Carnival of Personal Finance #270, the Elvis is Dead Edition

Today is the 33rd anniversary of the death of Elvis, so I’m bringing you the “Elvis is Dead” edition of the Carnival of Personal Finance.

What can the King teach us about finance?  The immediate lesson is, of course, to not let success destroy you or your life.  Always remember what is important.

“Adversity is sometimes hard upon a man; but for one man who can stand prosperity, there are a hundred that will stand adversity.” -Elvis Presley

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Editor’s Picks

“When I was a child, ladies and gentlemen, I was a dreamer. I read comic books, and I was the hero of the comic book. I saw movies, and I was the hero in the movie. So every dream I ever dreamed has come true a hundred times…I learned very early in life that: ‘Without a song, the day would never end; without a song, a man ain’t got a friend; without a song, the road would never bend – without a song.’ So I keep singing a song. Goodnight. Thank you.”
-From his acceptance speech for the 1970 Ten Outstanding Young Men of the Nation Award. Given at a ceremony on January 16, 1971

Craig Ford from Money Help For Christians presents How to Buy Cars With Cash. This is great advice.   My car will be paid off in the next few months and I will be doing exactly this.

FMF from Free Money Finance presents Are Tattoos at Work Really That Acceptable? Do tattoos limit your career? I reference this graphic when thinking about a tattoo.

Pop from Pop Economics presents Getting a raise: The negotiation.   It’s always best to raise your top line as high as possible.  Bringing in more money is far more effective that simply reducing your expenses.

Money Management

I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants. -Elvis Presley

Kevin from Financially Poor presents Five Money Saving Tips for the 21st Century.  I expand and combine tips 3 & 4.  Every few days, I take all of the one-dollar bills out of my wallet and put them in a box, out of sight.  Last week, this became the “walking around money” while we were on vacation.

Nicole from Nicole and Maggie: Grumpy Rumblings presents What to do with a windfall?, and says, “Nicole of Grumpy Rumblings needs help figuring out what to do with $24K in the bank that she didn’t expect to have. Can you give her suggestions?”  I have a credit card with a balance that almost matches the windfall, so it’s a no-brainer for me.   Why don’t you leave Nicole a comment with what you would do?

Bob from Christian Finances presents Money Mentors: Where to find them, and says, “Everyone needs coaching from time to time, finding a money mentor is important to our financial success… ”  One of my closest friends is a banker, so I turn to him often.  Where do you go for financial advice?

Paul Williams from Provident Planning presents 2 Reasons Why Christians Should Think About Earning More Money, and says, “Some people think Christians should live purely spiritual lives and avoid money as much as possible. But here are two good reasons why Christians should actually think about ways they can make more money.”

B Simple from Simple Financial Lifestyle presents Have You Audited your Personal Finances?, and says, “By auditing your finances you will not automate and forget about them. This can actually save you money.”  It’s important to watch your finances, so nothing gets forgotten.  I have a quarterly reminder set up in my life calendar to examine my finances.

Doctor S from Finance Your Life presents Reflection as Finance Your Life Turns Two, and says, “I did not even realize that my blog’s 2nd birthday had come and gone, but it gave me the opportunity to look back and reflect on it all. It’s great to save money, be frugal, and be smart with your money. But are you happy doing it? That’s the real question”  Happy blogiversary!

Finance

Remember the tortoise and the hare
Who had that famous race
The speedy hare wound up nowhere
And slow poke took first place

As sung by Elvis Presley(Words & music by Tepper – Bennett)

Eric from Narrow Bridge presents Starting a Small Business: Series Wrap-up.  This is the end of a series on starting a small business, with a handy index to the entire series.  I recommend reading the rest of the series.  It’s well worth the time.

ispf from Grad Money Matters presents Student’s Guide to Travelling Overseas on a Budget.  When I was 18, I was planning a trip to backpack Europe, when life changed my plans for me.  This is excellent advice for anyone considering something similar.

Investing

Bright light city gonna set my soul
Gonna set my soul on fire
Got a whole lot of money that’s ready to burn,
So get those stakes up higher

As sung by Elvis Presley(words & music by Doc Pomus and Mort Shuman)

Big Cajun Man from Canadian Personal Finance presents The Parable of the Good Wine, and says, “When you set a goal for your money, make sure you pull the trigger on your goal, don’t wait too long either.”

FT from Million Dollar Journey presents How to Calculate the Dividend Payout Ratio, and says, “How to Calculate the Dividend Payout Ratio! ”  This post reminds me that there is always more to learn.

D4L from Dividends Value presents 10 Stocks With Sustainable Dividend Growth, and says, “In the past we have looked at the importance of a company’s ability to sustain its dividend. However, as an investor in dividend growth stocks, it is not enough to simply sustain the dividend – I want to own companies that are capable of sustained dividend growth. Needless to say, this is a little more difficult to evaluate, but here are few important things to consider…”

Mike Piper from Oblivious Investor presents Benjamin Graham on Asset Allocation, and says, “Should your asset allocation depend at all upon current interest rates or stock market price levels?”

Simon Zhen from Realm of Prosperity presents 5 Wrong Ways to Invest in Stocks.  Following fads is not a sound investment strategy.   Bucking the fads is a better plan.  Buy when everyone else is selling and sell when everyone else is buying.

Jacob A. Irwin from My Personal Finance Journey presents Vanguard vs. Fidelity – Which Funds Are Better?, and says, “An investigation of how Vanguard and Fidelity index funds compare based on fees, account minimums, and ease of use.”

Neal Frankle from Wealth Pilgrim presents Retirement Asset Allocation For Peace of Mind, and says, “You might be wondering what the right asset allocation is as you get closer to retirement. It’s the second most asked questions behind,’How much do I need to retire?'”

Arjun R. from Investing Thesis presents How To Make Your Mortgage Interest Tax Deductible, and says, “For US homeowners, mortgage interest is automatically tax deductible. But for Canadians, the write-off is not so straightforward. In order to make your mortgage interest tax deductible, homeowners must be able to prove that the money is being reinvested and is not being used for personal expenses.”

Dan Bortolotti from Canadian Couch Potato presents When Couch Potatoes Go Bad.  “End of the world” predictions are always fun.  I mitigate that risk by investing heavily in precious metals: primarily brass and lead.

Craig from Free From Broke presents Why Should I Invest In Bonds?, and says, “Bonds aren’t as sexy as stocks but they are still important investing vehicle that we should understand.”  I prefer all of my investments to be sexy.  It’s amazing how few stock certificates come with seals that resemble sexist mudflaps.  Definitely disappointing.

Budgeting

Truth is like the sun. You can shut it out for a time, but it ain’t goin’ away. – Elvis Presley

RJ Weiss from Gen Y Wealth presents Why Bother Creating a Budget?, and says, “The more I discuss budgeting with members of Gen Y, the easier it is to see that most people go about budgeting the wrong way.”  Creating a budget is just the first step.

Saving

Well it’s Saturday nite and I just got paid
A fool about my money don’t try to save
My heart says go, go
Have a time ’cause it’s Saturday nite babe
And I’m feelin’ fine

As sung by Elvis Presley(words & music by Blackwell – Marascaleo)

Money Beagle from Money Beagle presents No Surprises: How To Never Be Surprised By A Utility Bill, and says, “Keeping an eye on your usage during the billing period can prevent any surprises, which are never good in this scenario!”  I took the easier route and went on the budget-pricing plan.

Lauren from Richly Reasonable presents Why are you saving?, and says, “Are you hoarding money or are you saving money? There is a difference. Hoarding for the future implies that you fear what’s to come. Saving for the future implies that you are planning for what’s to come. Being thrifty is difficult during good times, however, in a down economy, like the one we are in now, many people turn to thrift not only out of necessity, but also out of fear.”

Doug Warshauer from Doug Warshauer presents How Social Security Calculates Your Benefit, and says, “Social Security is too important to most people’s retirement plan to not understand how your benefit will be calculated. Here’s how it works.”

Squirrelers from Squirrelers presents Making $400,000 yet Living With Mom and Dad, and says, “A young person with a high income lives at home, showing the ability to distinguish wants from needs, and reaping the benefits of saving while young.”

Sun from The Sun’s Financial Diary presents Rent Textbooks To Save Money.

Frugality

I look at my window
and what to I see
I see a bird
way up in the tree
I want to be free free
Free – ee – ee – ee
I want to be free
like the bird in the tree
I want to be free
like the bird in the tree

As sung by Elvis Presley(words & music by Jerry Leiber – Mike Stoller)

Len from Len Penzo dot Com presents 18 Things You (Supposedly) Should Never Pay For. Ever.

Debt

Well my hands are shaky and my knees are weak
I can’t seem to stand on my own two feet
Now who do you thank when you have such luck?

As sung by Elvis Presley(words & music by Otis Blackwell – Elvis Presley)

Jeff from Sustainable Life Blog presents Getting your Swagger Back, and says, “After reading stories of people thousands and thousands of dollars in debt, you decide it’s time for you to pay off your debt. All of the sudden, you realize you’re one of the people you’ve been looking down upon. Here’s how to keep the motivation going.”  I’m one of the people I used to look down on.  Now, I’ve learned not to look down on too many people.  Their stories may surprise you.

ctreit from Money Obedience presents How to Eliminate Debt with an Upside Down Mortgage , and says, “Pay off your mortgage one installment at a time, month after month and you will be OK in the long run.”

Credit

You look like an angel
Walk like an angel
Talk like an angel
But I got wise
You’re the devil in disguise
Oh yes you are
The devil in disguise

As sung by Elvis Presley

Consumer Boomer from Consumer Boomer presents How Important is Your Credit Score, and says, “The three numbers that make up your credit score can have a significant impact on several areas of your life. While most people understand the importance of having good credit, not every consumer is aware of just how many people will view this number in your lifetime.”

Miranda from Moolanomy presents 5 Tips for Choosing Your First Credit Card.

J. Money from Budgets Are Sexy presents Ahhhhh I did something so freakin’ stupid!, and says, “I used my CREDIT CARD instead of my DEBIT CARD at the ATM last week! THREE different times!”  I recommend hooking a taser up to the card you don’t want to use by default.  It will never be a problem again.  As a side note, did you know that hitting a credit card with a stun-gun makes the coolest patterns of sparks across the card?

Cara Henis from Taking Charge presents My disagreement with credit card agreements.  Does anyone actually read the 10 pages of legalese that is a credit card agreement?

PT from PT Money presents Loan to Pay Off Debt: Should You Get One?, and says, “It’s dangerous and foolish to think that a loan can help you “pay off” debt. It should only be used as a measure to assist you in an already active debt reduction plan, and only by someone who has given up on credit as a means to finance their lavish lifestyle.”

Silicon Valley Blogger from The Digerati Life presents How To Get Free Credit Monitoring, and says, “Are there ways to get free credit monitoring? There certainly are. Find out the circumstances under which you can track your credit for free.”

Danielle Liss from DanielleLiss.com presents An Update on CCCS and My Credit Score, and says, “I’ve been working with CCCS for 15 months and my credit score has increased by 75 points, not decreased like I originally thought it would. Silly me.”  I generally discourage credit counseling, but it’s nice to see it working for someone.

Suba from Wealth Informatics – Financial freedom through information presents Credit Scores – different scoring models, and says, “There are different types of credit scores. FICO is the most widely used score by the lenders. But most companies offering “credit scores” are not the FICO scores. They might be very different. So consumers should know what they are getting. I explain the differences between the scores and what factors go in each of them to derive that score.”

Mr. Credit Card from Ask Mr. Credit Card presents Overseas Checklist for Credit Card Users.  This is an excellent list for planning your finances during an overseas trip.

Career

Follow that dream, I gotta follow that dream
Keep a-movin, move along, keep a moving
I’ve got to follow that dream wherever that dream may lead

As sung by Elvis Presley(Words & music by Fred Wise – Ben Weisman)

Briana Ford from Go Banking Rates presents Everything You Ever Wanted to Know About Your Employer’s 401(k), and says, “Here’s everything you could possibly want to know about the employer-sponsored 401(k) account.”

Kristina from Dinks Finance presents Education Equals Debt. But Not a Job., and says, “A college education does not always lead to a career, especially in this tough economy when unemployment is at a high, and a lot of companies have a hiring freeze.”

Economy

You can burn my house,
Steal my car,
Drink my liquor
From an old fruitjar.

Do anything that you want to do, but uh-uh,
Honey, lay off of my shoes
Don’t you step on my blue suede shoes.
Well you can do anything but lay off of my blue suede shoes.

As sung by Elvis Presley(words & music by Carl Perkins)

Ryan from Obsessed Analytic presents What to Know About the US National Debt, and says, “The US National debt is a complicated and confusing issue but has the ability to greatly impact our long term finances.”

Other

Memories, pressed between the pages of my mind
Memories, sweetened through the ages just like wine

Quiet thoughts come floating down
And settle softly to the ground
Like golden autumn leaves around my feet
I touched them and they burst apart with sweet memories,
Sweet memories

As sung by Elvis Presley(words & music by Bill Strange – Scott Davis)

Crystal from Budgeting in the Fun Stuff presents I’m Behind the Times, and says, “I never thought it would be so hard to find an electronic scheduler…”

Jeff Rose from Good Financial Cents presents What Happens When Your Bank is Seized by the FDIC?, and says, “One of the issues that many people have been concerned with during this recession is what happens when a bank is seized by the FDIC. This is a matter of concern because the recession saw quite a few bank closings, and there are still hundreds of banks still on the FDIC watch list for potential failures. As of the end of last month (July 30th) according to the FDIC, there have been 108 bank closings year to date. While the worst is presumed to be over, you never know when your bank could be taken over by the FDIC.”

Kim Snider from Kimmunications from Kim Snider presents What You Should Know About Disability Insurance, and says, “See how disability insurance is an important part of your financial plan.”  I’m a big fan of insurance.  I’m probably a bit over-insured.

Amanda from My Dollar Plan presents New Gift Card Law Limits Fees & Expiration, and says, “This article looks at new laws surrounding gift card fees and expiration rules. Good news: they benefit the consumer!”

Tom @ Canadian Finance Blog from Canadian Finance Blog presents Money, Happiness and Experiences, and says, “We should all know by now that money can’t buy you happiness. Well, maybe that was because they were just spending the money wrong.”  Money can buy happiness, but it can’t buy me love.

Mike from The Financial Blogger presents Virtual Assistant; Do You Need a VA?, and says, “Outsourcing some of the work may help you get more job done.”  I want a VA.  I just wish I had a need that would justify one.