Welcome to the Carnival of Personal Finance!  It’s officially Cyber Monday 2008, the online doppelgaenger to Black Friday.  This term was coined by the American Retail Federation three years ago after a majority of online retailers saw their sales go up the Monday after Thanksgiving.  Snopes found that the busiest online shopping day is not Cyber Monday but a couple of weeks after.  Regardless of whether online shoppers are only lukewarm about today, one thing’s for sure: there’s way less danger of getting injured by an online shopping cart.

So enjoy the Carnival, and head over to Amazon or eBay with full assurance that the Internet will completely protect you from e-bruising by other online shoppers!

Posts on Budgeting

• Mighty Bargain Hunter gives ways to save on food, clothing, and shelter.
• Canadian Dream: Free at 45 reveals his spending weakness.
• Studenomics asks if you’re cash-strapped this holiday season.
• M is for Money talks about zero-based budgeting.
• Green Panda Treehouse asks a hard question: “Do you pay your mortgage or your medical bills?”
• Penny Jobs asks a good question for tough times: “What can I cut back on?“

Posts on Career

• Economic Crunch runs through a checklist for taking advantage of benefits on a new job.  (These things can be a nice supplement to your salary.)
• Monagomoney offers parallel advice with five things to do if you get laid off.  (Hopefully you’re not needing both this advice and the previous advice in the same day.)
• Dog Ate My Finances (ha!) will take Common Sense for $200, Alex.  (Note:  Careful punctuation is crucial in this blog’s tagline.  Imagine, if you will, a misplaced colon: “Mid twenties.  Big salary.  Paying for some mistakes:  a wedding, and life.”  The name would then have to be changed to Alimony Ate My Finances.)
• Beating Broke asks: “What is freedom worth?“

Posts on Credit and Debt

• Free From Broke chats about medical treatment and how it can affect your credit.  (Especially if the costs are big.)
• Credit Toolbox discusses some aspects of refinancing consumer debt.
• Blueprint for Financial Prosperity has a list of 0% balance transfer offers.  (Fifty different offers.  You should be able to do a 0% transfer of the national debt with this volume of plastic.)
• Ask Mr. Credit Card: “Should teenagers have credit cards?”
• Discover Debt Freedom has some advice for someone trying to get out of debt for the first time.
• Single Guy Money has a credit score checkup.
• My Family’s Money talks about two states’ propositions on payday loans.
• Destroy Debt discusses debt settlement and some factors to consider before doing it.
• Think Your Way To Wealth gives a closer look at the Baby Steps plan.
• Debt Goal tells how to say “no” to your children this holiday season correctly.

Posts on The Economy

• Wide Open Wallet has some ideas as to what the government should be doing during the recession.  (I have my own thoughts but I like to keep this blog clean.)
• Everyday Finance – the Blog of a Thousand Tabs — has some choice words to say about repricing employee stock options.  (Ahh, stock options.  What a cool dream.)
• Amateur Asset Allocator postulates on what a privatized social security system would look like.
• Funny about Money observes that the Dow is up, in spite of it all.  (Yeah, I don’t buy it either.  The market’s always right, but remember, it’s still down over 5,000 points from its high.)
• Frugal in the Fruitlands reviews The Two-Income Trap.
• The Sun’s Financial Diary reports on the extent of the malaise in the banking industry.
• Earn What You Spend discusses some of the relevant financial news as the incoming administration gears up.
• No Credit Needed questions whether spending patterns are in line with the direction the economy is heading.
• Brip Blap gives a superb answer to the question: “Do you need a bailout?“

Posts on Finance

• The Strump wonders why we don’t like to talk about money.  (It’s dangerous, especially if you were wise enough to sell your stocks a while back.)
• InsureBlog discusses discounts and medical plans.
• Accumulating Money talks about Social Security insurance.
• Harvesting Dollars suggests making this year’s bonus season different.  (Assuming you get a bonus, of course.)

Posts on Frugality

• Just Thrive explains three rules for giving the perfect gift without necessarily spending a lot of money.  (Money is tight, so make the most out of your gift-giving.)
• Debt Free Saver has a very simple suggestion for holiday gift-giving.  (It gets back to the basic of gift-giving!)
• Money Ning asks whether we always think that saving money is worth it.
• Monroe on a Budget rattles off some practical Christmas gift ideas.
• The Smarter Wallet has some tips for the early-bird traveler.
• Online Saving Blog tells how to avoid the Black Friday hype.
• Uncommon Cents discusses personal opportunity cost.

Posts on Investing

• Investing School explains the important aspects of bond funds.  (I love how he reminds us that even US Treasuries can default. I happen to agree, but rates will go way up before they do that.)
• Crash Market Stocks goes through the basics of buying and selling options contracts.
• The Financial Blogger wonders if the Dogs of the Dow have had their day.
• Intelligent Speculator questions whether corporate bonds are really safer investments.  (Than, say, Forever Stamps.)
• Dividends4Life discusses how to manage your dividend portfolio in a downturn.
• Four Pillars discusses whether we’ve reached the death of index investing.
• ABCs of Investing gives a quick tutorial on index funds.
• Dividend Growth Investor discusses why companies should pay dividends.
• Greener Pastures talks about the Standard & Poor’s Aristocrat Indexes.
• Monevator shows how to get rich by playing a video game.  (Nice spin on things.)
• Cash Money Life recommends making some year-end retirement account moves.
• The Dividend Guy sold some dividend cut stocks.
• The Dough Roller asks if you follow the 50-50 rule of mutual fund investing.  (Click to see what the fifties are.)
• No Debt Plan continues the “No Debt Plan” series with a post on investing for retirement.  (Very nice post.)

Posts on Money Management

• Crackerjack Greenback questions whether you can really trust your financial adviser.  (It makes good sense to follow the money.)
• Smart Money Daily takes a look at whether winning the lottery is all it’s cracked up to be.  (After reading the post, I’ll probably never buy a lottery ticket.)
• About.com Financial Software lists eight good iGoogle financial gadgets.
• Wisdom Journal lays out ten economic truths we cannot ignore.
• Christian Personal Finance advocates letting your finances see the light of day.
• Sound Money Matters asks: “To gift card, or not to gift card.“  (That is the question.)
• American Consumer News doesn’t buy the two months’ salary thing.  (I don’t either.  But if I were a high-powered CEO with a yearly salary of $1, well … “Here’s your Secret Decoder Ring.  Will you marry me?”)
• My Wealth Builder lists a few personal finance strategies that have helped during times of economic crisis.

Posts on Real Estate

• Living After Foreclosure has some suggestions if you’re facing foreclosure.
• Insurance Toolbox comes through with seven practical tips for reducing your homeowner’s insurance expense.  (Some of these tips have other good side-effects in addition to lowering your insurance bill.)
• Growing Money Blog posts a rental property update.

Posts on Saving and Taxes

• Stumble Forward gives five tips to creating a stellar emergency fund.  (Covers the basics well.)
• Blogging Banks posts the best CD rates around.
• Dollar Frugal is sounding the charge and telling people to continue hypermiling.  (Great advice.  Gas prices are low because of the recession.  They’re still going to go way up as supply crunches hit.)
• The Happy Rock pits Black Friday against Buy Nothing Day.
• Deposit Accounts talks about flexible spending accounts.
• Money Smart Life compares a couple of online bank accounts.
• Saving To Invest has some end-of-year tax tips, among other things.  (Gee, I can’t imagine anyone would have capital losses this year to deduct, as kind as the market’s been to people, but just in case you do …)
• Online Banking Blog shows how to choose the best bank account.

Other Posts

• Happiness is Better lists three keys to banana-free living.  (Sounds a-peeling.)
• Curious Cat discusses a financial Thanksgiving.
• Free Money Finance asks if you’re using your dollar coins.  (All the time, man!)
• Chief Family Officer has an emergency preparedness checklist for personal finance matters.
• Digerati Life wonders if there’s any good time to start a business.
• Budgets Are Sexy is uber-tempted by sales e-mails.
• Living Almost Large asks if one should feel guilty for success.  (Absolutely not!)
• Prime Time Money gives six ways to argue less about money.

I bet this whole financial mess has made everyone of you open your eyes and question your wants, question your income, question your money management (or the lack of it), question your expenses, question your investment strategies, question your job security, question your $10-per-workday lunches, question your credit card statements, question your insurance coverages ….. sort of made you question your attitude towards money.

For those of you who still have your jobs, I bet you feel fortunate (and generally crib less about being less paid, etc.) - and I bet you are putting in extra efforts to make sure that someone higher up notices your hard work before you get into the to-be-laid-off list.

It has made people question their governments, and governments question their respective policies.

On my part, I have convinced at least half a dozen young people (close friends and relatives) to open their minds about saving more and/or investing in the stock market (on the argument that it’s a good time to buy stocks, develop good money saving habits, etc.). It’s a happy feeling (almost a proud feeling) when these guys and gals discuss interest rates, stocks, ETFs, and portfolio diversification over lunches and other casual meetings.

Of course there is much suffering and stress, but hopefully most of us will come out of it with several lessons for life. Hopefully, adversity will bring out the best of our efficiency and adaptability.

As it is, we have to read/hear bad news everyday … just thought I should throw in a pinch of positive out there.

My sister-in-law has cancer.

Last week, a biopsy revealed that Stephanie has a cancerous lump on her thyroid. She’ll likely have her thyroid removed, meaning she’ll need to take medication for the rest of her life. (She’s 37 years old.) She’ll also probably need a handful of radioactive iodine chemotherapy treatments.

Prognosis positive
Jeff and Stephanie have both settled down a bit after the initial scare. They’ve heard from many sources, including Steph’s grandmother, that this form (and location) of cancer is easy to eliminate, and has a low chance of spreading or recurring. Steph’s grandmother had her thyroid removed years ago (due to a growth on it), and she is now 77 years old.

Still, this is cancer, which no member of my family takes lightly. My father died from cancer ten days before his fiftieth birthday. Last summer, cancer killed a cousin at age 47. Other family members have died from the disease as well.

A lucky mistake
A situation like this has enormous personal finance implications. Steph’s case is especially interesting because it demonstrates that sometimes the “right choice” isn’t.

Before the birth of their daughter in February 2006, Stephanie obtained a supplemental hospital/short-term disability insurance policy because she knew she would need a C-section. After Emily was born, Steph tried to cancel the policy, but the agent talked her into switching to a cheaper cancer/accident policy instead.

Inspired in part by Get Rich Slowly, Jeff and Steph have been taking control of their personal finances. This past May, when it came time for her office to renew policies, Stephanie asked to have her cancer/accident policy canceled because she wanted to save the $70 recurring monthly expense.

After the cancer diagnosis came through, Jeff and Stephanie were kicking themselves for having canceled the policy — it would have offset some of their upcoming costs. Then Steph remembered that both of her June paycheck stubs still had the deductions listed. She called her agent to see if her policies were still in force. Sure enough, the official cancel date was July 1st, so the agent was able to revoke the cancelation.

“I don’t know if it will pay out enough to compensate for all the premiums we’ve paid in the last two years,” Jeff writes, “but at this point I don’t care. If it helps with the medical bills that are bound to accrue, that’s all that matters.”

A calculated risk
Stephanie’s situation highlights just how difficult it can be to know how much (and what kind of) insurance to carry. It seemed unlikely that she’d need the cancer policy, so she canceled it. From a Big Picture perspective, this was probably the right decision. But in her individual circumstance, it turned out to be the wrong move.

Last fall, in his brief introduction to insurance, Aaron Pinkston wrote that “insurance is the cheapest and most immediate way for a person to displace risks that are too great to assume individually”. That is, insurance allows groups to pool their money to offset unexpected large individual costs.

But how can you decide how much insurance you need? And what types? Later today, I’ll share a guest post about making informed insurance choices.

Meanwhile, friends and family are ready to help Jeff and Stephanie through this crisis. And although they have bigger things to worry about, it gives them a degree of comfort to know they have a little insurance to help with the financial challenges that loom ahead.

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Related Articles at Get Rich Slowly:

• Ask the Readers: Personal Finance During a Health Crisis?
• Daily Roundup: Bringing Home the Bacon Edition
• Daily Links: My Favorite Stories from the Past Two Years
• Drama in Real Life: “You’re Fired!”
• Get Rich Slowly’s Greatest Hits (2007 Edition)

When you get engaged, you’re not just promising to marry a person; you’re also marrying their money habits, their debt, and credit history.  If you’re not careful, unknown money issues can not only ruin a marriage but sink you deep into debt.

Hiding Credit Card Debt
Here’s a sad story of a former co-worker whose life was turned upside down by his spouse’s debt.  I met up with him for lunch yesterday to catch up and couldn’t believe the story he had to tell.

His wife had 50K of credit card debt coming into their marriage that she didn’t tell him about until several years after they were married.  She was only making minimum payments so over the years the interest mounted and the debt continued to grow.

He had owned a home prior to the marriage and they finally they decided to tap into it’s equity and take out a loan to pay off most of her debt. A few days later he comes home to find her packing her bags and on her way out the door.  Of course he didn’t share this story with anyone for quite a while since it was so painful and embarrassing but now happily he’s met someone new and is moving on. 

What’s the morale of the story?  Find out about your future spouse’s finances before you get married.  To help you do that, here are some questions to ask, courtesy of Real Simple:

Ten Romantic Debt Questions for Your Fiancé

• Do you use credit cards for everyday expenses?
• Do you pay your credit-card balance in full each month?
• Have you ever maxed out your credit cards?
• How many credit cards do you have?
• What are your debts?
• Have you looked at your credit reports in the last year?
• Did you ever require a cosigner for a loan?
• Have you ever been put into collection by a creditor?
• Are you a cosigner on anyone else’s loan?
• Do you have any tax or other liens pending?

These questions are obviously not very romantic but they’re definitely necessary things to ask.  Depending on your fiancé’s personality you might handle them in different ways.  It might be easiest to just sit down and go through them all straight up or you might have to slip in a carefully worded question here and there during the course of conversation. 

Here are some other finance questions the article suggests asking:

• Do you have a savings or checking account?
• Do you balance your checking account each month?
• Do you do research before making major purchases?
• Do you have a budget or a spending plan?
• Do you track your finances? How often?
• Are you aware of all your benefits at work?
• Do you have life insurance?
• Do you have health insurance?

Of course some of these things you might find out over the course of time as you get to know someone. However you do it, make sure you get these questions answered, I know my friend sure wishes he had.

Checking Their Credit History
If you’re worried that your fiancé is holding back information you could dig a little deeper. Not telling you everything is probably a bad sign for future marital communications but if you’re determined they might be the one you could always do some more research.

If you know their full name, social security number, date of birth, current address, and previous address you can probably pull your future spouse’s credit report to do some double checking.  Be aware checking their credit report without their permission can potentially get you into some trouble:

“Anyone who obtains a copy of someone else’s credit report under false pretenses can be fined substantially and jailed for up to a year.

Only businesses or individuals with a “permissible purpose” can access your credit report. “Permissible purpose” is defined in Section 604 of the Fair Credit Reporting Act (FCRA).“

Then again, if your fiancé is willing to throw you into jail for checking their credit history, probably a sign you don’t want to marry them.

How to Build Credit History
What if your future husband or wife doesn’t have any debt but they don’t have any credit history at all?  This happened to us, when we went to get a loan for our home my wife’s lack of credit history affected the interest rates we were eligible for. 

We ended up putting both our names on the title but only mine on the loan so that we could get a better interest rate but we wanted a way to help build her credit profile.

Our financial planner showed us a pretty slick way that worked wonders for my wife’s credit.  She put $1000 into a 12 month certificate of deposit at our local bank and then used the CD to get a secured loan from the same bank.

We setup our checking account to make automatic payments on the loan so she had a year’s worth of on time loan payments on her credit report. Then after 12 months we took the money out of the CD and paid off the loan.  The interest we had earned on the CD helped pay for most of the interest we had paid on the money we borrowed.

Marriage Money Summary
Get to know your fiancé’s money baggage and habits or they may come back to make you miserable, divorced, and in debt in the future.

When it comes to getting the best car loan deals then a lot of it will depend on your credit history. If you have a good credit past then this will go in your favour when it comes to getting the best rate of interest. However, all is not lost if you have had problems with credit in the past, although you still can get credit when it comes to getting a loan for a car you wont get the best interest rates, but by shopping around you can get a good car loan deal.

If you have an excellent credit rating then it might be in your best interest to go for a personal loan, by going for a personal loan you are able to shop around online and secure the cheapest loan and rate of interest. It also works another way in your best interests because as you already have the cash in your pocket by going for a personal loan you can go along to the dealer and offer cash.

The majority of time if you pay cash for your car then you can get extras; the dealer could knock something off the price you pay if you pay cash there and then or offer you bonuses such as money off your insurance. Another benefit is that you will drive away from the showroom knowing that the dealer isn't in a position to repossess the car should you miss a repayment.

One possibility when it comes to financing your car is to take the finance through the dealer where you choose to buy your car from. However the majority of times the rate of interest will be a lot higher than if you had shopped around for a personal loan, one of the biggest benefits of taking this type of finance is that it is easier to get but you of course will pay for this privilege.

If you do have bad credit history and have been turned down time and time again for credit, then it still might be possible for you to get a loan to buy a car. If you look online then there many places which now offer loans to those with bad credit ratings, however by doing so you can expect of course to have to pay a high rate of interest on the loan.

Whichever way you decide to go for your car loan deal the best place to start is to go online, the internet holds a vast amount of information about the different types of car loan deals that are available and also the best rates of interest or best offers at car dealerships.

About the Author

Louis Rix is a Director of NetCars, one of the UK's leading motoring websites. First established in January 2000, its mission is to become the number one site for used car searches and motoring information. NetCars also provide Used Cars, loans and insurance.