Best of Money Carnival # 116 – "Who Dropped a Bomb on the Stock Market?" Edition – August 15th, 2011

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Welcome to the Best of Money Carnival (a weekly listing of the top 10 personal finance posts)– August 15th, 2011 “Who Dropped a Bomb on the Stock Market?” Edition!  

I hope you enjoy all of the posts I’ve selected for this week’s edition – and then come back to visit My Personal Finance Journey on my non-carnival days too.

It was very interesting to see that a good portion (probably 30-40%) of the post submissions this week were either inspired by or focused on the significant drop in the stock market that has occurred over the past week or so. As a passive investor, I was happy to see that most of these posts were advising readers not to panic and hold out while the dip plays out. 

And, being the personal finance nerd I am, the drop in the market by some miracle caused me to think of the insanely awesome 1982 music video/song by the Gap Band called, “You Dropped A Bomb on Me”. Please don’t ask me to explain how I thought of this, just enjoy the attached YouTube video below!  

For this edition, we had 66 articles submitted. Below are my choices for the Top 10 Personal Finance posts of the last couple of weeks (that were submitted properly of course) in order from 1 to 10.  A big congrats to all of this week’s winners!

1. Jim Yih presents The science of building a diversified investment plan posted at the Retire Happy Blog, saying, “The problem with diversification is it has been treated more like an art than a science. For most people, diversification is more about quantity rather than efficiency.”

2. Mike Piper presents Tax-Loss Harvesting posted at Oblivious Investor, saying, “One thing you can do while the market is down: take advantage of tax-loss harvesting opportunities.”

3. Melissa presents How One Family Survived Unemployment, Part One posted at Mom’s Plans, saying, “A true story told in two parts about how a family of 6 survived nearly 18 months of unemployment.”

4. Jeff @ Stay Thrifty presents How I Beat $20,000 In Credit Card Debt posted at Stay Thrifty, saying, “Credit card debt can paralyze your finances and take a real toll on your emotions. When you have a huge balance it can seem hopeless, but I’m living proof that you can get out of debt… and live to tell the tale.”

5. Neal Frankle presents Successful Entrepreneurs – 7 Unconventional Tips To Become One posted at Wealth Pilgrim, saying, “If you own or are thinking of launching or buying an existing business, here are 7 potent and unusual tips to help you reach success much faster.”

6. Darwin presents US Loses Triple A Credit Rating – It’s About Time posted at Darwin’s Money, saying, “Curious which countries have a AAA credit rating now that America doesn’t? I was shocked; I never even heard of some of these countries.”

7. Sarah Minton presents Day 292 – A Letter To My 18-Year-Old Self posted at The $60K Project.

8. Jason Price presents Ask the Readers: Can You Live Well on $40,000 or Less? posted at One Money Design, saying, “You may not think it’s possible, but this family is living very well on less than $40,000 per year.”

9. Money Beagle presents Career Tip: Become An Expert At Something (And It Doesn’t Have To Be Big) posted at Money Beagle, saying, “One thing is sometimes all it takes to separate you from the pack.”

10. Money Cone presents Market Meltdown, What Should You Do? posted at Money Cone, saying, “What should the U.S. investor do now that the market has taken its worst tumble in two years? Here are some options.”

Well, that concludes this week’s Best of Money Edition. To all participants – it was a pleasure reading your articles this week!

Please submit your posts to the next edition of the Best of Money Carnival using the carnival submission form. The next carnival (#117) will be hosted by Pastor Personal Finance and is scheduled for August 22nd, 2011

Also, If you’d like to host a future carnival, send FMF an email asking for a slot.

    ***Photo courtesy of


    1. Much appreciated and humbled to be included in the top 10 list.

      Thanks much Jacob!
      My recent post Market Meltdown, What Should You Do?

    2. Great list, I especially liked #4. I am battling credit card debt too and sometimes I just a reminder of what I should be doing.
      My recent post An Interview With Pro Trader Rudy Leder

    3. Thanks for including me. I think this is my first time being selected to this exclusive club 🙂

    4. Wow! I am honored to not only be part of your great list but right at the top spot!
      My recent post Retire Healthy: The importance of good rest

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