Yet another Singapore finance blog bites the dust. SG Young Investment is the latest local finance blogger to take a hiatus. This followed hot on heels the announcements from 15HWW and Cheerful Egg, who are taking a long break from blogging.
Whenever such depressing news surfaced, I am always affected emotionally, spiritually and mentally. This is because when you have people leaving the scene, it is never a good thing. How can we build a vibrant ecosystem when you have players exiting one by one? And we are talking about good players, not mediocre ones.
Although the exodus of finance blogs is not new, it highlights the fragility of the finance blog fraternity. Over time, if we are not careful about it, the community of finance blogs may become a thing of the past. Is this what Singaporeans want? I always believe the sum of parts is greater than the strength of a person. In this regard, I would like to share the story of the three thirsty monks.
The three thirsty monks
Once upon a time in China, there lived a young monk who lived in a temple high up on a mountain. Every dawn, he had to wake up very early and used a pole to fetch two pails of water from a well located at a far-away valley. It was a tiring job and the journey up the mountain was especially daunting.
Then one day, another young monk came to join him. They were willing to go and fetch the pails of water using the pole together. Following this, a few months later, a third monk came to join them. But this time round, none of them was willing to go fetch the water anymore. Subsequently, the three of them ended up very thirsty.
One night, a rat entered the temple and knocked over the candleholder, causing a massive fire in the temple. The three monks realized that they must unite together and made an effort to put out the devastating fire. Since then, the three monks realized the saying of “unity is strength” and then lived together harmoniously. Eventually, the temple never lacked water again.
Drawing on the lesson from this Chinese story, I always believe the collective effort from the finance bloggers is always greater than individual brilliance of a blogger. Thus, it is my wish that this community remains sustainable because together, we can achieve great things.
Finance bloggers taken for granted
Very often, I do feel that local finance bloggers are taken for granted. People expect us to churn out quality and well-researched articles weeks after weeks but yet do not want to reward our efforts. On the other hand, financial institutions also expect us to promote their products and services for free. What have they been smoking?
Look, most of us hold day jobs trying to make ends meet. Needless to say, we also sacrifice plenty of precious time to do research and craft out insightful articles. So obviously, we would want some form of tangible rewards for motivation. Of course, it is not all about money. If your starting point is to make money out of blogging, you would never be successful. And then there are many local finance bloggers who don’t subscribe to the notion of monetization because of their guiding principles.
But over the long-run, if deserving bloggers are not rewarded accordingly for their works, the finance blog community will not be sustainable. Sooner or later, this movement would just die a natural death. This is because commitment and dedication go hand in hand with monetary rewards. The point I am driving is that finance bloggers must be motivated and feel appreciated. Otherwise, it is only a matter of time that they fizzle out.
Values defined us and our legacy is defined by our values. Generally speaking, I believe most finance bloggers’ goal is in sharing their financial knowledge with the others through their blogs.
People blog because they are passionate about certain topics and have the burning desire to express themselves. The same applies for finance bloggers. We blog because we are passionate about personal finance and investments. Most people deem this as a form of hobby but I view it more of a personal mission.
As a serious finance blogger, it is my desire to effect positive changes among readers. Therefore I created this blog, SG Wealth Builder, with the aim of sharing my thoughts on various money-making, investments and wealth building ideas.
The objective is to engage Singaporeans on topics related to personal finance, shares, career management and gold bullion. Through the exchange of views, my belief is that Singaporeans’ financial competencies will be enhanced.
Solve problems for readers
I still remember the time when a member messaged me to request for an article on “Accredited Investor Scheme” before she attended an investment seminar. And then there is the email from another member wishing to find out whether inheritance property attracts additional buyer stamp duty. Through this blog, I had addressed their queries, providing me a deep sense of satisfaction and fulfilment.
To build a successful blog, one must not only provide engaging contents continuously, but also useful contents that enable other lives. This is not an easy endeavour and requires much commitment. To maintain the tempo, it is essential to keep an open and curious mind. As a matter of fact, I am still learning the rope on how to be an effective wealth builder.
As the old guards of financial bloggers leave the scene, new blood will come in to replace them. But whether the fire will keep burning is another big question. Perhaps more talented folks would step up and contribute to the community in the near future. Or maybe, the whole community would just fade away soon. In any case, I hope to do my part to ensure the continuity of this movement.
As Chinese New Year is approaching, I would like to end this article by wishing everyone a Happy and Prosperous New Year!
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