Personal Finance Universe

This blog will help you with financial advice and decisions. For more information, search The Personal Finance Universe at www.thepersonalfinanceuniverse.com

Saturday, October 27, 2007

Marketers Use Trickery to Evade No-Call Lists

Older Americans around the country are getting duped by a seemingly innocuous tactic that can expose them to hard-sell pitches from the insurance industry.

The technique is centered on a marketing tool called the lead card, and it became popular after the federal government created its Do Not Call Registry in 2003 to shield consumers from unwanted solicitors. Sent through the mail, the lead card invites the recipient to mail off an enclosed reply for free information about, say, estate planning.

But the cards fail to warn that by sending off replies, recipients are giving up their right to avoid telephone solicitations from the sender -- even if their phone numbers are on the Do Not Call list.

"It's a huge loophole," says Pam Dixon, executive director of the World Privacy Forum, a San Diego nonprofit researcher of privacy issues including commercial use of personal information.
The technique is prompting legal action from states across the country. Because the loophole itself violates no law in most states, prosecutors are focusing their cases on other lead-card deceptions. The cards often falsely imply an affiliation with the federal government or with advocacy groups such as AARP, for instance. Many of the cards also fail to mention that replies will be turned over to insurance salespeople.

When Naomi and Horace Williams got a postcard warning that estates of older Americans could be wiped out by taxes unless they moved quickly, they believed it came from AARP, the Washington-based lobbying group for older Americans, since it said that "AARP found" probate taxes were hurting seniors.

So the Williamses filled out a reply card that promised more information and mailed it to a post-office box in Washington, D.C. Soon after came a phone call from a man saying he wanted to drop by their North Carolina home to deliver the information they'd requested. It never occurred to the Williamses -- who had registered on the Federal Trade Commission's Do Not Call Registry -- that the caller was a marketer. They assumed he was affiliated with AARP, they say.

As it turned out, the actual sender of the card had been America's Recommended Mailers Inc., a company housed in a Lewisville, Texas, strip mall that provides leads to insurance agents nationwide.

Soon after they mailed the reply, a living-trust marketer, and then an insurance agent, showed up at the couple's Morganton, N.C., home, Mr. Williams said in an affidavit filed in state Superior Court in Raleigh. Mr. Williams, an 83-year-old retired factory worker, says the agent talked him into transferring much of the couple's $179,000 nest egg into annuities that barred them from tapping the bulk of their money, unless they paid high penalties, until Mr. Williams was nearly 90. The commission on such products is typically 9.5%.

The marketer and the insurance agent worked for American Family Prepaid Legal Corp., an Irvine, Calif., living-trust provider, and its related insurance marketing company, which filed an affidavit generally denying wrongdoing as well as an affidavit from the living-trust salesman denying the Williamses' claim.

The agent received his lead from the postcard reply, according to North Carolina court filings. Meanwhile, the Texas attorney general is suing America's Recommended Mailers for alleged misrepresentations in its pitches. The company disputes the allegation, saying it merely quoted AARP. Nonetheless, it says it is revising its cards. After hiring a lawyer and complaining, the Williamses obtained the return of their nest egg.

Since the FTC created the Do Not Call Registry four years ago, Americans have registered 145 million phone numbers on the list, theoretically shielding themselves from phone solicitations.
But that measure gave new purpose to a growing breed of marketers known as lead generators. "Overnight," says a Web site run by Kaleidico LLC, a Flat Rock, Mich., company that sells software to the lead industry, the Do Not Call Registry made obsolete traditional methods of "prospecting for business" such as "auto-dialing." As a result, Kaleidico says, the new postcard niche has emerged -- a "marketing medium" that is geared toward prompting consumers to "raise their hand to be called."

Some cards gush about sweepstakes prizes, and returns may be used by marketers in any number of industries. But state regulators say the most ubiquitous type of card is delivered to seniors on behalf of insurers. Often plastered with American flags, such cards may cite "changes in your Medicare benefits" or mention "new legislation" passed by Congress that will "affect you and your heirs" -- along with references to research by federal agencies or AARP on how to handle such changes.

The research is offered free to those who send back contact information. Then the companies, some owned by large insurers, sell the names and contact information they compile to insurance agents and other salespeople.

The postcards often don't identify the mailers, using return addresses with oblique names such as "Central Processing Center." And they often ask for the respondent's signature, considered by some insurers as further consent to be contacted. "You have that hand-signed card with their phone number on it, and you sell tons," says Gary Brown, a salesman in Minneapolis until April for American Family, which buys leads from America's Recommended Mailers.

The Do Not Call law allows companies to bypass the registry and call people on the list if they have "provided express agreement in writing" to receive calls. But Eileen Harrington, deputy director of the FTC's Bureau of Consumer Protection, says the commission's view is that "you cannot use ruses" to get consumers to provide that agreement. Such mailers could be considered deceptive and violate the law, she says. Although the FTC has not yet gone after lead-card companies, she says the agency has some "nonpublic matters pending."

Attorneys general in Illinois, Pennsylvania and Texas have taken legal actions against a total of seven lead generators, charging them with falsely suggesting endorsements by the government or AARP. Regulators in about 20 states have opened fraud investigations into lead generators, according to a court filing by the Texas attorney general's office in one of the cases.

State regulators say insurers are using the cards to peddle investments unsuitable for seniors, including so-called living trusts that may provide no benefit and annuities that come with steep surrender charges and lengthy payout deferrals.

A case in point is Jeanne Blom, an 81-year-old widow in Minneapolis. A retired office-building cleaner, Mrs. Blom years ago transferred the deed of her house, worth $135,000, to her son, placed his name on her checking account and made him the owner of her 1990 Buick LeSabre. The rest of her assets were valued at far less than $20,000, which under Minnesota law would allow her son to collect them without probate, according to Charles Roach, her attorney. In any case, the probate fee in her county is only $250.

Mrs. Blom, who is registered on the Do Not Call list, received a postcard offering free information on estate planning, and she sent it back. Soon, an American Family saleswoman named Deborah Kimball called and set up an appointment to discuss a legal plan. When Mrs. Blom explained the steps she'd already taken, Ms. Kimball insisted that "I needed more than that," recalls Mrs. Blom.

American Family "sounded like they knew what they were talking about," says Mrs. Blom. So she purchased a living trust -- designed to save her the costs of probate -- for $2,295, about a third of her cash savings.

Mrs. Blom's case was one of many that prompted Minnesota Attorney General Lori Swanson to file suit against American Family in March, accusing it of selling living trusts and annuities that are unsuitable for older adults with modest savings. Attorneys general in North Carolina and Pennsylvania have filed similar suits against American Family, which has 10 offices around the country.

American Family denied the attorney general's allegations but in July agreed to shut down in Minnesota. Mrs. Blom, who lives on a Social Security payment of $900 a month, has been unable to get her money back. Her lawyer, Charles Roach, says that American Family's headquarters, after initially telling him it would look into Mrs. Blom's request for a refund, hasn't been returning his calls.

Ms. Kimball didn't return several phone calls seeking comment. Jeffrey Norman, the chief executive of American Family, declined to discuss a specific case but said, "We've had thousands and thousands of clients and hardly any problems."

Four of the country's largest lead generators are clustered around Fort Worth, Texas, and Attorney General Greg Abbott has sued them all in an Austin state court, accusing them of false and misleading practices.

In another lead-generator case, the Illinois attorney general, Lisa Madigan, has sued Senior Benefit Services Inc. and American Investors Life Insurance Co., two Kansas-based units of London-based Aviva PLC, one of the world's largest insurers. The suit, brought in state court in Springfield, alleges that Senior Benefit mailed postcards offering free advice that resulted in sales pitches for American Investors products. The complaint says that 393 Illinois residents over age 65 who returned lead cards bought 512 annuities worth $29 million between 2002 and 2005, resulting in commissions of $1.5 million to $2.9 million. The annuities were largely unsuitable for older investors, the claim alleges, because they barred access to the money put into the annuities for years without stiff penalties.

An Aviva spokeswoman says that the company disputes the Illinois allegations.

Mary Menges, a 70-year-old retired nurse in Collinsville, Ill., had signed onto the federal Do Not Call list. But in 2004 she replied to a Senior Benefit postcard that offered estate-planning information because she believed the card came from the government, Mrs. Menges said in an interview. Senior Benefit postcards filed as exhibits in the case don't say they came from an insurance marketer. In fine print -- about half the size of the regular print on the postcards -- is a disclaimer: "Not affiliated with any government agencies."

After returning the card, Mrs. Menges got a phone call from a Senior Benefit telemarketer, followed by a visitor who told her he was paid by the "program" that sent the card, and presented a business card with the title "senior estate advisor."
"I didn't know this was an insurance agent at all," she says.


During their meeting, she recalls, he "asked me what I had in stocks and bonds" and convinced her to move her $170,000 IRA, invested in mutual funds, to an American Investors deferred annuity. She says she only realized later that she was limited to withdrawing 10% a year. Any withdrawals beyond that sum were subject to a penalty as high as 17% in some cases, the state complaint says. After Mrs. Menges, with her son's help, made several phone calls to the insurer, wrote a letter of complaint and was declined in writing twice, she complained to the state.

Informal mediation through the state failed, so the attorney general's office started an investigation. Shortly after that, the company returned her money.

Michael Vaughan, an attorney representing the Aviva units, says the company has seen "no evidence" that Mrs. Menges's claims represent a "broad-based issue."

AARP has also been upset with lead generators. In April 2006 it won a permanent injunction in U.S. District Court in Jacksonville, Fla., prohibiting a company owned by ChoicePoint Inc., a big Alpharetta, Ga., seller of personal data, from referring to AARP on its lead cards and from using a Washington, D.C., return address unless it had an office there. In a settlement, ChoicePoint also agreed to destroy lead cards violating the injunction and paid an undisclosed sum to AARP.
ChoicePoint internal emails used as evidence in the case showed it was mailing more than a million lead cards a year and charged insurers as much as $35,000 per order for the mass mailings, including one in 2003 alerting older adults to a "new" AARP study on probate taxes. The study was then actually 14 years old, was done before a change in federal probate laws and, according to AARP, no longer represented its views. In internal emails, ChoicePoint employees attributed the cards' success in generating responses to their "fear factor" and described response rates that "tumbled" when AARP's name was temporarily removed from mailings.
ChoicePoint's spokesman says the "business practice" described in the settlement began before ChoicePoint bought its lead-generator unit in 2003, and that ChoicePoint stopped using AARP references after last year's settlement.

AARP has a similar complaint pending against America's Recommended Mailers and American Family Prepaid in U.S. District Court in Durham, N.C. AARP alleges that America's Recommended Mailers uses cards that appear to come from AARP to generate leads sold to American Family and others. America's Recommended Mailers has denied the claim. American Family said in a court filing that it bought lead cards on "good faith" belief that the cards didn't violate laws.

North Carolina court filings against American Family say "deceptive" mailers enabled the company's agents to visit 2,000 North Carolina residents over age 65 in their homes in 2004 and 2005. The state says they bought $4.2 million in living trusts and millions of dollars in equity-indexed annuities that were unnecessary and unsuitable.

Write to Jennifer Levitz at jennifer.levitz@wsj.com and Kelly Greene at kelly.greene@wsj.com End of Story

Labels:

On a need-to-know-everything basis

Work gets personal when you enter the online world of social networking
SAN FRANCISCO (MarketWatch) -- If you've never poked a colleague or been bitten by a co-worker's zombie, you're probably not on Facebook. If you are, you're probably "friends" -- or the online equivalent of such -- with dozens, if not hundreds, of co-workers, business associates, family members and real-life pals.

People can read your profile, see your photos, learn about your musical tastes, religious beliefs and political affiliations, or any other of a variety of likes and dislikes that in the past would have stayed relatively private. The same can be said of MySpace and other social-networking sites.

You can write public comments on a person's "wall" or send silly messages -- such as Facebook's "you've been poked" or "my zombie bit your zombie," complete with monster image -- all in the name of pointless fun.
Perhaps more startling: You're likely to discover more than you really wanted to know about, say, a business acquaintance's sexual proclivities.
Whatever your take is on Facebook, MySpace and the like -- a time-sucking ego trip or a welcome daily addiction -- there's no denying they represent a new level of information-sharing.
"Social networking is having more of your self out there at a professional level. It's drawing that line between what's professional and what's personal," said Charlene Li, an analyst with Forrester Research.
"There's a very fine line to walk in terms of how personal you want to get," she said. "Some people draw it more to the professional, some more to the personal."
There are a slew of social-networking sites, but some say the up-and-coming online water cooler for midcareer professionals is Facebook. LinkedIn is relentlessly focused on professional networking, but doesn't offer an opportunity to share your favorite book or your weekend plans.
MySpace versus Facebook
MySpace (NWS:
news corp cl b
Last: 23.00+0.03+0.13%
4:01pm 10/26/2007
Delayed quote data
Sponsored by:
NWS
23.00, +0.03, +0.1%)
is used for networking -- the site boasts more than 50,000 groups devoted to professional organizations, and it dominates in terms of size with 68 million U.S. users versus Facebook's 31 million, according to comScore Inc. But its look and feel often appears aimed at people who are more interested in "seeking fun" than finding business contacts. Still, MySpace is rolling out changes in coming weeks, and some industry experts say those changes may aim to offset that "young and fun" perception.
Facebook claims that, since opening its doors beyond just college students about a year ago, users 25-and-older are its fastest-growing demographic, and if wealth signals "professional," it may have a higher proportion of them on its site: 50% of Facebook users are from households earning more than $75,000 compared with 40% of MySpace users, according to comScore data for September. This week, Microsoft Corp. (MSFT:
Microsoft Corporation
Last: 35.03+3.04+9.50%
4:01pm 10/26/2007
Delayed quote data
Sponsored by:
MSFT
35.03, +3.04, +9.5%)
signaled its confidence in the privately-held company by paying $240 million for a 1.6% stake, bringing Facebook's valuation to about $15 billion. See full story.
Information overload?

No matter which site you gravitate towards, the chances for unexpected revelations are high. That might not be an issue for the millions of kids and college students who joined when social networking was in its infancy. For them, online profiles are the norm.

But for those whose birth predates the Internet, the realization that colleagues can follow your every move, if you choose to post that information, can be startling, and learning more than expected about business associates can be off-putting.

Still, some don't find it a problem. "I've learned a lot about friends' religious views, their sexual preferences, that I didn't know before," said Christopher Elliott, a syndicated travel columnist for Tribune Media Services. (Disclosure: I'm "friends" with Elliott on Facebook; we've never met, but he has been a source for me for travel stories.)

"One would hope that in the 21st century people are going to be open-minded enough, accepting enough, that that wouldn't interfere with their ability to do business," Elliott said.
Plus, "it gives you a fuller idea of who they are ... maybe you know not to offend someone's religious beliefs, for instance."

Companies restrict use

Companies are worried about the risk of sharing company secrets and the time spent on such sites. Their response? Restrict workers' access. Fifty percent of workers in an online poll said their company limits access to Facebook, according to Sophos, a computer security company based in Oxford, England and Boston, Mass., which polled visitors to its site, most of whom are information-technology workers.

Some companies are saying "I'm going to put a kibosh on Facebook," said Li, of Forrester. But that's a short-sighted response, she said.

"Having your employees better able to communicate with each other is always a good thing, whether that communication happens on your own network or outside of it," Li said.
Plus, connecting with customers and clients offers opportunities for sales and support, not to mention the potential benefit of connecting on a personal level with customers, she said.
Larry Kramer joined Facebook in part because his business involves studying media and technology companies. Kramer, founder of MarketWatch, the publisher of this report, is now a senior adviser at Polaris Venture Partners, a venture capital firm in Waltham, Mass.

He knows at least 200 business associates who are on Facebook. "It allows people in our world, who are busy and doing lots of things, to observe what each of us is doing without having to leap in, without having to have a conversation," he said.

"The jury's still out on how successful it will prove to adults," he said. But "it's getting a lot of traction right now. It's very clever using RSS feeds and news feeds to keep you in touch with people you know. There are interesting things you learn from it without having to be proactive."
And people can choose to connect when the mood strikes. Kramer said he noticed the convergence of his personal and business lives when colleagues responded to photos he posted of his son's Chicago Marathon experience.

"People sent me emails, asked questions about how dangerous was it," Kramer said. "I didn't know if they'd be interested or not, and they didn't have to look. It was like part of a conversation if I'd seen those people in person, but I don't see those people in person."

Another important element, Li said, is the fun. "There's camaraderie" in social networking. "Work has to have an element of fun," Li said. "Right now, it's a war for retention."

And some say Facebook is useful for work tasks. "I've used Facebook to show preview video to network television producers," said Lee Aase, a blogger who comments on Facebook at http://leeaase.wordpress.com/. Aase is also a manager in the Mayo Clinic's media relations department.

Setting some rules

Problems can and do occur, from the minor faux pas -- Kramer said he accidentally alerted a blogger about his new job when he updated his Facebook profile before his new employer sent out a press release -- to gaffes in which publicists have complained about the products they're supposed to be promoting.

Companies worry about their names becoming associated with workers who are veering more toward personal divulgences than professional demeanor. But, Li said, the solution is to offer suggestions for appropriate behavior.

Some companies are doing just that. The Mayo Clinic, for instance, is developing guidelines for employees who blog or participate in social networking sites, Aase said.
Other companies are embracing the possibilities. There are about 22,200 work networks on Facebook, many of which restrict access solely to employees.

Meanwhile, other firms are devising their own internal social networks, while some Web sites are creating other venues for social interaction. Consider Zecco.com, an offshoot of brokerage firm Zecco Trading, which allows users to download a summary of their portfolio so others can comment on their holdings. See full story.

Graver dangers

While certain personal divulgences may simply strike you as bad taste, some information shared on Facebook could lead to identity theft and other crimes, said Graham Cluley, senior technology consultant with Sophos, a computer security company. See tips for maintaining your reputation on social-network sites.

As a test, Sophos created a profile and then sent a "friend request" to 200 random Facebook users. Forty-one percent agreed to be friends and allowed the stranger to access all their information.

"Some people would put their postal address and cell phone number and then say, 'I'm going to Paris on holiday for two weeks,'" Cluley said.

"This is one of the real problems with social networks. People feel the need to unburden themselves about everything private going on in their life, not realizing that the world is watching." End of Story

Andrea Coombes is MarketWatch's assistant personal finance editor, based in San Francisco.

Labels:

You've got assets

Ten ways to supercharge your cash flow and avoid credit woes
SAN FRANCISCO, Calif. (MarketWatch) -- So your mortgage payment just ratcheted upward or an unforeseen event has shot the heart out of your finances. Don't succumb to money melancholy just yet.

In the grand scheme, you may have serious credit problems you need to reconcile with due haste. More immediately, what you have is what high-finance types call a cash-flow problem -- not enough income and reserves to cover your monthly expenses.

Before unloading your house on the cheap to avoid foreclosure or hitting your doctor up for a Prozac prescription, consider that many Americans have tens of thousands of dollars in assets and $1,000 or more in potential monthly income and savings they often don't realize are readily available to them.
"There are many steps you can take to improve your cash flow," says David Yeske, past president of the Financial Planning Association and a principal with the San Francisco-based firm Yeske Buie. "You just need to take a hard look at your options."

What follows are 10 ways to raise significant sums to overcome a sudden shortfall. Some involve sacrificing your future financial security. Others require eating a bit of humble pie -- but at least you'll be able consume it in your own home's dining room.

The big scores

Many of us are sitting on ten of thousands of dollars in retirement and college savings that we can access with minimal or no tax consequences or early-withdrawal penalties. Past Congresses made these allowances to help middle-income Americans get through hard times. These are sound ways to tap your long-term savings:
  1. Roth IRAs. Because these accounts are funded with after-tax dollars, all contributions can be withdrawn freely at any time. Contributions made by converting a traditional IRA to a Roth can be withdrawn if held in the account five or more years. Conversion contributions less than five years old will be subject to a modest 10% tax for early withdrawal. Avoid pulling out earnings because they're subject to both income tax and the 10% levy. That hit could approach 50% of the withdrawal, depending on your tax bracket and state and local income-tax rates.
  2. 529 College Savings Plans. You can withdraw funds you contributed with after-tax dollars to these accounts with potentially minimal tax consequences. The withdrawn money will be reported to the IRS on a proportional basis, as principal and earnings, depending on the account's performance. For instance, if your contributions produced a 25% return and you take out $10,000, then $8,000 will be tax-free and the $2,000 representing the gain will be taxable. At worst, you may owe up to $1,000 on that amount, so you reap $9,000 or more from your $10,000 withdrawal. If the account's earnings are much greater, this is a less attractive source to tap. You should not take out any contributions made by others such as relatives. And 529 accounts set up under the Uniform Gift to Minors Act are not accessible.
  3. Halt contributions to 401(k) and 403(b) plans. Many people overlook the fact they can suspend contributions to these employer-sponsored retirement accounts with their very next paycheck, Yeske says. Get yourself to HR and cancel these set-asides for the future -- but restart them as soon as you can after your crisis has passed.
  4. 401(k) and 403(b) loans. Many employers allow general-purpose loans from these savings plans. Such loans typically must be repaid within five years. The upside is the interest you pay on the loan goes into your account, along with your replenished funds. Just be sure to deploy the money strategically to get through your cash crisis and not fritter it away.
If you're really strapped and must withdraw money from your 401(k), 403(b) or tax-deductible IRAs be prepared to face that severe tax bite of up to 50% come filing time. If you hold off until this Jan. 1, you at least won't have to square up with the IRS until April 2009.

If you don't see your financial situation improving in the coming year, this move is strongly ill-advised unless you put aside the taxman's due in a lock box.

Monthly boosts

If you're sure it's impossible to get your income and expenses in line, think again. Many people can add $1,000 or more to their monthly income with minimal sacrifice. And since that's after-tax money, it represents about $1,500 or more you can put toward your mortgage, since your higher interest cost is tax deductible.
  1. Adjust your payroll-tax withholding to account for an increased mortgage payment. If your payment jumps $600 a month due to an interest-rate hike, that's all deductible and will give you an additional $7,200 tax write-off for a full year. That's a roughly $1,800 to $3,000 annual tax break -- depending on your bracket and state and local income taxes -- which means you could safely reduce your withholding $150 to $250 a month and boost your take-home pay that amount.
  2. Adjust your tax withholding to stop overpaying if you typically get a filing refund. The IRS reported in April that refunds issued this year averaged $2,394. So taxpayers on average give the feds an interest-free loan of $200 cash a month. Since our tax exposure changes from year to year, Brian Pon, a tax adviser with Berkeley, Calif.-based Financial Connections Group, recommends consulting your tax preparer to determine how to bring your withholding in line with your anticipated liability.
  3. Take a second job and send teenagers out to work. It seems like an obvious move, but many people under severe money stress freeze up like a deer caught in headlights and get run down financially. With the U.S. unemployment rate still below 5%, part-time positions are plentiful in most all job markets. The pay may be modest, but the added income could prove invaluable to your financial survival.
  4. Sell your late-model car and buy a reliable older one. If you have an auto loan costing $350 a month (or worse yet, two loans), you could apply the difference in the price you get for your car and the balance you owe to the purchase of an older vehicle, many of which now still look good and perform well with 100,000-plus miles. Not only will you eliminate the monthly payment (which could cover a $500 jump in your mortgage payment due to the tax deduction), you also could drop collision and comprehensive insurance required by auto lenders if you can bear that risk, saving perhaps $50 a month more. If you own your late-model car outright, bank the money you raise after buying an older one and draw off it to steer through your cash-flow squeeze.
  5. Get rid of your cell phones, high-speed Internet access and cable or satellite TV service. There was a time not long ago when we lived without these pricey nonessentials, for which many Americans pay $250 a month or more. If you're locked into a cell-phone contract, don't renew if it's soon to expire. If not, bite the bullet and pay the early-termination penalties. As for an Internet connection, default to a $9.95 a month dial-up plan until your fortunes improve.
  6. Increase your insurance deductibles. Many auto lenders allow borrowers to maintain collision and comp deductibles of up to $1,000. And many mortgage lenders permit deductibles of $3,000 to $5,000 on homeowners insurance. You assume greater out-of-pocket risk, but you could save $100 a month or more by raising your deductibles.
Of course, the most immediate boost to your cash flow will come from curtailing your spending. Due to our vast use of hastily grabbed credit and debit cards to make purchases these days, Yeske says, many of us don't realize how large a percentage of our spending is a matter of choice and not absolute need.

"Few human beings are mentally and emotionally wired for budgeting because it requires a high level of concentration to track expenses, dollar-by-dollar, on a daily basis," Yeske says. "But just keeping a sustained focus on your spending can do your cash flow a world of good."

Chris Pummer is a former senior editor for MarketWatch and Bloomberg News and a former reporter for such papers as the Los Angeles Times and San Jose Mercury News.

Labels:

NBC Teaches Personal Finance Lessons On "30 Rock"

NBC is taking the "workplace comedy" concept to new levels of realism, by including a couple of scenes about a major character's lack of a savings plan in this week's "30 Rock" episode. After being awarded a $10,000 "GE Followship Award" for being such a great follower, Tina Fey's character stuns her boss by revealing she doesn't have a 401(k)—or, apparently, even a savings account.

Jack: So Liz, what are you going to do with all that money? Put it in your 401(k)?

Liz: Yeah, um... I gotta get one of those.

Jack: Where do you invest your money?

Liz: I've got 12 grand in checking.

Jack: Are you an immigrant?

At the end of the episode, she asks Jack to teach her to "do that thing that rich people do where they take money and turn it into more money."

There's one other great life lesson from the same episode, when Jack says, "Never follow a hippie to a second location."

Labels: ,

Friday, October 26, 2007

The 123rd Carnival of Personal Finance (The Boo! edition)

Welcome to the 123rd Carnival of Personal Finance (The Boo! edition). October is a scary month. Not only is it home to All Hallows’ Eve, it is also home to some of the scariest stock market crashes in our history. For this edition of the CoPF, I’ll trace the history of some of the largest single-day market plunges that occurred in the month of October. To comfort us during these frightening times, I’ve also included some beautiful photographs taken by a good friend of mine (and used by his express permission). The pictures will help remind us that while personal finance is important, there are some things in life that money just can’t buy. So with that, let’s get on with the carnival. Each submission is organized by category, and I’ll begin with my selection of the best articles of the week.
Editor’s Picks

My Impulse Buy Savings Plan (@ Caustic Musings): “One of my unspoken personal vows to myself this year (call it an early New Year’s resolution) was to stop buying so much crap on impulse.”

How China Could Crash the US Dollar on a Whim (@ Currency Trading): “This article will go beyond forex reserves and discuss several other facets of China’s economy. From US house prices to global commodity prices, from interest rates to inflation rates, we will explore how China could cripple the US economy, both willfully and unintentionally, if so desired.”

Use Halloween to Teach Kids Money Lessons (@ Grad Money Matters): “How can one thing mean two totally different things to different people? Take Halloween treats for example. Kids are delighted by it. Parents, not so much. Candies filled with high fructose corn syrup and food coloring, and kids that are hyper-active with so much sugar intake that they literally bounce off the walls. It’s every parent’s nightmare and the perfect scary ending to the Halloween holiday! But here’s a trick that will sound more like a treat – this unsavory situation can easily be turned into a money lesson for kids!”

36 Important Money Saving Tips (@ Frugal Journey): “Over the past year, I’ve written 100’s of money saving tips, on a wide range of topics. Today, I’ve gathered all my favorites into one source. Now, the best of the best, is available right at your fingertips.”

Change Your Child’s Genetics By Giving Up The BMW (@ The Happy Rock): “We recently talked about financially changing your family tree as financial motivation, but for those of us needed some more convincing here is evidence that our decisions about money go much deeper than just dollars and cents.”

Why The Rich Get Richer: An Entirely Different Perspective (@ The Digerati Life): “It’s an age old question: how do the rich get richer? Here are some reasons that may explain this economic phenomenon.”

List of money related forums and discussion boards (@ Might Bargain Hunter): “Discussion boards are a great resource and a good place to exchange ideas with like-minded people or, at least, people with interests similar to yours. Anyway, I hope you find this list of money-related forums useful; maybe you’ll find a new favorite.”

the myth of the parent that NEEDS to work (@ brip blap): “Many couples claim to be “forced” to work two jobs to make ends meet, but is it really “making ends meet” when you don’t live a frugal lifestyle?”

I’m Responsible For One Of The Worst Interviews Ever (@ A Penny Closer): “After a few months at my new job an old work acquaintance (let’s call him David) contacted me to see how I was doing. I explained that I liked the new position with this smaller company and he asked if I could get him an interview.” And that’s when the trouble began.

Labels:

Thursday, October 25, 2007

BofA shakes up investment unit

After a poor showing last week, the bank will reshuffle managers and cut jobs in its Global Corporate and Investment Banking unit.



NEW YORK (CNNMoney.com) -- Bank of America announced Wednesday that it will restructure its investment banking unit, starting with that unit's president.

The bank said that Gene Taylor, president of the bank's Global Corporate and Investment Banking unit, will retire and be replaced by Brian Moynihan, current head of the bank's Global Wealth and Investment Management unit.

The bank also said it will eliminate about 3,000 jobs, most of which will be in the Global Corporate and Investment Banking unit, but other units will also be affected by the layoffs.

The changes come after losses in the unit's account totaled more than $1.45 billion, triggering a 32% decline in net income for the bank, compared with the same quarter a year earlier.

"While some of these changes are a direct result of our underperformance, others have been contemplated for a number of months as we looked at how we could operate more effectively," Bank of America's (Charts, Fortune 500) CEO Kenneth Lewis said in a prepared statement.

"We recognize that there are areas where we need to improve and are moving decisively toward that goal," Lewis added. Top of page

Labels: ,

Tuesday, October 23, 2007

Sree Advice: Sites For New Personal Finance Tools

NEW YORK -- A whole new generation of online personal finance tools is attracting a lot of attention these days. They help you track your money and save better, too. Some go as far as allowing you to selectively share your data with others, so they can advice you on how to save money, make money and more. It's a new world in the money business folks, now that Web 2.0 has arrived. Here are some to take a look at. Of course, you should experiment first till you achieve a level of comfort.

VIDEO: Sree Advice

Expensr.com: This site's tagline: "Where did all my money go?" That's the question it hopes to help you answer by helping you track your expenses and much more.


Wesabe.com: This site's tagline: "Get to know your money." It helps you do that by connecting you with your various accounts and selectively giving tips and advice from other users.

Mint.com:This site's tagline: "Refreshing money management." It provides ways to track your expenses and your assets and examines your data to provide alternatives that might save you money or get you better rates.

Some other resources:

YourCreditAdvisor.com's Top 25 Web 2.0 tools for Money, Finance & Investment

Wall Street Journal.com

LifeHacker on "Is Mint Ready for Your Money?"

GetRichSlowly.org's Budgeting for Non-budgeters

What do you think? Tell us by using this form.

Labels:

Monday, October 22, 2007

Best Frugality Posts from the Festival of Frugality #96

I’m a few days late on this one, but I was pretty busy this past week with closing the pool, a mid-term exam, work, our wedding anniversary, etc. But here it is! My highlights from the Festival of Frugality, hosted by Fire Finance:

  • Here at Clever Dude, I wrote about how my coworkers make fun of my coupons, but they use them anyway.
  • Encouraging Coach talks about simplifying Halloween. Twenty years ago, I used pillowcases to carry the candy and my mom made my costumes.
  • Opinion Mom touts the idea of “play clothes” to extend the life of your wardrobe. I also have work clothes, dress clothes and social clothes. For my work clothes, I use old tees, shorts and jeans. When I come home from work, I immediately change out of my dress clothes (and hang them up) and into my lounge-wear. I get MANY more wears out of my business clothes before sending to the dry cleaner this way.
  • Paid Twice is faced with a dilemma over getting her daughter stuff for her birthday “just because”. I can sympathize, from a receiving end. I have outright told my parents, Stacie’s parents, my grandma and even Stacie that I want no gifts for my birthday. However, grandma still gives me a small present, even on her fixed income. This year, it was a pink Ralpha Lauren polo shirt. Hmm, wrong color, and how did she afford RL? Sigh.
  • Money Blue Book tells of a secret way to get free coupons: ASK! Stacie gets crates of food because she’s a dietitian and simply asks. Unfortunately, they’re cases of Fiber One cereal and oyster crackers. Why can’t we get a case of Oreos???
  • And lastly, Saving Advice discusses the problem of “Social Obligation Expenses” (i.e. all your friends, family and coworkers pushing you to spend when you can’t or don’t want to).

And now it’s time to take a nap! Have a great weekend!


Labels:

Authors help women advance

By SARAH PACHTER McClatchy Newspapers
Published Saturday, October 20, 2007

Happiness for women no longer is determined by whether they marry Mr. Right and raise 2.5 beautiful children. Women today expect to have successful careers and need to be financially independent. Two books offer advice on how to attain both.

“Through the Labyrinth”
by Alice H. Eagly
and Linda L. Carli
(Harvard Business School Press,
273 pages, $29.95)

“On My Own Two Feet”
by Manisha Thakor and Sharon Kedar
(Adams Media, 185 pages, $12.95)

Do people resist women leaders? Do family responsibilities hold women back? Do women lead differently than men do?

These questions and more are addressed in "Through the Labyrinth: The Truth About How Women Become Leaders." Authors Alice Eagly and Linda Carli assert that the mythical "glass ceiling" preventing women from obtaining leadership positions is gone, as more women are becoming CEOs and top government officials. The labyrinth - a maze with dead ends at every turn - is a more appropriate metaphor, they say, so they explore the twisted paths women must traverse to achieve power in the 21st century.

Each chapter raises a question, which is then answered with psychological, statistical and anecdotal references. Although it is evident from the writing style that this text was authored by college professors, it also will appeal to nonacademics with its intelligent and clear-cut structure. The use of charts and graphs, as well as meticulous notes and reference sections, also makes this book a valuable resource for students, human resource professionals and executives.

Most of the book focuses on the reasons more women are not in higher leadership positions. The authors also suggest strategies women, men and organizations can implement to improve the environment for women who have leadership aspirations. Techniques they propose that women employ include establishing competence, taking credit for accomplishments, negotiating and networking.

They also stress the idea that men need to take more active roles in both their marriages and families so that women have the time and energy to succeed in business. Statistics show women still are the primary caregivers to their children and the main homemakers, even if both spouses work full time.

Women do have a much more difficult path to leadership than men, but this book proves this is not because they are less capable. Society, families and institutions each play large roles in the creation of the labyrinth. Changes in external factors and in women’s focus will help remove many barriers and create opportunities for more inclusive leadership.

The authors of "On My Own Two Feet: A Modern Girl’s Guide to Personal Finance" ask: "Have you been searching for a personal finance book that is short, inviting and easy to read? If so, your search is over."

This statement by Manisha Thakor and Sharon Kedar sums up the enticing qualities of this book. As the daughter of a business book guru, I have read many personal finance books, especially those geared toward women, but this one had the highest information-to-page ratio. In addition to chapters on the usual topics such as credit cards, credit scores, saving and investing, the authors include chapters on insurance, buying a home and car, and mixing love and money. Especially helpful was the chapter on priorities, in which readers are assured they can’t follow all of the book’s advice at once.

The only area in which I found it lacking was student loans, an important issue for young women (and men). Each chapter contained the requisite bullet points, tables, stories, statistics and summaries. Appendices added more specifics and references for further reading. This was not only a quick cover-to-cover read but also a handy reference guide worth keeping. As a first personal finance book for women, I recommend this book because of its brevity as well as its abundance of information.

Sarah Pachter is the daughter of Miami Herald business books columnist Richard Pachter and occasionally writes reviews for the newspaper. She can be reached at misspbc@gmail.com.

Labels:

Friday, October 19, 2007

Carnival of Personal Finance #121 - Columbus Day Edition

Carnival of Personal Finance #121 - Columbus Day Edition

Mr Credit Card : Welcome to the Carnival of Personal Finance #121 - Columbus Day Edition. Today’s event is a Q&A session with our leading presidential candidates. As the presidential candidates from both parties continue their campaign, the carnival of personal finance is pleased to announce that Senator Obama, Senator Clinton, Ex-Governor Guliani and Senator McCain have agreed to appear before personal finance bloggers for a question and answer session with regards to their policy platform. Please give our guest a round of applause.

Let us now begin.

Everyday Finance : I would like to direct this question to all of you. I am concerned about the weak dollar and how much it has depreciated against other currencies. The question I have is is the weak dollar driving US companies into the arms of foreigners? And are any of you concerned about this?

Senator McCain : We have to let the market forces determine the level of the US Dollar. But having said that, I am concerned about the dollar but I also think that once we get the war under control and our budget deficits under control, we will start to see a turnaround of the dollar.

Senator Clinton : In the 90’s, the United States had a strong dollar policy. Having said that, we were in a much better shape than the present. Right now, we have a massive deficit and an administration whose sole concern is the war and the dollar is suffering from this benign neglect.

Exjackly : This question is addressed to the two democrat candidates. I am a business owner and I am concerned about the democrats inclining to raise taxes. Since you took over congress, you have raised the minimum wage and it has affected many small businesses including mine. My business hires mainly students and simply cannot see why students should be benefiting from this bill!

Senator Clinton : As a society, those of us who are much better off cannot afford to overlook those at the bottom of the rung. But I would say that it is not just your business that will be affected, but even your competitors will be affected. I believe that in starting a business, all you need is momentum

Bewildement from the audience.

Mayor Guliani : As a republican, I really believe in letting the market forces determine what should be the appropriate wage. I fully understand the position of business owners like yourself. In fact, I can even show you how to live on minimum wage?.

Finance is Personal : The senate finance committee has recently questioned certain practices by credit card companies and as a result, we have practices like the universal default clause not being practiced anymore. I would like to ask all of you if you have any thoughts as to how we can change America to become a nation of savers rather than being a nation of debtors? Also, do you think will consumers warm up to credit freezes? since we have to pay for these services?

Senator McCain : All of us want Americans to be a nation of savers. Unfortunately, we are also a free country and that means that consumers should be able to choose whether to use credit and businesses are able to extend consumers credit. What I think is important is that perhaps we improve the means where consumers can get better educated on issues like how much credit is optimal?, or even how to fight back against debt collectors.

Senator Obama : I have to agree with Senator McCain on this issue. I think what the Senate Committee of Banking and Finance have done with regards to the credit card industry is very good. We have to ensure that credit card and finance companies provide more disclosure, eliminate fine prints and ensure they adhere to honest advertising. Consumers ultimately have to be responsible in how they use credit. When I was in college, I read brochures about tips for using credit cards. I can even tell you how we chose our credit card!

Home Finance Freedom : This question I have is this : Do anyone of you think that the mortgage tax deduction that we Americans have is distorting the housing market? Is this encouraging Americans to buys homes when they shouldn’t? Why should we get this tax break at all? This to me is an entitlement. In fact, because of the mortgage tax deductions, most Americans fall into what I call the debt free deception - housing myth. Most of us would be better off to pay off your mortgage and lose your tax deductions. For many people, buying is for suckers and why renting is the way to go.

Senator Clinton : The mortgage interest tax deduction has been around for a long time and the premise behind that is that we want to encourage home ownership among Americans. Home ownership is very much part of the American dream.

Mayor Guliani : Bear in mind that about 39% of Americans rent. Hence, I do not think the mortgage interest tax deduction distorts home prices.

Phil For Humanity : What are your thoughts on the recent sub-prime mess? What should regulators do to prevent such incidents again? Look at how Netbank has closed down. And what happens to property taxes of customers with bankrupt lenders?

Mayor Guliani : I honestly think in this situation, it is a new experience for every central bank and regulator. I’m pretty sure that regulators will look more closely at how banks mark to market their structured investments and also at sales practices by mortgage brokers. However, we have to let the market correct itself from any excesses. In fact, now may be the best time to purchase bank foreclosure properties.

Senator Obama : I can also show you a visual guide to finding HUD foreclosures

To laughter from the audience.

Flexo : One of the things that really alarm me is our budget deficit. Yes, we do have a war and I am really disappointed in Republicans who have not really kept an eye on spending. Yet, I am so concerned about the democrats love for social programs and the potential higher taxes that await us? This is probably a sweeping statement from me, but how would all of you respond to the huge budget deficit?

Senator McCain : I really think we have to go back to basics. I think the next administration and congress really need a budget you can stick to. And that means fiscal discipline. Yet there is the balancing act of making sure the economy grows.

Mayor Guliani : I always remember what my dad taught me about money, which is to never spend more than you earn. And I think we politicians have to get back to basics and all of you have to make us keep feeling guilty to spend money on anything. The budget deficit is simply unsustainable.

Senator Obama : I agree that we have to seriously figure out how to get out of debt?. The fiscal situation has gotten out of control. A big reason is obviously the war in Iraq. While we cannot rush a total troop withdrawal, we have to be extremely conscious about the fiscal situation.

Gather Little by Little : I would like to address this to the two Democrat Senators. Both of you mention about fiscal responsibility, but yet at the same time, both of you are proposing univeral health care. Who is going to pay for it? Wouldn’t that be already adding to our fiscal problems? Or is this an easy pitch to get elected?

Senator Clinton : The fact remains that 48 million Americans have no insurance and for such a great nation like ours, this is simply unacceptable. If the Canadians and Europeans can do it, shouldn’t we be able to provide health care for everyone?

Senator Obama : Our current system is broken and heath care inflation is running out of control. We have to make health care affordable again.

Mayor Guliani : I think we have to be very careful when we are talking about health care. There are no easy fix. But I suspect that every party has to accept certain changes to make our health care more affordable. I think incrememtal steps are needed in this area rather than a large sweeping move taking us into the unknown. It is also a question of uncovering the truths about needs and wants of the American people with regards to health care. I do not think we are willing to accept the sacrifices and consequences of a universal health care system.

Senator McCain : I’ll give you a few tips for getting low cost health insurance after this is over! But seriously, the proposals from the democrats fail to explore the shortcomings of the Universal system. Americans I think, do not have the patients to wait for their treatment as most patients in the Universal Health Care system do. Many of the 48 million also choose not to have insurance because costs are too high.

Senator Clinton : I question if is penny pinching really the road to wealth?. We also have to address the issue of fairness and equity of those who are less well off in our society.

Laughter from audience.

Free Money Finance : This is not a question, but just a comment and request. I am absolutely sick and tired of how partisan things get when a president nominates a supreme court judge. I get my fair share of strange interview questions, but the questions and scrutiny that a supreme court judge nominee has to go through is ridiculous.

Mrs Micah : This is another comment. But I am simply disillusioned by all politicians. Every campaign promise is never really fulfilled. They are just made to simply get votes. Even if you have the best intentions, the influence of lobbyist simply results in all of you selling and sucking your soul.

Chief Family Officer : Since President Bush passed his “no child left behind” scheme, I just wanted to get a perspective on how we are progressing as a nation. Where my family is, public schools are still not up to scratch. That is why we are sending our kids to private school. And man, you would believe what we’re giving up for private school and why.

Senator McCain : I think we are making progress on that front. Studies have shown that we are behind many countries, especially in the area of math. Progress will not be uniform across the board though.

My Wealth Builder : I’ve retired in my forties, but given the amount of student debt that students carry after the graduate, I think that early retirement may not be optional for twenty somethings. I question is how can we contain the inflation in education costs?

Money Walks : I would like to ask all of you how does your portfolio look like? An d what money lessons have you learned in your personal life?

Senator McCain : Firstly, in terms of attitude and metality, I thinkit is very important for us to understand why everybody should think like a CEO when it comes to their personal finance.

As far as investments goes, I have a money market account. Stop asking yourself do I need an emergency fund? Off course you do. You should start saving and let money build right away. I would not even waste my time day trading or any of that as I think that trading is for losers. Instead, I would learn how to pick an index fund with low initial investment.

Mayor Guliani : After what happened on 9/11, I would say that the first thing you have to do is to figure out how much life insurance do you need?

Once you have taken care of your emergency fund and your insurance (your back up plans), I would then educate myself as much as I can on personal finance and invest wisely. I recomend reading A weekend with Warren Buffet and other shareholders meeting adventure and lessons from Fire Finance top 100 pf blog list. Most important of all, be patient. Remember that the 1st Million is the hardest to make and that once you cross that hurdle, everything is much easier.

Always know in your mind the 25 mutual funds every investor should know. Somrtimes, the investments I don’t have is more important than what I have. As you get more affluent, consider a Roth IRA if you think you will be in the top tax bracket when you retire. Also consider hiring a financial advisor and do some advanced portfolio building

Senator Obama : If I had a personal finance time machine, I may do things a bit differently. With the internet and the explosion of different investmtent and money magazines, I would have educated myself a lot more when I was younger. But evolution of my online personal finance regimen has gone through a lot of changes. I now do all my banking online and enroll in various automatic bill payments.

Being Frugal when you are starting out in life after graduation is very important I think. You should always buy stuff you can afford. Do not follow the example of the US government! For example, I never have a car payment. However, you definitely want to be learning how to be a gazelle intense without going crazy. You also want to watch yourself and make sure you do not have the making of a cheapskate!

Senator Clinton : One of the most important things in my opinion is that you have to do the right things for yourself and your circumstances. Let me give you a few examples.

If you are in debt, you have to ask yourself if consolidating your debt is worth it? Only you can answer this question. Or if you have to file for bankruptcy, then learn to rebuild your credit score after bankruptcy. I even know people who sell coupons to pay for diapers! Bill even recently told me about the 3000 Mile Oil Change Myth. Even things like setting up a virgin prepaid cell phone or
prepaid electricity can save you money

Where you decide to live also has huge bearings on you finances. I can tell you it is definitely cheaper to live in Arkansas than in New York. If you are living in a high cost area, and moving is going to save you a ton of money, then consider doing it.

Communications and personal finance relationships is also very important. You have to be able to communicate your finances with your spouse or partner. This became very important for me since becoming the bread winner. Strive to become debt free and pass your personal finance tips to others. Remember, we all go through ups and downs and sometimes, you have to be looking at life from a stock market perspective!

Dough Roller : I would like to ask the four of you what are your favorite personal finance books? or at least what have you read in this arena?

Senator McCain : My favourites include 30 ways to use one hour to improve your finances by the The Simple Dollar, 5 things that can appreciate in value by Finandom.

Mayor Guliani : My favorites are free your inner spender, 10 tips for dealing with a lost wallet, and the tortured lives of Mr and Mrs Jones.

Senator Obama : My favorite personal finance book is 7 steps to a smooth car sale, how convertible bond arbitrage works (laughter). Yes, it’s true, I am really facinated by the financial markets. I also think that Benjamin Franklin is the original personal finance blogger.

Senator Clinton : My favorites include my son came across a pyramid scheme and is this really what we want to teach our kids?.

Mr Credit Card : We have finally come to the end of his fantastic Q&A. I would like to thank our guest who have taken their time to come here and answer questions from the personal finance bloggers, who along with being concerned with their own financial well-being, also care a lot about our nation’s finances. Thank you to everyone for participating. Thanks also to the Carnival of Personal Finance for organizing this event.

48 Responses to “Carnival of Personal Finance #121 - Columbus Day Edition”

  1. The 121st Carnival of Personal Finance Says:

    […] This week’s edition is hosted at Ask Mr Credit Card and included my controversial article Is pinching pennies really the road to wealth? Three really good reasons it’s not!. […]

  2. mariam Says:

    Loved the creativity in the round-up! I LOLed how you seguewayed into the post titles. Nicely done! Thanks for the mention :)

  3. Money Matters » Blog Archive » Carnival of Personal Finance #121 - Columbus Day Edition Says:

    […] Original post by Mr Credit Card […]

  4. glblguy Says:

    Very creative, can’t imagine how much time that took you! Thanks for hosting such a great carnival!

  5. Dan at EverydayFinance Says:

    Wow, this is a great edition. Unique and tons of work I’m sure. Thanks for giving me the poll position; this was a first! Great job!

    Dan at EverydayFinance

  6. J at Home Finance Freedom Says:

    Hello. Your theme is a very interesting idea although I noticed that you promoted Guliani from mayor to governor.

    Thank you for hosting my article, “The “Debt-Free” Deception: Housing Myths Part 8.”

  7. The First Million Is The Hardest | Moolanomy Says:

    […] This article was featured in the 121th Carnival of Personal Finance hosted by ASk Mr Credit Card. For more information please visit the Carnival of Personal Finance. Tags: compound interest, compounded growth, compounding, investing, million, millionaire, savingShare This […]

  8. shawna Says:

    Cool carnival! Thanks for including my post!

  9. Flexo Says:

    Thanks for hosting! This is a very creating Carnival!

  10. Flexo Says:

    Thanks for hosting! This is a very *creative* Carnival!

  11. MillionDollarJourney Says:

    Great carnival. Thanks for putting in the extra effort and the link back.

  12. Carnival of Personal Finance » Carnival of Personal Finance #121 Says:

    […] The Columbus Day Edition of the Carnival of Personal Finance has been published at Ask Mr. Credit Card’s Blog. Today’s Carnival takes the form of a discussion between the leading presidential candidates: McCain, Giuliani, Obama, and Clinton. […]

  13. 2007 News Archive | Moolanomy Says:

    […] 10/08 - Please visit Ask Mr Credit Card for the 121th Carnival of Personal Finance. […]

  14. rocket finance » Blog Archive » Carnival of Personal Finance #121 Says:

    […] The latest installment of the Carnival of Personal Finance is up at Ask Mr. Credit Card. Mr. CC gave the carnival an election flavor - even though we are over 12 months away from the presidential election. Doesn’t it feel like we should be voting this November? […]

  15. Matt Wolfe Says:

    Thanks for hosting. I really like the creative way that you posted the carnival.

  16. Exjackly Says:

    Carnivalof Personal Finance #121…

    Ask Mr Credit Card hosts the 12st Edition of the Carnival of Personal Finance this week. He does something a bit different, posing the carnival as a presidential debate, linking in personal finance blogs and posts throughout. Very creative and well…

  17. The Financial Blogger Says:

    Great job!
    Very well done, thx for hosting!

  18. Eric Says:

    Really enjoyed how you put this post together. That must have been a huge amount of work! Excellent job and thanks for including our post!

  19. Patrick Says:

    Very nice job putting this carnival together. Had I know this week’s version would be a political one, I would have submitted the article I wrote about Hilary’s Baby Bonds being a bad idea! ;)

  20. Finance Spot » Archive » Late breaking news Says:

    […] Carnival of Personal Finance #121 - Columbus Day Edition […]

  21. Frugal Dollar Says:

    Wow- that was so great! Thanks for all your hard work and effort and many thanks for including my post!

  22. FIRE Finance Says:

    This is such a creative and beautiful presentation! Thanks for all the hard work and mentioning our post. Keep up the great job!
    Cheers,
    FIRE Finance

  23. Kay @ Don't Mess With Taxes Says:

    Very inventive and informative! Thanks for hosting.

  24. Brip Blap Says:

    Interesting way to present the carnival! I’m glad Obama agrees with me about Ben Franklin - I was curious about his position on that. Thanks for the including me!

  25. www.bestfinancialadvisor.info » Carnival of Personal Finance #121 - Columbus Day Edition Says:

    […] Mr Credit Card wrote a fantastic post today on “Carnival of Personal Finance #121 - Columbus Day Edition”Here’s ONLY a quick extractI would like to thank our guest who have taken their time to come here and answer questions from the personal finance bloggers, who along with being concerned with their own financial well-being, also care a lot about our nation’s … […]

  26. Chief Family Officer Says:

    Thanks for hosting such a fun carnival!

  27. John Says:

    WOW. Great post and highly creative.

  28. The Digerati Life Says:

    Very interesting as usual. I sense an interest in politics :) (just like the digerati spouse). Thanks for this great carnival!

  29. » carnivals roundup brip blap: learning how to manage life, family, career, personal finance, productivity, self-improvement and health Says:

    […] Ask Mr. Credit Card hosted the great big Carnival of Personal Finance #121. My post on Ben Franklin was included, and there were - as usual - a lot of great articles there. One Girl’s Quest post on If I Had a Personal Finance Time Machine has one really shocking number in it - I was thrown for a loop. JVW from The Good Life On A Budget has a good post on Is This Really What We Want To Teach Children? I hate to say it, but this is just the tip of the iceberg. Monopoly is bad enough, but you can throw in TV, watching mommy and daddy use the credit card, and on and on. I came across this blog via Lazy Man and Money a few days ago, and I agree with his assessment - it’s an interesting blog, and worth checking out. […]

  30. Thrifty Penny Says:

    Very clever presentation!

  31. I’ll be hosting the Carnival of Personal Finance next week at Mighty Bargain Hunter Says:

    […] The submission form is here. If you haven’t already caught this week’s carnival, it’s here. […]

  32. Money Blue Book Says:

    I like the format! Lots of interesting articles to read.
    -Raymond

  33. Carnival of Personal Finance » Carnival of Personal Finance #121 Editor’s Choice Says:

    […] Ask Mr. Credit Card followed up the 121st edition of the Carnival of Personal Finance with his picks for Editor’s Choice. […]

  34. NCN Says:

    Great job… but where’s my favorite libertarian, Ron Paul? :)
    NCN

  35. Property Taxes, Finance and Ethics, The Private School Debate @ The Carnivals Says:

    […] Property Taxes, Finance and Ethics, The Private School Debate @ The Carnivals By Silicon Valley Blogger I’ve got time for a quick roundup of great carnival articles. The Carnival of Personal Finance #121 - Columbus Day Edition was held at Ask Mr. Credit Card and was nicely presented as a Q & A segment among our leading presidential candidates. From the animated dialogue by the candidates, these stories emerged: […]

  36. carnivals this week : plonkee money Says:

    […] I contributed ‘prepaid electricity and saving money‘ to the carnival of personal finance hosted in a spectacular political debate by ask mr credit card. Other great posts include: […]

  37. Carnival Roundup: Week of October 8th at Clever Dude Personal Finance & Money Says:

    […] First up, the Carnival of Personal Finance #121 hosted by Ask Mr. Credit Card: […]

  38. Link love for the Carnival of Personal Finance #121 | Money Relations - Finance and investment blog. Says:

    […] I recently participated in the Carnival of Personal Finance #121 - Columbus Day Edition hosted by Mr. Credit Card. He did a wonderfully creative job by linking all the posts in the form of a Q&A session for the US presidential candidates. My submitted post, The Tortured Lives of Mr and Mrs Jones, was named a favorite of “Ex-Mayor Rudy Giuliani”. Poor Mr. Credit Card just probably had a hard time fitting the title in […]

  39. The Carnival Review #6 : A Penny Closer Says:

    […] Carnival of Personal Finance #121 was held by Ask Mr Credit Card. We are honored to have made editor’s choice this week with Eric’s article on choosing our credit card. […]

  40. Carnivals And Festivals For The Week of October 8 2007. | My Two Dollars Says:

    […] Carnival of Personal Finance #121 at Ask Mr. Credit Card, where my post “Moving Is Going To Save Us A Ton Of Money And Improve Our Quality Of Life.” was included. […]

  41. The Dough Roller Roundup (Attending 15 Year College Reunion edition) | The Dough Roller Says:

    […] Carnival of Personal Finance @ Ask Mr. Credit […]

  42. Saturday LinkStuff Says:

    […] Mr. Credit Card hosted the Carnival of Personal Finance #121 and […]

  43. Weekly Carnival Roundup — The Baglady Says:

    […] Carnival of Personal Finance #121 at Ask Mr. Credit Card – This carnival was written as a presidential candidate debate. It was very creatively hosted. I especially enjoyed Exjackly’s article on How to Live on Mininum Wage. I once saw a show by the same guy who documented eating McDonalds for 30 days and he tried to live on minimum wage with his girlfriend, and his conclusion was that it’s ridiculously hard. He even added his nephew into the experiment so that it seems he and his girlfriend has a child. It was kind of bizarre to watch. […]

  44. The Financial Blogger | Financial Ramblings Says:

    […] It was another busy week over financial carnivals. Carnivals have definitely helped my blog grow over the past months. This week, Ask Mr. Credit did an amazing job hosting the Carnival of personal finance Columbus day edition, My Retirement Blog presented The Festival of Frugality, Business Pundit took care of the Carnival of the Capitalist while Moolanomy did a great job with the Carnival of debt reduction. Here’s my top three for this week: […]

  45. Our New Puppy / Carnivals | How I Will Be Rich Says:

    […] I also wanted to point out that this week we were featured in the Carnival or Personal Finance taking place over at Ask Mr. Credit Card. There are a ton of great posts from a ton of great blogs participating. Go check some of those out. […]

  46. Millionaire Mommy Next Door Says:

    Thanks for doing such a fabulous job of hosting! I’ve linked back to the carnival in my Grow Your Money, Grow Your Life (Weekly Roundup) at:
    http://millionairemommynextdoor.blogspot.com/2007/10/grow-your-money-grow-your-life-weekly_13.html

  47. » Carnivals - Week of 10/08/07 @ fivecentnickel.com Says:

    […] The Carnival of Personal Finance included “Ten Tips for Dealing With a Lost Wallet.” […]

  48. Links Sunday and Reminder For HP SD Card Reader Giveaway | Personal Finance Blog by Money Ning Says:

    […] Carnival of Personal Finance […]



Labels: