photo credit: Pamela Machado
Welcome to PFI and the weekly updates - The Happy New Year Edition. Today is the last day of 2008 and I have very mixed feelings about the past year. It was the worst year (as probably was for everyone) from my performance in the stock market since I have been an investor. Several of my passive income streams have been harder to push along and grow as a result of the economic recession that we are facing. The auto industry that I have very close ties to almost came to a complete collapse. Companies continue to guide down earnings, slash jobs, and cut costs to stay in business. The housing market continues to drop with no end in sight.
There were also some positive things to come out of the past year which including me finally starting my personal finance blog (PFI) that I have been wanting to do for some time. This blog is a platform for me to create, grow, learn, and communicate my passive income success and failures along the way. I have learned a lot over the past several months and look forward to the upcoming year and the opportunities that are available.
Carnivals
December 28, 2008 - I participated in the Carnival of Personal Finance #185: Cheesehead Edition hosted by the Fraud Files blog. I would like to thank the Fraud Files blog for including my post - Discount Shopping is not always perfect as an editor’s pick!
December 24, 2008 - I participated in the 44th Money Hacks Carnival - The Merry Christmas Edition hosted by Where You Are Now. I would like to thank Where You Are Now for including my post - Finding Auto Loan Rates in a Recession.
December 23, 2008 - I participated in the The 157th Festival of Frugality: The Queen’s Speech Edition hosted by Miss Thrifty. I would like to thank Miss Thrifty for including my post - Frugal Pitfalls of Purchasing Health Foods.
Articles I liked this week
Sticking with the theme, I am listing my favorite articles posted that can help me into the New Year. Here are some of my favorites -
1 - Pinyo at Moolanomy shows us the steps in setting up a Limited Liability Corporation. Several of my longer term goals may require me to eventually setup an LLC so this is a great place to start!
2 - Growing Money gives us a list of lessons learned from being a landlord. While I understand there is a lot of work involved in becoming a landlord, I have a strong interest in pursuing this as another passive income stream.
3 - My Work at Home Mom Blog talks about diversifying your income streams. This is a topic that I feel very strongly about as my family relies on my income alone.
4 - Dividend Growth Investor gives us a list of high yielding stocks for the upcoming year. I always appreciate the insight that Dividend Growth Investor provides and would recommend checking out the site.
5 - Pat from The Smart Passive Income Blog provides some motivation into the new year for creating income streams.
6 - The Passive Dad lists some frugal ideas for food that you can use in the new year.
7 - Amateur Asset Allocator talks about a trend of companies cutting 401k matching contributions. I believe that more and more companies will be making these types of cuts in the new year.
Have an excellent week and Happy New Year!
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Oh you’re welcome! I too hope that 2009 holds better news - for you and for all of us.
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PFI,
Thanks for the link. Good luck in setting up and increasing your income streams.
DGI
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I am also a solo earning parent for my household, so I appreciate this topic. It’s a great feeling to be working on different means of creating income. I look forward to hearing your landlording adventures, as that is something I am also learning about, having purchased our first investment last July, with renters in there currently. We had some nice adventures with rains and flooding once so far this year.
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Steve - This year I will probably be in the investigation stage of owning a rental property. However, I hope to learn a lot and dive in on some really good bargains that I am starting to see. Thanks for stopping by.
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Thanks for the link and Happy New Year!
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