Explanation of the mortgage crisis

To fully understand what caused the tremendous rise in the real estate market and then the subsequent fall, check out this thorough and interesting explanation about what caused it all. It's an hour long, but it's amazing. It's from NPR's This American Life, one of my favorite radio shows. Stream it for free.

Wordle

Wordle is a cool program that creates "word clouds" from the text you enter. The size of the words is represented by the frequency of its use. Below is the entire text of my book in word cloud form (with common articles excluded). I'd say it looks like a fair representation of what the whole book is about: JUST MONEY.




Click on the photo for a closer look.

Another week, another chance for a free book

This time on the heels of a great review from The Money Gardener is your chance to win another free book. That's basically saying you have about a 1 in 50 chance to have the knowledge of a millionaire in the palms of your hands (albeit with numerous dog-earned corners and ring marks from a few beers.) But nevertheless, you have a chance. All it takes is leaving a comment here.

iPhone or Millionaire?

Photoshopped by my collegues Jack and Steve. They know me too well.

But it's true!

Another chance to get my book for free

Over on finance blogger Clever Dude today through Thursday, you can enter to win a free copy of my book. Just leave a comment on his review of "A Million Bucks by 30", which thankfully, looks to be more than stellar!

Cheap beer blind taste test

I took the opportunity at my friend's July 4th cookout this weekend to make my binge drinking more than about getting drunk. I made it a bit educational too by doing some self-motivated market research on what is the favorite cheap beer amongst the diverse group of Brits and Americans the would be gathering for the event. (I figured spending America's Independence day with a bunch of Red Coats required some sort of distraction from the reason we are having this patriotic celebration.)

I went to the local bodega and bought 12 tallboys of the cheapest beers I could find. Those watered-down beverages ended up being: Modelo, Keystone Ice, Coors, Coors Light, Budweiser, Bud Lite, Miller High Life, Presidente, Busch, Busch Lite, Colt 45, and Pabst Blue Ribbon. I want to know when I'm in a bar with just a dollar or two in my pocket, which discount cold one would taste the best to me. And if I was feeling especially generous, for my friends too.

I poured each beer into a plastic cup assigned a corresponding number matching the can it can from and instructed the party-goers to try each one and identify their favorite adult beverage as well as the worst tasting one. I prayed to the beer gods my palette was distinguished enough to not choose Colt 45, the only malt liquor on the judging table, as my favorite. I've drunk enough beer to know that malt liquor does not make for a great sipping drink. Nor chugging drink. Or really, any drink. I learned that lesson first week of college.

The results of my frugal drinking research were a a bit unexpected. The runaway best-taste winner of the group was surprisingly also the lowest price beer I brought to the party. A 99 cent 24-oz can Coors was the majority favorite. The least liked by the group, Miller High Life. The champagne of beers apparently tasted more like warm champagne than a cold beer. I should mention, by the time I completed the setup, all the beers were indeed extremely warm and also served in cheap plastic cups. A taste test of beers in frosty mugs would most likely result in different winners and losers here, but this was not the most detailed research project to begin with.

Regardless, I was pleased with my personal results. My winner was a tie between Pabst Blue Ribbon and Presidente, both solid go-to orders for me in a crowded bar and a pocket full of change. And thankfully for me, Colt 45 was indeed rated as my worst. The best take-away being I am possibly indeed the connoisseur of beer I think I am. Not a bad way to spend the fourth of July: drunk on cheap booze.

What else to read?

I probably get an email a week from readers asking what else I would recommend reading. I've mentioned it before in a previous post here, which I've updated twice recently, and will continue to update in the future. Have a look at it here and feel free to add your own recommendations in the comments.

A thing I found that worked for me is to try to pull 3 new things from each financial book I read and apply them to my life. Not every book will outline steps that fit in your life, circumstances, or agenda, but if I could pull and apply 3 things from a book that I read, then I found it was worthwhile. And then I just kept reading, reading, and reading. Those 3 things you are applying to your life will keep adding up, and after you put them all in action, you'll have a book to write for yourself. Good luck!