Back in the day (aka 2-3 years ago), I subscribed to the "big three" personal finance magazines: Money, Kiplinger's, and Smart Money. Every once in awhile I'd write a review and compare them for my readers. Eventually I grew tired of: 1) having to work through physical copies of them each month and 2) paying for something that I could get online (I subscribe to all of their RSS feeds), so I cancelled my subscriptions.
But I had to take a business trip last month and needed some lightweight reading material for the flight back. So I picked up a copy of each, read them all, and made some notes. Here are my thoughts:
- Many of the pieces I had already seen online because of the RSS feeds. I wonder how sales are going for these magazines when all (or most) of the content is free online.
- Not much has changed in the big three since I stopped reading. They all continue to focus on the same issues as before and my opinions on each are the same as before.
- Money Magazine was my favorite by far. By far it covered a wider range of personal finance topics (investing, retirement, debt/credit cards, long-term care insurance, kids and money, careers, and more) than the other two even though this was their "investor's guide" issue. The reading was easier than the others as well and I enjoyed this magazine most of all. It had 10 articles that I noted I wanted to read again and either use on FMF or apply to my own personal finances.
- Kiplinger's was next in line and the second-best option. And I would say that it was a "good" issue (if only Kiplinger's was available, I would have purchased it.) This magazine had a split in articles -- roughly half on investing and half on other topics (by my estimations) -- that was similar to the mix they had when I used to subscribe. Overall, the issue had six articles I wanted to read again and either use on FMF or apply to my own personal finances.
- Smart Money was the least attractive option, focusing mostly on investing. If it was the only one of the three on the newsstand, I would not pick it up. How many times can I read pieces like "Hunting for Healthy Gains," "Costly Currency," and "Hot Stocks from Cold Countries"? Need I say it? Ugh. There, I said it. Overall, the issue had one article I liked. This was surprising to me because I often find good stuff on their website. I wonder if they publish different pieces on their site than they do in the magazine.
How about you? Do you read any of these magazines? Why or why not? If you do, what's your opinion of them?
I stopped subscription years ago when I got a laptop and was able to get all content on line.
I did the same with my newspapers which the only thing worthy reading was the comics which now I view on line.
I find the magazines good but narrow in content.I like to read more to learn more diverse information.
Posted by: Matt | March 15, 2011 at 06:36 AM
My stepdad reads Money, Forbes, Kiplingers and one or two others. I don't think he reads Smart Money. He's into following the economy and investing.
I don't subscribe to many mags, since the back issues at the library are recent enough, and we are saving big-time to be able to live our dreams.
Posted by: Emily | March 15, 2011 at 08:34 AM
I stopped subscribing to Kiplinger's when it became painfully obvious that they were hiring "industry" writers who seemed more concerned with pushing their own positions in companies rather helping the readership (e.g., those hedge fund guys who write their value investing column and seemed to push Borders month after month.) I generally find the information online to be as reputable -- and it's free!
Posted by: MonkeyMonk | March 15, 2011 at 09:24 AM
I have found that since I got a blackberry that I am reading more online and do not purchase a physical hard copy of a magazine anymore. I have been more partial to cnn.com/money and fox business to get my reading material. They have had good articles from all of the magazines that you mentioned above.
Posted by: RyanLoos | March 15, 2011 at 09:41 AM
I always kind of liked Money magazine too as it seems to have a broader range of topics. Also, I think just about anyone could pick it up and learn something, not just 'finance' people.
Not a fan of Kiplinger's or Smart Money. Used to like Kiplinger's more a few years ago. I have to admit though that I have not read the actual magazine in some time, it is the online material I have not been overly impressed with.
Posted by: Everyday Tips | March 15, 2011 at 09:48 AM
I've got subscriptions to Businessweek and Money right now. I like Money. They have generally good information it seems and they cover a lot of good personal finance topics. Businessweek is more business/economy related which is interesting but different focus. Businessweek is OK but I'm starting to not like it so much.
Posted by: jim | March 15, 2011 at 02:13 PM
The only time I occasionally read one of them that's out of date is when I am in the waiting room at a Doctor or Dentist.
The Internet provides access to almost everything I need but I also read a few free newsletters e-mailed to me on the economy and the market from old customers that are in the investment business.
Some of these newsletter writers spend their market days in front of half a dozen TV screens or watching data feeds from market data providers, but then they're making money off the customers that invest with them so they have to stay on top of what's going on.
Posted by: Old Limey | March 15, 2011 at 02:48 PM