First Time Home Owners - Don't Miss the Deadline

Are you lucky enough to be a first time home buyer right now? What a great time to be in that position. First time homebuyers can get an $8,000 tax credit when they purchase a home this year. I wish that my husband and I could take advantage of the great benefits that are being offered to first time home buyers right now. (P.S. this also includes anyone who has not owned a home in the past 3 years!)

The big mistake right now would be sitting back and thinking that you have all the time in the world. Don’t forget that there is a deadline to be eligible for the tax credit and there is no guarantee that, that deadline will be extended! This deadline requires that you close on your new home by November 30, 2009, click here for details.

Check our rates and sign up for a Mortgage Rate Alert email. Finance today quickly and easily with our fast 10-minute online loan application.

TIP: Stay close to home for entertainment

SAVINGS TIP: Chances are, you've got opportunities for great entertainment every weekend close to home. At your local theater you'll find free parking and no drive to Chicago. The talent is great and tickets run just $15-25. I saw a production of Studs Terkel's "Working" this weekend at the Steel Beam Theatre in Saint Charles. The performers were very talented and the tickets were only $25. Check out the Steel Beam Theater. This intimate 80-seat theater attracts very talented performers. They have a wonderful Children's theater program where they perform children's stories, currently the Adventures of Pinocchio is running. Children's theater is a great way to introduce kids to live theater. Live theater is a different, richer experience than seeing a movie!

New Credit Scoring System Could Give us a Break!

Finally, something that may actually help us! Have you ever made a little financial blunder that you did not think were very important, but your credit score was negatively impacted by that little mistake? I know that I have.

A long time ago, before cell phones, we used to use phone cards. I had one just in case of emergency. Well, my girl friend's parents did not like her boyfriend and she used to use my calling card to call him. There was a small balance left on the card and it impacted my credit score for years. Not sure why I didn't just pay it off. Young and stupid I guess!

Now those little mistakes may be forgiven. With the new math of FICO 08 credit scoring, those with small blemishes on their credit reports should benefit. With the updated scoring method, the credit scores of those with small miss payments, under $100, will not decline. For more information, click here.

Support Our Troops with Care Package Items!

We're playing Santa again this year to U.S. soldiers fighting in Iraq and Afghanistan during the holidays with our drive to collect care packages for Operation Support Our Troops of Illinois.

Starting today, September 11, we're collecting items to stuff into Christmas stocking care packages that will be sent to U.S. troops deployed in the Middle East. These care packages include a litany of items not readily available to troops in their deployed locations, such as hand sanitizer and shaving cream, as well as personal letters, cards and notes of support. For a list of items most requested by U.S. troops stationed overseas, visit http://www.osotil.org/christmasstockings.html.

You can bring your donations to our Naperville branch at 1519 N. Naper Boulevard or our Bolingbrook branch at 267 S. Weber Road before October 31. Since its inception in 2003, Operation Support Our Troops Illinois has sent more than 25,000 care packages to U.S. troops in Iraq and Afghanistan.

Last year, our employees and members collected 160 pounds of snacks and gifts, and $140 in cash, which was used to ship the packages to the troops. A Naperville Brownie Troop also wrote letters of encouragement to the troops. Our men and women in the military are working so hard for our country that we want to send items to brighten their day a bit!

TIP: Get better than interest on your checking account

I love my check card! I got $2.65 for using my Hawthorne Visa Check Card in August. All I had to do is sign for my purchases (I just chose "credit" at the retailers when asked the question "credit or debit?") I use my Check Card for everything - coffee, clothes, gas, groceries, eating out, prescriptions, toiletries, online shopping, etc.

As a result, that $2.65 equates to about 6.24% APY on an average monthly balance of about $500. That's better than what any financial institution is paying in interest right now! It's easy money. Really!

Saving Money at Your Kid's Next Birthday Party

I can’t believe that my son Zach is going to be 9 on Friday. He is growing up so fast and is getting very tall. I think that within the next couple of years he will be taller than me.

Last weekend we had Zach’s birthday party and I got lucky this year and saved $150 because I was not able to order and inflatable jumpy for the kids. I called six different inflatable rental companies and they were all sold out. Zach has always had a jumpy at his birthday parties, so I was concerned about what they would do this year.

I thought of waters balloons, but it was cold. I also thought of all of those things that we used to do at my birthday parties (a long time ago), kick the can, musical chairs & pin the tail on the donkey, but I did not think that Zach would be very excited about that. So, I end up doing nothing!

We had a lot of people, a lot of food and a very nice day to enjoy each others' company. The adults had a great time and the kids had a great time too, even without a jumpy (I did not hear one complaint!)

I will probably never rent an inflatable again. This made me start to think that sometimes the things we do to make our kids happy are expensive and unnecessary. Most of the time they are completely happy without all of the extras!

More Ways to Save Money on Groceries

Are you still trying to get the “coupon thing” down during this difficult financial time, when every penny counts? Or, are you still trying to decide if you have the energy or want to spend your time looking for a bargain or cutting coupons?

I recently read a blog By Laura T. Coffey who is a TODAYShow.com contributor, that said “There’s almost always a coupon out there.” During these difficult times it probably does make sense for us to take advantage of them.

Laura’s blog also consisted of 10 tips to be a better coupon sleuth, that might help you. My favorite tip is number 2. Please let us know if these tips help you. Good luck!

1. Remember those nice, old-fashioned coupons in your local paper. Granted, you’re reading this column online, which may mean you’re not a huge print newspaper reader at this stage of your life. But in spite of all the newfangled ways to access coupons and discount codes via the Internet, that doesn’t mean it’s a waste of time to check the coupons in your daily paper. It doesn’t take terribly long to find coupons you can use.

2. Use child labor if you just don’t feel like clipping. Here’s a deal you can cut with your kid: If he or she finds coupons for items you buy as a family and clips enough of them that you manage to save $10 on groceries, you can promise to share $5 of that savings with your child. Then your child can save up that coupon money and use it for something special — including back-to-school items that you may not view as essential but that he or she truly wants.

3. Remain alert for discount opportunities as you shop online. When making purchases, stay on the lookout for areas where you can enter a “promotional code,” “discount code” or “coupon.” If you spot such an option, that means a coupon code almost certainly exists that can help you save on the purchase you’re about to make.

4. Check reputable coupon-code sites. To find a coupon code, you can simply do a quick Internet search for the name of the retailer and the same catchphrase you saw on that retailer’s site. That can lead to frustration in many cases, though, because you’re likely to stumble upon codes that have expired. To hone your search, try CurrentCodes.com and DealHunting.com, where codes are regularly verified and updated.
Other sites that are worth checking include FatWallet.com, CouponChief.com, CouponMountain.com, Rather-Be-Shopping.com, RetailMeNot.com, Offers.com, CouponShack.com and Valpak.com. You’ll likely zero in on a favorite site or two or three that work best for you, depending on your shopping preferences.

5. Seek out free shipping. The best coupons in the world may not be able to offset onerous shipping charges. The sites mentioned in Tip No. 4 can direct you to free shipping deals in some cases. It never hurts to take a few minutes to search around for free shipping before confirming an online purchase.

6. Register with your favorite retailers — but check the privacy policy first. Another way to nab coupons that you’ll be likely to use is to become a returning customer on specific retailers’ Web sites. This typically involves sharing your personal information, and then some pretty good coupons and shipping deals will be e-mailed directly to you. Before signing up, though, check each retailer’s privacy policy first so you can see how your information will be used. Will it be sold to third parties? Will your spending habits be tracked and shared with third parties? If so, can you opt out of this process?

7. Don’t forget to check clearance and sale sections. Visit the Web sites of your favorite retailers and look for online-only sales. Click on any link that says “sale,” “new markdowns” or “final clearance.” It’s not uncommon to spot items that used to cost $100 or more lurking in final clearance sections for $19.99 or even $9.99.

8. Study that final check-out screen carefully. Especially if you’re using a coupon code, be sure the discount has been applied correctly before you commit to your purchase.

9. Look for coupon codes in unexpected places. All sorts of coupon codes may be arriving in your snail-mailbox on a regular basis. You can find them in the catalogs you receive, as well as in your credit card statements.

10. Seek out coupons for out-of-the-ordinary purchases. A number of coupon-code sites are offering discounts on tax services and software, car rentals, auction purchases on eBay.com, restaurant meals and other purchases that at first blush may not seem eligible for coupon codes. Open your mind to the possibilities and look for discounts on everything!

TIP: Save on video rentals at your library

TIP: Check out videos at your library, save $8-10 each week...or $416-520 per year! If you're a movie fan, you must check out your library. I love the library. This weekend I checked out four movies that I can keep until Sept. 5 - that's seven days. And it cost me nothing!

It would've cost me about $8-10 at Blockbuster. But I didn't spend one dollar, not even a penny. Sure, they don't have the new releases, but there are plenty of movies I haven't seen but have been on my list to see, including, "Along Came Polly" with Jennifer Anniston, "Little Miss Sunshine" with Steve Carrell, and "Tea with Mussolini" with Cher. I also checked out an educational DVD and a bunch of books. While I was there I put holds on 5 books I'd like to read. The library sends me an email when they come in and holds them for me.


Besides not costing anything, I love that if I don't like these movies or the books don't interest me, I just give them back. No risk. No money spent.


A couple days before my items are due, I get an email reminder (I love Email Notices, like the ones we offer!) I can renew items several times without even going to the library - they have online renewal. It doesn't get better than that!



And the Naperville Public Library is giving us another reason to love the library. The month of September is "Show Us Your Library Card" month. At retailers around the town, if you show your library card you get special deals. At Hawthorne, we're giving library cardholders free coin counting. So bring your coin jar this month and Show Us Your Library Card!

TIP: Got students? Teach them how to use credit wisely

In times of economic downturn, college students are turning to credit cards more than ever before. Although a new law prohibits issuing credit cards to those under 21 without a co-signer or proof of a steady income, much of the damage has already been done. Consider this, according to Sallie Mae's 2009 National Study of Usage Rates and Trends:

* Undergraduates are carrying record-high balances—an average of $3,173. Seniors graduate with an average balance of $4,100;
* Eighty-four percent had at least one credit card, and half the students have four or more;
* Less than one out of five students pay off balances each month;
* Ninety-two percent of students charge textbooks, school supplies, or other education expenses; and
* Food (84%), clothing (70%), and cosmetics (69%) are also frequently bought on credit.

Despite high credit card usage, more than one-third of respondents have never or only rarely discussed credit card use with their parents. These same students were also more likely to charge tuition or be surprised at a high balance.

Parents: You can help. A large majority of those surveyed expressed interest in more financial literacy education. You can provide guidance throughout middle and high school to help better prepare your student to manage money in college.Talk with them about money, and start with the basics. Focus on the importance of saving and responsible spending. Encourage them to use direct deposit for their pay checks—a savings account at Hawthorne can help them get started. If your student does use a credit card, stress the dangers of piling on too much debt. Put the real price tag into perspective--calculate with them how much interest piles on to that new pair of jeans if they do not pay their balances off each month. Also, remind them to keep their credit scores clean by carrying a low balance relative to their available balance, paying all bills on time, and regularly checking accounts for unusual activity. Responsible money management is important at all life stages.

Hawthorne can help. We have several online tools to give college students the basics of financial management and topics that you can use to start the conversation. If you have a middle school or high school student, it's never too early to start. We have a BalanceTrack for teens, too.

Back To School Doesn't Have To Break the Bank

It’s that time of year again, back to school time. Not only do you have to frantically relearn the morning routine with your kids (wake up, shower, eat, pack, run, bus stop, school—new record of 33 minutes and 27 seconds, well done, Mom!), but you also have to battle crowds to find a long list of expensive and often obscure school supplies…like three-sided pencils for example.

Finding the right school supplies can be challenging by itself, but you also need to be able to purchase these items without breaking the bank. Let’s face it, most kids just toss their school supplies at the end of the school year anyway. So that gives you two options: 1) you brave the crowds on tax-free weekend, and elbow your way through a school supply section that looks like it’s been torn apart by a tornado, or 2) you pay out the nose for new school supplies. Neither option sounds very appealing, but are there any other alternatives? Well, yes, in fact there are.

Most stores will offer massive discounts on their school supplies a few weeks after school starts, and that’s the time to buy. So instead of buying all new supplies for your child before school starts, find out what can be reused for a couple of weeks—perhaps an old note book, last year’s markers and colored pencils, or maybe an old protractor. Then keep an eye out for sales. Some start in the middle of the week, and others begin on the weekends, but by bargain hunting you can find some great deals on school supplies. You can also buy in bulk, and split it with other parents, or save it for future school years. Another option is to shop where you wouldn’t normally expect to find school supplies.

For example, you might find a good deal on back packs at Eddie Bauer, or a two for one deal at Toys R Us. Keep in mind that your kids will probably pressure you for the coolest looking folder or backpack, but that you’ll find much better prices if you go with generic rather than Transformers. Back to school shopping doesn’t have to be a complete disaster for your bank account.

Just remember to keep things in perspective. While your daughter may be upset today because she didn’t get the Hanna Montana pencil case, in the press of the back-to-school frenzy, she won’t be upset for long. Teaching her to shop smart will benefit her more in the long run anyway. Best of luck setting new morning routine records, and in your bargain hunting!

TIP: Turn off your PC, save $90 per year

In one year, if you shut your computer off before bed each night, you’ll save an average of $90 worth of electricity, according to the Department of Energy and The Daily Green. Go one step further and turn off all the ancillary stuff too, like your printer, monitor, scanner, modem and fax machine, which use electricity even when you're not using them. But rather than having to power down all the gadgets attached to your PC, invest in a Smart Strip Power Strip. This power strip is smart enough to know when you power down the main appliance, it automatically turns off other items that you use with it. It works great with computer set ups and for entertainment centers. You can arrange to have the DVD player, stereo, etc turn off when your television set is turned off. I installed these earlier this year. It's hard to tell how much it's saving me, but it must be saving something because all those appliances were always running before and now they're not!

TIP: Find coupons online

Money Saving Tip: You can find coupons for sale online for the items you buy every day at MyCouponHunter.com and even on eBay! It saves me time and money.

It really came in handy a few weeks ago when my son Zach and his friend Grace decided to pretend that they were getting ready to go shopping, and cut coupons. I was very impressed and glad to see that maybe Zach would pick up some of my money savings habits. Unfortunately, they made a mess and some of the coupons that I had already cut ended up being thrown away, never to be seen again.

Not really a big deal considering that several of the coupons that I cut don’t end up getting used anyway. The problem was that they lost my best coupon, $4 off of the Intuition Razor blade refills. Ladies if you have not tried the Intuition Razor you are missing out. It is the best thing since sliced bread. Since the blade refills are about $8, the $4 coupon gave me half off.

So, even though I can swing the $8 cost of the razor refills it was killing me that I was not going to be able to get 50% off. I ended up finding the $4 coupon on Ebay, but it was going to cost me $2 to get it. Not the perfect solution, but at least I would still be getting 25% off and shipping was free.

A couple of days ago, I received the coupon in the mail, but instead of getting the one $4 coupon that I ordered, I got 5 of them and a few other miscellaneous coupons. I felt like I had hit the lottery. Okay that’s a bit of an exaggeration, but if I take advantage of all five razor coupons I can get $40 worth of razor blades for $20. That is a huge savings! I think it is time to stock up since the coupon expires on the 31st. For more information visit My Coupon Hunter or just search ebay for the coupon that you are looking for.

TIP: Got staff? Fun for staff doesn't have to cost a bundle

MONEY SAVING TIP: If you own a business, you don't have to spend a bundle to thank them! It's possible to show your appreciation with a small budget. Last week we said a “Big Thanks” to our employees as part of a year-long monthly effort. We served hot dogs to our staff of 35 last week for less than $55. Like other companies, we have tightened our belts to make it through these challenging financial times. But we figure that doesn’t mean we have to curtail the fun and festivities…especially when it comes to showing staff members just how much they are appreciated!

Last month we had a Pancake Breakfast where we served up heaping stacks of fresh-cooked pancakes and equal helpings of “pats on the backs” to our employees.

These low-cost thank you days were the brain child of our VP of Human Resources, Florence Botbol. “We fed 35 people for under $40 and everyone had a smile on their face,” said Florence. “We're trying to go light on the expense and heavy on the kudos to make sure every one of our staff members knows how much they mean to the success of our member owned, not-for-profit financial institution.”

Other monthly “Thank You Days” coming up including: an Ice Cream Day, a Late Summer Cook-Off, a Halloween Potluck, a Bagels Bonanza, and a Holiday Potluck. “Our wonderful employees go above and beyond to make sure our member/owners are well satisfied and taken care of in these lean financial times, so we want to do the same for them,” Botbol said. “It doesn’t cost much to dish up a heaping helping of thanks!”

$100 bonus isn't really free money with costly fees

Recently, over dinner and a couple of drinks, my neighbor and her husband got into a friendly heated discussion about her recent experience trying to open a checking account at the new Chase bank that has opened a branch close by. Her husband was focused on the fact that they were offering a $100 bonus just for opening the account and either using the debit card or having direct deposit. Free money, it’s a no brainer, right? Wrong!

Lisa’s (the wife) concern was the incredibly bad experience that she had when trying to open the account. It started out with what she though would be the simple procedure of opening her account online, only to experience problems with the “next button” on the account opening application not working. She even filled out the application on two different computers to make sure that the issue was not related to a computer problem.

Without online success, Lisa called Chase’s online customer support and they were unable to help her. She was told that she would need to open her account over the phone. She was then transferred to another department and left on hold for 15 minutes. After finally getting through to someone and giving her application information, the representative was not able to figure out where to go on the system to add her husband’s information, so that it could be a joint account.

Lisa ended up deciding that it would probably not be worth $100 to open an account at this bank. She figured that this might be a sign of poor customer service in the future. I let her know about the great member service that Hawthorne provides and told her about out new Cash Back Checking, which will be available on August 17th. The new checking account offers a lot of great features including, no minimum opening deposit, no monthly balance requirement, one free NSF “BOUNCE FORGIVENESS”, and a Reward of .05 paid for each signature based transaction. I told Lisa that if she makes 166 transactions per month she could get $100 every year! Plus, the fees she's going to pay at Chase will offset that $100 she'd get. AND the money she'll save with our 677 surcharge free ATMs in Naperville...how many ATMs does Chase have in Naperville? She'll pay a surcharge to use another bank's ATM. So the $100 deal isn't such a great deal after all!

Shred Day was a success!

Shred Day was a success again! We had approximately 100 people attend. (I think the rain kept a few folks away.) We collected about 2 boxes of food for the Northern Illinois Food Bank and talked to a lot of people about the great deals at Enterprise Car Sales. Next Shred Day is Saturday, Oct. 3 from 10 am to noon at our Naperville branch!

Shred Day August 09