Manifesto

Krugergold finance is a young blog, started with verve and enthusiasm at the start of 2007 to address several perceived needs. Hopefully it’ll be of assistance to some people out in the wilds of the internet, wondering what to do next in their journey of personal and financial enlightenment.

1. The Next Step in Personal Finance
The first step on the personal finance journey as I see it, is to eliminate any bad debts. By bad debts I mean the debts that were probably incurred over stretching yourself to keep up with others while you couldn’t actually afford it. I’ve heard possibly hundreds of stories of unfortunate people who realise that their current habits can’t be supported on their current incomes. The answer to this predicament is generally a choice between bankruptcy (not recommended) and paying the debts off one by one, starting with the highest interest rate first. This method of paying debts off using a “snowball” is recommended by many of the experts in the field. Information abounds on this topic, and I’ll only touch on it occasionally and briefly.

The next step is to take some or all of the money that isn’t going into servicing debt anymore and press it into your service. Investing this money in your education, in businesses either as a shareholder or as your own start-up capital, or in assets that put money in your pocket can free you from financial burden permanently and allow you to do whatever you love in your life. That’s the objective of step two, and my long term goal – financial freedom.

2. Opportunities
Above all, I am an ideas man. I like the rush of possibility that accompanies the potential associated with a new idea, the fine details of tweaking it to suit the situation, and most of all, the payoff. That’s why I intend to focus this blog on opportunities for people with a little time and money to invest. These will come in many different forms, from direct possibilities for investment that gives returns now, to more abstract and esoteric personal investments in mind, body and attitude that pay off in years to come. These opportunities will also vary in risk and reward, so I’ll try to explain any pitfalls that are associated. I hope this will keep the site positive, and give everyone a chance to evaluate and discuss key ideas for personal and financial growth.

3. An Alternative Perspective
I think of myself as somewhat of a contrarian investor, so I don’t feel comfortable recommending you put all your money in the usual baskets of index or mutual funds and wait until you retire. I’m hoping to deliver some investments that you might not have been aware of, and different plays on themes that are ongoing in the world. This unusual approach interests me the most, as in my research it always seems like it’s the small investor that takes the advice doled out by the big financial authorities that takes the brunt of any market “corrections”. I aim to avoid this wherever possible.

There’s a lot of personal finance information on the web and in your local library, but in general I’ve found it refer to US financial tools and services. I hope to take a slightly different tack to this, and write with a perspective towards personal finance in the UK. Although I’m not going to limit myself exclusively to topics that effect the UK alone, I’ll provide a view that keeps my British roots in mind. Therefore, I won’t be referring to 401K’s or such like as the only tool for retirement planning.

4. Simplicity
The world of personal and professional finance is not a straightforward and easy to understand place. I will attempt to explain everything as fully and simply as possible, to make the content accessible to all. I’ll try to keep the jargon to a minimum, and limit the technical talk to where it’s needed.

5. Transparency
I aim to be transparent about the sources of funding and revenue generation on this site. I’ll clearly label any advertisements, and attempt to make it obvious where I will benefit from your traffic. This should enable you to make a conscious decision how and whether you’d like to support the blog on a monetary basis.

www.krugergold.com/manifesto

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