Don’t Feed the Alligators

A Personal Finance Blog from a Small-Scale Landlord’s Perspective
07.26.2008
Feeding the Firefoxes

Feeding the Firefoxes
Creative Commons License photo figure credit: Glutnix

It’s been another busy week in the MITBeta and ScrapperMom household. But I’m feeling like things are a little more under control since I started reading the now well known but still great book Getting Things Done by David Allen. I’ll have more on that in an upcoming post, but in the mean time I wanted to share some of the best articles that I read this week:

In National News:

With this week’s hike in the minimum wage, Nickel examines the historical minimum wage level relative to the value of a dollar and finds that those on minimum wage have been seeing the value of their salaries fall for the last 25 years.

The Freakonomics blog wonders are we a nation of financial illiterates?  I’ll reserve judgement for now, but what do you think?  Did you answer the quiz questions correctly?

Personal Finance

Shilpan at successsoul.com reposts Warren Buffett’s 7 Secrets for Living a Happy and Simple Life.  There’s some great advice here that really forms the basis for most personal finance: don’t try to keep up with the Joneses, be happy with who you are, not what you have, etc.

Mrs. Micah writes about an error in her paycheck and how thankful she is that she is not living paycheck to paycheck.  This reminded me of something similar that happened to ScrapperMom a couple of months ago.  Mrs. Micah also has some great tips for breaking the paycheck to paycheck cycle.

Home Economics:

EconomistMom writes about “a big family infrastructure day” that took a serious bite out of her bank account.  She makes a couple of great points in this article, especially in explaining why the health care problem is such a difficult nut to crack.

J.D. asks readers to help a fellow reader who asks “how can I get my wife to talk about money?“  Chronic disagreements about money are cited as a leading cause of divorce.  However many astute readers rightly point out that it’s never just about money.  As near as I can tell, open communication is the only way to truly make a marriage work.  In fact, that’s the best way to make nearly any interpersonal relationship work.

Social Psychology:

Steven Levitt at Freakonomics shares a great anecdote about performing a blind taste test to see if his colleagues could tell the difference between expensive and more frugal wines.  Can you guess what the results were?  Apparently there is now scientific evidence to support the idea that taste can be influence by pre-conceived notions about something.  I wonder if this means I can think my way into liking onions…

Giveaways:

Frugal Babe is giving away a $100 jewelry gift card to Diamond Nexus Labs in the spirit of switching away from mined diamond based bling.

Baby Cheapskate is giving away $200 worth of BumGenius cloth diapers.  As you may know, using cloth diapers is a great way to save money and save the environment.

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