Welcome to the Carnival!

And to the milestone of the first time in 3 years as a semi-PF blog that I have ever hosted a PF Carnival.

Sad, I know.

A little bit about FB

For those of you who are new, I started blogging about 3 years ago, and pulled myself out of $60,000 of debt in 18 months. You can read more about me here.

(Disclaimer: This blog is not entirely all about money, because I do wander off the beaten path and blog about non-money matters.)

Who the next host for this Carnival? Money Crashers!!

Editor’s Picks

We had an amazing turnout this round!

Every time I thought I was done, you’d keep me on my toes with another barrage of entries.

And here are my picks from this round:

• Len Penzo talks about the 7 Deadly Sins of Personal Finance
• Free Money Finance covers the 5 Stages of Investing Enlightenment
• Bret Frohlich says we’re being hoodwinked in the energy issue, and we need a revolution
• Bargaineering tells us to check our pockets for the Most Valuable Regular U.S. Coin
• Money Help for Christians outlines the characteristics of the poor, middle-class & wealthy
• M is for Money asks if colleges should charge more for certain degrees
• Saving to Invest reveals why even high-income earners are not far from the edge of poverty

And for this Carnival, I am trying something new, by linking every post to some aspect of my life.

If you aren’t cool with the story format, I have also listed each link by category at the end for your ease of browsing pleasure.

The Personal Finance Journey of Fabulously Broke

When I first started out in personal finance, I had so many questions about my money and my life.

I had just recently graduated with a business school degree, and thank goodness I wasn’t charged more for having chosen that major (M is for Money).

I’m glad I did my research and chose to go into the business technology field instead of becoming an investment banker, because much like a professional athlete, their high salaries aren’t exactly as cut and dry as it may seem (Dough Roller).

I wanted to actually have cash in the bank, be debt-free, healthy, secure for my future (which also includes being aware of identity theft) (Money Under 30), and taking into account my future family because children aren’t free (Christian Personal Finance), and in Canada, they can cost up to $182,190 until the age of 18 (The Canadian Finance Blog).

But I was $60,000 in debt, and not a single double-stamped penny to my name to help me out (Bargaineering), and with no sense of how to manage my money properly which includes the big wins compared to daily frugality basics (Studenomics), or even knowing what the heck credit monitoring for my credit report even meant (The Digerati Life).

Thankfully, none of that debt was on credit cards or having to deal with their policies (Clear Choice Credit Cards), spent obsessing about sex or cars (Budgets are Sexy), or being ripped off by wrinkle cream trial offers (Taking Charge)…

But some of it was certainly spent on unnecessary wants and luxuries, even at budget-conscious places such as warehouse clubs where I should have saved cash (Daily Money Dish) or thought twice before jumping ship from a telephone provider to another one (Free from Broke).

I also have to admit that during the course of my college education, I had broken about 5 of the 7 Deadly Sins of Personal Finance (Len Penzo) at one point or another, and probably while on a Trip to Vegas (Finance Your Life).

I come from a family with a mix of characteristics between poor, middle-class and wealthy families (Money Help for Christians), because while we were generally considered middle-class, the secret with my family was that my father had won a lot of money gambling.

And in my dad’s eyes, the money was a way to stop having to work full-time in his prime working years, so he just took a simple part-time, minimum wage job.

However, he had no idea how to manage that windfall, so the money slowly drained away during the years, not being replenished at a rate fast enough to keep on par.

In hindsight, it makes total sense to me (and is even okay) that my parents didn’t give me a dime for anything after I turned 18, not even a family loan of sorts (One Money Design).

Maybe it was because AmEx Gift Cards for college students (The Debt Hawk) hadn’t existed in my time while I was in college.

But at that time, I was pretty peeved at being lied to and I left home to be independent and work full-time while going to school,which meant that I the student, rather than my parents, ended up borrowing that $60,000 to pay for my education (Good Financial Cents).

That upbringing has really shaped my learned money attitude in both great and not so great ways (Financial Highway).

Even to this day, whenever I moved back home temporarily my parents immediately charge me rent.

That turns my relationship with them from being a daughter with her parents into a friendly landlord-like transactional one (Well-Heeled), and I do admit to using one of the 9 ways listed to knock the socks off my “landlords” (Get Rich Slowly).

Where my parents lacked, they provided valuable skills instead such as being confident in knowing how to negotiate and ask for discounts (Oil & Garlic), which helps immensely when I regularly negotiate with wireless carriers (Sweating the Big Stuff).

They also never encouraged me to get my driver’s license until I did it on my own last year at the age of 25, so luckily, I never had to try and get out of an upside down car loan (Single Guy Money).

Still, it was clear that my parents had some sketchy money habits they were living by (Darwin’s Finance), and I wanted some financial peace, although not necessarily through Christianity (Man Vs. Debt).

They always seemed to miss their bill payments out of habit (The Credit Toolbox), and had poor real estate plans in place, due to superstitions about death.

All I could think was: what if I took after them and in the worst case scenario, ended up totally homeless because of poor real estate planning (Wealth Pilgrim) with their lack of proper estate documentation (Provident Planning) all due to my lack of money savvy?

Being neglectful of my money had some very dire consequences in the short, long and very long term, from what I could see, and I didn’t want to end up on the wrong path.

I was also just starting at my first, new, shiny job at a corporation, after my credit report was pulled (Personal Finance by the Book) – luckily I passed inspection!! — and I was just confused about everything in general, such as what kind of health insurance plan to opt into at work.

I ultimately chose the cheapest plan but what if I didn’t consider the real price of poor health insurance (Rabbit Funds) or what if I didn’t take advantage of my employee stock ownership plan, because I didn’t get the basics (Accumulating Money)?

After two years, I quit and became a freelancer and essentially created my own job (Smart Money Daily), but I had originally struggled with the paradox of choice for passive income (Passive Income Now) — of which, blogging is definitely NOT passive, nor much income to speak of.

Blogging and freelancing eventually became a great mesh of jobs for me and a great fit with my personality and skills.

The bonus is that being a computer geek, I can solve my own problems, or just learn how to go to the right websites to find the answers (Mighty Bargain Hunter).

In half a year or less as a freelancer, I can make enough money to live on for the whole year (I have very low expenses), and blogging takes up the other half of the year but pays almost nothing.

Both jobs make me happy, but doing just one of them wouldn’t.

I stay optimistic that you can land big jobs, even in the middle of a recession (Penny Jobs), as long as you are realistic about the rate & willing to do the actual contract.

While blogging about my finances & struggling to make sense of it all, I ended up clearing $60,000 debt in 18 months, as well as learning how to spend my money before tax income (The Financial Blogger) and consider tax services such as the H&R Block Tax Cut (Couple Money) along the way.

Having gone through some of the 5 stages of investing enlightenment (Free Money Finance) I wanted to start moving beyond just managing my money to learning how to properly invest my money.

But I was so lost!!

I wanted to be ethical, responsible and diligent (Beyond Paycheck to Paycheck) and choose socially responsible investments (Gather Little by Little), by investing in eco-friendly companies and not supporting industries that hoodwink us, such as energy companies (Bret Frohlich).

But I also wanted to be paid on a regular basis, so learning how to pick the best dividend paying stocks (Dividend Growth Investor) was also part of my new game plan.

The first step for me, was to learn about how industries make their profits & the basics of how things just WORK, for example:

• How the mutual Fund Industry makes its money (Tonka Beans)
• How corporate Bonds work (Narrow Bridge)

The second step, was to figure out the subtle differences in high finance talk, such as high-yield income investing vs. high-yield dividend investing (Dividends Value).

The third step, was thinking about my investments and how I wanted to balance my portfolio — on a schedule or just when I feel like it? (The Oblivious Investor) when I wanted to investin emerging markets such as Brazil or India (Dividend Guy), or even just to muse on the next scenarios for the next bubble (My Wealth Builder) so that I would be properly prepared.

But beyond investing, I still need to discover tips and tricks such as cheap ways to delay expiration dates on my precious air miles (Free by 50), keeping ideas on how to make money if you don’t have a job (or in my case, a contract) in mind (The Buck List), and even learning how to deal with claims adjusters when there are disagreements (Money Crashers).

I always used to say that I wish I had known more about my money at a younger age, but even if I could talk to my younger self and do financial do-overs (Modern Gal) I think in hindsight, getting into $60,000 of debt was a blessing rather than a hindrance.

I mean, really, it was the best life lesson I could have ever hoped for to learn how to get out of debt, manage my money and invest in my future.

Now I am well on my way towards total financial independence even if I don’t ever become a millionaire (Funny about Money), because I have low living expenses and a different perspective on what matters in life.

I am still being diligent in watching myself from falling into high income earner money traps such as keeping up with the Joneses (Saving to Invest), and keeping my eye out for opportunities such as jobs in North Dakota (The Happy Rock), which means I’ll have to be on the up and up on the 401k versus SEP-IRA basics for example (My Dollar Plan) for self-employed professionals once I move to the States (short-term plan).

Just because I make more money, doesn’t mean I need to spend more as well, and I should still keep an eye out for savings, including when banks such as Chase give a $100 starting bonus for new customers (Blogging Banks), and keeping on top of news about how credit card policies are being affected right now (Ask Mr. Credit Card).

This journey was well worth the climb, tears, sweat and effort, all in the name of learning how to wisely manage and use my money.

And that’s all folks!

STARRING BLOGGER CREDITS a.k.a.

The Full Index of Posts for

“Making your money squeal for you”

Finance

Wealth Pilgrim shocked me with this story: How Estate Planning Basics Made Me Homeless. How To Make Sure It Never Happens To You

Dough Roller cleverly points out why becoming a NFL football player may not be as golden as it seems.

Money Management

The Debt Hawk talks about giving AmEx Gift Cards for College students to prevent them from applying for credit cards.

Darwin’s Finance says that these are money habits to live by.

Well-Heeled covers the otherwise sticky topic of when to leave money out of a relationship, even a transactional one.

Man Vs. Debt asks if Christianity is the Only Path to True Financial Peace.

Christian Personal Finance breaks out the list of inevitable cost of raising children, and ways to cut those costs.

The Canadian Finance Blog also talks about how much it costs to raise a child, along with a really detailed breakdown.

Money Help for Christians talks about the characteristics of the poor, middle-class and wealthy.

Studenomics talks about big wins compared to daily frugality basics.

Passive Income Now talks about the paradox of choice for passive income.

Funny about Money asks if you have to be wealthy to be financially independent, to which I say — It depends on what you consider wealthy.

A Modern Gal thinks about what she would have said to her 25-year old self if she were to do over her financial choices.

Financial Highway talks about our Money Psychology.

Saving to Invest reveals why even high-income earners are not far from the edge of poverty.

One Money Design asks if you should loan money to a family member.

Budgeting

Finance Your Life: A not so frugal trip to Vegas led to some interesting revelations such as the fact that he substituted food for alcohol. But that sort of makes sense, because alcohol has a lot of calories, Doctor S.

Saving

Oil & Garlic (cool name!) talks about the trigger that led her to start negotiating, and her ah-hah moments.

Sweating the Big Stuff also talks about negotiating. But specifically, with wireless carriers.

Daily Money Dish enters the Carnival for the first time and gives us a fab post on the 10 ways to save more money at warehouse clubs.

Frugality

Mighty Bargain Hunter urges us to think twice about hiring computer geeks (hey!) before checking out this website first.

Debt

Len Penzo talks about the 7 Deadly Sins of Personal Finance.

Single Guy Money guides us through how to get out of an upside down car loan.

Good Financial Cents asks if parents or students should borrow to pay for college.

Credit

The Credit Toolbox talks about friends who habitually miss their bill payments and why it’s detrimental to their financial health.

Money Under 30 cautions us against the 7 signs that you are at risk for identity theft.

The Digerati Life talks about using credit monitoring to protect your credit history.

Personal Finance by the Book asks if employers should use credit reports to screen their employees.

Clear Choice Credit Cards talks about consumers getting tired of credit card policies.

Ask Mr. Credit Card talks about how CFPA may affect Credit Cards.

Investing

Gather Little by Little speaks about the rise of social investments, or investing in corporations who step up to do their part in the world.

Tonka Beans unravels how the Mutual Fund Industry makes their money and talks about why index funds are a better deal.

Dividends Value clarifies as an income investor the difference between High-Yield Income Investments and High-Yield Dividend Investing , which are not the same thing.

Dividend Growth Investor talks about his Best Dividend Picks for 2009, Q3.

The Oblivious Investor says you can either set your portfolio on a schedule, or rebalance only when you feel you should.

Narrow Bridge lays it out for us how corporate bonds work.

Free Money Finance has the 5 stages of Investing Englightenment.

Accumulating Money covers the Basics of Employee Stock Ownership Plans.

My Wealth Builder thinks about scenarios for the next bubble.

Dividend Guy talks about how he invests in Emerging Markets.

My Dollar Plan compares the Solo 401k to the SEP-IRA for the self-employed.

Taxes

The Financial Blogger helps out us little Canadian companies by telling us how to spend our money with Before Tax Income.

Couple Money reviews the H&R Block Tax Cut.

Economy

The Happy Rock says that if you need a job, head to North Dakota.

Penny Jobs talks about landing the big job in the recession.

Real Estate

Get Rich Slowly gives you the 9 ways to knock the socks off your landlords.

Money Crashers tells you how to deal with a claims adjuster when you disagree on the price or the scope.

Banks

Blogging Banks says that the $100 Chase Checking Bonus is back!

Career

Smart Money Daily says that if you don’t have a job.. no problem! Maybe the solution is to create your own.

The Buck List gives the 10 ways he’s made money since losing his job.

Reviews

Free from Broke talks about switching their phone service to cable, but not without a cost.

Other

Rabbit Funds muses about The Real Price of Poor Health Insurance for this family.

Bret Frohlich covers the Economics of Energy for Blog Action Day.

Beyond Paycheck to Paycheck learns from the same accident, his earlier concussion.

Bargaineering gives us a little trivia by revealing the Most Valuable Regular U.S. Coin.

Budgets are Sexy talks about obsessing about sex, money and cars.

Free by 50 tells us how to delay the expiration of our reward miles… on the cheap.

Provident Planning tells us which estate documents we need.

Taking Charge proudly tells us how she won her wrinkle cream face-off!

M is for Money asks if colleges should charge more for certain degrees.

Who’s up next? Money Crashers!!

Don’t miss it.

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• 5 Finance Basics

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