Carnival of Wealth, Woolly Mammoth Edition


No wonder they went extinct, their eyes were too small to see predators. Wait, what preys on a mammoth?

No wonder they went extinct, their eyes were too small to see predators. Wait, what preys on a mammoth?


Here’s our mind-blowing fact of the day. Mammoths were still roaming the Earth while the Pyramids were being built. Specifically, the mammoths lived in a couple of Arctic islands that aren’t even close to each other: St. Paul Island in Alaska’s Pribilof chain, and Wrangel Island in Russia’s Chukchi Sea. The latter island is not to be confused with Wrangell Island, which is adjacent to the Alaskan panhandle and is home to nothing bigger than moose. Both islands are named after Ferdinand von Wrangel, chairman of the Russian-American Company. He’s as extinct as mammoths. Ave atque vale, and onto the Carnival.

We referenced our own car-buying strategy in last week’s CoW (the full version is here.) Andrew at 101 Centavos offers his version, with plenty of flavor and admonition. For buyers of used cars he offers a smart suggestion that we never thought of, which is to offer the prospect of working on said car to your local shop in exchange for a reduced-price inspection.

Tony Robbins was the first one to bring this to our attention, but the truism has probably been around forever: Humans err conservatively. We do more to avoid pain than to embrace pleasure. Thanks for that tempting bush offer, but we’ll take the bird in the hand. (Note: Rule does not apply to poorly hydrated visitors to CYC’s hometown.) Jason at Hull Financial Planning argues that young investors could afford to take on a little more risk in exchange for the possibility of greater returns.

PKamp3 at (here’s our sporadic reminder that that’s an acronym for Don’t Quit Your Day Job) tells a story about how he went into debt getting his PhD, struggled through getting a job, ran up 6 figures of debt, and used emoticons in his work emails. He’s now trying to decide how many months of expenses to keep in his emergency fund before paying down his credit card debt.

Just kidding, PKamp3’s not your typical personal finance blogging imbecile.
Instead, he was a little more ambitious than that. He merely rewrote the tax code and remade the U.S. welfare system. We still find the idea of a negative income tax reflexively nauseating, but alas, the real world gives us only real world options.

Where has she been? Everyone’s favorite Ontarian fee-only financial planner, the lovely and talented Sandi Martin at Spring Personal Finance, returns after too long of a hiatus. Sandi doesn’t believe in starting off with a soft headline and then luring you in. Read “A Little Discouragement To Start You On Your Way” and see how committing yourself to a budget is more necessary than it is fun.

Oh, grow up. You eat vegetables, right? Maybe you even exercise regularly. And perhaps floss. It’s called being an adult. Sandi explains how forbearance and delayed gratification are your friends.

Remember when the Carnival of Wealth used to be an anthology of non-researched, grammatically abhorrent id spewings from illiterate bloggers looking to optimize their sites for search engines (and not, you know, for readers)? Whatever happened to those days? Justin at Root of Good continues this week’s hit parade by telling us what he’s going to do this summer. If that sounds self-indulgent, it isn’t. He can afford to take the family to Indochina (is that even a geographical term anymore?), Central America, or somewhere even more exotic. All because he lived beyond his means while actively earning income, and is now letting passive income do the heavy lifting. Traveling the world also contributes more to general utility than does the practice of law.

There’s a series of websites called, the x’s representing the last 2 digits of the year. They usually send us submissions from some of their vintage model sites,,, etc. This week Kelly Dean sent us one from, so we figured we might as well run it. If you’re semi-literate and live in the UK, you can probably find something of value there.

New submitter Liquid at Freedom 35 Blog watched a TV show about the children of vapid rich people. Liquid ends just about every sentence with a smiley emoticon, which adds much gravitas to her work.

Jay Wilner at Bobby Finance has some recommendations for entrepreneurs, which he states in pretty strong language:

Consider using Intuit’s Quickbooks for your business and Quicken for personal accounts

Consider a debt consolidation loan

Easy there, Generalissimo. Can’t you finesse that a bit, instead of being so blatant?

And we’re done. Started strong, then a precipitous dropoff. New blog post Wednesday, new Anti-Tip of the Day every day, frequent but irregular appearances on Investopedia, and we’re also on the panel for the Stacking Benjamins podcast. ‘Til then. runs on the Genesis Framework

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