Keeping on top of your personal finances can seem like a chore – perhaps you find yourself consistently running over your monthly budget, or perhaps you just feel as though you haven’t quite got the grip on things that you would like to have?
Whether you want to be more efficient and effective with the money you earn – or whether you feel like you need some basic advice on where to get started with fine-tuning your personal finances and slim-lining your expenses – getting ahead by reading some sound advice and tips can be a good place to start.
And, as with so many questions we have in life in this modern age, most of us take to the Internet to find the answer or solution.
So, to help you on your journey to personal finance efficiency and mastery, we’ve compiled a list of the top 5 personal finance blogs to get you started. From the general, to the specific, advice is at your fingertips…….
The Money Shed
The Money Shed is the UK’s largest community website with a focus on how to make, and save, money online. Initially started as a small forum for home-workers to discuss and share their ideas and experiences, the Money Shed has grown in scope and popularity.
Members range from stay-at-home mums to full-time workers looking to make a bit of extra cash.
While there is a strong focus on how to generate extra cash, the site also offers great advice on how to save money and slimline your personal finances. The blog collates articles and advice from finance writers and experts on all sorts of personal finance topics, including life hacks to keep your finances in check, and the importance of not wasting your retirement.
Pros: Excellent general advice on all sorts of personal finance topics, covering a wide range of ideas and opinions. There’s literally something for everyone.
Cons: Emphasis is on ways to generate extra cash online – if this is not something that appeals to you, the site may be of limited interest.
The Financial Mentor
The Financial Mentor is a US based website founded by entrepreneur and ex-hedge fund manager Todd Tresider.
The focus is on investing, with a heavy slant on achieving “financial freedom,” which Tresider claims he achieved by the age of 35 through clever investing.
The site is accessible and down-to-earth – like Todd Tresider himself, who calls himself the classic “Millionaire Next Door,” and dresses on the “casual side of average” and drives “ordinary cars.”
There is a great range of articles on investing for beginners, right through to pros, as well as lists of recommended books on all sorts of finance topics. Also included are a compilation of useful calculators on everything from mortgages to retirement, and a range of interesting podcasts for you to listen to at your leisure.
Tresider claims that it only takes 30 minutes per month to take control of your financial future – with advice like that it’s worth a go!
Pros: Plain-speaking, accessible articles on a range of investing topics. Great collation of finance calculators to help you get started.
Cons: The focus on business owners and investors may limit the appeal to some people looking for more general personal finance advice.
Monevator is a personal blog mainly written by the enigmatic “Investor,” with help from “The Accumulator,” and aimed at the armchair investor. The site has advice on making, saving, growing and even spending money, targeted at inspiring the reader rather than telling them what to do.
The site has a wide range of well-written articles that suggest ways in which you can make money, save money and invest money, as well as practical guidelines for managing your personal finances generally.
Pros: Easy to navigate website filled with useful advice for the “armchair investor.”
Cons: Emphasis on passive funds may not excite those with a more active approach.
The Money Principle
Maria Nedeva PhD is a Business School professor who teaches students and speaks with Prime Ministers about innovation, policy and national budgets. She also found herself with a consumer debt of over £100,000 in 2009 – proof that even the smartest people can get themselves into debt!
She paid off the debt within three years, acquiring all sorts of sound financial planning and management along the way. In six years she went from being £100,000 in debt to managing investments worth over £2.5 million – quite a turnaround!
As you would expect, her blog is peppered with articles on how to transform your finances – from motivational and inspirational stories to top tips on controlling your spending. The site focuses on four main categories: making money; controlling your spending; getting out of debt; and investing for the future – lynchpins of sound personal finance management – and all delivered in a friendly, informative style that comes from experience.
Pros: great all round advice that comes not from a high-flying investment guru, but from a clever woman with lived experience and hard won gain.
Cons: Great general advice and pointers, but not so much advanced investing advice.
The Young Money Blog
Established in 2011 to help young people get to grip with their personal finances, founder and freelance journalist Iona Bain has since gone on to win Money Blogger of the Year (2016) and act as a governor of the Pensions Policy Institute.
With a specific focus on the millennial generation, The Young Money Blog, is a great starting point for the younger generation to acquire sound financial planning and guidance.
As a young woman, Bain’s well-written and engaging blogs cover topics like women’s finances and the gender pay gap as well as foregrounding a more holistic approach to finance and the relationship between poor financial management and poor mental health (i.e. debt leads to stress).
The site is a great one to introduce to your kids to help instil a sense of financial awareness. There is a great blog entitled “Teen Week” that has suggestions for 12-18 year olds on everything from Saturday jobs to digital banking. Sound financial planning can never start too early!
Pros: Engaging and up to date information to help young people grapple with their finances and become money aware from the word go.
Cons: There’s little here for you if you are an (ahem) older person, unless of course you use it as a brilliant platform to engage your children (or grandchildren) with the concept of sound financial planning.
There are literally thousands of personal finance blogs out there to help you on your journey to personal finance freedom.
From tips for stay-at-home mums, investors and those looking to manage their debt, to the truly weird and quirky, there is a blog for just about every personal finance topic, and every individual. Have fun looking!