This post may contain affiliate links. For more information please read the disclaimer.
I was a late financial bloomer. Right now I’m 32 years old and have grinded my way up to be financially stable after a long road of struggle. I’ll be the first one to say that without all of the other resources on the internet out there, I probably still would be terrible at managing money.
Interestingly enough, it wasn’t until I started to pay attention to my finances that I took it upon myself to learn about it.
As someone who pulled himself up by the bootstraps, I see a lot of financial blogs that provide good information but fall short of my standards. As a dirty basement kid, there are 3 things most personal finance blogs fail to accomplish.
Most Financial Blogs Aren’t Realistic
The infamous example of unrealistic advice I can think of is when an Australian millionaire told “60 Minutes” that the reason why millennials are slow to buy homes is that they spend all of their money on $19 avocado toast.
While that is an extreme example, the silver lining in comparison to most financial blogs is that most financial advice doesn’t take into account reality.
I get why having articles with generic advice helps, it’s very simplistic and leaves a reader thinking, “Hey, I can do it” but that often ends up not doing it because it doesn’t address follow-through.
They Often Neglect A Poor Man’s Perspective
Sidenote: I do love the blogs that track progress as a motivator for others.
“Poor”, “Poverty”, “Lower Class”, and even a good portion of “Middle Class” folk have dealt with some sort of serious financial strain in their lives. Because of that, most blogs often focus on tactical solutions that don’t target these audiences.
Even some of the most often heard advice doesn’t hold water for long.
- Cut expenses (Some people often have trouble acknowledging actual expenses, or that it’s already cut and it’s not a solution)
- Get an emergency fund (yeah, super simple. Let’s forget the fact that 38.1% of households carry some sort of credit card debt. And those with $0 or negative net worth have an average of $10K in CC debt).
- Put money in your company’s 401K they match (good advice, but being poor is heavily correlated with the lack of money. In my experience in nearly being homeless twice, living is often a higher priority than saving money).
And for future reference, there is a MASSIVE difference between being broke and being poor. I will admit that the biggest value in financial blogs is that it often does bring great value to the broke and the financially stable.
Most Financial Blogs Are ‘Squeaky Clean”
Some of the most useful financial advice I’ve received and have practiced over the years have been exploiting loopholes and measuring the risk/reward over making certain financial decisions.
I’m not talking about investing in bitcoin or cryptos or any of that stuff. Technically you can live rent free if you do house squatting and repeat the process. Hell, when I first moved in with my girlfriend (now Mrs. Debt to Dough) we lived below a drug dealer in a roach-infested apartment. He didn’t have secured wifi so we saved about $400 while we lived there for 6 months.
The point is, in an ideal world I would’ve loved to follow more ethical practices when I was dirt poor.
As For Debt to Dough
I’m going to try to do my best to connect the dots on all aspects of finance that would be relevant to me and the same me of 2008. Probably 85% of the articles will be more sound, while the other 15% will probably be more on grey area. I think I’ll call those articles ‘bastard finance’. I think that sounds good, what do you all think?
- Credit Cards With A Purpose – A List of My Cards
- 60+ Financial Signs You Are Moving Up In The World
- 6 Tips To Successfully Budget As A Couple
- Make $1000 Month Doing Surveys: The Ultimate Guide