Carnival of Money Stories # 90 – Average Incomes Around The Globe – January 24, 2011 Edition

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Welcome to the January 24, 2011 edition of the Carnival of Money Stories, a weekly blog carnival where people share their stories and experiences regarding money.

And come on now! If you are somewhat nosy (like me) and like to be in the know about other people’s business, who doesn’t like stories such as these?!

This week, the carnival had a total of 58 article submissions! In reading/judging the posts, I found that many people misunderstood the intent of the carnival (i.e. I could only publish 22 out of the 58 articles submitted), and DID NOT submit articles containing money stories. In the future, please only submit articles containing stories regarding financial matters. This will make it more straight-forward for future hosts.

The theme of today’s Carnival is the very interesting subject of the differences in the average income of different countries around the globe. All figures are based on data from 2009 from World Bank.

It is very wild to think that there is an $85,000 difference on a per capita basis of Gross National Income between the 1st ranked and last ranked country. 

I hope you enjoy the money stories and the economic tidbits spread throughout, and stop by to say “hi” again on my non-carnival days as well.

Editor’s Top 3 Picks

1. Barb Friedberg presents WEALTH IN LIFE: PATIENCE LEADS TO SUCCESS (Part 2) posted at Barbara Friedberg Personal Finance, saying, “Read a story about how eating marshmallows at age 4 can determine life success and wealth.”

2. The Financial Blogger presents 5 Reasons Why You Need A Partner In Your Business posted at The Financial Blogger, saying, “My story on why a business partner is a great idea.”

3. Jonathan presents My Financial Story posted at Fiscally Fearless, saying, “This article discusses the author’s relationship with money through his life.”
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Gross National Income Per Capita

  • # 1 = Norway @ 85,000 US$
  • # 8 = United States @ 46,000 US$
  • # 16 = Canada @ 42,000 US$

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Business

Craig Ford presents Introducing the PNG Small Business Start Up Loan Program posted at Money Help For Christians, saying, “My story about how we started a small business loan program.”


Career

MD presents Why You Should Start With Freelancing Right Now posted at Passive Income Now, saying, “Why you should start freelancing now to increase your income – what you can learn from my own experiences.”

Mrs. Accountability presents, How the 2011 Tax Changes Affected My Take Home Pay, posted at Out of Debt Again.


Credit

Sustainable PF presents My Journey to the Best Canadian Rewards Credit Card posted at Sustainable Personal Finance, saying, “It took many years but I finally feel I have control over my credit card selection and I surely enjoy the credit card company paying ME!”

Mr. Cents presents Money Story: The Finger of Blame? posted at Personal Cents.


Debt

Kaye presents What We Will One Day Do With Our Money posted at Mrs Nespy’s World, saying, “I cannot wait until we own our money. This is what we will do with it.”

MoneyThinking presents Oh Student Loans, How I Dispise Thee.. posted at Money Thinking.


Investing

Madison DuPaix presents Investing in Tax Lien Certificates and Tax Deeds posted at My Dollar Plan, saying, “Follow me on my journey as I find out about more about this interesting investing option.”

Silicon Valley Blogger presents Should You Cash Out of Your Retirement Savings Plan? posted at The Digerati Life, saying, “My thoughts on borrowing or cashing out of one’s retirement account to use the money for various purposes.”
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Gross National Income Per Capita

  • Japan – 38,000 US$
  • Chile – 9,470 US$
  • Mexico – $9,000 US$ 

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Net Worth

Darwin presents Present Value of Money Explained – MBA Monday posted at Darwin’s Money, saying, “One of the most important financial concepts is also one of the most misunderstood. Make sure you understand the Present value of Money – with these real life examples. It will save you thousands!”


Other

FMF presents How Not to Retire posted at Free Money Finance, saying, “Here’s how NOT to manage your resources for retirement.”

Pat @ DNW presents 12 Meaningless Time Eaters in Your Day posted at Experiments in Finance, saying, “A funny look at how time is often wasted in any given day for me.”

PT presents How to Stop Spending Money posted at Prime Time Money, saying, “Is mindless spending derailing your financial goals? Put your budget on a diet with this tip.”

Tiffany Merritt presents An Honest Talk About Finances (Vlog! Please watch!) posted at Stuff Parents Need, saying, “This vlog is about my husband and I creating a budget for the first time in our 8 year marriage.”

Michael presents Zions Bank Online Savings Account Review posted at Consumerism Commentary.

Moneywalks presents Eating out is for broke people posted at moneywalks.

Tom @ Canadian Finance Blog presents New Years resolutions: Financial Resolutions posted at The Canadian Finance Blog, saying, “My wife and I have started to make New Years resolutions, or more specifically financial resolutions, to focus our efforts together for the next year.”
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Gross National Income Per Capita

  • Iraq – 2,200 US$
  • India – 1,180 US$
  • Congo & Burundi – 150-160 US$ (lowest on list)

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Shopping

MD presents Jersey Shore Life: The True Cost of GTL posted at studenomics.com, saying, “A fun look at the money that you would need to spend to GTL.”

Daniel presents Is this Being Frugal, Cheap, or Stealing? posted at Sweating The Big Stuff.

Well – that concludes this week’s edition.

Be sure to submit your best money story articles for inclusion in next week’s Carnival of Money Stories, which will be featured by our friends over at Miss Thrifty. You can submit your blog article to the next edition by using the handy dandy carnival submission form provided by BlogCarnival.

Also, if you are interested in hosting an upcoming edition of the Carnival of Money Stories, you can read the hosting requirements and submit your request at the following link.

***Photo courtesy of http://modernsynthesis.files.wordpress.com/2009/06/800px-ukrainian_salary_map.png?w=720&h=503

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