When I first became an adult with a family and mortgage, I knew that I would have both a responsibility and obligation to make sure that our household was always protected. That meant not only just working hard and earning a decent wage, but also making sure I at least understood basic financial planning enough that I would be able to engage in some of the many ways to grow your income.
My ambitions started out with reading lots of the best money books. I would go through page after page trying to find the magic equation for getting rich. By purposely picking books that were written by millionaires themselves, I thought I would be able to learn from their methods and reproduce their success.
To some degree this method worked. I learned the basics of financial planning on things like having a 401k, an IRA, stocks, etc. I also learned about the concept of passive income, and how everyday people use it to change their lives.
Books are great and I will never knock them. But after a point, the material and the messages started to sound the same. Over and over, the mantra of “spend less, save more” was becoming a bit of a broken record. And I REALLY wanted to know more about this whole passive income theory and how it could be used to retire early. Were there REAL people out there who actually had success with it?
The Web is Full of Both Advanced and Basic Financial Planning Tools:
Absolutely there was! And I found them on blogs.
Reading blogs have taught me so much more than I could have imagined about personal finance. I’ve been able to find very specific information about everything from retirement planning to asset allocation and stock valuation. And if that’s not enough, you can even find more serious ones that talk about buying options or making investments in private companies using someone like CSS Partners. No matter what it is you’re trying to find, there always seems to someone else who has had some success in this area before and is willing to share it with the public on their own site.
The people that write these sites live their advice. They really do retire by age 40. They really do figure out how to replace their employment income with something else. They really do figure out how to make what it is you’re trying to do work.
The other great thing about reading financial blogs: They get updated regularly. Unlike a book, there’s no waiting around for months or years for the next one to come out. As often as a few times a week you can read something new from your favorite writer; raw and uncensored.
Unlike the titles you might find at Barnes and Noble, the advice you find is not always conventional. Forget about saving just 10% of your paycheck. Forget about NOT taking on more debt. There’s a lot of different tricks people out there use and swear by, and each one of them has a different success story to share. The only question is: What do you want to learn from all of it?
The Top 100 Finance Blogs Infographic:
If you’d like to see a list of great financial planning blogs, then check out the following infographic by Credit Audit. I don’t know how, but My Money Design made it to the No. 7 spot out of 100. That’s pretty great considering there were some pretty big and much more established personal finance blogs on this list. I’m glad to know that someone thinks pretty highly of my site.
Readers – Where did you learn your basic financial planning habits? Was your blog included on this list? How would you have ranked these sites if you had put together this infographic?
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Image courtesy of Sura Nualpradid / FreeDigitalPhotos.net