Carnival of Financial Planning – Money Management Edition #231

Welcome to the April 6, 2012 Edition #231 of the Carnival of Financial Planning.

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

Enjoy!

The Skilled Investor, Editor

Budgeting and Economics

Wayne presents Purpose of Budgeting posted at Young Family Finance, saying, “Are you left wondering why you should budget? Find out the purpose of budgeting and whether it’s important for you.

David presents Wired Capital Markets posted at Wall Street History , 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.”

Financial Planning

Amanda L Grossman presents The Groundhog Day Financial Lesson I am Doomed to Live Over and Over Again posted at Frugal Confessions, saying, “Have you ever had a lesson in life appear over and over again, and you feel as though you are doomed to attempt to learn it for the rest of your foreseeable future.

Justin presents Know the Common Mistakes with Your Personal Finances posted at Budget Snob, saying, “Many people make the same financial mistakes. Here are several of them and the best way to avoid them.

TSI presents 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. ”

Jen presents 6 Free Financial Resources & Tools to Improve Your Finances posted at Master the Art of Saving, saying, “If youre interested in monitoring or improving your finances, then you probably dont want to be spending money to do it. That would just be silly and…

Jeffrey presents Money Rules Book Review: A Quick Guide to Finances posted at Money Spruce, saying, “I recently checked out the new book Money Rules: The Simple Path to Lifelong Security by Jean Chatzky. It’s modeled much like Michael Pollans Food Rules with many one-page rules that give short but useful tidbits of information.

Teacher Man presents Why Credit Cards Are Dangerous For Students posted at My University Money, saying, “I am on the record as having said that I believe students should sign up for credit cards. There are many reasons for this, but chief amongst them are the facts that you need a credit card to do anything online, and you also should have one in order to begin building a credit rating.

Walter presents Best Bond Mutual Fund posted at Fixed Income Fund Investing, saying, “The bond investment fund market is no place for an individual investor to try to beat the market and get higher returns through attempts at clever fixed income investing. Even professional bond market money managers do not beat the bond market.”

FG presents A Tale of Two Brothers posted at Financial God, saying, “One of my favourite books is ‘Economics in One Lesson’, by Henry Hazlitt. If you have not yet read this yet, I highly recommend that you go and purchase a copy. The book has also been made available online for free through the Mises Institute and its generous donors.

Janet presents Watch Out for These Top 12 Canadian Scams posted at Credit, Eh, saying, “Scams surround us every day, and many of them are so clever and high-tech that it seems truly legitimate.

PFP presents Investment Asset Tax Location posted at Pasadena Financial Planner , saying, ” As you move your cash, bond, and stock financial assets into lower cost, more broadly diversified investment mutual funds and/or ETFs, you should also consider how to “locate” your investment asset allocation with respect to more optimal taxation. ”

Daisy presents Taking Care of Clothes posted at Add Vodka, saying, “I somehow doubt its a secret that I have a large wardrobe. I love clothes, and they really are to blame for my spending problems in the first place. A world without fashion would be a world without fun.

Hank presents My Favorite Financial Tools That I Use posted at Money Q&A, saying, “From time to time, Im asked about which financial products I personally use and which I would recommend to others. I have finally listed many of the financial resources, firms, services, and products that I personally use and recommend.

Kyle presents Enter to Win our April iPad Mania Giveaway! posted at The Penny Hoarder, saying, “The Penny Hoarder has teamed up with Bay Area Mommy a number of other bloggers to bring you this amazing chance to win the two hottest tablets in the market today! Grand Prize: The New iPad or $550 cash Second Prize: Kindle Fire or $200 cash!

Jim presents NetSpend & Prepaid Debit Cards You Didnt Apply For posted at Bargaineering, saying, “The other day an old college friend of mine emailed me about a strange thing he received in the mail. One of those prepaid debit card companies apparently sent him a debit card that he never remembered applying for. When he called the company up, they said that the card wasnt activated and wouldnt be activated until he called in and deposited money on the card.

Income

Jeremy presents Starting A Side Business posted at Modest Money, saying, “Have you ever considered starting a side business to earn some extra money. Read Jeremy’s story of what led him to start his own side business.

Linsey presents How Do I Work from Home with No Skills? posted at 1099 Mom, saying, “Many women want to work from home — need to work from home — but they hold no official schooling or don’t feel qualified to have a professional career from their domicile. But this is not the same as not “being skilled. We all have skills. The key is to finding out what they are, then determining which are marketable!

Insurance and Risk

Anisha Sekar presents Data Breaches and Identity Theft: How Much You Could Lose posted at NerdWallet, saying, “Thankfully, in the case of a data breach like Global Payments, your bank or credit union will shoulder most of the burden of keeping you safe, letting you know if your account is compromised and issuing a new card if necessary. But its the hacks you dont hear about that can get you. Well break down some of the ways to keep your data safe, and tell you what your liability is if your identity is stolen.

Sarah presents 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.”

Investing

Darwin presents Pairs Trade: Real Examples and Profit Potential posted at Darwin’s Money, saying, “Here’s a way to invest and profit with zero dollars out of pocket! Amazing but true, you just have to pick the right direction!

Colin Williams presents FOFA What Australian Consumers Of Financial Advice Need To Know posted at humble savers, saying, “Australian legislation ‘Future of Financial Advice’ (FOFA) has created large divisions in the financial community but what does it mean for the consumer? We get some answers.

William presents Mutual Fund Performance posted at No Load Funds , saying, ” Screen out inferior mutual fund performance — but only after using other ETF and mutual fund selection criteria. Superior or even average mutual fund performance in the past simply does not predict similar fund performance in the future. ”

Evan presents If You Can’t Beat Them, Join Them posted at My Journey to Millions, saying, “If you believe that the rich get richer, why not just invest in them instead of against them? I am talking about investing with Billionaires! How? By following the Billionaire Index.

Jack Parker presents Top NoLoad Funds posted at Preferred Investment Funds, saying, “Some mutual funds and ETFs must be better than others, but which ones are they? How can you tell before the fact?”

Luke presents Treasuries head south as US stocks end best Q1 in more than a decade posted at Learn Bonds, saying, “All you need to know about today’s bond market action with commentary on top moving stocks as well.

Larry presents Personal risk tolerance posted at Independent Fee Only Financial Planner , saying, ” Individual investors with different levels of investment risk tolerance for financial risks tend to be more satisfied with risk management strategies, which are better aligned with their financial risk and return profile. ”

Managing Debt

Corey presents Benefits of an Adjustable Rate Mortgage posted at Steadfast Finances, saying, “Have you ever considered an adjustable rate mortgage? Find out the benefits and whether it is right for you.

Jeremy Waller presents Do You Have What It Takes To Be Debt Free And Financially Successful? posted at Personal Finance Whiz, saying, “*No. You probably dont. You see theres a reason that the majority of people are in debt. Theres a reason why the average amount of credit card debt per household is $15,956. Theres a reason why the average American consumer has a total of 13 credit obligations on record at a credit bureau.

Sean presents 5 Tips to Help You Become Debt Free posted at Free Snatcher, saying, “Eliminating your debt is the first step to becoming Financially free. Here are 5 steps to painlessly become debt free. Thanks for your consideration.

A Blinkin presents I Don’t Want To Be Debt Free posted at Funancials, saying, “Did you do a double-take when you read this title? Considering a lot of my readers are personal finance bloggers, Im guessing yes; especially since the majority of personal finance bloggers see debt as an unnecessary evil.

Corey presents How to Save Money in Your 20s posted at 20s Finances, saying, “Have you ever felt like it is hard to save money as a young adult? While I have already talked about why it is difficult for young adults to save money, it doesn’t mean it is impossible. If you are in college and wondering how to put money aside, saving money may not even be a question because of the massive amounts of college debt that you are facing.

Real Estate

Shaun presents Should Families Buy a House or Rent an Apartment: Why Home Equity is Overrated posted at Smart Family Finance, saying, “Every time you assume your homes market value as the equity you command you are overestimating your net worth.

FamilyMoneyValues presents Real Estate Business Opportunities posted at Family Money Values, saying, “Have you ever wished for a way to dip your toes into the real estate arena without totaling committing your body and soul to it? There may be a few ways to do that…

Retirement

FMF presents Is Early Semi Retirement Really All That Great? posted at Free Money Finance, saying, “Early retirement seems to be all the rage these days. Bloggers talk about it as the holy grail of personal finance and many of them have the goal of retiring early at 40, 45 or 50 years old. As one of the few who have already jumped into the waters of early semi retirement I can see the attractions it holds for many. I can also speak from experience on some of the downsides of taking an early retirement. While it does hold some definite attractions, it isn’t all butterflies and unicorns.

PITR presents Real Estate Investing Is Back On the Table posted at Passive Income To Retire, saying, “Find out what makes real estate so attractive to investors and why there will always be a demand for rental properties.

Franklin presents Traditional IRA Versus Roth IRA Contributions posted at Better 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.”

Glen presents Opening a Roth IRA for a Child ? Help Your Child Get Ahead in Retirement posted at Parenting Family Money , saying, “Opening a Roth IRA for a child is a great way to get them started investing as well as starting them saving for retirement. There are other great reasons as well.

Glen Craig presents Withdrawing Money From a Roth IRA: How Does It Work and When Can I Do It? posted at Free From Broke , saying, “A Roth IRA is a great retirement tool. But a question that comes up is how to go about withdrawing money from a Roth IRA? See how withdrawing money woks and when you’re able to.

Princess P presents Securing Your Financial Future posted at Portfolio Princess, saying, “Make sure you are taking the time to learn how to plan for your finances in the future. Open a savings account and put away 10 percent as a minimum.

Whitney presents Retirement Worksheets posted at Retirement Saving Plans, 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.”

Young presents What the Baby Boomers can teach us about saving for retirement posted at Youngandthrifty, saying, “We see stories in the news every day about how the Baby Boomer wave is hitting retirement age, and many are finding themselves caught unprepared. But why? The BMO Retirement Institute reports boomers over the age of 55 are not serious about planning for retirement.

Bob presents 401k Hardship Distributions: What you need to know posted at ChristianPF, saying, “Hopefully you don’t know what hardship distributions and hopefully you will never need to know. But if you do…

Savings

Paul Vachon presents Estate Planning Basics – What You Need to Know posted at The Frugal Toad, saying, “Have you ever thought about what would happen if you became incapacitated or died? What would happen to your home and other assets? Do you have a will and does your spouse know what your final wishes are? These are very difficult questions for most of us to talk about but think about how difficult these questions would be if your family was left to deal with them alone.

TSI presents 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. ”

Taxes

Cash Flow Mantra presents My Experience as a Prosper Borrower posted at Cash Flow Mantra, saying, “I used Prosper to finance a loan to pay a large tax bill, and I found the process effortless. Here is my experience thus far:

YFS presents An in-depth view on Roth vs. Traditional IRA posted at Your Finances Simplified, saying, “Since the conception of the Individual Retirement Arrangement IRA in 1974 from the Employment Retirement Income Security Act ERISA, it has helped thousands of individuals to save money for a comfortable retirement. Over the years, the types of IRAs

Monroe presents Evaluating Roth IRA Conversions posted at Do-It-Yourself Financial Planning , saying, ” This article could help you to make a more informed decision about your family’s Roth investment strategy. Key to you making a better decision about your lifetime Roth account contribution and asset conversion strategy is the need for a sophisticated financial planning software tool. ”

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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