Counting My Pennies

  • About
  • Contact
  • Extra Money
  • Popular Posts
  • Toolkit
  • Privacy Policy

Full Disclosure

October 7, 2009 By Megan Smith

So as you have probably read, starting December 1st, the F.T.C. is requiring bloggers to disclose any gifts or money they receive for reviews.  Of course, there are a number of bloggers who are upset about it.  Personally, I’m delighted to read this.

From a blogger standpoint, this is something I already do.  I haven’t written any reviews for pay, because I don’t like them.  Even if I’m writing a paid review of something I love, if I’m paid for it, you the reader have no idea whether or not I’m being truthful or I’m writing a glowing review because of the check I will get for it.  And if I review something I’ve received, as part of my deal with BlogHer, I can’t keep it – so I give it away to you.  Everyone wins.

To me, it’s not worth lying just to make a few bucks.  And if someone wants me to review something, they have to accept that if I hate it, I’m going to be honest about that.

But I am absolutely delighted to know that starting soon, other bloggers will be required to reveal when they’re being paid for a review.  When I’m thinking about a purchase or trying to learn about new products, I often do a websearch to see what others are saying about it.  Sometimes, it’s very easy to spot the paid reviews.  Other times, it’s not so clear.

Now, that’s not to say that paid reviews are bad.  A lot of reviews are done because a company will send their product to a blogger to try out.  That makes perfect sense to me, but is considered a compensated review by this new ruling.  And I want the blogger to tell me that they got the product for free – that they hadn’t heard of it, but hey, were willing to try it out.  I don’t know that it changes how I view the review – especially if it’s not a completely glowing review.  I just think that full disclosure is always the best bet.

Megan Smith
Megan Smith

Megan is a 40-something government employee in the Washington, DC area. She got interested in Personal Finance when she got out of college and realized that her paycheck wasn’t going to go as far as she had hoped. Since starting this blog, she has managed to buy a house and make a solid start on her retirement goals, and hopes to help others do the same. Here is her story:

In 2007, I was a gainfully employed 20-something with no debt but not a lot of knowledge about personal finance.  It was a co-worker’s comment about Roth IRAs that sent me to the internet, searching for information.  It was then that I realized that I really didn’t know a whole lot about personal finance and that my current financial situation was due a lot to inherent frugal tendencies, generous family members, a fear of debt, and good luck.  While that was working for me, clearly I needed a better plan.

While I had no debt, I was also pretty much living paycheck to paycheck and not worrying about going over budget (I say this as if I had a real budget) because I had an emergency fund set aside to cover any overages.

Except that’s not what an emergency fund is for.

So I did a lot of research, read a lot of blogs, and decided that I needed a plan.  I needed to budget.  I needed to know what I was spending my money on.  I needed to prepare for the future.

I decided to create a blog not only to make myself accountable to others but also to share the knowledge that I gained along the way.  I’ve learned so much from my fellow bloggers, and I hope that my readers can find something useful in what I have to share as well.

Filed Under: meta

Comments

  1. Rachelle says

    October 7, 2009 at 9:57 am

    I’ve just started blogging, so I wanted to read more about what other established bloggers thought about the recent ruling. Being on the other side, I do feel that I would appreciate if I knew whether or not someone was paid to do a review. But how will we then differentiate the paid blogger that actually liked the product? I guess the best bet is to go on the product’s website or a retailer’s website and read reviews, but I’ve heard that sometimes the retailers themselves set up accounts to provide “objective” opinions.

    Another conundrum in which we find ourselves…

  2. kriswithmany says

    October 7, 2009 at 1:25 pm

    I think it’s different when you haven’t had to pay for it. The cost of the item wasn’t an issue. When you pay for it, you really think, “Was it worth the money.” When it’s free, that’s a hypothetical question. Not the same in my book. That said, I wouldn’t mind reviewing in return for free merchandise. LOL

  3. Kristen@The Frugal Girl says

    October 9, 2009 at 8:28 am

    I’m pleased about this too. Like you, I already disclose everything, and it will be nice when everyone else has to as well.

Follow Us

  • Facebook
  • Pinterest
  • RSS
  • Twitter

Our Most Popular Articles

  • What are the advantages and disadvantages of saving money? What are the advantages and disadvantages of saving money? by Megan Smith
  • Another MLM Gone – AdvoCare Changes Business Model by Megan Smith
  • What is the billie razor customer service number What Is The Billie Razor Customer Service Number? by Joe Wallace
  • Billie razor review Billie Razor Review by Megan Smith
  • lularoe dani LuLaRoe Dani – Another Don’t Buy by Megan Smith
  • Celebrity Facts – Taylor Momsen Net Worth by Megan Smith

Copyright © 2023 · Runway Pro On Genesis Framework ·