Are you interested in building a career in financial writing?
Rightly so, as it can be a very lucrative profession. Financial writers produce content about investments, personal finances, economic trends, and other money-related topics. This might include writing blog articles, industry reports, op-eds, and news articles, and staying active on Twitter and LinkedIn. Professionals in the financial writing field need strong research skills and an understanding of complex concepts like derivatives trading or portfolio management. It may sound daunting at first, but many successful writers in this lucrative niche come from non-finance backgrounds.
What Is Financial Writing?
Financial writing encompasses topics related to money, investing, banking, economics, personal finance, and commerce. It’s an important writing genre because it helps people understand complex financial concepts and make informed decisions about earning, growing, and managing their money. Financial writers may work for news agencies, publications, or websites that cover these topics. Many also write freelance articles on these subjects, while others make blogging on personal finance their career choice. When most people think about money-related content, they probably imagine stuffy bank documents full of confusing jargon. But financial writing doesn’t have to be dry, overly formal, or difficult to understand. Some of the best financial writers can explain complicated concepts clearly and interestingly.
Things to Keep in Mind When Becoming a Financial Writer:
First, you need to have at least a basic knowledge of personal finance and investment principles. You don’t need to be a billionaire hedge fund manager, but if you can grasp key concepts and have the right skills to communicate them clearly, you’ll be off to a good start. Second, remember that financial writing is all about helping consumers and investors make sound decisions with their money. Your goal should be to provide accurate, unbiased information in a way that’s easy for readers to grasp. And finally, don’t forget the importance of SEO (search engine optimization). If you want your articles to be picked up by search engines, you’ll need to use optimization skills to make sure they rank high in search and generate lots of traffic. Key takeaway: Financial writing is a type of writing that covers topics related to money, investing, personal finance, and commerce. Financial writers may work for publications or websites that cover these topics, or they may write freelance articles on these subjects.
How To Become a Financial Writer?
Assuming you’re starting with zero experience in finance writing, here are the steps you need to take to write about finance:
- Research and understand basic concepts related to personal and corporate finance.
- Study different aspects of financial writing and learn from the best ones in the field.
- Get started with guest blogging or other forms of content creation (especially video content).
- Develop your unique voice, style, and approach to finance.
- Find an angle that sets you apart from other writers. What unique perspective you can offer to make readers want to come to you for advice?
- Start applying for financial writing jobs (for example, using freelance writing job boards) until you succeed and get your foot in the door.
There’s a multitude of topics to write about in the world of finance. It could be as huge as writing about global businesses and economics to as humble as teaching common folks how to save and invest. Find one area that interests you and focus on it. Read blogs and articles by other well-known financial writers using Twitter lists, Google News topics, Google Trends, and apps like Pocket or Financial Times to get a sense of what’s out there already. Finally, don’t forget practice makes perfect. Keep at it and soon enough people will come to you for advice. Key takeaway: To become a financial writer, research personal finance, study financial writing, guest blog, and find a unique angle.
7 Tips to Help You Succeed in Financial Writing
Financial writing can either be directed to other professionals in the world of business and finance or to an audience that knows little to nothing about managing personal finances. Once you decided on your target audience, then you can apply the following tips accordingly to get started:
1. Learn the Basics of Finance (Personal, Corporate, or both)
Before you can educate others on the subject of finance, you must first know its basic concepts. You should be well-versed in the most widely used financial terms, and know how to earn, grow, save, invest, and manage it. While a college degree is not a prerequisite to a career as a finance writer, it would be advantageous to be thoroughly educated on the subject. While you can learn practical concepts through experience, other writers in the biz might have advanced education in the subject of finance. Some may even have MBAs in Finance as well.
2. Know and Understand Your Audience
To whom are you writing? Is this a general interest piece or is it aimed at those in the financial industry? The level of detail and technical language to use will vary depending on whom you’re targeting. Say, you are writing for economists, accountants, stockbrokers, bankers, and other people knowledgeable in finance. Shouldn’t you sound more professional and authoritative on the subject, too? Of course, it would be different if you were writing for employees, retirees, stay-at-home parents, and students. Your language and tone could be more relaxed and conversational.
3. Use Clear and Concise Language
It is a good rule of thumb to avoid confusing jargon as much as possible, especially if you’re not writing for an expert audience. What is important is you are accurate and objective in your claims. So, you must choose your words deliberately and precisely. Construct your sentences carefully to eliminate deadwood and use grammar properly. By writing clearly and concisely, you will get straight to your point in a way your audience can easily comprehend.
4. Learn Financial Terms and Concepts Relevant to Your Writing Niche
While it’s preferable to avoid jargon when writing to a general audience, it is also essential to learn the common terms used in the financial industry. For example, do you know the meaning of compounded interest? Do you understand the concept of credit scores? Can you explain mortgage and amortization? Or, let’s say, you want to write about cryptocurrency. Do you have a basic understanding of blockchain technology? Do you know how the encryption algorithm works?
5. Know What You’re Talking About
It’s not enough to familiarize yourself with the basic financial terms. You should understand the concept of finance in its entirety, so read as many finance-related books as possible. You must also be an expert in the practical application of financial principles. How can you teach your audience how to stretch their budget when you are up to your neck in credit card debt? As freelance writers, we often work on assignments that cover the material well outside our expertise. To be excellent in your profession, finding a way into the material is your job.
6. Find a Unique Angle and Capitalize on It
With so much financial information out there and high potential income associated with the field, it’s tough to stand out from the hordes of finance writers. So think about what makes your perspective different and focus on that in your writing. Identify the big picture, brainstorm usable sub-topics, and choose one you’ll become known for. You’ll discover plenty of saleable, interesting content ideas that you can polish with fresh insights. Remember that there are always different angles in each story. There are different vantage points and angles from which you can approach the topic.
7. Keep It Interesting
No one wants to read a dry and boring article on finances (unless they’re really into that sort of thing). Try to make your topic more engaging for the reader by using stories or real-life examples. You can also start by figuring out what your readers expect and then reduce the unexpected. By following these tips, you should be able to write about finance in a way that is both informative and enjoyable for your audience. Key takeaway: When writing about finance, be clear, concise, and accurate in your language, and make sure to back up any claims with research.
Why Is Financial Writing Important?
Financial writing can help you provide clear and accurate information about various topics related to money management. With a better understanding of financial management, you can make more informed choices about spending, saving, investing, and paying off debt. Additionally, financial writing can also educate people on different aspects of personal or corporate finance so they can develop healthy habits and attitudes when it comes to money. In short, it has the power to improve one’s overall financial well-being. Key takeaway: Financial writing is important because it provides clear and accurate information that can help you make sound decisions about your money.
There’s a Future in Financial Writing
Whether you’re reading an article online, on social media, or flipping through a magazine at the doctor’s office, chances are you’ve come across some form of financial writing before. Financial Writing 101 defines this type of content as “any form of communication that provides information or advice relating to money matters.” This could include anything from blog posts and articles to books and pamphlets. Regardless of the format, financial writing typically contains advice or information that can be used to make sound decisions about personal finance topics like spending, saving, investing, and managing debt. While there’s no shortage of financial content out there these days, not all of it is created equal. That’s why it’s important to seek quality financial writing when you’re looking for guidance on your finances. Having said that, there are millions of people everywhere who seek guidance about their finances. It is one of the most searched topics on the internet. People type in searches as basic as how to budget their money, to more complex topics like, “How can I make money as a blogger?” There are many areas where you can fill up a need or answer queries. Key takeaway: Millions of people seek guidance to put their finances in order, so there is a big market opportunity for financial writing.
Where Can You Find Resources on Financial Writing?
When it comes to financial writing, many online and offline materials are available.
If you’re not sure where to start, check these resources and apps:
- Personal Capital
- Credit Karma
- The Balance
- CNN Money
- Yahoo Finance
Additionally, there are a lot of online sites that teach financial literacy such as $martPath, Financial Times, or Harvard Business Review. Not only are they helpful in finding quality information on the topic, but it is also possible that they can provide you with freelance writing opportunities. No matter where you look for resources on financial writing, the most important thing is to make sure that the information is reliable and relevant to your needs.
FAQs on Financial Writing
1. How much do finance writers make?
Finance writers’ salaries can differ depending on several factors, such as experience, location, and the type of writing they specialize in. However, according to Payscale.com, the average salary for a financial writer is $69.161 per year.
2. How do I become a freelance financial writer?
The career path may vary depending on your experience and qualifications.
However, some tips on becoming a successful freelance financial writer include:
- Building up a strong portfolio of writing samples
- Networking with other writers and professionals in the industry
- Staying current on trends in finance and investing
- Marketing yourself through social media or online platforms
3. What is technical writing in finance?
Technical writing in finance focuses on communicating technical information about financial products and services. Professionals in this industry typically have a strong background in mathematics and economics. They use this knowledge to explain complex financial concepts to lay audiences. Financial institutions such as banks and insurance companies often employ technical writers to create user manuals, online help documentation, white papers, and other educational materials for their customers.
4. How can I improve my financial writing skills?
There are many ways to improve your financial writing skills, such as:
- Reading books or articles on finance
- Keeping track of financial trends
- Investing in financial assets
- Practicing writing by creating budgets or investment plans
- Working with a tutor or editor to improve one’s understanding of financial concepts and grammar
- Attending workshops or taking courses on financial writing
Overall, financial writing is a great way to learn about personal finance, economic trends, and other money-related topics. It can also be a useful tool for teaching others about these concepts. If you’re interested in becoming a financial writer, there are many resources available to help you get started, so check a list of sites that will pay you to write, and get started today.
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