123rd Carnival of Personal Finance

October 22nd, 2007 | by rocketc |

The Carnival is up at The Dough Roller. His edition is scary as he recounts some of the worst days in stock market history. Great. Thanks, Dough. Just what we needed.

Anyway, my post entitled The Best Way to Get Out of Debt, In My Humble Opinion, was included. Hope you enjoy it.

My picks include:

John Dingell: Little Man, Big Problems (for your wallet) – his post reminded me of a recent quote by the democrat governor of my state, who recently said: “It’s not a tax increase for individuals, it is only a tax increase on big oil companies.” Why can’t politicians understand that big oil, big retail, big computers, big tobacco and big fast food don’t pay any taxes, none, zero, zilch, nada. Only the little consumer pays taxes.

36 Important Money Saving Tips was a good post at Frugal Journey. I will try to apply no. 23, 24, 32, 33, and 36.

I found Why the Rich Get Richer at Digerati Life to be an interesting post, but it doesn’t hit on the common myth that the rich get richer by taking advantage of the poor. The reality is, in capitalism, when the rich get richer, they bring others with them. How many millionaires do you thing Bill Gates is responsible for creating? Furthermore, the rich are usually someone who has taken some kind of risk in life. Riches are sometimes the reward for being willing to fail.

Why do we read and follow money tips, but never become rich? is a good post at Money Ning. I think the answer is the same reason why we have all of the health info, workout opportunities and nutritional food options in history available to us, but most of us are still fat. Instant gratification, lack of discipline and lack of perseverance.

How much does $20 a week amount to over time at My Two Dollars is my favorite post from this week. It runs along the same lines as my post about 20 year olds reading the WSJ. This is a marketing idea that someone must run with. I am actually talking to a banker about this idea in the next two weeks.