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Finance Fiesta No. 8: Austin edition

Emily Starbuck Gerson | July 24, 2008 | Living with credit

Austin city limits sign Welcome to the eighth edition of the Finance Fiesta! It's been quite a festive week here at Taking Charge, and we hope you enjoy this showcase of some of the best posts from the personal finance blogosphere. The Taking Charge team is based in Austin, Texas, so we thought we'd base our theme around our beautiful city's favorite hang-outs and landmarks. We hope you enjoy our city!

Hi how are you graffiti in Austin

Editor's choice

Austin is well-known for being a quirky and artistic city. There's an annual birthday celebration for Eeyore, a vibrant local music scene and the city's favorite bumper sticker, "Keep Austin Weird." It's also not uncommon for odd graffiti, such as this, to sprout and generate affection.

Money Blue Book explains how credit card companies generate your card numbers. They aren't just random numbers, as you may think -- they are chosen using complicated mathematical formulas.
Budgets are $exy is irked by people who want to evenly split bills at restaurants and makes the case for always asking for separate checks. Amen to that!
Master Your Card acknowledges that loaning money to friends can be very messy, and provides tips on lending to a buddy without ruining the friendship.

Budgeting and frugality

While Austin has its fair share of upscale eating establishments, there are plenty of funky and inexpensive places such as Maria's Taco X-press, a kitschy South Austin taco dive with tasty cheap eats and "hippie church services" every Sunday (tacos, by the way, are a staple of Austin breakfasts, lunches and dinners). If you're visiting, please speak with care about how great the barbecue is back home. Them's fighting words, even at hippie church services.

To Be Debt Free helps readers learn to assess their financial situations by reviewing spending habits, categorizing spending and constructing a monthly budget, among other things.
Passive Family Income discusses a recent two-week visit from in-laws, and goes over which financial aspects of having house guests went predictably and which expenses came as a surprise.
Penny Pinching explains how you can save money on movies. I like many of his ideas, especially since movie prices are rising -- it used to cost only $5 to see a movie, but now an adult ticket is nearly $9 here in Austin.

Career

If you want an excellent career, there are few better places to start than at the University of Texas. With more than 50,000 students, UT is Austin's lifeblood, and locals go so wild for Longhorn sporting events that new residents are issued burnt orange attire and forced to memorize Bevo stats. Three of the Taking Charge editorial team members are proud graduates of UT, and one taught there. Hook 'em horns!

The Shark Investor debunks the myth that it's easy to make money from blogging.
Broke Grad Students suggests several ways college students can get work and make money this summer.

Economy and investing

Many important decisions about Texas' economy are made in the pink granite state Capitol building, right in the heart of downtown Austin. Constructed in the late 1800s, the capitol is a popular tourist and protest spot. It's true that everything is bigger in Texas: Its Capitol building is the largest of any state capitol. Only the national Capitol building is bigger.

Our Life in Colorado has decided to boycott driving for the month of August in order to eschew high gas prices and be more green.
The Digerati Life features a guest post that provides five hot tips for first-time investors.
Bullreturns advises investors not to over-leverage.
Free Stock Market Investing Tips raves about why he loves owning Luby's stock. I'm a Texan, so I can really appreciate this!

Money management

While it is usually cheaper to bake and cook at home, sometimes it's worth spending the extra money on a special sugary treat. One of Austin's sweet stops is Hey Cupcake! It's in the artsy South Congress area, housed in a brightly polished vintage Airstream trailer, topped by a giant, 634,973-calorie cupcake.

Counting My Pennies explains how she manages her money among seven accounts. It sounds hard, but she's got it down!
Living Almost Large writes about his definition of "living almost large," and explains that while it is a similar struggle for all, everyone has their own goals.
Personal Finance Analyst realizes after a pricey procedure that dental insurance may be a good investment after all.
Debtopedia helps parents understand how to teach their children about financial responsibility.

Real estate

Austin was once a sleepy college town, but UT graduates who fell in love with the city began staying here after school, and now it is a hustling, bustling city. The home of major companies such as Dell and Whole Foods has caused a boom, and high-priced condominiums are shooting up in downtown faster than weeds. One very in-demand area is near Lady Bird Lake (right), named after Lady Bird Johnson, President Lyndon Johnson's late wife, who was instrumental in converting the lakeside from its Industrial Drab look into a city jewel.

Housing Markets provides several tips for selling your home as quickly as possible, which can be extremely difficult in this economy.
Michael Emilio tells homeowners what they need to know about refinancing a mortgage.
The Personal Financier helps readers decide if it is wiser to buy or rent a home.

Credit

Austin is a very health-conscious city; Our natural springs and hike and bike trails mean a very outdoorsy population, and organic and healthy foods are preferred here. Whole Foods Market got its start in Austin and is now a national chain. Austin has several other health-focused grocery stores, but the problem is that organic and natural foods are so darn expensive (Whole Foods' local nickname is "Whole Paycheck"). Instead of spending all your money at a specialty health store, shop there only for foods that easily absorb pesticides.

Find Secured Cards provides helpful tips on how those with bad credit can get a credit card again.
Credit Blue Book describes the perks of credit card reward programs and reviews some of the best reward cards.
Military Finance Network discovered a great reward promotion for Discover cardholders.

Debt

Between rising gas and food prices, many Americans are cutting back on discretionary spending. Fortunately, in Austin, there is plenty of free entertainment: There's Blues on the Green, where residents can enjoy free concerts in our beloved Zilker Park; the annual kite festival; First Thursday, a monthly arts and music celebration; and many natural swimming holes. There are also bats! Austin's South Congress bridge, which crosses Lady Bird Lake, is home to an estimated 1.5 million bats. The bats emerge to find food most evenings at dusk from March until November, and locals and tourists alike enjoy watching the bats fly against the sunset. A bat statue (NOT life-sized) marks a favored viewing area.

Prime Time Money explains how to evaluate your debt and take action as part of a midyear financial check-up.
Ask Mr. Credit Card helps readers discern when a credit counseling service is legitimate. When you're trying to get out of debt, the last thing you need is someone to scam you out of your remaining money.

Waterloo Records Austin

Saving methods

Austin is the self-proclaimed "Live Music Capital of the World." The city hosts the annual Austin City Limits and South by Southwest (SXSW) festivals and is home to the music-packed Sixth Street. While some of these musical activities can be pricey, we have some that are easy on the wallet. Waterloo Records, one of Austin's staples, has frequent free in-store concerts, often with big acts. You can also buy used CDs at Waterloo for less and make some money by selling them your used CDs.

Money Saving Blog lists 25 ways to be a gadget geek without breaking the bank. It's possible to be tech-savvy and frugal at the same time!

Money and relationships

Money and relationships can be extremely complicated when joined. One great way to maintain a healthy relationship is to continue going out on dates together, especially once you are married or have children. One fun place to go out for a date night in Austin is Antone's. The famous downtown concert/barbecue venue has been around for over 30 years and has hosted many legends, including BB King, Pinetop Perkins, Muddy Waters, Fats Domino and John Lee Hooker.

Christian Personal Finance reveals seven things he has learned about money and relationships after being married for three years.
Financial Learn helps women understand the 10 things men wish ladies knew about money.

That's it for this week's Finance Fiesta -- we hope you enjoyed the tour of Austin. If your entry has been included, please remember to link back, and feel free to submit this to your favorite social networking sites. If you enjoyed Taking Charge, please consider subscribing to our RSS feed or e-mails. Y'all come back and visit us now!

2 Comment(s)

PT said:

Great job on the carnival. I've had some great times in Austin (I live in Dallas). Thanks for putting this together.

July 24, 2008 9:22 AM

Jonathan @ MYC said:

Nice work with the FF! Austin sounds like an amazing place...

July 31, 2008 1:44 AM

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