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Welcome to the March 2, 2012 Edition #226 of the Carnival of Financial Planning.
The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus 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!
The Skilled Investor, Editor
Budgeting and Economics
Cash Flow Mantra presents Working on Improving Monthly Cash Flow posted at Cash Flow Mantra , saying, ?It took me a while to realize the importance of cash flow, but now that I am trying to focus on this aspect of personal finance, I feel that I am beginning to turn the corner and will see marked improvements over the next several years. ?
Justin presents How to Keep Track of Your Bills posted at Budget Snob , saying, ?A recent telecom survey stated that the average household now gets about 11 bills month. These bills include basic utilities, internet, cable services, and loan payments. Keeping track of all of these bills can be overwhelming for some families.?
David presents An Illustrated History of Wired Capital Markets posted at History of Wall Street , saying, ? Looking into the workings of modern securities markets is like looking under the hood of a Prius hybrid car. There are so many complex and obscure parts it?s hard to discern what?s going on. History repeats and informs in market technologies. From the days when front-running involved actual running to the ?Victorian Internet era? brought on by telegraphy, we can learn a great deal from looking back at a simpler era. ?
Sandy presents Get Out of Debt in 2012: Cutting the Fat posted at Yes, I Am Cheap , saying, ?Think back to the past two weeks. Where have you spent money from your entertainment or miscellaneous jar? Do you see the latest movies every week? Are you buying new clothes from the clearance sales? Lots and lots of mocha-choca-latta-ya-ya ( I had to slip that Lady Marmalade reference in there)? How often are you eating out??
Estate Planning
Nick presents Oh, man, I can?t even die right! posted at Step Away from the Mall , saying, ?Anyhow, up until recently I thought ?dying? would be something I couldn?t screw up. I mean, there?s really only one result, right? But then I saw a post over at Yahoo! finance about how to die the right way and I scored a paltry 25% complete. According to the post, there are 8 steps to dying right.?
Financial Planning
Dannielle presents Ten Common Financial Problems posted at Odd Cents , saying, ?If you think that you are alone with your financial problems, think again. This article lists ten common financial problems that are popular.?
Frank?presents Best Index Fund posted at Individual Investment Strategies, saying, ?Short-term mutual fund trading is a zero sum game played against other very well informed mutual fund traders and other securities market traders. On average, higher mutual fund turnover is far more likely to result in lower investment fund performance ? instead of superior risk-adjusted performance.?
Larry presents?ID theft protection posted at Personal Financial Planner, saying, ?As a threat to your financial security, you should take the potential for identity theft very seriously. Identity theft sometimes entails a loss of your money, but whether or not you lose money, it can take a very large amount of your time to rectify.?
Franklin presents Traditional IRA and 401k Versus Roth IRA and Roth 401k Contributions posted at Retirement Planning , saying, ? Many taxpayers puzzle over whether to contribute to traditional versus Roth tax-advantaged retirement plans. For most people, contributions to traditional tax-advantaged plans will probably provide a higher net present value over their lifetimes. ?
Financing a Home
Paul Vachon presents The Hidden Costs of Owning a Home posted at The Frugal Toad , saying, ?Owning a home has long been the American Dream. Has the American Dream become the American Nightmare? The Federal Reserve states that $7 Trillion, or more than half of home equity has been lost since 2006. The real costs or owning a home are much higher than you think.?
Shaun presents Smart Family Finance Mortgage Basics: Lifetime and Reverse Mortgages Explained posted at Smart Family Finance , saying, ?While a lifetime mortgage is not right for everyone, it can be a viable alternative for retirees who want a larger fixed income for no additional monthly expense.?
Money Cone presents Why I Chose a 30 Year Mortgage Even Though I Could Pay It Off in 15 Years posted at Money Cone , saying, ?Having lived debt-free, it would?ve made perfect sense to pay off the mortgage as soon as possible via a 15 year loan. But after careful consideration, I decided, I?ll choose a 30 year loan. Call me crazy, but hear me out.?
Financing Education
Craig Ford presents The Unpopular Truth About the Dangers of a Dave Ramsey Only Approach to Christian Finances posted at Money Help For Christians, saying, ?Christians should consider paying attention to other financial authors as well.?
PFP presents Financial planning reading list posted at Independent Financial Planner , saying, ? When I work with clients to develop their customized lifetime financial and investment plans, they often ask what they should read to improve their financial literacy. ?
Charles Chua C K presents 10 Wise Quotes About Money posted at All About Living with Life.
YFS presents How To Get Rid of Your Student Loans Without Paying or Ruining Your Credit! posted at Your Finances Simplified , saying, ?The only way I know that you can get rid of student loans is through the process of Permanent Disability Discharge, in which individuals get assistance in paying off the amount of their education loan. However, there is a strict guideline as to who can qualify??
Income
Jester presents Make the Most of Your Pay Check posted at The Ultimate Juggle , saying, ?If you want to make your paycheck stretch further every month, you don?t have to play the lottery and hope for the best. There are plenty of everyday things you can do!?
Suba presents I Want To Quit My Job: Leaving Work Without Burning Bridges posted at Broke Professionals , saying, ?The day I finally decided to quit my job was one of the most exhilarating ? and terrifying. Here?s what I learned about giving two weeks notice.?
Investing
Dividend Growth Investor presents Does entry price matter to dividend investors? posted at Dividend Growth Investor, saying, ?The reason for the lost decade in stocks is that many otherwise quality companies were overvalued in the early 2000s. For example Johnson & Johnson (JNJ) was trading at 29.30 times earnings in early 2000, whereas McDonald?s (MCD) traded at 26.90 times earnings. Even some of the best dividend stocks are not worth paying more than 20 times forward earnings.?
Marc Ryan presents Vanguard verdict: Canadian actively-managed mutual funds under perform indexes posted at IndependentInvestor.info, saying, ?Every so often another study comes out casting a critical eye on the performance of the mutual fund industry, and Canada is no exception. The last study by Morningstar gave Canada a failing grade for mutual fund expense levels. Now Vanguard has published its own study, which finds that Canadian mutual funds have underperformed the indexes.?
Investor Junkie presents Is Buying a Franchise a Good Idea? posted at Investor Junkie , saying, ?It is important to understand the pros and cons of buying a franchise.?
Teacher Man presents The Challenges Of Writing An eBook posted at My University Money , saying, ?I reported about a month ago that I was pushing off from shore and beginning my quest to pen an eBook worthy of your collective attention. I believe I have made some great progress along the way, and learned many lessons, but I must admit that it has not come easily. Many financial bloggers have recently released eBooks and most have claimed it was pretty difficult ? now I understand why.?
Janet presents Investment?manager performance posted at Personal Investment Manager, saying, ?The effort to find those few supposedly superior money managers willing to sell their services sufficiently cheaply is a costly, time consuming, and futile, ?Where?s Waldo?,? searching exercise for the individual investor.?
PITR presents Investing Without Investment Experience posted at Passive Income To Retire , saying, ?Investing your money can be one of the best ways to generate a passive income, depending on the type of investment which you choose to make. Many people believe that they will need to have significant experience in investing in order to generate a profit as an investor, but this is not necessarily the case.?
Tushar presents Could You Invest in a Business? posted at Start Investing Money , saying, ?When we think about investments we often think about stocks, shares and different forms of bank accounts. But what about investing in a business? Could this prove to be one of the best ways to invest your money for a good return in the future? What type of business should you invest in??
Luke presents Greek, China, and Europe News Prevents Stocks From Rising posted at Learn Bonds , saying, ?US markets retreated on Wednesday as markets remain skeptical about Greece?s ability to stick to tough new measures imposed by EU leaders.?
Frank Pinter presents?No Load Bond Funds posted at Lowest Cost Bond Funds, saying, ?Investment research overwhelmingly shows that lower cost fixed income funds tend to yield higher bond investing returns.?
FMF presents Are Dividend Stocks Good Investments? posted at Free Money Finance , saying, ?Here?s a piece from the Wall Street Journal that can be summarized as follows: Bonds (and other forms of income-generating investments) are yielding very low rates. As a result, Americans are plowing a ton of money in high-dividend stocks and mutual funds. While doing this can result in a better yield for those needing income, it also comes with extra risks (mainly, the underlying assets can lost their value.) In other words, a dividend-paying stock isn?t the same thing as a bond ? in many different ways.?
Managing Credit and Debt
Mike presents When Does An Annual Fee Credit Card Make Sense? posted at Rewards Cards Canada , saying, ?Annual fee credit cards typically have the best benefits and they can save you money on interest payments or help you earn more rewards points.?
Mike presents Use A Rewards Credit Card To Help Plan Your Wedding posted at Rewards Cards USA , saying, ?One way to save money on your honeymoon is to pay for your wedding with a rewards credit card ? but you don?t want to run up a huge credit card bill.?
Glen Craig presents Four Places Not to Use Your Credit Card posted at Free From Broke , saying, ?Credit cards can be a great tool but there are some places you should just not use them. See four situations where you shouldn?t use your credit card.?
Miranda @ Financial Highway presents How to Improve Credit Score posted at Financial Highway , saying, ?More and more, your credit score is being used to make judgments about your ability to handle your finances. If a low score seems to indicate that you are irresponsible, it will be difficult for you to take advantage of the best offers and loan terms in the world of finances. If your poor credit score is holding you back, here are some things you can do to boost your financial reputation. ?
MR presents Blaming Your Credit Card Debt On Your Spouse posted at Money Reasons , saying, ?Do you blame your credit card problems on your spouse? Are you sure they are really the problem? My friend thought so too, but it was really him??
Jeremy Waller presents How to Deal With Creditors When You Can?t Pay posted at Personal Finance Whiz , saying, ?Despite the harsh lessons that were taught to us by the Great Recession, it seems that we haven?t quite gotten the message about the dangers of overleveraging!?
Liana presents How can stay at home parents get credit cards? posted at Card Hub , saying, ?Can a stay-at-home spouses still build credit under their own name since the Federal Reserve?s new rules went into effect? Not to worry, there are still several options available for building and maintaining your credit score!?
Miscellaneous
Jason presents Pros and Cons of Online Banks posted at Work Save Live , saying, ?What is an Online Bank? An online bank is much of what it sounds like. It is a bank in most terms that we classify the ?normal? banks that you access and utilize online.?
DJL presents Financial Nerds Gone Wild ? Global Markets in Distress posted at Nerds on Wall Street , saying, ? Stock markets are almost perfectly transparent, with full information available to all, and the best electronic clearing and settlement in history. These technologies were omitted in building the skyscraper of cards (?house of cards? seems too mild) out of collateralized debt obligations (CDOs), credit default swaps (CDSs), synthetic collateralized debt obligations (SCDOs), and the rest. ?
A Blinkin presents Fat Wallet Tuesday posted at Funancials , saying, ?Happy Mardi Gras to all! For those who aren?t familiar with this raging holiday, Mardi Gras is french for Fat Tuesday. Excluding the exchange of beads, there is a lesson to be learned here! Fat Tuesday refers to the practice of the last night of eating richer before the ritual fasting of Lent.?
Dana presents The Best Tips for Automating Your Finances posted at Not Made of Money , saying, ?The most common area for people to struggle in their lives is with their finances. Remembering to pay bills on time, putting paychecks in the bank and keeping everything running smoothly can be impossible with the responsibilities present in everyday life. Unordered finances lead to bounced check fees, overdraft fees, late fees and other problems?
TSI presents Where?s Waldo? ? The illusion of superior professional mutual fund manager performance. posted at Skilled Investor Blog , saying, ? If investment mutual fund managers were truly skilled at beating the market, then you would expect mutual fund manager performance prowess to persist over time. Unfortunately, the evidence indicates that superior past professional performance among mutual fund managers tends not to persist. Past superior mutual fund performance is simply not a predictor of future superior mutual fund performance. ?
Ashley presents How Does Your ?Money Style? Affect Your Life posted at Money Talks Coaching , saying, ?What is your money style? According to Wife.org there are 3 basic money styles; hoarder, avoider, or splurger. If you dont know what your money style is you can take the quiz over on Wife.org. I dont even need to take the quiz. I know Im a hoarder. What are you? Think about your money style?
Kyle presents How to Save More Money & Play the Lottery for Free posted at The Penny Hoarder , saying, ?My significant other and I rarely have disagreements over our finances, but the one spending habit that we disagree on is whether to play the lottery. I know it?s only a few bucks a week, but it irks me to throw money at what I believe is a waste.?
Wayne presents Creative Ways to Save on Your Wedding posted at Young Family Finance , saying, ?Need creative ways to save money on your wedding? Here are a few ways that everyone needs to know as they prepare for their wedding day.?
Crystal presents Our Meeting with a Tax Lawyer posted at Budgeting in the Fun Stuff , saying, ?As I have mentioned, Mr. BFS and I really didn?t know how we were going to proceed tax-wise now. So we scheduled a one-on-one meeting with a tax lawyer.?
Retirement Planning
Echo presents What?s Your Findependence Day? posted at Boomer & Echo , saying, ?Findependence Day is a fictional personal finance story following the lives of a young debt-ridden couple?s long journey to financial independence.?
Daniel presents The Ideal Amount of Savings at Age 30 posted at Sweating the Big Stuff , saying, ?I would like to live comfortably in retirement. Just how much do I need to save by age 30 to never have to save another penny for retirement??
MMD presents Is It Time to Change Up My Retirement Portfolio? posted at MyMoneyDesign , saying, ?With the current economic prosperity, my retirement portfolio is almost back up to pre-Recession levels. Is it time to change my portfolio to a safer asset allocation and lock into my earnings while I can??
FMF presents How to Pick a Great Retirement Spot posted at Free Money Finance , saying, ?Retirement Planning US News lists 10 tips for selecting an ideal retirement spot as follows: Affordable housing Lower taxes Better weather Recreation and culture Job or volunteer opportunities Proximity to healthcare Convenient transportation Amenities for seniors Near family and friends Stay close to home?
Whitney?presents Retirement Savings?Worksheets posted at Retirement Savings, saying, ?While personal wealth should measure current financial investments and other salable assets, it should also measure your ability to sustain your household budget, build up your investment portfolio, and weather potential financial risk and misfortune across your lifetime.?
Ryan presents Avoid These Investments that Don?t Keep Pace with Inflation posted at Early Retirement Investments , saying, ?If you invest in investments that don?t keep pace with inflation, you are investing in a vehicle that is a money loser than a money winner!?
Risk Management and Insurance
Sarah presents Lifetime trade-offs between investment portfolio risk and investment returns posted at Do-It-Yourself Financial Planning , saying, ? When making personal finance and retirement planning decisions, individuals must confront the dilemma that, historically, more conservative portfolio investments have yielded substantially lower investment returns than the returns that riskier investments have delivered. With either lower or higher risk-adjusted market return strategies, you simply cannot have your financial cake and you eat it too. ?
John Bartal presents Why do I need a private disability insurance plan; wouldn?t Social Security cover me? posted at Insurance Providers, saying, ?While Social Security does offer disabled people, and their families, benefits, it can be a long process before you are able to claim disability through Social Security. More than that, even if you are able to get the disability benefits early, they still do not go into effect for at least six months.?
Savings
Miss T. presents How to Make Your Own Compost posted at Prairie Eco Thrifter , saying, ?Compost is possibly the most efficient and useful way of disposing of household waste; nearly 40% of this waste is compostable. Compost is then be used on the garden as an organic and valuable fertilizer and soil improver. If this same waste goes into landfill, it becomes toxic and gives off greenhouse gases. Make use of this wonderful garden asset like us by learning how to make your own compost.?
Amanda L Grossman presents A Frugal Date for Long Distance and Near Distance Couples posted at Frugal Confessions. , saying, ?Most of my relationship with Paul has been long distance. We met in Japan in our 20s, fell madly in love, and spent the next several years traversing the globe?
TSI presents Personal earnings, expenditures, and savings determine wealth posted at The Skilled Investor , saying, ? How much you earn, spend, budget, and save are by far the most dominant determinants of your long-term financial well-being. Self-control in your financial decision-making regarding budgeting and consumption is far more important than clever investing. ?
FIRE Finance presents Smart Refrigeration Lowers Electricity Bill posted at FIRE Finance , saying, ?Tips on smart refrigeration will help you to cut down your electricity bill ??
Steve presents 9 Ways to Make Savings Automatic posted at Brip Blap , saying, ?How can you make saving a habit? It?s a trick question ? you don?t have to make it a habit, you have to make it automatic. If you make your savings automatic, you never have to work on developing the habit. The habit will grow naturally once you see how easy it is.?
Boomer presents How To Save Money On Groceries posted at Boomer & Echo , saying, ?I?m determined to save money on groceries by cutting at least 25% off our monthly grocery bill: Here?s how we?ll do it:?
Taxes
Super Saver presents Where?s My Refund? posted at My Wealth Builder, saying, ?Despite getting a refund this year, I have not filed and therefore know why I haven?t received a refund. However, for many that have filed, their refunds have been delayed.?
Paul Tabbet presents?Retirement?Software posted at Tax Planning Worksheets, saying, ?Retirement planning software should automate the development of lifetime projections that incorporate tax laws and rules associated with tax-advantaged retirement investment incentive programs such as traditional IRA, Roth, 401k, 403b, SEP, Keogh, and other retirement plans.?
John presents Do You Have to Pay Taxes on Your Rewards? posted at Wallet Blog , saying, ?2012 tax season has arrived, and with it, the big question that Citi brought forward when it issued 1099?s to its customers ? Are rewards and incentives taxable or not??
Jeffrey presents Tax Hack: Use Premium Features of Turbo Tax For Free and Save posted at Money Spruce , saying, ?Turbo Tax has many premium features that you can use for free while calculating your refund. Follow these steps to use Turbo Tax without paying a thing.?
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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