For those of us in Ontario, it is Family Day and this year, it seems everyone is “celebrating” it (meaning all banks, and stores are closed).
As this is my first time hosting the Carnival of Personal Finance I figured Family Day would be a good thematic premise to build our list of submissions for the week from.
Each section will be advice that might typically come from a member of your family (with a rating on the value of the advice as well (at least my point of view)).
We all know what kind of advice this is, “… I remember in my day we lived on $10 a week and we liked it…” and other gems about “… a penny saved is a penny earned…” from our Dad’s. Stoic advice to keep us walking the “straight and narrow” path of Personal Finance.
- Vince from Scordo.com asks Do Your Children Hustle?, now that is Fatherly advice, work hard, earn a good living, show the world you are worth something.
- David on Finance presents A Macroeconomic Look at Credit Cards, and writes, “…the point here is to prove that credit cards are evil at the core. :)”, that is definitely something your Father would tell you, “Neither a Borrower nor a Lender be!”.
- Miranda from Yielding Wealth presents Forget Economic Stimulus: Get Your Own Financial House in Order, which is very Fatherly, don’t worry about what the government is doing, worry about yourself first.
- MoneyNing from Personal Finance Blog wrote Stop Thinking About True Value and Just Buy What You Need, and says, “Are you thinking about value every time you buy something? Stop because you are losingmoney!”, very Fatherly advice, “Spend wisely!”
- Michael James on Money is actually giving out Fatherly advice in Teenager Jobs that Pay Well, and asks are there other good paying jobs as well?
This is the emotional advice that tugs at your heart strings and maybe isn’t well based in facts, but is “emotionally smart”, like “… loan your dead beat cousin $300 I know he’ll pay you back…”, and other interesting statements like that.
- Free Money Finance advises What to do When You Have a Job Offer but Are Waiting for Another One, as your Mother might say, “Make sure no one gets mad at you for something you forgot to say”
- Katy from New Money presents Time to Buy Stocks or a House?, that’s more of an emotional decision right now, and your Mother might tell you, you can’t live in Stock Certificates.
- Brooke from Dollar Frugal presents Super-Savings Mode - Food on Travel, this is the kind of “how to be frugal while on vacation” that most mothers might give out.
- Beth from WalletPop.com presents What the proposed stimulus means for your pocketbook, and says, “This is a breakdown of what kind of cash the proposed stimulus would put in the pockets of ordinary Americans. The answer: not much. “, but at least the government cares enough to think about you (like your mother might say).
- Jason from MyMoneyMinute sasy What We Learn From Tragedy, live every moment like it’s your last I heard many Mothers say.
- Beyond Paycheck to Paycheck rants Could you get by on half a million a year?, and says, “Should we cry for those who may suddenly find they have to get by on only $500,000 a year in New York?”, not really very motherly, not thinking about your fellow man.
- Matt from One Million and Beyond asks Are You Scared of Your Money?, don’t be afraid of things you don’t understand, dear.
- Megan from Counting My Pennies muses Knowing What’s Important, even your pet is important (I can hear my Mother saying that).
- Ben from Money Smart Life queries Valentines Day Flowers a Rip Off, it’s not the gift dear, it’s the thought that counts.
This is advice that may be a little weird and not exactly the best advice, but always with an interesting angle to make you at least wonder if it is good advice or not:
- Fabulously Broke in the City presents Why I rent instead of buying a home, and says, “Why I think renting is getting a bad rap. I have many good reasons for renting instead of buying, and I go over them, with numbers to back it up.”, yes, but is it the right thing to do?
- Matt from StupidCents presents Attention College Students - How to Make Money While at School, an interesting idea, but what if you still need your old books?
- Jake from Debt Sucks presents Birthday Money Pays Off, Xbox Support Caves,this one is a bit of a stretch on being advice, more of a story that I am not sure is the best way to deal with an issue (much like your brother might).
- Ryan from The Better Credit Blog presents Signed up for a credit card to get a free sandwich, now that doesn’t strike me as good advice, unless it’s a great sandwich!
- Always the Planner asks Cash vs. Credit, never take advice from your brother in this area, do what is right for you.
- ABCs of Investing presents Stock or ETF Symbols, but just a brief explanation, just like your brother not to fill the picture in completely.
- Rocket Finance claims I can’t wait to get fired, and says, “Why getting fired might not be so bad after all.”, all I can say is careful what you wish for!
- Trevor from Financial Nut tells us Pros & Cons: Moving From Microsoft Excel To Google Docs For My Budgeting, I guess figuring out where to store your financial info is good on Google Docs, but maybe not…
We all know this advice type, “… why did you buy the 1080i HDTV, when the dishwasher is still broken?”, and other useful “buzz kill” type pieces of advice.
- My Journey to Millions presents Work at Home Scams on the Rise, what, I can’t make a million dollars sitting in my pyjamas and running a business out of my house? What a buzz kill man!
- The Coin Jar queries When having a land line and cell phone make sense, well maybe I want a Crackberry too!
Hopefully your family gives you as good if not better advice.