Learning Financial Literacy from Bloggers

Every year I attend the Financial Blogger Conference. There’s something great about having 400 people gathered together to talk about finances, and improving the way they reach others with their blogs. It’s very invigourating to spend time with people who share my passions, and who are interested in personal finance as well as blogging.

Don’t get me wrong. Most of the attendees are there to learn how to optimise their sites and make more money. (And that’s a good thing. They’re practicing what they preach!) But, along the way, most of the bloggers I’ve met really want to help people get out of tough situations and avoid major mistakes. They want to improve financial literacy, and help their readers make better financial decisions.

How are Your Personal Finances?

Blogging encourages many of these folks to look at their own personal finances. Actually, many started their personal finance blogs because of their financial struggles. If you are having trouble with your own personal finances, it can help to read the stories of those who have been in a similar situation. Many of these bloggers are willing to put it on the line, and to be accountable for their financial actions. Blogging about it encourages them to make changes, and be accountable for their goals, whether it’s paying down debt or retiring by the age of 40.

Take a look at your own personal finances, and ask yourself how you might improve your situation. No matter what you are struggling with, chances are that you can find a personal finance blog from someone who has made the same mistakes. On top of that, you can also find blogs from those who have been successful in their finances. Learn from those who have a good handle on things, and you will be that much closer to improving your own situation.

Be Careful What You Implement

Of course, the other side to financial blogging is the “buyer beware” side. Even though many of these bloggers have great stories to share, and many of them know what they are talking about, you still need to carefully consider the source of your information.

Remember that many financial bloggers aren’t financial professionals (including myself), and that finances are very personal. What works for one person may not have the same effect for another. You need to carefully weigh your own situation, and recognize the differences between your circumstances and someone else’s. And don’t forget to look at other ideas from other sources as well. The great thing about the personal finance blogosphere is that there are many great ideas, and you can customise a financial plan that works for you, with the help of others.

There are many personal finance bloggers out there. Many of them are genuinely interested in helping you improve your finances, while making a few bucks on the side. Many of these bloggers are people I consider friends, and I am glad that I got to rub shoulders with them at the Financial Blogger Conference.

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Written by Tom Drake

Tom Drake is the owner and head writer of Canadian Finance Blog. While you’re here, consider signing up for the RSS feed or email subscription. Both deliver the latest articles directly to you everyday! Have a Twitter account? Then follow me for all the latest posts or to send me any comments or questions!

4 Responses to Learning Financial Literacy from Bloggers

  1. Hopefully I can go next year! It sounds like there was a lot to be learned but with it being within the first 5 business days of the month I couldn’t make it as an accountant :( . Glad you enjoyed yourself and I totally agree you need to consider the source. We write opinions a lot of the time of what works for us and it may not work for everyone else.

  2. Finance Fox says:

    Honestly, apart from my research and self-learning. These financial bloggers play a huge role in understanding of finance. They are the experts who share their knowledge to everyone for free. And for that i am so grateful to them.

  3. Glenn Cooke says:

    >>>you still need to carefully consider the source of your information.

    I’m looking forward to CPFC12 conference in a couple of weeks for the Canadian financial bloggers. (www.http://cpfc12.com)

    And you’re point about considering the source is very astute – there’s a lot of people writing about stuff they don’t know about, based on reading someone else’s blog. While I’m a big fan of blogging vs. traditional reporting, the lack of any editorial process means a lot of info gets bantered around that hasn’t been checked.

    I’m speaking at the CPFC conference, purportedly on life insurance. I’ll actually be pulling quotes on life insurance from mainstream Canadian financial blogs and proving them false or showing that they’re misleading to consumers.

  4. Martin says:

    The beauty of personal finance blogs now is that there are so many and you’re bound to find one that resonates with you.

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