Personal Finance Bloggers Cause US Retail Sales To Plunge!
May retail sales drop 1.2% or the most in 8 months as more and more people turn to personal finance bloggers for frugality advice! I’m pretty certain nobody has ever come up with this statement, but think about it for a little bit. Why is it that the public should take personal finance advice from BusinessWeek, for example? The articles are written by relatively well-paid writers who are on a mission to report the news. They do a fine job at that, but perhaps not as fine a job making things visceral like the personal finance community. What’s more personal than a real person like Jeff delivering pizzas to get out of debt? Not much!
It’s very hard for the mass media to compete against a team of personal finance bloggers such as the Yakezie. We’re real life people responding to comments and putting ourselves out there. There’s a two-way street with us. If I were Editor in Chief of any mass media publication, I’d go out and hire an bunch of influential personal finance bloggers and put them on my payroll. $75,000 a year will do or perhaps $150,000 a year if you want us to write an article a month exclusively for you. By doing so, the Editor will inject new life, new readers, and therefore a wealth of new advertising dollars to the publication.
As evidenced by May’s retail sales figures, we are creating the news with our frugal ways instead of just reporting the news. There’s a movement underway, can you feel it? Maybe we’ll band together and talk about how we should never buy new cars again, causing June’s new car sales to dip. Or maybe we’ll discover how amazing one person’s unsung journey is to fight poverty in Uganda and direct millions of dollars their way. That counts for something. Let’s make a palatable difference with the words we write. Someone is out there listening.
Have a great weekend everyone!
Sam @ Financial Samurai – “Slicing Through Money’s Mysteries”