I like keeping up with basic personal finance fundamentals, learning about them, keeping up with trends, applying them and talking about them.
There are various levels within this subject matter, and as I have seen the trends change over time given the introduction of new products and services, the basic personal finance fundamentals have not changed and arguably will never in the future.
It is overwhelming for me to observe the number of individuals that reach out to these professionals for help, and how the core of the responses mostly boils down to two basic concepts:
1) Save more and spend less, or spend less than you make
What’s the difference anyway?
2) Develop personal discipline to save steadily and consistently over time
These two are IT and it frankly doesn’t get much simpler than that. Sure there are ways to expedite building wealth, strategically cutting corners and developing advanced “money smarts”, but I consider all these icing on the cake. Change starts from within, and the discipline, or commitment to saving is most core or fundamental to changing our financial situation.
Some may say basic personal finance is common sense, and I would agree that it is. Yet so many experts are making a very good living reiterating the same message in different variations.
Many blogs online are doing very well discussing personal finance. Maybe it is not common sense after all? I do know however that these basic personal finance fundamentals were true yesterday, are today and will be tomorrow.
The subject of personal finance is not rocket science in my opinion. Yet we have a hundreds of personal finance blogs because millions have no control or poor control over this important aspect of their lives.
Readers: Am I out of line in my rationale? How has your view of basic personal finance changed over the years? What contributed to that change? How would you further simplify the fundamental message behind personal finance to someone new to the topic?Previous: Lucrative Ways to Make Money Online Without Owning a Website or Blog