Emily’s list: Winter Olympics edition

Written on February 12, 2010 – 3:23 pm | by admin

Today is the opening of the 2010 Winter Olympics, which are taking place in beautiful Vancouver, British Columbia. The games last through Feb. 28 and feature 15 Olympic sports ranging from ice hockey to bobsledding to curling.

Most of the participating athletes have been anticipating this competition their entire lives. They spend countless hours training, often missing important events to pursue their sport. They eat with precision in order to fuel to their athletic bodies. They have determination and focus that most of us only wish we could find. And all of their efforts are for one thing: the coveted gold medal. The winner not only achieves glory, but also becomes a hero in his or her country (and is usually offered millions of dollars in sponsorships).

Sure, most of us will never be Olympic ski jumpers, and major corporations will probably never pay us to wear their clothes, but that doesn’t make our individual goals any less important. We might not receive an actual gold medal in return for our efforts, but once we reach our own personal victories, I think we deserve to treat ourselves like gold.

Below are some winners in my book; these are my favorite personal finance blog posts from the past week. Please take the time to read them, and feel free to comment below and let us know your favorite (or if there are any others out there that you recommend).

1. Olympic athletes are determined people. They must train rigorously, eat well and forgo bad habits. Not all of us are that disciplined and immune to temptation; some of us have problems with this when it comes to our wallets. We think credit cards are a fantastic financial tool when used right, but Get Rich Slowly explains why some people choose to (or have to) say no to credit cards.

2. Due to the extreme nature of the Olympics, Olympians are often forced to make difficult decisions concerning priorities. In a recent commercial featuring Olympic alpine skier Lindsey Vonn, she discussed how she chose to forgo important events, such as high school prom, to train for the games. We also have to figure out our financial priorities. Consumerism Commentary discusses the answer to a common priority question: Should you pay your mortgage or your credit card bill first?

3. I don’t think Olympians would consider performance enhancing drugs a right, but what about debt? Ultimate Money Blog wonders whether credit card debt should ever be acceptable.

4. Do you and your spouse butt heads when it comes to your finances? Does it throw you two off center? ChristianPF offers 14 rules you should follow if you and your spouse are going to fight about money. If you follow them, you’ll be as in sync as a pair of figure skaters.

5. Thousands of athletes attempt to compete in the Olympic games, but only so many make the cut. At any given time there are also millions of Web sites competing for your attention, so it can be hard to find exactly what you’re looking for. A guest post at Mighty Bargain Hunter provides readers with tips and tricks on how to find great online deals using Google.

6. Losing out on a medal after years of training is devastating. Losing a credit card doesn’t have the same sting, but it can certainly wreak havoc. Good Financial Cents explains what you should do if you lose your credit card and how you can help prevent credit card theft.

7. There’s no denying the amount of experience and skill you have to have be in the Olympics. The Simple Dollar discusses the personal finance framework we create for ourselves based on life experiences, and explains what we can do to override these cues and learn how to make better financial decisions.

8. Dual Income No Kids explains how you can build good credit in ways that do not involve using a credit card. It doesn’t happen overnight, so if you are the speed skating type, you may need to exercise some patience.

9. The Digerati Life outlines three affordable, do-it-yourself methods you can use to get yourself out of debt. Once you’ve done it, you will feel like you have won your own gold medal.

10. I doubt any competing athletes have Feb. 22 on their mind, but it’s a big day for cardholders. Cash Money Life helps readers understand what changes will take place in each of the three phases of the CARD act, one of which starts later this month.

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