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Carnival of Financial Planning – Thanksgiving Day Edition

Find VERIPLAN:   Do-It-Yourself Lifetime and Retirement Financial Planning Software

Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs

Carnival of Financial Planning – Edition #212 – November 25, 2011

Welcome to the November 25, 2011 Edition #212 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.


The Skilled Investor, Editor

Budgeting and Economics

DJ presents Ten Tips For Teaching Kids about Money posted at The Family Wallet, saying, “Here are ten ways you may want to try to teach your kids about money.”

Lisa presents Financial Independence: Your Personal Finance Goal | posted at Thriftability, saying, “If you’ve been considering how your family will ever become financially independent, this process may indeed begin with the budget. Budgeting, and your financial goals are a very powerful part of living responsibly, and providing your self and your family with a comfortable way of life.”

Paul Vachon presents Finance for Dummies – CPI posted at The Frugal Toad, saying, “The Consumer Price Index is a measure of the average change in the price of a basket of consumer goods and services. 1982-1984 is used as the base and equals 100. There are different versions of the CPI, for instance CPI-U includes food and energy”

Justin presents Advantages of Credit Unions posted at Money is the root…of all things GOOD!, saying, “The benefits extended by a credit union are simply untouchable by banks because they aim to serve their members, rather than return profits to shareholders. Simple math tells us that reinvesting your profits into the business will yield more financial advantages for the account holders.”

Jason P. presents Envelope System: Budgeting Best Practices posted at One Money Design, saying, “Closer look at envelope system and when it works best and when it might be more challenging to use.”

Eric J. Nisall presents How Can Consumer Confidence Surveys Be Taken As Seriously As They Are? posted at DollarVersity, saying, “One of the biggest economic indicators is controlled by surveying random people. The question is, do these people even have an understanding of the economy?”

Lazy Man and Money presents Palmer’s Planners: Finances Made Simple posted at Lazy Man and Money, saying, “Palmer’s Planners is a set of financial planners covering topics such as general money planning, getting out of debt, and preparing for a baby. I had a chance to look at a few, and here are couple of thoughts on a few of the products:”

Jonathan presents Keeping Warm on a Budget posted at Money Mum, saying, “If you live in a place where the weather gets chilly, you know that keeping warm can be a challenge if you’re trying to stick with a budget. There are plenty of easy, inexpensive ways to fend off the cold and save money, so consider some of these ideas the next time you need to warm up:”

N.W. Journey presents Budget, Budget Who’s Got the Budget? posted at Networth Journey, saying, “A budget may benefit you and take you to a place of financial security you never imagined”

Aloysa presents Why I Don’t Want To Die In Wal-Mart posted at My Broken Coin, saying, “Find out how a shopping addict can forego an abundance of stuff enhanced by early opening hours and seemingly great discounts.”

Kay Lynn presents Do You Have a Plan for Charitable Giving? posted at Bucksome Boomer, saying, “o get me through the holiday season without going broke or guilty, every year my husband and I sit and make a charitable plan. We decide which charities will get our money that year and we stick with it. Here are the factors we consider:”

Estate Planning

Echo presents 11 Steps To Financial Freedom: Create Or Update Your Will posted at Boomer & Echo, saying, “Every adult who owns assets and has a spouse or children should have a will. An accurate and up-to-date will is the only way to ensure your assets will be distributed the way you want them to be.”

Financial Planning

Jon Elder presents 10 Steps I?m Taking to Become a Millionaire posted at Free Money Wisdom, saying, “Let’s dig in, here are ten specific decisions I’ve made or plan on making to become a millionaire and retire early:”

Ramsay presents What to look for when hiring a financial advisor posted at Wealth Management, saying, “When looking for a financial advisor to work with, be sure they are an independent. Independent advisors have the flexibility to offer their clients the things they need.”

SteveR presents Top Ten IPhone Apps to Manage Your Money posted at Debt Consolidation, saying, “There different types of financial apps to suit your needs and best of all, many of them are free.”

Corey presents My Financial Goals posted at 20′s Finances, saying, “Creating financial goals help ensure that you are saving.”

Hank presents 7 Ways Not To Go Into Debt This Christmas posted at Money Q&A, saying, “Things are rough this year for many families across the country, but that doesn’t mean that you should add to your debt to make up for it this holiday season.”

Miss T. presents How Are Billionaires Different than Millionaires posted at Prairie Eco Thrifter, saying, “What are the differences between a millionaire and a billionaire? Here is what I found – based on interviews with mega millionaires and billionaires by Forbes and The Business Insiders take on Robert Jorden’s book “How They Did It”.”

Marjorie presents 8 Things to Know About Gift Cards this Holiday Season posted at CardHub.com, saying, “There are a few things you can count on every year during the holidays: time off from school; an overweight, bearded out-of-towner breaking into numerous houses in the neighborhood via chimney; eating a bit too much; and, of course, gift cards. Unfortunately, for most of us the holidays are also about penny pinching and making our funds go as far as possible, so understanding the gift card market and finding ways to save are therefore imperative.”

Jon the Saver presents Money Tips from 49 Personal Finance Bloggers posted at Free Money Wisdom, saying, “In my quest for knowledge, I contacted 49 of the top finance blogs on the web and asked one simple question: What is your #1 personal finance tip?”

Kevin presents 7 Wealth Building Strategies posted at Invest It Wisely, saying, “In my last post in this series, I introduced “The Richest Man in Babylon” by George Samuel Clason and talked about how to get started on the path to wealth. Today, I’m going to continue my book review and discuss seven wealth building strategies to help you pad your wallet and build your wealth.”

D.J. presents Talking to Your Family about Your Finances posted at The Family Wallet, saying, “Your children will remember what they learn when they come alongside their parents to help with the finances. After all, how your family manages its money affects every family member.”

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.”

Dough Roller presents Get A Totally Free Credit Score from Credit Sesame posted at Dough Roller, saying, “Checking your credit score can save you thousands of dollars in interest payments before applying for a big line of credit. Know it, fix it, then go after credit.”

Michael presents No Job is Truly Secure posted at Begging To Retire, saying, “I just lost a job I had no idea I could or would lose. Needless to say, my financial future took a big hit but I did have a back-up plan.”

Glen Craig presents The Three Best Financial Moves You Can Make for Your Child posted at Free From Broke, saying, “You have the power to start your children off on a road to financial freedom. See the three best financial moves you can make for your child.”

SB presents Personal Finance, the basic principle posted at One Cent at a Time, saying, “We read articles on saving money, investing, frugal living everyday. These are important, no doubt, but it’s also important to remind our self on the basic pillars of personal finance. What it is and what it constitute? Explained the 6 different aspects of personal finance.”

Financing a Home

BIFS presents Persistence is the Key to Everything Money | Budgeting In the Fun Stuff posted at Budgeting In the Fun Stuff, saying, “The key part to this post is – be persistent when it comes to your money. Be stubborn. Be politely aggressive. Because no one cares about your finances more than you do. It’s a lesson I’ve learned a hundred times, but it is worth repeating.”

Kevin McKee presents The Hidden Costs of Buying a House posted at Thousandaire, saying, “Every now and then, I look at houses for sale and think about buying one. When comparing figures it looks like a better rate than my current rent, but you have to consider the hidden costs.”

Financing Education

YFS presents How to Save For A Child’s Higher Education posted at Your Finances Simplified, saying, “YFS provides some tips for saving for a child’s higher education that could effectively leave you with some breathing room when enrollment time finally comes!”

Lina Zussino presents Canada Education Savings Grant and your child’s education posted at Baby on a Budget, saying, “Education is high on my list of priority to provide for my child, the question is how am I going to start planning or how much should I be planning for? Some parents may suggest that their child pays for their own education, which will teach them more about money”


Gerry Sandis presents Don’t Give Your Resume a Christmas Break posted at Resume Mag, saying, “Whether employed and looking to make a change in your career, or unemployed and looking for a job, the weeks between Thanksgiving and New Year’s is probably one of the most opportune times to look for a job, for many different reasons.”

Beating Broke presents I Quit My Job: Recovering posted at Beating Broke, saying, “Im recovering. From the high of quitting my job. From the flu. From stressing entirely too much over money. From a lot of things. Such a major life change is bound to require some recovery period, and I am confident that I’ll come out the other side.”

Darwin presents 6 Shocking Reasons Companies Announce HUGE Layoffs Years in Advance posted at Darwin’s Money, saying, “Have you ever wondered by companies make HUGE layoff announcements years in advance? Here are the 6 shocking reasons why.”

Mr. Money Smarts presents Looking For A Job? Don’t Forget The Tax Deductions! posted at Smart On Money, saying, “If you’ve spent some time and effort — and money — on your job search this year, you might be eligible for a few tax breaks. Indeed, many of the expenses that you are likely to incur during a job search are tax-deductible.”

The Financial Blogger presents Niche Site Duel Challenge posted at The Financial Blogger, saying, “How I’m increasing my income through niche sites.”

Darwin presents Income Disparity is Actually Good. Here’s Why posted at Darwin’s Money, saying, “With all the outrage from the Occupy movement, you’d think income disparity is a bad thing. Well, it’s not and here are the reasons why.”


DGB presents The Ultimate Bulletproof Investing Technique When The Market Goes Bust posted at The Dividend Guy Blog, saying, “How you can protect your money and investments.”

Intelligent Speculator presents Dividend Investing Vs. Annuities Part 3 – Mentality Shift posted at Intelligent Speculator, saying, “The discussion of both investment options continues.”

Madison presents Cost Basis Reporting: Preparing for 2012 posted at My Dollar Plan, saying, “Let’s take a look at what is going on with cost basis reporting, what the brokers have to do, and most importantly what we have to do to prepare for 2012.”

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.”

YFS presents What Is Asset Allocation and Why Is It Important? posted at Your Finances Simplified, saying, “YFS provides details as to why asset allocation is important. He also gives a brief overview of some common investment choices.”

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.”

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.”

Dividends4Life presents 17 Stocks Building Wealth Through Higher Dividends posted at Dividend Growth Stocks, saying, “Some traditionalist would say your home is your greatest wealth building asset. I would argue it is not. Others would say your income is your greatest wealth building asset. Thought there is a lot of truth to the statement, it is still not your greatest wealth building asset. So, what is your greatest wealth building asset? Everyone is born with it.”

Managing Credit and Debt

Investor Junkie presents Could Your Business Handle Another Recession? posted at Investor Junkie, saying, “It doesn’t hurt to be ready for the next economic setback. It’s always a good idea to shore up your business finances, and be prepared for whatever might come your way. So, as you try to avoid falling into panic, here are some things to consider:”

J.R. Weber presents Chase Freedom Rewards Cards: Freedom $200 Cash Back Vs. Freedom $100 posted at Smart Balance Transfers, saying, “Consumers comparing rewards cards who also have credit card debt are wise to look past headline bonus offers and find a card that offers rewards and value.”

Marie presents Spent Too Much Over the Holidays? Ways to Earn Extra Cash posted at Money Spending Mommy, saying, “After the holidays, we’re often left with a debt hangover that’s hard to shake. We might even find ourselves struggling just to make the minimum payments on our debt, never mind paying extra to eliminate it faster. The best thing we can do is try to find ways to earn extra money to put toward those debts so we can put them behind us. Here are some ways to accomplish that.”

Tim @ Faith and Finance presents 4 Money Myths – Tips Against Breaking the Bank posted at Faith and Finance, saying, “Before you start shopping around, spending your entire grocery budget on great bargains, or buying paint and wallpaper from the clearance aisle to ‘Do It Yourself’, discover why these 4 money myths should be debunked once and for all.”

Justin presents What Is the Difference Between Good Debt and Bad Debt? posted at Money Is the Root, saying, “Most people assume that any type of debt is bad and that the ultimate goal should be to have no debt at all. However, not all debt is bad. As a matter of fact, there are many types of debt that are excellent for your credit and financial well-being.”

Jim presents Average Credit Score by Age` posted at Free By 50, saying, “The CreditKarma site has data they compiled on average credit score trends versus age groups. Here are the numbers.”

Money Cone presents A Curious Thing Happened to My Credit Score When I Took on Some Debt posted at Money Cone, saying, “After taking out a mortgage, I discovered me with the burden of debt is more creditworthy, than my former debt-free self! I don’t care how many PhDs Fair Isaac has, if something eludes common sense, it is just plain wrong. ”

Charles Chua C K presents Can You Choose Wisely Between Savings and Debt Settlement? posted at All About Living with Life.


Craig Ford presents How to Develop Healthy Financial Communication and Financial Oneness in Marriage posted at Money Help For Christians, saying, “5 powerful tips for helping improve your marriage and money.”

Jeri Ford presents The Almost Irresistable Appeal of Amtrak Redemption Options posted at Help Me Travel Cheap, saying, “Discover the cheapest way to take a family train trip on Amtrak.”

101 Centavos presents Career Tip #14 – Right Vs. Wrong posted at 101 Centavos, saying, “I asked this question once of an interview candidate: “When is there a right time to do the wrong thing?” Find out what the ideal answer is and why it doesn’t always apply.”

DanielPacker presents Are Half Day Fridays the Best Perk Ever? posted at Sweating The Big Stuff, saying, “Find out the many benefits of having a half day off every Friday. Do any other perks compare to it?”

Jason presents Rebates Suck posted at Live Real, Now, saying, “Eventually, I found a great deal. I got a much bigger/faster/smarter/nicer laptop for about $375 with tax. There was a sale, a coupon, and a rebate all in play to make that happen. I don’t mind coupons and sales. In fact, I am a fan. Rebates, however, irritate me.”

Lazy Man presents How HP Can Still Succeed with webOS/TouchPad posted at Lazy Man and Money, saying, “At the end of August, HP announced they were discontinuing the production of their TouchPad. This lead me to write an article on how, in hindsight, HP could have succeeded With the TouchPad. Note the past tense on that article. So why am I writing this article today? Ten days ago HP CEO Meg Whitman met with their webOS division of the company.”

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.”

Kyle Taylor presents 7 (More) Weird Things in Your Trash Worth Cash posted at The Penny Hoarder, saying, “In February 2011 we published our original list of “7 Wacky Things in Your Trash Worth Cash.” We thought it was high time we gave the list an update. Here are 7 things we missed the first time…”

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?”

Ashley presents What People Are Searching For posted at Money Talks Coaching, saying, “Let’s take a look at what the world was looking for when they came across my site.”

MaryLou Walston presents I Just Filed Bankruptcy, Now What? | PersonalLoans.org posted at Personal Loans, saying, “Bankruptcy can be a helpless time in a consumer’s life. The stigma attached to bankruptcy is that you lose everything and cannot get credit for 10 or more years. The truth about bankruptcy is a little more consumer-friendly but still pretty intimidating.”

Bill Smith presents Casino Bankruptcies in Sin City posted at FastSwings, saying, “If you’re a Sin City enthusiast like myself, a tiny glimpse into the scandals that ensue behind closed doors on the city strip offer a world of intrigue and entertainment.”

Retirement Planning

Steve R presents What is a Spousal IRA? posted at 2011 Taxes, saying, “Congress created Spousal IRAs so that housewives and househusbands can have an individual retirement account of their own.”

Sunil presents Saving for Retirement IS Rocket Science. Don’t Let Financial Experts Fool You! posted at The Extra Money Blog, saying, “Every “financial expert” has some idea, usually a fixed percentage of your income, of how much YOU should be saving for retirement. Fact of the matter is – only YOU can answer how much YOU should be saving for retirement.”

Super Saver presents My Retirement Transitions posted at My Wealth Builder, saying, “Here are three retirement transtions I have experienced since taking early retirement in 2007.”

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.”

Evan presents Increasing My 401k Contributions to Avoid Leaving Money on the Table posted at My Journey to Millions, saying, “I just realized that the whole number I used to calculate my 401k match was chosen almost 3 years ago! or put differently 2 raises ago…which leads me to the two points of this post…I have been leaving “free” money on the table!”

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.”

Martha Stewart presents 15 Incredible Businessmen Who Refused to Retire posted at onlinemba.com, saying, “For many who reach the top echelons of business, retirement is a time to enjoy the spoils of a life well lived and years of hard work and perseverance. Others, however, take a different approach.”

Risk Management and Insurance

Jonathan presents Frugal Private Health Insurance Comparison posted at Frugal Living, saying, “To make sure that you’re more extensively covered, you might consider buying private health insurance as an investment in your health – viewed this way, rather than as a luxury, it may find a space in your budget after all.”

Super Saver presents Thinking About Earthquake Insurance posted at My Wealth Builder, saying, “With the recent earthquakes in Virginia and Oklahoma, I’ve been considering insuring against this risk.”

Money Beagle presents Insurance Can Be Complicated, But Only If You Let It Be posted at Money Beagle, saying, “Don’t get overwhelmed by insurance choices. Look at all of your options and weigh them against your costs to determine what is right for you and your family.”


Jason P. presents What is a 529 Plan? posted at Childrens Savings Accounts HQ, saying, “Choosing a 529 plan is the smart way to go when investing in your child’s education savings plan.”

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.”

FMF presents The Different Types of Permanent Life Insurance Policies posted at Free Money Finance, saying, “Here I outline the basic information for the most common forms of permanent life insurance and help you determine which category of permanent life insurance may be best for you.”

Control Your Cash presents What Coverage Should You Get When Renting a Car? posted at Control Your Cash, saying, “When you buy insurance on your personal vehicle, you have all the time you need to shop around and run numbers. When you buy insurance on a rental, you’re subject to a monopoly.”

FMF presents Finding the Life Insurance That Is Best for You posted at Free Money Finance, saying, “As you’d expect, each type of life insurance has a wide set of variations and options. So which is right for you? That’s what this post is about.”

Philip presents 30 Christmas Gifts Ideas Under $25 posted at PT Money Personal Finance, saying, “I’m a big fan of the consumable gifts that don’t add to the endless junk we Americans have, so I’ve included many in this list.”

Matt presents Shopping Around to Save Money posted at Living in Financial Excellence, saying, “The sad reality for shoppers like me is we often pay too much for our purchases. By exercising a little patience and planning ahead, we can save a lot of money through the process of shopping for the best price.”

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.”

Peter presents Black Friday Shopping Tips: How to Get the Best Deals on the Things on Your List posted at Bible Money Matters, saying, “How do you make sure that you’re not one of the people missing out on the Black Friday deals? You need to plan your day with military precision, detailing your battle plan down to the smallest detail.”

Paula presents Dare to Be Boring! How the Simple Stuff Leads to Riches posted at Afford Anything, saying, “We hear about the glamorous, high-profile ways to make millions – invent Google, launch Facebook, become the next Justin Bieber. It commands headlines because it’s glamorous. It’s a riveting story. But for most people, achieving a goal – like winterizing your home – is a matter of the simple acts.”

Cash Flow Mantra presents How to Save Big Money on Black Friday posted at Cash Flow Mantra, saying, “I have gotten to observe my brother-in-law who is real good at shopping and saving money so I would like to share some of my observations on how to save a lot of money on Black Friday and relate them to our everyday personal finances.”

Steve Zussino presents How to Save Money on Your Kid’s Next Birthday Party posted at Grocery Deals in Canada, saying, “If you have kids, then you probably know that birthday parties can end up taking a good chunk out of your wallet. After you buy the decorations, food, presents, a cake you could easily spend $200 or more.”

Aaron Hung presents Change Your Ways with Money Without Struggling posted at Aaron Hung.com, saying, “It isn’t fun when people have to scale back because they need to save money. It makes life much less interesting. Consumers don’t have to make their lives less fun in order to keep more of their money in the bank, and they don’t have to have fewer things in their lives to save money.”


Gregory Stokes presents Changes To Tax Credits posted at Tax Credit Calculator, saying, “The rules around tax credits are changing in April 2012. This guide looks at how the change might affect you and your finances.”

SteveR presents Keeping track of your business mileage posted at 2010 Tax, saying, “The guidelines that are in place from the IRS enable workers and business owners to claim for mileage as a business deduction if you are using your vehicle for business purposes.”

SB presents Year end personal finance checklist posted at One Cent at a Time, saying, “We know about setting up goals for the year. We never talk about a checklist of things that should be check against before the year comes to an end. This post features the top 10 things to do before your tax year changes. This sure to help many of us getting our finances and taxes in order.”

Odysseas presents Switzerland Supports Criminals & Hurts Your Wallet posted at Wallet Blog, saying, “CEconomies around the world are now more interconnected than ever, and if we want the world to become a safer place and for all U.S. citizens to be held accountable for the same tax laws, then Switzerland will need to adjust or risk expulsion from the Western financial network.”

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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