30 Days to Becoming a Better Investor – Day 12

Dwight G. sent me a message with an idea for the 30 Days to Becoming a Better Investor series:

You know, I did think of one topic I think that people would benefit from, and that would be how to start a personal finance blog on Blogspot or some other easy-to-use forum. There is something about putting your goals out for everyone to see that helps you focus on the goal (like Samuel Johnson’s man about to be hanged).

I definitely am NOT qualified to do that, but there may be readers that are. Just one possibility to post upon–it doesn’t even have to be for all to see. A simple “my net worth will be worth $x more this time next year” at the Thanksgiving dinner table with relatives can be a driver. You can bet a lot of people would do most things short of robbing a bank to make sure they can tell relatives the next year that they achieved that goal.

Signing up for goals are fine, but sometimes committing to them in such a public forum is more powerful.

I agree with Dwight that blogs are great tools for helping you commit to your goals. For example, I track the performance of my son’s Coverdell ESA on Fat Pitch Financials. I have learned a lot by tracking this portfolio online using a blog.

I started blogging about my investments last year using Blogger. Blogger is easy to use and only takes a few minutes to setup. I am currently using WordPress to run my blog now. You can try out WordPress for free using my current host, TheIcy.net, which offers a free blogging plan.

If you want to learn more about starting a blog, I would start with About.com’s Guide to Web Logs and Wikipedia’s entry for Blog.

Let me know if you decide to start a blog too. As a first step, if just want to write down your goals online, as Dwight suggested, you can leave a comment below detailing your investment goals.

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