Pardeep Goyal, a popular personal finance blogger, is known for his expert opinion on value investing, creating multiple passive income streams, and money-saving hacks.
He shares practical money management tips on CashOverflow that won the Best Personal Finance Blog Title in 2017.
To have rewarding insight read this interview with Pardeep Goyal, which we conducted covering his blogging journey, how he made it such a huge success, how content blogging space is shaping going forwards, and of course his world-view of the current financial market and how to deal with the evolving situation.
Pardeep, Tell Us About Your Background
I am an engineer by education but I am passionate about finance, investing, and money-saving hacks (added Mr. Goyal “being a Kanjoos Baniya”...with a smile).
I did my B. Tech and worked for 8 years in the IT sector. But an entrepreneur inside me was not satisfied with the job. I quit my job in 2013 to start my entrepreneurial journey. I invested all my savings of around $20,000 in my new business which failed within the first year.
I started CashOverflow with the investment of $500 in 2015 and that became a successful business.
What Were The Initial Challenges That You Faced In Your Endeavor
The first challenge I faced when I lost all my saved money that I used to build my first startup.
I became jobless & cashless. I had to work as a freelance content writer to take care of my regular monthly bills until CashOverflow started making money.
I also started consulting early-stage startups with my experience and marketing skills that I learned during my failed business.
After one and a half years CashOverflow earned the first income of a few dollars and that grew to $8,000 per month in 2018.
What’s the Goal of CashOverflow
CashOverflow’s goal is to educate people about managing their finances smartly so that they could make the right financial decisions in their life.
CashOverflow is committed to providing genuine information and reviews of financial products like credit cards, loans, insurance, saving accounts, and other investment products. We are adding more financial products to CashOverflow to benefit our readers.
We also have a trading expert in our team to educate our readers about stock trading strategies that work in different scenarios.
I am also planning to provide high-value content to my readers free of cost that would be worth a thousand dollars if I launch as a paid course.
I think providing value free of cost will help me reach out to people who really want to do something in life but can’t do that because of financial issues.
I would like to implement a “Gift Economy” in which if someone finds my information beneficial, he can pay me what he feels like paying to me.
Being a Financial expert, Tell us About the Importance of Investing Early in Our Lives
You can only be financially free if your money is working for you and creating passive income for you automatically.
When you start investing early, you get enough time to grow your money exponentially with the power of compounding. You can cover up your losses (if any) when you invest early with long term investing mindset.
But if you are in your 40s, a sudden loss in your investment may create panic because you have limited time to recover as your retirement age is drawing near.
What Would You Suggest to a Beginner Stock Investor Investing in any random stock or investing on the basis of any expert tip can be dangerous and you may end up losing money.
You must remember one thing that to become a successful investor -
“Don’t invest in stocks, invest in businesses.”
You must have an understanding of the business in which you are going to invest.
Invest in the business that you can understand and avoid stocks which are complex to understand for you.
What Are Your Future Plans
I am living life the way I always wanted to live. I spend 2 hours per day to manage my business and the rest of the time on my permaculture farm to grow organic vegetables (without any commercial intent).
My plans are to make CashOverflow more reader-friendly, invest more time in farming, and provide more practical knowledge to my readers on personal finance management (free of cost) and help them become financially free.
