carnival of money stories blog carnival #39

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Wow!, here it is, the Carnival of Money Stories 39th edition. There were a total of 40 submissions to this carnival and there are some really great articles. I was notified by the Blog Carnival that this edition of Carnival of Money stories will be featured on the Blog Carnival homepage all day Wednesday the 19th. I am excited and honored to be hosting this weeks carnival and hope that you will enjoy reading the submissions.

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Originally uploaded by skettalee

Debt

David presents How to Eliminate Credit Card Debt posted at Worldwide Success.

Pinyo presents My Foray into Prosper as a P2P Lender posted at Moolanomy.

glblguy presents Chase doesn’t really love me they just act like it posted at Gather Little By Little.

Alison presents The Story Of Our Emergency Fund posted at This Wasn’t in The Plan.

Free From Broke presents Family - Can’t Live With ‘Em…Unless It Helps Debt posted at Free From Broke.

:) monawea presents Why Baby Steps Are So Important - Decision Happen Now, Results Take Time posted at Time To Budget.

Investing

Value Seeker presents Why Most Investors Underperform The Market posted at Stock Investing.

Dereck Coatney presents How To Make A Million Dollars In About 8 Years posted at The Best Stock Trading in the World.

The Investor’s Journal presents Lessons from the Dot-com Bubble posted at The Investor’s Journal.

Super Saver presents Staying Calm In A Volatile Market posted at My Wealth Builder.

FIRE Finance presents Our 7 Mutual Fund Investing Mistakes! posted at FIRE Finance.

Brip Blap presents learning to walk away posted at brip blap.

Pivotal Investor presents Top 10 Growth Stocks For Under $10 posted at Pivotal Investing.

Net Worth

Jacob presents Early Retirement Extreme: On how car dealerships helped me save money posted at Early Retirement Extreme.

Business

Woody Maxim presents What will you do with the message? posted at Woody Maxim.

Blaine presents Something From Nothing- Think Big, Start Small posted at BlainePower.com.

Sutocu presents Domain Name as a Business Brand posted at Your Website Profit.

Silicon Valley Blogger presents How Christmas Can Cost Your Life’s Savings posted at The Digerati Life.

Peter25 presents Building Relationships For Business Growth posted at Business Opportunities.

Blaine presents Business venture is starting to take root posted at BlainePower.com.

Kenton Newby presents Can You Really Make Money Showing People “How To”? posted at KentonNewby.com.

Credit

Credit Help presents Do Capital One Credit Cards Work Abroad? posted at The Truth About CreditCards.com.

Ted presents Using a Credit Card in College posted at The Campus Grotto.

General

FMF presents Sumo Omni: My Son’s Dream Come True (And How You Can Win One) posted at Free Money Finance.

James D. Brausch presents The $200 Horse posted at jamesbrausch.com.

Lynnae presents How Much Emergency Fund Do You Need? posted at beingfrugal.net.

JS presents Six True Stories of People Who Found Cash and Turned it In. Part 2 posted at Smart Money Daily.

paidtwice presents My Lack of Organization Costs Me Money posted at I’ve Paid For This Twice Already….

Ashley presents Why Didn’t I Major in Finance? posted at College of Cash.

supermom_in_ny presents Do You Have Money You Don’t Know About? posted at Getting Out of Debt.

Madison presents Volunteer Income Tax Assistance posted at My Dollar Plan.

Raymond presents Sometimes Saving Money Isn’t Worth The Extra Time and Effort posted at Money Blue Book.

Eden presents What I Have Learned Since Starting My ‘Finance and Fat’ Turnaround posted at Finance and Fat.

Paula presents Sleeping With Money: Going Along for the Ride posted at Queercents.

David presents Customer Service At Its Best - Thanks SmugMug. posted at My Two Dollars.

Blaine presents Frugality, America’s worst nightmare posted at BlainePower.com.

Joshua C. Karlin presents An Amazing Story posted at Marketing & Fundraising Ideas.

Silicon Valley Blogger presents How Christmas Can Cost Your Life’s Savings posted at The Digerati Life.

wilson ng presents No Luggage, No Hand Carrys in the Final Journey of Life posted at Reflections of a BizDrivenLife.

JP presents Being frugal posted at Watch Me Become A Millionaire.

That concludes this edition of the Carnival of Money stories. Submit your articles to the next carnival here.

December 18, 2007 | Filed Under Budgeting, Carnival of Money Stories, Credit Card Use, Financial Planning, Money Management Tips | 14 Comments 

Family and Friends Are More Important Than Money

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I think that even though we may understand that family is more important than money our actions don’t always show that we believe it. If we live a life that is focussed on money and don’t recognize that our families are really much more important than money, we might live a life that is unfulfilled. Chasing the dollar is not a reason for living.

The importance of money varies from household to household but for the most part I think most can say that money is not what brings happiness. It is true that some families are truly suffering because of the lack of money but I don’t think that the money itself is what should be sought. Our families and friends can bring us much more fulfillment than money could ever. God did not design us to find long term satisfaction in anything other than Him but I think relationships with people are a close second.

Money and power give temparary comfort and satisfaction. This is why so many people with money and/or power strive to get more. There is never enough money or power for those that seek it. Relationships however are lasting. A good friend, a child, a mother or a sibling can give your life meaning and satisfaction.

I for one don’t want to let my money troubles take the focus off of what really matters in life which is my family and friendship. I hope you don’t either ;)

October 27, 2007 | Filed Under Financial Freedom Journey Pep Talk, Life Goals, Money Management Tips | 1 Comment 

101 Ways to Cut Your Daily Costs - From Debt Consolidation News

budget moneyThe internet is a wonderful tool. Over the past few years I have found valuable information that has helped me change the way I handle my money, increase my income from home and better educate myself about the world in general. I love the internet and I love finding information that will help our family reach the goal of gaining financial freedom.

101 Ways to Cut Your Daily Costs is an excellent article found on the Debt Consolidation News site on ways to cut spending. I have found from this large list that we have already implemented most of these tips. I also found some other tips that I would like to start implementing.
At the time of our financial low I had to use just about everyone of the ‘Honey I shrunk the grocery bill.’ tips. I the list of tips for saving on your grocery bill from the Debt Consolidation News site and added a few of my thoughts in bold letters.

Planning your grocery shopping carefully may help you save up to 20% or more.

1. Don’t shop from only one store. Pricing and sales vary widely on any given day from one store to the next. Of course, balance the savings from shopping around against the price of gas to get there. I don’t normally shop around unless I happen to see a great sale on meat or produce. Otherwise I usually end up spending more money than I intended.

2. Plan your weekly menu and shop accordingly. Avoid ‘crisis shopping’ for food items after work; you are likely to spend much more. Very, very good tip. Planning ahead can make a world of difference.

3. Be aware of the grocery store product placement strategy. Items that have highest markup are generally placed at chest level where they stand a better chance of being picked up. Stand to your toes or kneel down to have access to cheaper house or generic brands. I usually look for the sale tags first whether up high, down low or in between. Then I look for what prices are lower than the sale tags, if there is anything lower. Be sure you compare prices with the weight or count. Stores will often make one item look better with price when it fact is costing you more because your paying more per amount. Also if you are buying a generic brand for the first time be sure not to go overboard because it’s cheap. Sometimes the generic brands aren’t as good as name brands because of taste or usability. You will end up wasting instead of saving. Try buying one item the first time and then if the family likes it you can go back and buy more.

4. Try to follow your shopping list strictly and avoid stopping by attractive impulse purchase items on your way to the destination shelf. Agreed. Saving money often requires focus and sacrifice. Remember also that making things from scratch is not always cheapest. Example would be making a homemade apple pie might be more expensive than buying one. Things like produce and baked goods are often high prices especially “off season” (meaning not during holiday season). Plan your grocery list around what’s on sale instead of what you want you are craving.

5. Try shopping without your kids in tow. They help you buy those things that you never wanted to buy in the first place. Great tip. I can’t tell you how many times my kids say “Can I have?” while shopping. Though I do think you need to bring them along some of the time so they can learn about shopping and spending. It might be a good idea to give your child (if old enough of course) his own list so that he/she can stay occupied. I would also add that you need to include “treats” on your grocery trip. The treats don’t have to be candy or sweets. It could be the families favorite drink, fruit, meal or even a movie rental. I think it’s important to include these “treats” because being on a tight budget can be difficult at times especially for the kids. Plan your “treats” based on what you can afford but be sure the family recognizes that it is a treat.

6. Try not to be picky about brands. Try out new brands and you may get a fabulous ‘introductory’ discount. Flexibility is essential to sticking to a budget (yes I know that may sound odd). You can have a few of your favorite brands but overall you need to be flexible by using brands that are cheapest. I have found some great introductory discounted items and I have found some awful ones. Like I said before don’t go overboard because it’s a great price. Buy one or two items and if you like it then go back and buy more before the sale is over.

7. Don’t shop when you are hungry. Research says that you are likely to buy more when your stomach is growling. True. You will end up buying things that look good instead of staying focused on your list.

8. Scan your local newspaper daily for the best grocery sales. I usually use the grocery store flyer to make my grocery list. I start buy looking at what’s on sale and then I look in my recipe book for things I can make with the sale items.

9. Don’t be embarrassed to clip coupons from news papers and other periodicals and use them while paying your grocery bills. You could even visit your super-mall’s website and see if they provide online coupons. Oh! Let me tell you about coupons! At a time I was the self appointed Coupon Queen. Coupons are wonderful things if you use them right. It is important to stay focused on saving money though. Another important time to plan ahead is when using coupons. If you have a number of coupons it’s very important to categorize them. Otherwise you will be spending way to much time in the store trying to find that coupon “you know you have somewhere”. Eventually you will just get so frustrated you will just stop using them. Also don’t forget to shop for the best price. Don’t become obsessed with using the coupon just because you have one. Buy the way, the only thing you should be embarrassed about is not controlling your spending. If you are saving money clipping coupons then be proud that you are doing something to change your financial future.

10. Pay for coupons if you have to; it helps you trim your monthly grocery bill. There are a lot of national-brands coupon-offering services on the Web. Make use of them and order coupons for products that are relevant to you and see your grocery bill shrink. I have never heard of buying coupons from nation brands services on the Web but I have bought coupons from eBay (not sure if they still allow this). You can usually buy lots of 10-20 of the same coupon. If there is a great sale going on that won’t expire for at least the amount of time it takes to have them mailed to you.

11. Items such as painkillers and contact lens solutions cost more when you buy it from your grocer. Therefore avoid purchasing non-grocery items from these places. Most discount stores like Kmart and Walmart have much better prices on drug store items. Though sometimes grocery stores have some really good sales so be sure to check all the grocery store isles.

12. Look out for opportunities when the grocery shop lowers the price of items simply because they are approaching their expiration date. Buy and use them quickly. If you don’t know what to make for dinner tonight check out the “for quick sale” items.

13. Keep a calculator handy while shopping. This way you will be able to know if buying a case is significantly cheaper than buying stand alone items. Great tip! Be an active consumer. Don’t just believe it’s cheaper because it says it’s cheaper.

14. Check and total the items on the receipts before leaving the store. Sometimes you may be able to catch that error and save your self a lot of dollars and not to forget loads of hassle. I usually try and watch the items as they go through the scanner.

The other 87 tips are just as good as these fourteen. Some of the other tip topics include Trim your utility bill, Pay less at the hospital, Clothe yourself without killing your wallet, Limit phone expenses, Cut down while dinning out and more. Saving money is actually like making money. If you are saving the money you would have normally spent without planning then that is money that has stayed in your pocket. As a stay-at-home mom I have given myself the responsibility of ‘earning an income’ through savings. Keeping a budget requires being actively involved in where your money goes. By planning ahead and cutting costs you are doing more for your family than you may think.

Find more debt relief tips at Debt Consolidation News.

March 11, 2007 | Filed Under Financial Advice, Money Management Tips, Paying The Bills- Sponsored Ads, Saving Money with Coupons | 2 Comments 

50 Year Mortgages? Can It Get Any Worse Than This?

It’s January And The Bills Are Coming! Cash In On The Equity In Your Home.

SAVE MONEY ON OUR NEW 50 YEAR LOAN

I couldn’t believe it the other day when I opened up my local Penny Saver flyer and read this ad. Now loan companies are trying to keep us in debt till the very end of life. Do they even realized that borrowing on a 50 year loan for most people means that they will be dead before the fifty years is over? My husband and I would be in our eighties by the time we paid off a 50 year loan. Not to mentioned that fact they we would be paying a huge amount of interest by the time the loan was paid off.

It seems that mortgage and credit card companies are not actually concerned about whether we pay the debt off anymore. It’s as if these companies are encouraging us to borrow, borrow and borrow for the rest of our lives with little concern about whether we can pay it off.

Many people would see an ad like the one I mentioned and be excited at the possibility of only paying $252.86 a month for a $100,000 loan. Heck, that payment sounds great even to me. But what does having a 50 year loan really mean? It means that you have decided that DEBT is your LIFE. It means you have decided NOT to take control of your money and live under financial bondage. Why am I being so harsh? Because I want people to understand that debt should not be our life and it’s time for change if it is for you.

For the most part Americans (as well as many other countries) seem to have resigned to the fact that debt is a way of life. We start borrowing money from the time we are out on our own till the time we die. People say things like, “I’d like to get out of debt, but we all know that’s never going to happen”. Over time credit and mortgage companies have been feeding us this line only it’s in the form of an ad. It’s January and the Bills are Coming! Save Money on Our New 50 Year Loan. Yet we treat these companies like our SAVIORS? Being worthy of borrowing money should not be a symbol of success. Instead we should be running from debt, paying it off as soon as possible and deciding borrowing money is NOT a way of life.

So the next time you are considering borrowing money understand you could be making the choice between financial freedom and financial bondage. Get control and STOP BORROWING MONEY!

January 16, 2007 | Filed Under Financial Advice, Money Management Tips | 3 Comments 

Credit Rebellion Letter

If you have taken a stand to stop borrowing money you may enjoy reading this Credit Rebellion letter. I would encourage you to send it. Let me know if you do I would love to hear your story.

Credit Rebellion Letter - you can download your own. I got this letter from Dave Ramsey’s Website.

 

Dear Credit Shark,

CONGRATULATIONS!!!! Your credit company has been chosen, out of all those in your area, to receive our special “Send us junk mail and get it back at your expense” deal.

I know this is not what you expected when you opened this envelope, but I did not expect your garbage when I opened my mailbox either. I considered sending the following

1. One chain link, symbolizing the people you have enslaved

2. One lollipop, symbolizing the suckers who use your credit cards every day

3. One miniature American flag, representing the members of congress you bought to pass recent legislation

4. One brand-new, stylish BRICK…representing the homes you have wrecked!

Many people on your mailing lists listen to The Dave Ramsey Show, so we are sending you the following suggestions instead:

 • Take us off your stupid mailing list!

• Clean up your act, then your guilty conscience will let you sleep at night. No more will you jump at your own shadow, suffer night sweats, avoid eye contact with your children, or have terrible nightmares that are introduced by your former business partners, which feature three strange ghosts.

 • Upon receiving your offer in the mail I was excited to see I would have had the opportunity to pay several fees, including the application fee, the acceptance fee, the annual fee, AND the monthly user fee. Seeing how you are full of fees, perhaps I can interest you in my $250 unsolicited mail fee!

We, The Dave Ramsey Show listeners hold these truths to be self-evident that all men are created equal, that they are endowed by their Creator with certain inalienable rights that among these are: Life without credit card debt, Liberty from ridiculous interest rates, and the pursuit of happiness which will be achieved when you finally get the message: Reply THIS shark!!!

Sincerely,

Devoted to Being Debt-Free

 

“The rich rule over the poor, and the borrower is the servant to the lender.”

November 9, 2006 | Filed Under Financial Advice, Money Management Tips | 1 Comment