How many personal finance blogs can survive out there in the interwebs? You can find anything you are looking for with a quick search of google, and personal finance has had somewhat of a renaissance lately. In fact, sites geared toward it seem to be a dime-a-dozen.
There are personal finance blogs about everything. Saving money, making money, making money on the side, investing, paying off debt, student loans… the list goes on and on.
Likewise, personal finance blogs geared towards doctors and other high-income professionals are popping up all over the place as well. These typically have the same focus as the “regular” personal finance blogs – money, investing, debt, etc. – but are geared towards higher earners and usually have a bit of a slant towards them when it comes to topical information.
The “doctor-oriented” niche of personal finance sites are where we spend most of our time. They usually speak to us on a more personal level than some of the more generalized finance blogs do, but both types have their place.
In our opinion, any given personal finance blog is worth our time if it satisfies at least one of the following criteria:
- It’s entertaining.
- It’s educational.
- It’s inspiring.
- It forces us to think about something in a way that we haven’t before.
There’s plenty of sites out there that fit the criteria outlined above (and at least one which explicitly states its mission is to fulfill the first 3), so why are we even wasting our time trying to make another?
The simple answer is that feel like we have something to say.
Following the Leaders, and How We’re Different
We see ourselves in a unique position: We are a married doctor-couple with a lot of student loan debt and combined salaries that may or may not be considered high (or low) for healthcare professionals. We live in the Midwest and by most accounts are living “rural”. In some ways, we think this site can give a perspective that other financial blogs – specifically, financial blogs aimed at high-income professionals – don’t.
One thing I’ve noticed as I’ve spent time on these amazing sources of knowledge is that there seems to be a common theme: Many of the most successful authors, the ones I’ve been following for years, are already debt-free or financially independent, or close to it.
As we followed these awesome sites and built our financial knowledge thanks to the hard work those authors put forth, we began to realize something: While those blogs are full of incredible content, a lot of their articles are written (justifiably) from a “been there, done that” perspective, rather than a “living it now” perspective. That’s not to say that they are dismissive of their content or their readers; it only means that they’ve already accomplished some major financial goals, and they are able to tell us how they did it.
And let us be clear: We’re not saying that’s a bad thing! If you want to be something, learn from those who have already achieved the goal. When trying to take care of your finances, you could certainly do worse than follow the advice of financially independent high-income professionals! Still, as I’ve followed those sites throughout the years, there’s been that nagging feeling that we’re so far behind the authors in our personal finance goals we may never catch up.
And that’s where this site is different. We are living the indebted life right now. We are 6 years post-grad from two high-debt, supposedly high-income professional school tracks, and we are still struggling every day to get to that light at the end of the tunnel as fast as we can. Instead of telling you how we did something, we are going to tell you how we are doing things.
What this Finance Blog is Not
This is not going to be a personal finance blog that focuses on the hard math (although some numbers will be required). It shouldn’t be the first site to come to when you have a technical question about how to do a Backdoor Roth IRA. It’s not the place to start if you are looking for a step-by-step tutorial of exactly what you should do with your money at any given time to minimize your tax burden when you hit retirement. If you’re looking for a physician’s perspective from someone who also has a history of working on Wall Street, you’re in the wrong place.
The technical side of personal finance, the in-depth number crunching, the complicated spreadsheets and rate-of-return algorithms; these are things that the blogs we already follow excel at, and although we’ll touch on them (and even get detailed sometimes), they won’t be our focus. This blog, if it works as intended, should act as a supplement to the other personal finance blogs you already follow. If you don’t follow any yet, you’ll become familiar with many of our favorites as we talk about them here on our site.
Ultimately, what we hope to achieve here is akin to an online get-out-of-debt support group. When you’re trying to reach a goal as life-changing and intense as we are, you need a lot of encouragement! It can’t be understated how impactful it can be to see other people succeeding while going through the same struggles you are, and hopefully we can inspire you when you run into difficult obstacles of your own!
So, if you like what you’ve read so far, stick with us for a little while. In the next few posts we’re going to really dive into the specifics of our student loans so you can compare ours to your own and see how you’re doing.
What financial blogs do you already follow? Let us know in the comments!