In the first investor’s profile – The Silicon Valley Blogger – I got a pretty interesting conversation with the SVB. If you have not read that, better check it out. Now it’s time for the second one.
Pinyo is the cool guy writing one of the most popular blogs about personal finance – Moolanomy. He is 34 years old, married and yet another IT-mate. Besides his blog Pinyo rules the personal finance field with few other projects. To the best of my knowledge the most popular of them is also the freshest one – PF Buzz – a Digg-like personal finance network. If you have a PF related blog, make sure to submit your articles there and get targeted traffic. Unlike on Digg, you have the chance to get your content promoted even if you don’t write about Windows Vista or Paris Hilton.
Now, see what my guest has to say:
The Three Questions Blitz Interview
SI: Did the Internet change your financial situation in the last 10 years and how?
Pinyo: I have to say most definitely. First, the Internet made information more accessible to everyone. The Motley Fool was one of the first financial sites that I fell in love with. The site was both entertaining and educational. Sadly, they made too many changes to the site and I became disenchanted with it. Now, I rarely visit the site anymore.
Second, the Internet made stock trading and research more accessible to everyone. I remember the feeling of empowerment I felt after I switched from my old full service brokerage firm to Charles Schwab with online access. For the first time, it was easy to do my research, manage my investment portfolio and make stock trades.
Third, I am a web entrepreneur who earn small income from the Internet. Although this is not a huge amount of money, it certainly makes a difference in my finances.
SI Note: I tried reading The Motley Fool a couple of years ago, but it just seemed to have too much information.
It’s good that he makes income from internet, but knowing how successful his projects are I expected it to be more that “small income”. Hopefully he’s just modest, otherwise it would be a bit discouraging.
SI: Based on your own experience what are the most efficient sources of alternative income available for the regular working people? What works best for you?
Pinyo: I wrote about alternative income quite a bit on my blog. Alternative income is anything that you do to earn income away from your primary job. Personally, I think everyone should try to build alternative income streams. Here are some articles that I recommend:
- Building, Diversifying, and Shifting Your Income Streams
- 7 Key Factors to Build Successful Alternative Income Streams
- 40+ Alternative Income Ideas and Resources
- Six Streams of Income (GP)
For me, web businesses have been the best source of alternative income. It works well for me because of my technology background; however, starting a web site is definitely not the best option for everyone. You should really start with something that you are passionate about and go from there. Be sure to check out my 7 Key Factors to Build Successful Alternative Income Streams article.
SI Note: That’s truly great list of articles, thanks for sharing it!
I like that he says that web site is not the best source of alternative income for everyone. I’m really pissed off by the “make money online” bloggers who don’t stop talking how easy is to make millions online. Instead of blindly following such blogs, discover what works for you just like Moolanomy says.
SI: We all read a lot personal finance tips daily but rare take action. What is your strategy in getting things done? If we take as an example the ideas you share in your blog, do you succeed to put them into action?
I do most of the things I talk about, but they are things that evolved over many many years. There are also things that I know I should be doing, but haven’t got around to it yet — i.e., estate planning. I wish I could do more, but I only have enough time and energy to do so much in a day. So my suggestion is read what you can, then prioritize and do what’s best for you.
SI Note: Doing most of the things is much better than talking and doing nothing (like most people unfortunately do).
I really enjoyed the discussion with Pinyo, there is some real gem in his responses. You can be sure you’ll find even more in his personal finance blog. It’s good idea to subscribe by rss or email so you don’t miss anything.