I was perusing the March 6th edition of Business Week when I came across a page entitled “Follow My Money”, an article about a host of young bloggers who have opened their finances for all to see and learn from. It’s a fascinating change from the time when personal finances were just that – very personal – and people all took their lumps the same way, by committing the same mistakes and bouncing back.
One section of the article details a 27-year-old guy, Jonathan Ping, who lives in a rented house in Portland, Oregon, with his wife and dog. His blog details his trials and tribulations as he moves from graduation with $500 in the bank in December, 2004, to his goal of financial independence and $1 million net worth by the time he’s in his mid-forties. Sure, it’s a lofty goal, but he’s on track to meet his objectives.
I checked out the blog and was fascinated by his depth of analysis, given that he’s not a financial guru nor a financial planner of any kind. He’s just watching his expenses with the help of his dedicated readers, who come in droves to offer their advice and see what Jonathan is doing next. It’s a captivating read!
Jonathan isn’t the only one doing this, either. Check out: moneyblognetwork.com, myopenwallet.blogspot.com, and savvysaver.blogspot.com for some different takes on saving and spending. Even better, check out pfblog.com to see someone who’s really trucking toward financial independence.