home repair projectsWelcome to this week’s edition of the Carnival of MoneyPros! This week’s edition is called the “home improvement” edition because I am on the home stretch of all the remodeling/updating of our house. I took a week back in September to do a lot of painting and ordering new carpet, and updating our powder room. This week I was at it again with more painting and finishing up to smaller things that have been pushed to the side – like trim work. When all is said and done, I am planning to have 95% of the stuff done with only a few outstanding mini-projects left.

During my downtime, while I waited for paint to dry, I did a good amount of reading, many of which were the posts below. I hope you find benefit with them and can apply them to your finances!

(As always, The Carnival of Money Pros is brought to you to by the Money Pros Team, and you can submit articles at Blogger Carnivals.

Mario @ Adventures in Frugal writes Six tips to vacation in New York WITHOUT looking like a tourist – There’s nothing worse than getting to New York and looking like a tourist; here are some tips to avoid that

Maria @ The Money Principle writes Money management: use the ERR strategy to make your money go further – Your money never goes far enough, uh? This sucks.

Alexa @ Defeat Our Debt writes Should You Take a Vacation if You’re in Debt? – Your debt is stressing you out. Work is stressing you out. And you just need a little break from the normal day to day grind.

Alexa @ Single Moms Income writes How to Find Freelance Writing Jobs (Free Email Templates) – When it comes to finding freelance jobs the first one is the hardest. And, at first it takes a ton of time to find them – especially if you don’t already have a platform setup for yourself.

Brad @ Enemy of Debt writes The Power Of A Support System – Why does part of my brain keep wondering if I’m really going to be able to finish next week?

Larry @ KrantCents writes All Talk, No Action – ou know these people; they make promises or talk a lot and never accomplish anything.

Monica @ Monica On Money writes When can you Retire? – It talks about how to start saving and planning for retirement at any age. Even in your 20’s when you’re probably not thinking about retirement yet.

Natalie @ Debt and The Girl writes Are You Richer than the Average Millenial? – Everyone knows that millenials have not been moving as progressively as other generations in the past.

Cat @ Budget Blonde writes That Time I Went To Las Vegas By Greyhound – My best friend is English, and we have had a number of ridiculous adventures in our long friendship; however, the best adventure happened the time we went to Las Vegas by Greyhound.

Danielle @ TeacHer Finance writes The Importance of Company Credit Checking – Understanding how your company, potential business partners and new customers that you choose to deal with can be affected by credit reports is vital.

Aaron @ Aaron Hung writes Watch out for these Back to School Spending Mistakes – Much to the chagrin of children everywhere another school year is about to start, and that means that parents across the country are busy stocking up on school supplies.

Justin @ Edward Antrobus writes Retiring soon? Better Know Your 4 R’s – If you’re lucky enough to retire in your 60s the chance that you’ll live another 20, 30 or possibly even 40 years is a good one these days.

Marissa @ Thirty Six Months writes You Should Always Seek Value – To get yourself financially free, to make good investments and to get through life in a calm and relaxed manner – you should always seek value.

Marissa @ Finance Triggers writes Best Way to Collect Superannuation Funds during Retirement – If you work in Australia, then you are likely to have at least one superannuation account set up to help you out financially during your retirement.

Sam @ The New Business Blog writes Want to be Successful? Avoid These 5 Emotionally Charged Habits – There are, to be sure, many things that contribute to your overall success. Things like your attitude, your ability to lead, your people skills and so forth all have a big influence on it, no doubt.

Katie @ IRA Basics writes 4 IRA Withdrawals that Actually Make Sense – Withdrawing funds from a traditional IRA before a person turns 59 ½ usually means that they’re going to pay a lot of taxes and penalties.

Lily @ Paying Debt Down writes Some Facts to Consider before Filing for Bankruptcy – For many consumers the thought of having to file bankruptcy can cause quite a bit of anxiety.

Bob @ Dwindling Debt writes Looking for a Store Credit Card? Don’t Look Here

Andrea @ So Over This writes Wage Theft – Should Salaried Workers Get Paid Overtime? – Wage theft is just the new fancy term for an issue that has long been apparent, the overworked and underpaid salaried workforce here in the U.S.

Hadley @ Epic Finances writes Stock Investing Myths and Truths Part 2 of 4 – Even though there’s plenty of information about what works and what doesn’t when it comes to investing in the stock market, many myths still refuse to die.

Lenny @ Best Money Saving Blog writes Stock Buybacks are Booming! – After faltering for a couple of months, buyback announcements from many major US companies shot up to a three month high recently, putting 2014 on track to be one of the biggest years ever for buybacks.

Amy @ Money Mishaps writes Why Taking your Social Security Benefits Early is a Smart Choice – If you ask most retirement experts, they will tell you that waiting to take your Social Security benefits as long as possible is a great idea.

Jack @ Money Saving Ethics writes Guess who’s staying (and staying, and staying) for dinner? – Millennials who are moving back home and living in their parents basement (or other parts of the house) because they can’t find a job and, even if they do, can’t actually afford to rent a place of their own.

Matt @ Budget Snob writes Investing Doesn’t Take Genius Intelligence, Just Common Sense – A quote that’s attributed to Albert Einstein goes something like this: “Insanity is doing the same thing over and over and expecting different results.”

Danielle @ Saving Without a Budget writes Want to save Money? Use your Smart Phone – The vast majority of American consumers now have a tool right in their pocket or purse that they can use every day to quickly and easily save money.

Jon @ Money Smart Guides writes The Simplest Way Ever To Become Rich – What if I told you there was a simple way to become rich? Would you be interested? What if I told you that it would only take you 10 minutes max to do and you would only have to do it one time? Some of you might be getting excited while others now think I am full of it.

Jay @ Daily Fuel Economy Tip writes How to Save on Gas – Uncommon Ways – I will describe a few less common ways you can save on gas – I hope you will find them useful.

Oscar @ Money is the Root writes Paying Off Debt Smarter and Faster – There are few things better for your financial health than paying off any debts that you have as quickly as possible.

Daniel @ Make Money Make Cents writes The Expenses of Buying and Owning a Home – From finding the perfect mortgage with the appropriate fees, to the year round upkeep and maintenance, this investment requires a lot of time and capital.

Natalie Bacon @ Financegirl writes 4 Steps To Get Financially Prepared For Christmas – It’s October, which means 2 months until Christmas. Here are 4 steps to show you how to prepare financially for Christmas this year.

Prudence Debtfree @ Prudence Debt Free: One Couple’s Journey Out of Debt writes Debt Talk: Breaking the Taboo at Work – In this post, I talk about an experience I had in breaking the taboo against debt-talk at work. The result was that the colleague I spoke with started to get serious about his debt. Even more impressively, he has started to talk with more colleagues and even students (we’re teachers) about debt. It’s tough for many people to when one person breaks the taboo, there is a ripple effect.

Gretchen @ Retired By 40 writes 21 Ways to Make Christmas Affordable – Christmas doesn’t have to mean credit card debt and stress!

Taylor @ Miss Finance writes Will Your Credit Score if You Pay off a Loan Early? – It seems a no-brainer to pay off a loan early if you can. However, are there credit disadvantages to doing so?

Jerry @ Repaid.org writes How Long it REALLY Takes to Boost Your Credit – We would all like for our credit to be a “quick fix.” But, in reality, boosting your credit is a long and sometimes arduous journey.

Lance @ Healthy Wealthy Income writes Don’t Let Off the Gas With Your Money – Things are going well, so maybe you can back off on your budgeting and investing….or maybe you want your money struggles to start all over again…don’t get lazy, get motivated to finish what you have started.

Little House @ Little House in the Valley writes I Live in the Second Most Overpriced Housing Area – I have a very solid plan in place that I think will unfold nicely if I can afford a home in 12-16 months from now even though I live in the second most overpriced housing area.

Miss T. @ Prairie Eco Thrifter writes What Are You Giving Up to Save Money? – The five dollar dinner revelation got me thinking about all kinds of other trade offs I, and other people I know make for the sake of saving a few bucks here and there.

Paul Vachon @ The Frugal Toad writes Romantic Date Ideas – Fun and Cheap Dates – Are you tired of the standard dinner and a movie date night? Looking for a romantic date idea that won’t cost an arm and a leg? Try one of these date ideas for a romantic evening the two of you will be sure to enjoy!

Erastus @ Wise Dollar writes How to Compare Mutual Funds – If you want to know how to compare mutual funds, I share things to look out for. The benefit is keeping more of your money working for you in the market.

Erastus @ Sprout Wealth writes 3 Great Ways to Maximize Your Credit Card Rewards Points – Credit card rewards points can be a great way of traveling for free. I share some simple tips to maximize the rewards points you can earn to fund travel.

Erastus @ Frugal Rules writes Top Christmas Gift Ideas For Kids Under $25 – The top Christmas gift ideas for kids aren’t really that expensive. I share some our favorite toys under $25 that will be a hit as a Christmas gift in 2014.

Michael Kitces @ Nerd’s Eye View writes Why You Should Only Buy Insurance Protection And Annuity Guarantees Expected To Lose You Money (On Average) – If insurance isn’t going to lose you money, on average, it is something you should actually avoid! The reason is that insurance guarantees should never be expected to make you money because the insurance company will lose money, eventually go out of business and you’ll lose your insurance guarantee anyways! It’s important to realize that the decision to purchase insurance rides on trading small known losses for large, unexpected losses!

Glen @ How to Save Money writes Saving Money at Home – Tips on how to save money on home maintenance

Irfan @ Health Auto Car Insurance writes Are you Looking for Cheap Auto Insurance? – If you are looking for cheap auto insurance, then ask yourself the following questions to lower your rate.

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iraqi dinarThey say that fortune favours the brave, so given the level of political turmoil and general unease that seems to exist in various parts of the world at the moment, there are definitely trading opportunities for the daring investor.

Whilst many typical forex brokers are far more likely to see trades relating to the USD or EUR, there are some speculators who are trying to cash in on the wildly fluctuating values that are being put around for the Iraqi Dinar.

Chequered History

Since its introduction in 1931, the Iraqi Dinar has certainly enjoyed an eventful history.

The Dinar has changed hands on a number of occasions even from the early days of inception, going from being backed by British pounds to being pegged to the US dollar. The Central Bank of Iraq has subsequently issued what they consider to be a stable currency, but some investors are not so sure, whilst others see it as an opportunity for gains.

The former Iraqi president Saddam Hussein was deposed in 2003 and the current transitional government subsequently issued new Iraqi Dinar into circulation. These new notes incorporated hi-tech anti-forgery techniques and were printed by the respected and recognised printers, De La Rue.

Speculators Rush In

Since the updated currency was introduced, the valuations for the Iraqi Dinar has swung violently in either direction, touching between 900 Dinars per Dollar and 4000 Dinars per Dollar.

This frenzied activity in the price has attracted speculators who think that there may be an opportunity to cash in, leading to internet forums lighting up with chatter and opinion on whether this really is a once in a lifetime to make some serious money or an easy route to losing your money.

Been There Before

The reason for such levels of excitement is not just down to the wild fluctuations in the price, but also because there are parallels being drawn with what happened as a result of Iraq invading Kuwait and the Gulf War.

The Kuwait Dinar fell dramatically when Iraq invaded to a low of 10 US Cents but in January 2003, the previous weighted currency basket peg was subsequently switched to a higher valuation which effectively meant that some investors yielded a return of over 3,000%.

These same expectations have surfaced again albeit under different circumstances. The Iraq economy enjoys excellent returns as a result of being rich in crude exports and as the country is also likely to be under the guidance of the U.S for the foreseeable future, there are conditions in place that could see the country make an impact in the global economic arena.

These improvements in infrastructure and stability are expected to be reflected in the underlying currency, which explains the fevered speculation that the Iraqi Dinar could be an opportunity too good to miss for brave investors.

All That Glitters

Anything that promises to deliver stellar returns should always come with a wealth warning and all that glitters does not always turn out to be gold.

The fees charged just for buying Iraqi Dinar’s often turn out to be prohibitively high so that should definitely be a factor to deter you and also whilst the Kuwait Dinar scenario comparison might make sense at first glance, Iraq currently has bigger problems to solve than Kuwait did and you would probably have to therefore conclude that it is not likely to be able to support a currency that trades equally with the dollar.

You may disagree with that outlook and consider that playing a game of truth or dare with your money and taking a punt on the Iraqi Dinar might earn you some easy cash, or of course it might not.

Only you can decide which opinions and historical precedents will turn out to be prophetic words of wisdom.

Author Bio: Abbie Peacock is always looking for new ways to invest in the Forex stock market. When she finds one, she can’t wait to share it online. Look for her enlightening articles on many investing and financial websites.

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