Carnival of Personal Finance #172 – Meltdown Edition

I’m pleased to present….oh wait…we have a special report coming in…

"The sky is falling!" "Banks are failing!"

If Homeland Security had a "threat level" for the financial markets, last week would have been BRIGHT RED. (update: And today! Dow has biggest point job ever)

With all the scare in the air about a meltdown, the good news is that you can still improve your own financial health, without the help of the federal government.

I’m learning to do it as I climb out of 300,000+ of debt, so you can too!

Here are 56 posts to help improve your personal finance situation…thanks to all who submitted. Enjoy!   ~ DebtKid

Threat Level, SEVERE – (DebtKid’s Editor Picks)

Nothing causes more financial meltdowns than medical bills. Squakfox shares not only why you should start an emergency fund, but shares how it saved her a$$. Going against the normal pf blogger grain, PaidTwice shows you how to realistically and thoughtfully increase a budget item. Yes, increase!

Work at a bank or mortgage company right now? You’re probably getting some grief. Money Beagle gets a really interesting insider look at the credit crisis.

Lastly, Trent from The Simple dollar goes into depth about the 12 biggest personal finance mistakes people make over and over again (plus their solutions!).

Money Management

• Frugal Dad looks at a recent study showing that half of American workers live paycheck to paycheck. I know at least half my friends do.
• From Destroy Debt: Truly free college? Heck yes. Why didn’t I attend one of these schools for a free college education?
• Living Almost Large shares thoughts on avoiding a marriage meltdown or "keeping the peace" when one partner keeps a financial secret.
• Orange 4 Money presents 20 ways to increase your net worth.
• The Wisdom Journal gives it to you strait with 5 financial basics. Nothing fancy, but 5 meat and potatoes tips that are solid.
• Leave your retirement accounts alone! – OK, My Journey To Millions, I promise I will!
• That gym membership you have that you never use? Yeah, that’s a passive expense. From Liberta – Freedom
• The Digerati Life runs down what happens to failed banks, and if you should be worried about your accounts.

Frugality

• With the current "crisis" is it time to start growing all my own food? Oh dear god. I can’t even cook, let alone grow! Brip Blap looks into self-sufficiency and frugality.
• Chief Family Officer shows how to get rid of junk catalogs. Is Victoria’s secret junk? Just kidding!
• Everyday Finance shows some real world differences between being frugal and being cheap.
• Do you give your friends financial advice? (Me, no. Well, not yet at least : ) – FruGal shares her (entertaining) story about a friend and her financial crisis.
• Our Four Pence gives 101 ways to save money in everyday life. Yep, 101.
• Cash Money Life breaks down the differences between Blockbuster and Netflix.
• You are who you hang out with, right? Well, sort of. Money Ning shows you how influencing others can help your wallet.
• Miss Thrifty shares some tips for buying fashion brands on ebay. I have no fashion, just so you know.
• Saving Advice get 10 years of use from a computer. Wow, a fellow frugal geek. Nicely done!
• Taking Charge takes charge of her budget and reflects on an entire year of living frugally.
• Student Scrooge asks essentially, "should you lie to save money?" A very interesting look at threatening to cancel a service (your cable for example) just to get a discount.
• Think before you shop! The Smarter Wallet gives 5 basic shopping tips to live by.

Saving

• Blueprint has a nice looking spreadsheet with the best CD rates around the US.
• Antishay shares some very practical tips on how to save money every paycheck.

Finance

• So, your mortgage holder just went bankruptcy. Wohoo! You’re off the hook! Wrong. Five Cent Nickel shows what happens to your mortgage if your bank fails.
• Bridging The Gaap has some sweet spreadsheets showing the cost of birth control. vs. the cost of raising a child. Warning! Controversy ahead!
• Did you recently graduate from college? Find out what happens to your student financial accounts at Realm of Prosperity
• Fix My Personal Finance asks what questions do you ask a financial planner?

Investing

• Goldilocks and the Three Pharms – With a title like that how you could not check it out. Nicely done Dividents4Life
• FIRE Finance has a nice case study on the recent retirement of fellow pf blogger My Dollar Plan. Sweet!
• Sometimes copying people is good. Sometimes its not. It’s not good in school and My Retirement Blog shows why it’s not good for portfolios either.
• Amid the craziness last week, The Dividend Guy bites the bullet and buys a stock.
• Harvest Dollars shares 6 important things to remember when investing.
• Value Traps. They are bad. Avoid them! Thanks FiscalZen.
• The Fraud Files Blog shares Marc Cuban’s ideas on a private bailout of the finance sector. Oh Marc, you’re so crazy. But you’re also a genius sometimes.

Economy

• Tough Money Love makes the case that the push for more home ownership is crushing taxpayers.
• Online Savings Blog states a case for the root cause of the current failing economy. Can too much credit be a bad thing? I think it can.
• In tough times you need to make smart moves with your money. The Money Wise Coach shares 8 practical steps you can take right now.
• Save and Conquer emails congress for the very first time. You know, I got a signed picture from President Clinton back when I was in Jr. High. I don’t think it was really his signature though…..blast.
• Money and Such shows you exactly where the money is coming from for the bailouts. Just in case Ron Paul didn’t tell you already : )
• Saving To Invest looks at a few of the company executives the FBI is looking at.

Career

• Free Money Finances shares how to handle salary negotiations. Yay for more money.
• American Small Business News shares some time management tips for small business owners. Hey, that’s me!
• Working from home? A pipe dream, right? Nope, Money Smart Life shows you 6 places to start when looking for pajama work. I’m kidding about the pajamas. I prefer a robe : )

Credit and Debt

• The Happy Rocks finds out where you can watch "In Debt We Trust" online for free. Cool beans.
• Pigs do fly. Passive Family Income shares a story where their credit card company goes out of their way to make less money (but keep a customer for life!)

Taxes

• Budget Are Sexy (heck yes they are!) shares the magic number for Obama and McCain’s tax debate. Let’s just say I’m in the lower camp!

Real Estate

• Searchlight Crusade looks at how some homeowners are taking advantage of the currrent choas and buy a new home, while they bail from their upside-down one.
• The Financial Blogger looks at why banks don’t want to be in the real estate business.
• Money and Fitness breaks down the cost renting out or selling your house.
• Beyond Paycheck to Paycheck examines the first time home buyer tax credit that isn’t really a tax credit.

Reviews

• Ask Mr Credit Card reviews the book, Debt is Slavery.
• The Financial Wellness Project reviews "The Richest Man In Babylon".
• A Dawn Journal interviews best selling author Ernie Zelinski.

Misc.

• Everyone collects something, right? Back when I was a kid it was basketball cards and a brief period of POGS. Glad that was a short fad. Regardless, Mighty Bargain Hunter has some tips for new collectors.
• The best financial advice my dad ever gave me? Stay married! (I have to get married first!) Sound Money Matters has some great tidbits of the best financial advice her dad shared with her.
• Christian Personal Finance is participating in the 10 day give challenge. I’m going to do this too!

Bloggers! Don’t forget to submit your best stuff this week for next week’s carnival.

And subscribe to DebtKid. I love watching numbers actually go up in my life!