Pimp Your Finances

In some ways, improving your finances is a lot like growing a mustache.

It starts with a plan, and isn’t something that happens overnight. You have to work hard at it, make sacrifices, and always keep your goals in mind.

It takes patience, and regular care. But if you get overzealous with maintenance, you may end up ruining all your hard work.

Another way they’re alike? At this point in my life, I’m not able to do what I want with my money or my facial hair.

While I may not be able to harness the awesome power of the mustache, there are some people that have done it so well, that it became a crucial part of their image and success.

I think there is a lot to learn from these mustachioed moguls, so I chose mustaches as the theme for this edition of the Carnival of Twenty Something Finances.

I hope you enjoy!

Editor’s picks

What you want to do, and what you can do, is limited only by what you can dream

- Mike Melville

• Pinyo at Moolanomy explains Dave Ramsey’s Baby Steps in great detail, including advantages and counterpoints.
• J. Money at Budgets are Sexy. is good at naming things. His site has a great name, and so does his submission: Wow, Wal-Mart is Almost as Big as My Johnson! It gives some facts about the super giant that you may not be aware of.
• DR at The Dough Roller has a great post on the 10 Lies That Got You (and Keep You) in Credit Card Debt. I’ve fallen for at least half of them, and I may be falling for one or two of them now. Are you lying to yourself?
• Kathryn at Out of Debt – Christian Finances and Debt Help has an intriguing post on how We Can All Afford to be Generous. I really enjoyed this post, as she had a chance encounter with a stranger that helped open her eyes.
• Personal Finance Blog by Money Ning writes about The Latte Factor and Becoming a Millionaire. We’ve all ready about how if you stop buying coffee everyday, you’ll become a millionaire. So why aren’t more people millionaires? Money Ning breaks debunks this often used example, and instead points us towards the bigger picture.

Banking – The Monopoly Man

The Monopoly Man has his hands in everything…real estate, beauty pageants, stocks, but he is best known for his work with money and as a banker

• Savings Toolbox gives us 5 Ways Saving Online makes sense.
• Sam at Personal Finance Ology  presents Online Banks vs. Traditional Banks (Which is right for you?).
• Cody at Investment for Beginners explains What is a Money Market Account, and How Does it Work?
• Wren at Tired of Being Poor reviews Mint.com, a free online personal finance service.
• Shaun at Short Term Loans writes about how Short-Term Loans Cause Long-Term Destruction.

Budgeting – Jack Sparrow

 Why is the rum always gone?!?

- Captain Jack Sparrow

Jack Sparrow may be a good pirate, but budgeting skills could use some improvement. If he was more careful with planning his rum consumption, maybe he wouldn’t find himself with an empty bottle quite so often.

• Patrick at Cash Money Life reviews the popular budgeting software Why You Need a Budget. He also includes a coupon code so you can buy it at a discount.
• KClau’s Money Tips has a tongue in cheek post on how to Save Money the Stupid Way. Sometimes the best advice is also the most simple.

Career - Burt Reynolds

 The only way you can hurt anyone in this business is by succeeding and hurting their pocketbook maybe, or just smiling and not giving up.

- Burt Reynolds

Burt Reynolds career spans more than four decades, and includes appearances in more than 90 films and 300 television episodes. A big part of his success has been due to his refusal to give up, regardless of what critics have said. He’s a good reminder that you need to keep on trying trying, and forge your own path throughout your career.

• Dawn at Dawn’s Evolution reminds us all to Never Be Afraid to Take on New Challenges in your Career.
• Debt Kid asks Are You Having Any Fun? Yes, I Love My Work. Lucky!

Cars - Dale Earnhardt

 It’s the never ending battle of making your cars better and also trying to better yourself.

- Dale Earnhardt

The Intimidator struck a chord with fans because of his aggressive driving on the track, and his blue collar roots at home. As tragic as his death was, he died doing exactly what he loved: racing hard on the last turn of the last lap of NASCAR’s biggest race.

To this day, Dale Earnhardt is one of the highest grossing dead celebrities. He’s the only person to have his own edition of Monopoly. And more than anyone on the list, he could tell you the value of a properly maintained car.

• Living Almost Large presents Borrowing a Car? He’s not the one doing the borrowing though… his roommate is. And it doesn’t seem like the roomie is really paying his fair share, so he’s not sure what to do.
• Shaun at Learn Financial Planning has a good list of 7 Questions to Ask Yourself Before Buying a Car. Buying a car and house are two of the biggest purchases you can make. You don’t want to mess them up.
• Sigrid at A1 How To writes about Technology and Low Car Insurance Rates – What is the Link?

Changing the way you think – Earl Hickey

I learned a valuable lesson that night. If you’re going to try to fly a bicycle, you’d better make sure E.T is sittin’ in your basket instead of a twelve pack of beer.

- Earl Hickey

My Name is Earl is one of my favorite shows. The lead character has found that he’s actually happier and better off when he treats others with respect. Changing the way he thinks has improved his life more than any amount of money ever could.

• Dorian at The Personal Financier ponders: Is Rationalization the Key to Happiness?
• Megan at Counting Your Pennies has a cautionary tale about how Friends and Money Don’t Mix.
• Always the Planner was nearly forced to stop writing when someone gave away her true identity. Now she asks, Would You Go Public? Note – my sincerest apologies to Always the Planner! I assumed they were a “he”, when in fact they are a “she”. I should have checked rather than assume.  I’m sorry!

Credit Cards and Debt – Borat

 When you chase a dream, especially one with plastic chests, you sometimes do not see what is right in front of you.

- Borat Sagdiyev

Borat traveled across the country chasing a dream that is full of plastic, and it almost led to his ruin. If your dreams require a significant amount of plastic to get there, you could end up down a similar path. Debit and credit cannot be used to finance your happiness.

• PF Credit Cards explains Why He Still Gets His Bills and Credit Card Statements in Paper.
• Leave Debt Behind offers some tips on How to Pay Down Your Debt Quickly.
• Finance Tips 101 presents Discover How to Pay Off Debt.
• Destory Debt has ~25 Get Out of Debt Tips.
• Travis at Christian Money Mountain writes about his Money Dilemma. Should he pay off student loans or his car loan?

Education – Gandalf

You can learn everything there is to know about [Hobbits'] ways in a month, and after a hundred years they can still surprise you.

- Gandalf

Gandalf was unique among the great and powerful of Middle Earth. Not because of his abilities, but in how he approached learning. Others sought education as a means to an end; to increase their power. Gandalf alone sought learning so that he could better recognize his limits. As a result, he became truly great, while the powers of others – like Saurman – crumbled.

• Patrick at Military Finance Network writes about Extra College Money for Military Members and Veterans.
• Tom at FCC Student Blog has 7 Ways to Get Good Grades in College.
• Jeff at Good Financial Cents explains how Graduating College Debt Free Can Be Life Changing.

Frugality - Walter Sobchak

Look, just because we’re bereaved, that doesn’t make us saps!

- Walter Sobchak

Walter knows frugality. Even when he’s mourning for one of his best friends, he doesn’t let his emotion get the best of him. He saved thousands by walking to a Ralph’s, and buying a can of coffee to use an as urn. If that’s not a great example of how to save on big purchases, I don’t know what is.

• Rob at Energy Saving Gadgets reviews Watts Up Pro – Kill a Watt Monitor. If you’re serious about monitoring your power usage and really clamping down on your electricity bill, then this is the device for you.
• Tristan at Find Financial Freedom has some Frugal Living Tips to Beat the Recession.
• How I Save Money takes a different approach. Instead of giving tips, they debunk other so-called tips in their post on Frugal Frauds Revealed.
• David at Personal Finance Analyst is tackling one of the biggest energy users, in his post on Keeping Cool on the Cheap – How to Save on Air Conditioning.
• Coopon Artist shares 6 Places to Find Cheap (Quality?) Furniture.
• ChristianPF at Christian Personal Finance Blog goes over a list of the Top 10 Money Wasters. How many of these are you falling for? They’re easy ways to save more money without sacrificing your lifestyle.

Investing - Tom Selleck

I praise CBS for taking a risk, which is always the price you pay for opportunity.

- Tom Selleck

Tom Selleck knows that if you want a payoff, you’re going to have to expose yourself to risk. The bigger the payoff you want, the more risk is involved.

• The Investor at Monevator did a great job breaking down Warren Buffet’s Annual Letter to Shareholders.
•  Super Saver at My Wealth Builder goes over some of the rules of bear markets in his post on Bear Market Maxims.
• Patricia at Bankling brings us The Ultimate Guide to Ponzi Schemes. It’s been going on for a long time before Madoff did it.
•  The Investing School explains in detail What are Treasury Securities.
•  Llama Money (love the name!) asks whether we’re ignoring the most basic investing advice  in his post on Investing - a Conundrum.
• Matthew at Fine Tuned Finances takes a look at investment options other than stocks in his submission A Comparison of No-Risk Investment Options.
• Money Confidentialexamines the nature of cause, effect, and stimuluses in his post Post Hoc Ergo Propter Hoc.
• Kyle at Suburban Dollar explains What is a Ponzi Scheme.
• Marcus at Stock Market Investing for Beginners presents Buying Stocks for Beginners. An entry level guide to the stock market.

Media - Ron Burgundy

 I’m not a baby. I am a man. I am an anchorman.

- Ron Burgundy

Ron Burgundy may just be a comic stereotype of media personalities, but recently I feel like it’s not too far from the truth.

• Michael at The Political and Financial Markets Commentator doesn’t like the experts either, and warns us to Beware the Misleading Nature of 24 Hour Business News.
• Dana at The Investoralist takes a look at some of the excuses we’ve been hearing from the media in her post What’s a Reporter to Do?

Real Estate - Bill the Butcher

 Each of the Five Points is a finger. When I close my hand it becomes a fist. And, if I wish, I can turn it against you.

- Bill the Butcher

You probably don’t use your home or apartment to run a gang, but decisions about real estate are still the biggest and most expensive that we make. You need to be very careful when making housing choices.

• Matthew at American Consumer News has a good post on Common Mistakes First Time Home Renters Make. It’s not often that someone covers the first time renting situation.
• Dan at Darwin’s Finance says Mortgage Rates are Dropping to Record Lows – is it Time to Refinance?

Taxes – Albert Einstein

The hardest thing in the world to understand is the income tax.

- Albert Einstein

If Einstein thought taxes were confusing, then chances are that you and I could use a little help with them.

• Stephanie at Poorer Than You has some ideas on how and to Save Your Tax Refund.
• Tax Hacks explains some of the Changes for the 2008 Tax Laws.
• Ben at Money Smart Life wants you to get more money back on your taxes. He wrote a post about Tax Deductions and Personal Exemptions for 2008.

That’s it for this edition of the Carnival of Twenty Something Finances. I hope that you enjoyed the mustache theme, had some fun, and learned some valuable lessons.

Thanks for reading!