Carnival of Personal Finance #429 : Taking Risks Edition

Have you taken any risks lately?

I shared the following story in an article over at Studenomics about radical thinking:

It was February 1519, many of you were not around yet, while Hernando Cortez went on the final leg of his journey from Cuba to Mexico.

The plan was simple here: hit up Mexico, conquer, and become super-rich! When the crew arrived on the shores of Yucatan, Cortez told his army to, “burn the boats!” Yes, they burned their only source of transportation as they went to engage in battle. Kind of crazy, huh?

Why would you burn the boats? The logic here was that the army would conquer their enemy, take everything, and come back on their boats. Well, that or they would die trying to conquer. All or nothing.

I feel that I haven’t been taking enough calculated risks lately. It’s time to switch things up.

Editor’s choice.

You have to stick out and something bold sometimes. This is why I finally booked my ticket to Argentina and am heading down there next week. I need to finally learn Spanish at the conversational level. Enough of the programs. It’s time to test my skills out.

Alexa from Single Moms Income presents How to Make Money Blogging, and says, “Want to know how to make money blogging? Join me in a challenge to grow your readership and make money blogging.”

Alexa is on a roll and is looking to push herself. I happen to be a huge fan of making more money and getting creative.

Larry from KrantCents presents No College, No Problem: 5 Careers That Don’t Require a Bachelor’s Degree, and says, “Many med school grads are left with crippling debt and shockingly high malpractice insurance payments.”

I always enjoy articles like this. School isn’t for everyone. You don’t have to feel like a failure if the whole school thing isn’t for you for four years. There are other options.


Have you ever moved for a job? I’ve gone on many trips and such. One thing I’ve never done is actually moved to a new city for work. What do you think about this?

Stu from Poor Student presents Ways to Make Money on Campus, and says, “An ideal situation for a student when it comes to making extra money is to work on campus. That way you don’t have to leave and can fill your spares with making money instead of messing around at the cafeteria.”

Jason Hull from Hull Financial Planning presents Do You Feel Resentment At Your Spouse’s Spending?, and says, “When he comes home with new toys for the man cave or she comes home with new Jimmy Choo shoes, are you mad? Should you be? This article explores how to curb spousal spending envy.”

Harry Campbell from The Four Hour Work Day presents There’s no Loyalty in the Corporate World, and says, “I will never understand why people go into work and kill themselves working long hours and sacrificing their social life just to make someone else richer. If you’re getting paid by the hour, then you’ll see a direct correlation between how many hours you work and how much money you make. Unfortunately though, most high paying jobs aren’t hourly these days so you’re stuck working for a fixed salary.”

Pauline from Reach Financial Independence presents Money Choices: How Millennials Can Make The Right Financial Decisions, and says, “Here are some of the financial decisions Millennials can make and their implications on their personal life.”

Krista from 2 Copper Coins presents Could Arcades Provide Kids Financial Life Lessons?, and says, “While arcades are built on taking advantage of kids desire for imported toys that cost pennies in reality but tens of dollars in tickets, there are some important lessons your kids might pick up when they spend time spending some time in an arcade.”

Holly from Club Thrifty presents Why is Obamacare Taking Away my HSA?, and says, “Guess what. Obamacare severely limits the number of HSA-eligibile plans in Indiana. Is Obamacare taking away my HSA? You bet.

Marissa from Thirty Six Months presents ING Direct rebrands to Tangerine, and says, “ING Direct was acquired by ScotiaBank last year. As a result of the acquisition, ING Direct was required to change their name as they are not owned by the ING Group anymore.”


Are you challenging yourself physically? I’ve been training harder than ever. I’m a huge proponent of physical challenges. Can you join a team or something along those lines?

Adam from Adam Hagerman – Financial Coach presents Financial Sacrifices Now = Financial Freedom Later, and says, “Too often we become frustrated when trying to change bad financial habits and this leads to us giving up. However, it’s important to constantly remind ourselves that it more than likely took years to create the habits so it’s going to take longer than 30 days to correct them. We just need to keep adjusting!”

Natalie from Debt and the Girl presents Are We Enabling Bad Behavior?, and says, “I was catching up on some blog reading lately. I came across a blog where the blog owner was talking about purchasing something that I considered to be a little ostentatious.”

Barbara Friedberg from Barbara Friedberg Personal Finance presents Roadblocks to Saving: Not Planning Ahead, and says, “Learn simple tips to save for a house, car, retirement, or wedding. Savings tips reduce money stress and are easy to implement.”

Monica from Monica On Money presents 8 Warning SIgns That You’re Living Beyond Your Means, and says, “Read these tell-tale signs and stop living paycheck to paycheck! Are you living beyond your means and struggling paycheck to paycheck?”

Andrea from So Over This presents The Cost of Carrying a Baby: 8 Unexpected Expenses of Motherhood, and says, “On average, raising a child from birth to age 18 costs about $200,000. If you add college tuition to that number, you can end up paying up more than quarter million dollars to raise a college graduate.”

Hadley from Epic Finances presents Build or Buy?, and says, “Taking the big step to buy a home can be difficult. Buyers are often faced with the decision of whether they want to buy an existing home or build a new one. Here are some things to consider before making that big decision.”

Ray from Squirrelers presents Debate: When to Buy an Expensive Car, and says, “A discussion on a new car purchase led to a good natured debate on whether or not it should have been an upscale vehicle. This post discusses that in light of wants and needs when trying to make smart money decisions.”

TTMK from Tie the Money Knot presents Spending Money to Impress Friends: Is There Ever a Benefit?, and says, “Let’s face it, at some level most of care at least a little bit about the opinions of others. That being said, does it make sense to spend money to impress?”

Amy from Money Mishaps presents Money Mishaps How to Liberate Yourself from Student Loan Debt, and says, “The student loan crisis in America is absolutely massive and does not look like it is going to get better anytime soon.”


Pauline from Make Money Your Way presents October blog income and stats recap, and says, “I’m sharing my October blog income and stats recap of Make Money Your Way and Reach Financial Independence.”

Sam from The New Business Blog presents 5 Mistakes that Successful Entrepreneurs Wish they Would have Avoided, and says, “Many successful small business owners and entrepreneurs made mistakes when they started their businesses that they wish they could go back and correct.”

Emily from Evolving Personal Finance presents Would You Take a Break from Working?, and says, “When you change jobs, do you take a few weeks or months off? Would you if you could afford it?”


PK from Don’t Quit Your Day Job… presents Is the Stock Market Overpriced? Part III, and says, “A continuation of my series on attempting to value the stock market as a whole – this time using slick math from Nobel Winner James Tobin. So… is it overvalued?”

Dividend Growth Investor from Dividend Growth Investor presents How to buy dividend stocks with as little as $10, and says, “I recently stumbled upon Loyal3, which lets you purchase shares of some of the best stocks in the world for no cost. In fact, you can purchase shares in some of your favorite dividend stocks with as little as $10 with no commissions whatsoever. Even better, you can use your credit card to purchase shares directly from the companies you are investing in with no cost and earn credit card rewards in the process.”

Bryce @ Save and Conquer from Save and Conquer presents Your Asset Allocation Is the Most Important Aspect of Your Portfolio, and says, “Barbara Friedberg has been running a 5-part series on asset classes investing on her personal finance blog. In Part 3, “What is Risk Tolerance and How to Figure Out my Asset Classes Allocation,” Barbara gives some good thoughts on asset allocation. I am highlighting Barbara’s post, because your asset allocation is one of the most important parts of setting up your portfolio. Here are some thoughts on asset allocation from some of the most renowned people in economics.”

Graham Clark from Moneystepper presents Should I invest in emerging markets?, and says, “Emerging markets are seen as a risky place to invest. But what have the returns from emerging markets been over the past 10 years? And should I invest now?”

Bob from Dwindling Debt presents Age Old Debate of Whether to Buy or Lease, and says, “To buy, or to lease, that is the question. People have long debated on both sides whether they should buy or lease a car.”

Lenny from Best Money Saving Blog presents What Is the Importance of Seeking a Mortgage Broker?, and says, “Many first-time homebuyers make a mistake by trying to negotiate a mortgage directly with a lender. Unless you are an expert in home loans, it makes much more sense to hire a mortgage broker to do the negotiating for you.”

Money management.

Andrew P from Finance with Reason presents Mental Accounting: Is it good to have accounts for different things?, and says, “Mental Accounting, a practice that is often financially detrimental, is the tendency to separate money into accounts based on it’s purpose or source.”

Miss T. from Prairie Eco Thrifter presents Unintended Consequences, and says, “Think through what you say and what you do. Remember that your words and actions do have consequences – try to make sure those consequences are the ones you intend.”

Sustainable PF from Sustainable Personal Finance Blog presents Adopting Minimalist Principles to Save Money and Live Sustainability, and says, “When my husband and I first married, we were poor and in debt. It was a difficult place to be, and, even as we made inroads and improved our finances, we still felt pinched. As a result, we decided that we could not afford to set aside money for the future.”

Jack from Money Saving Ethics presents Tips for a Great Financial Year, and says, “Improving your financial situation is not as difficult as it might sound, but it does require dedication and thought. It is really just a matter of starting and maintaining healthy financial habits.”


Grayson from Debt Roundup presents Do Companies Think I Am Stupid?, and says, “I have had my fair share of bad experiences with service companies. I don’t know if I have a stamp on my head that tells people I may be stupid, but it has gotten out of hand. The latest company is my A/C repair company that I have used in the past. Enjoy the story of another company thinking I am stupid.”

FI Pilgrim from FI Journey presents Flipping The Script: How I Learned To Live On Last Month’s Income, and says, “Nobody wants to live paycheck to paycheck, but for a long time I did just that. Here is how I flipped the script and began living on last month’s income.”

Buck Inspire from Buck Inspire presents Club MomMe’s Family Fall Fest 2013 Recap, and says, “Although I was amped for the Entrepreneurship for Moms speaker panel, there also were tons of sponsors and vendors showing off their wares.”

Matt from Budget Snob presents The High Cost of Using Cash, and says, “It has been calculated that the aggregate expense to all households in the United States for accessing and using their cash is $31 billion a year.”

You like this carnival? Be sure to submit your articles for next week’s edition, using the following submission form.

I would like to hear about some of the risks that you’re taking. Share them with us below!

“In a crowded marketplace, fitting in is failing. In a busy marketplace, not standing out is the same as being invisible.” — Seth Godin

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