Emily's list: Back to school edition

Sorry, kids. Your lazy summer has ground to a halt, and it's time to get back to the classroom. Believe me, you will really appreciate those summer holidays once you're out of school. Congratulations, parents: You now have some time to yourself again.

Whether you are a mom or dad about to embark on a back-to-school clothes shopping spree or a college freshman about to get your first credit card, it never hurts to learn more about personal finance. Knowing when to save and when to pay off debt are major skills that take awhile to acquire.

Understanding the importance of credit is vital, and some of us flunk the test and end up in bankruptcy court. If we all just took a little more time to understand how to better manage our money, I think we would all feel a little more in control.

Today's homework: Study the posts below from some of the best personal finance teachers ... ahem, bloggers. Then you'll be head of the class!

1. While there are sometimes unusual circumstances, The Simple Dollar says that many people are always in debt because they are money victims and don't want to blame themselves. If you can't escape money problems, get out of denial and begin to educate yourself.

2. Studenomics provides a financial survival guide for new college students. One important step? Open up a credit card account, and use it to build good credit.

3. Did you know that some credit card issuers offer free extended warranties on your purchases? WiseBread explains how to take advantage of this often forgotten feature. Although your credit card terms and conditions are as boring as a physics textbook, you might learn a few things.

4. The credit bureaus don't proof your credit reports as closely as your English teacher proofs your essays. Gather Little by Little discusses the possibility of errors on your credit report and reminds readers that due to the economy, credit requirements are changing.

5. In college, you may find yourself strapped for cash and tired of calling your parents for money. Cash Money Life lists five small things you can do to save money. One is to  transfer your credit card balance to a 0 percent introductory offer card.

6. I've Paid for This Twice Already explains why sometimes, even in the face of massive debt, saving money takes priority.

7. Think you know your stuff? Moolanomy challenges you to a quiz to determine if you're credit savvy or not.

8. Summer is over, but the recession isn't. My Two Dollars thinks it may not actually be a bad thing for the recession to continue in order for people to learn a lesson about the dangers of major debt.

9. Identity thieves are like the big bullies on the playground. Bargaineering reviews a new identity protection service meant to outsmart these bullies and compares it to the infamous LifeLock.

See related: Glossary term: two-cycle billing