My pal David Hobby at Strobist, a great photography blog, occasionally gives assignments to his readers. For one recent project, David created a conceptual photo for me to use at Get Rich Slowly: a golden nest egg. I think this is awesome, and I’m grateful to David for having done this. I look forward to incorporating the nest egg into future GRS material.
Meanwhile, here are some personal finance stories that have attracted my attention recently:
The best personal finance article I read last week was The Honest Dollar’s explanation of price discrimination and why coupons exist. “Individuals can put different values on the same good,” writes Lily. I may be willing to pay $3 for a carton of orange juice that you’d only buy for $2. With coupons, we each get our price. This is an excellent article.
Elsewhere, No Credit Needed notes that it’s important to ask your creditors five questions when you make debt reduction payments. It’s vital to understand each company’s terms and conditions. I once sent an extra $1,000 to pay off part of a home equity loan, only to have the bank apply most of it to interest instead of principal. It felt like I was throwing my money away. (For more on this subject, check out the GRS forums.)
Finally, I liked Steve Pavlina’s recent piece on how to beat the competition, which is an excellent primer in the basics of success. How do you stand out in your field? You tackle the hard stuff. You do the things that others don’t, won’t, or can’t. If you do this — and do it well — then you will succeed.
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This article is about Spare Change