My picks from the Carnival of Personal Finance #79

Phew, there’s a lot of good stuff on today’s carnival of personal finance. While I was going through it, I made a list with short summaries of the articles I think are most relevant to students and fresh grads. Just making this list, based on the (not-so) short list at the carnival made my head spin. I can imagine how much of an effort it must be for the host! So, to be fair to the host, I am not including any links below – please head on over to the carnival for the links to the actual articles.

  • Cody McKibben of Time for some thrilling heroics has an excellent post on "6 simple financial tricks for college students (or anyone for that matter)". It’s a very well written post and a very good read for students .

  • ISPF of International Student Personal Fianance and Lulu of Save Money have almost opposing views on how to build good credit history (see footnote :)

  • One of the side effects of reading a lot of PF blogs is that you sometimes wonder why are you in school and not out there making money. Most of the times, the logical part of your brain is enough to make you see the light again. For those other few times you cant see for yourself why, you might want to look at these posts - "20000 reasons why college is worth your time" by TJP of Investor Trip, "making college part of a wealth building plan" by Super Saver of My Wealth Builder

There are several posts that are not directly aimed at students/freshgrads, but nevertheless very interesting.

  • Money Man of Watch your Wallet presents a link to the speech "You and Your Research" by the renowned scientist Richard Hamming (of the "hamming code" fame) and muses about how the lessons from the speech can be applied to any work area so we can go from being an "average" somebody to a "great" somebody. This nicely written post makes for a very interesting read.

  • David of My Two Dollars discusses his wedding expenses and how to save money while still having a nice simple wedding. I am sure those of you with the big day in the horizon, will find this an invaluable post.

  • Fresh grads looking to buy a house within the next few years might find the posts by David E. of Worldwide Success, Kristine Mc. Kinley, and Binary Dollar useful.

  • Those of you with kids, can find a very practical tip by CJ of Coin Jar for a holiday gift for the kids

  • Jimmy Atkinson of Ask the Advisor has a list of the “Top 25 Web 2.0 Apps for Money, Finance, and Investment”. While all of these may not be relevant to student/fresh grads, it is a NEAT list and worth book marking for future use. Will Chen of Wise Bread has a list of "Top 100 popular personal finance blogs". Again, definitely worth book marking

  • Tips for frugal living - Yan of lists sites for sending/receiving faxes for free, Amelia of Around the Sun discusses Saving on Software, Scott of Scott on Money discusses getting a better car insurance quote, 2 Pennies Earned discusses Saving money on wrapping paper, Dad at Five Cent Nickel presents a strategy for saving on Disney world vacation tickets, Joe Caterisano of How to save Money presents tips for saving on gasoline, Ed at Daily dose of Optimism presents tips for saving while printing.

  • Eric of Free from 9 to 5 has posted his strategy for implementing some of the advice from The Automatic Millionaire (book by David Bach). I have not read that book, but this post can be a good reference/comparison for fresh grads starting out and wondering how to break up their paycheck to get the best returns.

  • William Wallets of A Financial Revolution presents an overview of income taxes for those interested in, well, taxes

  • Jennifer Lynn of Broke-A$$ Student discusses the Advantages and disadvantages of online savings accounts

  • Several articles on 2006 year end/ 2007 year beginning - Mr. Credit Card of Ask Mr. Credit Card discusses "The best and worst of credit cards in 2006" (check out the segment on credit card with no credit history if you are a new student), Silicon Valley Blogger of The Digerati Life lists 10 year end money management reminders, NCN of No Credit Needed Getting ready for 2007.

Footnote: You may have noticed that Lulu of Save Money has a post on the exact same topic as my submission – ie, Building Credit History/Score. However, his perspective is almost the opposite of mine :) That just enforces my rules about personal finance blogs –
  • Read a lot of blogs. You can count on getting a lot of different perspectives on any given topic

  • Then, make up your own mind :) Never let another person make any decisions for you – irrespective of whether he is an admitted NON-guru on the topic (like most bloggers are) or a self/media proclaimed pundit! After all it’s your life and your money!
That said, I still stand by my rules for creating a good credit history :)

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