Here are some of the best personal finance and fintech posts from the month of October.
Contents
Credit & Debt
New FICO Model Is Great if You Manage Money Well but Don’t Have Much Credit – Penny Hoarder
First things first…I am not a fan of the way credit scores are measured! Credit scores are important in any free market economic system because they are a measure of how likely someone will pay back any debt that they owe. However, credit scores are largely measured by how much debt you have instead of taking a look at more important factors (in my opinion) such as fewer debts, savings rate and income. China is beginning to roll out an extreme version of this model. The new FICO model will take into consideration these additional factors which is more in line with what a credit score should be. Wallethacks has an article on this new upcoming change as well. And, here is the UltraFICO website if you want to be one of the first to get this new scoring model.
FinTech & Tech
The 8 Major Forces Shaping the Future of the Global Economy – Visual Capitalist
Visual Capitalist lays out the major forces currently occurring in the Global economy. What they call “the evolution of money” which outlines the current state of global debt. Well worth a read!
The Best Conference on Money – The Wealthy Accountant
A great recap on #FinCon18 in Orlando and some good takeaways for any blogger!
Investing
Investment Fees Will Cost You Millions – Physician On Fire
Thankfully, the cost of investing has come down substantially over the last couple of years. And, if you participate in a 401k type plan (pre-tax) it used to be that you only had expensive investment options to choose from – many of these plans now offer an option for a broad-based index fund. This article breaks down the most common investing expenses along with examples of how these fees play out in different individuals’ investment accounts.
Investing Deathmatch: Investing in the Stock Market vs. Just Not – Bitches Get Riches
Just in case you needed more examples of why you should be investing what you save into the market instead of staying out and in cash! Along the same lines …The Psychology of Sitting in Cash Part Deux If you are trying to time the market…you have to be right twice!
Here’s How Different Stock/Bond Allocations Have Performed Since 1926 – Four Pillar Freedom
Well done analysis on how your allocation to stocks and bonds impact both the volatility and return of your investment portfolio.
Passive Income
27 Actionable Passive Income Ideas – Millenial Money
A great list of passive income ideas! Product Testing: How To Get Paid To Test And Keep Free Products – Birds Of A Fire If you always wanted to get free stuff but were never sure how…this is the article for you!
Personal Finance
America’s Growing Financial Literacy Problem – Visual Capitalist
Unfortunately, the results have only grown worse. Hopefully, we can turn this troubling trend around.
Happiness Comes from Striving, Not Arriving – Four Pillar Freedom
Many great takeaways from this article but one of my favorites is “Growing is fun. Having something handed to you is not fun”
Podcasts
Howard Lindzon – Fintech and Trend Following – Invest Like the Best
Great interview with Howard Lindzon and host Patrick O'Shaughnessy on the Invest Like the Best podcast.
The FIRE Movement – DR Podcast
I met Rob Berger at FinCon18 in Orlando and really enjoyed his approach to personal finance and the discussion I had with him on his journey with Dough Roller.
Real Estate
Should Real Estate Investors Get Their Realtor’s License? – RETipster
Are you interested in learning more about real estate? Not sure why real estate agents still after so many years earn a 6% commission despite technology not doing most of the work when it comes to a real estate transaction? This is the article for you!
Saving/Minimalism
A 100-year-old retired airline pilot with $5 million in the bank used a timeless tip to build his fortune – Business Insider
Amazing story from a retired pilot on the key to retirement success – save early!
Lessons learned from 6 years without a car – Mint
We are considering selling a car. If you are in the same boat this article is for you!
Everything I Know About Minimalism I Learned From Zombie Apocalypse – Bitches Get Riches
The always entertaining and informative Bitches Get Riches
Social Security
Maximize My Social Security Software Review – Calculating The Best Time To Bank Your Benefits – DoughRoller
The decision on when is the best time to take social security can be a difficult one. This tool takes the guessing out of this important decision.
Taxes
United States Household Income Brackets and Percentiles in 2018 – DQYDJ
Are you interested to see what tax bracket you fall in? Plus, some other interesting historical facts on tax brackets? Give this a read!
For a look at other amazing content from the personal finance community be sure to check out Rockstar Finance.
To see previous months I have listed the top picks from all months on the top posts page.