At Equities.com, we’ve always been focused on building an active community among the leading voices within the world of finance. However, as with many other fields, in recent years, we’ve noticed a significant shift away from traditional sources of news, tips and predictions, and toward the growing number of financial bloggers.
In this series, we profile some of the most distinct and noteworthy voices in the world of financial blogging. Here, you’ll find our recent interview with David Ning, the founder and editor of MoneyNing, launched in 2007, and a published author, entrepreneur, and father. Read below to learn about and the importance of practicing disicpline when managing your money, and the incredible long-term value of index investing.
EQ: What inspired you to start MoneyNing?
Ning: I really wanted to start a site, but in the beginning, I never actually had a topic in mind that I really felt comfortable committing to. After toying around with different themes, it struck me that I could do a lot of good creating a site that discusses everyday money issues, because there are many people who find saving and managing their finances to be very challenging. Plus, saving and earning more is a topic that’s near and dear to my heart.
EQ: What differentiates MoneyNing from other financial blogs?
Ning: One of the biggest difference of MoneyNing is that it’s been around since 2007. Readers can easily go back to the beginning to read articles we were writing before the financial crisis and realize that personal finance advice works in the boom years (2007), the lean years (during the economic crisis), and everything in between.
EQ: Have you always had a knack for managing money? How did you learn to effectively manage your own finances?
Ning: I cared about increasing the value of each dollar early on, even though I started out knowing little about how to manage money efficiently. Luckily, the most important piece of the puzzle is saving, which combined with time and investing, can work wonders. There’s no secret source for learning this stuff. You just have to keep learning and applying what you know. This will take work but let me tell you that it’s soooo worth the effort.
EQ: What is your long-term goal?
Ning: To continue to help more and more people be on track to achieve financial freedom.
EQ: What sort of features will readers of MoneyNing find to help them achieve financial freedom?
Ning: At the end of the day, financial success will boil down to the habits that you adopt. The more you read sites like MoneyNing.com, the more likely you’ll start trying some of the strategies being discussed and the better the chance you’ll be on the right path to be financially free.
EQ: What stocks or investments do you find particularly interesting right now?
Ning: We are big fans of index investing. Without going into too much detail, all I can say is that it works. Following the passive strategy while using the time saved to optimize taxes and other ways to earn/save more has put me in a very good financial position.
EQ: How does index investing differ from other investment methods?
Ning: Research shows that an investor trying to time the market, trying to pick winning investments end up underperforming one who simply buys an index fund and holding onto it for an extended period. The kicker is that these studies don’t even account for the fact that index funds are much more tax efficient, meaning the after tax returns, the results are even better for an index investor. This is not to say that you can’t trounce the market picking stocks or getting in and out at the right time, but the odds are stacked against you.
EQ: If there was one piece of advice you’d like to impart to your readers, what would it be?
Ning: Find your “why” when it comes to improving your finances. Once you know precisely the reasons you want to build wealth, then it’s much easier to motivate yourself to find a way to achieve that goal.
EQ: Have you found that the financial blogging landscape has changed in the years since you began?
Ning: There are definitely more sites out there now, as well as more professionals starting their own site to build even more credibility. There’s definitely room for everybody though!
EQ: Is there anything else you’d like to share with our readers?
Ning: The concepts of personal finance are simple, but implementing them aren’t easy because it takes tremendous discipline. Find a source that encourages you to do what you already know you should do, and you’ll be on your way.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer