Welcome to the 145th Carnival of Personal Finance:  The Baby Education Edition.  With the new baby, I've been thinking a lot about how to properly raise a child and how to teach them about personal finance and business.  So what's better than a baby theme that will take us on the road of financial education.  All topics are separated and editors picks for each topic are indicated by a star (*).


Investing is an area where I'd like to start early with the child as we all know about compound growth and the power of exponential growth over time.  The one thing that a child has on their side is time. 

  • * Kyle from Amateur Asset Allocator argues that Mutual Fund Companies Often Make Better Investments Than The Funds They Manage, and says, "Almost without fail, the stocks of mutual fund companies over the past decade have handily out-performed the equity mutual funds they manage."  For you Canadian investors, that would be a stock like IGM.
  • * Preet Banerjee from WhereDoesAllMyMoneyGo.com presents Jim Cramer Controversy.  If you've ever watched the energetic Jim Cramer on TV, you'll know that he has a high opinion on his stocks.  Check out Preets post on how Jim Cramer really screwed a listener when asked about whether to sell "Bear Stearns" before it crashed.
  • * Madison from My Dollar Plan presents How to Start an Investment Club.  Around here there are very few investment clubs if any.  I've always thought about starting one and wondered about the details involved.
  • Dividends4Life from Dividends4Life thinks that Dividends Are Gold in a Down Market, and says, "In a down-market when many people are rushing to buy gold, I already have mine. No, not that kind, but something much better!"
  • Mr. Cheap from Quest For Four Pillars explains the Fallacy of Return On Investment, and says, "Return on equity is a more accurate measure than return on investment."
  • Veteran Military Wife from Life Lessons of a Military Wife talks about Money for the Long Haul, and says, "Follow these seven tips and remember you are in it for the long haul!"
  • Art Dinkin from Moment on Money asks If it will fix itself, is it really broken?, and says, "Commentary on market volatility and perspective."
  • Kacper from KacperWrzesniewski.com presents Technical Analysis: Three most important rules you must know..
  • Freedom 45 from Freedom 45 presents A Primer on Options – Part 2, and says, "The second part in a multi part series on options and how to use them in an everyday portfolio."

Photo credit: thelastminute


This is a topic for both me and the child.  For me, I would like to retire a little earlier so that I can spend a little more time with my children along with pursuing some of my other dreams.  For the child, it's a great topic to get in to their minds as it puts perspective on their finances.  All three articles below are great. 

  • Tim from Canadian Dream: Free at 45 presents An Engineer’s View of Retirement, and says, "Problem solving with an engineer's brain."

Money Management

In my opinion, the whole concept of money should be introduced to a child at a very young age.  The younger they learn, the easier it is to excel in the subject as they get older. 

  • * FMF from Free Money Finance presents How to Keep Your Child's Identity Safe, and says, "Identity theft among kids is a growing issue that needs to be addressed."  This is a topic that I've never covered, but concerns me.  How vulnerable is a child's identity?
  • Steph from The Debt Hole writes about Spending Control, and explains, "My reflections on the two simple ways I keep my spending under control."
  • Beyond Paycheck to Paycheck from Beyond Paycheck to Paycheck explains that Your problem isn't Starbucks, and says, "Many financial experts feel that the problems of the world (and especially of young people) would instantly disappear if we could only get rid of our coffee shops. They're wrong. . . but you're still in control."
  • billspaced from Money Hacks asks Learning to Earn, Part 1 of … Many?, and says, "This is an article that lists and describes many, though certainly not all, ways to earn more money, which is one half of the First Commandment of Personal Finance, Earn more than you spend."
  • Aryn from Sound Money Matters analyzes Lease vs. Buy a Car – Running the Numbers, and says, "I compared the cost of buying vs. leasing a car over a ten year period. I'm sure every frugal person knows which won!"
  • Foxie from Dreaming of Ferraris explains Love & Money: How I Make It Work, and says, "I've seen this carnival in quite a few places and this is my first time ever submitting to it. I'm hoping that my work is up to par, or at least close, with the many other great bloggers who participate in this carnival. :)"
  • Steward from My Family's Money thinks that Emergency Funds Are the Coolest, and says, "An article about why we have an emergency fund and how we decided on the amount of the fund."
  • Jon from The Money Mythos talks about Splitting Costs in a Marriage.


This is a big topic that I want my children to learn and live by.  Frugal living, to me, is probably the easiest way to build wealth.  Hopefully my children can learn by example as I did from my parents.  

  • * Squawkfox from Squawkfox presents Just say 'NO' to crap!, and says, "The sources of crap are vast and deep. But the most insidious forms of crap are financial crap, food crap, and consumer crap. I want readers to get high on life, not crap. Here are five reasons to kick the buying crap habit!."  A very creative article explaining how to increase your wealth by simply reducing your "crap" that we all buy.
  • billspaced from Money Hacks continues Two for Tuesdays #10, and says, "This is a regular theme where I tell you how to immediately save lots of money."

  • Steve from Sushi Money asks Have Gas Prices Changed Your Driving Habits?, and says, "With gas prices higher than ever, we've changed our driving behavior to spend less money at the pump. Besides driving less, there are a few things we can do to improve mileage. How have gas prices affected you?"
  • Chief Family Officer from Chief Family Officer shows us Creative strategies for coping with rising costs – Part Two: The Drugstore Game.
  • Brooke from Dollar Frugal gives us hints on Gifts For/From a Frugal Person.
  • Elliott Russell from ElliottRussell.ca presents Challenge: Drink Only What is Free, and says, "This is a one month challenge for me and my readers. It aims to save money and promote better habits.

Photo credit:  timparkinson


  • *Mr Credit Card from Ask Mr Credit Card lists My 7 Step Plan For A Hassle Free Tax Season Next Year.  Every year while preparing for my taxes, I alway think about ways to make it easier for next year.  Mr. Credit Card has some excellent tips to help you prepare for the tax season.
  • *Lily from The Honest Dollar explains 11 Ways to Trigger an IRS Audit.  Think you might be audited this year?  Lily has a great summary of some IRS red flags that you should watch out for.


An important concept to cover with children as they grow older is credit.  Learning the basics and benefits of paying off the credit card balance in full every month will flow into adult life.  I personally use a credit card for most of my expenses to take advantage of the point rewards, but never keep a balance.

  • * paidtwice from I've Paid For This Twice Already… asks How Small a Transaction Before Plastic Seems Absurd?.  I'm a big fan of running ALL possible expenditures through a credit card for the points (no, I don't keep a balance).  There can be some issues with this though with small purchases.  Paidtwice goes through the scenario of when using a credit card is absurd.
  • NtJS from Not the Jet Set presents I'm Thinking of Getting a Credit Card, and says, "I'm a debt-free, credit card company hating, Dave Ramsey fan. I have never had a credit card in my entire life and have no desire to have one. So why would I of all people now be considering getting one?"
  • JS from Smart Money Daily presents 6 Steps For Checking & Fixing a Credit Report, and says, "When I was turned down for a routine personal loan, which I should have easily qualified for, I discovered by accident that I had a low credit score. This story is about the steps that I took to correct the problem and some other general guidelines for monitoring and spotting any potential credit zapping mistakes or errors in your credit report."

Photo credit: eliazar


  • Finance Girl from Finance Gets Personal thinks that Debt as a Symptom of Sexual Addiction, and says, "This post talks about debt being a symptom of a problem in your life, and the specific problem of sexual addiction."

Real Estate

Investing in real estate can teach many financial lessons.  Value investing, leveraging, cash flow management, people management and tax minimization are among the list.  I hope to get my children involved with real estate while they are fairly young.

  • * BeThisWay from Are You Going To Be This Way the Rest of the Time I Know You? presents Twenty Things to Do Before We Buy a House.  Interested in buying a house?  This article will help you prepare for the big event!
  • * Peter from Plan Your Escape asks Is Your Mortgage Interest Tax-Deductible?, and says, "An illustrated look at how an asset swap can be an effective way to make all or part of your mortgage interest tax-deductible."  A helpful and descriptive article to aid those who are interested in the Smith Manoeuvre.
  • Matthew from Twin Commas questions Ready to Buy a Home? Use Competition to your Advantage.

Photo Credit: VisitMyLuxuryHome

Financial Stories 

  • * brip blap from brip blap tells us about poor kid blues, and says, "The heartbreaking story of a child raised from the depths of poverty to the heights of success – not really, but growing up with a little bit less didn't exactly stunt my financial growth."
  • Aaron Stroud from On Financial Success describes in great detail that One year ago, I drove through a falling tree, and says, "One year ago, I drove my Honda Civic through a falling tree. We walked away unscratched (the car even ran), but the insurance company totaled our car. Three money lessons and pictures included!"
  • J.C. from J.C.'s Money Blog reviews Book Review of Rich Dad Poor Dad, and says, "My long winded review of the polarizing book Rich Dad Poor Dad by Kiyosaki."

Photo credit: Tub Gurnard


  • MoneyShaker from Adventures In Money Making questions Is The US Economy Going South?, and says, "While economists are still arguing over whether we're in a recession or not, American families are finding out for the themselves."

Photo credit: Duchamp


In terms of budgeting, what has worked best for me is "The Wealthy Barber" method of separating our needs and wants.  Guess what book will be introduced to my kids when they are old enough to read?

  • * Mr. Debtbeater from Debtbeater explains How to Create an Envelope Budgeting System, and says, "We've been doing this successfully awhile now, so I decided to share a step-by-step tutorial on how to start an envelope-based budget system with pictures, tips, and examples."
  • * Seb from Pinching Copper shows us that Minimum, wage doesn't work, and says, "Just how far do you have to stretch a dollar to live off of minimum wage in today’s economy? I crunched some numbers to see just difficult it is to get by when you’re forced to live off a low income."
  • Penelope from Our Fourpence Worth presents The No-Budget System, and says, "This article suggests that depending on types of individuals, not having a budget may actually result in greater savings than having one. How often has the thought, “I have $___ left. What can I buy with it?” come into your head when given an allowance to spend on something? "

Photo credit: Jeff Keen

I hope you enjoyed this edition of the Carnival of Personal Finance!  Thanks for reading and sharing your articles. 

If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).


  1. Mr. Debtbeater on March 24, 2008 at 11:00 am

    Congrats on the baby! Thanks for hosting & including my post, too. :)

  2. Funny about Money on March 24, 2008 at 11:03 am

    Thanks for including Funny’s squib on the glories of the credit card. Awesome round-up! I’m looking forward to exploring these sites.

  3. FFB on March 24, 2008 at 11:09 am

    Great work and thanks for the inclusion! Congrats on the baby!

  4. Hannah on March 24, 2008 at 11:19 am

    Weird, I could have sworn I posted a comment about 10 minutes ago!

    Thanks for hosting this week’s carnival and for including my post FT! Nice choice of a theme and good luck with the new baby… I haven’t read many of the articles yet but the ones I have are really great!

  5. FourPillars on March 24, 2008 at 11:23 am

    Good job on the carny!


  6. Pinyo on March 24, 2008 at 11:39 am

    Great job with the carnival and thank you for hosting.

  7. Dividendgrowth on March 24, 2008 at 11:42 am


    Great job on hosting the carnival!
    Thank you very much for including my dividend analysis of SHW.

  8. Flexo on March 24, 2008 at 11:56 am

    Thanks very much for hosting the Carnival this week!

  9. Steve on March 24, 2008 at 12:00 pm

    Thank you for the wonderful carnival! Great organization and layout- thanks for hosting and including Sushi Money. And congratulations on the new baby! :)

  10. Kyle on March 24, 2008 at 12:10 pm

    Thanks for including my post! Great job. I love your layout. I wish mine was half as streamlined.

  11. No Debt Plan on March 24, 2008 at 12:16 pm

    A carnival and a new baby… a big undertaking. Thanks for the inclusion.

  12. Dan at Everydayfinance on March 24, 2008 at 12:29 pm

    Hey, thanks for including my post; great job.
    Dan at edf.

  13. PT on March 24, 2008 at 12:33 pm

    Great work. Thanks for including me.

  14. Peter @ Plan Your Escape on March 24, 2008 at 12:41 pm

    Great work hosting the carnival this week FrugalTrader! Thanks for including my article as an editor’s pick as well.

    Good luck with the baby … they grow up quickly so enjoy it!


  15. Brainy on March 24, 2008 at 12:46 pm

    Thanks a bunch for including my debt posting! :0)

  16. squawkfox on March 24, 2008 at 1:30 pm

    OHH CRAP! You posted my article on “Crap!” Thank you FrugalTrader sooo muchly for choosing “Crap!” as an editor’s pick. Thank you for hosting as well!

  17. 45free on March 24, 2008 at 2:09 pm

    Hey FT…thanks for posting the piece on options. Part 3 of I do not know how many should be up in the next day or two so check back if you are interested.

  18. Dividends4Life on March 24, 2008 at 2:39 pm

    Thanks for hosting this weeks carnival and including my article “Dividends Are Gold in a Down Market”.

    Best Wishes,

  19. SingleGuyMoney on March 24, 2008 at 3:50 pm

    Thanks for hosting and including my article on purchasing a used car.

  20. WhereDoesAllMyMoneyGo.com on March 24, 2008 at 3:55 pm

    Thanks for the link FT! I’m going to be in Newfoundland in May seeing Jeremy Siegel FYI (among other things)… :) Anything I need to make sure I see/do?

  21. FrugalTrader on March 24, 2008 at 4:50 pm

    Preet, 2 words, George Street. :)

  22. Penelope @ Our Fourpence Worth on March 24, 2008 at 6:43 pm

    Hi FT,

    Great job on the carnival and thank you for including my post (The No-Budget System). And congrats on your new baby!


  23. Finance Girl on March 24, 2008 at 7:29 pm

    Thanks for including my post on debt and sexual addiction. Although I’m guessing you won’t be talking to your baby about that.

  24. Ron@TheWisdomJournal on March 24, 2008 at 9:14 pm

    Hey congratulations on the baby and thanks for including my post on credit cards!

  25. The Financial Blogger on March 24, 2008 at 10:33 pm

    Keep the cup of coffee close and you should be fine in a few months ;-)

    thx for hosting!

  26. RC@ThinkYourWayToWealth on March 25, 2008 at 12:03 am


    Congrats on the new baby ! Thanks for including my post as an editor’s pick.


  27. Elliott Russell on March 25, 2008 at 2:58 am

    Thanks so much for hosting this and including me! :)

    Elliott Russell

  28. Harrington Brooks on March 25, 2008 at 4:58 am

    Great list, hope to make it on there in the future. I especially like the article from 5 cent nickel.

  29. GBlogger (Can I Get Rich On A Salary) on March 25, 2008 at 7:27 am

    Thanks for the inclusion and for doing all the great work in hosting. Hope you are getting at least a little sleep with the new baby!

  30. Brip Blap on March 26, 2008 at 12:29 am

    Thanks for including me as an editor’s pick! Good job with the carnival!

  31. squawkfox on March 26, 2008 at 4:43 am

    Well organized carnival! Thanks again for the ed pick! I linked back via Carnivals.

  32. Chief Family Officer on March 26, 2008 at 4:09 pm

    Thanks so much for hosting the carnival and including my article!

  33. BeThisWay on March 26, 2008 at 5:50 pm

    Hey! An Editor’s Pick! I’m so honored. :)

    Thanks for hosting and for including my article. And enjoy your new babe. :)

  34. Money Merge Account on March 26, 2008 at 8:58 pm

    all those benjamins make me wanna go and take a visit to Vegas! :D

  35. Todd from Wealthblocks.com on March 30, 2008 at 12:03 am

    we have a strategy with our eight year old daughter. she gets an allowance of $8 per week for doing her chores. we have a box that we allow her to decorate with anything she wants and it has a slit in it for money. we use it for her long term goals ( a DS game….an iPod dock). on the day i pay her – she can put in up to $4 and i will match it dollar for dollar. in effect, she can $12 per week if she chooses. some weeks she does $4, some weeks she does $0, but it’s a superb way to teach her that waiting and saving can be beneficial and bring you bigger and better things. it gives her a great sense of accomplishment to save for something that costs $100 or more. also – we use the $1 per week per year approach to set her allowance.

  36. billspaced on March 30, 2008 at 1:46 am

    Thanks for including my post in your carnival!!! Great set of articles.

  37. My Dollar Plan on April 6, 2008 at 4:33 pm

    Thanks for including me as one of your Editor’s Picks! I love the baby theme.

  38. motorcykel lån on April 23, 2010 at 5:44 am

    Thank you for the wonderful carnival! Great organization and layout.
    Congratulations on the new baby! :)

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