Blogging Your Way to Financial Discipline

A google search for ‘financial blog’ got me thousands of blogs, a lot of which tell one persons story of how they will reach their financial goals (reaching a target net worth, getting out of debt etc.). Some of these people actually list out all their holdings in all their accounts (e.g. Neville’s Financial Blog, Beachgirl’s Budget Blog) and a lot just post their networth and/or debt to publicly track their progress (My Open Wallet, Lazy Man and Money).

Personally, I am a little too paranoid to list some of this information online. There is already enough information about me lurking around. But in defense of these blogs, publicly posting how you are doing can be a really great form of discipline to budget, save and otherwise reach financial and other goals faster. I think maybe I can achieve the same without posting $ amounts. Parchayi and me are at about 2.5% of my target net worth for us in liquid assets (i.e. not counting house, car) at retirement (25 – 35 years away). Goal for 2007 is to be at 3.5%. When I get the time I’ll make a graph on the side with progress.

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