making a down payment is al-
Page 9
Page 10
most always a good idea. The most common sourc-
es of a down payment are your savings or a gift of * Adjustable rate mortgage (ARM) - The interest
cash. The amount you put down has a direct im- rate is fixed for a certain period of time, but once
pact on what your monthly mortgage payment will that period expires your interest rate will adjust ac-
be and will also determine if you will be required to cording to the terms of the mortgage.
purchase PMI, or private mortgage insurance.
* Negative amortization (pay option) loan - The min-
Understand mortgage options. There are many imum payment is less than the interest that accrued
types of loans available to suit your needs. The fol- on the loan. In this loan, your principal balance will
lowing is a list of some of the more common types increase when you pay less than the interest that
of loans. accrued.

* Fixed rate loan - The interest rate is fixed for the * Balloon - The interest rate is fixed for a period of
life of the loan. The life of a fixed rate loan may time. At the end of that period, your entire balance
range from 10 to 30 years. on your loan is due. (Example. With a five-year bal-

When life throws you a curve TXU Energy is proud to partner with

we can go to bat for you.

Just when you have the budget worked out so you can
barely squeak by every month, something unexpected
hits you. We know about those times.
That’s why we have a program called TXU Energy Aid. Nobody should have to suffer
SM

without power for fear of an electricity bill they can’t afford. We’re proud to provide
temporary bill payment assistance to thousands of customers in critical situations
each year, right in your community. Since 1983, TXU Energy Aid has provided more
SM

than $61 million in bill payment assistance, helping 365,000 families in need.
Learn more at txu.com.

©2010 TXU Energy Retail Company LLC. All rights reserved. REP #10004
New Hope Church
Please Join Us For Sunday Services

300 Wichita Street, Wichita Falls, Texas 76307

Page 12
loon, your loan is fixed for five years and at the end
of five years your remaining balance on your mort-
gage is due.)
* Interest only - The minimum payment is just the
interest that accrues on the loan.
Also, get an estimated, hypothetical look at your
monthly payments for the various types of mort-
gages by using the Thrivent Financial Bank mort-
gage calculators. However, these are not meant to
replace professional financial advice.
Get pre-approved. Now that you have done your
homework and are ready to purchase a home, you
should meet with a personal banker to get pre-ap-
proved. A pre-approval allows the lender to review
your situation and make recommendations prior to
Page 13
entering any formal purchase contract. The pre-
approval will establish for you a limit on the dollar
amount the lender will commit to your home pur-
chase.
To begin this process, your loan officer will com-
plete an application with you and will also check
your credit report. After some analysis, your loan
officer will inform you of the various programs and
the amount you qualify for. They will also give you
a pre-approval letter that you can give to your real-
tor so they know the price range of homes they can
show you.
To be pre-approved, you’ll need to submit the fol-
lowing to a potential lender:
* Tax returns and W-2s for the past two years.
* Pay stubs to prove you’re currently employed.
* Documentation of other types of
income, including investments or a
second job.
* Recent bank statements.
These preparations are just the be-
ginning of your journey to home-
ownership. You’ll also want to do
your homework for the next stages
such as selecting a realtor, house
hunting, putting in an offer and get-
ting an inspection.
Buying a home is one of the biggest
decisions that you will ever make. In
your pursuit of the American dream,
make sure you follow the keys to
success and enjoy this exciting
journey.
Bank products and trust services
are offered through Thrivent Finan-
cial Bank, (Member FDIC, Equal
Housing Lender), a wholly owned
subsidiary of Thrivent Financial for
Lutherans. Insurance, securities,
investment advisory services, and
trust and investment management
accounts are not deposits, are not
guaranteed by Thrivent Financial
Bank, are not insured by the FDIC
or any other federal government
agency and may go down in value.
Page 14
Accountants Are Needed To Keep Businesses Afloat
As the economy continues to recover, an increased
emphasis will fall on the accountability, transparen-
cy and responsible financial management of busi-
nesses large and small - putting accountants and
auditors more in demand than ever before. The em-
ployment of accountants and auditors is expected
to grow at least 22 percent by 2018 - a rate faster
than the average for all other occupations, accord-
ing to the Bureau of Labor Statistics.
Why small businesses need good accountants
The impact of a savvy accountant is even more pro-
nounced in small businesses and entrepreneurial
ventures. Small businesses will be instrumental to
the nation’s economic recovery, creating 80 per-
cent of all new jobs and driving innovation in virtu-
ally every field, the Small Business Congressional
Committee predicts.
With this in mind, it’s essential that these business-
es understand and practice important accounting
functions in order to stay afloat. Unfortunately, 82
percent of small businesses fail because they can’t
manage their money, reveals a study published by
Jessie Hagen of U.S. Bank.
“Whether it’s evaluating credit access, reviewing
terms of a vendor agreement, learning how to keep
Page 15
a business profitable or even how to choose the
right accountant, all small business owners should
pursue a strong understanding of accounting’s role
in managing costs and maintaining success,” says
Rieva Lesonsky, former editorial director for En-
trepreneur magazine and current CEO of GrowBiz
Media. “A good accountant can help to avoid finan-
cial pitfalls and put checks and balances in place
by developing a comprehensive accounting plan of
action.”
Entrepreneurial opportunities in accounting
The Small Business Association noted in a recent
briefing that entrepreneurship is crucial to the na-
tion’s economic revival and competitiveness in a
global marketplace. Furthermore, an environment
ripe for those with dreams of owning their own busi-
ness, combined with the need for such new busi-
nesses to have a deep understanding of financial
practices, opens many doors for the entrepreneur-
ially minded accountant.
Rita Talamonti, a personal financial advocate who
recently launched her company, Good Egg LLC,
knows firsthand of the entrepreneurial accounting
careers. The recent graduate from DeVry Univer-
sity’s Keller Graduate School of Management re-
turned to school to earn her master’s degree in ac-
counting and financial management
after experiencing a flood of re-
quests by other business owners for
her accounting expertise, which she
had gained while running a family-
owned medical practice business.
“Going back to get my accounting
degree has provided me with an
awareness of what is standard in
the industry and what is required to
service my clients at the next level
by keeping abreast of new regula-
tory changes in the accounting field
through continued certification and
professional associations” says Ta-
lamonti. “Combined with my prior
experience, this new knowledge al-
lowed me to understand cash flow,
taxes and financial statements - how
Page 16
to fund and start my business, determine how my
revenue was going to be generated, and how to in-
vest it after paying taxes on profit.” Talamonti soon
recognized this type of knowledge was in high-de-
mand by a growing number of newly launched fam-
ily businesses.
Accounting for business and career results
“The key to a sustainable business is making sure
that all involved parties are aware of intimate finan-
cial details,” says Joyce Barden, senior professor
of accounting at DeVry University, who speaks from
her own experience as both a Fortune-level finan-
cial manager and a public accountant serving pri-
marily small businesses. “It’s important for all em-
ployees to have a solid, foundational grasp on the
skills necessary to provide this vital information.”
Barden also sees a growing number of profession-
als from varying industries, and comprising a wide
range of ages, take advantage of existing account-
ing degree programs. “Accounting is an industry
with an accessible entry point, which means that
people can use it to redefine their career focus at
any time,” she says.
Page 17
DeVry University, along with its Keller Graduate
School of Management, is helping to meet the in-
creased demand for accounting skills by providing
an integrated, fast-track path for students to earn
the undergraduate and graduate credentials they
need to become respected and sought-after ac-
counting professionals.
Whether starting as a high school graduate, trans-
ferring from a community college or changing ca-
reer focus, students interested in an accounting
career can begin at DeVry University - www.devry.
edu - where they can earn their bachelor’s degree
in business administration with a concentration in
accounting. For those who wish to obtain a more
advanced degree, Keller offers master’s degree
programs in business administration (MBA) and ac-
counting and financial management (MAFM). No
matter the career path to which they are applied,
accounting skills will continue to be essential to cre-
ating and sustaining successful businesses in the
21st century.
Courtesy of ARAcontent
Page 18
Page 19
Page 20
Page 21
 HURRY - OFFER ENDS SOON!
401 N. Scott Avenue
Wichita Falls TX 76306
Phone: 940.322.4121
Fax: 940.716.9333

*Finance offer subject to credit approval, applies to purchases of new Yamaha Motorcycles, ATVs & Scooters made on a Yamaha Installment Financing loan account from 7/1/10-9/30/10. Minimum
contract length is 24 months and maximum length is 36 months. Minimum amount financed is $5,000. Fixed APR of 3.99%, 5.99%, 8.99%, or 14.99% will be assigned based on credit approval
criteria. Monthly payments per $1,000 financed based on 36 month term are $29.52 at 3.99%, $30.42 at 5.99%, $31.80 at 8.99%, and $34.66 at 14.99%. **Customer Cash offer good on select
2010 (and prior year) models between 6/1/10-9/30/10. Offer good only in the U.S., excluding the state of Hawaii. Professional riders with advanced skills on closed course. Some models
shown with optional accessories. Dress properly for your ride with a helmet, eye protection, gloves and boots. Do not drink and ride. It is illegal and dangerous. Yamaha and the Motorcycle
Safety Foundation encourage you to ride safely and respect the environment. For further information regarding the MSF course, please call 1-800-446-9227. ATVs with engine sizes over 90cc
are recommended for use only by riders age 16 years and older. Yamaha recommends that all ATV riders take an approved training course. For safety and training information, see your dealer
or call the ATV Safety Institute at 1-800-887-2887. ATVs can be hazardous to operate. For your safety: Always avoid paved surfaces. Never ride on public roads. Always wear a helmet, eye
protection and protective clothing; never carry passengers; never engage in stunt riding; riding and alcohol/drugs don’t mix; avoid excessive speed; and be particularly careful on difficult terrain.
©2010 Yamaha Motor Corp. U.S.A. All rights reserved. yamaha-motor.com