But starting a blog from scratch is a lot more work than most people would think.  You’re starting off with absolutely no audience.  No one knows you exist and no one is looking for you.  Despite what Field of Dreams would have you believe, people will not come just because you build it.

So many bloggers who have the capital to invest are taking a shortcut and buying an already established blog rather than starting one from scratch.  But before you go ahead and start buying virtual real estate, let’s take a look at some of the pros and cons to buying a blog.

Pros to Buying an Established Blog

You get a built in audience of engaged readers.  If the previous owner was doing things right you will already have a good number of Facebook fans, Twitter followers, and RSS subscribers.  That helps alleviate some of the frustration of churning out articles for a blog that no one knows about yet.

You get a head start on content creation.  Hopefully the blog comes complete with dozens or hundreds of articles and you just have to keep the momentum going.

The search engines are aware of you.  When you start a new blog, search engines like Google and Bing don’t even know you exist.  It takes time for them to find you and then learn to trust your content enough to rank you for various search terms.  Getting a head start on that process is a big plus.

Cons to Buying an Established Blog

Traffic could disappear the day after you buy it.  Recent Google updates known as Panda and Penguin have sent many sites to the bottom of the search engine rankings.  If you had just paid good money for a blog only to find its traffic slashed in half you will be experiencing serious buyer’s remorse.

Valuations bordering on the insane.  Bloggers love their blogs almost as much as they love their own children, and they place unrealistic prices on them.  An objective buyer doesn’t care about how many hours you spent tinkering with the header or trying to get the wording just right.  They only want to know how long it will take to get back their investment.

If you’re going to buy a blog you want to make sure it has a steady stream of income.  And not just any type of income.  You want it to be income that you can recreate.  That means that private advertising deals worked out by the previous owner are not worth much.

If you decide you want to buy an established blog make sure you do your due diligence and thoroughly go through their traffic and revenue reports.  And make sure you have a plan for it.  Ideally, if you want to earn money online, you’ll find an under-valued blog that just needs a little love and monetization help to turn it into a powerhouse.

Related posts:

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Starting a New Blog vs Buying an Established Blog originally appeared on StupidCents on May 21, 2012.

Unemployment is still high and that’s why Bargaineering wants to make sure you know, Do You Qualify for Unemployment Benefits?

If you’re still in the midst of spring cleaning, you’ll want to read this post by WiseBread that lists 10 Ways to Get Rid of Stuff Frugally.

The Canadian Finance Blog posted a great guest article this week that looks back into The Green Ages: Life Before Credit Cards.

This week the Free Money Finance blog wants to check in with you by asking, How is Your Emergency Fund Doing?

Everyone loves a bargain but Mint Life wants to make sure you know the Things You Should Never Buy Used.

If you’ve decided to try the stay-at-home vacation this summer, you’ll like this post by Money Ning that shares 5 Steps to a Fantastic Stay at Home Vacation.

Moving costs can be overwhelming but this week the Frugal Dad discussed How to Save Money on Moving.

Many of us have cancelled credit cards but Digerati Life wrote about What to Consider Before You Cancel Your Credit Cards.

This week Free From Broke talked about the touchy subject, Is Social Security Really a Retirement Plan?

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Weekly Common Cents originally appeared on StupidCents on May 18, 2012.

These contact-less payments are meant to make it easier for consumers to pay, even at brick and mortar locations. Convenience is the key, and it might even lead to more spending. According to a recent study of contact-less payments by MasterCardAdvisors indicates that those who don’t have to swipe spend almost 30% more than someone who has to swipe. The ease of payment means that it’s easier to spend more money.

Could this Mean More Spending and Debt?

For card issuers, this is great news. The MasterCard study divided spenders into three groups: low, medium, and high. However, it didn’t matter which group the user was in; there was a lift in spending across all groups. There have already been studies that indicate that consumers spend more money when they are using cards as opposed to counting out cash at the register. Psychologically, it seems less painful to swipe a card than to count out the cash and physically see what you are spending.

And, from this most recent study, it appears that it might be even easier to just wave a form of payment in the direction of a terminal and then forget about the charge. Convenience plays a role in our spending decisions, and it looks as though we are willing to spend more if it’s more convenient to pay for it.

Consumers, of course, could find themselves spending more money and even getting into debt. Increased spending can mean fewer financial resources going to pay off debt or save up. The encouragement to spend is a prime motive for card issuers and retailers alike. The next evolution in payment technology could be a push toward increased spending by consumers. For those who don’t track their spending very well, this could also lead to an increase in debt.

Pay Attention to Your Spending

In the end, though, you are responsible for your own spending habits. Even though there are marketers and others trying to increase your purchase rate, it doesn’t mean you have to play along. Make sure you pay attention to your spending. Record each transaction in a personal finance application, or in a paper ledger. Either way, making a record of your transactions can help you spot spending patterns, and help you recognize how much you are spending — and what you are spending it on. This is important knowledge if you want to avoid going into debt. Watch your spending, and stick to a financial plan, and the type of payment method you use won’t matter as much.

Related posts:

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Could Easier Payment Methods Lead to More Spending and Debt? originally appeared on StupidCents on May 16, 2012.

Every few years, someone in a high profile position gets busted for embellishing his or her resume. This year, it’s Yahoo CEO Scott Thompson. Thompson claimed to hold a bachelor’s degree in accounting and computer science from Stonehill College when he only had an accounting degree. What’s surprising is that this wasn’t revealed in a background check, it was brought up by an activist shareholder group, Third Point, who called for Thompson’s ouster. The sad reality is that his degree probably had little to do with his hiring. His experience is both extensive and impressive, as he was the President of PayPal, after being a senior vice president and CTO. The only surprising part about this whole story is that Thompson hasn’t stepped down as CEO, but the director who led the search committee has said she would step down at the end of her term.

Instead of lying, here are a few resume tips that can help your resume stand out without any extra flair:

Tailor Your Resume. As you would with a cover letter, tailor your resume to the job you are applying for. It requires a little extra effort but given the tough job market, you’ll want to give yourself as much of a legitimate advantage as possible. Write a new “objective” that matches the job description and order your experiences by relevancy, not chronologically. If you worked a similar job several years ago, put that ahead of what you’ve been doing last year if it’s less relevant. Review the most common interview questions and try to find a way to integrate answers into the resume – like examples of strength and where you want your career to go. (and you do not have to list every job you ever had, but be prepared to explain any gaps)

Update Any Computer Skills. This is especially true for software developers but in a keyword based resume world, make sure that your resume is up to date on the skills you have, especially computer skills. If you can the space to qualify your proficiency, do so. The last thing you want to do is get into an interview about C/C++ when your only experience was an introductory class ten years ago. It will be uncomfortable and you probably won’t get the job anyway, which is a waste of everyone’s time. A good rule of thumb is to be able to back up each skill with a job experience listed on your resume.

Be As Specific As Possible. You want to give the person reading your resume as clear a picture as possible, so be specific without embellishment. Let’s say one of your jobs was in procurement and you were responsible for negotiating large contracts with a variety of vendors. Try to come up with a job title that accurately reflects what you did, rather than use the generic one you were given. Instead of saying “Associate in Procurement,” use one that makes sense. Do not use terms like director, vice president, manager, or other obvious keyword terms unless it was in your original title. Think of it as a title to your short story about that job, not what is written on your business card.

List Your Achievements, Not Your Responsibilities. When writing about your experiences, share what you accomplished and not simply what you did. If you saved your company a significant sum of money, share that on your resume. If you built something that generated a lot of income for the company, be sure to include it. When you do include your list of achievements, be sure to use as many numbers as possible in order to give the reader an idea of size.

Update It Regularly. Be sure to update your resume regularly, especially if you have a job. I try to review mine every three to six months and add any recent accomplishments. The last thing you want to do is update it ten years later, after potentially forgetting some great accomplishment seven years ago.

What the Yahoo CEO’s case, and other cases like this, teach us is that not only should you avoid lying on your resume, you’re probably going to get caught. With as much social media and technology out there, it’s only a matter of time before researchers will be able to discover your lie – especially if you have enemies. Maybe not today, maybe not tomorrow, but fate has a way of rearing its ugly head after you’ve been tapped as the CEO of a major company!

Jim writes about personal finance at Bargaineering.com, where he tries to distill complex personal finance topics into easy to understand nuggets that everyone can decipher. He’d love you to join him!

Related posts:

1. A Simple Resume Can Get You the Job
2. Creating a Resume that Works

Don’t Lie On Your Resume! originally appeared on StupidCents on May 14, 2012.

Nowadays it seems like every store has a credit card to offer you.  The Simple Dollar explains why you Don’t Sign Up For Store Credit Cards Just For That One Time Bonus.

Getting a bit of the spring cleaning bug?  Get Rich Slowly shows you How to Do a Wallet Audit.

The Canadian Finance Blog tackled a difficult question this week when they asked, Should You Donate To The Homeless?

This week the Five Cent Nickel wrote a very informative article that explains How to Close an Ally CD Early?

It’s nearly Mother’s Day and that means brunch!  Thankfully Mint Life shared some tips for it: How To – Mother’s Day Brunch on a Budget.

We’ve all seen the ads and the men holding signs, but Money Ning wants you to know exactly why you should be Avoiding the Payday Loan Trap.

If you’ve been considering going down to one car, you’ll enjoy this post by Man vs. Debt that discusses 5 Things We Love About Being a One-Car Family.

This week Smart on Money listed 3 Roth IRA Rules Benefiting Military Personnel.  Are you taking advantage of these rules?

In a slightly unusual post this week, the Financial Samurai shared How To Outperform The Stock Market And Make Ladies Love You.

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Weekly Common Cents originally appeared on StupidCents on May 11, 2012.