Thursday, June 07, 2007

Recommended Articles & Recent Carnivals

Festival of Frugality #77 and Carnival of Personal Finance #103 are both up and running. A couple of good entries this week:

Plus 6 has an excellent article about all types of insurance you don't need. This is a great topic, which I will cover myself in the next few days. My philosophy: if you can afford to replace the insured item yourself, you are wasting money on insurance.

Accumulating Money wrote a superb piece about stock splits. It is a simple, straight forward explanation that is as good as anything I learned in business school. In essence, a stock split creates two (or more shares) where there was only one before. However, the price of the share is also split in the same way. Essentially, the value of your investment does not change with a stock split, however, stocks often increase in value after a stock split, for reasons covered in the article. Check it out for yourself.

Ask Mr. Credit Card brings up a question I have asked myself a number of times: how much money do you need before you consider yourself rich? I think the number for us is $5 million. This may be within reach for us, but will take us another 30 years to achieve...

Finally, Grad Money Matters is trying to figure out whether spending money on maid service is a waste of money. I am trying to figure out the same thing, but I think I am going to come down on the side of spending the money. We are both working hard enough with full time jobs and three kids to raise, we might as well outsource this little fun activity.

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