Over the course of the next 8 Wednesdays, I am posting interviews with the other members of the M-Network so you can get to know them a little bit better. If you don’t already read these sites, you really should check them out! To be fair I am going in alphabetical order by site name, and next up is Pinyo from Moolanomy.
So Pinyo, when did you start Moolanomy and why?
First, thank you for the opportunity to interview and connect with your readers. I started Moolanomy on July 15, 2007. There were several reasons why I wanted to start Moolanomy, the three primary ones being:
- I wanted to have a better focus on my finances,
- I wanted to have side income to replace my wife’s while she goes on maternity leave, and
- I wanted to improve my writing skills
If anyone is interested in knowing more, I wrote a post about my 2008 goals for Moolanomy which has some additional information.
How much time do you spend each week on your site?
Right now I have to say too much. I have a short attention span problem, so it usually takes me forever to write a post as I constantly shift to other tasks. Anyway, I am trying to improve my productivity by writing a whole week worth of personal finance posts for Moolanomy on the weekend. I also run a group meta-blog called Blogthority, and I try to write at least one post during the week for it. As for emails and comments, I usually respond to them after dinner each day.
On top of all that, I spend a bit of time each day working behind the scene on the M-network and the Money Hackers Network. There is also the occasional guest posting to support my blogger friends who need a few posts here and there.
For other people contemplating starting their own personal finance sites, what are a few tips you could offer them?
The short answer is go read Key to Successful Blogging on Blogthority. Basically, you should have a reason why you want to start a blog, and it helps to have passion, persistence, and willingness to pour a lot of energy into it. Just like anything else, success doesn’t happen over night.
That’s said, if you just want to start blogging as a hobby, go right ahead and start. I found it to be a rewarding experience, and would encourage anyone to try it at least once.
What are the most essential habits that you’ve formed to achieve your financial goals?
I actually have a post written about this, but it has not been published yet — hopefully, it will be published on an A-list blog soon. But I would like to summarize what I believe to be the 7 essential traits of successful people. One thing for certain, these habits helped me tremendously:
- Know what you want — i.e., have well defined goals.
- Don’t just think. Act!
- Always strive to learn more.
- Don’t be afraid to experiment.
- Build a powerful network.
- Do something you are passionate about and have fun doing it.
- Be persistent and have patience
What achievement are you most proud of in the last 12 months?
I don’t know if I can call it achievement, but the best thing happened to me in the last 12 months is the birth of my first child. Other than the wonderful baby boy, I am quite happy with the progress I have made with my blogs; especially Moolanomy, although the other two are coming along quite well.
What would you consider the single most important thing people can do for their finances?
Just paying attention to it and keep trying different things. I don’t mean go crazy and fret over every penny. Just learn about the basics of personal finance and go from there. Regardless of who you are, there are a lot of things you can do to increase your income, grow you assets, lower your debt, and reduce your expenses. Just keep an open mind and be willing to learn.
If you had to pick three of your own posts to call your “favorites”, which would they be?
This is always the toughest question to answer. Here are three that I think are good for first time readers to look at:
- Wealth Building Made REAL Simple — This one lays out the basics of personal finance and give you the framework of how to get everything under control and start building your wealth. I am planning to expand upon this post in the future and I am about 30% done right now. I am hoping to have an extensive post written about this by June this year. May be I will even convert it to an eBook that anyone can download.
- Building, Diversifying, and Shifting Your Income Streams — This one shows that there are a lot of ways to make money — i.e., it’s not only about your job or career. When you understand passive versus active income and that you need passive income in order to retire, it’s not hard to conclude that the best thing you can do for your financial future is to start building as many alternative income streams as possible. Once you are able to shift your income from active sources to passive sources, that’s when you’ll reach the state of financial independence.
- Transforming Goals Into Actions — I think this post does a good job of getting you started on the first 2 of the 7 essential traits of successful people I discussed above. It shows you the basic of goal setting and how to turn that idea into action.
Well, thank you very much for having me here today. I am delighted for the opportunity to share this with your readers. Thank you.
Thanks Pinyo! And be sure to look for the interview next week with Plonkee Money!