Carnival of Personal Finance #192: The Family Day Edition

For those of us in Ontario, it is Family Day and this year, it seems everyone is “celebrating” it (meaning all banks and stores are closed), so let us also celebrate with a Carnival of Personal Finance.

As this is my first time hosting the Carnival of Personal Finance I figured Family Day would be a good thematic premise to build our list of submissions for the week from.

Each section will be advice that might typically come from a member of your family (with a rating on the value of the advice as well (at least from my point of view)).

Fatherly Advice

We are all well-acquainted with the sort of advice that goes like this, “Back in my day, we survived on $10 a week and we still managed to enjoy life…” and other wise sayings like “A penny saved is a penny earned…” that our fathers would drill into us. This stoic advice was meant to keep us firmly on the path of sound personal finance.

• MoneyNing from Personal Finance Blog wrote Stop Thinking About True Value and Just Buy What You Need, and says, “Are you thinking about value every time you buy something? Stop because you are losing money!”, very Fatherly advice, “Spend wisely!”
• Michael James on Money is actually giving out Fatherly advice in Teenager Jobs that Pay Well, and asks are there other good paying jobs as well?

Motherly Advice

“This is the kind of advice that appeals to your emotions rather than being based on facts. For instance, someone might suggest that you lend $300 to your unreliable cousin, claiming that they will definitely pay you back. Such statements may seem interesting, but it’s important to consider the facts before making any decisions.”

• Free Money Finance advises What to do When You Have a Job Offer but Are Waiting for Another One, as your Mother might say, “Make sure no one gets mad at you for something you forgot to say”
• Jason from MyMoneyMinute says What We Learn From Tragedy, live every moment like it’s your last I heard many Mothers say.
• Megan from Counting My Pennies muses Knowing What’s Important, even your pet is important (I can hear my Mother saying that).
• Ben from Money Smart Life queries Valentines Day Flowers a Rip Off, it’s not the gift dear, it’s the thought that counts.

Brotherly Advice

This is advice that may be a little weird and not exactly the best advice, but always with an interesting angle to make you at least wonder if it is good advice or not:

Matt from StupidCents presents Attention College Students – How to Make Money While at School, an interesting idea, but what if you still need your old books?

Always the Planner asks Cash vs. Credit, never take advice from your brother in this area, do what is right for you.

Trevor from Financial Nut tells us Pros & Cons: Moving From Microsoft Excel To Google Docs For My Budgeting, I guess figuring out where to store your financial info is good on Google Docs, but maybe not…

Spousal Advice

We all know this advice type, “… why did you buy the 1080i HDTV, when the dishwasher is still broken?”, and other useful “buzz kill” type pieces of advice.

• My Journey to Millions presents Work at Home Scams on the Rise, what, I can’t make a million dollars sitting in my pyjamas and running a business out of my house? What a buzz kill man!
• The Coin Jar queries When having a land line and cell phone make sense, well maybe I want a Crackberry too!

Hopefully your family gives you as good if not better advice, from this Carnival of Personal Finance.