This week’s Carnival of Investing and Carnival of Personal Finance are both up. They each feature links to a broad range of articles to help with your personal finances and here are a few of my favorites:
Digital Breakfast has the third installment of Sun Tzu and the Art of Personal Finance. I’ve seen The Art of War applied in lots of business situations. It’s interesting seeing the application to personal finance.
Its Monday morning and Iâ€™m busy checking on my soldiers and figuring out what battles and traps are lying ahead this week. For todayâ€™s lesson I turn to Chapter 1 again from Sun Tzuâ€™s Art of War, Laying Plans.
Blueprint for Financial Prosperity asks â€Do You Care About Housing Market Signs?â€ (What?! Of course you care â€“ it gives you a reason to visit here or here several times a month. Now whether they matter to the value of your house this week….)
I believe the only place national stats matter is when youâ€™re talking mortgage loan rates and the housing market lags mortgage rates. The rates are going up, thatâ€™s why housing sales are decreasing, itâ€™s not the other way around. So really, I donâ€™t think national stats matter at all when youâ€™re thinking about selling or buying a homeâ€¦ the local stats matter significantly more.
My Red Passion has The Art of Negotiating When Buying a New(er) Car which contains one tip I had never heard before:
Helpful Tip: Before you test drive, the sales person will ask to see your driverâ€™s license. Standard procedure, so thatâ€™s cool. Show it to him (note: Iâ€™m not assuming all car sales people are men) but donâ€™t let him take it out of your hands…Never let the dealer hold your driver’s license. Stand firm and say “NO! I’m licensed to drive and thatâ€™s all you need to know.” If they continue to press for it, LEAVE. They will use your personal info to run your credit, which they will use to determine what you can afford and how to plan their approach to make the highest commission. Ya didn’t know a business could pull your credit without your social? HA! You’d be amazed. They only need 2 or more data points (i.e. name, address, employer, phone number, ss#, etc.) and your consumer history is in their hands. Is this legal, hmm? Can it be done, YES!
ETF Investor has some model portfolios for Exchange Traded Funds ranging from Conservative to Aggressive Growth.
Laws of Finance worries that the dollar may be doomed but he has the solution â€“ diversify
abroad. (Or as I like to say, Grow Global. Even if the dollar isn’t doomed, keeping a portion of your portfolio in other markets for diversification and/or growth is worth considering.)
This canâ€™t continue forever, folks. Eventually there will be a correction, and I predict it will be in a big way. Once foreigners get worried that they are too heavy into U.S. assets, they will begin to sell. This may fuel some kind of worldwide panic to dump U.S. assets. What does that mean? U.S. real estate and stock prices will fall, while interest rates skyrocket. Remember those days? I donâ€™t. Iâ€™m too young, but I have heard about them.
Blueprint for Financial Prosperity has a piece of very good advice with â€œI Always Use Limit Ordersâ€. (Since the discount broker I’ve used for most trading charges the same amount for a limit order as for a market order, I never understood why you would place a market order either.)
(if you keep an eye out youâ€™ll see crazier things, like 2000 shares at $1)
What happens is you put in your market order, it gets matched to a crazy bid, and you get screwed because you were willing to sell or buy at any price.