I’m really excited for my wife.  She showed some of her quilt patterns to the owner of a local quilt store, and the owner has decided to give a trial run to ten of her patterns!  She loves designing quilts so this is a big deal.  She’s also gearing up for a craft show.  A few of her patterns are here, and she blogs about quilting as well.

Here are some posts I pieced together from the great blogs in my reader:

• Mrs. Micah talks about anchoring as it applies to credit card minimum payments.
• Get Rich Slowly shares almost three dozen make-it-yourself gift ideas from his readers and other sources.
• Paid Twice gives five concrete tips for paying yourself first.
• Money Ning combines financial and physical well-being with this post.
• Green Panda Treehouse saved money with her own cable-phone-internet bundle.
• Smart Spending lists a number of Black Friday deal sites.
• Wisdom Journal offers some sound advice for weathering the dark economic cloud.
• Think Your Way to Wealth considers whether $2 gas is good or bad.
• Five Cent Nickel reports on the 2009 tax brackets.
• Don’t Mess with Taxes celebrates three years of tax blogging.
• All Financial Matters picked up on the guaranteed retirement account movement.  (Also known as Social Security 2.0.)
• Free Money Finance has a guest post on giving generously during hard times.
• The Simple Dollar posts on investing in skills for the slippery slope down.
• Chief Family Officer is very thankful for her family’s emergency fund.

Mighty Bargain Hunter’s Carnival participation:

• The Digerati Life included my income streams post in last week’s Carnival of Personal Finance.
• Money Ning included my forget the lolcats post in this week’s Carnival of Personal Finance.
• Simply Forties chose my basics of debt reduction post as an Editor’s Pick for this week’s Carnival of Debt Reduction.  Thank you!

Have a great week!

Al Gores whole basic theory is based on the LIE that CO2 causes global tempertures to rise.

Are record cold temperatures an indication of global cooling or a new ice age? NO

Are record cold temperatures an indication of global cooling or a new ice age? NO.

Fact: Carbon Dioxide levels in the atmosphere are at a record high, not just in human history, but in the geological record for the last 600,000 years Is this increased carbon dioxide the result of human activity? Almost certainly. We are digging up coal and pumping up oil that was buried over hundreds of millions of years. We are dumping the spent products of combustion into the atmosphere pretty quickly. Before we have exhausted the world's supply of coal and oil, we will raise carbon dioxide even higher.

Fact: Carbon Dioxide levels and global ice volume are inversely proportional in the geological record for the last 400,000 years.

Does Carbon Dioxide itself cause temperature to rise?

That is the popular theory. There is no appearent correlation between carbon dioxide and global temperature in longer term studies for the last 500,000,000 years (Nir J. Shaviv, Ján Veizer, "Celestial driver of Phanerozoic climate?" Geological Society of America Today 13:7 July 2003 p4-10). Actual temperature increase, measured by methods that may be tainted by the Urban Heat Island Effect, still show an increase less than 0.5C since 1880. While carbon dioxide content in the atmosphere has gone up continuously for more than 100 years, average global temperatures have risen as well as fallen during that period.

The drop in carbon dioxide levels observed during the ice ages may have caused the ice age, may be caused by the ice age or both may have a common cause, but are otherwise unrelated. Scientific analysis of the correlation between temperature and carbon dioxide indicate that rising temperatures PRECEDE carbon dioxide increases by about 800 years, suggesting that temperature causes carbon dioxide to rise, which is not the position of global warming theorists. (Caillon et al, "Timing of Atmospheric CO and Antarctic Temperature Changes Across Termination III", Science v299, March 2003, p1728-1731).

Global Temperature changes correspond more accurately to changes in solar activity than they do to the continuous rise in carbon dioxide during the last hundred years. (Friis-Christensen et al, "Length of the solar cycle: An indicator of solar activity closely associated with climate", Science, v254, 1991, p698-700) There is some evidence these data sets have begun to diverge in recent years, but the data is only published on the internet, not in scientific review journals. Current scientific data cannot be easily interpreted to portend global warming. Mathematical models can be constructed to project future temperature changes many different ways, but those mathematical models projecting large increases are considered "realistic" while straight line projections (which aren't very scary) are not popular, possibly because they are not exciting.

Is increased carbon dioxide bad for the environment if it has no effect on global temperature? No.

Carbon dioxide is a necessary nutrient that plants depend upon. Carbon Dioxide levels many times higher than current levels on earth improve plant growth and vitality. A significant portion of the increased farming productivity observed during the last 50 years may not be due to pestisides or improved techniques, but to the increasing levels of carbon dioxide in the atmosphere. (Sherwood B. Idso, Bruce A. Kimball, "Tree Growth in Carbon Dioxide Enriched Air and Its Implications for Global Carbon Cycling and Maximum Levels of Atmospheric CO2," Global Biogeochemical Cycles, 7(1993):3:537-555, p. 537-5380)

Is increased temperature bad for the earth?

In and of itself, temperature increase would not be bad. Longer growing seasons and increases in arable land would improve crop yields even more and increase the earths sustainable population. In the 1970s, when a broad consensus of scientific opinion and projections suggested the earth was rapidly cooling, mass-starvation was a cause for worry, but global warming would not have that particular effect.

For the non-human population of the earth, over hundreds or thousands of years global warming would change the viablility of species. Plants and animals would migrate, adapt or become extinct. Would it be worse, i.e. more deadly, than the ice ages that have fallen over the whole earth 4 times in the last 400,000 years? That would depend on the quickness with which the climate changes.

Global sealevels have been rising continuously for several centuries at a rate of 1-2mm per year. An acceleration of the rise in global sealevels would have a more significant effect than slower rates, but coastal cities will be forced to change with the times either way. Sea levels 18,000 years ago were 100 meters lower than they are today. Sea level has risen an average of 5.6mm per year for the last 18,000 years, so we are actually in a rather slow period geologically as far as sea level changes. During the "Little Ice Age" of 1650 to 1850, the rate of sea level rise was virtually halted, but we have now moved back into a relatively warmer period and sea levels are rising once again, but not yet at thier historical clip. About 3.5 million years ago, sea levels were around 30 meters higher than today.

The earth will change and we will change with it. Some of the changes we may cause, but other changes will be out of our hands. Change is not necessarily good or bad. Slow change is inevitable. The earth can adapt and so can we.

About the Author

Steve Johnson is writes on a large variety of subjects and topics. Currently Steve is involved in The Truth About Iraq

I try to keep it simple, and for me that means keeping the clutter down. Whenever possible I opt-out of paper bills and receive notices via email. I make payments electronically in order to minimize the number of stamps I have to lick. I send my tenants directly to the bank to post their payments and check their timeliness from the comfort of my nearest web browser.

But I’m still getting a mailbox full of junk – mainly due to a daily avalanche of catalogs. Big box retailers. Pet shops. Travel agents. Watches. Cigars (I’m a non-smoker). Wedding supplies (I’m already married). I get it all. The photo shows the haul of stuff that I threw out today.

This is a) a pain, b) dangerous, cause it makes it easier to lose something important like a bill or a check, and c) shamefully wasteful.

But there may be something that consumers can do.  The vast majority of this stuff is sent out by a single outfit, the Direct Marketing Association. If you go to their website you can opt out – either online or via mail. The online option requires that you submit a credit card.

I don’t yet know if this works – I just tried it today. According to their website it takes up to sixty days for your new preference to be registered. I’ll post a follow-up in two months time to see if my situation has improved.

Addendum, 6 August::  EA from New Hampshire points out in the comments that Catalog Choice is another option for shutting off the flow of unsolicited mail.  The DMA is the industry advocay group, whereas Catalog Choice is a non-profit environmental organization.  You can sign up on their website and customize delivery options. 

Any more bright ideas out there?

Here is an excerpt from an interesting article I read a few days ago:

Says Anthea Butler, an expert in Pentecostalism at the University of Rochester in New York: “The pastor’s not gonna say, ‘Go down to Wachovia and get a loan,’ but I have heard, ‘Even if you have a poor credit rating, God can still bless you ? if you put some faith out there [that is, make a big donation to the church], you’ll get that house or that car or that apartment.’ ” Adds J. Lee Grady, editor of the magazine Charisma: “It definitely goes on, that a preacher might say, ‘If you give this offering, God will give you a house.’ And if they did get the house, people did think that it was an answer to prayer, when in fact it was really bad banking policy.” If so, the situation offers a look at how a native-born faith built partially on American economic optimism entered into a toxic symbiosis with a pathological market.  …

“Narratives of how ‘God blessed me with my first house despite my credit’ were common. Sermons declaring ‘It’s your season to overflow’ supplanted messages of economic sobriety,” and “little attention was paid to … the dangers of using one’s home equity as an ATM to subsidize cars, clothes and vacations.”

Read the rest of it here.

In addition to Wall Street, it looks like the faith business also needs a little more scrutiny. Apart from that, I am always surprised at how gullible people can be when it comes to being sold out divine rhetoric.

If we keep up with this even God will need a bailout someday!

Finally, God helps those who help themselves, for everybody else there is Mastercard everybody else needs to clearly understand the meaning of the words “deliquency” and “foreclosure”.

As I mentioned on Monday, May brought the highest numbers of visitors this site has seen so far.  I decided to take a look at what people were most interested in over the course of the month.

Tracking your stimulus check was the most popular article, there must be a lot of people waiting to get their rebate money.

Gas prices are obviously on everyone’s mind, the topics of riding the bus to save gas money, different ways to save gas money commuting to work, and the best gas credit cards were popular with readers as well.

The series on personal finance issues for college graduates has garnered alot of interest from former college students entering the working world for the first time this summer.

People are getting ready for their summer trips and have found the saving money on vacation series useful in making their preparations.  This one is only partially complete with several more articles on the topic coming up soon.

With high gas prices, people must be looking for more in home entertainment. Saving money on online movie rentals with a free trial of Blockbuster Total Access was another popular one for the month.

Here are some of the more popular articles from The Money Writers during the month of May:

• Investing in the Stock Market Over the Past 10 Years: How Did Dollar-Cost Averaging Fare?
• how to make money without a job and why you should
• Frugal Tips I Can’t (or Won’t) Do
• Save Money on Gas Tips from Consumer Reports
• The Future of Personal Finance Tools
• Is Investing In Rental Property A Good Move?
• Why your Retirement Account is NOT an Emergency Fund

She’ll want that stimulus check now! Is it possible to win a million dollars and still file for bankruptcy in 2 months? Apparently so!

How to become a millionaire? Well winning a game show is one way to do it. But then again, here’s this story of such a “millionaire”, which I can only describe as a tale of riches to rags, or maybe of rags to riches to rags.

There’s this woman — no other than a State School Superintendent — who won a million dollars on the game show “Are You Smarter Than A Fifth Grader”? She won the grand prize and pledged to donate it to various schools. But since her win 2 months ago, her husband’s home building company has failed, forcing her family to file for bankruptcy.

Click this link or the image to see this CNN video.

Goes to show you just how tenuous our financial situation can be at any point in time. For many people, it only takes a layoff, one bad business cycle, one bad trade in the stock market or one major illness to wipe out the family’s fortunes. I covered a lot of this when I wrote about the only 3 reasons why people go bankrupt.

The game show winner is still honoring her promise to gift her winnings to schools, with the funds sheltered in a “gift foundation” that is supposed to be protected from her creditors. Hopefully, her donation stays intact and untouched throughout bankruptcy proceedings.

Now what else caught my eye this week? Some more reads from the financial web:

• The Sun’s Financial Diary: FDIC Problem Bank List Now Includes 171 Banks
• Money Smart Life: Black Friday Deals or Cyber Monday Savings?
• My Dollar Plan: An Administrative Error Could Cost You Your Retirement
• Bible Money Matters: Christmas Is For Debt?
• The Wallet: What’s Your Black Friday Strategy?
• Personal Finance Analyst: Online Consumer Education and Rip Off Report
• Happy Rock: The “Paying Cash” Experience - 2 Months Later

Recent Carnivals

• Carnival of Personal Finance
• Festival of Stocks
• Carnival of Money Hacks
• Review Bloggers Carnival
• Total Mind and Body Fitness Blog Carnival
• Best of Me Symphony

This is a post from The Digerati Life.

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Third World Poverty: The Real Solution

Aid to Africa

We all welcomed the campaign to address poverty in Africa and Tony Blair's commitment to it. When it was launched, the emphasis was on reducing debt and increasing aid from the rich Western nations. The priorities stated were to tackle disease, especially aids, and to generate economic activity.

At the time Blair retired, after 10 years as prime minister, progress in terms of contributions from the West had been extremely disappointing. The debt issue has been addressed in only 25% of the countries where relief is needed, and the aid contribution (separate from debt relief) from the rich Western nations to African countries has actually fallen.

Today, much more is being done by China, while India is becoming increasingly involved. A key factor is that, unlike Western finance, the aid from China comes without strings. Because the Chinese are happy enough with the trade which flows from their involvement, they make little effort to impose their culture on the recipient countries.

Self-Defeating Conditions

Apart from its inadequate volume, aid from the Europe and the USA has limited impact because of the conditions imposed with grants; notable by the USA and the UK. An obvious absurdity is the 'no abortion' condition imposed by the Bush administration on grants to tackle aids. (Fortunately, this condition is not applied to some of the grants from the USA non government sector - for example, the Gates Foundation.)

A second restriction, more generally applied - especially by the UK - is the insistence on privatisation. The failure, in terms of value for money for the public, of Thatcher, Major and Blair governments' private finance initiatives (PFIs) does not appear to have dampened the enthusiasm for applying them to other countries.

In some African countries this has resulted in people becoming worse off than before the aid was granted. An obvious example is an increase in the cost of water as a result of privatisation. As with most privatisation, what appeared to be a short-term benefit has been more than wiped out by longer-term disadvantage.

What Must Change?

So the first change must be to remove the privatisation requirement. It is recognised, of course, that private firms which have succeeded in developing countries have valuable expertise. However, this should be used in the context of public control; control on behalf of indigenous people by leaders democratically elected to represent them. Although it has to be accepted that private firms exist to act in their own interests, as their obligations to shareholders require, they must recognise that their interests are not the priority with grant-aided projects. The most they should expect is a reasonable, commercially calculated, return.

Second, steps must be taken to ensure that a much smaller proportion of aid is devoured by consultants in the donor countries. These consultants are often involved in negotiating the grants: some are paid more for a week's work than an African's annual income. And, too often, the focus is on the trade benefits to the donor nations, rather than on the needs of the recipients.

Unless radical, and urgent, changes are made, the West will continue to lose influence in Africa. Europe and the USA will not be able to compete with China and India, or other emerging powers such as Venezuela, if they persists with trading agreements and arrangements which favour the rich nations.

A New Strategy

In terms of strategy, the most urgent change is to shift the emphasis to job creation; integrated with education and training. For the longer-term, literacy and social and political education is as necessary as training in the skills required by the jobs directly related to the projects. Too often the requirement (in the conditions imposed with the grants) to complete projects in a specified period ignores the issue of permanent benefit.

The key to bringing about real improvement for the poor is to ensure that investment is used to release the resources that the countries already have. The most important resource is the expertise that people have acquired from their life experiences. Millions of Africans have to be entrepreneurs to make enough money merely to survive: many who fail in this respect are no longer of this world.

Those who are still with us have gained valuable knowledge about the obstacles to success in their environments - and have devised strategies to overcome them. It is the habit of the West to seek to impose its own structures, rather than support the recipient countries' own organisations. A typical example was when Blair set up his African Commission, instead of supporting an African initiative: the recently formed New Partnership for Africa's Development.

Another valuable resource is, of course, the fund of knowledge accumulated by businesses which have figured out how to succeed in difficult trading circumstances. In being able to turn a profit, such enterprises have acquired valuable insights into the varying operation of markets in different countries.

Although private companies are entitled to a reasonable return for their contributions to projects, they must recognise that the projects are not run for their benefit. Thee needs of the recipients are paramount but, as the Chinese have recognised, benefits flow without the imposition of strict conditions.

In other words the focus must be on the longer-term benefits which can occur only with the involvement, on an equal basis, of the people themselves. Providing the approach is to integrate education and training with economic development, this can lead to the evolution of processes for democratic participation.

Ending Waste and Corruption

These changes would make a major contribution to ending waste and corruption. Although these are usually highlighted as problems in developing countries, they apply at least as much to agents operating on behalf of the donors. In how many cases have individuals and businesses from the donor countries become more prosperous as a result of their involvement, but have left the recipient countries poorer?

Paul Wolfowitz, the leader of the World Bank who is no longer with us, identified tackling corruption as his priority. His demise resulted from focusing on corruption in the developing world, while ignoring it closer, much closer, to home. From his words and actions, it could be concluded that he believed that the same standards should not be applied to the rich in the West as to the poor in developing countries.

The assumption in the West that the main, or in some circles entire, problem is with the developing countries is not sustainable. This is not to argue that they do not have problems of corruption, but to quote John Christenson (The Guardian 30/5/07): 'For each dollar of aid that goes into Africa, at least Five dollars flows out under the table.'

Keith Wymer

June 2007

About the Author

40 years experience in further education

manager of international projects in many countries, including USA, Russia,Denmark, South Africa.

campaigner for equality and democracy and against racism

I don’t usually write much about credit cards here but this is something kind of interesting.

Charles Schwab is offering an unlimited 2% cash back on their Invest First Visa Credit Card*. The 2% reward gets deposited directly into your Schwab One brokerage account. If you can charge most of what you spend on a monthly basis, this could add up to a decent chunk of change.

My wife and I currently use a Wells Fargo cash-back Visa but it is capped at $500 per year. At a 2% reward, that’s $25,000 per year in spending. If you spend more than that, the Schwab card may not be a bad idea. Just don’t carry a balance!

* NOT an affiliate link.

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Tomorrow is Independence Day in the United States, a time for friends and family to gather and enjoy the early summer. I’m taking a l-o-n-g weekend, and won’t return until Monday. If I’m lucky, I’ll get a chance to play in the sprinkler.

In the meantime, I thought it would be fun to devote a thread to financial success stories. People send me e-mail all the time to say how they’ve taken control of their personal finances. I love to read these tales, and I know that other people do, too. (We even have a section of the forums devoted to them.)

For example, here’s what one long-time reader wrote a few weeks ago:

I paid off a credit card today!  At times its balance had been as high as $12K, but with the severance pay from my old job, signing bonus from new job, and various other resources, I paid it off completely today.  

The next step is to move the existing balance on my other credit card (about $8K) onto the now-zeroed card at a low balance transfer rate, and then pay down that last balance. It feels really good to have this thing off my back after so long.

Do you have a financial success story to share? Big or small, it doesn’t matter. Tell us about it! You have all weekend to do so. Have a safe and happy fourth, everybody…

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Related Articles at Get Rich Slowly:

• My Paycheck is Late Again
• Win a Free Consultation with a Financial Planner
• GRS Reader Success Stories
• Daily Roundup: Contest Edition
• When the Going Gets Tough, Get Back to the Basics

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.

PRESS RELEASE:

Pittsburgh, March 2007 — Russ Thornton has been awarded the Accredited Investment Fiduciary® designation from the Center for Fiduciary Studies. The AIF designation signifies training in fiduciary responsibility and follows a two day course and examination.

Thornton, a resident of Atlanta, GA is President of Thornton Wealth Management. He specializes in providing investment management solutions to individuals, trusts and corporate retirement plans.

The Center for Fiduciary Studies is the first full-time training and research facility for fiduciaries. The Center, associated with the Center for Executive Education, Joseph M. Katz Graduate School of Business, University of Pittsburgh, teaches fiduciary standards of care and investment best practices designed for trustees, advisors, and other investment professionals. They also offer an Accredited Investment Fiduciary Analyst? designation signifying the ability to perform fiduciary assessments. Programs are offered throughout the year at the University of Pittsburgh?s Center for Executive Education, Stetson University?s Celebration Campus in Orlando, Florida, University of Washington in Seattle, Rice University in Houston, and the Wharton Business School of the University of Pennsylvania?s West Campus in San Francisco. Courses are also available internationally in Canada, Singapore, New Zealand, and Australia. For more information on future events, training programs and fiduciary products, visit www.fi360.com.

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