Blogging In The Personal Finance Blogosphere
It seems like there are new personal finance blogs popping up daily in the PFB (personal finance blogosphere). I guess some people believe its a gold rush or a quick path to good money. Most will be disappointed. We bloggers love to throw around numbers of how many new blogs are created every day, but nobody likes to talk about how many blogs are stopped and/or destroyed each day. For example, if you look at the tail end of the Top 100 PF blog list maintained by Wisebread, many of the blogs have not been updated for months – inactive blogs are basically dead blogs.
So, as the PFB seems to be one of the fastest growing segments of the overall blogosphere, I thought I’d comment on my thoughts about it as well as my strategy to carve out a little corner of the PFB for myself.
Types of Personal Finance Blogs
In the PFB, most blogs are broken down into the following categories:
- Basic Personal Finance – topics range from credit cards, 401ks, 529s, spending, budgeting, basic investing concepts like diversification and portfolio balancing, mostly common sense type stuff
- Getting Out Of Debt – these blogs typically focus on getting out of debt and commonly fall into the theme of “I have 100k in debt, read about my journey to get out of this hole”
- How To Save Money – these blogs can take the form of finding cheap products to coupon clipping to general expense management strategies
- Investing & Trading – this could and probably should be a separate topic from personal finance since you can get really indepth when it comes to investing & trading but I’ll include it for now
- Economic Analysis – Like the Investing blogs, this could be a category on its own
- Building Income – Blogs devoted to building income; these are not very common although the “how to make money online” category is very over-populated. May or may not really apply to personal finance.
My Strategy For 20smoney.com
First, my goal is to not be a typical personal finance blog with common sense money strategies. For the most part, that bores me and I think is really mostly about common sense. Yes, I know most people lack common sense. Anyways, I created the Personal Finance Manifesto for this reason, so that visitors can get a gameplan for the basic stuff, and then read the daily blog content for “more advanced” stuff for lack of a better term.
My focus is the following:
- Help people who are in good shape financially get to “the next level”
- Help people learn how to successful become an active investor/trader
- Help people develop additional income streams
Those three areas are my focus. Additionally, I do comment on the economy and politics when it affects those three areas (usually with regards to investing). As such, if you look back at the category list above, 20smoney.com tends to be a blend of the last three categories mostly and the blog dabbles a little bit in the other areas.
So, after reading that explanation, if you think this is a good blog for you, I suggest you SUBSCRIBE TO MY RSS FEED.
Planning To Start A Personal Finance Blog?
If you’re planning on staking your claim in the PFB, good for you, kinda. I’m not going to encourage you or discourage you because hey, you might have something that millions of people need to hear, or you might have nothing that anybody should hear. Who am I to say?
It is very possible to start a blog and gain readers and even make money. With that said, I will give the following warnings:
- The PFB is crowded – very crowded
- Pretty much every topic has been discussed and to a degree of decent quality
- Your story probably isn’t unique
If you’re determined to still move forward, I would encourage you to try and be specific and have a unique angle on something. Share your opinion. Don’t do how-to articles on basic stuff that you can already easily find on Google. Share commentary, your opinions and maybe some examples of your own finances.
For more tips and information on blogging including details on my traffic and income I receive from blogging, check out the Blogging category on this blog.