Pimp Your Finances

The holidays are rapidly approaching, but I found time to put together this week’s links.  Enjoy!

• Flexo at Consumerism Commentary is now debt free!  He finished paying off the last of the last of his debt on December 15th.  It’s very encouraging and motivating to read about the success stories of others.
• J.D. at Get Rich Slowly takes a detailed look at how much the stock market really returns.  It’s important to remember that even in a down economy, the stock market is still the best chance we have for building weath.
• The Oblivious Investor and Warren Buffett both agree – to reduce risk and be successful in investing, you need to be able to understand what you’re investing in.  Adivce like this could have prevented investors from falling for Bernard Madoff’s scam.
• The Money Hawk challenges Ramit Sethi (of I Will Teach You to Be Rich) on his recent advice to buy new cars instead of used.  I’m interested in it, because I agree with the Money Hawk that buying used is a better value.  I bought a used car three years ago and have never regretted it.
• Free Money Finance writes about how a hobby can be turned into a big source of income.  It’s a great eye opener and source of inspiration.  Who doesn’t want to get paid to do something they enjoy?
• My fun link this week is finance related, so I’ll give you two links to make up for it.  This week, the Onion explains why the economy collapsed, and also reported on how the Financial industry celebrated its $700 billion bailout with lavish $800 billion party.

I know its a holiday week, but I’ll still be here with new posts, so check back frequently.  And remember to have a safe and happy holiday!