You know I’m all about transparency, so here’s how much money we’ve made since founding PFC almost six years ago! It’s more fun to post REALLY INSPIRING content about numbers going UP, but the reality is our sales have slipped a lot this year, so I want to share that honestly. There are some reasons I’ll break down below.

For some context, about 98.5% of this revenue comes from the sale of our two courses on investing and money at an average sale of about $60 each. The rest comes from the @ynab.official sponsorships we’ve done, and a few random speaking gigs, interest on cash in the bank, etc.

So why is our revenue down so much? Here’s my best guess as to the reasons:

• Terrible business model. About 98.5% of our revenue comes from selling a low-cost course that includes unlimited lifetime access including all future updates. That means we basically have given ourselves no opportunity to sell to existing customers or have a line of recurring revenue. Those things are bad for business.
• Consumers fatigued of courses. A silver lining to the pandemic was that at-home learning, including courses slung by social media influencers like me were doing REALLY well. When I first decided to sell something, I made about $100K in the first week! But now my sense is the opposite is true. Consumers are fatigued by online courses and less likely to buy.
• Nectarine focus. In the middle of last year we founded @hello_nectarine and fully launched in February of this year. Candidly, we think fixing the financial advice industry is a huge opportunity and the three PFC employees have been putting most of our focus on that. (Nectarine’s 2024 revenue will be about $640K, so if you add that to PFC, we actually did about $931K total!)

While it would be NICE for PFC’s revenue to always be growing it didn’t happen this year, but we’re not stopping. We’re going to keep cranking out even more great content while also fixing the financial advice industry with Nectarine!

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy

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By: Jeremy Schneider
Title: How does an HSA work? (The Ultimate HSA Guide)
Sourced From: www.personalfinanceclub.com/how-does-an-hsa-work-the-ultimate-hsa-guide/
Published Date: Sat, 28 Dec 2024 06:29:21 +0000

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