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Welcome personal finance fans to the 22nd (can you believe we’re on the 22nd edition already?! I remember when Crystal started this thing!) edition of the Totally Money Blog Carnival, a weekly carnival that includes the top personal finance and money posts.
Before getting started, I wanted to congratulate FruGal and Miss Moneypenniless at TotallyMoney.com on becoming the new owners of the Carnival. It will be exciting to continue to see the Totally Money Blog Carnival grow.
In honor of June being a big wedding month (after brides and grooms graduated from college and high school in May), I figured it might be interesting to share some stats about the most wild, expensive, out-of-this-world weddings that I could find! You can read these random tidbits in red text interspersed throughout the articles.
Listed below are the top 3 articles of this week’s submissions!
Top 3 Editor’s Picks
1. Mike Piper presents It’s All One Portfolio posted at The Oblivious Investor, saying, “One of the most common investing mistakes is holding the same asset allocation in each account (IRA, 401(k), etc.), even if doing so results in higher costs, complexity, and taxes.”
These days, many of us operate our investing strategy through the use of multiple account types (401k’s, IRAs, annuities, taxable accounts, etc). This article by Mike Piper gives us a good reminder that it is most efficient and also least expensive to use the accounts to maintain one overall asset allocation. Just remember to place the different asset classes in their most tax-efficient location.
Also, an interesting side note is that Mike’s site was recently mentioned as a very high quality investing blog to read by Money Magazine. This is truly quite an honor! Congrats Mike!
2. The Saved Quarter presents Cut Your Budget: Erin posted at The Saved Quarter, saying, “See how Penny from The Saved Quarter helped Erin fit her real life into her budget, giving her ideas to be debt free and with a full emergency fund in two short years!”
Penny from The Saved Quarter has started doing a great thing by reaching out to her readers and seeing if she can help them optimize their monthly budget. In this post, one of her readers, Erin, lays out her current budget, and then Penny uses her expertise to recommend ways for Erin to cut her entertainment and food expenses so that she can pay herself first and pay off her debts quicker. Rock n’ roll Erin and Penny!
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5th Most Expensive Wedding – Chelsea Clinton and Marc Mezvinsky
This 2010 wedding cost a measly $5 million. Key spending items were $600,000 for A/C’d tents for the guests (you can’t be sweating after all!) and an $11,000 cake. What’s funny is that one of my friends from high school had a $5,000 wedding cake and wasn’t nearly this rich.
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Listed below are the best of the rest of the submissions. Enjoy!
Budgeting
Andrew Boyd presents 10 Best Personal Financial Planning Tools posted at The Credit Letter, saying, “With a range of financial planning tools available online, it’s now easier than ever manage your money.”
Jason Price presents How to Budget with the Envelope System posted at One Money Design, saying, “How to make the most of budgeting with the envelope system!”
Careers
Miss Moneypenniless presents Surviving Unpaid Internships posted at FruGal, saying, “New Totally Money author Alex Varley Winter imparts her secret tips on coping financially and emotionally while trying to get a foot through the door.”
Gerry Sandis presents Youth May Find It Hard To Find A Job This Summer posted at RESUMEMag, saying, “There may not be enough funding for summer-jobs programs, but that doesn’t mean you shouldn’t still hit the pavement looking for your own summer job. Here are some tips to help you find some gainful employment this summer”
Lahesha Williams presents Using Social Media to Market your Small Business Effectively posted at Career Help For Christians, saying, “Marketing is an essential element of every business and can be the key to the success or failure of the business.”
Credit
Bob presents The Debit Card vs. The Credit Card posted at Christian Personal Finance.
Tim Chen presents The Walmart MoneyCard: Just Another Prepaid Debit Card to Avoid posted at NerdWallet Blog – Credit Card Watch, saying, “The Walmart MoneyCard is just one aspect of the superstore’s expansion into the financial arena: it also offers check cashing, bill payments, money orders and tax prep, among others.”
Juan Haffer presents The Best Travel Credit Card posted at Blue Sauger.com, saying, “This post shows how to find a good credit card for overseas use.”
Debt
Briana Ford presents Starting a Debt Snowball posted at 20 and Engaged.
Justin presents Why You Should Stop Paying Down Your Debt posted at Money is the Root.
Finance
Maxim Kazawy presents 5 Best Dividend Paying Mutual Funds with High Income posted at Best Dividend Mutual Funds, saying, “Dividends provide an instant cash flow return on your investment and also act as a downside protector in bear markets. Also, the US stock markets have lost 2% annualized over the last 10 years. If you were invested in dividend paying mutual funds during this time, you would probably have made 5% compounded annual gains. In this article, we will go over 10 best mutual funds that pay dividends.”
Joe Morgan presents Notice of Mortgage Protection Insurance, a Scam. posted at Simple Debt-Free Finance, saying, “Is Mortgage Protection Insurance a good idea? I don’t think so, and here’s why.”
Matt Mason presents What Is The Best Investment? posted at FYMO Personal Finance Blog.
Financial Uproar presents My Updated Investment Strategy posted at Financial Uproar, saying, “My updated investment strategy, and how it combines active and passive investing.”
Alexander presents The Dividend Growth Model posted at Dividend Stocks, saying, “This stock valuation model takes a look at divided growth and uses it to help you decide whether or not the investment is a good buy.”
Sun presents What Makes A Good Checking Account posted at The Sun’s Financial Diary.
Crystal presents Craigslist – Garage Sale Leftovers posted at Budgeting In the Fun Stuff.
Frugality
Philip presents Find the Cheapest Gas In Your Zip Code posted at PT Money: Personal Finance.
Glen presents Take Advantage of Free 2011 Reading Programs During the Summer posted at Parenting Family Money.
Aaron Elder presents Frugal Fail: Renting your cable modem is harmful to your wallet posted at Below Your Means: Living well by living within and growing your means.
retirebyforty presents Groupon VS Google Offers posted at retireby40.org, saying, “Groupon is about to face it’s biggest challenge yet – the 800-lb gorilla named Google Offers.”
Courtney Sperlazza presents When expensive is frugal: a stroller story posted at Well Wise Happy.
Tim Fraticelli presents Negotiating Anything posted at Faith and Finance, saying, “Negotiating doesn’t have to be scary. These tips will help you in almost any negotiation – from salary, to car purchases and garage sales. Negotiation is a skill that can be improved IF you practice.”
Anna presents What are Grocery Ecoupons? posted at Think ‘n Save, saying, “Paperless grocery coupons, or ecoupons, are becoming more common. We show you how to find and load this type of coupon.”
The Amateur Financier presents Frugal Friday – Medicine posted at The Amateur Financier, saying, “A guide to saving on medicine, something we all need (and all too many of us spend too much money on)”
Money Management
Tom Drake presents Focus on the Big Things posted at Canadian Finance Blog.
Outlaw presents Online Stock Broker Comparison for Do-It-Yourself Investing posted at Outlaw Finance: Investing Blog.
Boomer presents When To Fire Your Investment Manager posted at Boomer & Echo, saying, “You should hire a manager only after careful research and thoughtful deliberation. The decision to fire a manager should be made in exactly the same way.”
My Journey presents June 2011 Net Worth Update posted at My Journey to Millions, saying, “From May 2, 2011 to June 1, 2011 my net worth has increased 8.69%. From January 18, 2011 to June 1,2011 my net worth has increased 33.36%”
FMF presents Seven Keys to Get Up, Get Speaking, and Get Paid posted at Free Money Finance.
MoneyCone presents 10 Questions To Ask Your Bank Before You Open An Account posted at Money Cone, saying, “Fine prints, who reads them right? At least until you are hit with fees for violating some rule buried in fine prints!”
Hunter presents Financial Secrets Are Cheating posted at Financially Consumed, saying, “Poor communication between couples is often cited as a leading cause of stress and break-up. Keeping financial secrets in a relationship, for any reason, is deceptive behavior and can only lead to a loss of trust.”
Dr. Dean presents A New Credit Temptation! posted at Dr. Dean’s TheMillionaireNurse.com Blog.
Other
Andy presents Health Insurance and Health Care Costs Are Crazy posted at Tight Fisted Miser, saying, “I have written before about the crazy cost of health care but a recent experience has inspired me to write about it again.”
liverealnow presents Money Problems: Insurance posted at Live Real, Now, saying, “Do you know what kind of insurance you need and how much to get?”
Ken presents Home Business Start-Up: Obtaining Business License and Permits posted at Spruce Up Your Finances, saying, “Starting a business is not as easy as just thinking of a business concept and opening your doors to the customers immediately. Before you can start conducting your business, there are a few things that you have to do such as obtaining the required business license and permits”
Real Estate
Barb Friedberg presents HOW TO CAPITALIZE ON THIS ECONOMY posted at Barbara Friedberg Personal Finance, saying, “With interest rates at all time lows, maybe now is the time to take out a mortgage, or finance a rental property or business endeavor.”
Jennifer Martin presents 5 Tips to Negotiating to Buy a House posted at The Negotiation Board, saying, “Take advantage of this extreme home buyer’s market and learn how to expertly negotiate the purchase of your next home with these five strategic tips.”
Saving
Melissa Batai presents My Unusual Savings Plans – Save $5 Bills and Change posted at Mom’s Plans, saying, “Now that my husband has a full-time job and I am bringing in more money, I expect that we will be able to meet our monthly obligations, but there isn’t much room for extra savings. So, I have decided on this unusual savings plan: All change will go in a jar and be saved for a new car. All $5 bills will be saved for a down payment on a house.”
Buck Inspire presents Auto Insurance Shopping posted at Buck Inspire.
Jim Yih presents Saving for retirement is simple, not easy posted at Retire Happy Blog, saying, “Saving for retirement is simple, but not easy. Although saving rates are low, Canadians can utilize some key strategies to save for retirement.”
Control Your Cash presents Index Funds Don’t Work in Bear Markets posted at Control Your Cash: Making Money Make Sense, saying, “We tell ourselves that index funds always work even though there is a voice of common sense within each of us that tells us that it cannot possibly be so. How could there ever be an asset class that is worth buying at any price?”
Spending
Glen Craig presents Google Wallet and the New Wave of Paying for Things posted at Free From Broke.
Money Beagle presents Missed Opportunities At The Gas Pump posted at Money Beagle, saying, “What gas price situation bugs you the most?”
Kevin presents Don’t Get Fooled: High Pressure Marketing Tactics posted at Invest It Wisely, saying, “Remember to take your time and look at the fundamentals before committing to any big decisions. If the deal really is that great, then why would the salesperson have to try so hard to sell it? In the end, examine the fundamentals, look at the numbers, and, just like with women in the bedroom, make sure the salesperson understands that ‘no’ means no.”
South County Girl presents A trip to Michaels… =) posted at South County Girl, saying, “How my bridesmaid and I saved a ton of money making our own hair accessories for me and my bridal party for my wedding instead of paying $49-$100 per flower clip from David’s Bridal.”
Fred Lee presents Unique Father’s Day Gifts That Don’t Break The Bank posted at Parenting Squad, saying, “Don’t cave to simplicity. If you’re looking for unique, inexpensive, or even free ways to show dad he’s the prince of papas, consider these ideas.”
Tom presents Having a Baby on a Budget posted at StupidCents, saying, “Having a baby on a budget will change your finances forever. Budgeting for a baby is something I want to be prepared for when the time comes.”
Taxes
Odysseas presents Not Even the Unemployed are Exempt Come Tax Time posted at Wallet Blog, saying, “If you’ve recently lost your job, you’ll be frustrated to find out that you still have to pay taxes on your unemployment benefits — but I have a few tips on how you can lessen this burden on your financial situation.”
Also, if you are interested in hosting an upcoming edition of the Carnival, take a quick look at the hosting requirements, and then contact Budgeting in the Fun Stuff about arranging a hosting date.
***Photo courtesy of http://www.lehmannmansion.com/uploads/dd/04/dd047d68df946ca2ef6b16fccf947902/from-Mary-Hill-BethMarkCar-in-Front.JPG
***Wedding stats sourced from http://www.businessinsider.com/most-expensive-weddings-2010-7#1-prince-charles-and-lady-diana-12