Posted by Tim Stobbs on August 17, 2012
So I was reading the other day this question over at The Financial Blogger: why are so many personal finance bloggers broke?
It was a interesting question, but in reality I think it reflects the world at large. A lot of people have low incomes, high debt loads and ya, obviously are broke. So I suspect there is a fairly good demand for reading stories about people that manage to over come that debt and move on with their lives.
I know I’m not normal. I’m in my mid-thirties with over a half a million net worth and I made six figures last year, so I’m definitely not broke. Yet I’m trying to get to a level of freedom in my life that I hope is somewhat inspiring, hence I keep writing on this blog. In the end I suspect people read blogs because they like the stories that go with them. Personal finance in fact is damn easy: spend less than you earn. Save some, keep your investment costs down and avoid consumer debt. Done, you now know just about everything you need to about personal finance.
Now that is fairly damn boring, so learning about people’s lives and their stories create meaning for others and allows some people to learn the emotional content that goes with those basic lessons. Spending less than you earn sounds easy, but is it ok to spend more than you earn for more education, visiting a sick family member or buy one of your life’s dream experiences?
The black and white of the original statement falls away to the real world of grey. There are no right answers, just the answer you give to the problem and the consequence of that choice. Our lives are in fact the sum of the consequences of our decisions. I know some people don’t particularly like my lifestyle which is fine, I’m not asking them to live it.
So in the end, yes some PF bloggers are broke and it’s ok. It’s also ok to have an excessive net worth for your age. We read both for the stories they contain and hopeful find a reflection of ourselves within the stories of others and realize…no I’m not the only one that has ever gone through this issue. We aren’t alone is a good story to hear.