Yahoo Inc. will begin dispensing advice about personal finances as an extension of it's decade-old finance section. With 9.6 million U.S. visitors in December, Yahoo's finance section ranked second behind Microsoft Corp.'s MSN Money, according to comScore Media Metrix. The internet powerhouse has decided to widen its focus to include more simple money matters in order to reach a broader audience. Yahoo hopes to lure more advertisers in order to start catching up to Google.
The personal finance section will include tips and tools for household budgeting, tax planning, careers, real estate and debt management. Most of the content will be provided by other sources, including The Wall Street Journal, The Motley Fool, Consumer Reports and CNNMoney.com.
The personal finance initiative represents the third new information channel launched in the past eight months, following sections revolving around technology and food. "All of these (sections) are designed to provide advertisers with more opportunities to reach our audience," said Scott Moore, who runs the company's news and information division.
News source: CNN