As featured in The Wall Street Journal, Money Magazine, and more!
     

Plutus Awards, Education Vs. Skills, Grown-Up Jobs, and More

This article was written by in Link Sharing. 4 comments.


This September, the Plutus Awards will be coming to the Financial Blogger Conference. Consumerism Commentary is part of a wide community of blogs focusing on personal finance, money management, personal investing, and retirement. Personal finance blogs provide an alternative to traditional financial media, and the audience for this alternative type of media has expanded greatly since I started Consumerism Commentary nine years ago. The Plutus Awards exist to appreciate the excellent writing in this niche as well as the best financial products and services as judged by the community of mostly home-grown experts.

Over the last few weeks, I’ve been working with a small but dedicated group of bloggers in the planning committee, planning this year’s awards and ceremony. I’m excited about the major improvements we’re making this year for the Third Annual Plutus Awards, from the process for public voting to the ceremony itself.

More details about the Plutus Awards will follow. Here are a few great articles written by the bloggers participating in the planning committee.

Kevin McKee will be the host of the awards ceremony at the conference. At Thousandaire, Kevin writes that skills, not education, make you money. Higher education could be in a bubble, like real estate has been. The cost of getting a college degree increases substantially each year, but the financial benefits don’t keep up the pace. The democratic idea of “the best education for all,” resulting in increasing student aid, doesn’t help the increasing cost of the education as well as the overall commoditization of degrees. Here are more of my thoughts on the matter. I’ve written about education extensively.

To the point about skills, there are many ways to acquire skills that directly affect income earning ability, and a traditional education may not be the most effective method of doing so. If you want to earn money from your brain potential rather than your physical labor potential, nothing can change the fact you’ll need the cognitive skills fostered by higher education. Human capital is a sophisticated calculation that takes education and skills into account.

Marissa from Thirty Six Months shares what she learned from her mistakes when it comes to landing your first grown-up job. There are certainly many things I wish I knew about when I was fresh out of college — going back to Kevin’s thoughts about how an education sometimes doesn’t make up for lacking skills (in this case, life skills) — but part of life is making mistakes and learning from them. That’s one of the concerns I have with the financial literacy movement. We can force high school students to listen to lectures with points such as, “Open a Roth IRA when you start your first job,” and, “Avoid credit card debt,” but messages like these are lost on most students. They’ll learn best when they experience the mistakes first-hand.

Tom from the Canadian Finance Blog offers 5 tips for reaching retirement goals. There’s a little in here geared towards Canadians, but those in the United States and across the world — well, the developed world, where “retirement” exists — can certainly apply the concepts to their own country’s resources. Starting as soon as possible is key. That, and choosing low-cost investments, is the key to building wealth most efficiently over the long term (without resorting to riskier propositions).

Miranda from Planting Money Seeds recently wrote about the best summer jobs for teens for Bargaineering. While last summer the economy prevented as many teens from taking summer jobs, the situation seems to be somewhat improved this year. One of my first summer jobs as a teen, not including summer camp counselor, was working for Radio Shack. I didn’t know much about electronics, but I knew about computers. That didn’t help me in the job. And I hated pushing the Tandy Service Plan (an extended warranty) on products we sold.

Jackie from MoneyCrush has some suggestions for pulling yourself out of the doldrums. I have to be honest: the last year or so of my life hasn’t been the easiest for me. The doldrums, or worse, have been relatively long-term. Obstacles were followed by crises which were in turn followed by more obstacles and crises. I surrounded myself with the support I needed, though. I’ve learned a lot from my mistakes and I’m stronger for it, with, as Jackie put it, a renewed sense of motivation.

J. Money from Budgets Are Sexy recently had a son, and understandably is spending time with him rather than participating in the Plutus Awards planning committee. Prior to the birth of his son, J. Money was contemplating opening a thrift store and offering tips for those who might consider the same. Opening a store-front is an interesting business idea with significant challenges. My teenage Radio Shack experience was my last in retail, but one never knows what the future might hold.

To any bloggers who might be reading this article: Plutus Awards voting will begin on August 1. The finalists will be chosen from among the top vote recipients in each category, but each blog or blogger will be limited to becoming a finalist in only two categories. In campaigning for votes, you might want to be specific about the categories you’d like to win.

Published or updated July 20, 2012. 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.

Email Email Print Print
avatar
Points: ♦127,435
Rank: Platinum
About the author

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 .

{ 4 comments… read them below or add one }

avatar Financial Samurai

Exciting new format this year Flexo! Predictions are going to be a lot harder this time!

Reply to this comment

avatar Lance @ Money Life and More

Sounds like you guys will be doing a great job! I wish I could attend the awards ceremony but I can’t get the time off work to go to Fin Con! Maybe I’ll actually be around long enough next year to get some votes :)

Thanks for putting this together and I hope you guys have a blast.

Reply to this comment

avatar Miranda

Thanks for including me on the committee, and in the roundup :)

Reply to this comment

avatar Mike Collins

Sounds exciting…can’t wait to see how things play out!

Reply to this comment

Leave a Comment

Connect with Facebook

Note: Use your name or a unique handle, not the name of a website or business. No deep links or business URLs are allowed. Spam, including promotional linking to a company website, will be deleted. By submitting your comment you are agreeing to these terms and conditions.

Notify me of followup comments via e-mail. You can also subscribe without commenting.

Previous post:

Next post: