photo: zimpenfish 

If you’re ready to make some major changes in your financial life, then check these five no-nonsense books about money. We read them all to help you choose the best one for you. Whether you’re trying to decide if you’re ready to launch your own business, start a family, or just get ahead in the world, here’s a guide to the latest personal finance and money management books, hot off the presses:

For young professionals trying to get ahead:

In Generation Earn, author Kimberly Palmer helps 20-, 30-, and 40-somethings get on top of their finances by saving more, living more frugally and supporting their growing families. Palmer, the personal finance columnist for US News & World Report, helps readers figure out when and how to pay off debts, how to earn more money, where to put savings, when to buy a house, and how to share money with romantic partners. She also disproves the stereotype that young people are bad with money and shows how the recession taught young professionals some useful lessons.

For psychology lovers looking for some insight into their spending habits:

In Farnoosh Torabi’s Psych Yourself Rich, the television personality explores why we make so many irrational decisions about money, and how to deal with that tendency. She interviews everyone from behavioral economists to ordinary consumers and shares her own life lessons, as well. Those lessons can help us all develop better discipline – and in some cases, more rational decision-making – when confronting financial choices.

For families considering big financial decisions:

Carmen Wong Ulrich’s easy-to-read The Real Cost of Living takes the reader on a personal tour of huge money decisions. Ulrich points out the “real cost” of many habits and lifestyle choices, from starting your own business to smoking to having a baby. She points out that the “real cost” isn’t always obvious, and even the way economists and the media talk about money can be misleading. For example, we’ve all heard of the “motherhood penalty,” but do mothers feel penalized for having children? Maybe financially, but children are such a joy, the personal and family benefits are immeasurable.

For people trying to master money basics:

Liz Pulliam Weston, the queen of online financial gurus, has come out with a new book, The Ten Commandments of Money, where she once again provides clearly written, easy-to-understand advice for people who are starting at square one with their finances. If you are struggling with debt, or to grasp the meaning of the term “credit score,” then Weston is for you.

For women in relationships:

In Get Financially Naked by Manisha Thakor and her coauthor Sharon Kednar point out that women often make the mistake of trusting their male partners too much – with money, that is. That’s why this dynamic duo recommends asking important questions before moving into together or getting married, especially about debt, credit scores, spending habits, and career plans. A financially healthy relationship starts with some honest talk, and this book can help you start the conversation.

Silicon Valley Blogger (SVB) runs  The Digerati Life and  The Smarter Wallet, where she writes about  general personal finance topics such as investing, budgeting, debt management and small business ideas.

Photo: Mike Fillion

Many thinkers and motivators throughout history have advised us to “choose our battles.” From Sun Tzu to Dale Carnegie and even Dr. Phil, we are urged not to “sweat the small stuff” and, instead, to channel our energies into things of higher priority. Heeding these words makes sense, given that we have but 24 hours a day and only so much energy to work with.

Just as it is with time and energy, money is a limited resource that we need to manage with care. We just don’t have enough of this resource to go around, in order to address all of our needs, wants and whims! Each significant financial choice we make often means making a sacrifice and careful deliberation. It’s therefore often the case that we ask ourselves “is making this purchase worth it?” How do value a purchase before you go ahead and make it?

This week’s personal finance blogger roundup is all about how we make choices and how we determine whether the things we pay for are worth the money. Then again, there are no right and wrong answers here, because each consumer’s situation is different. What’s important is that we are all able to arrive at our own personal decisions through careful evaluation.

Have you been presented an upsell as you’re faced with a major appliance or electronic purchase? Before falling for it, ask the question: Are Extended Warranties Worth The Money? Explore this extra cost in this article by 50 Plus Finance.

Out Of Your Rut’s New Or Used? Cheap New Cars – Are They Worth the Money? takes a look at Yahoo’s discussion on cheap cars. This post goes through various points that need to be considered by the car buyer. For instance, would you go for a brand new but cheaper car — or a used but pricier car? Weigh all the criteria to arrive at the decision that you’re most comfortable with.

Recently, hybrid cars have been all the rage. Peek under their collective (and figurative) hood before you buy one, by reading WealthPilgrim‘s take on hybrids: 5 Big Disadvantages Of Buying A Hybrid. Just how economical and environmentally friendly are they really?

Let’s move on to international trade and currencies. MoneyVille discusses a credit card and currency issue for Canadians: Is A U.S.-Dollar Credit Card Worth It? Foreigners may wonder whether applying for an American credit card can make sense. If you are Canadian and are considering the possibility of picking up a US Dollar credit card for yourself or for business, then MoneyVille’s article discusses the pros and cons of this decision in-depth.

It’s a good idea to diversify into foreign assets. But one thing that you may not hear about often are certain schemes that are marketed to expatriates. Creveling & Creveling discusses the thorny issues behind offshore investing in the article Five Things to Consider Before Buying Offshore Investment Schemes. It’s an interesting read, and offers us a “buyer beware” warning. While it’s good for our portfolios to have foreign exposure, always be aware of the risks found in different types of schemes, particularly those that involve unconventional investments.

Let’s move on to domestic matters. Some people may find that outsourcing certain jobs is a worthwhile tradeoff between the time they save and the money they spend on these arrangements. DIY or Hiring a Professional: Factors to Consider by Squirrelers.com can give us some points to consider. Which stance will you take for the tasks you need to do — hire someone or do it yourself? Which activities should you delegate to someone else?

Is a TV set worth keeping as a living room accessory? A lot of us are certified couch potatoes, and will say that our indoor entertainment offers us a pretty good value. However, Million Dollar Journey disagrees about this in his post about Living Without A TV. Where do you stand?

A life isn’t well lived if you’re only thinking about saving money and penny pinching. If you work hard, you deserve to treat yourself to an occasional break. If you’re not a traveler, then you may want to Try A Staycation, which is also a budget-friendly way to enjoy a break. This article by The Savvy Life may help you find a creative, frugal way to unwind and de-stress.

Throughout our lives, we expect to face a lot of financial decisions, both large and small. Ultimately, living well involves maintaining the right kind of balance in our lives. The decisions we make should be based on our understanding of the tradeoffs between our time, money and other resources. Any mistakes we end up making in the face of these decisions should be taken as the price we pay for a lesson learned.

Silicon Valley Blogger (SVB) runs  The Digerati Life and  The Smarter Wallet, where she writes about  general personal finance topics such as investing, budgeting, debt management and small business ideas.

photo: meddygarnet

Happy 2011! It’s that time of the year when people are still a little sedate because of holiday hangovers. The work grind is still picking up momentum from the holidays, and these pockets of “calm before the storm” are perfect moments for us to start the year right. Hopefully, we have time to reassess our lives in order to see areas where we can improve, directions that we can take and goals we can set for 2011 and beyond. Here are a few financial articles to guide you.

One major reason why most of us don’t stick to our New Years’ resolutions beyond the third week of January is that they may not be realistic, sustainable, nor practical. Check out Faith and Finance‘s list of 6 Ways To Make New Year Resolutions That Work for some tips on how to stick to yours.

One of the most common New Years’ resolutions and goals for 2011 is improving one’s career situation or making more money. Here are two great articles that can give you some insight on this matter. Studenomics’ post on Top Three Dream Jobs of 2010 & Why They’re So Popular may give you ideas about where to take your career next, or may allow you to think about your options should you hit a rough patch at your job.

For ideas on earning more and keeping more of your money, regardless of your career situation, check out The Smarter Wallet’s Get Extra Cash & Make An Additional $100 A Month .

Have you always been meaning to start your investment portfolio but never really had the guts, inclination or time to do so? How about reading through Are You Ready To Invest In The Stock Market? This article by NerdWallet may help you figure out if you’re prepared to become a stock investor.

When investing in stocks, it’s important to check on industry trends. Things Don’t Cost What They Used To: 10 Major Price Shifts in 2010 by Wisebread may point out those areas where prices are on the rise. This may be bad news for the consumer, but is better news for the investor. Either way, this article offers extra insight into price trends that should prove useful.

Planning for the year ahead also involves simplifying, organizing and improving our efficiency. One great way to handle our finances more quickly and efficiently is to go paperless: I’m Switching To E-Bills And E-Statements by Money Smarts Blog discusses one person’s decision to try out online billing management.

Let’s take a look at the tax front and see what’s in store for us this 2011. Kiplinger’s Tax Deal: What’s In It for You? reviews the tax developments that President Barack Obama has signed. Though the financial world is apprehensive about what this could mean for our economy, to the individual consumer, this could mean more breathing room.

If you’re looking for a way to minimize the impact of the Alternative Minimum Tax, try increasing your charitable donations. The New York Times’ Bucks personal finance blog discusses Minimizing A.M.T. Through Charitable Donations. The article gives a great background on how the Alternative Minimum Tax arose and how you can work around it and get a bit of a break from your taxes.

The new year may still hold a degree of uncertainty for us all, but no one can deny that new beginnings always signal hope. Sure, life could deal us a bum card, but it’s up to us to make the most out of the cards we are dealt and to find the positive in any situation we face. So here’s to a great new year and a fresh start!

Silicon Valley Blogger (SVB) runs  The Digerati Life and  The Smarter Wallet, where she writes about  general personal finance topics such as investing, budgeting, debt management and small business ideas.

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Ever since 2004, viewers have loved the NBC reality show The Biggest Loser. Now in its tenth season, the show revolves around a simple concept: overweight contestants compete for a $250,000 grand prize by striving to lose the most body fat by the end of the season. Unlike other reality shows, there’s no politics or favoritism. The scales don’t lie, and the winner is, very simply, the biggest loser.

At a time when we tend to set goals for the new year, there’s something to be said about extracting some strageties and principles that help The Biggest Loser contestants succeed – and apply them to money management. Who knows, following the tips below might help you achieve not only your fitness, health and weight-loss New Year’s resolutions, but your financial ones, as well.

Adopt Modest Goals Early On

When you weigh 400 pounds, losing a mere ten of them might not sound very significant. Yet participants on The Biggest Loser know that weight loss is a marathon, not a sprint. By losing weight in ten- or twenty-pound increments, contestants gradually build up the confidence and motivation to keep moving. Those who condemn themselves as failures for not immediately losing tons of weight inevitably wind up losing the contest – and giving up.

Many people make similar mistakes when they begin overhauling their financial lives. Unhappy with their current position, they make unrealistically large commitments like “cut my expenses in half.” Noble as this goal may be, it is virtually impossible to make such a drastic change with no momentum behind you. It’s better to set more reasonable targets (say, eating out one less day per week) and string together a series of small victories before attempting massive changes.

Measure Progress

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There is no uncertainty about who is making progress on The Biggest Loser. No matter what a contestant says, the truth is always laid bare when they step on the scale. Fail to weigh in at a certain target, and you risk being eliminated from the show completely. This serves as a powerful motivator to put in the needed work and dietary changes in the weeks before weigh-in.

Those struggling to get their finances in order need to measure progress as well. Vague goals like “saving more money” or “spending less” are unhelpful because they don’t set clear expectations. Does tossing a stray $5 into your ING Direct account really mean you’ve achieved your goal of “saving more money?” No – for financial progress to be made, it must be measured. Set specific, numeric goals in areas of improvement – for example, saving an extra $50 per week, or cutting your grocery bill by 15%.

Be Held Accountable

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It might seem like the biggest reason for contestants to lose weigh is the $250,000 prize offered to the biggest loser. Yet perhaps an even larger motivator is the fact that millions of people are watching them every single week. Accountability is a key ingredient when it comes to achieving difficult goals. Very simply, we are more likely to follow through on something if we know others are paying attention to us.

Use this principle to your advantage when it comes to personal finance. Instead of keeping your goals a secret, publicize them. Tell your friends and family about the positive changes you intend to make. Go into detail about all of the new, more disciplined behaviors they can expect to see. This way, you (like The Biggest Loser contestants) have an audience to avoid letting down.

Have Personal Discipline

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Despite all the advantages of being on a highly-rated cable TV series, each season’s biggest loser wins by putting in a ton of hard work. Besides complying with a new calorie-starved diet, contestants are put through a strenuous exercise regimen of up to six hours per day. Kai Hibbard, a Season 3 finalist, reports that participating in the show led her to develop an eating disorder that remains to this day. Whether you think the show goes to extremes or not, it shows that losing lots of weight requires lots of work – and personal discipline.

Balancing a checkbook isn’t as hard as losing 200 pounds, but personal commitment is just as critical. It’s easy to read about getting your money in order and vow to make changes. To follow through, you’ll need discipline to resist the poor choices that landed you in this predicament and stay on your new path.

Keep a Positive Attitude

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That said, there’s a fine line between having personal discipline and beating yourself up. Each season’s biggest loser has their moments of self-doubt. But overall, they find ways to celebrate their progress and keep moving. It could hardly be any other way. When your goal is to lose hundreds of pounds, there’s simply no time for self-pity given all the work that needs to be done.

Sadly, self-pity leads many to fail at achieving their financial goals. Rather than getting down to work, these people are preoccupied with scapegoating “the system”, comparing themselves to others or finding reasons to flounder. Take a cue from The Biggest Loser and stop the blame game. Truth be told, it makes no difference at all why you aren’t succeeding financially – all that matters are the best steps forward and how to take them.

photo: meddygarnet

Every year, we resolve to lose weight, eat healthy, exercise, quit smoking… you get the idea. And while our health is no doubt important, what about our finances? Below are a few New Year’s resolutions that, simple and obvious as they seem, can truly help improve your finances in 2011.

Eliminate Debt

Do you carry a balance on your credit card or line of credit? Or maybe you have a car loan or some form of financing for furniture? These debts can keep us from doing what we really want to with our money — and paying them off can free up your income and allow you to pursue exactly that.

But paying off debt is easier said than done. Where exactly do you start? One stratetgy is to tackle the debt that has the highest interest rate first. Once that is paid off, move to the next highest interest, and so forth. This way, you’re making more progress by reducing how much of your money goes to paying interest each month. As you get in the habit of paying off your debts, it can be very rewarding to see your balances decline to $0!

Create An Emergency Fund

If you’re debt free, the best way to stay that way is to make a New Year’s resolution to create an emergency fund. Emergency funds mean different things to different people. For some, it’s having enough to cover six months of expenses in case of job loss, for others it might be having enough money to cover car repairs or insurance deductibles.

If you’re just starting to fund an emergency fund, then I think that something is better than nothing. If you can save up $5,000 this year, great. If you can save $10,000, even better.

For U.S. residents, the best place to stash an emergency fund is a high-yield savings account. The rates aren’t really anything to brag with right now, but remember that the purpose of an emergency fund is to save you in case of an emergency — not to make you rich.

If you live in Canada, consider using your TFSA for this so that your income, interest and gains are tax free. You get $5,000 of contribution room each year. If you haven’t contributed to a TFSA before, this means you will be able to save up $15,000. Then if the time comes that you need the money, it’s simple to withdrawal, though you may need to wait until the next year to get that contribution room back.

Save For A Down Payment On A House

If you’ve already accomplished the previous important steps and homeownership is on your To Do list for next year, then you’d have to focus on saving enough for a down payment.

As you are probably well aware, banks in the U.S. now require the good old-fashioned 20% down payment in order to approve most loans. (There are exceptions, of course, but it is safe to say that the more money you can put down, the better your chances of qualifying for a mortgage.)

The minimum down payment in Canada is 5%, though with a high ratio mortgage like this the CMHC requires that you pay insurance that protects the banks from the increased risk they take on. While it might take some time to save, a 20% down payment can be a better goal. This is the amount where you’re no longer required to pay the CMHC insurance and your mortgage payments will be much more manageable.

If you’ve been putting money into an RRSP, meanwhile, one option you should look at is the Home Buyer’s Plan. This allows you to withdraw up to $25,000 (and your spouse can withdraw $25,000 from theirs) towards your first home without being taxed on the withdrawal. Keep in mind that this is basically an interest-free loan to yourself; you need to make equal “payments” over 15 years. This is done by contributing back into your RRSP, but not receiving a second tax deduction on this amount. So if you withdraw $15,000 under the Home Buyer’s Plan, the first $1,000 of RRSP contributions each year will not add anything to your tax refund. This is a great way to put together a down payment, but keep in mind that not having this money invested means you might miss out on future gains.

Maximize Your Retirement Savings

If you live in the U.S., have a 401(k) plan at work and are not yet contributing enough to maximize your employer’s match, be sure to increase your contributions for 2011: that match is as close as you’ll get to free money. And if you qualify for contributing to a Roth or Traditional IRA, you can stash away another $5,000 ($6,000 if you are 50 or older) and, depending on your Adjusted Gross Income and the type of IRA you choose and/ or qualify for, part or all of that contribution may be tax deductible. (Mint’s IRA tool can help you choose the right type for you based on your age, marital status and income.)

Canadians may have a slightly different retirement savings strategy. An average couple might spend $50,000 a year in retirement. The good news is that a retired couple, both of whom worked most of their lives, can expect the Canada Pension Plan (CPP) and the Old Age Security Program (OAS) to pay around $30,000 a year. You’ll hear a lot of different numbers related to how much money you need for retirement, but ultimately the more you can save now, the less you’ll have to worry about it later. (This applies equally to both sides of the Canada-U.S. border.)

Having a well balanced portfolio of low cost index funds in an RRSP is a great way to save for retirement. You can get index funds that cover Canada, the U.S. and international equities. You should also add a bond index fund to reduce the risk. You can simply start with 25% in each index fund, and then rebalance each year. In later years, look to convert some of the equity index funds over to bonds to protect yourself from major losses in the market that you wouldn’t have time to wait for a rebound.

Also consider your TFSA for retirement. Since the RRSP withdrawal is taxed, you can benefit by keeping the withdrawals in a lower tax bracket. Then you can pull extra money out of your TFSA without being taxed on that money. While the TFSA seems rather small right now, someone in their early twenties can expect to have over $200,000 in contribution room before retirement and even more with compound interest and stock market gains over that time.

Pick Your New Year’s Resolution

Those are a few options you could choose, depending on where your personal finances are at right now. But there are many more you could come up with. Personally, mine is to sell off a bunch of stuff I no longer need. This will help provide a bit of extra money, but will also declutter our house and we won’t feel the need to move to a larger house to store even more stuff.

What New Year’s resolution are you making to improve your personal finances?

Tom Drake is the head writer for Canadian Finance Blog, writing about universal topics such as saving, frugality and earning extra income, as well as Canadian specific topics like RRSPs and TFSAs. Tom’s other site is Money Index, which aggregates all the best sites into one easy to use source for everything finance.

WIth the recent launch of Mint.com in Canada it seems there’s no better time to look toward our northern neighbors to see how they manage their money. We surveyed at total of 1,201 randomly selected Canadians 18 years and older, from October 26 to November 1, 2010. Note that these numbers are in Canadian dollars so you’ll want to check the current exchange rate to compare to the U.S..

When it comes to spending, a few facts stand out: Canadians spend $10 a week on coffee and $25 a week on lunch.

Canadians are most likely to spend over $100 on a dinner out or shoes.

And only one-in-three Canadians set and stick to a holiday shopping budget.

Average debt is a staggering $29,000!

Just as in the U.S., younger people 18-34 are finding it harder than older people to save enough or invest in their future.

For more check our latest infographic.

photo: AMagill

December is a significant time for most of us, when we get to celebrate the holidays with cheer and maybe a touch of chaos. It’s also when we take stock of the past year and start thinking about our financial and personal goals for the following year.

The winter season sets the tone for reflection and contemplation. Most of us look back on the months behind us with a heart grateful for the wonderful things that have happened, as well as with a mind that’s been made aware of mistakes made, lessons learned and a hope and resolve that we’ll do better going forward. This form of reflection can help us tie up the loose ends of the past year and allow us to prepare for what’s ahead. Just as we clean out our attics, basements and closets, it may be time to take a look at our financial house and do a little cleaning before we ring in the New Year. Mint has taken a look around the financial blogosphere to put together some tips on how to do just that.

First up is Pick One, Just One. MoneyCrush has an honest observation about the act of making New Year’s resolutions: often, we just don’t end up fulfilling them. So her suggestion makes sense: Why don’t we pick just ONE major life change to pursue for 2011, and follow through with it? We may just be able to achieve one of our more important goals if we take her advice.

Then, when you’ve set your major goal for 2011, how about clearing the cobwebs in your mind? The Simple Dollar suggests: Out With The Old, In With The New: Do a Mind Sweep. Find out how to move any distracting concerns out of the way, then assess how to prioritize the important concerns. What are those things that are most important to you? Let’s determine how to organize our thinking so that we can become more effective and efficient.

Financial management is something that falls into our high priority bucket by the time the New Year rolls around. Kay Bell from Don’t Mess With Taxes writes about the crucial documents that you need to put in order, in her article, Year-end financial details, Dec. 2010. This may be somewhat of a chore to do each year, but as they say (and as you often hear), “Somebody’s gotta do it.”

To motivate you further to get your taxes in order, here are 10 Ways to Save on Taxes Now from Personal Dividends. For instance, think about boosting your retirement fund — this may allow you to experience extra tax benefits as well, which would improve your bottom line. So why not get motivated about increasing your retirement savings and kill two birds with one stone?

With the important things out of the way, how about a bit of fun? Mr. and Mrs. Not Made of Money recommend some great tips on What to Do With Your Christmas Bonus. There’s a lot you can do with your windfall, and this post seems to have covered all the bases.

It’s also a time of travel for many, with a lot of folks visiting their families and loved ones to celebrate the holidays. If you’re thinking of flying, make sure you check out these Smart Tips On Buying Discount Airline Tickets from The Digerati Life, which discusses some ways you can save on travel by reviewing your earned rewards and airline miles that you’ve accumulated throughout the year via your credit cards. Watch out for the tips on how to best use your cash back rewards, as it pertains to travel.

And before we go, Free Money Finance shares a great tip or two in his book review 16 Mindsets of the Cheapskates Next Door. This review gives an outline of the book, as well as FMF’s insights on certain topics. It’s time to do away with old bad habits and take on better habits that have worked to make cheapskates succeed in accumulating wealth. Wouldn’t you like to take a peek into the frugal mindset? If you’re looking to be more thrifty this 2011, then this may be a good book to absorb.

Indeed, it’s time to sweep out the clutter, break bad habits and work to improve our attitudes. Are you ready to welcome 2011 with a fresh enthusiasm about your finances?

photo: AMagill

It’s the holiday season once again, and isn’t everyone excited? No matter what shape the economy is in, we should still enjoy the holidays. After all, this time of year isn’t about the price or quantity of gifts we give, or even the pomp, glitz and glamor of our holiday decorations. It’s about getting together with family, friends and loved ones, and remembering the things that matter.

So this week, let’s check out what the personal finance blogosphere is drumming up for the holidays.

How Much Are You Spending This Christmas?

Let’s start off with understanding where our spending weaknesses lie. As they say, “knowing is half the battle.” Credit Sesame brings us What’s Normal for Consumers to Spend This Holiday Season? The advice here is that we should be aware of our holiday spending temptations (whether they are in the form of gifts, decor, or even greeting cards), then develop and stick to budget boundaries for each category.

Simple Ways to Save on Gifts

While we are on the subject of learning how to stick to our budgets, let’s review some ways to save on gifts. One of the best ways to do so is by Making Gifts For Friends & Family as suggested by The Smarter Wallet. Not only will your gifts be unique and memorable, they’ll also communicate thoughtfulness and caring, given that you went to great lengths to craft special gifts for your loved ones.

Another great way to save on gifts is by regifting. Canadian Personal Finance Blog discusses Holiday Regifting in Families – Hand Me Downs = Regifting, which is a great way to save on toys for your kids. It’s a fact: kids outgrow their toys. Think about regifting as a money-saving strategy if you’ve got kids who are willing to let go of toys that are in mint condition. This way, you’ll avoid letting these toys gather dust in your attic, while also making another kid really happy this season.

Even More Money-Saving Holiday Tips!

Christmas decorations are a big part of the winter season. This is a category where many people overspend. You may want to take SquawkFox’s challenge, which she describes in Christmas Decorations: 5 Ways to Decorate Your Holiday Table on a Budget. She offers a few frugal decorating tips that can help you keep your holiday budget under control.

To find even more tips on how to save this holiday season, check out this great list by Rather Be Shopping: “The Savings Squad”: Holiday Shopping Tips Edition. You can find everything from post-Black Friday deals and holiday charity ideas to tips on saving money on your holiday feasts! This awesome list covers almost everything you need to remember, plan for and budget.

Despite the fact that we all are on a quest to save money, you will still find some pricey items that you just won’t be able to resist buying. To get the best deal, arm yourself with guidelines on getting the best value for your money. Good Financial Cents presents Are You Really Getting the Best Deal? 5 Things to Consider When Comparison Shopping. This is a great guide to help you when you weigh your purchasing choices. You may be surprised to find which “deals” are, after all, not really deals.

Capturing the Moments Without Breaking the Bank

Speaking of pricier items, do you have a good digital camera to capture those holiday moments for posterity? If you need help figuring out how to choose a digital camera, here is a great guide by BestInClass.com: Choosing a Digital Camera for Photos of Children or Pets. Kids and pets are known to be fickle subjects, so try out the tips here to produce some awesome photos.

Make A Little More Money For The Holidays

We end our roundup with tips on how to Earn A Little More Money By Christmas. Peak Personal Finance outlines suggestions for odd jobs you can take on to earn a little more cash by the holidays. Wouldn’t you like to extend your budget with a little more pocket money? These effective suggestions can show you how.

We hope you enjoyed our picks. Here’s to sticking to your budget, stretching it, and even adding to it this holiday season. Have a meaningful one!

Silicon Valley Blogger (SVB) runs The Digerati Life and The Smarter Wallet, where she writes about  general personal finance topics such as investing, budgeting, debt management and small business ideas.

photo: AMagill 

Different strokes for different folks, they say. So when it comes to our finances, it’s often the case that how we go about dealing with our money matters isn’t quite like how other folks may do it. After all, personal finance is…well, personal.

We’ve all got different ways to handle money and it’s typically based on our background and the role models we’ve had in our lives. Many times, our experiences also shape the way we think and work with money. And while there are often broad guidelines with how we can best achieve financial success, getting to that point may take each of us through different routes and experiences.

There’s no absolute “right” way to make your money work for you. With all our diverse circumstances, what works for you may not necessarily work for someone else. The key is to find that approach to money management that fits you well.

Nevertheless, we can always learn a thing or two from the way other people handle their finances. Seeing how others go about their financial tasks can help us change our way of thinking or even help us tweak our own behavior.

So what kind of personal financial value system do you have? Some financial bloggers share with us some of their personal perspectives:

How Do You Deal With Your Finances?

Delayed Gratification

There are common threads in the ways people deal with money. And here we present a great read on one of the most influential factors in financial management: the ability to delay gratification. Punch Debt In The Face shares Marshmallow Test: A Look At Delayed Gratification. If you’re the type who could be profiled as a shopping addict, you may want to read this article. Indeed, your impulse control has a lot of bearing on your ability to grow your wealth.

New System in Order?

Speaking of personal systems, Fiscal Fizzle talks about how managing money may not always be about what new software you’re using. It actually boils down to four ideas that drive home the point, which he lists in his article It’s Rarely About The System. This is an interesting read that may lead you to rethink the way you plot your cash flow.

Factoring in the Fun Stuff

Do you factor the fun things into your personal financial system? Well you should! Fun things are what make life, well, fun. And Sweating The Big Stuff reminds us of how crucial it is to take care of one’s partnership. The question Do You Exchange Gifts With Your Significant Other brings to mind those things that matter most: our relationships. This article brings us back to what’s real and important in life.

The Perfect Salary for Happiness

Since we’re on the topic of contentment and what life is all about — One Money Design asks, What Is The Magic Salary For Happiness? Here’s a pertinent response from The Wall Street Journal: It’s around $75,000. These articles share a surprising result: contentment reaches a plateau when people hit that “magic” level of $75,000. One Money Design reminds us that that happiness goes beyond our salaries, and that job satisfaction plays a bigger role in getting people to stick to their careers and their jobs.

A System That May Not Work For Everyone

Not everything you hear or read about is necessarily etched in stone. Two Pennies Earned challenges some long-held beliefs of coupon users with this piece on Why You Shouldn’t Use Coupons. This just proves that there are exceptions to any rule, and what works for some may not necessarily work for you. Is coupon clipping really worth the savings? Maybe not, if it becomes a headache to deal with or causes you to spend a lot more than you expect.

Making A Budget Work

Money Beagle shares another situation that may not be true for everybody. While some people may be paid every two weeks, others may be paid bi-monthly, or even monthly. If you’re paid every other week, you may be pleased to receive “extra” paychecks for two months in a year. But this system can have a downside, as Money Beagle discusses in his article When That Extra Week Goes Against You. Because of some accounting nuances, this system may do a number on your budgeting schedule, especially if you advere closely to your budget.

Financial Etiquette

How do we approach money matters in a social situation? 50 Plus Finance brings up the matter of financial etiquette and the proper ways to address certain situations that revolve around money issues. Not everyone finds it comfortable to discuss money and finances, so take note of the checklist you find in this article that asks Do You Have Financial Etiquette? This piece gives you a heads up on those potentially awkward situations.

The Bottom Line

We all have our personal ways and approaches to making things work. The financial strategies we follow and the systems we embrace are there to make things easier for us to function. The things we learn about personal finance are usually just basic guidelines we can adapt to help us manage our finances better. Sometimes, learning about how others handle their money can give us ideas on how to improve our own personal financial system. Are you happy with how your system works?

Silicon Valley Blogger (SVB) runs The Digerati Life and The Smarter Wallet, where she writes about  general personal finance topics such as investing, budgeting, debt management and small business ideas.

(FX Network)

Sports fans can’t get enough of The League, the hit FX comedy about a friendly fantasy football league. The show just launched its second season on September 16 and figures to be a runaway success. But while The League isn’t just about friends and pigskin (featuring guests like Cincinnati Bengals wide receiver Chad Ochocinco) – and refusing to grow up.

Careful viewers can come away from the next episode with not only some good laughs, but usable personal finance advice.

Remain Steadily Employed

It’s somewhat curious that Pete Eckhart, the imaginary fantasy league’s 3-time defending champion, has no known job. With season two underway, he is still the only character whose occupation is a total mystery. In lieu of employment, all we see from the recently divorced Eckhart are his repeated attempts at tricking the others into making lopsided trades at the game table.

But – obvious as it may sound – remaining employed is actually half the battle when it comes to financial success. Assuming you put a system in place for automatically paying bills, saving and investing, steady income is all you need. By remaining employed, you literally put yourself on a conveyor belt to financial freedom.

Get Involved

(YGX)

Episodes in The League’s new second season involve Rafi, Ruxin’s obnoxious brother-in-law, the newest member of the league. It’s immediately clear that Rafi is not participating by choice – rather, it was Ruxin’s wife Sophia (and Rafi’s sister) who made the push for him to join. The only problem? Rafi has absolutely no passion for football or even a basic working knowledge of the game’s rules. His being there serves more to annoy and frustrate everyone else than to add any real value to the group.

There are plenty of “Rafis” in the world of personal finance, as well. People who are not currently managing their money very well – and who would benefit most from learning how – sometimes resist it more than anyone. A single book or article could put them on the right track, but they’d rather scapegoat people or drag their heels than read it. Don’t be that guy (or gal). Make personal finance something you’re enthusiastic about and happy to do, not a despised chore.

Stick To Your Plans

(Steve Snodgrass)

Speaking of Sophia: we’re all in favor of faithful marriages, but viewers of The League see this character take it to almost laughable extremes. Time and time again, Ruxin’s seemingly innocent behaviors are condemned by the always-pure Sophia, who does not even allow Playboy magazines inside their home (because to her, it’s cheating.) This is just one of many battles between the Ruxin (a permissive Jew) and Sophia, a hard-line, by-the-book Christian forever set in her ways.

It’s easy to point that Sophia takes commitment and sacrifice a bit too far. But we can all take a page out of her book when it comes to sticking to our financial goals. In personal finance as in life, temptation is always there. Like an an excuse to flake out on your budget or spend money you don’t have. Instead, resolve to stay focused. Resist the inevitable urges to stray from the path you know you should be on.

Be Self-Reliant

(bfishadow)

If anyone on The League is a poster child for dependence, it’s Taco McArthur. The younger brother of fantasy league commissioner Kevin, Taco is somewhat like Rafi: having virtually no knowledge or interest in football, but participating anyway because no one else cares to have him around for very long. When he isn’t hooking up with strange women, he survives on charity from Kevin and frugal life choices like barter and making his own food. He’s an eclectic and interesting character (who also dabbles in martial arts) but relies solely on others to get by.

To become a master of your money, you must also become a master of yourself: that is, you need to be self-reliant. This means not only having steady employment (see our first point) but also taking full responsibility for every aspect of your financial life. Setting goals, establishing habits and making smart day-to-day decisions are all examples of this.

Give Credit Where It’s Due

(Beneath_B1ue_Skies)

It was a running joke on season one that Kevin’s fantasy teams were secretly piloted by his much more football-savvy wife, Jenny. When season two began, it became clear to everyone that she was the real brains of the operation. Despite not even being a league member, Jenny’s eagerness and deep understanding of football were just about the only thing sparing her husband’s teams from embarrassing mediocrity.

Naturally, Kevin didn’t go out of his way to make this any more obvious than it already was. But in real life, few of us ever succeed totally on our own. Though it’s important to be as self-reliant as possible, most receive some form of help along the way and it is only graceful to acknowledge the people who assist us on our financial journeys.