As a mom of two adorable kids, juggling part-time jobs, and managing a household, the need to be financially smart is ever-present.
Like many, turning to personal finance blogs for guidance is a common practice. But here’s the thing — not all advice fits every shoe.
So today, let’s delve into how you can read personal finance blogs in a way that’s beneficial to you.
Choose What Steps You Need to Focus On
Prioritize According to Your Needs:
Finance blogs often cover a vast array of topics from saving, investing, to debt management. But remember, you don’t need to implement everything immediately. Prioritize what’s most important for you at this stage in your life. Maybe you need to focus more on budgeting or perhaps, it’s the right time to delve into investments.
Avoid Information Overload:
Don’t overwhelm yourself by trying to absorb everything. According to research, information overload can actually hamper decision-making. Make your focus laser-sharp to reap the maximum benefit.
No One’s Financial Situation Is the Same: Make It Yours
Tailor the Tips:
Financial advice is often general because it’s meant for a broad audience. Always adapt the advice you read to your specific situation. Whether it’s geographic differences in cost of living or specific financial obligations you have, make sure to tailor advice to fit your unique needs.
Consult Professional Help if Needed:
Sometimes it’s okay to consult professionals for more tailored advice. A 2019 study found that 40% of Americans who worked with a financial advisor felt more at ease about their financial future.
Give Yourself Grace
Avoid the Comparison Trap:
It’s easy to fall into the pit of comparing your financial journey with the blogger’s or other readers’. Remember, everyone has a different starting point and it’s okay to move at your own pace.
Celebrate Small Wins:
Whether it’s sticking to your budget for a whole month, or setting aside a tiny amount for savings, celebrate those small wins. They make a huge difference in the long run.
Go Beyond the ‘Money Talk’
Embrace Generosity and Kindness:
In our pursuit of financial stability, let’s not forget our core values. A 2017 study found that acts of generosity, even small ones, boost our emotional well-being. So, allocate a portion of your budget for giving back.
Double Check and Validate
Seek Multiple Sources:
Before you act on any financial advice, it’s wise to cross-reference the information. Personal finance is a huge industry, and unfortunately, not everyone is an expert.
Check Dates and Updated Information:
The financial landscape changes quickly. Make sure the advice you are reading is current. Policies change, interest rates fluctuate, so always double-check the date on the article.
Personal finance blogs can be an excellent resource, but remember that their advice is a guide, not a guarantee. By following these tips, you can sift through the information in a way that’s meaningful and applicable to your individual life. So, happy reading and even happier saving!