Welcome to the Carnival of Personal Finance!
This is a collection of the week’s best personal finance articles on the web. I’m honored to host this week and grateful for all the wonderful submissions. I’ve chosen a theme of color. Color has a huge impact on our moods and thoughts. It can call your attention or hide in the background. It can attract you or repel you. Color tells a story that words cannot. But before we get into colors let’s announce the Editor’s Pick!! These articles were my personal favorites
FMF from Free Money Finance presents Financial Rules that Work and Don’t Work. I liked this article because financial rules annoy me. I think “one size fits all” is really “one size fits none!” Here FMF lays out 8 financial rules and gives his opinion on whether or not it’s a good rule to follow.
Roshawn Watson from Watson Inc presents Why Do The Rich Get Richer?. The rich have characteristics, habits, and tools that the average person doesn’t. Or at least that the average person doesn’t use. Find out what they are and start putting them to use in your life.
Russ Thornton from Wealthcare For Women presents 3 Characteristics Of A True Wealth Manager. Wealthcare, ha! That’s funny. A wealthcare manager will treat your money differently than just an adviser. Know the difference!
Red is the color of extremes. It’s the color of passionate love, seduction, violence, danger, anger, and adventure. Our prehistoric ancestors saw red as the color of fire and blood – energy and primal life forces – and most of red’s symbolism today arises from its powerful associations in the past.
SB from One Cent At A Time presents How Payment Method Impacts Product Quality Choice, and says, “As researchers found out there is a connection between type of product you by and the mode of payment you make to purchase that product. The study found that we become more cost conscious while using cash as opposed to credit cards.”
Steve Mertz from In Cash Flow We Trust presents From $150,000 a Year to Starbucks, and says, “When men get laid off in a tough economy like this; they view the glass as half full and fully expect to recover quickly. Women tend to be a little more practical and while they remain optimistic-they tend to have a better plan B. ”
Miss T. from Prairie Eco Thrifter presents What Is National Financial Literacy Month?, and says, “On March 28, 2012 the Senate passed Resolution 409 that officially recognized April as National Financial Literacy Month. Why do we need it? Well according to the bill’s sponsors, in the resolution presented to and passed by the 112th Congress this March, we have a lot of issues to solve.”
Peter from Bible Money Matters presents Financial Literacy Month: Why Being Knowledgeable about Personal Finance Will Save You from the Unexpected, and says, “Getting our financial house in order and becoming financially literate has saved us from “unexpected” expenses countless times since we’ve paid off our debt. Because we understood the importance of saving up an emergency fund, paying for things with cash and properly insuring ourselves, we avoided huge debt when my wife was in the hospital for a month in 2008 (to the tune of $250,000), or when I had to have my appendix out right after we got married.”
Raj from E-Money Log presents The Basics of Money Management – Save, Invest and Repeat, and says, “The article covers the basics of money management – saving, investing and repeating the process. The emphasis is on repeating as many people save and invest initially but do not repeat and do not accumulate wealth.”
Nicole from Nicole and Maggie: Grumpy Rumblings presents All the money in the world: A book review, and says, “Nicole and Maggie review All the Money in the World. Should you read it? Read the post and find out.”
Chris from Experiglot presents When to Outsource Personal Tasks, and says, “When do you outsource tasks you don’t want to perform?”
Martin from Studenomics presents What Can You Do With $100 Right Now To Change Your Life?, and says, “How $100 can change your life.”
Orange is vibrant. It’s hot, healthy, fruity and engaging – but it can be abrasive and crass. It’s a polarizing color. People either love it or detest it.
Orange symbolizes energy, vitality, cheer, excitement, adventure, warmth, and good health. However, pure orange can be brass; however, it may suggest a lack of serious intellectual values and bad taste.
Investing and Real Estate
Michael Kitces from Nerd’s Eye View presents Why Keeping A Mortgage And A Portfolio May Not Be Worth The Risk, and says, “Keeping a mortgage isn’t just about investing for a higher return. To really be compensated for the risk, investors demand a risk premium in the form of a higher return. Since paying off a mortgage is a risk-free return, this means in practice investors should be pre-paying their mortgage unless they expect double-digit equity returns in the coming years!”
Tim from Brilliant Finances Personal Finance How To presents Rare Coin Sells for $1.15M, But Was It A Good Investment, and says, “Would an investment purchased for $105,000 38 years ago and sold for over $1M be a good investment? Find out in the article.”
Mr. Money from Smart on Money presents Banks Will Pay You to Avoid a Drawn Out Foreclosure Process: Short Sale Incentives, and says, “ecause of the large number of troubled mortgages on the books, some banks are now making moves to offer incentives to homeowners in order to get them to sell their properties for less than they owe before they go foreclose.”
D4L from Dividend Growth Stocks presents 2 High-Yield Investments To Increase Income While Waiting On Dividend Growth, and says, “We have all heard it… Stodgy, for old people, yawn, boring! These have all been used to describe investing in dividend growth stocks. Nevertheless, I am a firm believer in dividend growth stocks for building a bullet-proof retirement portfolio. Study after study has shown that most of the historical stock market returns have come from reinvested dividends…”
PK from Don’t Quit Your Day Job… presents The Efficient Market Hypothesis is Flawed, and says, “I consider this article sort of like an informal second piece in a three part series, but it stands on its own: Is the Efficient Market Hypothesis Flawed? I make a case for “yes”, and explain a few reasons why it may be possible to beat the market – without random chance.”
Mike Piper from Oblivious Investor presents Is It Safer to Use Multiple Fund Companies?, and says, “An interview with Vanguard regarding the systems in place to protect fund investors.”
Investor Junkie from Investor Junkie presents Investing in a Rental Property, and says, “What if someone told you the market for investing in single family homes was red hot? You might just think they’re crazy. So what’s so hot about single family homes in 2012? Low costs of borrowing, excellent spreads between rental prices and mortgage payments, and a minute uptick in job growth. ”
Eric from Narrow Bridge Finance presents Five Frugal Tips That Go Too Far, and says, “I am all about saving money. I like to focus on the big wins like cancelling monthly recurring expenses (like cable) or paying a student loan off 8 years early to save thousands of dollars in interest. I usually don’t care about saving seven cents on soap by not showering. Here are some other crazy frugal tips that I would never, ever do.”
Boomer from Boomer & Echo presents Beat Inflation With Rising Dividends, and says, “One way to beat inflation is to focus on companies that continuously raise their dividends, such as the “Dividend Aristocrats.” This gives you a stream of income that rises as fast as the cost of living.”
Ken Faulkenberry from AAAMP Blog presents What is the Big Deal About Intrinsic Value?, and says, “The goal of the value investor is to take advantage of disparities between the intrinsic or fundamental value and the market price of an asset.”
J.P. from Novel Investor presents Bond Basics: Bond Price And Yield Relationship, and says, “One of the more confusing aspects of bond investing is the relationship of bond price and yield. In a time where interest rates are at all time lows, understanding the bond price and yield relationship is important.”
Div Guy from The Dividend Guy Blog presents Using Dividend ETF’s In A Dividend Portfolio, and says, “What’s in your portfolio?”
Familymoneyvalues from Family Money Values presents Vacation Homes, and says, “Starting in 4th quarter last year, vacation home sales started to pick up around the nation. Should you buy a vacation home as a real estate investment?”
Yellow is the most luminous of all the colors of the spectrum. It’s the color that captures our attention more than any other color. It’s the color of happiness, and optimism, of enlightenment and creativity, sunshine and spring.
Lurking in the background is the dark side of yellow: cowardice, betrayal, egoism, and madness. Furthermore, yellow is the color of caution and physical illness (jaundice, malaria, and pestilence). Perhaps it’s no coincidence that the sources of yellow pigments are toxic metals – cadmium, lead, and chrome – and urine.
Career and Taxes
John from Wallet Blog presents Students with Summer Jobs Shouldn’t Forget the Tax Man, and says, “Students – Looking forward to that summer job? Avoid a nasty surprise in the spring. Don’t forget to take taxes into consideration.”
Jeff Rose from Good Financial Cents presents The 13 Best New Small Business Ideas and Opportunities to Start Today, and says, “Sick of your day job and want to explore something new? Here are 13 small business ideas to venture off on your own. ”
TotallyMoney presents How to moonlight successfully, and says, “How to make extra money by taking an extra job and the things you need to think about”
Control Your Cash from Control Your Cash presents Work from home! (You can’t possibly think this is legit), and says, “Those “work from home” companies don’t want you to be a drug mule, but they’re not far behind.”
Mike from The Financial Blogger presents Why I’m Not in The Real World, and says, “What are you doing with your career in your 20s?”
Mike from Do Not Wait presents What if You Can’t Start Your Career?, and says, “What should you do when you don’t have your dream job but want to save money?”
Sandy from Yes, I am Cheap presents Can I Afford To Get My Master’s Degree, and says, “Tuition bills and the costs of living seem to keep rising while average incomes continue to stagnate. So what’s the answer?”
Green is no longer just a color. It’s now the symbol of ecology and a verb. Since the beginning of time, green has signified growth, rebirth, and fertility. In pagan times, there was the “Green Man” – a symbol of fertility. In Muslim countries, it is a holy color and in Ireland, a lucky color. It was the color of the heavens in the Ming Dynasty.
The English language reflects some strange attributes: Would you rather be green with envy, green behind the ears, or green around the gills? (Idiomatic American English for extremely envious, immature or nauseated.)
Chloe Muller from Smart Finance 101 presents Five Ways To Save On Your Travels, and says, “This is an article over 2000 words that details my personal experience with frugal travel through Asia. It highlights the five things people must do if they want to travel well on a budget. ”
Earth and Money from Earth and Money presents Planning a Green Frugal Wedding – Venue, and says, “When it comes to the venue, you can be both green and frugal without seriously defying standard wedding traditions.”
Kacie from Sense To Save presents How to take a break from being frugal, and says, “Being frugal is a positive thing, but sometimes we could use a break. Here are some ideas for avoiding frugal fatigue and taking a little break to avoid burnout.”
Robert from The College Investor presents Cut Travel Expenses, and says, “With gas prices increasing to an all time high it’s been predicted that this year many families will cut vacation time down, or forgo traveling altogether. If you are smart and plan well, you can avoid eliminating travel plans. I will share some helpful ideas to consider.”
Mike from Green Panda Treehouse presents I’m Not Rich Because…, and says, “What’s holding you back from being rich?”
Connie Prater from Taking Charge presents Women hit with higher credit card interest rates? Let’s get to the bottom of this, and says, “When financial literacy group came out with a study that showed women were paying a half a percentage point more in credit card interest than men, I wanted to get to the bottom of why that could happen. I explore the potential reasons in this blog. Women should not be paying more than their fair share for anything.”
Clint from Accumulating Money presents The Importance of a Credit Report Check-up, and says, “There’s one checkup that many consumers fail to perform that can directly affect every aspect of their life – their credit report. Consider this an examination for the health of your future.”
Blue is the favorite color of all people. It’s nature’s color for water and sky, but is rarely found in fruits and vegetables. Today, blue is embraced as the color of heaven and authority, denim jeans and corporate logos. It is cold, wet, and slow as compared to red’s warmth, fire, and intensity.
Most blues convey a sense of trust, loyalty, cleanliness, and understanding. On the other hand, blue evolved as symbol of depression in American culture. “Singing the blues” and feeling blue” are good examples of the complexity of color symbolism and how it has been evolved in different cultures.
Budgeting and Saving
Philip from PT Money Personal Finance presents My Accountant Reviews QuickBooks Online vs. Desktop, and says, “Since I don’t know as much about how QuickBooks Online compares to the desktop version, I asked my accountant to share his opinion on the two based on his experience.”
Amanda from My Dollar Plan presents Should You Pay for Your Child’s College Education?, and says, “This is not an article about whether or not you can afford to pay for your child’s/children’s college education. Rather, this is an article from the perspective of a recent college grad (2005) on whether or not parents should pay for their child’s college education.”
Sean Smarty from Grow Money presents What Banks Are Offering Some of the Best Savings Accounts in 2012?
Eric J. Nisall from DollarVersity presents What You Thought You Knew About MPG Ratings Is Probably Wrong, and says, “When shopping for a car, fuel economy is one of the most important factors. Unfortunately, you can’t always trust that the window sticker is accurate.”
Justin from The Family Finances presents Spend Less Than You Earn, and says, “The closest thing to a financial “magic bullet” is to spend less than your earn. Nothing works better for improving your financial situation.”
Purple’s rarity in nature and the expense of creating the color and has given purple a supernatural aura for centuries. Purple is also the most powerful wavelength of the rainbow – and it’s a color with a powerful history that has evolved over time. In fact, the origins of the symbolism of purple are more significant and interesting than those of any other color.
Debt and Finance
Everything Finance Blog from Everything Finance Blog presents Is It Okay to Hire a Cleaning Lady When You Have Debt?, and says, “I don’t particularly enjoy cleaning and neither does my husband. And if I have a day off, the last thing I want to do is spend a good chunk of my day cleaning. Which has led us to ponder: is it okay to hire a cleaning lady even though we still have debt?”
Glen Craig from Free From Broke presents How Will Your Student Loans Affect Your Credit Score?, and says, “Many don’t think about the long-term affects of student debt when they go to school, especially not how it affects their credit score.
Jeff Rose from Life Insurance By Jeff presents Do Newlyweds Really Need Life Insurance?, and says, “Wedding cakes and honeymoons are on newlyweds minds. But what about life insurance? Do they really need it? Let’s find out…”
Well there you have it folks! The very best edition of the Carnival of Personal Finance ever created, in my opinion anyways! See you around!