I must admit that whenever I read a personal finance book I ask myself the question: was this guy rich before he wrote this book or because he wrote this book?
Sadly, for many, writing the book is a way to wealth for the author … not a way to express wealth to the reader.
For personal finance blogging, I feel that it is different, simply because there isn’t enough money in it to justify the time … even for those who do accept advertising on their blogs.
So, why do personal finance bloggers blog?
For the answer to that question, I turned to a blogger who is clearly so successful that he can’t possibly be in it just ‘for the money’ – or the fame – Guy Kawasaki … he already had plenty of both!
If you don’t know Guy and his blog, I suggest that you open a new tab in your browser and get acquainted with him now.
In a recent post, Guy talks about a a three-part study from C-NET, appropriately called “The Influencer Study from CNET Networks: Challenging Perceptions.”
Guy says that the study “explored the structure of social networks, the motivations for giving advice, and methods of acquiring information.”
The part that interested me was this comment about influencers:
Influencers aren’t driven to share information for the sake of appearing knowledgeable or to demonstrate their expertise. They’re primarily motivated by a basic desire to help others. They develop a stronger sense of self-confidence when it’s well-received, further motivating them to help and advise others.
Now, I can relate to this …
I write this blog because I want to share what I learned the hard way … there was no clear roadmap for me to follow when I was struggling financially, so I want to create one for others to follow.
The many books – and blogs – that are out there dealing with the subject of money seem to mainly focus on how to save and get debt free, or how to retire on plus/minus 20% of your current salary …
… while important, none addressed my need to be totally financially free, at a (relatively) young age and with enough ‘play money’ to do the things that I needed to do.
And, none showed me how to do that quicker than ‘get rich slow’, but more safely than ‘get rich quick’.
I guess I had to write my own ‘manual’ on how to get rich – by trial (many) and error (many) as I went along … this blog is the result.
I hope that it works to make your path to wealth a little quicker and easier for you than it was for me!
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“The many books – and blogs – that are out there dealing with the subject of money seem to mainly focus on how to save and get debt free, or how to retire on plus/minus 20% of your current salary …
… while important, none addressed my need to be totally financially free, at a (relatively) young age and with enough ‘play money’ to do the things that I needed to do.
And, none showed me how to do that quicker than ‘get rich slow’, but more safely than ‘get rich quick’.”
These words you wrote do ring true from what I have seen. I think the emphasis on debt free and savings is great and needed. But there is not enough on the steps in-between that and where your dream may take you. Saving for retirement is only so exciting; yet that is what most of the financial blogs do focus on. This blog, and perhaps your own experience of success and desire to share it altruistically, does set itself out a bit. Thanks and keep up the good work!
Now *this* is written like someone who both knows and has walked the path. I don’t kid myself to think that any blog I read is directly going to make me rich. (Too much reading, I suspect, will do the opposite.) But I do believe that the road to wealth begins in the mind and blogs like this give me the food for the journey.
@ Tim – Thanks … it’s exactly why I bother to write. Some of these PF blogs are very good; this blog (I hope) takes off where they leave off.
@ Blogrdoc – read less … do more! I think we share at least one trait: we both have a “scientist’s nature” and the risk is that we can research things to death; I think I have learnt when to fight that instinct and when to go with it.
“But I do believe that the road to wealth begins in the mind and blogs like this give me the food for the journey.”
I don’t really have much of a comment to say about this. I just liked it.
Thanks again AJC.
I have to say that I started to write my blog because it helped my goals. If I can keep a track of what I plan to do and how I am achieving it, it helps clarify things in my head. However, now I have regular readers who learn from my mistakes and achievements and eally helps to motivate me.
@ Anthony – Thanks!
@ Rachel – GL with your blog and new venture.
A lot of people who write books or blog about how to get rich doing __________ got rich from selling the books/audio/video on how to get rich doing _______________.
Want to be rich? Love your family. Help others. And share yourself.
I started because of my desire to become completely financially free, and I wanted to how to do it with others. It’s been a great ride so far and it’s opened me up to a lot of other blogs and great ideas.
@ Jared – unfortunate, but _____ true 😉
BTW: I aree with your ‘rich’ defintion … but, there is a practical side: how much money do you need ‘behind’ you to make your ‘giving’ of yourself a little easier? IMHO, they are not mutually-exclusive concepts.
@ Fiscal – I think that’s the same reason that most PF bloggers would give. Let’s keep on truckin’ 🙂
Nice article. I really enjoyed the read.
I started my personal blog more because I just really have developed a true love for writing. I started blogging for AOL last year, and since then I find that the more I blog, the more it makes me search out blogs to read, which is ironically how I found your blog in the first place.
The best reason to blog I think is that we learn more from our own personal mistakes and successes, and by keeping a journal of our thoughts we have a great resource for tracking and reviewing our past.
keep up the great work
@ Michael – Thanks! Good luck with your blog …
So far, I’m batting 100 … nobody’s yet said [admitted?] “Damn you … I write for the money … and, the women!” 😉
I write for the money! And the women! 😛
But all of your resons are good as well
@ JaredDude – lol. Thanks!
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