Personal finance often serve as great resources for those seeking to build wealth and improve their financial standing. The best bloggers offer practical advice and actionable tips while creating a welcoming community for anyone interested in money matters.
Another way bloggers help is by leaving all their details on the table. Money used to be considered a highly taboo subject; now, in the open, highly accessible digital age, we can see real-life examples of the where, what, when, why, and how of other people’s finances.
This is helpful because it provides us with a benchmark. But it can also be a little frustrating, because it’s all too easy to fall into the comparison trap.
It’s easy to get down on yourself and your own finances when you compare your net worth with personal finance bloggers who bare it all — and feel like you’ve come up short. Way short, in some cases.
This is especially frustrating when you feel like you’ve already tried to make an effort to increase wealth: you’ve cut overpriced services like cable. You’re paying down your debt so you stop losing money to interest. You’ve increased your retirement contributions or have moved some of your liquid assets into investments so they can start earning you a return.
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What else can you do?
If you’re feeling stuck on the progress you’re trying to make to increase wealth, you may need to consider wanting less. [Read more…]