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Sunday, June 10, 2018

5 Things I learned about blogging from dividends.

1. It's a great way to connect with strangers about finances: This may seem funny but it's true. For some reason people you know will talk about every detail of their private family life, but they keep their finances a secret. I understand this. I really don't want people I know to have too much information about my networth. It's nice to be able to connect with like minded individuals and just talk money.

2. Take everything you hear with a grain of salt: Everyone has there own process for choosing their investments often time, they conflict with each other. What's right for one person's circumstances isn't right for everyone.  In some instances people are looking for a certain number of clicks. Be careful of that they may be posting quantity over quality. A good tell is if they are suggesting a particular stock is a great buy, but then don't invest in that stock themselves.

3. Writing it down keeps you grounded: One of the biggest aids to me has been the written aspect of this. The routine of writing and documenting my investments, helps me to stick with my strategy. It's also nice to be able to regularly check in with where I am versus what my goals are.

4. Goals are important: I heard a saying once that a goal unwritten is just a wish. I couldn't agree more. Because I have certain short and long range goals, I find money where I wouldn't normally. I'm constantly trying to build to get there.

5. The competition is only with yourself: I love looking at people with 60 percent savings rates with a goal of retiring in the next 5 years. They are truly inspiring.  It doesn't fit my desired life style or career goals. However, their are certain habits exhibited by the super savers that benefit me. I love taking a portion of what they do and incorporate into my savings plan. Frugality does matter, but I do it to my comfort level.  

6 comments:

  1. Great takeaways here Seedling! I think #2 and #5 are my favorites. Each person has a unique story, background, and reason for embarking on this journey. So there is no need to get into a competition with others or to blindly follow everything someone in the community is doing. Blogging has been amazing and I've loved the interactions and online friendships I've made over the years.

    Bert

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    1. Thanks for the comment Bert. I agree the online interactions are fantastic. It's motivating to see people moving towards their financial goals.

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  2. I also agree with the list Seedling. blogging for me has been very therapeutic and, regarding #5, it's easy to compare yourself to others, but at the end of the day, it's a personal journey and every one's journey is difference from someone else.

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    1. Dividend Portfolio well said. I have had a similar experience.

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  3. Well put! Writing everything down has been a huge benefit for me. It's kept me focused when times are slow and given me monthly benchmarks to reach to keep me motivated!

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    1. Thanks for stopping by Dividend Pig. You are so right the benchmarks are key.

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