There are probably a million books on sale on personal finance and probably twice as many blogs on the internet. With that being said, I am not trying to promote my blog as being the best or the most practical, the point of this article is to show the 3 most crucial elements that personal finance advice should have. Every personal finance website has something to offer, and whether you choose to come back to this site or not, I ask you to ensure the following three aspects are applied when you choose to accept personal finance advice.
1. Timeless. Any solid personal finance should be timeless in the sense that it can be applied at any point in time, not just a specific month or year. Every once in a while a new book or website will come out giving personal finance advice that can only be applied at the present time, and it promises to get you rich. If you are an avid follower of these get rich quick strategies then I’m sorry to say that this website is not for you. I believe that personal finance advice is not time-exclusive, it should be the same advice that someone in 1984 or 1996 applied. Obviously times change, but there are many constants, such as you will always have to improve your earning potential, spend less than you earn, invest in your future, etc.
2. Come from someone who has “been there and done that.” Anyone can open up a website or write a book claiming to help you get rich. The funny thing is, most of the people do not make any money until they sell a bunch of “get rich quick” books. Prior to selling all of their get rich books or website subscription, these people had no money. For someone to give advice on how to save money and have lots of money they should be somebody that has done it. Any joker off the streets can teach you to be good at playing basketball or saving money, but how can you take them seriously when they haven’t done it? I feel I’m qualified to give personal finance advice because I am young student who has excelled in his studies, saved a lot of money, gone on many vacations, and invested in real estate. This site will not tell you to become rich over night or how to make $25,000 in 2 weeks on your computer, I am here to provide valuable advice that has helped me get to the point that I am at.
3. Be advice that you are willing and able to absorb and then apply. I have read high quality content on many personal finance websites that I recognize as good advice, but I simply do not wish to apply it. We all have different lifestyles and different goals in life. I personally try to save and invest money while keeping my grades high and going on vacation at least twice a year. Some personal finance advice requires you to save money all the time, with little room for enjoying your life. I want everyone to enjoy their life, while building a prosperous future, without having to worry about saving a dollar on a coffee or staying in every Friday night. When you read personal finance advice just remember to think if it is applicable to your life and if you are simply willing to make the necessary changes.
What elements do you consider solid personal finance advice to have?
