Friday, June 23, 2006

Best of June Blogs--Part II, Personal Finance

The personal finance blogging arena has mushroomed at almost geometric growth rates since I started blogging a little over a year ago. It is not hard to find dozens of good blogs on personal finance--in fact, a dedicated person can probably find a dozen or more good blogs in several different personal finance subcategories--such as debt reduction, frugality and investment.

My advice to those not presently reading PF blogs: start by reading carnivals. There are carnivals (or variants such as festivals or cavalcades) of debt reduction, enterpeneurship, frugality, investing and general personal finance). These carnivals can be accessed by links on the right side of this blog--most carnivals are done weekly and the typical carnival date is abbreviated in the link (I sporadically have posts in carnivals, especially the Carnival of Personal Finance). Most carnivals have 20-50 posts--tastes and preferences will vary from reader to reader but most readers will find a dozen or more of the posts of some level of interest and a smaller number worth reading in full.

Reading the Carnivals should expose you to a number of PF bloggers and many readers will settle on favorites that way. Another approach is to read PF anthologies, such as the Money Blog Network (made up of established PF blog stars such as Consumerism Commentary, Free Money Finance and Mighty Bargain Hunter) or To get you started with the second approach, a sample of favorites from the Money Blog Network during the past 10 days.

All Financial Matters--"How to Compute the Remaining Balance on a Loan"--Not only does JLP explain the calculations behind determining a loan balance, he then sets up a remaining loan balance calculator. [14]

Blueprint for Financial Prosperity--"How to Time the Market""--Jim points out that (with the rare exception) the best approach to timing the market--is to not even try. Instead, buy and hold and in the long run, you will be at least as well off financially and avoid emotional wear and tear. [19]

Consumerism Commentary--"Pure Gold Coin for Investors and Collectors"--Flexo not only describes the new $50 gold piece put forward by the U.S. Treasury, he also clarifies coin collection terms such as proofs and bullion. [21]

Five Cent Nickel--"Americans Moving Back Into the City"--"Nickel" gives the advantages and downsides of living in a big city vs. a suburb. His conclusion (and I tend to agree): if possible, live in a small town. [19]

Free Money Finance--"Does a Second Income Pay"--The author looks at the benefits and costs of having a mom work while kids are at home. Primary conclusion: if Dad's income NEEDS supplementing or he is unemployed, by all means, mom should work outside; otherwise, families should look very closely at employment-related expenses, the nurture of the kids and need for personal/family time before mom takes an outside job--unless the second job significantly improves Mom's self-esteem. [22]

Mighty Bargain Hunter--"Doing What You Love vs. Doing What Pays Well"--John talks about the importance of knowing what you enjoy; at the same time, being aware of the price in extra salary which would make it worthwhile to work longer hours, work in a more structured environment, etc. [17]


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