PF Blogger Interview: Kyle of AAA

For the second edition of the personal finance blogger interview series I had the privilege of speaking with Kyle of Amateur Asset Allocator. Hopefully the readers of Studenomics, new pf bloggers, and those considering entering the blogosphere give this interview a read as Kyle has a lot of valuable insight to offer. Before I start typing away let’s dive straight into the interview:

Me: What made you start blogging about personal finance? (Yes I know you have probably answered this question 2 million times)

Kyle: Mostly, it was borne out of an interest in the subject.  I enjoyed reading other pf blogs, specifically freemoneyfinance.com and consumerismcommentary.com, and figured it would be an enjoyable hobby.  I severely underestimated how much work it would be to maintain a pf blog, but I have enjoyed it immensely and learned more about personal finance and investing than I ever thought possible.  Of course, there was also the lure of being able to make a few extra bucks running a popular blog, but that has also turned out to be much more difficult than I thought.

Me: What separates your blog from the many other personal finance blogs on the internet?

Kyle: Well, I think my focus, or lack thereof, of one.  Most personal finance blogs seem focus more on the how-to’s of saving money, frugality, and basic investing concepts whereas my blog has a much broader scope.  I often write about broad the economy and tackle controversial topics such as whether or not government inflation numbers are manipulated.  That post was quite popular because people tend to have very strong opinions one way or another.  Of course, I occasionally write “5 ways to…”-type posts, which are good for link-building, but I prefer to focus on broader economic or advanced investing topics

Me: What do you feel are the main reasons your blogging experience has been so successful?

Kyle: Writing quality content is important, of course, but sometimes there’s the temptation to phone-it-in once or twice per week just to have something to post.  While regular posting frequency is important, it shouldn’t come at the price of your content.  If you can’t write quality material every day, you shouldn’t try to post every day.

Networking is also huge in blogging.  I try to write a link post every weekend to highlight some of my favorite posts around the blogosphere, carnivals I participated in, and my own blog network.  Linking out and expecting nothing in return will get you noticed by other bloggers.  Eventually, you’ll get your break when somebody like Flexo or the people at the MSN Smart Money blog notice your work and send you waves of traffic.

Me: Would you recommend blogging as a full time source of income? If so, then for what type of individual?

Kyle: Well, it CAN be a source of full-time income but for most bloggers it won’t be.  It’s a great way to make an extra few thousand dollars per year if you work at it.  I think most of the more successful online entrepreneurs are in affiliate marketing and niche stores.  My advice would be not to put all your eggs in one basket.  I also run a few mini-sites on various subjects and plan on experimenting with niche eBay stores all the while building more mini-sites.  I am considering starting another flagship-type blog in the travel niche, but for the most part, I think blogs work better as a marketing tool than an income-generator in and of themselves.  Blogs are good for link-building but adsense will only take you so far, even if your blog has a lot of traffic.  Of course, there will always be guys like JD, Darren Rowse, and John Chow out there earning a living from their blogs, but for most individuals, diversification is key.  A few dollars a day from 100 different sites is better than 100 dollars a day from one site, in my mind.  The type of person who will be successful online is the logical, scientific type who thrives on experimenting with different marketing techniques and advertising placements.  If you like statistics, you will love running a website.

Me: Given the current state of the economy, what is your number one tip for saving money?

Kyle: Take your lunch to work and stop drinking soda/bottled water.  Not only will you save a lot of money, you’ll be healthier too.

Me: Best financial decision you made in your early 20s?

Kyle: To take the time to learn about investing myself rather than relying on the advice of others.  I read everything I could get my hands on about the topic and it’s helped me immensely.  It’s saved me from making a lot of dumb financial moves, like chasing returns or day-trading.

Me: Best general decision you made in your early 20s?

Kyle: To study abroad and learn a foreign language.  More than any single experience, that has helped me become wiser, more worldly, and well-rounded.  I think studying abroad should be a graduation requirement.

Me: Biggest issue facing new College/ University graduates?

Kyle: In this economy, just finding a job at all is probably the biggest issue.  More generally, however, I would say managing debt and spending patterns will be the biggest issue for most new graduates.  Many people think of college as their big party days, but in my experience that’s not true.  It’s much easier to go out and waste money every night when you have money to waste.  Those credit cards will sneak up on you if you let them.

Me: Advice for a new personal finance blogger?

Kyle: Yes, choose a less competitive niche!  Just kidding.  The best advice I can give is also the most generic:  network.  Write guest posts on other blogs.  Link to other blogs.  Participate in blog carnivals and group writing projects any time you can.  In general, you’ll get the best results networking with other blogs of your size and maybe a bit larger.  The large blogs get way too much email from upstart bloggers to help them out, but small-to-medium size bloggers are often more than willing to give you guest posting opportunities and link love.

Me: Any final thoughts

Kyle: Be patient.  It will likely take you 6 months or more to break the $100 per month mark and far longer to break $1000.  Blogging is a long-term commitment.

In case you have never checked out Amateur Asset Allocator before then I advise you give it a view as Kyle has frequent posts on meaningful subjects. If you enjoy financial and investment advice that’s easy to understand than it is clearly the blog for you.