Jun 16th, 2009
Please note all posts have moved to my new blog: Science and Money. Please check it out for the latest ideas.

Carnival time

1425942468_868186c527My post on the Monte Carlo estimator for retirement planning was included in this week’s Carnival of Personal Finance.  LAL is the host this week at LivingAlmostLarge and she did a great job compiling the list and included a line or two about every article.  Kudos to you, LAL, for going the extra mile.  Some of your comments are pretty on target, too.  I especially liked the comparison of credit to booze.  It’s true that some folks can’t help themselves and would be better off abstaining.

The carnival had a number of other intersting articles including:

  • AskMrCreditCards’ article discussing Can Credit Card Companies Go After You If You Leave The Country?, including the legal, moral, and practical implications of leaving without paying.
  • Rohit from eMoneyLog wrote a two part Complete guide to emergency funds, which in general is quite good.  I disagree, however with his statement that certificates of deposit aren’t a good place for Emergency Funds.  I think a CD is a great place to stash the cash, because it’s just hard enough to get money out that you won’t be tempted to spend it on that shiny new set of golf clubs you’ve been wanting.  And Ally bank offers a no-penalty CD with a pretty good rate.
  • Mr. GoTo from GoToRetirement wrote on how to Create a Free Financial Plan, listing two online programs and two stand-alone software programs — all free.  I’ll be checking them out, and I’ll be reading more of his well-written blog, too.

Photo credit:  Robert C at Flickr.

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2 Responses to “Carnival time”

  1. # RD @ eMoneyLogon 16 Jun 2009 at 8:51 pm

    Hi Helen,

    The reason I suggest not to put your emergency fund money in CDs is two fold.

    1. There is penalty for breaking a CD
    2. During a crisis you want your money to be easily accessible.

    There are definitely advantages to have CD in terms of interest rate but to get good rate you have to put your money in long term CDs. What one could do is they could allocate some money to CDs and keep some in Checking/Savings account so that they do not always have to break their CD in case of an emergency.

  2. # helen_maynardon 16 Jun 2009 at 9:00 pm

    Hi RD,

    My point is that Ally offers a CD that doesn’t have a penalty for early withdrawal. http://www.ally.com check it out.

    Thanks,

    Helen.

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