Personal Finance Blogosphere Best of 2007

When I started Moolanomy last July, I didn’t expect this level of success. I could fool myself and say that it’s due to my amazing intellect and superior command of the English language — but that wouldn’t be true. Actually, I am quite glad that so many of you stick around to read what I wrote, share your thoughts, and answer my questions when I didn’t know the answer.

In the end, 2007 was a great year for Moolanomy because of readers like you and other supportive bloggers. As a way to say thanks, I’d like to share some of the best stuff written by my friends and colleagues from around the Blogosphere with you.

Instead of adding my usual commentary, I am quoting the original articles and let them “speak” for themselves.

Now presenting….the Personal Finance Blogosphere Best of 2007:

Insightful

A Penny Saved is Worth More Than a Penny Earned @ Cash Money Life

“Every elementary school student in the US is familiar with the famous quote attributed to Ben Franklin - “A penny saved is a penny earned.” This statement may have been true once upon a time, but in today’s world, a penny saved is worth more than a penny earned…”

Invest in yourself by learning things of value @ Mighty Bargain Hunter

“This goes for anything worthwhile, anything marketable, anything potentially profitable, anything of real value. The gratification and payoff is further down the road for things of value, so don’t be unduly or extensively tempted by challenges that just ultimately sap you of your precious time.”

Why Money Is Only One Third Of Happiness @ Freedom Ideas

“Money, in my opinion, makes one third of happiness and, unless you do what you are passionate about (what your purpose is) and receive appreciation from other people for what you do, money will not make you happy.”

My 401(k) Is Killing Me, I’ll Never Retire! @ Free From Broke

“I’m not going to do anything. A couple of funds had bad years. So what? My 401(k) is meant for my retirement and I still have decades for it to grow. I’m not going to panic over one year.”

Revealing

Follow the white rabbit to financial freedom @ Brip Blap

“In this false world, you are told that true happiness comes with the acquisition of things, that your attention should be focused on today, that tomorrow will take care of itself. In this Matrix, it’s always Black Friday and it’s always the Presidents’ Day Sale.”

Overcoming Impostor Syndrome for Financial Success @ Mrs. Micah

“I think putting a name to the feeling helps. It means I can say ‘Ok, what I am feeling is Impostor Syndrome. Now I can take steps to figure out why I’m feeling that way right now and how I can counteract those feelings.’”

Creative Ways to Spend $2700 (My Finance Charges for 2007) @ Me vs. Debt

“So there it is. I’ve paid over $2700 in finance charges this year. I get a little bit angry just looking at it. I’ve started to feel like every dollar finance charge is a personal insult. But today, instead of rant, I’m going to think positively. By 2009 I will have completely eliminated finance charges from my life.”

Why do poor people always win the lottery? @ My Investing Blog

“…instead of starting gambling at 18, if you want a nest egg, take that $1 per day and invest it instead, get 10% on your return per year, and retire like the long haul trucker at 64 with $262,000 you’ve built by NOT buying a lotto ticket”

Confessions of a Car Salesman @ Million Dollar Journey

“I’ve always wondered what it would be like to be car salesman. What goes through their minds as soon as a potential customer enters the lot? Do they see the new comer as fresh meat while anticipating the kill (sale). Do they profile the customer based on the car that they drive and clothes that they wear?”

The economics of Robinson Crusoe @ Early Retirement Extreme

“Basic economics courses often use the example of Robinson Crusoe stranded on a deserted tropical island. This is to show that even in the case of one person, economic principles still work. These principles are so fundamental that they ought to part of everybody’s basic knowledge.”

The day I won a bag of groceries @ Monroe on a budget

“To this day, I still remember when I was grateful to win a bag of groceries. Can there really be homes where one-fourth of the food ends up in a trash can?”

Informative

The Ultimate Guide to Traditional and Roth 401(k) and IRA Retirement Accounts @ The Dough Roller

“When it comes to retirement, the IRS has sent us help in the form of tax advantaged accounts like a 401(k) and an IRA. If we don’t take full advantage of these money making tools, we are turning away help when we need it the most.”

My Two Cents on “12 Investing Mistakes and How You Can Learn From Them” @ ChanceFavors

“Unfortunately, the way we learn in life is through experience, which often means the hard way. It doesn’t have to be that way when planning your future, or when it comes to investing. You can avoid some of these mistake if you can take your ego out of the equation.”

Four Basic Steps To Jump Start Your Financial Future @ Money Blue Book

“To give my newbie friend the spark he needed to start his way towards fiscal growth and responsibility, I provided the following basic tips: (1) Pay Off High Interest Credit Card Debt As Soon As Possible; (2) Open a High Interest Savings or Money Market Account; (3) Open a Roth Investment Retirement Account (Roth IRA); and (4) If You Are Financially Responsible, Stop Using Credit Cards That Offer You Nothing - Use Reward Credit Cards Instead”

Roth 401k: What Is It? @ My Dollar Plan

“The Roth 401k plans are relatively new and many people haven’t heard of them yet. Employers are slowly starting to offer them to employees. Let’s explore how the Roth 401k works, the benefits over the Roth IRA, and why it is taking time for employers to offer them!”

How to Navigate Customer Service Without Screaming @ Alpha Consumer

“I spoke with Andrea Ayers, business unit president of Convergys, one of the world’s largest providers of customer service, about how to get the most out of those often frustrating phone calls… She offered these seven tips…”

Prosper and Lending Club Advice for New Lenders @ Personal Loan Portfolio

“I received advice from the bloggers at Prosperous Land, Prosper Lending Review, Rate Ladder, Lazy Man and Money, and My Microfinance. So what advice did these bloggers have for newbie lenders?”

Inspiring

1 Year Ago Today - 10 things we’ve done to regain financial control @ Gather Little By Little

“It would seem the old saying “Every dark cloud has a silver lining“ is very true. On this anniversary, if that is the correct description, I thought I would share the 10 things we’ve done to regain control of my finances”

The Power of Yes: A Simple Way to Get More Out of Life @ Get Rich Slowly

“For much of my adult life I’ve been shackled by fear. I’ve been afraid to try new things, afraid to meet new people, afraid of doing anything that might lead to failure. This fear confined me to a narrow comfort zone. Recently, however, I made a single small change that has helped me to overcome my fear, and allowed me to get more out of life.”

You CAN Get Out of Debt! @ DebtFREE-Revolution

“Why make it easy for these money parasites to suck the cash right out of your bank account balance? Get mad! Get determined! Say out loud: “I WILL get out of debt!” Make a decision, make a plan (budget), then make it work for you!”

Your First Million Dollars @ Millionaire Money Habits

“For most of us, becoming wealthy is not something that happens to us when we wake up one morning. In fact, a very small percentage of rich people in America got that way from inheritance or some other stroke of luck. According to Stanley’s, The Millionaire Next Door, some 80% of wealthy Americans are self-made millionaires that accumulated wealth one dollar at a time.”

Follow Me @ The LocoMono

“Do not follow where the path may lead. Go instead where there is no path and leave a trail. — Ralph Waldo Emerson“

Making The Financial Sacrifice To Get What You Want @ My Two Dollars

“Sure, we do not go out as often and we do not shop that much anymore for clothes or electronics, but when I walk out my door and see the ocean, it makes the sacrifice, both in finances and lifestyle, all worthwhile. Sacrifice is important to get what you want from life.”

How to Be the CFO of Your Own Life @ Consumerism Commentary

“Rather than just letting things happen to me, I was making decisions about my money management. I was investing in a 401(k) with company match. I opened a high-yield savings account at ING Direct… And I was making other good decisions. At this point, I became the Chief Financial Officer of my life.”

Instructive

Five Golden Rules For Snowflaking @ I’ve Paid For This Twice Already…

“What is a snowflake, you may ask? I’m not talking about the fluffy white stuff outside right now for many of us (although I think they’re rather pretty), I’m talking about small amounts of money saved or earned that are applied directly to debt or into savings before they melt away into who knows where.”

How to Get Better Credit by Killing Your Spouse’s Credit @ Credit Withdrawal

“By using this plan with care, and using the debt snowball at the end, you can save a considerable amount in interest, get out of debt faster and take control of your finance back from the credit card companies.”

Eliminate debt: where do I start? @ My Journey to Eliminate Debt

“One of the things that I think is most important for any debt reduction plan is setting priorities. And to do that successfully we need to be really honest about what our priorities are. Not fool ourselves by doing what everybody else is doing.”

New year’s resolution may be too late @ On Financial Success

“Is it too late to begin saving? No — like all positive changes, the sooner made, the better off you’ll be. Begin saving today (or paying down debt) because even a modest nest egg will have a profound impact in your golden years. “

Ten Tips To Prepare for Getting Married @ Watch My Money Maker

“Their love was genuine, their relationship was solid, yet their finances had them on edge. Here are ten things that a young couple can do to help prepare for marriage. Some of these are geared towards young in age, and some will be applicable to all couples preparing for marriage.”

Provocative

Does Your Pastor Check Your Giving Record? @ Rocket Finance

“I think that it makes sense that those who are in leadership of a particular organization also be those who are also financially supportive, but the thought of a pastor checking giving records is unsettling to our usual way of doing things.”

Rent, Grow Rich, Be Free @ Millionaire Mommy Next Door

“That day was a turning point in my financial life. We discussed our options, sold our home and became renters. I took our home equity and invested in a well-diversified equity portfolio.”

Rent Forever, Don’t Buy A Home @ Blueprint for Financial Prosperity

“This post will tackle one of the cornerstones of well-accepted advice: rent as little as possible and buy a home as soon as you can, renting is just like throwing your money away. I think that, like all one-size fits all advice, is completely wrong and here’s why.”

The fear of looking poor @ Blunt Money

“There are so many opportunities to feel judged: How much we contribute to cards passed around the office or money collected for charity, what we order or don’t order in restaurants…So I wonder, what does the fear of looking poor (or worse, cheap) cost us? Both emotionally and monetarily?”

Philosophical

Things I’ve Learned About Money by Not Having a Lot of It @ Being Frugal

“…money isn’t the most important thing in life. Relationships are the most important thing in life. My relationship with God, my relationship with my family, my relationship with my friends, and how I treat other people…that’s important.”

Absolutes @ Four Pillars

“Obviously if you accept that you never have complete knowledge on any subject (and you don’t. Accept this) you have three choices: 1) Become paralyzed and do nothing, 2) Do the best you can with the level of understanding you have and 3) Try to learn more.”

Frugality as a Retirement Plan @ Money Myths

“I want to retire at some point. I’ve been planning for it since before I started working. I started an IRA when I was in college and worked as a bank teller. I fund my 401(K) to get the maximum match. But lately I’ve been wondering if that’s enough.”

Your Desire Creates the Power to Succeed @ Fixer Uppers and Rental Houses

“Don’t let frustrations at work cause you to be depressed. Instead, use it to fuel the fires. Let it help you start the process of becoming independent, to move into a more satisfying life.”

I hope you enjoyed these as much as I did. They were written by great authors and I can recommend each one of them. Last but not least, I wish all of you a very successful 2008.