Welcome to the May 6, 2009 edition of kids and money.
The Smarter Wallet presents Amazon Kindle Review: Electronic Book Reader Pros and Cons posted at The Smarter Wallet, saying, “Is the Amazon Kindle worth buying for the family?”
Silicon Valley Blogger presents Best High Interest Savings Accounts In Online Banking posted at The Digerati Life, saying, “Show your kids how to pick the right savings account.”
Pinyo presents College Students Should Take Responsibility For Their Financial Situation posted at Moolanomy.
Mark Montgomery presents Choosing the Right College Curriculum–How Much Choice Is Right For You? posted at Great College Advice, saying, “College-bound students sometimes believe that all college academic programs are the same. Not so. This post and short video explain a couple of very different alternatives students have in selecting the right college for them.”
KCLau presents Do You Have a Wedding Debt? posted at KCLau’s Money Tips, saying, “Most couples want to begin their married life auspiciously and free from the problems. However, it is not uncommon to hear about married couples who go into debt just to get married. Article explores the reasons.”
Travis presents Money for Time, or Time for Money? | personalwebguide.com posted at Personal Web Guide.
John Russell presents In An Accident? posted at The Low Cost Auto Insurance Guru, saying, “You pay your premiums, but when your car is damaged, you balk because you fear a claim will mean higher insurance rates.”
Sonja Stewart presents How to Recession-Proof Your Family Life | Parenting Squad posted at Parenting Squad.
FIRE Getters presents Why do we get laid off? A complicated corporate work culture …. posted at FIRE Finance.
Jack Schmidt presents 10 Really Fun Things You Can Do Today on the Cheap posted at SectorMatic Money Journal, saying, “Personal Finance | Everything for the Big Spender on a Budget. Now you can live like a fat cat, even if you’re on a money diet.”
Jack Schmidt presents How To Pick A Profitable Mutual Fund.
Patrick @ Cash Money Life presents Upromise Review posted at Cash Money Life, saying, “Earn free money for college savings with rebates from UPromise. The money can be used for college savings, current college expenses, or repaying student loans.”
Patrick @ Military Money presents Financial Planning For Military Families posted at Military Finance Network, saying, “Financial planning tips to help families prepare for emergencies and other life events.”
sherin presents My personal plan for creating investment portfolio for kid posted at THE MONEY MANIAC, saying, “Sharing my personal experience on creating a portfolio for my kid.”
Jack Schmidt presents Sign of the Times: “Going Out Of Business – Eat Fast!”
Jack Schmidt presents Starting Young: Teaching Teens to Save Money.
jim presents Citi Forward Credit Card Review: Rewarding Responsibility posted at Blueprint for Financial Prosperity.
Dan at Everydayfinance presents What I Learnd at the Park – An Easy $400 per Hour! posted at Everyday Finance, saying, “This article highlights a unique and easy way teenage kids can make Hundreds of Dollars per hour this summer!”
Bank Champ presents I Bond Fixed Rate Announcement (May – November 2009) posted at Bank Champ.
Patrick @ Cash Money Life presents How to Decide Whether to Be a Stay at Home Mom or Working Mom posted at Cash Money Life, saying, “These are some factors to consider when deciding between being a stay at home mom or returning to the work force.”
Jack Schmidt presents Home Improvement Loans – Transforming Brick and Mortar.
Jim DeSantis presents Divorce: What To Do About Medical, Life, Homeowners, and Auto Insurance! posted at On Line Tribune | Marriage Matters, saying, “Covering the insurance needs of yourself and your children after a divorce must be considered during pre-divorce settlement negotiations with your soon-to-be ex. This is largely a matter for lawyers but you need to think ahead to protect everyone who depends upon you.”
That concludes this edition. Submit your blog article to the next edition of kids and money using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
I admit I know nearly nothing about Dave Ramsey (I know he’s some sort of “financial guru” that a lot of people follow), but I’ll tell you, in the interest of disseminating information, that he’s holding a town hall meeting tonight about “The economy, your money, and real answers.”
It’s tonight, April 23, at 8 PM ET and 7 PM PT (West Coast delay, what’s new?) – sign up here – Town Hall For Hope with Dave Ramsey (Click the “Attend the Event” yellow button).
Welcome to the April 22, 2009 edition of Kids and Money.
Nate Desmond presents Giveaway: Free TurboTax Online Premier Tax E-Filing posted at Debt-free Scholar.
KCLau presents 5 Ways To Take Charge Of Our Finances posted at KCLau’s Money Tips, saying, “Are we doing the right things when it comes to managing our finances? Ask yourself five questions to know if you’re on the right track.”
Frank Vertin presents Just Buy Index Funds Directly posted at NO LOAD INDEX FUND, saying, “Buying an S&P 500 index fund through an investment counselor can substantially increase your initial purchasing costs and and drive up your annual management expense fees. Unfortunately, the vast majority of individual investors buy mutual funds and ETFs through brokers and investment advisers. Rarely do financial advisors recommend that you buy index funds with low fees. This is because low cost, no load mutual funds do not pay them as well as loaded, high fee mutual funds.”
Larry Russell presents Most Individual Investors Are Poor Personal Portfolio Managers | Personal Investment Management posted at THE SKILLED INVESTOR Blog, saying, “Young investors should learn early about investment efficiency, and they will then know more than most of their parents do about wise investing. Investors more easily understand investment costs that are directly measurable, such as fees deducted on investment statements. However, many investors ignore or are unaware of the opportunity costs of their sub-optimal investment behaviors. Opportunity costs are usually much more difficult to measure directly, but these investment costs can be even higher than more visible investment fees.”
Walter W. Fouse presents 7 Ways to Pick the Best Noload Mutual Funds and ETFs posted at Best No Load Funds, saying, “The vast body of investment research studies show that there really are better approaches to buying and owning mutual funds and ETFs. You do not need to frantically chase fund performance. Performance chasing simply does not work.”
Richard M. Rothschild presents The Top 14 Low Cost Taxable United States Bond Mutual Funds (Low Minimum Deposit) posted at Bond Market Index Funds, saying, “The top 14 low cost taxable US fixed income funds with a $10,000 or lower initial deposit. Low investment management fees are very important with fixed income funds. Simply put, if you pay higher bond mutual fund fees, then these bond management expenses tend just to be a deadweight loss to you. When you pay more in bond mutual fund fees, you are just wasting your money.”
Ralph Jean-Paul presents Building Self-Discipline posted at Potential 2 Success, saying, “The most disciplined business people are usually the most organized, efficient and successful. They are also the people that make the most money. Learn to build self-discipline in your personal and professional life and see the difference it will make.”
Big Cajun Man presents Canadian Personal Finance Blog » Blog Archive » Advice for New Grads? posted at Canadian Personal Finance Blog, saying, “When your kids do finally graduate from college, make sure they keep this in mind.”
Mike Pastore presents Thinking of saving money for your childs college education? IRA or 529a plan? | Mikes Millions.com posted at Mikes Millions.com.
Buck Weber presents Search for Scholarships posted at THE BUCK LIST, saying, “It’s that time of the year again for high school seniors. Testing for the ACT & SAT, filling out the FAFSA, gathering and sending transcripts, college applications and letters of recommendation are all part of the annual hectic last few months of the high school experience.”
Madison presents Summer Jobs for Kids – Ideas for Summer Jobs for Kids posted at Kids and Money.
Verna Morris presents Five Experts Agree: You Need a TIPS ETF In Your Retirement Portfolio posted at ETFdb.
Jim DeSantis presents 3 Reasons That Can Cause Your Family Budget To Fail posted at Free Family Budgeting eBook from On Line Tribune, saying, “Money is the only tool you have to secure your future and the future of your family and to live a good life today. Unless you get spending under control and start treating your household like the goldmine it really is, you are destined to struggle financially for the rest of your life.”
Jeremy Ulmer presents How To Cold Call Effectively: What To Say First posted at Sales Coaching | Business Coaching | Life Coaching, saying, “never too early for kids to start learning some of these skills…to make money…”
Clair Schwan presents Money Management – Making and Retaining Wealth posted at Frugal Living Freedom, saying, “This article provides an overview of basic money management concepts with an eye toward accumulating wealth by being more responsible with it.”
Patrick @ Cash Money Life presents How Much Life Insurance Do You Need? posted at Cash Money Life, saying, “This is a question everyone should ask themselves – particularly if they have a family that relies upon their income.”
Silicon Valley Blogger presents Zecco vs TradeKing: Which Online Stock Brokerage Account To Choose? posted at The Digerati Life, saying, “Help your kids invest early by opening their first account with a solid online broker.”
Summer Munyon presents How To Find The Bottom Of The Real Estate Market posted at Tallahassee Real Estate Blog, saying, “If you want to know the beginning of the next phase of the market turn, just keep an eye on the green line in the graph below. You can visit this graph (updated twice per week) at The Market Bulletin.”
hall monitor presents Two Colts Neck High School students accused of counterfeiting money posted at DetentionSlip.org, saying, “To be filed in the “What NOT to do” column.”
That concludes this edition. Submit your blog article to the next edition of Kids and Money using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
KCLau presents Learn Money Tips playing iMafia posted at KCLau’s Money Tips, saying, “About iMafia, an application for iPhone. How it is connected to real life in terms of personal finance and how to play the game.”
jim presents Teaching Kids About Money: Tessy and Tab Money Manager Kit posted at Blueprint for Financial Prosperity.
Julie Guarnizo presents Teaching Money Management Habits to Children posted at Beef Up Your Piggy, saying, “As a mother of two small children, teaching life lessons about money and personal finance is crucial is raising children.”
Steve Patterson presents ISMagazine.com – Blog – ATM Skimming Leads to 1 Billion in Losses for Consumers posted at ISMagazine.com, saying, “Great story about ATM safety and something to present to your bank to make sure their ATMs are safe.”
Debbie Ducker presents Your Children and Grandchildren Must Learn to Save Money posted at Ducker Promotion Ezine, saying, “Teach your children how to save money at an early age and you will save them a lifetime of heartache.”
Matt Sherberg presents Choosing the Best Debt Solution posted at Debt, saying, “When you have mountains of debt piling up and you have debt collectors waiting at your doorstep, it is time to get off the couch and find a debt solution that will work for you. The right debt solution can help you reduce your debt.”
Silicon Valley Blogger presents College Advantage: Ohio 529 Savings Plan Offers $25 Cash Bonus posted at The Digerati Life, saying, “529 plan for your kids!”
The Smarter Wallet presents Budget Your Money and Control Your Spending Using This Simple System posted at The Smarter Wallet, saying, “Thanks!”
That concludes this edition. Submit your blog article to the next edition of Kids and Money using our carnival submission form.
Past posts and future hosts can be found on our blog carnival index page.
The Bernard Madoff scandal is making the news again today. I haven’t written much about financial scandals, rip-offs, and white collar crime, so now’s as good a time as any, I suppose, to fill you in on a few things.
First off, let’s just say that Bernie Madoff is a jerk. He took people’s money in an elaborate Ponzi scheme and made off with BILLIONS. Gone are the days when MILLIONS of dollars ripped off will make the news circuit!
Madoff simply needs to be tried, sentenced, and forgetten about. “Investors” – you will NEVER get your money back.
I put “investors” in quotes because a lot of those folks weren’t investors. They were rich dreamers who wanted even more money than they already had.
They had an “In” to a supposedly too-good-to-be-true financial “system.”
If it’s “too good to be true,” it’s too good to be true! Run – don’t walk – away from stuff like this.
For as long as man has lived, there have been schemes concocted by shrewd, yet immoral and dispicable, people that seek to separate YOU from your MONEY.
The most famous, of course, was made famous by Italian immigrant, Charles Ponzi. He promised “investors” a 50 percent return on their money in a matter of days and he made good on his promise.
For a while.
He took new investor money and returned it, plus the 50 percent, to the gullible folks who gave Ponzi their money first. The last suckers got the shaft.
Of course, Ponzi went to jail and died poor. Just like Madoff ought to.
There are some lessons to be learned here.
One last thing: There are legal Ponzi schemes, the most notable of which is Social Security. Yes, you read that right. It’s a government-enacted program that is exactly a Ponzi scheme.
The reason that Social Security will go broke is that there are fewer and fewer “new investors” and the old investors want their guaranteed returns.
I’m not making any moral judgements here. In fact, I support Social Security. In its original fomulation, it was to be used as a social safety net that had more new investors than old. As long as that was the case, the system was sound and good.
But now that the demographics have turned upside down (many more collecting nowadays, not as many contributing, relatively speaking), the system is in peril.
Stay tuned for my solution to the Social Securty nightmare in a coming post. And don’t get me started on Medicare! It’s in a much more precarious state than Social Security ever will be, but you don’t hear much about it.
Money isn’t everything. It’s the only thing. Wait. That’s only for football.
Enjoy life. Spend time with your family.