Hi I’m Praneeth Kumar.
In this blog I will walk you through how you can monetize a finance blog and make money.
So if you are interested in starting your own finances blog or learning,
how you can make money from your finance blog and diversify your income then this is the right blog you have visited.
So without further ado let’s get started.
Here is a 30000.foot view of the blog post.
What is a finance blog & how to start one?
A finance blog is a blog that writes about all the topics related to money management and personal finance related topics on its website.
- If you do not know what a blog is all about you can refer to this guide on what is a blog and pros and cons of blogging.
- You can learn more about why blogs are important for your website and Search Engine Optimisation & for your business here.
As we all know personal finance and money management is an evergreen industry and people will always be looking for methods of making money and saving it and investing money.
Some of the most popular personal finance blogs are,
Many Finance bloggers make millions of dollars like 6 or even 7 figures every month from their blog.
If you’re interested in starting a finance blog, you can click here to learn step by step on how to start a blog from scratch.
Here are a few guides which can help you with starting a financial blog.
- How to select a blogging topic?
- Blogging mistakes you should avoid doing.
- How to rank quickly on Google?
- How to do keyword research using Google?
- Which blogging platform is best and why?
The most important rule of personal finance is that,
Don’t keep all your eggs in one basket. You should diversify them.
At the same time, if you have a personal finance blog yourself, you should learn how to diversify your income so that you are not at any financial risk and have a good life.
So let’s see how you can make money from your personal finance blog and diversify your income.
How to monetize a finance blog?
There are 7 different ways you can make money from your finance blog
1. Affiliate marketing
Affiliate marketing is by far the best strategy you can use to monetize your finance blog and make money from it.
This is the most successful and best strategy you can use to earn passive income from your blog.
It is nothing but strategy of recommending products to your readers and when people purchase your recommended product through an affiliate link within a period of time which is called cookie window ,
you will get Commission for getting that sale for the company & percentage of commission will depend upon individual products and their price. For example, if you sell a phone becoming a partner with Amazon Associates then you can get a commission of 1 percentage.
Whenever you add affiliate link to your blog post make sure that you disclose the relationship and let the audience know that you have added the affiliate links and
you will earn Commission when people purchase a product from your affiliate link which is also called affiliate disclosure and follow FTC guidelines.
What’s good about affiliate marketing is that you do not have to create your own product or handle customer service and support yourself . All you need to do is to get people to click your affiliate links and purchase the product as they normally do.
For more information regarding affiliate marketing you can read my ultimate guide on pros and cons of affiliate marketing in detail.
Honestly speaking you do not need much traffic or a huge readership and authority on your website in order to start making money with affiliate Marketing.
But you need to make sure that the products that you recommend to your readers are something that adds value to your audience and benefits them, not just gives you a good commission.
Example I am in a partnership with bluehost web hosting service,
It is one of the cheap yet best web hosting services you can find for beginners with tons of features and benefits and it is also one of the few web hosting companies recommended by wordpress.org.
My Recommendation of this product can add immense value for my blog readers and audience, so they click on my affiliate links and purchase the hosting service leading me to some commission.
- BTW you can read pros and cons of amazon affiliate marketing program.
You can easily join this network, get your affiliate links, manage clicks and sales, & start recommending products.
I believe affiliate marketing is more or less about building credibility and trust with your readers on your website.
People more often would not like to take the Recommendation of a product from a person whom they have never known or have first met online.
In order to build the relationship & trust with your audience you must make sure to build an email list and build your audience and connect them on social networks.
Another thing is that,
If you want to maximize the Earning with affiliate Marketing you must make sure to target the right blog topics & keywords on your blog so
that you can drive the right traffic for example if someone searches for best web hosting companies then he or she is likely to purchase a web hosting service after reading a blog post.
So, you should target keywords related to your finance industry which have some commercial intent where people are more or less likely to purchase a product after reading the blog post.
2. Selling ebooks and courses
If you take a look at most successful bloggers online, you would find the majority of those 6&7 figure bloggers make the majority of their income from blogging through selling different online products like ebooks and courses.
This is quite opposite to affiliate marketing.
The main advantage of selling your own products is that you can control prices, profits and you can upsell and downsell your customers and you can also use the same customers to buy more products from you.
Another reason why selling your own products and courses is more beneficial than using affiliate marketing is because,
if you don’t follow the terms and conditions and guidelines of properly recommending the affiliate products then the affiliate network can either delete or suspend your account or
even reduce affiliate commission’s like you have with Amazon associate’s and you can lose your earnings in a couple of minutes but when it comes to selling your own products, it is not such a case.
This is the problem with affiliate Marketing even though you are selling other companies products you cannot upsell or downsell the products and increase the commission nor,
You can control and regulate the price of the product and in most cases if you want to earn commission you will have to consistently drive new customers to purchase the product.
Of course you need to manage and take care of customer support and customer service if you want to sell your own products which can be
quite a headache and difficult task in which case you might need to hire a team or a virtual assistant to take care of all those things.
But this is not the easy strategy for most bloggers to start utilising because it takes a lot of time and energy in order to create a product, test & market & sell it.
After you get some good amount of experience in the industry and build an authority blog and large readership on your website and
email list you can consider Creating your own product and start selling it to your audience and you can use many popular tools like teachable to make money selling online courses to your audience.
3. Sponsored posts
Publishing sponsored content on your website is also one of the most popular strategies you can use to make money.
Many successful bloggers receive sponsored post request to their website for things like adding a backlink to their website,
write a sponsored product review or mentioning their products in the blog or displaying ad banners of those companies on their website.
Big brands and companies want to publish such sponsored content on other popular Websites for a few main reasons like,
- They want to build credibility to their website & products by getting backlinks.
- They want to attract new customers.
- They want to get more exposure to their brand.
Depending upon how many people visit your website every month,
traffic demographics, you can decide how much money you can charge for publishing such sponsored content on your website.
For example there is a popular marketing website called marketingprofs which charges 3000$ for publishing sponsored posts on their website.
And because we are looking at different ways to monetize a finance blog, there is a popular finance blog called penny hoarder &
money under 30 which accepts and publishes sponsored posts on their website, although i don’t know the exact price they charge.
4. Display ads
Displaying ads is another most popular monetization strategy we can use to make money from your finance blog.
There are various factors which determine how much money you can make from your website through displaying ads like,
- Total Page views and traffic on your website, obviously more traffic means more earnings.
- How much time the average user spends on your website obviously the more time the user spends on your website, they could see more ads and you will make more money.
- Traffic demographics, you can make more money if you get traffic from countries like America and Europe compared to Asian countries because Western countries have more purchasing power.
And because we are essentially talking about how you can monetize your finance blog,
finance is a very profitable industry in order to make money especially from displaying ads which is the real source of passive income for your website.
Whenever you think about making money from displaying ads most people think of Google AdSense as the best ad network but
let me tell you something it used to be one of the best ad network to make money from your blog but not anymore even though it is the largest and network on the planet,
The type of ADS and their quality that is shown on your website is quite terrible and low quality, even the earnings are not very impressive with Google AdSense.
The only disadvantage of display ads strategy is that,
- It can also hurt user experience when people read your blog content as those ads can be quite distracting.
But thankfully there are many popular ad networks we can join apart from Google AdSense, & solve both of the problems at the same time make good amount of money like,
Then if you properly match and follow their guidelines and criteria then you can get your website approval and you can start displaying their ads on your website and make money.
Generally, you will make money with display ads in 2 methods,
- CPC- it is how much money the advertiser is willing to spend for each ad click and visit the advertiser website.
- CPM- it is how much money the advertiser is willing to spend for 1000 page views.
Even though CPC depends on keywords & topics you target in your blog posts.
Whereas, depending upon which ad networks you join like Media vine or ezoic, you can expect to earn between 10 to 100 dollars CPM.
You can expect to start earning a decent amount of money on Ezoic like a few thousand Dollars every month only when you reach close to 25k page views per month on your website.
5. Offering services
Offering different Services related to your industry and of digital marketing in general is also a good strategy you can use to make money.
For example since you’re already good at finance related topics as
you have some knowledge about it and a blog about it you can become a freelance seo writer to other websites related to finance industry.
You can showcase your blog posts as samples of your work and this can get you some initial clients to do freelance writing services.
You may not directly make money from your blog but you can use your blog and articles you published as examples & launch pads to make money by writing blogs for other websites.
Depending upon your expertise and the level of research required to write the blog post you can easily earn up to $50 per 1000 words article as a freelance content writer for the Finance industry.
Apart from that, if you are an expert in personal finance,
then you can also start offering consultation and coaching services to your audience.
When you write blog posts related to finance related topics on your blog people more or less perceive you as an expert on the topic and
they would definitely consider taking your advice As human beings have a tendency of seeking advice only from experts.
Depending upon your expertise and experience in the industry you can charge starting from 50 to 250 Dollars per hour.
If you drive lots of organic traffic to your website from Search Engine Optimisation through Google then you can also create a digital marketing agency where,
you can offer SEO Services to finance related websites in particular because,
you have already done it on your website and you can offer such services to other businesses and make money showing your website results as proof.
If you are interested, you can read my ultimate guide on how to start a digital marketing agency where I have laid down step by step instructions and how you can learn digital marketing.
These are a bunch of methods you can use.
6. Create subscription based site
If you have visited online content publishing platforms like medium or popular media & news websites Like Forbes,
New York times and Washington Post then as a free user you are restricted to read a few articles a month like 5 or 6 but if you purchased their
premium membership plan in medium it costs 5$ a month, you can get access to lots of Amazing high quality articles and other resources.
Similar to these, you can also create your own website with a subscription plan on both monthly and yearly basis.
For example, there is a popular self improvement blog of a New York Times best seller called Mark Manson.
He has a membership based website which you can purchase for $48 per year.
You might Wonder That $48 per year is not a big amount of money as a profit but when you multiply it with at least 1 lakh people who have purchased the subscription, you will understand the profits and roi.
It is an all numbers game.
With the premium membership website he publishes members only content where he discusses and
answers different problems of users and gives them the proper solutions and also publishes high-quality text based content and exclusive podcasts.
Similarly you can also use subscription based website and offer such high quality content both text and video and also audio based content to your audience and
also conduct live streams where you interact and engage with your audience and solve their problems like a mini consultation.
But honestly speaking this strategy does not work for every blogger if you want other people to subscribe to your blog you must present a very strong reason for that because,
the type of premium content that you claim to publish will also be available on other places on the internet for free, if you are Highly popular and
an influential personality like Mark Manson who is a New York Times bestseller author or a social media influencer, it can be quite hard for you to make money with a subscription-based website.
But, if you can convince your audience that you provide high-quality content for the price you charged then
You can definitely make a good amount of money and add more people to your blog because it is always a quantity & numbers game.
7. Become a speaker
Last but not least you can also consider offering your blog audience to become a speaker to different events.
Of course you should only consider using this strategy when people know and recognise you in the industry and,
you have a strong and active following on social media as well as large readership on your blog.
So, this monetization strategy may not work with beginners.
Depending upon your popularity and experience you can easily charge up to a few thousand Dollars for attending an event or being a speaker or a guest.
Brands and companies want speakers like you so that they can attract more people to visit their event from your influence at the same time
if you become a speaker you can also get more people get to know about your brand and become your followers in the long run,
you can increase your network and build more connections with other influencers in the industry.
For example there is a popular finance blogger Ramit Sethi of I will teach you to be rich Who is also a speaker,
he does not openly disclose his charge but you can easily contact him from the contact page.
You can create a similar contact page like ramit sethi and let your audience know that you are open for media enquiries and being a speaker.
If you are popular and well known in the industry, people will get to know and approach you for being a guest and speaker to their event.
These are all the best strategies you can use to make money from your finance blog.
With that said let’s conclude the blog post.
These are all the best ways you can use to monetize your finance blog.
Do comment down which monetization strategy you like in the comments section below.
Share the blog post with your family and friends if you have found it helpful.
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I will catch you next time till then keep learning and keep growing.
Hi, I am Praneeth Kumar [19 years aged guy] founder and owner of this blog, I am a blogger and an online entrepreneur by passion and a college student in the Arts Education branch, You can learn my story from a college student to a blogger on the about me page.