8 Lessons From One Year of Financial Blogging

Greg & J
We launched The Money Vikings a year ago with the goal of learning more about personal finance and increasing our net worth. We actually started as milliondollarnetworth.com and I posted a picture of mermaids finding treasure. I know, very silly, good thing I do not take myself too seriously! 🤪 A couple months later we decided to call ourselves Money Vikings and to share our journey to “conquer financial freedom” and achieve FI! For a full year, week in and week out we have been studying personal finance, investing, saving, practicing frugality, looking at statistics, etc. to crack the code on achieving financial independence. So, what has a year of doing this taught us about how to live a life of “True Wealth” and increasing net worth? Neither Jerry or I are new to investing and personal finance, in fact we have a couple decades now under our belts and continue to learn more.
We have found that investing is largerly a mental game forged from establishing good habits. The good news, this can all be hacked and learned in your favor.
Continuing to learn is one source of inspiration. There have been more wins than losses, but we are always on the journey. Here is what I have learned and/or reaffirmed after a year of learning and writing:

1. Keep it simple

Humans have a crazy way of taking straightforward simple things and making them complicated as hell! I am no psychologist therefore I have no idea why this is, but I see it again and again. When it comes to investing and personal finance, the simpler straightforward plan usually wins the day in terms of net gains. This is why we enjoy investing in balanced 401k’s, solids Dividend stocks with long track records of success and real estate. Yes, we may play around with options and crypto, but that is not where the meat is, that is what I would call entertainment. In addition, I have realized the math for financial independence could not be simpler. Stay out of debt, save as much as possible automatically, keep fees low, etc. Do this for many years in a row. Then one day you realize there is a nice nest egg created that can safely spin off income for a long time. Bottomline: It is ok to be conservative and build slowly one brick at a time. RELATED: 7 PASSIVE INCOME MACHINES

2. Just do it, stop waiting for the “perfect” time

Just start investing. Sign up for the company 401k, start saving for a down payment, pay extra on that debt, just start your path. People in the FIRE community are not waiting for the “prefect” time to do things, there is no such thing. I also think timing markets is silly, we are ready when we are ready. For years I wanted to start and create a personal finance blog like The Money Vikings. Finally Jerry and just decided to do it!

3. Money is an energy, you either repel it or attract it through small intentions

This is going to sound spiritual, but I believe if you respect something and care for it, more of it comes to you. Do you respect money and resources or not? Try thinking about the respect you have for your effort, time and skills. If you are getting up each day and giving things your best shot with a positive attitude, then consider yourself a success and blessed.

4. You can become an “Expert”

If you emerse yourself in knowledge on specific subject you may be surprised at how proficient you can become at it. Many people are scared of money management due to lack of knowledge. One nice thing about blogging about money is that you learn so much and can apply that knowledge.

5. Learn from others, for free!

There are so many amazing personal finance blogs out there, and they are providing their knowledge and experience for free, talk about a bargain. I think this is more valuable than an expensive MBA in some cases. You may need to click through some ads, but who cares, it’s valuable and free information.

6. Learn what you want

Blogging has helped me realize more about what I am striving for in terms of financial independence. Writing down your thoughts and plans can help sharpen and focus the mind.

7. Find your money making machines

Finally, a year of blogging about money has exposed me to dozens of different money making machines that people use to invest. Find the ones that interest you. Perhaps you are more of a hands on real estate person? Perhaps you enjoy the concept of dividends and finding high quality companies? Perhaps you enjoy the side hustle routine? Find your niche and go for it!

8. A final thought

It is really not about money. It is about time, resources and taking care of your family. Money allows us to not only pay for the bare neccesseties, but also the little extras that add a lot of texture to your life and your families experiences. To me, sound money management is about respecting yourself and resources. We have so much energy, try and use it wisely each day! A final final thought. It is better to build wealth with friends and a support system. Choose your friends, associates and family wisely. They can have a huge impact on your ability to build wealth. Are you all on the same team? If so, this can be the most powerful true wealth building strategy of all!

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