Why now is the best time in history to be a personal finance blogger and what the future may hold for the industry!
The finance world is ever-changing, and the future of personal finance blogs will inevitably differ from the present. The past few years have given us a preview of trends that may soon take hold, such as blogging on platforms like Facebook and Snapchat. With the recent increase in interest around financial literacy, stories about women’s finances are increasing in popularity — which has been demonstrated by bloggers like Manisha Thakor. Additionally, there has been an increase in “anti-blogging” blogs ― blogs that prioritize authenticity instead of following social media conventions. Truth is, there is a lot of variety and the future will have an even wider array of flavors of personal finance. Does that mean that there are too many and that you should give up? Quite the contrary! In our experience, we’ve seen that people love to consume content around money because it is one of the most common challenges that nearly everyone has.
Who are you? Do you have anything to say? What are your passions, and what are you an expert in? Why do you want to start a blog on personal finance? Is there a gap in the market for your product or service that hasn’t been filled before? If you have all of these questions answered, here’s what’s next:
Get an idea for your blog. What are you good at? You need to be able to create a clear vision for your blog and the way you will structure and organize it, and you also need to know exactly who will be reading it. What are the demographics of those who read your post? Who is your target audience? What age group are they in? Do they live in urban or rural areas? The more information you can start with, the better. Depending on where you want to focus your blog, there are plenty of ways to dig into that data (e.g., Twitter , Google Analytics, Google Keyword Planner ). The next step is to figure out a bunch of related keywords that will help you make sense of the data. Let’s say you want to focus on single mothers with children in urban areas. The first keyword may be “single mother” and the second could be “urban area.” A good way to come up with these keywords is by using the keyword suggestion tools like the Google Keyword Planner and other free tools like Uber Suggest or Keyword Tool.
What are some of the top trends for personal finance bloggers in the future?
Here’s what we think:
1. Video is increasingly important, especially on Facebook
Since posting videos on Facebook became popular, many bloggers have taken their once-text-based blog and turned it into a video-blogging empire. This has been seen as a positive trend because they are able to reach a wider audience and tell their story in different ways. As technology improves and video becomes even easier to produce, this trend will continue to grow.
2. Blogging will become part of a larger brand
We predict that bloggers will not only have a blog on their website, but they will establish their own website and build platforms off of that. For example, someone might have a blog about personal finance, but also create online classes or offer products to help people with financial literacy. Currently this is done on YouTube by some of the top finance YouTubers (see The Side Hustle Project), and we think it will begin to be incorporated more into blog content as well.
3. Women will lead the way in blogging
As women fill the leadership roles throughout our society, they will take their financial education to the next level. This trend is already starting, with many women pursuing finance degrees and finding success as finance bloggers, such as MoneySavingMom.com.
4. Collaboration will be more important than ever before
We are seeing a growing trend in collaboration between bloggers, financial planners, advisors and insurance specialists (see What is an insurance specialist).
5. The financial gap between generations will start to close
People are living longer and need more money available for retirement. This makes it increasingly important to build strong relationships with your family and friends, as well as your children. It seems that the younger generations are more interested in financial literacy. All of this equates to an opportunity for personal finance bloggers, since developing relationships with younger generations is key to surviving long-term.
Personal finance blogging will continue to be a great career opportunity for people who are interested in writing and who have something to say about money. It’s an opportunity to reach millions of people, and form new relationships along the way. If you want to start blogging, look for the market gap that you can fill.