If there’s one type of post I’ve gained incredible knowledge from it’s other bloggers income report.
Reading the entire archives of influential bloggers like Pat Flynn, Michelle Schroeder-Gardner, Millennial Money Man and Breaking the One Percent income reports is a smart way to learn how to make money blogging.
It’s also inspiring. Each of these bloggers started from scratch, made mistakes, and are better because of it.
I’ve debated doing an income report here now for a few months. I decided to for three reasons:
- The value they provide readers looking to start a blog
- I like the idea of greater transparency of how TW2W makes money
- It forces me to take a good hard look at my business to see what’s working, what’s not, and commit to goals
Looking back at my own career, the decision to start a blog in 2009 (this is my 2nd personal finance blog) was one of the wisest career choices I made.
Being known as a combination of CFP® and digital marketing expert has opened many doors for me.
- I’ve spoken at Northwestern University to students about personal finance
- Been interviewed in major media like Bloomberg
- Been able to secure freelance opportunities as a writer
Done right, starting a blog can take your career to new levels too. If you’re interested in starting a blog, I have a free 7-day email course: How To Make Your First $1K Blogging
In 7 days, you’ll learn all about how to launch your blog the right way, from the technical side to marketing.
Here’s what you’ll learn each day:
- Day 1: Reasons you should (or shouldn’t) start a blog
- Day 2: How to determine what to blog about
- Day 3: An insanely simple guide to launching a blog
- Day 4: How to make your blog a profitable blog that matters
- Day 5: My best traffic tips
- Day 6: Getting the maximum results in minimum time
- Day 7: Trusted free blogging resources
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A Brief Recap of The Ways To Wealth
I published a handful of random posts in 2016 but didn’t get serious until February of 2017.
I put in about 15-25 hours a week on TW2W since. Publishing a total of about 50 posts.
This is also my 2nd personal finance blog. The first I started in 2009 and sold in 2012.
May Blog Income Report
- FlexOffers: $177
- eBates: $116.28
- Amazon Associates: $51.40
- iGain: $33
- 30 Days Or Less To Virtual Assistant Success: $39.60
- MaxBounty: $43.30
- Consulting: $495
I was happy to earn $455.58 from the blog alone. This is the highest income I’ve recorded yet from TW2W.
As you can tell, as of now, this blog has no ads. How I make money is through affiliate marketing. For example, when someone clicks on a link in my popular Best Investing Books post, I get a referral fee from Amazon for whatever they buy.
Aligning yourself with companies and products you believe in is a smart strategy for monetization. I didn’t know much about the opportunities available through until I read Making Sense of Affiliate Marketing. Michelle earns well over six figures a month as a personal finance blogger. Her course really opened my eyes to the possibilities. I highly recommend it to anyone who has or is considering a blog.
On top of the blog income. I was able to land a nice consulting gig, based on the skills I acquired from blogging.
This brought my total to $955.58.
- Long Tail Pro: $37
- Google Services: $5
Long Tail Pro is a keyword research software that helps me decide what to write about. It uses a proprietary keyword score to determine the difficulty I have of ranking for different keywords. When I target keywords Long Tail Pro recommends, I typically get on the first page within a week.
This software is a luxury to have. Saves me a lot of time. However, isn’t required if you’re on a budget.
I then pay $5 a month for Google Services like email.
Net Income: $913.58
Here’s the traffic for the site in May, compared to April:
I’m happy with the growth. In a perfect world, my bounce rate would be decreasing faster. This is something I’m working on though. Some actions I’ve been taking are; linking to other posts on the blog earlier in the article, decreasing load time, and writing better intros.
Pinterest and Google are my two main referrers. These two traffic sources I prefer due to their evergreen nature.
What’s been working for me on Pinterest is testing multiple pins per post. One small headline tweak can make the difference between a Pin getting a dozen or a thousands clicks.
If there’s one aspect of growth I’m must enthused about is email signups. TW2W currently has 414 subscribers. This is up from 193 to start the month.
Since I only started collecting emails in March, I’m very happy with the growth.
For those who sign up to the email list, I offer a free workbook on setting financial goals. You can sign up below.
HOW TO SET FINANCIAL GOALS
A step-by-step process for setting financial goals that connect the dots between your money and your happiness. Simply opt-in below to have it sent straight to your inbox!
Other Online Income
A friend and myself started a business selling products on Amazon. We launched in late May.
By launch I mean we got our product up on Amazon. There was no marketing or promotion.
We’re taking this business fairly slow. Learning as we go.
And so far, I’m encouraged.
The revenue for the month of May was $256.89.
I know not much but at we are on pace to sell out our first order. More so, this is with no reviews, no advertising, and only being listed for about a week on Amazon.
This again is revenue, not net income. I’m nowhere near profitable yet in this business. Furthermore, if things go well, I don’t expect to take money out for quite some time.
So what’s ahead for the blog in June?
I’m not in a groove yet with writing. I’ve been publishing 2-3 times a week, whenever I have sometime to publish.
In June, my goal is to publish every Tuesday and Thursday.
I’m set for a very busy June in terms of my career, which will take away a lot of time I can spend on this blog. It’s important I prioritize my day. Committing to a schedule will hopefully help manage the feeling like I should always be writing.
As I mentioned, one of the reasons I wanted to create an income report was that it forces me to evaluate what’s working and my plans/goals for the future. At this point, it’s working because as I write this I don’t have any concrete plans for the blog. I just have a bunch of ideas in my head of where I want to take it.
I need to change that!
So, other than publishing twice a week, another goal in June is to go through Ruth Soukup’s Goal Setting Workbook for Bloggers.