My April was manic. I was very busy, both with the blog and in Real Life. I swore to improve things in May, but it never happened. But this time I mean it! I’m going to do less in June. I want to focus on three things: yardwork around the house, marathon training, and writing great content for Get Rich Slowly. The other stuff will have to take a backseat for once.
Here are some of my favorite recent personal-finance stories from around the web:
I’ve been out of touch with the news lately, so I’m behind the curve on the recent credit-card bill passed by the U.S. Senate. The Christian Science Monitor offers a quick rundown of what the credit-card bill does and doesn’t do. Some of this stuff is fantastic. Other restrictions seem arbitrary. I’m curious to see how this legislation will affect the industry — and responsible card-holders.
Elsewhere, JLP at All Financial Matters continues to produce fun spreadsheets for math geeks like me. In his latest, he looks at how quickly mortgage rates can change, affecting your payments. He writes: “On Tuesday, the rate on a 30-year fixed mortgage stood at about 5.03%. That same mortgage had a rate of 5.44% on Thursday. To get an idea of what this means dollar-wise, I ran some numbers…On a $200,000 mortgage, a person would have to pay $50.75 more per month if they took out their mortgage on Thursday instead of Tuesday.” He’s posted details on his site.
The Houston Chronicle is allowing its members to create content for its site. One of these members is Amanda Grossman, who writes a column called Frugal Confessions. Amanda recently shared an interesting article about Amish finances and how they differ from those of the average American. “At the core of their lives and finances is the idea that one must live a humble life.” Great stuff.
Finally, Patrick at Cash Money Life has scoured the web to create a nice list of essential money tips for new parents. There’s a wealth of information here for prospective parents.
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The Christian Science Monitor? There wasn’t a better source than that for information on the bill?
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I like these Round-Up’s JD. Definitely found the Amish article interesting!
Cheers,
Glen
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The Amish finances article was very interesting. I love how honesty and hard work are at the forefront of their economic structure.
Thanks for the mention.
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The article on Amish finances left out a major source of income for the Amish: puppy mills. Take breeder dogs, set them to live in unthinkable conditions, never seeing the outside of an unsanitary cage and only having human interaction when being selected to force to breed, keep them churning out puppies for every heat cycle of their lives, then when they’re no longer “useful,” kill them. Sell all the puppies to “English” (non-Amish) dealers, where they’re sold in pet stores across the country. Make a huge profit.
Sorry, I just don’t think that’s a financial example others should want to emulate.
Also, I second questioning the Christian Science Monitor rundown of the credit card bill. Surely there was a better source.
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Great links! Thanks.
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I also grew up in Central PA. It is an area where entire communities were frugal and people that spent excessively were not highly looked upon. Debt was only allowed for a major purchase such as a house. It is amazing how much that impacts my spending habits today.
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I have to agree with RB. There are several Amish puppy mills here in Oklahoma that are absolutely deplorable. I grew up amongst the Amish in a rural part of the state and they have not left a favorable impression upon me. A lot of our friends love to particpate in dinners at Amish farms. These “city folk” seem rather put off by my attempts to inform them of the truth about the charming Amish.
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I am the author of the Amish Finances article (I happen to read GetRichSlowly everyday, and saw my article posted!).
I would like to address the puppy mill comments. While yes, puppy mills do exist, not all Amish condone them. There are always a few sour grapes in the bunch; I hope you take that into consideration before labeling an entire community of people as bad.
Thank you everyone for reading and commenting on my piece.
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The Amish Finances post was a good one– thanks for sharing.
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OK, I’ll bite. What is wrong with the Christian Science Monitor article?
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@icup
I’m wondering that, too. That was the last comment I read before going to bed last night, and I thought about it as I was falling asleep. I’m not sure what Jim meant by “better source”. I was always taught that CSM was a legit news source. Am I mistaken?
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Hubby and I just returned from Lancaster County, PA a few weeks ago for our 2 year wedding anniversary. It was great to learn about the Amish, and we found ourselves wanting to be more like them.
Not only monetarily, but their lifestyle.
Their lifestyle is based solely around family and church, and I can appreciate that.
The Amish DO use modern conveniences such as propane for light, and gas motors for their generators. They also use solar panels and have skylights to help brighten their homes.
They arent as far off as we think they are. There are so many mis-conceptions.
My favorite thing was taking a scooter ride through Amish Country on scooters we rented for the day. As we zipped on past the Amish children and Amish buggies, everyone waved and nodded. It felt as though we were compltely welcome into their community even though we were “English.”
~M
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I am not religious, but the Christian Science Monitor is one of the few remaining sources of legitimate journalism. Sometimes, there is a religious slant, but the reporting is often on par with the New York Times and other such news sources.
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Hello, I am also a personal finance blogger and a follower of personal finance expert Robert Kiyosaki. I hope you can also cite an article from my blog to your readers. I would love to share my articles with your growing number of readers. Cheers to being the number one personal finance blog.
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