Hello, and welcome to this weeks review. This is a truly enjoyable article to write each week because I think it’s important to follow as many personal finance blogs as possible in order to make informed decisions about your finances. Though personal finance bloggers are further down the road financially then others this doesn’t mean that you should follow every word they say, instead you should listen to many advisers, take in all the information and then make the best personal decision for you.
So here I discuss the top 5 articles from the week that I will take something away from, that I will implement in my life. What you find in these articles might not apply at all to you or your situation, or it may apply more so than in mine. It’s my hope that you decide the best course of action for you and then live the future life that makes you happy.
So without further ado, in no particular order here are my top five picks from this week.
1.Generating Passive Income From Your Blog on Your Personal Finance Pro
Melissa always seems to deliver the best content. As you all know it is my goal to make a living by working for myself and not for someone else. This blog is one of the ways I intend to do that, so anything that can help me make money from the blog is something I’m eager to read.
I have already mentioned and decided that I would not be putting up google adwords up on the site. I just don’t think they will add anything to the site, plus I have no control over what is advertised. I will be putting up banners with affiliate links, as well as a resource page that has affiliates in order to monetize the site but ONLY if I truly feel it will add benefit to you.
2.No Wonder Why Millennials Don’t Give A Damn About Money! on Financial Samurai
Being a Millennial myself it always intrigues me when I read about how foolish many in my own generation are. Some, and I think most, are doing well. We think about the future in a reasonable way, plan for it, and are going to live good lives.
This article talks about a study done that shows just how out of tune with reality we can be though. Most in the study felt they were only going to work 15 years in their life then retire… if you save a lot of money this is completely attainable. However, they also think they can spend well over $8,000 a year on vacation, never make over $100,000 a year and still retire after only 15 years. Most in the survey felt they would receive a 1.2 million dollar inheritance or larger.
My father reads this blog, so to him, please please please leave me 1.2 million dollars. I’ll even take half now and forgo the rest if you want. Truth is coming from the family I do where we never really had money, I may just get a bill when my father dies. I thought most everyone was in the same boat as me, but according to this study, I’m in the minority.
3.Freelancing 101: How To Make Money Online! on Millennial Money Man
I keep bringing freelancing up, this is because I have done so much reading on it, spoke with people who do it, and can’t imagine anything else I would rather do. This article gives such great advice and even though I have already got some good advice more is always better. I plan on making some serious changes in order to start/further my freelancing career.
4.Multiple Incomes – 2016 Update on Freedom 35
For years I thought that if I had a good job that it would care for all my needs, and truthfully that can be true. But I have now realized that the better course, at least for me, is to create multiple streams of income.
For instance take my $3000 a month goal, if I were to have a job that cares for that amount that would be awesome. If, however one day I lost that job I would be down to $0.00 a month and even though I would hopefully have a emergency fund set up and would be able to find another job.
Though if I have 6 incomes that make me $500 a month and lose one, I just have to learn how to live off of $2500 a month until I can find a new income stream, therefore this to me is a much better option.
This article is kind of a look into the future I want to have when it comes to income streams.
5.Eliminate Your Car Payment on Saving Scotts
Paying off my car last year was a huge burden off of my shoulders, and now that we only have one car payment we have started adding more money to paying down the rest of the debt. This article is awesome because it gives some great advice on how to get that payment down faster than simply paying the minimum.
In Case You Missed These
And from My own site this week we have
It has been a busy week in some instances and a lazy week in others. I got a lot of work done for the site, got ahead on some blog posts and sent out some emails trying to get some help with a few things around the site that I don’t know how to do.
I have though not been driving for Lyft nearly as much as I should have, or following my desired and usual morning routines. I need to reevaluate my main goals and make sure that I’m doing what will bring the most benefit.
How was your week? Did you accomplish all your goals? Any blog posts that I missed that you think would be good to read? Let me know in the comments.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net