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Clark returned today from his summer vacation and he wanted to share some of it with you. He’s been to Montana, Wyoming and, his usual summer hangout, Florida. Montana has a population of less than one million people, but it’s the third largest state in terms of landmass. Clark and his wife Lane went to Glacier National Park, Yellowstone National Park and all of the usual suspects in Western U.S. But Lane was most excited about the fact that Clark’s cell phone did not work in either state. The experience was magnificent, and it was reasonably priced. The reason is that it was on sale. Frontier Airlines opened flights this year to Montana, which until now has not been an affordable state to visit. Frontier also has TVs with DirecTV in the seat backs. It costs money, but it was worth it for Clark’s wife. She didn’t even notice the length of the flight.

The average American gets 40 pre-approved credit card offers in the mail each month. Some people are getting that many each month, while others are getting none. That’s because it’s all based on your credit score. That’s the three-digit number that the financial houses use to decide whether to issue you credit. The higher your score, the more you’re going to get badgered with pre-approvals. But what if you have no credit score and you’d like to be able to get a loan? About 50 to 60 million people have no credit score. Nobody wants to give you a cell phone, give you a car loan or home loan. It’s a big problem. So, Fair Isaac, the company that created credit scores, has come up with a new credit scoring system for people who don’t have traditional credit. This new type of credit score is based on how you pay your rent, utility bills and other expenses. The scaling will be different and we have no idea how it will work. But if you are one of those people without a score, just make sure you are paying your bills on time. This new way of scoring may actually help you out.

Last week, economic news was dominated by the fact that the job market is cloudy. There are questions about the cost of oil because of terrorism in the world, and the stock market has tanked momentarily. High end stores are doing well, but those that cater more to the middle class are having terrible sales right now. Because of all this, the employment picture suddenly has become a political issue. The President of the United States is someone we anoint with power, but he’s not all powerful and all knowing when it comes to the economy. In fact, there is nothing President Bush can do immediately that will make the employment situation improve. The same is true of John Kerry. The people who work on the floor of the NYSE and know more than anyone about finances are even confused about what’s going on in the economy. In fact, interest rates that were heading higher are now all of a sudden going down again. So, if you missed the opportunity to get a great rate, you have a second chance. Rates are not as low as they were, but they have gone the other way because of the unexpected hiccup in our economy. No one is smart enough to predict what’s going on - whether it’s a small slump or a long-term problem. Just remember that you need to worry about your own personal finances. Make sure all of your bills are getting paid and that they’re getting paid on time. Stay in the investment game when it comes to your retirement and your child’s college education. Have a plan and continue to be well diversified. There is only so much we can control in this world, so be smart about what you can control.

Four years ago, Clark and his wife got what’s called a Replay TV. Lane, his wife, was not happy about another gadget in her home. But she couldn’t be happier now. She’s addicted to recording programs on this digital gadget. You tell it what to record and you watch it at your leisure. Some of them even have “commercial skip,” which automatically skips commercials. It’s getting huge. Tivo was the first company to come out with the gadget. But as more companies come out with them, Tivo has put its units on sale. The cheapest Tivo DVR is $100 with a rebate. The most expensive is about $400 right now. But the machine is not the costly item. It’s the monthly charge for the programming. It’s about $13 a month, or you can buy a lifetime use for $300. That’s a good bet if Tivo survives. If not, it’ll be a license that won’t be worth anything.

Clark wants to talk to people who own homes out there. What are the odds that you do not have enough insurance to cover your home? According to recent reports, two out of three people are significantly underinsured. You may have bought a house years ago for $100,000, and you haven’t adjusted the value since. Say you’ve been lucky during that time and now the house is worth $20,000 more. If there is a fire and you must rebuild your home, you will only get the original $100,000 in coverage if you haven’t upgraded the coverage. So, if the damage is $140,000, you will have to pay $40,000 for something that wasn’t even your fault. Most insurers will allow you to increase the coverage. So, if you’ve been in a home for a while, check out your coverage. If you don’t think it’s enough, bump it up. At the same time you do this, raise your deductibles as high as they will go. Unless your mortgage company prohibits it, Clark would like you to boost your deductible to $2,500. Most people have a $500 deductible, but that is not a good idea. Why? First of all, you pay a lot more in insurance costs. Secondly, if you make a claim against your homeowner’s insurance for a small amount of money, the insurer may treat your horribly. Sure, they’ll pay the claim. But they may fire you after. So, you only want to use homeowner’s insurance for catastrophes. If you’re thinking of switching insurance companies, Clark has great news. The September issue of Consumer Reports magazine recently rated insurers from best to worst. The No. 1 company this year is Amica Mutual, and that company is head and shoulders above the rest. The first year with the company is more expensive, but year two and beyond are less. No. 2 is a newcomer - Auto Owners Insurers, Inc. - which writes coverage in about 20 states. Coming in third is Cincinnati Insurance. For the first time since 1990, USAA is not in the top three. This year, USAA is No. 5. But the company is still very good.

Clark heard about an American Express offer that he wants to share with you. Amex has a product called the “Travel Funds” card. It’s a third kind of credit card that is known as a stored value card. If the money is stolen, Amex restores the money to your account much like a traveler’s check. The company must be trying to get more of these sold because right now it has a special offer. Through the end of September, you can buy one of these cards, put money on it and get a free companion airline ticket. Clark saw the offer and wondered what the catch was. He found it in the 2.5 pages of mice types accompanying the offer. The first catch is that you have to buy a ripoff ticket to get the companion ticket. The minimum fare purchase must be $350 to $380. Also, there are all kinds of rules about booking the ticket, when you can and can’t go, and flights are subject to change up to 24 hours before you go. What kind of deal is that? Check out the gotchas before you sign up for one of these “deals.”