translating wordpress blog content

I have a need to translate a blog into different languages, but not necessarily WordPress itself. For example, the website which I run is written completely in English, and I have a desire to translate it into Finnish. I also might have someone else translate the site and give me the translated material. Is there a simple tutorial or way to get this done?

What I’m worried about with the 2nd method is updating it in English then having to separately update the Finnish translation. Is there a way to store these two versions of each page easily so translation is easily made?