Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th, 2011

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Welcome personal finance fans to the 22nd (can you believe we’re on the 22nd edition already?! I remember when Crystal started this thing!) edition of the Totally Money Blog Carnivala weekly carnival that includes the top personal finance and money posts.


Before getting started, I wanted to congratulate FruGal and Miss Moneypenniless at TotallyMoney.com on becoming the new owners of the Carnival. It will be exciting to continue to see the Totally Money Blog Carnival grow.


In honor of June being a big wedding month (after brides and grooms graduated from college and high school in May), I figured it might be interesting to share some stats about the most wild, expensive, out-of-this-world weddings that I could find! You can read these random tidbits in red text interspersed throughout the articles.

Listed below are the top 3 articles of this week’s submissions!


Top 3 Editor’s Picks

1. Mike Piper presents It’s All One Portfolio posted at The Oblivious Investor, saying, “One of the most common investing mistakes is holding the same asset allocation in each account (IRA, 401(k), etc.), even if doing so results in higher costs, complexity, and taxes.”


These days, many of us operate our investing strategy through the use of multiple account types (401k’s, IRAs, annuities, taxable accounts, etc). This article by Mike Piper gives us a good reminder that it is most efficient and also least expensive to use the accounts to maintain one overall asset allocation. Just remember to place the different asset classes in their most tax-efficient location


Also, an interesting side note is that Mike’s site was recently mentioned as a very high quality investing blog to read by Money Magazine. This is truly quite an honor! Congrats Mike!

2. 
The Saved Quarter presents Cut Your Budget: Erin posted at The Saved Quarter, saying, “See how Penny from The Saved Quarter helped Erin fit her real life into her budget, giving her ideas to be debt free and with a full emergency fund in two short years!”

Penny from The Saved Quarter has started doing a great thing by reaching out to her readers and seeing if she can help them optimize their monthly budget. In this post, one of her readers, Erin, lays out her current budget, and then Penny uses her expertise to recommend ways for Erin to cut her entertainment and food expenses so that she can pay herself first and pay off her debts quicker. Rock n’ roll Erin and Penny!

3. Investor Junkie presents Why I Never Trust Economists or Weathermen posted at Investor Junkie, saying, “If I had the chance to start my career path all over again, I would choose to be either an economist or a weatherman. What other field could you be in where you are wrong most of the time, and still get to keep your job?”

In this post, Investor Junkie broaches the question of how it is that society allows weather and economic forecasters (and I’ll add one of my own – individual stock advisors/managers) to continue to be paid for doing a job where they are wrong a significant amount of the time. I’ve definitely wondered this same question throughout the years, especially when I was reading in a finance book that economists only officially admit when a recession started after that start date has passed. What a great help that is!!! The occurrence of events like these only reaffirms my faith in index investing.

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5th Most Expensive Wedding - Chelsea Clinton and Marc Mezvinsky


This 2010 wedding cost a measly $5 million.  Key spending items were $600,000 for A/C’d tents for the guests (you can’t be sweating after all!) and an $11,000 cake. What’s funny is that one of my friends from high school had a $5,000 wedding cake and wasn’t nearly this rich.
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Listed below are the best of the rest of the submissions. Enjoy!


Budgeting

Andrew Boyd presents 10 Best Personal Financial Planning Tools posted at The Credit Letter, saying, “With a range of financial planning tools available online, it’s now easier than ever manage your money.”

Jason Price presents How to Budget with the Envelope System posted at One Money Design, saying, “How to make the most of budgeting with the envelope system!”

Careers

Miss Moneypenniless presents Surviving Unpaid Internships posted at FruGal, saying, “New Totally Money author Alex Varley Winter imparts her secret tips on coping financially and emotionally while trying to get a foot through the door.”

Gerry Sandis presents Youth May Find It Hard To Find A Job This Summer posted at RESUMEMag, saying, “There may not be enough funding for summer-jobs programs, but that doesn’t mean you shouldn’t still hit the pavement looking for your own summer job. Here are some tips to help you find some gainful employment this summer”

Lahesha Williams presents Using Social Media to Market your Small Business Effectively posted at Career Help For Christians, saying, “Marketing is an essential element of every business and can be the key to the success or failure of the business.”

Credit

Bob presents The Debit Card vs. The Credit Card posted at Christian Personal Finance.

Tim Chen presents The Walmart MoneyCard: Just Another Prepaid Debit Card to Avoid posted at NerdWallet Blog – Credit Card Watch, saying, “The Walmart MoneyCard is just one aspect of the superstore’s expansion into the financial arena: it also offers check cashing, bill payments, money orders and tax prep, among others.”

Juan Haffer presents The Best Travel Credit Card posted at Blue Sauger.com, saying, “This post shows how to find a good credit card for overseas use.”

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4th Most Expensive Wedding - Wayne Rooney and Coleen McLoughlin

The bill for this one was only $8 million. It didn’t take much money to fly 65 guests to Genoa for a party on a $125 million yacht. Just your average wedding….
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Debt

Briana Ford presents Starting a Debt Snowball posted at 20 and Engaged.

Justin presents Why You Should Stop Paying Down Your Debt posted at Money is the Root.

Finance

Maxim Kazawy presents 5 Best Dividend Paying Mutual Funds with High Income posted at Best Dividend Mutual Funds, saying, “Dividends provide an instant cash flow return on your investment and also act as a downside protector in bear markets. Also, the US stock markets have lost 2% annualized over the last 10 years. If you were invested in dividend paying mutual funds during this time, you would probably have made 5% compounded annual gains. In this article, we will go over 10 best mutual funds that pay dividends.”

Joe Morgan presents Notice of Mortgage Protection Insurance, a Scam. posted at Simple Debt-Free Finance, saying, “Is Mortgage Protection Insurance a good idea? I don’t think so, and here’s why.”

Matt Mason presents What Is The Best Investment? posted at FYMO Personal Finance Blog.

Financial Uproar presents My Updated Investment Strategy posted at Financial Uproar, saying, “My updated investment strategy, and how it combines active and passive investing.”

Alexander presents The Dividend Growth Model posted at Dividend Stocks, saying, “This stock valuation model takes a look at divided growth and uses it to help you decide whether or not the investment is a good buy.”

Sun presents What Makes A Good Checking Account posted at The Sun’s Financial Diary.

Crystal presents Craigslist – Garage Sale Leftovers posted at Budgeting In the Fun Stuff.

Frugality

Philip presents Find the Cheapest Gas In Your Zip Code posted at PT Money: Personal Finance.

Glen presents Take Advantage of Free 2011 Reading Programs During the Summer posted at Parenting Family Money.

Aaron Elder presents Frugal Fail: Renting your cable modem is harmful to your wallet posted at Below Your Means: Living well by living within and growing your means.

retirebyforty presents Groupon VS Google Offers posted at retireby40.org, saying, “Groupon is about to face it’s biggest challenge yet – the 800-lb gorilla named Google Offers.”

Courtney Sperlazza presents When expensive is frugal: a stroller story posted at Well Wise Happy.

Tim Fraticelli presents Negotiating Anything posted at Faith and Finance, saying, “Negotiating doesn’t have to be scary. These tips will help you in almost any negotiation – from salary, to car purchases and garage sales. Negotiation is a skill that can be improved IF you practice.”

Anna presents What are Grocery Ecoupons? posted at Think ‘n Save, saying, “Paperless grocery coupons, or ecoupons, are becoming more common. We show you how to find and load this type of coupon.”

The Amateur Financier presents Frugal Friday – Medicine posted at The Amateur Financier, saying, “A guide to saving on medicine, something we all need (and all too many of us spend too much money on)”

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3rd Most Expensive Wedding - Prince William and Kate Middleton

This wedding is estimated to have cost around $34 million. Most of the money was spent on security for all of the VIPs. However, they saved a little bit to pay for $800,000 in flowers and an $80,000 cake. Take that Chelsea Clinton with your cheapskate $11,000 cake! Go back to America and try again another day.
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Money Management

Tom Drake presents Focus on the Big Things posted at Canadian Finance Blog.

Outlaw presents Online Stock Broker Comparison for Do-It-Yourself Investing posted at Outlaw Finance: Investing Blog.

Boomer presents When To Fire Your Investment Manager posted at Boomer & Echo, saying, “You should hire a manager only after careful research and thoughtful deliberation. The decision to fire a manager should be made in exactly the same way.”

My Journey presents June 2011 Net Worth Update posted at My Journey to Millions, saying, “From May 2, 2011 to June 1, 2011 my net worth has increased 8.69%. From January 18, 2011 to June 1,2011 my net worth has increased 33.36%”

FMF presents Seven Keys to Get Up, Get Speaking, and Get Paid posted at Free Money Finance.

MoneyCone presents 10 Questions To Ask Your Bank Before You Open An Account posted at Money Cone, saying, “Fine prints, who reads them right? At least until you are hit with fees for violating some rule buried in fine prints!”

Hunter presents Financial Secrets Are Cheating posted at Financially Consumed, saying, “Poor communication between couples is often cited as a leading cause of stress and break-up. Keeping financial secrets in a relationship, for any reason, is deceptive behavior and can only lead to a loss of trust.”

Dr. Dean presents A New Credit Temptation! posted at Dr. Dean’s TheMillionaireNurse.com Blog.

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2nd Most Expensive Wedding - Vanisha Mittal and Amit Bhatia

There’s an old adage that states that when steel tycon billionaires and investment bankers get together, good things happen! Well, that’s exactly what happened here. This 2005 wedding cost $60 million.  Key spending items included paying to rent out Versailles (that’s that little palace outside of Paris) and send out invitations in silver boxes. Why not right?!
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Other

Andy presents Health Insurance and Health Care Costs Are Crazy posted at Tight Fisted Miser, saying, “I have written before about the crazy cost of health care but a recent experience has inspired me to write about it again.”

liverealnow presents Money Problems: Insurance posted at Live Real, Now, saying, “Do you know what kind of insurance you need and how much to get?”

Ken presents Home Business Start-Up: Obtaining Business License and Permits posted at Spruce Up Your Finances, saying, “Starting a business is not as easy as just thinking of a business concept and opening your doors to the customers immediately. Before you can start conducting your business, there are a few things that you have to do such as obtaining the required business license and permits”

Neal Frankle presents How I Got My Free Credit Score Online With No Credit Card posted at Wealth Pilgrim: Money Management Advice, Financial Stess Management, Addiction Recovery Plan & Resources, saying, “If you want to get your credit score for free online, you can do so without using your credit card.”
Teacher Man presents Investing Series ? Stocks (Part 1) posted at My University Money, saying, “Part One of the stocks portion of our investing series. We talk about what stocks are, and why they will never fail.”
Pinyo presents How to Review and Update Your Homeowners Insurance posted at Moolanomy, saying, “Many people neglect to update their homeowners insurance policies as time goes on. Here are two insurance factors you must review periodically to avoid being underinsured when disaster strikes.”

Real Estate

Barb Friedberg presents HOW TO CAPITALIZE ON THIS ECONOMY posted at Barbara Friedberg Personal Finance, saying, “With interest rates at all time lows, maybe now is the time to take out a mortgage, or finance a rental property or business endeavor.”

Jennifer Martin presents 5 Tips to Negotiating to Buy a House posted at The Negotiation Board, saying, “Take advantage of this extreme home buyer’s market and learn how to expertly negotiate the purchase of your next home with these five strategic tips.”

Saving

Melissa Batai presents My Unusual Savings Plans – Save $5 Bills and Change posted at Mom’s Plans, saying, “Now that my husband has a full-time job and I am bringing in more money, I expect that we will be able to meet our monthly obligations, but there isn’t much room for extra savings. So, I have decided on this unusual savings plan: All change will go in a jar and be saved for a new car. All $5 bills will be saved for a down payment on a house.”

Buck Inspire presents Auto Insurance Shopping posted at Buck Inspire.

Jim Yih presents Saving for retirement is simple, not easy posted at Retire Happy Blog, saying, “Saving for retirement is simple, but not easy. Although saving rates are low, Canadians can utilize some key strategies to save for retirement.”

Control Your Cash presents Index Funds Don’t Work in Bear Markets posted at Control Your Cash: Making Money Make Sense, saying, “We tell ourselves that index funds always work even though there is a voice of common sense within each of us that tells us that it cannot possibly be so. How could there ever be an asset class that is worth buying at any price?”

Spending

Glen Craig presents Google Wallet and the New Wave of Paying for Things posted at Free From Broke.

Money Beagle presents Missed Opportunities At The Gas Pump posted at Money Beagle, saying, “What gas price situation bugs you the most?”

Kevin presents Don’t Get Fooled: High Pressure Marketing Tactics posted at Invest It Wisely, saying, “Remember to take your time and look at the fundamentals before committing to any big decisions. If the deal really is that great, then why would the salesperson have to try so hard to sell it? In the end, examine the fundamentals, look at the numbers, and, just like with women in the bedroom, make sure the salesperson understands that ‘no’ means no.”

South County Girl presents A trip to Michaels… =) posted at South County Girl, saying, “How my bridesmaid and I saved a ton of money making our own hair accessories for me and my bridal party for my wedding instead of paying $49-$100 per flower clip from David’s Bridal.”

Fred Lee presents Unique Father’s Day Gifts That Don’t Break The Bank posted at Parenting Squad, saying, “Don’t cave to simplicity. If you’re looking for unique, inexpensive, or even free ways to show dad he’s the prince of papas, consider these ideas.”

Tom presents Having a Baby on a Budget posted at StupidCents, saying, “Having a baby on a budget will change your finances forever. Budgeting for a baby is something I want to be prepared for when the time comes.”

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No. 1 Most Expensive Wedding - Prince Charles and Lady Diana

When adjusted for inflation, this 1981 wedding cost $110 million. Not bad right?! My favorite part about this one was the cake. It took 14 weeks to prepare, and there was a backup cake, just in case an accident occurred with the first! Nice! 
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Taxes

Odysseas presents Not Even the Unemployed are Exempt Come Tax Time posted at Wallet Blog, saying, “If you’ve recently lost your job, you’ll be frustrated to find out that you still have to pay taxes on your unemployment benefits — but I have a few tips on how you can lessen this burden on your financial situation.”

Well – that concludes this week’s edition of the Totally Money Blog Carnival. Submit your blog articles to next week’s edition (scheduled for June 13th) using the handy carnival submission form. SpruceUpYourFinances.com will be the host. Get excited!

Also, if you are interested in hosting an upcoming edition of the Carnival, take a quick look at the hosting requirements, and then contact Budgeting in the Fun Stuff about arranging a hosting date.

    ***Photo courtesy of http://www.lehmannmansion.com/uploads/dd/04/dd047d68df946ca2ef6b16fccf947902/from-Mary-Hill-BethMarkCar-in-Front.JPG
    ***Wedding stats sourced from http://www.businessinsider.com/most-expensive-weddings-2010-7#1-prince-charles-and-lady-diana-12

    Comments

    1. Big thanks for the mention! So excited about becoming the new owners of the wonderful Totally Money Carnival!

      • My pleasure Miss Moneypenniless! Great to have your support on the carnival!
        My recent post Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th- 2011

    2. If my wife and I renew our vows we are definitely going in for a cake that costs at least $20k. I mean, it's the cake that people remember, right?

      Thanks for hosting!
      My recent post Starwood Preferred GuestR Credit Card from American Express Review

      • I couldn't agree more. A 20k wedding cake is the bare minimum for guests to be happy!
        My recent post Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th- 2011

    3. That is one big carnival! Thanks much for the inclusion!
      My recent post If You Bank Online- You Need To Do This- Pronto!

      • Thanks for stopping by MoneyCone – this carnival is getting quite big! Crystal has done a good job growing it!
        My recent post Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th- 2011

    4. Wow, this is a massive Carnival. Thanks for putting it together Jacob, and thank you for the inclusion.

      Have a great ride in the MS150 this weekend. I hope you were able to reach your fundraising goal for this worthy cause. Be safe.

      • Thanks Hunter! I actually just went over my fundraising target last week, thanks to some company matches!
        My recent post Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th- 2011

    5. Thanks for the inclusion. Lotta work goin on here!
      My recent post The Debt Ceiling Controversy- Why You Should Care!

      • No problem Dr. Dean – thanks for submitting your post as well.
        My recent post Totally Money Blog Carnival – Most Expensive Weddings Edition – June 6th- 2011

    6. Lahesha says:

      Great posts included, and thank you very much for listing mine among them all! Can't wait to read them all during the week!
      My recent post Career Tips Blog Carnival 7

    7. Thanks for including my post
      My recent post Home Business Start-up- Tax Payment Issues

    8. Thank you for the fun theme and for hosting. Lots of great articles here.
      My recent post 5 Cashback on Groceries and Drug Stores in June–Discover Card

    9. Jacob, Awesome job, as usual. I've got my reading cut out for me :)

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