Carnival of Personal Finance #143 – Oh Canada Edition

Welcome to the Carnival of Personal Finance edition #143!

As you might have guessed by the flag in the header, this blog is based in Canada so I thought it would be fun to have a Canadian theme!

Bob and Doug Mackenzie were part of the show SCTV (Second City TV) which is one of my all time favourite shows.

Top hoser picks

Squawkfox has gone to the dogs this week with ten financial lessons she learned from her dog. Any dog named “Tivo” is ok by me! (This was my favourite post of the carnival.)

• Amateur Asset Allocator wrote an excellent post on variable annuities and why most people shouldn’t buy them. Very easy to understand article.
• Paid Twice loves her pre-paid cell phone and looks at some good cell phone deals.
• Beyond Paycheck to Paycheck wrote about home affordability guidelines now that the boom is over.
• Funny About Money wrote about something that isn’t funny at all – libel and slander insurance for bloggers. Check this one out if you are a blogger!
• Pinching Copper explains very clearly why they rent.
• Money Under Thirty gives four excellent reasons why we spend more than we should in a review of the book “Going Broke: Why Americans Can’t Hold On To Their Money”.

photo by pointnshoot

Hockey is the most popular sport in Canada – by far!

Best skaters

• A Penny Closer faces some harsh decisions when deciding on rental applications.
• Finance Freelance Life tells us how to hide money from an abusive spouse.
• Brip Blap says that the days of double digit equity returns are over.
• Value For Your Life explains how to get your spouse involved with the finances.
• The Financial Blogger tells why he doesn’t like free government services and would rather pay for them.
• Canadian Dream wrote a post about the new Canadian Roth. Ok, it’s not exactly a Roth but close enough.
• Prime Time Money has a good analysis for the question should I pay the minimum payment on my credit card or the whole thing?
• Not The Jet Set describes some friends who are a financial train wreck waiting to happen and wonders has anyone learned anything?
• Stock Market Investing For Beginners does a brief biography on the king of equities, Benjamin Graham.
• Blunt Money says that people who make excuses for not changing their financial habits need to alter the wording of their excuses.
• Cash Money Life is dedicating this week to giving away free stuff (including money).

photo by dobakCanada Goose – I didn’t even realize until I looked it up, that “Canada” is actually part of the name for these birds. I always thought it was just the name Canadians called geese.

The Canada geesers

• Million Dollar Journey had an interesting look at 30 personal rules of thumb. and provides some good analysis of them.
• My Two Dollars did a post on one of the few Dave Ramsey ideas that I completely agree with, college funding for children.
• So Sick of Debt wrote a pretty good piece on trying to have patience with reducing debt. I feel the same way about my mortgage but do I want to be older and debt free?
• Military Finance Network has some excellent advice to guard yourself against identity theft and what to do if it happens to you.
• My Dollar Plan had a very interesting article on why her retirement contributions are decreasing as a percentage. Turns out, it’s a pretty good strategy.
• Being Frugal gives some guidance as to how to make a budget that works, from her own experience.
• Bible Money Matters did a three week tryout of buxfer.com which is a personal finance software.
• Moolanomy came up with 40 Alternative Income Ideas and Resources.
• Living Off Dividends is happy that his passive income has passed $2000 per month. Way to go!
• FIRE Finance goes over all the details of a check scam.

Terry Fox is one of the biggest heroes from my youth. He lost part of his leg to cancer, started running across Canada to raise money for research and although he didn’t make it all the way across the country, he captured the imagination of the entire nation and raised the level of awareness for cancer research.

Terry Fox selections

• Blueprint for Financial Prosperity says don’t invest in the stock market.
• Free Money Finance shows how it’s possible to improve your place in life, no matter how bad things are.
• Where Does All My Money Go analyzes the sale of Manhattan back in 1626.
• Economic Essays shows how to survive a recession.
• Plonkee Money talks about expat finances for people who have worked abroad.
• Chance Favors submitted a very useful post on how to reduce your taxable income if you are a blogger or self-employed.
• Ryan posts about his 24 hour rule which prevents him from making some bad decisions.
• No Debt Plan says that playing the lottery is just plain dumb.
• Don’t Mess With Taxes covers some business expenses related to phones.
• Free From Broke is considering buying another house by borrowing against his current property.

photo by VigourWhile moose are not exclusive to Canada, I always think of them as Canadian.

Moose selections

• The Personal Financier goes over his steps to buying a home.
• Money Blue Book answers questions about the tax rebate check.
• Rather Be Shopping says that getting your finances under control can mean peace of mind.
• Consumer Commentary had a post about teaching financial skills to teens with learning disabilities.
• The Digerati Life says that small change can eventually add up to a million dollars.
• Debtbeater explains what he did with their tax refund.
• Credit addict explains how to place a fraud alert on your credit record.
• Five Cent Nickel gives us twelve tips for preparing your house for sale.
• Everyday Finance highlights some new investment products which will hedge your personal exposure to gasoline prices.
• Mighty Bargain Hunter contemplates writing his own tax software.

photo by Steve DegerThe loon is another animal which is very common in Canada.

The “loonies” of the carnival

• Wide Open Wallet teaches her kids about money.
• The Dividend Guy reveals his top three investing mistakes.
• Finance ViewPoint writes about those pesky bank fees and how to avoid them.
• The Coin Jar explains their decision to not buy a bigger house. It’s nice to hear a story about someone making do with what they have.
• Dividends For Life says that he’s dealing with low paying interest accounts by getting into dividend stocks quicker.
• Online Savings Blog wrestles with the conundrum of short term goals vs. long term goals.
  
• How to live well on nothing a year has some suggestions on how to build an emergency fund.
• The Happy Rock is trying to write a check on his ING orange account.
• Millionaire Money Habits does a review of Zecco.

photo by Vigour
And of course you can’t have a Canadian carnival without including the mighty beaver:

• All About The Ben talks about options available for green investing.
• Can I Get Rich On A Salary explains his various bank accounts.
• Oh My Aching Debts has found a new way to save money.
• The Great Loan Blog tells us why we don’t understand mortgage rates.
• A Dollar a Day talks about her educational choices.
• Business is Personal created some spreadsheets to show investments returns across different tax structures.
• Daily Money Tips quotes Buffet when talking about how high the Dow can rise.
• Think Your Way to Wealth has some wealth building suggestions.
• Uncommon Cents says the bond market is just fine.
• My Debt Free Life has some cheap recipes.
• Ask Mr. Credit Card gives us the breakdown of his credit card expenses.
• Pennies to Nickels saves money for a car trip.
• Save and Conquer explains how they save money on daycare.
• Trees Full of Money puts forth a pretty good argument for having a one income household.
• Increase revenue, decrease cost says you should have an emergency fund.
• Father Sez sez that you should look for opportunities.
• One Million and Beyond says that paying down debt takes time.
• Smart Easy Money thinks that money can buy you happiness.
• Marc and Angel have 11 practical things to spend money on.