Home » Uncategorized » Carnival of Financial Planning – Edition #157

Carnival of Financial Planning – Edition #157

September 10, 2010

Posted by Roshawn Watson under Uncategorized

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By: Roshawn Watson

It is my honor to welcome you to the September 10, 2010 Edition #157 of the Carnival of Financial Planning! It is hard to believe that this is my second time hosting the carnival. It travels every week and always includes several “gems of posts.” If you are unfamiliar with the carnival, it “takes the long-term view of personal financial planning for individuals and families.” It focuses “on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.”

This edition is arranged by subject heading, so that you can browse efficiently.
Enjoy!

Today’s carnival was edited by The Skilled Investor

Budgeting and Economics

Roshawn Watson presents Is Extreme Frugality For You? posted at Watson Inc, saying, “Austerity can help you maximize your dollars, but is extreme frugality for you?”

Joe Plemon presents Five Steps Toward Automating Your Way to Wealth posted at Personal Finance By The Book, saying, “Will power won’t get the job done, but automating your finances will. This post tells how.”

The Skilled Investor presents Save More posted at Personal Financial Strategy, saying, “Budgeting and self-control in consumption is far more important than clever investing. Expenditure control and budgeting works, while “clever” investing usually is counter-productive.”

Roshawn Watson presents Economists Blame ME for the Slow Recovery posted at Watson Inc, saying, “We are responsible with our money, yet instead of admiration (or even understanding), these efforts garner contempt as the frugal once again get the blame for dismal economic activity.”

Kim Staudenraus presents What Is A Budget? posted at Life & Finances, saying, “The word “budget” is not a controlling word, it is not a word meaning “you can’t have.” It is a word meaning you have freedom and are in control.”

Khaleef @ KNS Financial presents Should You Really Pay for These Things? posted at Faithful With A Few, saying, “Here is a list of items that you are most likely paying for, that you probably can get for free! A lot of great tips in the comments as well!”

Control your Cash presents Meet your role model, Part II of III posted at Control Your Cash, saying, “Brandon proves that you don’t have to be born rich to avoid being poor. He buys assets, he sells (or never incurs) liabilities, and he lives better than plenty of people who make 3 times as much.”

Wise Bread presents Be In Charge Of Your Finances posted at Wisebread.

Joe Plemon presents How to Successfully Budget For an Irregular Income posted at Personal Finance By The Book, saying, “You CAN budget for an irregular income by following these five simple steps.”

Mike @ Green Panda presents The $7.27 Mistake Plus Ways To Avoid It posted at Green Panda Treehouse, saying, “How to make the most out of your money when going out.”

MoneyNing presents Money Mistakes That (Mostly) Women Make posted at Money Ning, saying, “Women are prone to make certain money mistakes more often than others.”

Financial Planning

Sustainable Life Blog presents Prioritizing Goals? posted at Sustainable Life Blog, saying, “Wondering where to turn when starting to attack debt? Here’s a quick guide on how to help you prioritize your goals.”

jim presents Review Your Credit Reports Every Year posted at Identity Theft Wall.

Ryan @ MFN presents What to Do With an Enlistment Bonus posted at The Military Wallet, saying, “What should you use a large cash bonus for? Pay down debt, invest, spend?”

Larry Russell presents Best No Load Mutual Funds posted at Best Index Mutual Funds, saying, “Superior past performance has simply not been shown to be a reliable predictor of superior future performance. However, low costs can lead you to the best mutual funds.

Frank Knight presents Roth IRA Conversion Financial Planning Software posted at My Financial
Freedom Plan, saying, “Whether to invest in a Roth IRA or Roth 401k versus their traditional retirement account alternatives is one of the most complex personal financial decisions. Roth accounts do not make sense financially for most people. They are a good deal, for a minority, but you need to do the analysis.”

Dividend Tree presents Building Core Competency for Long Term Survival posted at Dividend Tree, saying, “whether it is running a business or individuals investment portfolio, it is important to build a core competency for long term sustainability. In my case, I focus on good quality companies that consistently pay or have potential to pay growing dividends over time.

The Dough Roller presents The Best Airline Miles Credit Cards posted at The Dough Roller, saying, “A list of airline credit cards that can pay for your next vacation.”

Frank Knight presents Asset Allocation Strategy posted at Best Personal Financial Planning Software, saying, “When you are already there and invested in an asset class, you are following a passive asset allocation strategy. Tactical asset allocation strategy advocates suggest that you can anticipate the crowd, but flow-of-funds studies show that almost all tactical asset allocation fund flows are late money flows that chase performance after valuations have already moved.”

Financing a Home

Jeff Rose, CFP presents Things to Consider When Taking Out a Second Mortgage posted at Jeff Rose, saying, “A second mortgage is not the answer for everyone so read about all the factors before making your final decision.”

FMF presents How to Improve Your Chances of Getting a Mortgage posted at Free Money Finance, saying, “Getting a home loan these days can be difficult — even for qualified buyers. This post gives some tips for improving your borrowing potential.”

Jeff Rose, CFP presents Before Purchasing a Bigger Home Consider These Steps or Go Broke posted at Jeff Rose, saying, “If you are considering buying a bigger home you need to read this article before you start the process. Here are some things that you need to consider.”

Writers Coin presents Thank God for Stupid People posted at The Writer’s Coin, saying, “Stupid people are great because they give us faith that we can accomplish things we might think are impossible.”

Financing Education

mike presents 8 Things You Need to Know About Withdrawing Money From Your RESP Account posted at Mike, saying, “RESP withdrawal rules for Canadians.”

Ryan @ CML presents Where to Open a Coverdell ESA Plan posted at Cash Money Life, saying, “Coverdell ESAs are a college savings account that have great tax advantages. This info can help you find a great place to open your Coverdell ESA.”

Income

Daniel M. Wood presents How to Sell to a Customer Again and Again posted at Looking to Business, saying, “Selling to a customer that you have sold to before makes a lot of sense; It is easier, as they know what is expected and they are often open to spending more money, as you have already proved your worth, meaning you can sell more products or sign them up for a longer period of time.”

MoneyNing presents 15 Ways to Earn Extra Money posted at Money Ning, saying, “There are lots of ways to make more money. Here are 15 to start you off.”

Investing

FMF presents Understanding Investment Risks posted at Free Money Finance, saying, “Managing risk is a big (and important) parts of any investment strategy. This post details the types of risk every investor needs to consider.”

freefrombroke presents Why Invest In Mutual Funds posted at Free From Broke, saying, “Mutual fund are a huge piece of many portfolios. See why most should invest in mutual funds.”

Silicon Valley Blogger presents How To Invest Online Using The Peter Lynch Strategy posted at The Digerati Life, saying, “Investing like one of the greats!”

MoneyNing presents Second Recession: Don’t Let Fear Take Over posted at Money Ning, saying, “Whatever the circumstances, allowing fear to creep in will only make the situation worst.”

Super Saver presents Choosing Data Analysis over Emotion posted at My Wealth Builder, saying, “Typically, I like discipline of relying on the data.”

Tomas Escent presents Stock Trader Automation posted at Nerds on Wall Street

Praveen presents Caveat Emptor: If An Investment or Opportunity Appears Too Good To Be True, Beware! posted at My Simple Trading System, saying, “Beware of investment opportunities that seem to be too good to be true.”

The Skilled Investor presents Stock Market Timing posted at Personal Investment Management, saying, “Always stay invested to earn risk premiums. You must have your money invested and at risk to get risk premium returns. Jumping out and in or “timing the markets” doesn’t work.”

The Financial Blogger presents Best 50 Canadian Dividend Stocks posted at The Financial Blogger, saying, “With the plethora of dividend stocks out there, here are the best 50 canadian dividend stock picks.”

Dividend Tree presents Dividend Investing and Businesses with Moat posted at Dividend Tree, saying, “In general, companies with moats in their business are very good dividend growth providers. However, the opposite may not be true.”

Frank Knight presents Muni Bond Financial Software, posted at Best Financial Planning Software, saying, “Municipal bond investments and your state and federal marginal income tax rates: Some investors hold municipal bonds in an attempt to reduce their tax burden. This article discusses the relationships between tax-exempt municipal bonds, bond market returns, marginal tax rates, and investment asset tax location.”

Sam presents Hedge Funds in the News. What Are Hedge Funds. How Do Hedge Funds Make Money posted at Surfer Sam and Friends, saying, “Hedge Funds in the News What Are Hedge Funds And How Do Hedge Funds Make Money? Hedge funds pools of capital for investment. They are a prime example of capitalism in the 21st century. They reward risk takers and they exist to make rich people richer. Is it possible to beat the investment markets? Finance professors say no. Hedge fund managers say yes.”

Dividends4Life presents 7 Dividend Stocks Sending More Cash To Shareholders posted at Dividends Value, saying, “If your goal is to accumulate wealth for a comfortable retirement, then there is no risk-free path. Throughout time every angle has been tried and failed. What appears to be a safe investment in a federally insured CD or money market , may not even be covering inflation. Growth stocks don’t always grow. The astute conservative investor turns to solid dividend paying stocks with a track record of growing their dividends each year.

Tushar Mathur presents Can’t Control the Markets? Try controlling the Costs posted at Everything Finance, saying, “The financial markets are prone to unpredictable periods of turbulence. That can make investing feel a bit like a roller-coaster ride. The disappointing results may have left you feeling concerned over your financial future. You’re not alone.”

Mike Piper presents Do You Have an Investment Backup Plan? posted at The Oblivious Investor, saying, “What’s your plan in case your investments don’t perform as well as you’d hoped?”

Frank Vertin presents Top Index Funds posted at Index Mutual Funds, saying, “Top ten no load index funds that track the Standard and Poors 500 composite index in terms of lowest costs.

Managing Debt

Jeff Rose, CFP presents Consumer Credit Counseling FAQ: What You Need to Know posted at Jeff
Rose, saying, “What you need to know about consumer credit counseling.”

Roshawn Watson presents Why Is Debt Really Decreasing? posted at Watson Inc, saying, “In the first quarter of 2008, our debt to disposable income peaked at a staggering 131%. This means for every dollar we earned, we spent $1.31. As of March, our debt as a share of our annual income is presently 122%. If you think this change indicates that we have collectively been so scarred by the “Great Recession” that we are now behaving fiscally responsible, think again. There is a surprising and sad reason why our debt has gone down. Hint, it has nothing to do with frugality.”

David presents A Comparision of 0 % Balance Transfer Cards From Citi posted at Credit Card Offers IQ.

Learn Save Invest presents 5 Steps To Debt Reduction posted at Learn Save Invest, saying, “Here are 5 tips you need to master in order to reduce your debts.”

Big Cajun Man presents Found Money Trap posted at Canadian Personal Finance Blog, saying, “Found money should go on debt no matter what!”

The Smarter Wallet presents Are Debt Counseling Services The Way To Debt Relief? posted at The Smarter Wallet, saying, “On debt counseling services.”

Before You Invest presents 0% Balance Transfer Credit Cards – September 2010 posted at Before You Invest…, saying, “Do you have high credit card balances with equally high interest? Maybe you should look in to one of those zero percent balance transfer offers, but before you do there are always pros and cons. In this post we take a look at some of the benefits and drawbacks of transferring your high interest balances.”
Silicon Valley Blogger presents Use Airline Credit Cards & Frequent Flyer Programs For Frugal Travel posted at The Digerati Life, saying, “A look at travel and airline credit cards as a way to get better deals when traveling.”

assdfil presents Chase Travel Card Showdown ? Continental OnePass vs Sapphire Preferred posted at NerdWallet Blog – Credit Card Watch, saying, “A few months back, Chase launched a new travel rewards card called the Continental OnePass Plus, which pays out OnePass frequent flyer miles for every dollar spent. Not content to leave it at that however, we decided to pit it up against another one of Chase’s all-star travel cards – the Sapphire Preferred.”

Miscellaneous

PT presents Free Online Checking Accounts posted at Prime Time Money, saying, “Make sure you don’t pay for checking. Review this list of the best free online (and offline) checking accounts.”

Carlos Sera presents A Tale of Love; Financial Tales posted at Financial Tales, saying, “I wanted to release a tale that conveyed some old fashioned wisdom, especially for those readers that are young. My daughter just came back from spending a few months on an island where every day an older man would put up a sign that said “Wisdom 5 Cents” and sit in his lawn chair waiting for customers. I found it curious and of course it started me thinking about what it is that I’m doing with financial tales. So here’s my 5 cents on what is important about money and relationships. If anyone has any good mini-stories to add I would love to post them.”

Mike @ Green Panda presents Stop Waiting For The Big Idea posted at Green Panda Treehouse, saying, “Just thinking about the next big thing might just be a complete waste of time. Take that step towards your goals.”

nissim ziv presents What Are Your Weaknesses? Interview Questions and Best Answers posted at Job Interview Guide, saying, “No doubt, that this question fears most job applicants, as the interviewer actually ask YOU to give him a reason – why s/he should NOT hire you for the job…”

Pasadena Financial Planner presents Vanguard’s Investment Performance posted at Top Mutual Funds, saying, “Compares Vanguard’s actively managed mutual funds and Vanguard’s passively managed index mutual funds. Vanguard investors should read and understand this study.”

Big Cajun Man presents Trust Only in Fire posted at Canadian Personal Finance Blog, saying, “What is the best way to dispose of sensitive material at home?”

Retirement Planning

FMF presents Withdrawing Money During Retirement posted at Free Money Finance, saying, “Details on when and how to withdraw your retirement savings.”

Jessica Bosari presents How to Get More Money Every Month from Social Security | billeater.com posted at Billeater, saying, “Social Security Application Withdrawal – Options for retirees.”

Consumer Boomer presents Distribution Rules For Roth IRA posted at Consumer Boomer, saying, “The Roth IRA is an excellent tool to invest and save money toward retirement. Find out what unique benefits a Roth IRA offers.”

Super Saver presents Don’t Count on Housing for Building Wealth posted at My Wealth Builder, saying, “The appreciation of home values is expected to be significantly lower.”

Jules Wells presents Retirement Planning Calculator–Retirement Savings Software, posted at Retirement
Income Planning, saying, “This article helps you understand the trade-offs between traditional and Roth tax-advantaged retirement plan contributions, including Roth 401k and IRA retirement plans. It helps with the 2010 Roth conversion decision.”

Tom @ Canadian Finance Blog presents Can You Afford Retirement care? posted at The Canadian Finance Blog, saying, “Wondering if you can afford retirement care? Many Canadians are reasonably well set for retirement, but may not be ready for worst case scenarios.

Neal Frankle presents IRA FAQ ? All the Answers You Need In Plain English posted at Wealth Pilgrim, saying, “You need to know IRA FAQ PDQ (Pretty Darn Quick). I say this because we have to take responsibility for our own financial future. Nobody else is going to do it for us.”

Larry Russell presents Roth IRA Conversion posted at Personal Financial Planning Software, saying, “Trying to decide about a traditional IRA to Roth IRA conversion without first having a comprehensive lifetime financial plan in place makes absolutely no sense. Without such a plan, you cannot figure out whether or not you are likely to achieve the tax savings in retirement that would warrant paying higher taxes now.”

Risk Management and Insurance

Consumer Boomer presents Term Life Quotes posted at Consumer Boomer, saying, “When you purchase an insurance policy it is important to know exactly what you are buying. Here is some important information about Term Life quotes.”

Big Cajun Man presents Self Insured Company Disability Plans posted at Canadian Personal Finance Blog, saying, “Sometimes insurance is not as safe as you might think (in Canada at least)”

Jules Wells presents Investment Risk Tolerance Questionnaire Financial Planning Software, posted at

Financial Answers saying, “There is a way for you to get a much better assessment of your risk tolerance than you would from a simple conservative versus aggressive financial industry investor questionnaire.”

Susan Howe presents 15 Things You Didn’t Know Your Car And Home Insurance Policies Cover posted at
Car Policies Articles, saying, “Your insurance policies probably include coverage you’ve never thought about. In order for you to get the most value from your policy, check out these things that may already be included for your premium payments.”

Savings

Super Saver presents A Simple Way to Build Wealth posted at My Wealth Builder, saying, “One of my favorite personal finance principles is ‘Pay yourself first.'”

Ryan @ MFN presents Military Savings Deposit Program (SDP) posted at The Military Wallet, saying, “The Savings Deposit Program is a government sponsored savings account that guarantees 10% return on interest for deployed military members.”

KCLau presents Are You Rich in Internal Assets? posted at KCLau’s Money Tips, saying, “pay attention to the internal assets

Taxes

Madison DuPaix presents Do You Have to Pay Taxes on Unemployment? posted at My Dollar Plan, saying, “Here’s great info on something you may not even be considering if you lose your job – taxes on unemployment.”

Ken presents Understanding Tax Deductions posted at Spruce Up Your Finances, saying, “Discusses how it is different from a tax credit, the types of tax deductions, and the biggest mistakes people make when claiming the tax deduction.”

Financial Freedom presents Roth IRA Financial Software, posted at Financial Freedom, saying, “The Roth tax optimization puzzle for asset conversions, as well as for annual Roth contributions during working years, is one of the most complex decisions that the ridiculously complex US taxation and retirement planning system forces upon individuals.”

Intelligent Speculator presents Please do not let the Bush tax cuts expire posted at Intelligent Speculator, saying, “It may be easier to take the popular position and have the Bush tax cuts expire, but I personally think otherwise.”

That concludes this edition. Submit your blog article to the next edition of Carnival of Financial Planning using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
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