Last Thursday’s market crash will be another one for the history books. To say the markets took a wild swing on May 6, 2010 is a bit of an understatement.

To celebrate the Carnival of Personal Finance, we’ll take a look at some interesting pieces of the puzzle as well as some fun videos from real time on Thursday.

In case you missed the crash, here’s a glimpse into what happened on Thursday afternoon:

Editor’s Picks

As selected by my wonderful editorial assistant Kate!

FIRE Finance from FIRE Finance presents Early Retirement Case Study – Sandy Aldridge and Dale Lugenbehl, and says, “.. Sandy Aldridge and Dale Lugenbehl who retired early (at ages 48 and 47 respectively) more than a dozen years ago to their eight-acre farm in Cottage Grove, Oregon. Though they did not have high paying jobs, their conscious choice and laser focus on leading a simple life with meaningful pursuits in a harmonious relationship with nature allowed them to kick the rat race early. Their philosophy was “living more simply so that others may simply live.””

Enough said! Who doesn’t gain inspiration from reading a story about early retirement?

Jeff Rose from Good Financial Cents presents Choosing Between 30 Year Mortgage Rate Vs. 15 Year Mortgage Rates, and says, “What is the true cost of home ownership? A closer look at which is best between a 30 year fixed mortgage rate or a 15 year fixed mortgage rate….”

Jeff does a great job of running through the numbers and showing just how much money a 15-year mortgage can save you. Numbers don’t lie!

Barb Friedberg from BarbaraFriedbergPersonalFinance presents Ten Steps you Must Take before Beginning and Investing Program, and says, “Must read for anyone considering investing. Easy to read, step by step guide!”

This is a great read for anyone looking to start investing. Don’t jump the gun – there are other things you need to get in line first.

Eric from Narrow Bridge Adventures presents What I Learned at the Berkshire Hathaway Meeting, and says, “I spent a day with Warren Buffet and Charlie Munger at the Berkshire Hathaway annual shareholders meeting.” This is a recap of what he learned at the event.

This post was a cool insight into one of the premier investing gatherings.

The Financial Blogger from The Financial Blogger presents I Just Sold My Blog!, and says, “So why am I selling? I actually need money to fund other projects within my online company. I didn’t expect to sell this year, in fact it wasn’t in my plan at all. I really like my blog and I didn’t want to sell it. However, when you have a good offer on the table, you should consider every single option. Sometimes, the best time to sell is when you don’t want to.”

This post had some interesting news but TFB is right – you always have to consider all of the options.

Temporarily, $1 trillion in market value disappeared, according to the Wall Street Journal.

Investing

Sun from The Sun’s Financial Diary presents Withdraw Money from Brokerage Account.

ctreit from MoneyObedience presents Save money or how Grace became a millionaire. , and says, “A small investment can make a big difference in the long run.”

ElizabethG (Modern Gal) from Modern Gal presents Avoiding Investment Traps.

Michael Pruser from The Dough Roller presents What is a Stock Market?, and says, “Starting from the beginning is the best way to understand the intricacies of stock trading.”

D4L from Dividends Value presents 20 Dividend Stocks With A 20% Yield In 20 Years, and says, “There are income investors and Dividend Growth investors. While the distinction is rather simple, it slips past many casual observers. Income investors are investing for maximum current income, while dividend growth investors are looking to maximize income over an extended period of time — usually sacrificing current income for potential greater future earnings.”

A fun video during the crash on Thursday. It gets entertaining about a minute in.

Tom @ Canadian Finance Blog from Canadian Finance Blog presents Tax Refund – Will You Invest It?, and says, “Invest your tax refund with six tax efficient ideas for building wealth.”

FT from Million Dollar Journey presents Owning a REIT vs Owning Rental Real Estate, a comparison of owning rental real estate to owning REIT’s.

Arjun Rudra from Investing Thesis: Credits Toward Financial Freedom presents A Primer On Investing In Mortgage Investment Corporations (MICs) In Canada, and says, “Not much is known about Mortgage Investment Corporations (MICs) owing to the fact that most of them private companies. This article will give you a primer on investing in MICs and show you how you can earn potential returns of between 7% and 12% annually.”

Mike Piper from The Oblivious Investor presents Successful Trading Techniques, and says, “Just because you need the market to earn a given return doesn’t mean it will. The market doesn’t care about you.”

Brad from Learn Save Invest presents Quotes From Warren Buffett Shareholder Letters and how they teach you to become rich.”

Clint from Accumulating Money presents Forex Trading Strategies

E from Save, Invest, Live presents “Buy and Hold” is Immortal, and says, “This post is a response to the financial pundits who have declared the investing method of ‘buy and hold’ dead.”

PT from PT Money presents Can I Have a Joint IRA Account?, and says, “It’s not called an individual retirement arrangement for nothing. You can’t have a joint IRA.” He explains why and shares some IRA basics in this post.”

If you’ve been wondering about the differences between index funds and ETFs, here’s a big difference:

VTI VGTSX

Debt

Miss Bankrupt from Miss Bankrupt presents Happy Mothers Day Mom From Your Broke Daughter.

Len from Len Penzo dot Com presents 12 Good Reasons Why You Should (and Should Not) Pay Off Your Mortgage Early.

The Smarter Wallet from The Smarter Wallet presents LendingTree Review: An Online Lending & Mortgage Service

Jessica Bosari from Billeater.com presents The Dangers of Payday Loans and How to Escape the Trap, and says, “This article explains what payday loans are, why you should never use them and what to do if it’s too late and you are stuck in one.”

Jamie from Eventual Millionaire presents Become Debt Free Rule #1.

It was the biggest one-day point decline (998.5 points) on an intraday basis in Dow Jones Industrial Average history per CNN.

Saving

Ron from The Wisdom Journal presents Savings and Savings Accounts 101, and says, “Learning the basics of a savings account will help you reap dividends far into the future, but do you know WHY you’re saving?”

Adam from Magical Penny presents Save Early, Save Often, and says, “Google does it. IBM does it. In fact many successful businesses owe their success to it. It is the mantra: “Release Early…Release Often” Google didn’t build their vast indexes overnight. The same idea can be applied to savings. ”

Lucia @ moneyStrands from moneyStrands’ Money Matters blog presents Tips for planning your summer vacation on a budget.

During the crash, I was locked out of our Schwab account, as were many investors at various brokers. It sounds like Scottrade help up perfectly according to a Fatwallet discussion.

Credit

David from Credit Card Offers IQ presents Debit vs. Credit–Which is Right for You?, and says, “Tips on deciding whether to use debit or credit.”

Mr. Credit Card from Ask Mr. Credit Card presents Apple MacBook Pro 15 Inch How Many Reward Points Do You Need.

Jim from Bargaineering presents Low Interest Credit Cards.

Silicon Valley Blogger from The Digerati Life presents Easy Credit Card Management Tips, and says, “Some tips on handling credit cards and credit card debt.”

Jim from Wanderlust Journey presents All About Credit Card Foreign Transaction Fees.

Cecil Dellision from Clear Choice Credit Card Carnival presents Credit Card Laws: Have You Noticed the Changes?.

Darren from MORE than Finances presents Free Credit Score From Credit Karma, and says, “People who want to check their credit score usually have to pay money for this service. Credit Karma, however, lets you see your approximate score for free.”

Tim Chen from NerdWallet Credit Card Watch presents Online Credit Card Information Kinda Sucks, and says, “We look at credit card sites, and credit card advice from personal finance publications to show why you have to be careful when looking for a card online. Then we revise their suggestions with better cards, and show which tools and info will truly help find the right card for you.”

Laura Adams from Dinks Finance presents 10 Tips to Raise Your Credit Score, and says, “A question that seems to come up more often these days is how to increase your credit score. Especially how to do it fast! Here are 10 ways to get your score on track.”

The stocks of eight major companies in the S&P 500 fell to one cent per share for a short time, according to Wikipedia.

Career

Craig Ford from Money Help For Christians presents How to Start A Summer Business for Teens, and says, “This step by step guide shares tips on starting a summer business.”

Daniel from Sweating The Big Stuff presents Student Loan Follow-Up: Switching Careers, and says, “Jamie from Eventual Millionnaire guest posts and asks the question: If You Switch Careers, Are Student Loans Worth It?”

Revanche from A Gai Shan Life presents Employment: The First Month.

MD from Studenomics presents Career/Personal Finance Advice For College Graduates, and says, “Some of the top pf bloggers chime in with their thoughts for life after college.”

For comparison, Black Monday on October 19, 1987, the Dow Jones dropped by 508 points (22.61%).

Money Management

Craig/FFB from Free From Broke presents How Much Life Insurance Should You Buy?, and says, “Considerations to take into account when you plan how much life insurance you need.”

Panda Mike from Green Panda Treehouse presents Pay Off Your Mortgage or Invest Your Money?, and says, “I think you are better off investing your money than increasing your mortgage payments. Yup! I am not part of those anti-debt group. I think debt is really good for you. However, you better know how to manage your personal finances and get control over your debt to create wealth with your money.”

Squirrelers from Squirrelers presents A Dollar Today > A Dollar Tomorrow, and says, “Article illustrating the time value of money”

Brad Chaffee from Enemy of Debt presents Buy I’m Debt Free the Game, and Help Support Big Brothers Big Sisters, and says, “Helping people have fun while becoming debt free as well as helping the youth in need of a mentor by donating 100% of my commission to Big Brother Big Sisters organization.”

Frugal Dad from Frugal Dad presents 44 Ways to Ruin Your Financial Life By Age 30.

David from Money Under 30 presents For Grads: Four Money Facts Worth Knowing, and says, “The world is full of advice for new college grads and, as I know from experience, most of it goes in one ear and out the other. But for any new grads that are reading…consider these four tidbits. They have the potential to put you way, way ahead of the game when it comes to your money.”

Connie Prater from Taking Charge presents Managing teens’ money in modern times, and says, “This was a guest blog written for the National Foundation for Credit Counseling’s financial education blog. Worth a read for parents with teenagers.”

RJ Weiss from Gen Y Wealth presents 11 Easy Tips to Achieve Financial Independence, and says, “The ultimate goal of personal finance is to become financially independent. It takes hard work to get there, but anyone can do it with these 11 tips.”

Big Spender from Debtbeat presents White Lies Can Put You in the Black

296 stocks’ trades were canceled. 3 days later, 12 more were added to the canceled list.

And More

Andy from Saving to Invest presents 10 Awesome Google Search Tips and Tricks to Improve Your Finances, Investing and Productivity Knowledge, and says, “Google plays a big part in my life and my blogging business. Apart from it’s Adsense publisher program which provides the bulk of this blog’s income, Google’s search engine provides the basis and background for a number of the topics that I write about.”

Henry Stern, LUTCF, CBC from InsureBlog presents May is National Disability Income Awareness Month, and says, “If you work for a living, you should consider insuring that income. InsureBlog has details about National Disability Income Awareness Month.”

Money Beagle from Money Beagle presents How Much Did I Spend On That Again?.

Olivia from Independent Beginnings presents Ten Ways to Save Money on Gardening, and says, “Check out this ten tips for saving money on your vegetable garden!”

Austin Morgan from Foreigner’s Finances presents What’s a Routing Number?, and says, “We hear this word thrown around a lot, but what really is the purpose and history of that 9 digit number on your checks?”

Paul Williams from Provident Planning presents Should I Give to Everyone Who Asks?, and says, “Jesus said we should give to everyone who asks of us. Does that mean we must give to every charity that calls us? Or that we should give money to people who want to fuel an addiction?”

Another fun video during the crash. Watch his reaction to the price of P&G during the crash.

Carmen from GoBankingRates presents The Freedom of a Budget, and says, “Budget. The very word puts dread into the hearts of some individuals. A budget is so restricting. I dont want to be that tight with my money. Theres no freedom in budgeting. Those are all reasons people dont want to budget.

2 Cents from Balance Junkie presents How to Budget Irregular Income, and says, “If you are self-employed or your income is commission-based, you need to budget differently. Here are some strategies to help you plan better.”

J. Money from Budgets Are Sexy presents How Rich ARE You?, and says, “60% of the world makes less than $1,000 a year – we are very blessed to be living in the U.S.! (or Canada. Or Europe, etc)”

Bret from Hope to Prosper presents Day of Reckoning is at Hand, and says, “Governments around the world are finally starting to realize what American consumers discovered a couple of years ago; there is no long-term solution for spending more than your income.”

vh from Funny about Money presents A Degree from a Proprietary School? Is it worth the cost?.

Consumer Boomer from Consumer Boomer presents What Happens If You Have to Delay Your Retirement?, and says, “What happens if 70 becomes the new 65? How does it affect you, the workplace, and your plans for retirement? Are Boomers re-shaping the economy, or is the economy re-shaping them?”

Steve from brip blap presents How to Find Disability Insurance, and says, “Disability insurance is oftern overlooked, but may actually be one of the most important forms of insurances you can buy.”

Helen from Science and Money presents “Piggybanking” — Raising Financially Savvy Kids, and says, “Jeff Opdyke, personal finance writer for the Wall Street Journal, advises us how to raise financially savvy kids. A guidebook full of practical advice written by a caring Dad.”

Sean from Grow Money presents Make Money Ideas and Links #1

Suba from Wealth Informatics – Financial freedom through information! presents Expiry dates for financial documents – How long should I keep my financial documents?, and says, “This article is useful in tidying up your financial house. It addresses the question of how long to keep various financial documents before they can be thrown out to reduce clutter.”

mbhunter from Mighty Bargain Hunter presents A six-pack of reasons not to buy in bulk, and says, “Buying in bulk isn’t always the way to go. Here’s why.”

Ben from Money Smart Life presents How to Prepare Your House to Sell for More.

Jeremy from Generation X Finance presents How to Find the Best Car Insurance Policy.

The cause of the crash still remains unexplained. Although there are lots of theories….





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Comments to Carnival of Personal Finance #256: Market Crash Edition

  1. That is a VERY interesting chart of mutual fund vs ETF!

    Thanks for hosting!

    Craig/FFB

  2. yeah, that dip was CRAZY….but crazy good if you invested at the exact time ;)

    Thanks for hosting!

    J. Money

  3. Nice job, Madison!

    Thanks for hosting, and for including our post.

    hgstern

  4. WOW! We are at the top of the Editor’s Picks. That made our day :).

    Thanks for hosting the carnival.Best wishes ahead :).
    Cheers,
    FIRE Finance

    FIRE Finance

  5. Thanks for including my post Madison.

    This is a great carnival theme.

    Hope to Prosper

  6. Great variety of articles. Thanks for putting this together and including me!

    Darren

  7. A fun carnival so thanks for the picks. I particularly enjoyed the youtube clips. The bad thing about this is non-investors will think the market is always this crazy -I hope it doesn’t put people off investing for the long term.

    Adam@Magical Penny

  8. Thanks for posting all these great resources!

    Jenna

  9. Yeah it was a crazy ride last Thursday. A fun theme for the carnival. Thanks a lot for hosting, and for including my post.

    Suba

  10. Great carnival! I love the theme. If this doesn’t warn individuals that investing money is only for long term goals, I don’t know what will!
    Thank you for including me as an editor’s pick!! Best regards, Barb

    Barb Friedberg

  11. Thanks for hosting the carnival and including my article!

    Sun

  12. Thanks for hosting and good picks. I especially liked Jeff’s post on 30 yr vs 15 yr mortgage (even if its pretty basic) and TFB’s post on why he sold another one of his blog, always interesting to read the thought process people take to come to a decision.

    Cap

  13. Nice job hosting and thanks for picking my article. :D

    Brad Chaffee

  14. Nice job Kate, thanks for squeezing mine in under the wire : )

    Ben

  15. Great theme. Thanks for including my post.

    Helen

  16. Haha. I haven’t forgotten that market crash not too long ago. Buy-hold-prayers all probably had a heart attack that night!

    Brilliant theme to host a blog carnival around it. You got my kudos there. ^_^

    Aury (Thunderdrake)


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