It’s the American Way and it’s put us where our country is now. Is debt evil? I don’t think so. It’s a wonderful thing if used properly but if we had to admit it – most of us have probably abused it or tried to live way outside our means.

My husband and I both came to our marriage with credit card debt – more than I am ashamed to admit.  Thankfully, we had learned the errors of our ways and were motivated to get that debt paid off. I’m going to share about a system that worked for us – it’s one I had heard about several times and it really helped.

First and most importantly – sit down and actually write down all of your debt. Every card and loan and write out the full amount and the interest rate.  Rank the debts from the smallest amount to the largest. 

Find areas in your budget where you can cut back.  Drink a few less Starbucks drinks, brown bag your lunch a few days a week, eat at home on the weekends, and cancel your cable – whatever you can do.  Take that extra money and begin to apply it to the lowest balance. Continue until you get that amount paid off.

It may be psychological but getting one balance paid off can give you a lift and encourage you to continue on.  Take the monthly amount you were paying on the first debt and apply it plus what you were already paying on the second lowest balance and keep paying until it’s paid off.  Then take the total of what you were paying each month on that card/loan and apply it to the next debt. Keep going until it is all gone!

For example - You have 3 credit cards:

• $1000 balance  - $50 minimum payment
• $3000 balance - $70 minimum payment
• $5000 balance - $100 minimum payment

You manage to find $50 extra to pay each month so you begin paying $50 + $50 = $100 on the first card until it is paid off. Then you take $100 + 70 and pay $170 a month until the second card is paid off. (Add more if you can find more savings during the month). And then pay $170 + $100 = $270 a month on the third and final card until it is paid off.

It is a good thing to keep a credit card for emergencies or times when you really need one and it also helps your credit score to keep a credit card open with a good credit line.  However it is also smart to learn to pay with cash and to save for big purchases.

Kelly is a special contributor to the Arvest Bank blog, providing her insight and opinions on personal and family finance issues. 

When rival football teams Bentonville Tigers and Rogers Mounties face off on
Friday, Oct. 16, there is one guaranteed winner, The Teen Cancer Challenge.

Students, faculty and fans from the two schools are hosting a variety of fundraising
activities. You can order your rival T-shirt for $10 here before October 12.
Wear your shirt to the game and get a free Edy's ice cream.  Add a
balloon for $1 in honor or in memory of cancer victims.  Balloons are being
sold at Arvest branch locations in Bentonville and Rogers.  Balloons in
school colors will be launched just moments prior to kickoff.

For a complete calendar of events including Chick-Fil-A and Buffalo Wild
Wing Spirit Nights, a Pep Rally and a Joint Game Day Tailgate Party, click here.

When it comes to fighting cancer, we are all on the same team.  

On Saturday, September 12th the Fort Smith region celebrated its 2nd annual Unidos Customer Appreciation Day at the MLK Center at Martin Luther King Park. September is National Hispanic Month, and several Latin American countries also celebrate their Independence Day during the month of September.  Las Americas Too and La Siesta catered the food, there was a DJ and 2 groups provided entertainment with Latino dancing and folklore dancing.  A contest was held among the FSM branches prior to the event to see who could come up with the best basket of products and items representing a Latin Country.  These baskets were set around on the tables and used for decorations and were given out to customers as prizes at the end of the evening. 

To learn more about Arvest Unidos, click here.

Time is running out to enter the Arvest Go Mobile and Win contest - use Arvest Mobile Banking by September 30th and you could win $5,000!  Now is the time to enroll and use Arvest Mobile Banking to manage your bank accounts and qualify for the contest.  To enter, enroll for Arvest Mobile Banking and use the service at least once from September 1 - 30.  After the contest period, Arvest will draw from qualifying customers for the $5,000 prize.  Existing Mobile Banking users simply need to keep using the service to be entered, and non-users can qualify for entry by signing up for Mobile Banking within Arvest Banking On the Net.

To Enter:

• Enroll in Arvest Mobile Banking by clicking the "Mobile Banking" tab within Arvest Banking On the Net.  Use the service during the month of September to view balances, make a transfer or pay bills.
• For existing Mobile Banking users, continue using the service during the September promotional period
• New and existing customers must successfully log into Mobile Banking during the contest period to qualify for entry

Read the complete contest rules here.

Arvest Mobile Banking is a FREE service that allows you to track and manage your accounts from anywhere using your mobile phone.  Get updated balances, make transfers, view account history and pay bills quickly and easily.  Not sure how much is in your account?  Did your check get deposited?  Check your accounts anytime with Mobile Banking.  For more information, view our online Mobile Banking Demo.

Don't already bank with Arvest?  Open your account online in as little as 15 minutes!

Arvest is pleased to announce the promotion of Ted Sheets to Community Bank President of Eastern Oklahoma and Mena, AR within the Fort Smith Region.  This Arvest community bank consists of three branches located in Poteau, Sallisaw and Mena.  Ted will also serve as their commercial and agri lender and will office in Poteau.  Ted is a Senior Vice President and a 17 year Arvest associate who previously worked in the Siloam Springs market as Area Loan Manager.  He received a Graduate Degree in Banking from the University of Colorado and a Bachelors Degree in Agri Business from the University of Arkansas.  Ted is a member of Kiwanis in Siloam Springs and a former President of United Way of Benton County.

Andy Williams calls it "The Most Wonderful Time of the Year", but for many families, a more appropriate song title might be "The Most Stressful Time of the Year".  It doesn't have to be that way.  Time and money seem to run in short supply come December.  While we can't create more time, we can alleviate our stress by planning ahead.  With a little more time to shop, you can find the perfect gift rather than buying yet another foot massager. Gifts become more about the individual and less about what retailers WANT you to buy.

In addition to better gift giving, there are a number of financial benefits. Early planning enables you to avoid using credit and paying interest. Wouldn't it be nice to NOT see large credit card balances in January?

There are several ways to plan ahead:

Christmas savings accounts - Most banks have a specific kind of account that allows members to set aside money for the holidays.  At Arvest, this is called a Christmas Club Account. Essentially, you make deposits just as you would for any other savings account and on November 1, Arvest will
automatically mail you a check for the amount in your account.  These accounts earn interest and there is no minimum balance.  Just visit your local branch to get your account set up in a matter of minutes.  Earning interest AND saving for Christmas?!  It doesn't get much better than that.  The best time to open your account is early in the year to give you time to save in small increments.

Create a Christmas budget - It can be difficult to decide on a Christmas budget, but having such a budget is essential to keep your spending under control.  If you abide by the budget you have set for yourself, you can wake up December 26 without any Christmas debt.  To establish a Christmas budget, estimate what you spent last year adding what you think you might spend on new family members, teachers, friends, etc. Your monthly savings goal is this amount divided by the number of months until Christmas.

Shop early - Make your Christmas list early in the year, and pick up a few items each month.  Watching for sales on items you know your loved ones will enjoy will save money AND time.

Keep in mind:  Christmas gift-giving is all about showing your family and friends that you love them.  It really is the thought behind the gift rather than the amount spent.  Give yourself some extra time to show those you love how much you care.  Let's again make Christmas "The Most Wonderful Time of the Year"

Tiffany is a special contributor to the Arvest Bank blog, providing her insight and opinions on personal and family finance issues.

On September 11, 2009, Tulsa area employees participated in the United Way Campaign Kick-off & Day of Caring.  Arvest associates joined over 3,000 volunteers and 125 companies, who completed 350 projects at 63 United Way agencies.

The kick-off was held at TU Reynolds Center and included breakfast and a short program announcing the 2009 Campaign goal, reports from trailblazer companies, and a few words from the United Way 2009 Campaign Chair, Don Walker (Arvest Tulsa’s President)!

 After the kick-off, Arvest associates made their way to the Owasso Family YMCA, where they spent the day working on several projects, including:  landscaping/weeding flowerbeds, cleaning gym/workout equipment, cleaning lifeguard chairs, cleaning and organizing the before-and-after-care children’s program area.

You can learn more about the Tulsa Area United Way here!

Arvest Bank held its ‘Great $999 Giveaway’ on September 9, 2009 at the 9th North Central Arkansas Arvest location on Hester Drive in Harrison.  Lead Hill resident and Arvest customer Fred White’s name was drawn from over 250 entries.

Any new customer that opened an account and two services or any customer adding two services to an existing account at North Central Arvest Bank locations between July 1 and August 31, 2009 was automatically registered for the drawing.

Tiffany Curtis, marketing director for Arvest, stated, “At Arvest we love to reward our customers for banking with us.  We take pride in the relationships we form with them and think that the Great $999 Giveaway was just one more way to show our appreciation to those who make us successful.”