If you build it, they will come. But not necessarily.

A recent three-part report in the Milwaukee Journal Sentinel reveals that the building spree by Milwaukee Public Schools is a dismal failure.

The $102 million initiative to revamp buildings was supposed to get students into local neighborhood schools and improve education. Instead, newly furnished classrooms are used for storage, and half-empty buildings are sprinkled throughout the district. Many specialty teachers in the fields of science, art and music have been downsized in budget cuts while enrollment has continued to tumble.

Like many urban school districts, Milwaukee Public Schools works with some of the poorest children in the city. Many of the children literally do not have parents. They may be living with a grandparent, uncle, aunt or other relative. At the school where my husband works, more than 20 children are bused to school from a homeless shelter. Even those who are lucky enough to have a biological parent often have only one. At a recent open house at an elementary school of approximately 200 children, only six fathers showed up.

It is clear that what these children need are parents, not just buildings. And if they do not have parents involved in their education, someone else better be available. Instead of facilities and expensive buildings, the money would have been better spent with additional staffing in the classroom, mentors for individual development, and tutors for special help. The $102 million could have purchased a lot of services for these children and their families.

Ed McMahon has finally found a buyer for his multi-million dollar house avoiding foreclosure. Reportedly, his mortage lenders filed notice of default in Februrary when McMahon was over $644,00 in arrears. When McMahon was interviewed regarding his money woes, he blamed his financial problems on having broken his neck about 18 months ago, preventing him from working.

I certainly can empathize with health issues causing financial hardship, but where's the bucks? McMahon worked for over 30 years on the Tonight Show with Johnny Carson, was the host of Star Search and spokesperson for dozens of products. I repeat: "Where's the bucks?"

While several accounts connect McMahon's problems to the credit squeeze and U.S. housing downturn, I think it has a lot more to do with poor money management. At 85 years old, with a career that spanned decades, you would think that McMahon would be financial secure. But I have seen this before.

When you travel for work, you know the drill: Get receipts for everything. When you spend cash for stuff like meals, beverages, hotels, and rental cars, your employer is likely to pick up the tab as long as you've got proof of purchase.

But what if you have to spend money on the road but can't get a receipt? It's happening more and more. The major airlines have deployed their newest fees with such haste that they are not always equipped to issue receipts for on-board purchases. Ask a flight attendant for one, and on some carriers you're more likely to receive a blank stare than appropriate documentation.

Take U.S. Airways. As of Aug. 1, the carrier began charging for drinks of any sort, including $2 for water. Passengers are not permitted to carry their own beverages through security, and buying drinks in the terminal is not always possible either because of a time crunch or because of personal dignity over gouging. If you, a business traveler, decide during Hour Three of a flight that you're thirsty, the staff will sell you a drink but they won't be able to give you a receipt.

I called U.S. Airways to ask if any of its flight attendants were equipped to furnish receipts for this newfangled charge. The answer was no. Right now, an airline rep told me, there are "plans" to give on-board staff hand-held devices for printing receipts by the first quarter of 2009, but for now, they have nothing, and those nebulous "plans" could not be elucidated for me. U.S. Airways' flight attendants also have neither the training or the equipment to write receipts by hand.

In Germany between the two world wars, inflation rose to such a point in the early '20s that a loaf of bread cost a million or more marks. Cities and townships printed their own money in a desperate attempt to work around this hyper-inflation. They were known as notgeld, or emergency money.

With Zimbabwe experiencing a similar rise in inflation (according to this report, a 100 billion Zimbabwe dollar note will not buy a loaf of bread today) and worries about our own U.S. inflation, it bears thinking about what happens when governments start printing money willy nilly to meet its debt obligations, much like our own U.S. Treasury is sometimes accused of today.

It's too early to say whether the U.S. Greenback will ever become as worthless as the Weimar era German Mark or the Zimbabwe dollar (and given the outrageous, anti-free market moves our esteemed Republican administration has engaged in, anything is possible, I suppose.) But in the spirit of the times, I celebrate the beauty of "emergency money," in whatever form it takes.

German Notgeld are beautiful pieces of paper money, often small works of art, featuring Expressionistic renderings of the given locale and its traditions. They're collected in Europe as practical yet lovely relics of a difficult time. There's not a large market for them in this country yet, as far as collectibles go, but that could change, if old money collectors start feeling like tapping into current events.

I wonder what this country's unemployed graphic artists could do, given the opportunity to design a local currency. A San Francisco $10 million note (good for two cups of espresso)? Think of the design possibilities!

Time to add yet another name to our Celebrity Money Mistakes gallery!

Academy Award-winning actor Richard Dreyfuss had a Close Encounter of the unpleasant kind this weekend, when he sued his father and uncle over money.

Dreyfuss claims he loaned his family members $870,000 in 1984, but he never got back his money or the interest he says was due.

Less than a month ago, Amey Stone blogged here about leasing a new van. She may have been among the last to enjoy the leasing option, at least until the turmoil of the market settles a bit. To make money with a lease, car manufacturers/lenders need to be able to predict with some accuracy the cost of money over the term of the lease, and the value of the vehicle at the end of the lease.

In the past couple of months alone, the value of used SUVs and trucks have taken a precipitous dive in favor of high-mileage vehicles, leaving leasing companies sitting on fleets worth considerably less than projected. The mere hint of inflation that factored into the Fed's decision to leave the benchmark federal funds rate at its present level is also enough to scare already loan-wary financiers.

All is not hopeless, however. According to MarketWatch, foreign money (so much of it our own money, spent and returning home) is available to fund more conservative leases. However, given the degree to which the Big Three have depended on leases to sell their land barges, I'm skeptical that new lease terms could be favorable enough to convince gas-conscious drivers to buy an Explorer, Hummer or Silverado.

Given these circumstances, I'm thinking Amey got a deal. Let the leasing company assume the risk that her van's popularity will tank before the lease is up.

A tragic case in Taunton, Mass., where a 53-year-old wife and mother fatally shot herself after faxing a letter to her mortgage company, demonstrates a common issue in many marriages; secrets about money. According to police, Carlene Balderrama fax read, in part, "By the time you foreclose on my house, I'll be dead."

"I had no clue," said spouse John Balderrama. He further explained that his wife had handled all the couple's finances and he no idea that she hadn't paid the mortgage in 42 months. But, in fact, there were clues. According to court records, Mr. Balderrama had filed for Chapter 13 bankruptcy three times from 2004 to 2006. Obviously there were long-standing financial issues that this couple were not facing together.

This is not unusual. Spouses more often lie to each other about money than any other issue. From hiding purchases and bills to opening single accounts, spouses often minimize their own spending. And in many households, only one spouse is actively involved in handling the family finances.

A few years ago, my wife and I had a bit of a furniture crisis. Our bookcases were overfilled, our coffee table consisted of a door perched atop three milk crates, and most of our kitchen chairs were intended for outdoor use. While I tend to be a little lax when it comes to interior decoration, I had to acknowledge that the time had, indeed, come to buy some new furniture.

After visiting the furniture stores in our area, we were absolutely disgusted. A sturdy, well-made, attractive armchair cost slightly more than the car I was driving at the time. Granted, it was a ten-year old used car, but still! If we wanted more reasonably-priced items, the quality quickly went through the floor. Luckily, I've always been a little handy, so I decided to make our new living room set all by myself. Over the next few months, I read book after book about carpentry and cabinetmaking, and ultimately produced a nice set of bookshelves, a couple of curio cubbies, and a coffee table that was cool looking and weighed only slightly less than a Volkswagen Beetle.

The old adage, if 10 years ago makes for an adage, was to monitor your credit and close down any unused credit accounts. Before the advent of "instant" mortgage approvals and automated underwriting systems, loans were actually evaluated completely by a living, breathing human being: an underwriter.

When a borrower would make an application for a home loan, an underwriter would look at other credit accounts. Some that had a credit limit with a low or zero balance. If the potential borrower had any past history of running up his credit line to or beyond his credit limit, it would make an underwriter nervous. What if a borrower who was pushing his debt ratios to qualify for a home loan would suddenly go out and buy a boat, a new car and take a trip to Cozumel right after he closed on his mortgage loan? Suddenly that new homeowner might not have the ability to pay his brand new mortgage.

From another prudent point of view, having old, unused credit accounts simply should be canceled should anyone ever attempt to steal an identify or otherwise charge something on an old card. But that's old school. Here's the new school.

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

My husband and I would like to make a $125,000 extension on our home. What is the best way to finance this project?

-Suzanne

Thinking of making some home improvements? Click here to visit Dolans.com and see if it's really the smartest money move for you..

Click here to ask Ken and Daria your question.

Yesterday, Fed Chairman Ben Bernanke announced proposed rules to help protect consumers getting mortgages. The general theory seems to be that the subprime mortgage mess was created because mortgage companies scammed borrowers. I do believe that happened in some cases, but the 1% home mortgage default rate we currently have is more likely mostly due to irresponsible borrowers.

So in an effort to protect people from themselves and make sure they don't find a way to buy houses they can't really afford, we can welcome in more government regulations. Because borrowers lied about their incomes, the lenders will be required to verify income. The lenders will have to force homeowners to escrow money for taxes and insurance, and they will also have to determine if the borrower can actually afford to pay the mortgage.

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Dear Ken and Daria,

Is there any advice you can offer to help me with the financial burden of paying for my daughter's college education?

-Maxine

Is your mailbox overflowing with college bills? Ken and Daria Dolan have proven strategies to tackle those tuition costs using quality sources you may not be aware of. Get started now at the College Center at Dolans.com.

Click here to ask Ken and Daria your question.

Nobody needs a house to fall on them (any more) to know that taking out a subprime mortgage is a lousy idea.

But car title loans -- there doesn't seem to be a lot of attention paid to these yet.

And so I just thought I'd mention that car title loans -- which are illegal in some states like Florida -- are a rotten idea. Sure, this is my opinion, but if you know nothing about them, read on, and see what you think.

Good news! After July 1, if you have any unconsolidated federal student loans with a variable interest rate, you can consolidate at the low, low rate of 3.6%. Phenomenal!

Unfortunately there are, as this MSN article points out, a few catches to qualify for this rate, making the whole deal nothing more than a talking point for some of our elected officials.

Seriously. Very few people will be able to take advantage of this offer. And those who can have not made the smartest financial decisions regarding their loans over the years.

The rundown:

1. If your student loans were issued after July 1 2006 ... BAM! No low rate for you!
2. If you are still in school ... whoops! Sorry...should have dropped out. Can't touch this rate!
3. You consolidated right after graduating to snag a lower rate? Too bad so sad.

That's right, if you made the sound financial decision to lock in a "low" interest rate on your federal student loans shortly after you graduated, you are out of luck. Yep, that's MC Hammer dancing over there with that 3.6% interest rate singing, "da na na na can't touch this."

Addictions come in all forms; drugs, recreations, stimulations. One of the most expensive I've been aware of is fashion addiction, and one of the cleverest enablers on the market is the web business BagBorroworSteal.com.

Bag, Borrow or Steal works like Netflix for the fashionista. Customers can choose designer handbags, jewelry, sunglasses and more from its extensive collection to rent for a day, week, month or more. The item is then shipped to them. When the customer is ready to trade in the cool jewel or Prada purse, she sends it back to BBS. If she's fallen in love with the item, she also has the option to buy it outright.

The site offers several ancillary services, including a fashion consultant, a rewards program, and rentals grouped by trend, such as fashions popularized by Sex in the City. A member program also offers discounts off of the rental rate.

As you might expect, the rental, while paling in comparison with the purchase price, is still significant. A Prada Mirtillo Tote will set you back $100 a week, a Valentino Histore Patent Tote $137 a week. A Tiffany Eternal Link necklace runs $78 a week, a Vera Wang aquamarine ring $150 a week, and a Kara Ross Lizard and Ostrich Clutch as seen in Sex in the City $78 a week.

For special occasions or a celebratory splurge, Borrowdesignerbags.com could be a very reasonably priced option to experience the high life, a week at a time.

Other fashion tips:

Upcoming Henri Bendel sale