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Nerdy Finance #8

Aug. 24, 2012
Personal Finance
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Whoa, what a week it’s been. The nerds got a ton of really great submissions this week. Many of them are interesting debates on issues like life insurance, loan payments and retirement rather than just some advice or highlights. We love getting to the meat of the issues, and this week our blogging friends did just that. Our own projects are also starting to take off, check out this study we just did on Mitt Romney‘s likelihood of winning the presidential election. When you’re done with that, feel free to get your nerd on.

The submissions

Martin with Studenomics gave us One Place Students Shouldn’t Spend Money Ever (and the solution) – A cool article on where nerds can save on free checking (we also know a thing or two about that…).

Roger with The Chicago Financial Planner sent Life Insurance – You Probably Need It – This one is interesting to us because we tend to think the opposite (there is also another submission further down on life insurance). Seems to be a hot topic, see what Roger has to say.

Bob at ChristianPF sent over 70 Basic Personal Budgeting Categories to get you Started – Start your budget off right – here are some of the best budgeting categories to set you off on the right foot.

Ben Feldman at ReadyForZero Blog offers Car Loan or Home Loan: Which Would You Pay First? – Is it wiser to pay your car loan or your mortgage? It might seem like a silly question – after all, ideally you want to pay both. But if you had to choose, which would you pay first?

Glen Craig at Free From Broke writes How to Negotiate to Lower Your Credit Card Interest Rates – A high interest rate on your credit card can be costing you if you have a balance. Take these steps to negotiate to lower your credit card rate.

CCS at Credit Card Smarts sent the nerds Tackling Debt: Start with the Credit Cards – You want to tackle your debt. Great. But where to start? See why you should look to your credit card debt first when you aim to tackel debt.

DGI at Dividend Growth investor sent How to get dividend investment ideas – Some of the dividend paying companies in my portfolio are corporations, whose products I and millions of other consumers worldwide use on a daily basis. Here is a summary of how my daily routine provides me with dividend stock ideas for further research. The narrative is rather simplistic, but the point is that we are surrounded by investment ideas everywhere. Only after training ourselves to spot these opportunities, will investors be able to capitalize on them.

Div Guy with The Dividend Guy Blog writes Quick Guide to Analyze Dividend Funds – A nice review on how you can look at a dividend stock and determine what you should do next.

Jeremy with Modest Money writes Considering Switching Careers – People are now changing jobs more than ever. In addition to just shifts to different employers, people are also entirely switching careers more than in the past. So how does a person decide to switch careers?

Teacher Man with My University Money writes Student Loans – Jackpot! (Kind Of) Part 1 of 3 – Part 1 of our student loan series. What are student loans and how do you know if you are qualified to get them? We’ll show you how.

Young with Young And Thrifty writes Money As a Means of Keeping Score – What is the value of money after a billion dollars? What motivates you after you have enough money?

J.P. with Novel Investor writes Risk Basics: Inflation Risk – A healthy amount of inflation is a good thing. That said, there are ways to protect your money when inflation risk rises.

Deacon Hayes with Well Kept Wallet writes Top 10 Best Money Quotes – Quotes about money often make me smile, more often because of the wisdom they provide. Here is a list of the ten best quotes about money I have ever heard.

Robert with My Multiple Incomes writes Negotiating for a Higher Salary – I had my annual review a couple of months ago, where I received my annual inflationary raise. However, they told me that in August that I would have my MBA salary raise. They told me they want to do whatever it takes to keep me, and that includes paying me what a new company/position would give me. I have done a lot of research, and I’m doing all that I can do in order to feel prepared. Here are my tips for negotiating your salary.

Will with Hacking the Bank writes Preserving and Improving your Financial Willpower – Did you know that most people have limited willpower? This means that each task where we have to choose the “right answer”, we deplete some of our willpower for future tasks. You should check out the research and tips of implementing this into your financial plan to ensure you reach your goals.

Paul Vachon with The Frugal Toad writes How to Use Online Coupons to Save Money – Every year thousands of deal-hunters dive through ads and even wait in long lines to take advantage of a true bargain. By overlapping online shopping with online coupons, you can get the same deals or better, in the comfort of your own home.

Daisy with Add Vodka writes Planning For Homebuying – I will admit that I am really not always the most patient of people. When I get something in my head, I want it now. Not in a year, not in three months, NOW.

Shawanda with You Have More Than You Think writes How to Make Extra Income With Online Odd Jobs – Where to find fresh opportunities to supercharge your earnings without the hassle of starting a traditional business.

Corey with 20s Finances writes Young Adult Retirement Planning – Benefits of Saving a Lot Early – Find out when you should start saving for retirement and how much you should be saving for retirement.

John with Calling the Puts writes Save Money by Learning to Spend Wisely – The first step to investing is saving, and the key to saving money is learning how to spend it properly.

Invest It Wisely with Invest It Wisely writes I Don’t Need to Worry about Retirement Yet, Do I? – When is it time to worry about your retirement savings? Read my article to learn when…

Crystal with Budgeting in the Fun Stuff writes Budgeting Can Change Your Life And Get You Out Of The Debt Hole – Budgets and budgeting are the key to savings and getting out of debt.

Lance with Money Life & More writes How to Write a Check – In today’s environment I personally wouldn’t surprised at all if you don’t know how to write a check. Writing a check seems like a pain with the options you have for paying your bills today. However there are just some times when you don’t have many other options other than writing a check.

J Wayne with All Things Finance writes The True Cost of Car Ownership – Car ownership costs much more than people think. It’s not just a matter of what you pay each month, but many more factors such as depreciation, insurance, fuel, interest and taxes.

Passive Income Earner with The Passive Income Earner writes Is RIM a Good Investment? – Research In Motion (RIM for short) has been an icon for Canada with their Blackberry but the fierce competition it has faced since Apple came out with the iPhone has challenged their market hold on the smartphone. Not only has Apple taken a bite of their market but so has the Android based smartphones.

PITR with Passive Income To Retire writes Negotiating Your Salary and Benefits – Find out important career tips and what you can do to negotiate your way to a better job.

Jon the Saver with Free Money Wisdom writes Lack of Liquidity May Be Why You Don’t Feel Rich – Having a lack of liquidity has real negative consequences that can be really bad for your finances.

Roger the Amateur Financier with The Amateur Financier writes Couples and Money – Splitting the Bills – A guide for couples on how to split the bills they are now facing together, presenting three different ways and the advantages of each.

PPlaner with Provident Plan writes Is Prepaid or Traditional the right credit card for you? – Last week I talked about whether you should avoid debt. In case you haven’t read the article, I talked about how managing our finances, like much of life, is never black and white. This applies to debt. In many ways it may be advantageous to be debt free, but not always.

Harry Campbell with Your Personal Finance Pro writes Why Borrowing From Your 401k is a Bad Idea – here aren’t many loans out there that allow you to borrow without a credit check and pay yourself interest, but that’s what a 401k loan does. Sounds pretty awesome right? Well it isn’t all good, and although pundits argue that 401k loans are a good alternative to commercial loans and definitely a better choice than an outright distribution, a 401k loan goes against the whole principle of retirement investing.

John with Married (with Debt) writes We Did It: Debt Free – How we became consumer debt free, and how you can too. Intentional living for married couples. Get out of debt.

Sustainable PF with Sustainable Personal Finance writes That Old Refrigerator May Be Costing You – Got an old fridge? Tired of soaring energy costs? Here are some strategies to save you money!

A Blinkin with Funancials writes Should I Die This Year or Next Year? – 2013 Federal Estate Taxes When you’re dealing with a death in your family, the last thing you want to think about is what fraction of the estate goes to the United States government. What’s remarkable is that depending on WHEN you die, that fraction could be significantly higher (or lower).

Aloysa with My Broken Coin writes How Much Money Are We Supposed to Spend on Friends? – Friends. My biggest monetary pet peeve lately. Nowadays it is not easy to be a good friend. Nor it is cheap anymore.

Barbara Friedberg with Barbara Friedberg Personal Finance writes 5 TIPS TO GET RICH AND BUILD WEALTH – Building wealth is a key to independence and freedom; and it’s not all about the money. More people get depressed, get divorced, and get stressed over money issues than most other worries. By eliminating the living paycheck to paycheck fears and building long term wealth, emergency savings, and money for retirement, you remove one of the life’s greatest stressors.

krantcents with KrantCents writes Start a Business at 59 Years Old? – Would you start a business at 59 years old? Bob Chinn did! His seafood restaurant is the highest grossing restaurant in the United States. It is not in New York or Chicago or Los Angeles! It is in Wheeling, Illinois. It is just thirty (30) miles from Chicago.

Tushar with Start Investing Money writes How Are Stocks Classified? – Read my article to learn how Stock are classified, and in the process gain a possible new perspective on them.

Eddie with Finance Fox writes The Cold Hard Truth On Being a Personal Finance Blogger – What I Learned In Less Than 2 Years! – Looking back now at your blogging journey, you can agree with me on this: Being a blogger and blogging is anything but easy.

Hank with Money Q&A writes Fee Based Vs Commissioned Based Financial Planners – There are two main types of financial planners – fee based and commission based. Both types of financial planners provide financial advice on how to best manage most aspects of your financial life.

Don with MoneySmartGuides writes Living Paycheck to Paycheck – In my recent wanderings on the world wide web, I came across an article on CBS MoneyWatch that said 38% of Americans are living paycheck to paycheck. This is up from 31% back in 1997.

YFS with Your Finances Simplified writes 2 Home Buying Tips That People Never Tell You! – I would like to talk about home ownership, in particular, mortgages. Now everyone tells you that home ownership is better than renting.

Corey with Steadfast Finances writes Should You Invest in Dividend Stocks? – Find out if dividend stocks live up to the hype. The payment structure seems to have an advantage on other stocks, but is that really the case?

Maria with The Money Principle writes Real estate ownership: a blessing or a bother? – I am on holiday and the real estate problems I have in Bulgaria is heavy on my mind. To rent or to sell?

Ted Jenkin with Your Smart Money Moves writes 4 Tax Law Changes We Need To Make Permanent – With the presidential election beginning to heat up in America over the next several months, we are all going to hear a lot about income taxes.

TRL with The Retired Landlord writes Real Estate Leverage – Using it to Your Advantage – Are you wondering what real estate leverage is? Find out the answer and how to leverage your money to build wealth faster without the risk.

Daniel with Sweating the Big Stuff writes What Determines the Value On Your Home Loan? – You’ll see a lot of three-letter acronyms thrown around as you shop for a home loan: APR, FHA, PMI. It’s enough to make your head spin. But there’s one mortgage acronym – LTV, short for loan-to-value ratio – that’s always puzzled me. Read more to get the lowdown!

Suba with Broke Professionals writes Brown Bag It: Tips For Making Cheap Lunch – Deciding to brown bag it doesn’t meal relegating yourself to a life of school lunches with PB&J and baby carrots. Here are my favorite adult lunch ideas.

MR with Money Reasons writes Is A Roth IRA One Of The Best Protection Against High Future Tax Rates? – With tax hikes more than likely in the future, is a Roth IRA your best protection against the government being able to tax all of your money?

Wayne with Young Family Finance writes Steps to Achieve Financial Security – Learn three basic steps to achieve financial security. Everyone should be striving for this goal because of what it offers.

Debt Guru with Debt Free Blog writes Prioritizing Your Debt Pay Off – Find out the best strategy to paying off debt. Learning the best way to pay off debt can motivate anyone to get started now.

L Bee with L Bee and the Money Tree writes 7 New Home Budget Busters – I had originally set a goal for this month of not letting my spending get over 1k. I topped this number easily and upon further examination realized there were several culprits. I moved into a new apartment two months ago … Continue reading →The post 7 New Home Budget Busters appeared first on L Bee and the Moneytree.

Luke with Learn Bonds writes Emerging Market Debt: Having Your Cake and Eating it Too – Emerging market debt trades at – twice the yield of developed country debt and triple the fundamentals.

Amanda L Grossman with Frugal Confessions writes My Advice to a Person Budgeting for the First Time – Someone asked for my help this past week in creating a budget for their household.

Jen with Master the Art of Saving writes Preparing Our Finances 4 Home Ownership – By estimating our mortgage and bills and preparing our finances for home ownership now, we can begin to adjust our budget to avoid a financial apocalypse later.

Ryan with Early Retirement Investments writes How Solar Power Can Make You a Passive Income – Learn how solar power can make you passive income. I bet your in for a small surprise!

Miss T. with Prairie Eco Thrifter writes Build Your Home Food Storage without Breaking the Bank – One of the best things you can do for the sake of your own self reliance is to build up your home food storage. Your home food storage can tide you over in the event of a financial setback, or be part of your efforts for emergency preparedness.

Peter with Bible Money Matters writes How Much House Can You Afford to Buy? Should You Buy Less than Your Means Allow? – There is no shortage of advice when it comes to figuring out how much house you can afford. Let’s take a look at some expert opinions, figure out what banks will approve you for, and figure out what is usually the most financially sound decision to make when buying a new home.

Little House with Little House in the Valley writes Stay Organized with Your Finances – So how can a disorganized person become more systematic with their finances? It’s really not all that mind-boggling. Here are a few tips to get started:

Lazy Man with Lazy Man and Money writes Is ZeekRewards a Scam? – There’s lots of information on the Internet now of the SEC shutting down the Zeek for running a 600 Million dollar Ponzi scheme. As most people know lots of people lose lots of money in Ponzi schemes. However, there’s a small segment of people who are sucked in and truly believe they are a way to make money.

Robert with Entrepreneurship & Life writes How Long Do You Give Away Your Services Before Charging? – In some industries, you should never start working for free. If you provide a concrete service with a measurable value, such as accounting or financial consulting, you should charge for everything up front. However, if you are providing a service that requires a reputation and referrals, you might have to go the free route while you are starting up.

Steve with Brip Blap writes The Only Real Sources of Passive Income – Don’t think you’ll get rich without working for it. Everything you can generate wealth from takes effort. Writing a book is hard work. It may create a wealthstream for years to come, but that’s what you should be aiming for: wealthstreams, not passive income.

John Border with The Investing site writes What is 403(b) and how does it work – 403b plan is a must for certain groups of people who work in non profit organizations or educational institutes. This post is a basic guide to help you understand as to how the 403b plan works.

Ray with Financial Highway writes Why You Shouldn’t Buy a House on a “Shoe String” – Now is a great time to buy a house—interest rates are at all time lows, and house prices have fallen significantly. In some markets you can get a house at 2005 prices with 2012 interest rates, which makes now a special time in the housing market. But you do have to be a bit careful in how you do it.

PK with Don’t Quit Your Day Job sent Get Over Your Irrational Fear of Risk – The risk of your investments falling isn’t the only risk you need to be prepared for… what goes unstated is the risk that your investments will come up short.


That concludes the 8th edition of the Nerdy Finance Carnival. Keep the submissions coming and tell the world!