• About
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

The Best of the Best in Money and Personal Finance #15

By Len Penzo

Thanks for reading, and if you haven’t subscribed to my RSS feed yet, please consider doing so! It would be an honor to have you on board! πŸ™‚

Welcome to the fifteenth edition of The Best of the Best in Money and Personal Finance blog carnival, where every featured post is an Editor’s Pick!

By the time you read this I will be sitting at some blackjack table in Las Vegas, with my posse of amateur card counters, trying to take the house for all its worth.

I hate to admit this, but the last time we were in Vegas my posse managed to lose our entire bankroll before finally leaving town with our tails between our legs.

It wasn’t a total loss though.   We did manage to get the pit boss at one casino to comp us a few steak sandwiches.   Sucker.

Anyway, the selections for this edition of the Best of the Best were based upon those bloggers that correctly guessed the number of Sin City casinos that begged my crack card counting crew to come back and try our luck again after our last pitiful attempt at breaking the bank.

The correct answer:   All of them.

Now here’s something you can count on.   For the month of May I received 91 qualifying articles for consideration, excluding the prodigious amount of spam, and other flotsam and jetsam that I typically receive every month.

As always, it was a pleasure reading everyone’s submittals again.   Thank you all for contributing and if you didn’t make it this month, please try again next month!

Here now, in no particular order, are the best of the best in money and personal finance for May 2010:

Kim Luu presents 5 Good Habits for a DIY Investor Using the Internet posted at Money and Risk saying, “This article is meant to serve as a wake up call that you always need to do your own research when it comes to money.”

Let’s kick off this rousing edition of the best of the best with a nice piece from Kim who outlines some terrific advice on how to effectively do your own investment research on the Internet.   I know what you’re thinking.   Why should I take the time to do my own research, Len, when I can rely on gurus like Dave Ramsey to tell me what to do? Hey, good point!   Perhaps there is an intelligent carnival contributor out there who would like to take a stab at answering that vexing question?

Mike Piper presents Dave Ramsey Gives Bad Investment Advice posted at The Oblivious Investor saying, “While Dave Ramsey has successfully helped many people get out of debt, his investment advice is downright awful.”

Thanks, Mike.   I knew I could count on you.   (But now it looks like I better reexamine my investment portfolio.)

Jeff Rose, CFP presents Choosing Between 30 Year Mortgage Rate Vs. 15 Year Mortgage Rates posted at Good Financial Cents asking, “What is the true cost of home ownership? (Here’s) a closer look at which is best between a 30 year fixed mortgage rate or a 15 year fixed mortgage rate…”

Somebody who never gives bad advice is Jeff Rose, who goes through the machinations to help you decide whether a 15- or 30-year mortgage is best for you.   I am happy to see that Jeff and I decided to follow the same mortgage strategy – for the exact same reasons too.

FMF presents The Ten Worst Money Mistakes Anyone Can Make posted at Free Money Finance saying, “If you want to be wealthy, spend less than you earn for a long time AND avoid these ten moves that can derail the best of net worths.”

In this post, FMF lists his top ten ways to avoid financial disaster.   I see “Taking Investment Advice from Dave Ramsey” was not on the list.   (That was probably #11.)

Tom presents Dirty Car Dealership Tactics posted at Canadian Finance Blog saying, “Ever wondered how car salesmen try to scam you? Here are a couple of ways my wife and I caught one dealership trying to rip us off.”

A car salesman scamming a customer?   Really?   Sorry, Tom, but I just can’t believe it.

Bob presents Common Characteristics Of Those Who Thrive posted at Christian Finances saying, “Financial challenges come to us all – but these are some of the common characteristics of those who continue to thrive during tough times…”

Guest poster Jay Peroni went on a quest to find out the differences between those who did well in difficult times and those who didn’t.   To find out, he conducted almost 600 interviews. His research found that only five percent of those people moved forward financially in 2009.   Incredibly, the other 95% experienced tough times and fell deeper into debt.   Find out the five major characteristics that set apart the five percent of those who thrived from those who didn’t.   And, speaking of tough times…

Jacqjolie presents Am I Raising a Dumpster Diving Kid? posted at Single Mom, Rich Mom.

First off, let me say I really really really enjoyed this post, Jacqjolie.   Now in order to answer your question let’s examine the facts.   Exhibit A: You let your son pick up – and eat! – abandoned bags of popcorn and cotton candy in a public movie theater.   Exhibit B: Heck, who needs an Exhibit B?   After Exhibit A, I don’t think we’ll be waiting too long for Judge Judy to come out of chambers with the verdict.

PT presents 104 Ways to Save Extra Money posted at PT Money saying, “Lots of ways to save. Something for everyone!”

In tip number 89, PT says, “Four chickens on a quarter acre of land provide free eggs, natural insect control, and free fertilizer.” Not to mention pissed off neighbors who have to deal with the accompanying noise and, um, aroma.

Carmen presents What Type of Credit Card Should I Get? (Infographic) posted at GoBankingRates saying, “There are so many types of credit cards available these days that it’s hard to know how to pick between them all.   Take a look at the flow chart and answer the questions to see which card is perfect for you.”

Shame on you, Carmen.   (Do you happen to have an application for the Black Card?)

Jacob presents Are You Suffering from Careerism? posted at Early Retirement Extreme.

According to Jacob, “Careerism is the idea of concentrating your ‘being the best you can be’ efforts on your workplace or work activities.” While that can be a noble endeavor,   Jacob addresses instances when careerism can actually turn out to be a frustrating exercise in futility.

Katie Sorene presents The Ultimate Hotel Booking Guide: 62 Tips That Will Save You Money posted at Travel Blog – Tripbase.

Tip 45: Pretend the mini-bar isn’t there.    (Well, to be fair, nobody said these tips had to be realistic.)

The Investor presents Invest in Antique Furniture posted at Monevator saying, “For once, spending money on the good stuff will actually make you richer in the long-term, not poorer. Read on to find out how!”

After reading the Investor’s decision to go “open kimono” and admit that he actually buys furniture from Ikea, well, let’s just say I haven’t been this devastated since the day I found out Santa Claus was just a big ruse.   Can we talk, Investor?   The thought of you sitting on the floorboards of your London apartment – along with 2,473 screws and wood slats – trying to put together one of those uncomfortable Ikea futons, well, that’s tough to digest.   You are the Investor, for God’s sake!   I’ve always pictured you sitting on the type of antique furniture the late great Alistair Cooke used to sit on! Like in this picture.   Tell me you aren’t really sitting on this.

And with that, this carnival is officially over.   Thank you everyone for reading!   And remember, this carnival would not exist without your terrific articles.   πŸ™‚

Please send your entries for the June 2010 edition of the Best of the Best in Money and Personal Finance using our carnival submission form. For more information, check out our carnival index page.

As a friendly reminder, please please please stick to the carnival guidelines. I receive several excellent articles every month that have to be disqualified because they were posted in the wrong month.

Submissions for the next carnival should include only posts written during the month of June 2010.

Now I’m off to Vegas.   Wish me luck!   I’m gonna need it.

8 Comments June 6, 2010

Comments

  1. 1

    Single Mom Rich Mom says

    Thanks for picking my post on my dumpster diving kid Len!

    Yup, there is that 5 second rule that he’s not following – as well the 5 second rule usually only applies to YOUR OWN food! LOL

    On a brighter note, I took him garage saling yesterday and he saved me a few bucks with his killer negotiating tactics. πŸ™‚

    Have a great time in Vegas! – can’t wait until the kid is old enough to help mom gamble out there (or limit my gambling… or give me money when I run out…)

    Reply
  2. 2

    Kim @ Money and Risk says

    Len, thank you so much for picking my post. I’m very honored to be here.

    I hope you break the banks in Las Vegas. Have fun for all of us. I enjoy Las Vegas but rarely get to play when I’m there for business.

    Reply
  3. 3

    Tom @ Canadian Finance Blog says

    Honoured to be included Len… try not to lose all your money this time!

    Reply
  4. 4

    Steven and Debra says

    Len,

    Leaving town with your posse of card counters, empty wallets and your tails between your legs is much more preferable than finding yourself at the bottom of Lake Powell wearing concrete boots.

    So, we’re somewhat reluctant in wishing you and your posse of card counters too much success. Maybe just a wee bit of success πŸ™‚

    Reply
  5. 5

    Roshawn @ Watson Inc says

    Vegas… what fun. Try not to lose too much money, or better yet, make some πŸ™‚

    Reply
  6. 6

    Monevator says

    I’ve spent a week trying to decide how to respond to your legitimate devastation Len.

    All I can do is explain that while I’m very much Alistair Cooke in spirit, I am fighting a guerrilla war against the London property market that means I have to move lightly and live off the land.

    I could go Full Cooke right now, but it seems rather half-cocked until I secure the oak-lined panel off Mayfair of my dreams.

    Reply
    • 7

      Len Penzo says

      Oh my. I didn’t mean to devastate you, Investor! Do not go full Alistair Cooke until you’re ready. Until then, I will continue to eagerly read your erudite and pragmatic – not to mention entertaining – articles over at Monevator. And for the record, I don’t really care where the chair you are sitting on comes from! LOL

      Reply
  7. 8

    Brooke in Las Vegas says

    Len, hope you bring a few guys from MIT with ya to Vegas next time so you have a fighting chance πŸ™‚

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Question of the Week:

Are you a better or worse financial manager than your parents?

View Results

Loading ... Loading ...

Recent Posts

  • 100 Words On: Why It’s Not Poor Etiquette to Put Ketchup on a Hot Dog
  • 6 Responsible Ways to Use Your Emergency Funds
  • 5 Affordable Ways to Upgrade an Outdated Bathroom
  • The 6 Most Valuable Grocery Store Products
  • Black Coffee: Out to Lunch
  • How to Set Up a Proper Gambling Budget
  • How to Guarantee a Social Security Disability Claim
  • Grandfather Says: Croc Hunting in Mindanao
  • How to Save Money on Dental Care So You Won’t Go Broke at the Dentist
  • 7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. In fact, making investment decisions based on information published here, or any other website for that matter, is more than unwise; it is folly. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Sometimes, an article may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Sign up for the weekly Len Penzo dot Com newsletter
Len Penzo dot Com Delivered Weekly
Join more than 40,000 readers and fans who enjoy personal finance and macroeconomics with an offbeat twist!
Invalid email address
Thanks for subscribing!

Popular Now:

  1. 1. The Great Paper Towel Test: Which Brand Is Your Best Value?
  2. 2. How a Broken Washing Machine Fixed My Finances
  3. 3. Tip Inflation: We’ve Got Nobody to Blame But Ourselves
  4. 4. Lottery Fraud: Don’t Get Caught Paying “The Stupid Tax”
  5. 5. What’s the Fastest Way to Pay Down Your Mortgage Early?
  6. 6. The Marriage Conundrum: Joint or Separate Accounts?
  7. 7. Why Time Is More Valuable Than Money
  8. 8. 25 Examples of Shrinkflation That No Longer Fool Consumers
  9. 9. Historical Gold & Silver Benchmarks for Wages and Commodity Prices
  10. 10. 4 Good Reasons Why Some Quarters Are Painted Red

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2022 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

© Len Penzo dot Com 2008–2022