Welcome to the July 15, 2009 edition of kids and money.
Madison presents Summer Jobs for 11 Year Olds – Jobs for 11 Year Olds posted at Kids and Money.
Ishan @ ILoveFreeSoftware presents How to Setup Virtual Fax Machine for Free posted at I Love Free Software, saying, “Having a regular fax machine is expensive. The best alternative is to use Online fax services. However, most of the fax services come with a monthly fee. In this article I explain how to setup your own free online fax service completely free. No registration fee, no monthly fee, no setup charges. Totally Free.”
Yeah, not kids and money per se, but certainly a tip I wanted to pass along. FREE nowadays is a good thing (always has been, I suppose).
Steven Chang presents The Truth About Money – Money Blog – Money Making Tips and Money Management posted at Money Making Tips and Money Management, saying, “I hope this short blog post about wealth getting and preservation will benefit your readers.”
Chris McClelland presents In the long run, college will end up hurting your savings. posted at Lucrative Investing.
Chris McClelland presents The untimely death of celebrities has turned into quite a lucrative business posted at Lucrative Investing.
Jack Schmidt presents 7 Tools For Your Money Belt posted at SectorMatic Money Journal, saying, “SectorMatic Money Site – 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. Laugh all the way to the bank with Jack Schmidt and SectorMatic. It’s for you!”
Ray @ Financial Highway presents Debt Reduction-Financial Planning Guide Step 10 posted at Financial Highway, saying, “Debt Reduction is the first step in building wealth, here are some strategies that can help you reduce your debt.”
Silicon Valley Blogger presents myFICO Score Watch: Equifax Credit Score Monitoring posted at The Digerati Life, saying, “Teach your kids the basics of credit and credit scores.”
Finance Tips 101 presents Tips To Help You Qualify For A Home Mortgage | Finance Tips 101 posted at Finance Tips 101.
Nancy Miller presents The Problems of Implementing ICT in Secondary Education posted at Accredited Online PHD Universities.
josh andreson presents All Boxed Up: Types of Flash Media Packaging posted at Flash Media Packaging.
Another non-kids and money topic, but interesting nonetheless. I use flash media all the time. It’s awesome. And really cheap. I can see a day really soon where ALL your day-to-day data (including OS) is on a stick.
KCLau presents MoneyWise Interview on BFM 89.9 – The Business Station posted at KCLau’s Money Tips, saying, “was chatting with Patrick Michael on Business FM (BFM) 89.90 – The Business Station yesterday regarding some money lessons we can learn from watching the Transformers movies”
Save Money presents Revising and Simplifying My Budget (One More Time) posted at How I Save Money.net.
Chris McClelland presents Estate lessons we can all learn from Michael Jackson posted at Lucrative Investing.
It’s amazing to me how MJ’s demise has inspired all sorts of stories. I hate to think what’s going to happen to me, my stuff, and my family when I die, EVEN with a will. I guess there’s one good thing about not being rich and/or famous — nobody’s probably going to contest my will or challenge any trusts I set up…small victories…
Chris McClelland presents Your credit score may soon lead to targeted Google ads posted at Lucrative Investing.
Dan presents Kids Birthday Parties – Better at Home or Out for Theme Party? | My Dad Blog posted at My Dad Blog, saying, “This article considers the pros/cons of home birthday parties vs. themed parties like Bounce-U and Little Gym with topics spanning costs, convenience and fun.”
This is timely for me personally. I have a soon-to-be 2-year-old…last year, we had a party at a park. Happened to be the hottest day of the year (110)! It would have been nice to be able to go inside and get out of the heat. But then again, our house is too small to contain more than 6-8 people (somewhat comfortably), so our giant gathering would have had to take turns. I really like the idea of the Party Palooza type places.
Daniel Drew presents Line of Credit posted at My Business is doing well should I choose an SBA Loan?, saying, “”Lines of credit are generally paid off by opting for a permanent source of financing. In case of commercial property line of credit, the sale of the old property may help repay the line of credit””
Ray @ Financial Highway presents Canadian Discount Brokerage Review and Comparison for TFSA and RRSP posted at Financial Highway, saying, “A look at Canadian Discount Brokers”
Brian McKay presents Flexible Spending Account (FSA) for Dependent Care posted at MonitorBankRates.com, saying, “A dependent care flexible spending Account (FSA) allows you to save money pretax to pay for dependent care in the process also lowering your taxable income.”
Silicon Valley Blogger presents Balance Transfer Credit Card Tips, Facts and Traps posted at The Digerati Life, saying, “One important area of finance to teach kids about? The use of credit cards. Here is some coverage on balance transfer cards to teach your kids.”
Credit nowadays is a necessity. But I wish it wasn’t. So easy to spend beyond your means.
The Smarter Wallet presents Best Security Software For Your Computer posted at The Smarter Wallet, saying, “We all need to protect our computers, even the ones used by our families. Here’s how to do it!”
Banker Saver presents How Safe Is Your Retirement Fund? posted at Banker Saver, saying, “Retirement is a ways away for your kids, but it’s something they should understand early on. Investing as early as possible pays off.”
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.
To the creator of PennyJobs, Curtis, the answer — clearly — is an emphatic YES!!!
What About Greedy Bankers?
Some like to point out that Wall Street creating the easy home securities like ARM and sub-prime loans, but realize that Wall Street would not have been able to create these things if Alan wouldn’t have allowed interest rates to drop well below market rates.
Not sure I agree with the statement (it seems like a circular argument), but I, too, place a lot of blame on Greenspan and the Federal Reserve. And my opinion isn’t influenced, in this case, by the fact that I think the Fed does too much. It’s based on the idea that one of the, if not THE, central functions of the Federal Reserve is to regulate banks and other financial institutions.
The Fed failed in its oversight of the banks; in fact, they encouraged risky behavior. I think they were of the mind that all of these “derivatives” were reducing — if not eliminating — the risk naturally inherent in risk-based securities. After all, mortgages, for example, have inherent risks and their priced almost solely according to this risk (in the form of the interest rate).
A simple economic lesson: Higher interest rate = Higher perceived risk
As interest rates dropped to historically low numbers, the market clearly perceived lower risk. But people still lose jobs, hurricanes still happen, blight still occurs.
As the bubble inflated, more and more people pumped more and more air into it. As a bubble expands, it becomes more likely to burst.
And BURST it did.
It would be interesting to know what the money multiplier was during the early 2000s versus other 5- or 10-year periods. I would guess that it was rather high.
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.
In a sign that the credit markets are still seized up, General Growth files for bankruptcy protection.
General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history.
They are the owners of over 200 malls. They filed for restructuring (Chapter 11), so hopefully their creditors will renegotiate with them. Said General Growth Chief Executive Adam Metz:
While we have worked tirelessly in the past several months to address our maturing debts, the collapse of the credit markets has made it impossible for us to refinance maturing debt outside of Chapter 11.
Or else my wife will have to start shopping at – here it comes! – strip malls!