Carnival of Financial Planning – Edition #207 – October 21, 2011

Welcome to the October 21, 2011 Edition #207 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

My Journey presents Planning To Travel In Advance Makes a Trip Much More Exciting posted at My Journey to Millions, saying, “There is more to planning a trip then finally booking the airfare and hotel. Financially planning for a trip in advance will absolutely lead to a less stressful situation.”

Consumer Boomer presents Holiday Shopping Will Require Much More Detailed Budgeting posted at Consumer Boomer, saying, “In this economy holiday shopping will require much more detailed budgeting this year.”

Rogan Seager presents Retirement Savings Calculator posted at Retirement Savings Calculator, saying, “Valuable future investment portfolio assets and future investment returns slip through many people’s fingers at the checkout stand every day, because they spend beyond their long-term means.”

frugalwallets presents 3 Things to do Before Creating a Budget posted at Frugal Wallets, saying, “Creating a budget can be difficult if you don’t know where to start so I’ve narrowed it down to three simple things to do before you try and make one.”

Estate Planning

Charles Chua C K presents Easy and Effective Way to Update Your Will posted at All About Living with Life.

Marie@familymoneyvalues.com presents What Will Happen to Your Business? posted at FamilyMoneyValues, saying, “Do you have a succession plan for your business? If your family’s business is a public company, in which the family is a majority shareholder – you probably do have formal succession plans. But what if your business is a sole proprietorship and depends on your unique talents?”

Shawanda Greene presents Should You Leave an Inheritance for Your Children? posted at You Have More Than You Think, saying, “A selfish but important question to ask if you’re at risk of dying with mountains of cash. ”

Financial Planning

Jacob presents I’m Staying With Bank of America…”Are You Crazy?” posted at My Money Blog – Personal Finance and Investing, saying, “There’s been a lot of dissatisfaction recently among Bank of America customers due to the decision to start charging a $5/month debit card fee. This post examines my reasons for actually staying with Bank of America and hopefully helps readers plan their correct course of action for their own bank accounts.”

DJ presents Credit Unions and Banks: What Is the Difference? posted at The Family Wallet, saying, “These differences may not seem that significant, but they may be important if you’re looking for a financial institution.”

Kelly presents Emergency Fund: Are You Prepared for the Unexpected? posted at CreditDonkey.com Tips, saying, “we face the risk of natural and manmade disasters, job loss and medical emergencies every day — yet are we financially prepared?”

Super Saver presents Our Journey To Financial Freedom #4 – Lifestyle and Spending Choices posted at My Wealth Builder, saying, “Here are some of the frugal living choices I made that helped enable retirement in my late forties.”

Larry Russell presents Identity theft protection and prevention posted at Personal Investment Management and Financial Planning, 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. Taking these steps to prevent an occurrence is prudent.”

DJ presents Chore-Based Earnings to Teach Your Children about the Value of Money posted at The Family Wallet, saying, “You can use chore-based earnings to teach your children about the value of money.”

SB presents I Care About Money, Do you? posted at One Cent at a Time, saying, “Do you take good care of your money? Do you value money as one of the most significant existance of your life? Or you go with the minimalist’s approach of making life independent of monetary demands? Are you happy with whatever money you make?”

Frank Knight presents Investment Asset Allocation posted at Retirement 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.”

Flexo presents The Emergency Fund in 1939 posted at Consumerism Commentary, saying, “Looking back at history is pretty awesome, especially when it’s tied to a billionaire and the great depression!”

Financing a Home

The Wealthy Canadian presents Purchasing An Investment or Retirement Property | The Wealthy Canadian posted at The Wealthy Canadian, saying, “This article discusses the prospects of purchasing an investment or retirement property and some of the unforeseen costs that can present themselves.”

Dough Roller presents What Credit Score do You Need to Buy a Home? posted at Dough Roller, saying, “Before you apply for a mortgage, make sure you know where you fall on the FICO score ladder. It could be the difference of tens of thousands of dollars in interest payments.”

Emmie presents 6 Personal Finance Tips from Our Elders posted at Frugal Living, saying, “Current retires enjoy a high rate of home-ownership because they have learnt to squirrel their money away for emergency and future needs. ”

Financing Education

Corey presents How to Land that Job: Playing Hard to Get? posted at 20′s Finances, saying, “Gaining employment can be a difficult thing in this economy. Learn how the advice ‘playing hard to get’ may also apply to securing employment.”

David Leeman presents College Student Money Management, College Student Budgeting posted at Financial Freedom Advantage, saying, “The best college student money management advice starts with learning how to budget money and how to live frugally.”

Marie presents How Grandparents Can Help to Fund College Educations posted at Money Spending Mommy, saying, “There are many ways in which grandparents can help their grandchildren with college costs. Here are some to consider.”

Corey presents Five Things You Should Do With A Pay Raise posted at Money Q&A, saying, “Believe it or not, people in America are still getting pay raises and earning promotions. So, the real question becomes, what should you do with your pay raise?”

Dr. Dean presents Choosing the Right College: A Potential $100+K Mistake? posted at The Millionaire Nurse Blog, saying, “Choosing where you should go to college based on the cost of tuition.”

Health Care

Consumer Boomer presents Common Health Issues Of Baby Boomers posted at Consumer Boomer, saying, “If you are a baby boomer you need to be aware of the top common health issues to watch out for.”

Tanya Yoworski presents Top 9 Health Care Systems in the World posted at Medical Billing, saying, “Without question, improvements can be made.”

Consumer Boomer presents Humana Medicare Plans For Boomers posted at Consumer Boomer, saying, “If you are a baby boomer and are approaching the age for Medicare coverage or are already eligible there is a great deal to consider.”

Income

Kyle Taylor presents Get Paid to Go on a Scavenger Hunt Around Town posted at The Penny Hoarder, saying, “Who doesn’t love the thrill of a scavenger hunt, right? This new cell phone app will literally pay you to go on a hunt around town…”

The Financial Blogger presents Why I just Gave Up $4200 In Annual Income posted at The Financial Blogger, saying, “Why I turned some income down.”

Jason@LiveRealNow presents Why I Hate Payday Loans | Live Real, Now posted at Live Real, Now, saying, “When an advertiser contacts me, my rate sheet says very clealy that I will not take payday loan ads. The reason for that is–in my mind–when I accept an advertiser, I am–in some form–endorsing that company, or at least, I am agreeing that they are a legitimate business and I am helping them conduct that business.”

Gerry Sandis presents 28 Questions To Ask Yourself Before Accepting A Job Offer posted at Resume Mag, saying, “You may have spent the last few weeks, or even months, looking for a job and it can be very tempting to immediately accept the first thing that comes your way. Remember, this is going to be your new career, so you don’t want to be too hasty with your decision. Take your time to evaluate the offer and consider these questions.”

Investing

Investor Junkie presents Preparing Your Portfolio for the End of the Year posted at Investor Junkie, saying, “As the end of the year approaches, it’s time to consider your investment portfolio.”

Dividends4Life presents 7 Stocks Increasing The Compounding Power Of Dividends posted at Dividend Growth Stocks, saying, “Too often we take a short-term approach, to our long-term detriment. There is a reason we don’t see infomercials selling dividend growth investment strategies. For those looking to get rich now, a disciplined approach to investing that focuses on the long-term simply isn’t appealing. if I knew in my 20′s or 30′s what I know now about dividend growth stocks, I would likely be retired now.”

Dividends For The Long Run presents How To Build A Dividend Growth Stock Portfolio posted at Dividends For The Long Run, saying, “The tendency to rush to dividend stocks during hard times would seem to indicate that many investors did not already have a dividend paying “cushion” set up in their brokerage accounts prior market downturns. Therefore, in order to forestall future occurrences of this phenomenon, this article will take a beginner’s approach to building a dividend growth stock portfolio.”

Janet Russell presents The illusion of superior professional mutual fund manager performance posted at Personal Investment Management, 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. 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.”

FMF presents Why Americans Should Focus More on Saving, Less on Investing posted at Free Money Finance, saying, “The investing community spends way too much time focusing on investment return rate and way too little time on simply saving more money. This is a terrible (and sometimes fatal) mistake.”

Ryan presents Betterment Review: Incredibly Simple Investing posted at Outlaw Finance, saying, “How Betterment works and what it costs.”

Barb Friedberg presents Do you check the price of stocks years after you sell? posted at Barbara Friedberg Personal Finance, saying, “Does it matter if you check the stock prices after you sell? Does it make you a better investor. Check out what I think about it and weigh in with your opinions.”

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

DGB presents How I Beat The Market With My Dividend Trades posted at The Dividend Guy Blog, saying, “I share a few investing secrets.”

Dividend Growth Investor presents Five Metrics of Successful Dividend Companies posted at Dividend Growth Investor, saying, “Everybody likes winners. Looking at the history of the most successful dividend stocks, I have been able to identify several traits, which have been strong predictors of performance.”

Mirelle Rowden presents Fixed Income Funds posted at Best Bond Mutual Funds, saying, “Vanguard dominates this low cost United States bond mutual funds marketplace for direct purchase accounts with both low and high minimum deposits.”

Consumer Boomer presents Mutual Funds Explained posted at Consumer Boomer, saying, “Here is a look at what a mutual fund is, how they work and what the advantages of investing in one are.”

Managing Credit and Debt

BIFS presents Check Your Credit Card Statements | Budgeting In the Fun Stuff posted at Budgeting In the Fun Stuff, saying, “An unauthorized charge reinforced the idea that I need to check every, single credit card charge every month though. If I hadn’t, I would have paid for someone else’s $499 fishing pole.”

Lazy Man and Money presents Who Wants $500? posted at Lazy Man and Money, saying, “That’s essentially the question that Chase Cards asked a few months ago. They didn’t word it exactly like that, but instead said that if got their credit card and spent $3000 in 3 months, I’d get the equivalent of $500 in points.”

Paul Vachon presents What Credit Card Law of 2009 Means for Consumers posted at The Frugal Toad, saying, “President Obama signed the Credit CARD Act of 2009 into law May 22, 2009 and ushered in a new era for consumers who use credit cards. Most of the provisions took effect on February 22, 2010 with the remaining provisions taking effect on August 22, 2010.”

Joe Plemon presents Are Your Credit Card Rewards Really Rewarding You? posted at Personal Finance By The Book, saying, “Are you really winning with those Credit Card rewards? I truly hope so, but this post will challenge you to give those rewards a second look.”

Meghan presents What Happens If I Don’t Pay My Credit Cards? posted at CreditDonkey.com Tips, saying, “What happens when you are unable to pay your credit card bills as well as some tips on what you can do now to help avoid that situation.”

Matt presents Debt is Debt. Except When it Isn?t? posted at Living In Financial Excellence, saying, “In my eyes, no matter how sophisticated you are with your debt, you’re still in debt. Debt is debt. Period.”

N.W. Journey presents Secured Debt vs. Unsecured Debt | The Critical Differences posted at Networth Journey, saying, “Get help distinguishing between these two forms of debt.”

Glen Craig presents How to Fix an Error on Your Credit Report posted at Free From Broke, saying, “See how to fix an error on your credit report. Why? Because a credit report error can potentially cost you thousands on a loan and even cause you to be rejected.”

Philip presents What Everybody Ought to Know About New Debit Card Fees posted at PT Money Personal Finance, saying, “What’s behind the fees and what you can do about it.”

Miscellaneous

Marie presents Helpful Tips on What to Do When Your Partner Is Financially Out of Control posted at Money Spending Mommy, saying, “If you think your partner’s spending is out of control, it’s crucial that you discuss it before it’s too late.”

Super Saver presents Billionaires and Millionaires posted at My Wealth Builder, saying, “Politically, a millionaire or billionaire is someone making $200,000 (single) or $250,000 (married).”

The Skilled Investor presents Market Timing Does Not Work posted at Personal Financial 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.”

Craig Ford presents How I Consistently Get Thousands of Dollars of Free Flights Annually posted at Money Help For Christians, saying, “A summary of the strategy I use to earn points and miles for free travel.”

Tripp Danner presents No Load Funds posted at No Load Fund, saying, “There are over 60,000 different mutual fund investment share classes sold worldwide. Some mutual funds and ETFs must be better than others, but which ones are they? How can you tell before the fact?”

Jeri Ford presents Which Current 50,000 Point or Mile Credit Card Sign Up Bonus is the Best? posted at Help Me Travel Cheap, saying, “There are several credit card signup bonuses that offer 50,000 points or miles. Discover the best card for your needs.”

Retirement Planning

Consumer Boomer presents Late Retirement Planning posted at Consumer Boomer, saying, “Here are some tips to help you get started if you are a late retirement planner.”

Chris Holdheide presents How Much Money Do You Need For Retirement posted at stumbleforward.com, saying, “Learn the 5 step process I use to determine how much money you will need to retire the way you want.”

Consumer Boomer presents Early Retirement Lifestyle posted at Consumer Boomer, saying, “Here are some valuable questions you need to ask yourself as you plan to achieve an early retirement.”

Brockton Eaton presents Long Term Investment Strategies posted at Retirement Investment Strategy, saying, “The investment research literature repeatedly demonstrates that a fully diversified, low cost investment strategy is superior.”

FMF presents How Much Money Do You Really Need in Retirement? posted at Free Money Finance, saying, “Here’s a systematic way to know how much you’ll really need for retirement — and how to get there!”

Walter Binkle presents Large Cap Mutual Funds posted at Mutual Funds, saying, “Retirees can save a lot by paying attention to mutual fund expenses. Each of these S & P 500 index funds is among the least costly on the market.”

Mike Holman presents Social Security COLA is 3.6% in 2012 posted at Money Smarts Blog, saying, “Unlike the last two years, 2012 has a SS increase of 3.6%.”

Savings

Mike @ Green Panda presents Which Smartphone is the Best for You? Let’s Compare New Smartphones. posted at Green Panda Treehouse, saying, “Do you have a smartphone?”

Jonathan presents How to Save Money at the Airport posted at Money Mum, saying, “Spending some money at the airport is probably inevitable, but there are steps to take to avoid incurring extreme charges – and save money during your trip.”

Bradson Oakley presents Bond Mutual Funds posted at Best Bond Funds, saying, “Higher bond fund expenses tend to mean lower net returns to individual investors. It is not worth paying higher bond fund fees.”

Madison presents Can You Cut Your Grocery Bill in Half Shopping Only Once a Month? posted at My Dollar Plan, saying, “Can you save time and money by only shopping for groceries once a month?! Read on to find out!”

Ciana Locke presents Market Index Funds posted at Best Index Mutual Funds, saying, “The dominant issue in choosing among passively managed index mutual funds and ETF funds benchmarked against the S & P 500 is that securities industry management and trading fees are all over the map from reasonably low to shockingly high.”

Lisa presents Free Ways to Keep Your Kids Busy posted at Wallet Watcher, saying, “The following will help parents keep their children busy without having to spend hundreds of dollars on the latest technology to keep them happy.”

Stayathome presents How much Life Insurance do I need? posted at stayathomeworker.com, saying, “Choosing a type and amount of life insurance can be an emotional and difficult decision to make. While there is a plethora of available insurance agents to assist you in the process, many are weary of relying on their advice for fear of being “sold” a product they don’t really need. Most insurance agents can assist you in determining how much life insurance coverage is appropriate for your situation. However, ultimately the decision of how much coverage to buy is entirely up to the consumer. Here are some things to consider when deciding how much life insurance coverage is appropriate for you.”

Taxes

SteveR presents The Pitfalls Of Doing Your Own Taxes posted at 2010Taxes, saying, “Doing your own taxes may appear like an easy enough thing to drag off. You just win your W-2 form, make the numbers and you really are great to go. However, there are often more to doing all your taxes than simply simple math, and in many cases which might be hard to do possibly people.”

Finley Merriwether presents Retirement Planning Calculator posted at Retirement Plan Calculator, saying, “Tax-advantaged retirement savings plans give you the opportunity to make investments with deferred taxes in 401k, 403b, 457, Keogh, Simple, or other employer sponsored retirement plans.”

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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