You know, sometimes I’m an idiot. When I scheduled this year’s Get Rich Slowly video contest, I basically just copied all of the parameters from last year. That makes sense, right? No reason to re-invent the wheel if I don’t have to.
There’s just one problem: While the April 15th contest deadline is cute and symbolic (it’s this site’s blogiversary date), ending a contest like this on a weekday is kind of goofy. I’m not going to get to judging the entries until next week, anyhow, so why not give people the rest of the weekend to work on their videos? I’ve decided to do just that.
The deadline for entering the Get Rich Slowly video contest has been extended by 48 hours. If you’d like to participate — and I hope you will — you have until Sunday night to submit your entry.
If the government can extend the deadline to file taxes, surely I can extend the deadline for a video contest. And in the future, I’ll try to be less clever with stuff like this and more practical instead.
Just for kicks, here’s a success story from Jeff Rose of Good Financial Cents:
You can watch all of the entries (and some of them twice because of some technical glitches) to get ideas for a video of your own. Inspired? Join us!
Before I get to today’s links, here’s a quick question: How do you feel about the threaded comments? We’ve had them for about a week now, so most of you have had a chance to get used to them. I like them, but I miss the comment numbers. (I think the technical elves are working to get those back.) If I had to choose, I’d keep the threaded comments, though — you folks seem to be interacting more, which was my goal with this change.
Now, let’s take a look at a few personal-finance stories from around the web:
First up, the redoubtable Tyler K. sent me a great post from one of my internet idols, Philip Greenspun. Philg has come up with a novel solution to understanding Congress’s solution to the federal deficit problem. He’s just divided the numbers by 100 million. The results?
We have a family that is spending $38,200 per year. The family’s income is $21,700 per year. The family adds $16,500 in credit card debt every year in order to pay its bills. After a long and difficult debate among family members, keeping in mind that it was not going to be possible to borrow $16,500 every year forever, the parents and children agreed that a $380/year premium cable subscription could be terminated. So now the family will have to borrow only $16,120 per year.
Hilarious — yet also sad at the same time. (And before the partisan bickering starts in the comments, remember I dislike both sides equally. They’ve both been spending like there’s no tomorrow, so no amount of fiery rhetoric is going to give anyone the moral high ground here.)
Moving on to something less controversial (or is it?), there’s a recent report out that says young people don’t use financial advisers — they use Facebook to learn about money. Well, not just Facebook, but a variety of online social networks. And this isn’t just average folks, either — it’s investors with more than a half-million dollars of investible assets. Interesting. But then, what am I saying? We’re all here discussing money at a blog, right? So, we’re part of this group! You can read the full study online [PDF].
Finally, Dough Roller shared the inspirational story of how he paid off $237,428.13 in debt in less than five years. His secret weapon? Same as mine: “Find a way to earn extra money to help fuel your debt pay-down.” There’s a reason I harp on earning extra money, folks: It’s the best way to supercharge your financial engine.
GRS is committed to helping our readers save and achieve your financial goals.Savings interest rates may be low, but that’s all the more reason to shop for the best rate.Find the highest savings interest rate from Ally Bank, Capital One 360, Everbank, and more.
This article is about Spare Change
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Discover is a paid advertiser of this site. Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
SEARCH FOR RECENT ARTICLES



Threaded is good, but numbers on the main posts would be helpful. Then add letters, lower case roman numerals, etc. These can be added via CSS I believe.
http://codeasily.com/css/style-ordered-list
–
edit: the real nuisance is the cache system that shows you old versions of the thread instead of the freshest updates
–
Re: national budget- It’s the first time in history we’ve cut taxes during wartime, which is terminal imbecility, but every fool seems to think that letting the rich keep more of their money will “create jobs” here instead of China or India or Switzerland– as if!! And Medicare is not “the cable bill”. Oh yes, I went there.
Buffett blasts system that lets him pay less tax than secretary
The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”
Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation.
ps the “stick tongue out” smiley looks like he’s laughing. I typed a “:” and a “P” but I get a laughing face. why oh why.
loading....
“edit: the real nuisance is the cache system that shows you old versions of the thread instead of the freshest updates”
Yes, we discussed this on the post that first suggested threaded comments… any closer to solving this, JD?
loading....
The Buffett quote is interesting. Any ideas what laws or policies are causing his rate to be so low?
loading....
From this discussion in Freakonomics (unconfirmed by hard data), it seems that this is due to 2 reasons
1) Buffet’s earnings come mostly from capital gains which are taxed at 15%
2) 12/6% Social Security (actually now employees are only paying 4.2%) is capped after the first $100,000 income (meanwhile, we worry about Social Security going broke).
Now, if you want to look at how GE earned $5.1 billion in the US alone ($14+ globally) and paid $0 in taxes and got a $3.2 billion tax credit, that’s a lot more complicated:
http://www.nytimes.com/2011/03/25/business/economy/25tax.html
Please don’t ask me to explain that, which is beyond my comprehension.
loading....
Threaded OK. I hope more people get used to it so if their comment is related they can add to that person’s. I noticed on one of the posts this week that there were a lot of single entries of people that had similar answers to a question. It’d have been nice if they were nested!
loading....
I like the threaded comments.
loading....
I find the threads sooo much easier to follow.
If we can get the numbers back as well, that would be even more perfect!
loading....
I agree. It’s especially helpful when the author can respond directly rather than trying to put it all together yourself when there might be several posts between responses.
loading....
Agree – Threaded comments are way easier to follow but I too miss the numbered posts. Both would be ideal but if forced to choose I would take the threaded comments.
loading....
“You know, sometimes an idiot”
Haha, would the fact that that sentence is missing a subject be considered ironic?
loading....
I’m mortified here. Simply mortified. Still, pretty funny error.
loading....
Yes! Lol, I’m still smiling. I swear you did it on purpose.
loading....
Actually, the spending cut per the CBO wasn’t 38 billion, it was less than 1% of that. So the family wouldn’t be cutting the $380 cable bill, but a cup of coffee.
loading....
All the while refusing to ask for a raise at work for fear of inconveniencing the boss.
To quote from JD’s post:
–
His secret weapon? Same as mine: “Find a way to earn extra money to help fuel your debt pay-down.”
–
http://economix.blogs.nytimes.com/2010/04/13/taxing-the-rich-over-time/
loading....
Hey J.D. Roth,
I would LOVE to enter your contest, especially since I have an AMAZING video (did I forget to mention I’m humble?) on budgeting with the Envelope System using cash (geared towards College students, but applicable to all ages) inspired by Dave Ramsey.
Here’s the problem: I can’t give you guys full rights to do whatever you want with my video/name. That terrifies the crap out of me, quite honestly. Anyway we can work around that? If so, I’d be honored to enter my awesome content.
~ Brian Freedman
loading....
This is just your average disingenuous comparison of microeconomics to macroeconomics.
loading....
I love the threaded comments, but it would be really useful if I could see the comment I’m replying to while I’m composing. E.g. if I want to refer to something in the comment, I have to scroll up and down to go between my reply, and what I’m replying to.
Technical elves? Is this possible?
loading....
This guy wanted a BMW in college?
loading....
I love the threaded comments. The numbers always confused me especially because they’d change with spam or whatnot. Definitely encourages more back and forth and if you don’t care about a particular discussion, you just scroll past it where with numbers you’d keep bumping into it as you made your way through.
loading....
Like the threaded comments, but without numbers it is hard to go check back in where I left off.
Is there any way you could change the color of the replies from the last time we visited the site…another blog I read does this and I think it is awesome. Anything I’ve read (from a previous visit) is white, anything new is yellow.
loading....
Surprisingly, I like the nested comments. The only drawback is that if someone makes a nested comment on a thread as opposed to just a general comment it’s hard to discern if that comment is new. I miss the numbered comments terribly. Although, I only thing new comment should be numbered not the replies to existing comments. Thanks for a great blog JD….
loading....
I’m sorry, but the analogy of the national budget to a household budget is just wrong-headed, particularly in a recession. It’s entirely misleading and the man you linked to is if anything a charlatan.
loading....
How is it wrong? I’m not asking to be rude, I’m sincerely interested in your response. To me, it seems to take a huge complicated problem that most people can’t really wrap their heads around and put it in a context that the average person can understand. It might not be a perfect analogy, but I think it’s better than nothing.
loading....
I hope I’m not too late answering this, but here’s an explanation. Yes, it’s from a liberal think tank, but it’s not made-up history and the analysis holds:
Whenever a demagogue wants to whip up hysteria about federal budget deficits, he or she invariably begins with an analogy to a household’s budget: “No household can continually spend more than its income, and neither can the federal government”. On the surface that, might appear sensible; dig deeper and it makes no sense at all. A sovereign government bears no obvious resemblance to a household. Let us enumerate some relevant differences.
http://www.newdeal20.org/2010/02/10/the-federal-budget-is-not-like-a-household-budget-heres-why-8230/
loading....