Micawber’s Favorites – May 27, 2017

Here are links to several of my favorite recent personal finance articles:

Learning About Money from Mr. & Mrs. Miser by The Money Wizard at My Money Wizard

I really enjoyed getting to know Mr. & Mrs. Miser in this article and I loved the plot twist at the end of the story. It turns out I knew these people well at one time, although they moved to a distant place where I can’t visit right now many years ago. It will be well worth your time to get to know them too.

Get the Big Things Right by The Humble Buck

I recently wrote a post where I looked at money clichés and found that some of them contradict each other. For example, “You get what you pay for” and “The best things in life are free.” And, “Small leaks sink ships” and “Don’t be penny wise and pound foolish.” Concerning this one, the writer at The Humble Buck makes a good argument that avoiding being penny wise and pound foolish is far more important than patching every small leak. They argue that if you get three big things right you can survive a few small leaks. What are the three big things? Click on the link above to find out.

How to Grow the Value of Your Career by 50% by ESI at Esi Money

What is the most powerful way you can increase your earning potential? This article shares Warren Buffett’s answer to that question. Hint: it will probably make you a little uncomfortable, which is usually a good sign that you are on the right track.

Hope: The Most Valuable Commodity by Femme Frugality

This powerful article argues that hope and opportunity are much more important than money in eliminating poverty. I completely agree. Where there is hope anything is possible and without hope every road looks like a dead-end. That is why I believe any program focused on helping the poor, whether government or private, should focus not just on providing the necessities of life, but on providing hope and opportunity.

Rockstar Review: EARN Starter Savings Program by J. Money at Rockstar Finance

Speaking of hope, the EARN Starter Savings Program offers some for people struggling to establish the savings habit and build an emergency fund. If you earn less than 80% of the median income in your area, and save at least $20 dollars per month for 6 months, they will add $10 per month to your savings. While this isn’t a ton of money it is a boost of both hope and cash if you struggle to save. Most importantly, it helps to establish the saving habit. I love this idea.  Here is a review of the program by Rockstar Finance.