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:
Frugal from My 1st Million at 33 writes about how he uses banks for keeping his money safe. He mentions NetBank, ING Direct, and Emigrant Direct. (630 words.)
Tricia from Blogging Away Debt looks at rebates and how to keep track of them using Quicken. Her suggestion requires a little more work but helps you account for the real cost of items purchased. Her instructions contain screenshots and is very thorough! (315 words.)
Speaking of good food, Madame X from My Open Wallet talks about really good hamburgers in New York City. She contemplates why people would wait in line for an hour for lunch when that time could otherwise be spent productively. (524 words.)
Chris Brunner shares his energy portfolio on his blog, The Small Business Buzz. (230 words.)
Supermom has 10 creative solutions for getting out of debt. Some interesting ideas she posted on her blog, Getting Out of Debt, include charging your friends and family to be their taxi or chauffeur and doing chores for your neighbor. (447 words.)
Ironman at Political Calculations is at it again! His latest tool allows those curious to determine whether it’s a good financial idea to trade in your gas-guzzler. I like to think that for some, finances are not the only considerations when making the decision to be friendlier to the environment. (267 words.)
Free Money Finance continues his Richest Man in Babylon series with comments about Chapter 3, In Which The Author Presents Seven Cures for a Lean Purse. It comes down to the decision people make each day between saving for a larger net worth or purchasing items that disappear over time. (409 words.)
The Workplace Prof Blog writes about financial security in retirement. The blog author describes AARP‘s suggestion for reconsidering retirement funding after the dissolution of many companies’ pension plans. (251 words.)
Thatedeguy from A Penny Saved wonders why people bank where they do. He postualtes that people choose their bank due to convenience or employer suggestion. Personally, I opened an account with my employer’s bank, but I don’t actually use the account. I have the same primary checking and savings account I had since I was a teenager, though the bank was merged and acquired several times since then. (100 words.)
From our northern brothers and sisters, Big Cajun Man from Canadian Financial Stuff warns that Revenue Canada wants you. The video “public service announcement” presents a metaphor of turing your hard-earned income over to the Canadian government. (88 words.)
LA Money Guy blogs from It’s Just Money about Money Magazine’s Money Makeover for Ryan and Jen of Colorado Springs. He’s a bit critical of the couple’s situation, so read his entry to find out why. (1,279 words.)
This week, Tom from “D”igital Breakfast analyzed how many notice of defaults (foreclosures) were filed since June 2005 in Bergen County, NJ, and added in last week’s NOD’s from Essex County and broke out the City of Newark and the Borough of Fort Lee. (439 words.)
On Stop Buying Crap, a reader asked if you have a friend or relative whose spending habits drive you bonkers. Without a doubt, Cap has a sister who bought crap. Lots of readers joined in with their own mini-rants. (195 words.)
Wanda, who is well-heeled and everything, comments on the issue some like to call the Bank of Mom and Dad. Her point of view is that relying on help from the parental units is not always a bad thing. (427 words.)
The Dividend Guy asks, How much executive compensation is too much? You can react to newspaper headlines, or you can look at the underlying data. TDG suggests looking deeper at the numbers to determine whether compensation is fair. (236 words.)
Jeffrey from Personal Finance Advice wonders if there is any time when it is acceptable to hide money from your spouse. He cites a story in which one individual has a spending habit and is therefore not trusted by the partner. It sounds like therpay is not going well; I hope the couple is able to work out their issues. (283 words.)
David Lorenzo from the Career Intensity Blog writes about assuming personal responsibility. Here’s a quote: ”
Real returns are what you’re left with after inflation takes its toll on your money. Moneywise writes on a blog called The Real Returns which last week presented four investing scenarios and offers calculations to determine which of the four will result in the best performance over time. (454 words.)
About PMI, a blog focusing entirely on private mortgage insurance, takes a look at MGIC’s SingleFile Plan which might be helpful for folks who are looking to buy a house and can’t put the full down payment. (352 words.)
JLP from AllFinancialMatters has revised and perfected his guide for calculating personal rate of return. The tutorial contains snapshots from Excel that will help you create your own calculation. (595 words.)
Want to get jazzed about personal finance? Chances are, if you’re reading the Carnival of Personal Finance, you all ready are. If you need something extra, Financial Reflections is ready to provide. Here are four reasons to get jazzed about personal finance. I’m now two hours into compiling this Carnival, and I have to inform you, now I’m excited. (445 words.)
Mighty Bargain Hunter doesn’t want people to become over-educated. After all, if everyone had PhDs, who would pump his gas? :-) Seriously, MBH talks about the cost of postgraduate (or even undergraduate) education and wants people to evaluate the financial impact of taking classes rather than working. (671 words.)
Financial Options is a blog authored by Tom Hanna. In Tom’s look at the week ahead, Tom presents a rundown of upcoming economic indicators and US Treasury auctions for the week. He also includes a selection of earnings reports that he finds interesting. (936 words.)
If you want to evaluate your financial situation, you have to look at both your cash flow and your account balances. The FireValt Blog presents an explanation for why both financial statements are important and which one may be more important than the other. (251 words.)
Ask Uncle Bill is written by Uncle Bill, unsurprisingly. He fields a question (yes, people ask him things as the blog suggests) about a company that matches its employees’ 401(k) contributions in company stock. Uncle Bill says, watch out. My company splits its employer contribution, with 50% to company stock and 50% to match my contribution instructions. (823 words).
George writes about the Portfolio123 Screener on his blog, Fat Pitch Financials. In a recent entry, he dicusses applying the Magic Formula technique to the software, but is unsure about the results. (645 words.)
Jonathan from MyMoneyBlog addresses the issue of determining how long certain tax records should be kept. This is an important issue for anyone who is (or should be) concerned about being audited by the IRS. Jonathan provides a handy guide covering different types of tax-related records. (331 words.)
Money Crashers takes a look at various types of home improvements. Some add value to your hours when it comes to sell, and some do not. This short guide can help you decide whoch improvements to make before selling a house. (432 words.)
That’s it this week for the Carnival of Personal Finance! You can find out how to participate or host and also view the past and upcoming schedule here at Consumerism Commentary, the distant home for the Carnival of Personal Finance. Next week’s Carnival will be hosted by Blueprint for Financial Prosperity.
Updated January 9, 2018 and originally published April 30, 2006.