Monday, May 14, 2007

Carnival of Personal Finance #100

Welcome to the Carnival of Personal Finance, C-Note Edition! Yes, this is the one-hundredth Carnival. Think of the hundreds of bloggers who have participated over the past almost two years! The hundreds and thousands of posts! The hundreds and thousands and even millions of dollars we've all earned while reading and writing this stuff when we were supposed to be working at our real jobs! (Since a lot of people didn't submit until late in the week, I actually didn't spend that much of my employer's time putting this carnival together-- it just took up an entire sunny weekend instead.)

If you're visiting for the first time, welcome to My Open Wallet, a light-hearted, irreverent, personal blog about all aspects of money, especially MY money. In other words, it might be entertaining more often than it's useful, but you look like you need to relax, so why don't you subscribe to my feed? Check out my rules and favorite posts in the left sidebar if you're not ready to commit.

This week's Carnival is full of wonderful advice and stories from a wide variety of bloggers-- and yes, there are 100 articles in this carnival! (ok, I had to add a few that hadn't been submitted yet... but it would have been really close even if I hadn't.) I've highlighted some of my favorites, and also tried to flag a few of the newest blogs that contributed. The rest of the posts are organized by topic, in the order they were received. (A couple of submissions were not included, as they were either off-topic, not recent, or had already been in other carnivals.)

100 is a pretty amazing number-- as Wikipedia will teach you, it's very mathematically interesting: it's the sum of the first nine prime numbers, and the sum of the cubes of 1, 2, 3 and 4. And it's an 18-gonal number, whatever that is. 100 is also the number of degrees Celsius at which water boils, the police telephone number in Greece, India and Israel, the record number of points scored in an NBA basketball game, and the number of "Famous Views of Edo" woodblock prints by Hiroshige in one of my favorite art books.
Of course as money is concerned, 100 is the number of sub-units into which most currencies are divided (cents, pence, etc.) and the 100 dollar bill is the largest US currency now in print. And as the ever-quotable Benjamin Franklin once said, "A hundred dollars saved is a hundred dollars earned, and better yet, it has my picture on it." Or something like that.

On to the submissions!

Editor's Choice:

Golbguru from Money, Matters, and More Musings presents Husband, Does Your Wife Know How To Invest? Wife, Does Your Husband Know How To Pay The Bills?, and says, "You can pass on millions of dollars to your surviving spouse (or children) but if you haven’t passed on your financial knowledge to them, those millions of dollars will probably vanish pretty soon. Bottom line: regularly make efforts to communicate our financial knowledge to our partner (or a family member). It's important." A good reminder that information about family finances must be shared.

Lyman from My Wealth Building presents Top 5 Money Leaks in April, a very frank presentation of some money the author wishes he hadn't spent.

David from My Own Millions presents My investments highlight my dual personality, and says, "The difference between my 401k and brokerage account, and how that got me into thinking the importance of diversification." An investor wonders why a down day in the market can seem like both a good thing and a bad thing.

Shannon from Save to Quit doesn't want you to use credit or debit cards, ever! Read her 5 Reasons to Pay with Cash, even if, like me, you prefer to use credit cards for everything. new blog

Jim at Blueprint for Financial Prosperity provides an excellent guide to replacing your driver's license, passport, mortgage, car title and other important documents: How To Replace Destroyed or Lost Important Documents.

Jackie from Saving for Wealth presents Top 5 Ways that Real Estate Can Help You Become a Millionaire, and says, "A discussion of the advantages of real estate investing." Lots of good information here.

Hazzard from Everybody Loves Your Money presents You Know You Shouldn't Buy A House When...., and says, "An ongoing list of reasons you may want to reconsider buying a house. If very many items from the list apply to you, maybe you should work on your financial fundamentals before moving forward." You'll laugh... and you'll cry, because you know there are a lot of people who still buy houses despite these things!

Yowza, this post is like a carnival unto itself. But I think I might have to print it out and hang it on the fridge, as it provides so many good basic tips that are worth being reminded of. So many that I might need a bigger fridge. The Frugality Cheat Sheet: 147 Tiny Tips to Live Healthier, Happier, Greener and Better from the Frugalist.

Plonkee from plonkee money presents starting a business will not make you rich. A not-often-heard theme in the personal finance blogosphere, and somewhat comforting to those of us who don't have an entrepreneurial bone in our bodies.

At Queercents, Paula presents Sleeping With Money: Communication and Control, saying "The big lesson once you’re coupled is that what one partner does with money affects everyone. That is why communication is key..." I also liked her observation that money problems in a relationship might signify larger overall problems that a couple needs to deal with.

Trent Hamm from The Simple Dollar presents 26 Personal Finance Books - Ranked From Best To Worst, and says, "The title says it all. Your Money or Your Life is #1." Trent must never sleep! He's a very productive blogger, AND he's reading a different personal finance book every week for a year! This post recaps the first 6 months' worth of books.

Silicon Valley Blogger from The Digerati Life presents Extreme Makeover: Home Edition Lessons, Pay Taxes On Your Winnings!, which you should definitely read if you've been wanting to appear on a reality TV show!

S. Shugars at Personal Finance Advice wonders: Am I the Only One That Realizes That Having My Groceries Delivered Makes Financial Sense? and says "I have found that having my groceries delivered has saved me far more time and money than I could have ever done by shopping on my own." (They key here is to actually do your ordering from home, so you don't have to set foot in the store!)

Here's the rest of the posts, grouped by category in the order they were received.

General and Miscellaneous Personal Finance

The use of money is all the advantage there is in having it. -- Benjamin Franklin

Careers and Money-Making Tips

It is the working man who is the happy man. It is the idle man who is the miserable man.-- Benjamin Franklin
Relationship Finances

If you would be loved, love, and be loveable. -- Benjamin Franklin

Frugality & Savings Tips

Beware of little expenses. A small leak will sink a great ship. -- Benjamin Franklin


By failing to prepare, you are preparing to fail. -- Benjamin Franklin
Real Estate & Mortgages

A house is not a home unless it contains food and fire for the mind as well as the body. -- Benjamin Franklin


An investment in knowledge always pays the best interest. -- Benjamin Franklin
Credit Cards

Creditors have better memories than debtors. -- Benjamin Franklin
  • Matthew Sevenson at Food for thought, by archangelG presents The price of credit, a look at the cost of using credit cards with high APRs.
  • John Place of presents The #1 Mistake Consumers Make with Credit Cards. I think we get a few extra mistakes beyond #1 too-- all good reminders about the pitfalls that can come with using credit cards.
  • DDL from Make Your Nut presents Advice for New Graduates: Credit and Financing, and says, "I’m writing to those soon-to-be graduates who have little or no credit history, who need to start building a positive credit record while avoiding the quicksand of consumer debt abuse." The good news is that you're allowed to buy your own toilet plunger rather than borrowing one from your parents.
  • FIRE Finance tells you how to Avoid Credit Card Fees and Interest Rate Increases!
  • Jonathan from My Money Blog presents Surprising Truths (and Half-Truths) About Credit Card Debt, and says, "You’ve probably heard that the average American has over $8,000 of credit card debt. It’s been quoted all over the place. But does that single stat accurately explain the whole picture? I dig deeper and find some surprisingly facts." Interesting stats and charts here.
Whew! That's it! If you can't find something in this carnival that will make you $100 richer, you're beyond help.

Next week's Carnival of Personal Finance will be hosted by FIRE Finance. Don't forget to follow the submission guidelines, and make the host's life easier by using the form from the Carnival homepage, adding a comment that summarizes what your article is about, and submitting early so the host has time to assemble the carnival! And remember:
Time is money. -- Benjamin Franklin


Anonymous said...

Wow! Thanks for hosting the 100th edition!

Anonymous said...

wow..that must have taken a lot of time and effort. Very nicely done. Thanks for putting it together and I'm looking forward to the reading.

Anonymous said...

One hundred articles, that's a ton of money advice! With that many submissions there must be something for everyone :) Thanks for hosting!

Anonymous said...

You deserve 100 pats on the back! Thanks for summarizing all the posts.

Anonymous said...

Thanks for hosting!


Anonymous said...

Thanks for the work! And no, I didn't try the diet pills. I'll be holding onto them in case it comes to litigation :(

Anonymous said...

Thanks for hosting. I am hosting the carnival of debt reduction today and thought that was work. Guess that is nothing compared to 100 posts!

Great job.

Anonymous said...

WoW! 100 posts, all with comments, just a terrific job.

Thanks, Madame X!

Anonymous said...

Wow... 100 posts! There's my personal finance reading for the next week (or two). Thanks for including my article. :)

Anonymous said...

Wow! Thanks for hosting! You rock!

Anonymous said...

Thanks for hosting the 100th Carnival!

Anonymous said...

Woo-hooo, the Carnival is awesome. Thanks for hosting!

Anonymous said...

What a fantastic resource, and it must have taken you ages. Has anyone submitted this to Digg yet?

green stocks said...

Fantastic list Madame and thx for spending so much time on it! What a great list of articles...
We all need to "digg" it or "stumble" it so others can enjoy! thanks again

jjoa said...

Congratulations on such a successful carnival, and thanks for hosting! I used to think that blogs about personal finance were plain boring but I'm glad to know there are many of them that are actually quite interesting and entertaining.

Anonymous said...

Wow...this is incredible. I remember I was half-dead with just 55 articles last time. Awesome job.

Also, I am glad you gave some visibility to Benjamin Franklin, I had completely ignored him. Love the quotes.

Anonymous said...

Is this the biggest carnival I've seen in a while? WOWWW!! Awesome job hosting! :D Here's to this milestone!

Anonymous said...

Thanks for putting this together - it must have taken a heck of a lot of time and effort, and is much appreciated!

"If you can't find something in this carnival that will make you $100 richer, you're beyond help."
Hmmm... (*Off she goes to read the carnival and get $100 richer*)

Anonymous said...

Great job Madame X! Thanks for including me in the Editor's choice!

I remember hosting not so long ago and it was a ton of work!

Anonymous said...

That is a huge job you've done. Nice work!

Anonymous said...

Thanks for hosting this beast!

Anonymous said...

Wow! Great job hosting!

PT said...

Congrats on getting #100. Great job! Thanks for your time.

*Tanyetta* said...

wow! 100 articles. i am loving this post! thank you for your time and energy! :)

Anonymous said...

Thanks for hosting! There are a ton of entries! This will definitely take me a couple days to read these...

From now on, I vow to get my posts in to the next week's host much sooner! ;)

Anonymous said...

Bronx Chica...OMG the information is wonderful. Thanks for having the time to post it all! also I'm glad you had a wonderful vacation!

Anonymous said...

Thanks for hosting! Love the Benjamin Franklin quotes, too.

Justin S. Parr said...

Great job, Madame X. You obviously took a lot of time to select and comment upon these 100 entries. Parfait!

Anonymous said...

Doh! I dunno how I missed this. = ( Great job there Madame X!

Anonymous said...

Thanks for a GREAT collection. Made for a nice Sunday morning sipping coffee with my laptop. One note however, I would not link to Nigel Swaby SLC real estate blogger. He does deals with Casey Serin ( and is well known in the RE blog world as not a nice man. for example.

Keep up the good work.

Steve in Ozone Park

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jollibee's history said...

This is definitely a topic thats close to me so Im happy that you wrote about it. Im also happy that you did the subject some justice. Not only do you know a great deal about it, you know how to present in a way that people will want to read more. Im so happy to know someone like you exists on the web.