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The Importance of Helping Each Other With Financial Problems

By Erik Folgate

I was reading this article by Jeffrey Strain from TheStreet.com and he gives five ways to help other people with financial issues from your own personal experiences with managing your money. One of the things he listed was starting a personal finance blog. This is what I did two years ago, and my goal was not to act like I knew everything about money and I wanted other people to know it, but I had a revelation about money. I made a 180 degree change about the way I managed money, and I wanted to share that with other people. My goal for this blog is not to see how much money I can make from it, if that was my main reason, I would have stopped a long time ago. My goal is to help other people with the things I have learned about money and research the things you want to know about. So, if you do learn anything here, please don’t keep it to yourself. Share it with someone else. With the housing market going down the drain, gas prices continuing to rise, and the economy on the verge of a recession, people need help with their money!

Here are the five ways you can help others with money according to TheStreet.com:

  1. Pass Along Books and Magazines.
  2. Participate On The Internet
  3. Start a Financial Blog
  4. Start a Personal Finance Study Group
  5. Start a Finance Book Club

Passing along great personal finance books is a great way to help someone in need. Think about all of the books that sit on your bookcase and collect dust. Recycle the book and give it to a friend or family member that you think might benefit from it. Participating on the internet is also a great way to help others. I have made a big effort in the past year on this blog to facilitate an environment where you all participate more in what I write. When you agree or disagree with me, I want to hear it. When you have something else to add to my article or a personal story about the topic, we want to hear it. I have learned more in the past two years about personal finance from the comments you all write, than any book I have read so far. I believe in the power of learning from other people’s failures and successes. After all, it’s just money, so don’t be shy about telling your financial blunders and your financial success.

If you have a story about how you recently helped a friend or family member with their financial situation, I’d like to hear about it in the comments section.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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