Personal finance encompasses the management and growth of personal wealth, making it a vital aspect of life. It covers a range of financial instruments and areas, such as income, taxation, insurance, real estate, mutual funds, equities, loans, home finance, and mortgages, which are relevant to individuals and families.
Why Start a Personal Finance Blog?
If you possess knowledge of different areas of personal finance, such as taxation or insurance, and have successfully navigated financial hardships, you have valuable insights to offer others. Starting a personal finance blog enables you to share your wisdom and help others manage their finances better, while also providing an opportunity for monetization.
Financial companies allocate significant advertising budgets for online advertising, and finance-related keywords have high cost-per-click rates, making a personal finance blog a profitable venture. With numerous subtopics to explore, such as earning, budgeting, investing, and more, a personal finance blog is an excellent platform to educate and learn about personal finance.
If you’re considering starting a blog, regardless of the topic, you may have questions such as how to begin or why it’s worth doing.
How to Start Your Personal Finance Blog?
Here we will learn how to start a blog (website) in a nutshell.
Must read: How to start a blog in 30 minutes (a step-by-step detailed guide to start blogging)
The first thing to do is to find a “home” for your blog. Choose a domain name for your blog and register it with a reliable domain registrar such as GoDaddy. Get hosting with a good web hosting provider and opt for a basic plan to start.
You can always upgrade your hosting when the blog grows. At first, you won’t likely have many users on the site at any given time, but at your blog grows in popularity you will hopefully see many more users visiting your site at any given time so your hosting needs may change.
Once you have your host set up, you’ll need to choose the software to run your site. Most people use WordPress because it is free and easy to set up. Even if you don’t have any previous experience in setting up a website or blog, you can easily install WordPress blog website in just a few clicks. Pick a theme and start populating your blog with your great wit and wisdom!
How to Earn From Your Finance Blog?
Like any other blog, there are essentially three basic ways you can make money with your personal finance blog: advertising, affiliate programs, and selling products/services. Let’s look at each of these income possibilities a little more closely.
Blog Advertising
This is by far the simplest of the income streams available to personal finance bloggers. Through Google Adsense, relevant advertisers will be placed on your site. For every thousand views, you’ll get a few cents. If people actually click on the ads, you’ll earn more. At first, the earnings will be modest, but it will be steady and it will grow over time as your readership increases.
Affiliates/Referrals
One of the most popular affiliate programs is Amazon affiliates. Through this program, you can promote and link to any product on Amazon and if someone buys the product using your link, you get a percentage of the sale. Specific to financial blogs, you may want to explore affiliate programs run by banks, investment companies, and credit card companies that offer you a payout each time your readers sign up for a credit card with your link.
With any affiliate program, it’s important that you only recommend products that would be a good fit for your readers and that you would personally endorse to a friend. You’ll lose credibility if you promote things just for the sake of promoting something.
Products & Services
In some cases, people use blogs to drive traffic to their e-commerce website. This can be an effective strategy for driving traffic to your website, to gain exposure for your business, and to provide a way for you to communicate with your customers.
All that is left to do is to publish your work and promote it! Find other financial bloggers, read their content, and make comments. This is one of the best ways to get your name out there and in front of interested parties.
Once your blog is populated with several posts, start making connections with other like-minded bloggers. Ask them if they’d consider letting you write a guest post for their blog. That’s a fantastic way to get your name out there, too, because it gives you the opportunity to piggyback on the established reputation of the experienced blogger.
Starting a financial blog isn’t difficult; it’s just time-consuming. At first, it’s going to require lots of hard work and diligence, but if you are patient and work hard, you should see some results before long.