Memory Lane

If you can track down enough childhood, high school, or college friends of the gift receiver, try making an audio or video tape where each recalls shared memories of their school days together. Collect copies of any photos they may have and accompany with a photo album if possible.

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• Check Out the School System

  One factor in the determination of housing costs is the school system. Homes in towns with good schools can sell for 20-30% more than an equivalent house in a town with a poor school system. Always buy the home in the town with the best school system. To learn more about the demographics of the town you're considering, talk to local realtors or their websites for the latest on everything from school systems to proposed property tax hikes.

• Shop after "Back to School Sales"

  Since retailers often overstock for "Back to School" sales, sometimes you can get a better bargain by waiting until after school has started. Your child doesn't have to wear their whole wardrobe or use all their supplies on the first day of school, so save some shopping for a week or two after classes have resumed.

• High Fives on Re-fi's

  If you currently have a high-rate mortgage, consider refinancing. A $100,000 loan at 9 1/2% refinanced to 7 1/2% saves $142/month or $1,704/year, for a total of $50,991 over the life of a 30-year mortgage.

• Attend Local Sporting Events

  Check out your local high school's sporting events or even little league games. The games can be very entertaining and the players will appreciate the extra support.

• Back to School Savings Account

  You know your kids will be going back to school every September at least until they're out of high school, so why wait until two weeks before classes start to start planning. Set aside a certain amount of money every week just like you would with a Christmas club. Just $10 each week would give you $520 to work with when the school buying season arrives.