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Carnival of Personal Finance #1

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Welcome to Consumerism Commentary and the Carnival of Personal Finance! For an introduction to the Carnival, read this entry. For a schedule of upcoming Carnivals and their hosts, see this article.

Below you will find the articles that have been submitted so far. The deadline was originally set for Sunday night at 10:00pm, but any submissions received (via email to carnival “at” consumerismcommentary “dot” com) until Monday at 10:00pm will be added to the post.

Thanks to everyone who participated in the first Carnival of Personal Finance. If your article is included below, please feel free to link and trackback to this post. And now to the articles, in the order they were received.

Jim from Blueprint for Financial Prosperity recently went through the daunting process of buying a home, including the searching, financing, and purchasing. He has mapped the entire adventure in twenty-two informative sections.

fdbryant3 from A Geek’s World believes that charity is an important part of a personal financial plan. He has contributed an article detailing his personal beliefs and linking to some of his favorite organizations. He makes a special note of distributed computing. Donating some of your computer’s processing cycles to a worthy cause is certainly a form of charity.

Steve Mertz, who writes In Cash Flow We Trust, is a former investment professional and current “Financial Possibilities Expert.” He travels, speaks to audiences nationwide, and is in a good position to evaluate a large number of investment portfolios. Earlier this month, he conducted a seminar in Colorado. In an article on his weblog, Steve analyzed the problems one of his clients had with a broker from Merrill Lynch.

Dawn fitfully focuses on frugality on her fine blog, Frugal for Life. In an article entitled Finding Balance in the Living, she applies Eastern philosophy to the art of frugal living and adds in a pinch of Thoreau. This recipe results in a connection between the principles of simple living and those of frugal living.

Ramit Sethi, a student at Stanford University, will Teach You To Be Rich. He contemplated the purpose of his site and those of finance professionals. He encountered a gentleman milling around the dumpster while the university students were ditching their garbage while moving out at the end of the semester. Read his story; it’s a great rumination on what our real goals are. Perhaps Ramit will teach you to be kind.

Jon, who writes Smart Money Daily, is a big fan of Robert Kiyosaki. Jon believes it is impossible to get out of debt. He is not talking about any one individual’s debt; the article focuses on a macroeconomic view. Jon’s Carnival entry shows how it is impossible for every financial entity to be debt-free at the same time. Read the article to understand why.

JLP is a financial planner who writes All Things Financial. News hit last week about mainstream acceptance of 40-year mortgages. JLP detailed the cost comparisons among 40, 30 and 15-year mortgages. The examples he used showed a significant difference in total interest paid. It’s an eye-opening figure for those shopping for mortgages.

Nickel from Five Cent Nickel agrees with author Andrew Tobias. Benjamin Franklin is either turning in his grave or smiling down because in the twenty-first century, a penny saved does not equal a penny earned. These days, income tax implications are taken into account.

Jonathan, the author of MyMoneyBlog, recognizes the art of fighting over the check. When dining out, it is important to grab the check first. Even if you don’t make the first grab, there are options for paying the check despite the other party’s attempts.

Free Money Finance has submitted to the Carnival his first article of a series called Best Advice I Can Give — Blogger Edition. Several bloggers were interviewed for the series, so read the first entry and follow up in the coming weeks to read more.

Smarty from Growing Money stays financially sane. Over the years, he has developed financial habits that are doing quite well for him. For example, while others float on the credit card grace period, Smarty pays off his bills immediately. Read his article for an explanation of Smarty’s habits.

George, who writes Fat Pitch Financials, saved $156 with one phone call. While researching lower broadband internet access prices, he called his cable service provider and declared his intent to move to a lower cost provider. Read his article to see the company’s response.

Jose Anes and his wife have developed a financial account management strategy that is working for the couple. Interestingly, when it comes to their residence, one owns while the other pays “rent.” Make sure you check out the details of their unique arrangement.

A big Thank You to all the bloggers who contributed articles, spent time writing, and contributed to the success of the first Carnival of Personal Finance. Next week, look for Carnival of Personal Finance #2, to be hosted by Blueprint for Financial Prosperity. Submit your articles here.

Updated February 6, 2012 and originally published June 20, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

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