Personal Finance Web-O-Sphere Roundup

by JS 

We haven’t done a tour of the best posts in the personal finance world for a while so let’s fire up the tour bus (retrofitted for eco-friendliness of course) and head out onto the web.  This tour is inspired by the following quote:

Bill Gates makes over $30 million each night while he sleeps. 

Which was found on this week’s Carnival of Personal Finance at Stock Trading to Go.

Stop #1: How talking about money is like French kissing

Yes, making money starts with your attitude, and if you want to make more, you’ll need to change your attitude about money.

Tell people you’ve a dream to own a Ferrari dealership in every city and you’re the next Richard Branson. Tell them you want to be able to buy a Ferrari out of your pocket change, and you’re an evil, money-grabbing maniac…

Stop #2: Key psychological factors in stock market success

Continuing with the theme of mind over money, this article outlines common psychological concepts that come into play when trading stocks.

Many investors make the same mistakes over and over again. Mistakes such as: selling profitable stocks too soon, holding on to losing stocks forever or lacking the discipline to stay in the market and avoid frequent buying and selling are all a result of poor understanding of key psychological factors required to succeed in the stock market.

Stop #3: Albert Einstein knew a thing or two about investing…

This post outlines the concepts that allow Bill Gates to make fortune while sleeping each night. Take the quiz at the beginning of the story and find out if your instincts are financially well tuned.

…when Albert Einstein was asked (during the height of the interest generated by his work in physics and the Special and General Theories of Relativity) if the concept of relativity was the most important concept man will ever discover: he answered, “The most powerful concept in the universe is compound interest.”

Stop #4: The World’s Worst Credit Card

My favorite Suzy Orman quote goes something like this, “nobody cares about you.” She was referring to getting help with your financing and believing sales pitches from financial advisors and companies trying to sell you something. Nothing exemplifies her advice better than the following credit card offer.

…the worst credit card in the world. It is designed to prey on subprime borrowers who, sadly, cannot get a better card…

Meet the Continental Finance MasterCard. After all the fees have been collected, it has a credit limit of $53.

Stop #5:  How to Make a Shirt out of a One Dollar Bill

This is the last and funest (sic) stop on our tour where we learn how to fold a dollar bill into a perfect, albeit a little bit small, dress shirt.

In this step-by-step walk through, you will learn how to make a very detailed collared shirt out of a one dollar bill. It makes for a unique origami project and creative way to leave a tip!

Have a great week and thanks for taking the tour!

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