Starting a blog might be one of the most important steps you’ll take in your financial journey, whether your goal is to get out of debt, save for retirement or something else.
Hundreds of people have started their own blogs chronicling their personal financial journey, filled with tips they’ve learned blogs, steps they’ve taken and goals they’ve achieved.
You should start your own money blog. It can be a huge tool in helping you take control of your financial situation by giving you accountability and making your goals easier to remember.
What is a Blog?
A blog is a website that is set up and organized in chronological fashion. In other words, the newest content is added at the top of the page. I’m sure you’ve seen hundreds or thousands before.
This website is a mixture between a static website and a blog. I use a blogging program called WordPress, which is (by far) the easiest way to blog. To blog you have to have:
- A Domain Name. You have to know “where” to build a house before you build it. Same goes with the Internet. You need a domain name before you can start blogging.
- A Blogging Program. You have to have a program that will actually let you do the blogging. WordPress is, by far, the best and easiest program to use.
- A Web Host. Your blog needs to have some place to “live.” For a website, that “place” is known as a host. This basically your blog’s storage. I’m a fan of BlueHost.
Years ago, these three had to be bought independent of each other and pieced together, riddled with complicated technical mumbo-jumbo. Not now.
Now you can get your domain, hosting and WordPress installation in a few clicks atBlueHost. All their hosting packages are all-in-one, and you can get started for $70-80. Don’t worry, the blog will pay for itself, so this will actually impact your bottom line with a net gain in income.
But I’ve put ads on the site (anyone can get ads for their blog) which easily pay for it over and over.
So how is this going to help you on your financial journey? Simple.
Set Your Goals In Stone
Several years ago I was at a personal development seminar, and one of the speakers said that everyone should write down their goals and put them somewhere they can see them. Sometimes, hearing something out loud can completely change your perspective. Seeing it written down can have the same impact.
He wasn’t some kind of a new-age quack. It’s just how the mind operates. Sometimes we have to see what we’ve said before it can actually “click.”
I experimented with the concept a few years ago. I wanted to learn how to write. Since I spent a lot of time online, I created a blog post with my writing goals. I ended up making the post my home page, and read the goal over and over.
I almost couldn’t help it. Thinking about it constantly caused me to act upon the goal more. I wrote more. I practiced more. I accomplished my goals.
Some call this technique the “Law of Attraction.” Call it what you will, getting something in writing just makes sense. It can work.
Get Some Accountability
Remember, people will read your blog. Telling family members that you’ve publicly decided to record your goals means they’ll know if you succeed or fail. This is a good thing.
It’s always helpful if someone knows what your goals are for the sake of accountability, and that ever-irritating question, “So how’s the goal going?” This will compel you to try harder, meaning you’ll be more likely to succeed. A little financial accountability goes a long way to helping you get where you want to be.
Starting a blog about your journey compounds the accountability with possible anonymity. In other words, you don’t have to give out your name, but can create a community of readers who will still keep you on your toes. And trust me, that’s a good thing, though it might sound a bit uncomfortable.
Make Some Money
You probably won’t be able to quit your day job, but having a financial blog is a great opportunity to make a bit of an extra income. A handful of individuals in the personal finance blogging community make a full-time income online, with some pulling in 6-figures.
Of course, chances are, you’ll just make a few hundred or, in the long run, a few thousand — but that’s still a net gain for an activity that already helped you achieve your financial goals. It’s a win-win-win situation.