Welcome to the latest Carnival of Personal Finance, edition number 46.

For those coming to Consumerism Commentary for the first time, you can learn a little bit about me, Flexo, and this blog. You can also peruse through what I’ve arbitrarily decided were my “best” blog entries of 2005. Thanks to everyone who submitted an article this week. It’s hard to believe we’re approaching one year for the Carnival. Here’s what we have: Read the rest of this article »

For some reason, some time this weekend Consumerism Commentary reverted to the default WordPress display style. To anyone who viewed the site and was slightly confused, I apologize. It took me by surprise as well. Here’s what was happening this past week across the MoneyBlogNetwork and beyond:

Free Money Finance began a series highlighting 20 ways to save money on your car.

AllFinancialMatters saved $489 on his car insurance by raising his deductible and dropping comprehensive coverage on one car. It’s so easy, a caveman can do it.

Mighty Bargain Hunter warns people not to get over-educated. Can one be “over-educated?” Knowledge, especially scientific/empirical knowledge (the basis of advanced learning in the modern world), is a quest that should last a lifetime. The trick is to get someone else to pay for your education.

Five Cent Nickel describes how he chose between two insurance agents—one picked up the phone, one did not.

Blueprint for Financial Prosperity asks for comments on the $100 gas rebate proposal that’s circulating the Senate.

Last week, thre of my favorite bloggers launched Queercents, a blog focusing on finances from a homosexual perspective.

Personal Finance Advice suggested shopping once a week (or less frequently) to save money.

No Credit Needed presents 10 practical ways to save money.

I hope everyone had a great weekend. I could use another day before going back to the office, but unfortunately, the space/time continuum does not bend to my will.

I started a new job this week. The location is much more convenient, the pay is better, the responsibilities are relatively similar, and the people are friendlier. In addition, it’s bound to be better for my career at the company in the short term and for my life in the long term.

Things are progressing slowly as I’m being granted access and given training to new systems.

I’ve spent a lot of time talking to various people, and it seems I’m coming into a situation where expectations for me will be very high. Apparently my interview was nothing short of stellar and I received rave recommendations from former coworkers who had previously transferred to a nearby department. This was totally unexpected and unasked for, and I’m sure it helped convincing the decision-makers that I’d be good for the job.

Not everything is positive. The cafeteria is just expensive as the one in my old office. (After all, it is the same company.) While I’ve quickly fallen into the habit of going out to lunch with my new coworkers, sometimes I spend less getting food outside the building than the overpriced cafeteria. Someday I’ll try bringing in my lunch again on a regular basis.

All in all, this is a good move. And there’s more positive news: I managed to crawl away from my Advanced Statistics for Managerial Decision Making class broken and bleeding, but with a grade of “B.” Now it’s time for Yet Another Finance Course.

(I wrote this late last night and it is being published in the morning. In case you were wondering, as I know some were, I do that once in a while so I’m not spending time blogging from work.)

TIAA-CREF has finally come through! You may have been following the saga. If not, here’s the short version: In order to reduce my tax liability from self-employment income, I wanted to open a SEP IRA. The SEP IRA lets you contribute tax-free beyond the Traditional/Roth IRA limit, but only as an employer. I employ myself and generated several thousand dollars last year, so I qualify.

There are more details about SEP IRAs here, but basically I was allowed to invest up to 25% of my income or $42,000, which ever amount is less. Needless to say, I didn’t invest $42,000. In fact, I only invested $858, but it was enough to turn my remaining 2005 tax liability into a tax refund.

I applied for the account in March and my application was received on time by TIAA-CREF in order for my funds to be deposited via EFT on April 7. I tried to leave enough time before the tax deadline (April 17) just in case I ran into problems.

Ran into problems I did. I think it’s just attributable to the fund company’s backlog during tax season, but they didn’t get around to funding my account. I called several times as I mentioned in previous posts, and I’m happy to report that today, the account was finally funded. I was assured the contribution would be “coded” to qualify for the 2005 tax year, even though it is now past the tax deadline and I didn’t file for an extension.

I chose the TIAA-CREF International Equity Index Fund (TRIEX) to increase my exposure to international stocks as I felt that sector could use a little boost in my allocation.

Throughout 2006, I will continue to contribute to the SEP IRA on a “once-in-a-while” basis. I want to make sure I don’t go over the limit (25% of self-employment income). I was spurred on to look into the SEP IRA account to reduce my tax liability after reading two posts on Blueprint for Financial Prosperity. Thanks, Jim!

Your father owns two car dealerships and spends thousands of dollars on you as if money were no object. Your extravagant Sweet Sixteen party was featured on MTV and featured recording artist Frankie J [warning: music] (whose hit seems to be a weak rendition of More Than Words). Your bedroom contains a Jacuzzi bathtub and drapes over the bed, like the princess you are. You were given two cars for your sixteenth birthday. You have your own makeup artist, hair stylist, manager, and publicist. Other than the MTV appearance, your biggest public performance was in the community theater in Scottsdale, Arizona as Dorothy in The Wizard of Oz.

You are Marissa Leigh [warning: music]. (Honesty moment: I like her name.)

Welcome to Marissa’s World is the story of a super-spoiled teenager whose parents push and control her performing career (which doesn’t quite exist).

So, is this the typical life in Scottsdale, Arizona? A few years ago, I traveled to Phoenix, Scottsdale, Sedona and the Grand Canyon, all in the same state. I enjoyed the trip and I really loved the area. In fact, Scottsdale is one place I considered moving to, if the right job happened to land in my lap. Maybe I need to work for a teen superstar-wannabe. That’s it—I’ll be a financial advisor for rising stars whose daddies have mad cash to drop.

Will she succeed in her performing career? According to her acting resume, she can do a Cockney accent. That will certainly come in handy some day.

20 years ago, Geraldo Rivera hosted a live television special in which a vault once belonging to Al Capone was opened for the first time. Everyone expected to find a stash of money and possibly weapons, like other stashes found previsouly. During the event broadcasted live, the vault was open to reveal barely anything. It was a huge disappointment for tens of millions of viewers, but even moreso for Geraldo. He was unemployed before being asked to host the special. Needless to say, he was unemployed for long after the failure.

Geraldo writes about the event on his own Geraldo at Large blog. It’s interesting to see how he reacted off camera, later that night.

Of course, later some skinheads broke his nose, giving us more Geraldo news to talk about.

Failure can be tought to deal with, but it looks like Geraldo Rivera is back with his new TV show, although I for one can only take so much sensationalist media… but until I get fed up, it’s kind of fun.

On Monday morning, I’ll be hosting the Carnival of Personal Finance. If you’re a blogger planning on participating, please submit your article as soon as possible! The Carnival’s a great way for new bloggers (and older ones as well) to showcase some of their best entries in the last week or so. Everyone loves a carnival!

Here’s news in the pfblogosphere. Dawn from Frugal for Life, Caitlin from Clutter2Cash and Nina from Sitting Pretty have banded together to for a new blog network, QueerCents. It makes sense for those interested in personal finance to bond together when they have a common theme.

Flatbeer asked me:

GMAC raised the interest rate to 4.75% ($500 min). I checked the general FAQ and you can now download account info into Quicken & Money. With electronic transfers, downloadable account info, checks, AND a VISA check card, I would think that most people would choose this option for an online money market account. Why do you think they are not?

The email inspired me to update the online savings and checking account rate table. As far as why people don’t use GMAC as often, it’s probably an issue of marketing. I see ads for ING Direct, Emigrant Direct and HSBC Direct constantly, but it doesn’t appear that GMAC markets the product quite as strongly.