Personal financial advice for the masses pops up more and more across major new outlets, corporate websites and blogs. Broad spectrum articles can be helpful, but sometimes input from others with experience in similar situations proves to be more relevant. For those who don’t have a financial advisor on speed dial, personal finance forums can be great resources. Forums provide a litany of advice in a relatively short time period, a boon to those looking for some quick feedback or advice online.
Real Time Answers
An increasing number of forums on the web deal with personal financial management. Online forums can provide quick and easy access to information from other people with experience in the same issue. Most forums cover a broad range of topics, while others specialize in frugal living or retirement. Both pros and cons come with the open nature of online bulletin boards. The advice may be unreliable or incorrect, so it’s always best to cross reference any advice with a financial advisor. On the other hand, consumers living on main street may be able to provide some helpful tips that are far more relevant to your personal financial situation, often having dealt with the same experiences themselves.
Keep in Mind
Any advice you receive on a public forum is probably not from a licensed professional, and should be taken with a grain of salt. For example, if user “UncleBuck360” advises you to declare bankruptcy because he believes you can recover in two years, it might be wise to double check with a registered advisor. For the most part, though, forums can be a great resource for personal finance research when combined with common sense.
MSN Money has evolved to become an outstanding and down to earth resource for financial advice. Not surprisingly, the widely read blog has spawned an MSN Money forum of devotees. Forum participants tend to take a less structured approach, and one can find almost any form of financial conundrum imaginable.
Get Rich Slowly has become a staple in the blogosphere, offering financial advice and topics to personal finance amateurs and gurus alike. The forum remains steadily active, and is a great place to connect with other users on topics like budgeting and debt management. The site also offers a place to post success stories when achieving “fiscal fitness”, which has nothing to do with lifting weights.
Wise Bread toutes itself as a guide to “living large on a small budget”. Personal finance tips, a forum for bloggers, and articles that tend to stir up conversation and controversy in the forums. The “lifehacks” section devotes itself to tips on personal development and maintaining personal financial responsibility.
The beauty of Kiplinger’s forum lies not only in the stability behind the brand, but in the broad spectrum of topics available. Participants range from 20-somethings just starting to manage student loan debts to seasoned investors talking commodities. Estate planning, charitable gifting and taxation issues also have a home on the Kiplinger Finance forum.