Starting a personal finance blog is exciting! But after you get the hang of things like registering a domain and installing WordPress, it’s time to make some money.
Trust me, figuring out how to monetize your blog can be the most fun part of the journey.
Whether you’re just getting started or you’ve been blogging for a while, these strategies can help you turn your blog from a hobby into a real business. Let’s dive into each option!
Why You Can Trust Our Personal Finance Blog Monetization Guide
Lasso is installed on over 8,000 websites, including many personal finance blogs.
Our team has built multiple 7-figure blogs in a wide range of niches.
We have hands-on experience working with founders to grow and monetize their personal finance blogs.
1. Affiliate Marketing
Affiliate marketing is the best monetization method for personal finance bloggers because it hits the sweet spot between time investment and earning potential.
Affiliate marketing is a form of advertising where a publisher (the site owner) links to a product in their content and earns a commission from the advertiser (the affiliate program) if readers click on that link and make a purchase.
TIP: With all monetization methods, the rule of thumb is the easier it is to accomplish, the less money you can make, and vice versa.
Also, since you can add links to your existing content, it’s the perfect method for beginners. You’ve already written content, so you’ve already done the hard part.
How to Start Affiliate Marketing for Personal Finance Bloggers
When diving into the personal finance blogging niche, affiliate products can really boost your income. Here’s a list of various types of products you might consider recommending:
1. Budgeting Apps: These tech tools help users track their spending and save money.
2. Investment Platforms: Whether it's stocks, ETFs, or cryptocurrency, people love platforms that simplify finance.
3. Online Courses: Many individuals seek knowledge to manage their finances better.
4. Credit Monitoring Services: These services help users keep tabs on their credit score and report.
5. Savings and Investment Books: Timeless wisdom from experts can guide readers on their finance journey.
6. Personal Finance Coaching: One-on-one guidance can lead to significant financial improvements.
Here are a few reasons to pick these products:
- High Demand: Personal finance is a hot topic, and many are actively searching for help.
- Recurring Income: Subscription services can provide continuous commissions.
- Value Offering: You’re promoting products that genuinely help improve financial situations.
- Trust Factor: Well-reviewed products can build credibility with your audience, boosting conversions.
- Easy Integration: Many affiliate networks make it simple to promote these products on your blog.
Once you’ve identified which products will solve problems for your readers, you need to sign up for their affiliate programs.
You should start by joining the Amazon Associates affiliate program.
Most physical products in the personal finance niche will be available on Amazon, and the conversion rate on Amazon is insane.
Yes, Amazon’s commission rates are rough, and they only offer a 24-hour cookie duration, but the conversion rate makes up for it. Plus, you’re nearly guaranteed to get accepted into their program.
For products that aren’t available on Amazon, just Google “[Product] affiliate program,” and you’ll find their program’s signup page.
To save you some time, here are a few of the best affiliate networks for personal finance bloggers:
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Commission Rate: $250+
Cookie Duration: 30 - 90 Days
Olavivo is a boutique affiliate network with a focus on Ecommerce, Health & Beauty, Sweepstakes, Gaming, Dating, Finance and Cryptocurrency.
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Commission Rate: Up to $1,200 CPA
Cookie Duration: 30 Days
Vantage is a global, multi-asset broker offering a robust and efficient service for trading CFDs on Forex, Commodities, Indices, Shares, and Cryptocurrencies. Vantage has a reputation for delivering high standards of trading to clients by providing a trusted trading ecosystem.
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Commission Rate: 10% Per Sale
Cookie Duration: 45 Days
QuickBooks is an accounting software package developed and marketed by the company Intuit. Earn a referral fee by selling QuickBooks software!
TIP: We maintain a database of the best affiliate programs. Click here to see the best financial affiliate programs.
Once you’ve been approved for the product’s affiliate program, the program will give you your affiliate link, and you can start inserting it into your content.
How To Monetize A Personal Finance Blog With Affiliate Marketing
To add your link to your content, go to your post editor, highlight the relevant text, and insert the link.
Here are a few best practices for adding affiliate links to your WordPress blog:
- Add links where it’s helpful. Adding too many links to your blog posts is just like adding too many ads; it’s annoying. Add links to product titles, images, CTA buttons, and the first time you mention a product. That’s plenty.
- Disclose your links. Every blog post with affiliate links should have a disclaimer at the beginning, and every CTA or product image should also.
- Use direct sales language. When you are writing your call to action, be direct. It’s not rude to say, “Check the price” or “Buy this product today.” Being too passive makes you look unconfident.
Or, take it a step further by creating product displays.
You Can Double Your Affiliate Sales With Lasso Displays
You can create displays manually using the post editor to add links to images and buttons.
However, it can be time-consuming to create these displays and keep them updated if you’re doing it all by hand.
Luckily, monetizing your blog with affiliate links is simplified when you’re using a tool like Lasso.
Lasso makes it super easy to add links and product displays to your posts. You can add product displays to posts right from the post editor; no coding is required. It’s as simple as clicking your mouse three times.
You can also automatically import product info from retailers like Amazon. Just paste the link into the Lasso dashboard, and Lasso will populate the display with the product title, image, and price.
With all of this, remember to follow the guidelines in the affiliate program’s terms and conditions. Amazon, in particular, is pretty stringent.
But everything Lasso does is compliant with Amazon Associates’ TOS, so you never have to worry about being booted from the program.
That’s just scratching the surface of what Lasso can do to help you monetize your personal finance blog. If you’re ready to start making a serious affiliate income from your personal finance site, sign up for Lasso today.
A WordPress plugin that lets you add, manage, and display your affiliate links from any program, including Amazon. Increase conversions. Find new affiliate link opportunities. Earn more revenue! Less than 5 minutes to set up.
Affiliate Marketing Pros and Cons for Personal Finance Bloggers
Affiliate marketing can be a game-changer for personal finance bloggers. It allows you to monetize your content by promoting products or services that resonate with your audience. When done right, you can earn a decent income from commissions without needing to create your products.
However, it does have its downsides. Building trust with your audience is crucial. If you promote every product that comes your way, you risk losing credibility. Readers might feel you prioritize commissions over genuine recommendations.
Another challenge is the competition. With so many bloggers in the personal finance niche, standing out can be tough. You’ll need to find your unique angle and target audience to truly make affiliate marketing work for you.
To succeed, choose high-quality affiliate programs that align with your values and your audience’s needs. Being selective not only helps with credibility but can also lead to higher conversion rates
2. Display Ads
The second best way to monetize your personal finance blog is with display ads. Ads are the internet's favorite monetization method, but they have severe drawbacks.
How to Monetize a Personal Finance Blog With Display Ads
Monetizing a personal finance blog with display ads couldn’t be easier.
First, choose an ad network to join. Networks have traffic requirements, so here are the best ad networks to join based on your site’s page views:
- 100,000+ Visitors per month - Raptive
- 50,000+ Sessions per month - Mediavine
- < 50,000+ Visitors per month - Ezoic
NOTE: WordPress is an open-source software found on WordPress.org. WordPress.com is a premium blogging platform, but you never need to pay to install WordPress on your website, even if it’s self-hosted.
Once you’re accepted to an ad network, follow their instructions to integrate their ads into your site. They will have documentation for every type of content management service (WordPress, Joomla, Ghost, etc.).
If your chosen ad network has a dedicated accounts manager, they will guide you through getting their ads on your site.
And… that’s it. Let the ads run and wait for your deposits to hit your account.
TIP: Optimize your display ads for user experience by using your chosen network’s software settings or talking to your account manager. Keep the ads in the sidebar and footer whenever possible.
You’ll make a lot of money in the long run if you put your readers ahead of quick profit.
Display Ad Pros And Cons For Personal Finance Bloggers
Display ads can offer a steady stream of income for personal finance bloggers. They are relatively easy to set up through platforms like Google AdSense or Mediavine. With just a few clicks, you can start earning money whenever someone visits your site and views or clicks on your ads.
However, one downside is that these ads can clutter your blog. Too many ads might annoy your visitors, leading to a poor user experience. If readers feel overwhelmed, they might leave your site, resulting in lost traffic.
Another factor to consider is the revenue potential. While display ads can generate passive income, the payouts often fluctuate. Niche competition, seasonal trends, and ad blocker usage can all impact your earnings significantly. It's vital to monitor performance regularly.
In short, while display ads can be a great source of income, they come with potential drawbacks. Balancing ad placement while maintaining a reader-friendly experience is key to making it work for your blog.
3. Digital Products
Selling your own digital products is a great way to increase your earnings per visitor in the personal finance niche.
A digital product is anything you can sell on your personal finance blog that the customer will receive via download.
Digital Products to Sell on a Personal Finance Blog:
- Budgeting Templates: Easy-to-use spreadsheets that help readers track their income and expenses.
- Financial Planning E-Books: Guides that cover saving, investing, and debt management strategies.
- Online Courses: Interactive lessons that teach skills like budgeting or investing basics.
- Personal Finance Webinars: Live sessions where experts discuss trending topics and answer questions.
- Printable Budget Worksheets: Customer-friendly worksheets to make budgeting more hands-on and practical.
A lot of people search for simple checklists and guides related to different topics. They’d happily pay you for them.
Pros and Cons of Selling Digital Products for Personal Finance Bloggers
When it comes to selling digital products, personal finance bloggers can really benefit. One major pro is the low overhead cost. You don’t need to worry about manufacturing, warehousing, or shipping. All you need is a solid product to upload, and the potential for profit is huge.
Another advantage is that digital products can be sold repeatedly without any extra effort. This means passive income. Once they’re created, they can keep selling over and over, letting you earn money even while you sleep.
However, there are downsides too. It can be tough to stand out in a crowded market. If your product isn't unique or high-quality, it might get lost in the shuffle. Plus, creating digital products requires time and expertise upfront. You’ll need to invest in learning or creating the content.
Lastly, marketing is key. It’s not just about having a product; you also have to promote it effectively. If you don’t have a clear strategy for reaching your audience, even the best digital product can go unnoticed.
How To Monetize a Personal Finance Blog By Selling Digital Products
The first thing to do is create your digital product.
Look at which content your audience interacts with the most, and brainstorm digital products to help serve their search intent.
That’s what I did when I created our Ultimate Blogging Guide:
Get Your FREE 20-Page Guide To Making $1000/Day From Your Niche Blog
Then, create the product using whatever tools are at your disposal. For example, use Microsoft Word to create an ebook PDF, or Google Sheets to create interactive spreadsheets and checklists.
Next, you have to figure out how to distribute your product. The easiest way to distribute PDFs is by uploading them to your WordPress media library. Then you can give customers the link, and they can download the PDF from there.
Lastly, you’ll have to set up payment processing and order fulfillment. A plugin like Woocommerce can automate most of this, but you’ll have to tie it to a processor like Stripe or PayPal.
Woocommerce can even connect to an email tool like ConvertKit, so as soon as your customer finishes their checkout, they’ll get an email with a link to their download.
TIP: You can still use Lasso to get more clicks to your digital products. Just create a Lasso display with the link pointing to your product’s sales page.
Barring any issues, you won’t have to do anything but watch your bank account grow.
4. Email Newsletter
One effective way to monetize a personal finance blog is by creating an email newsletter. This method allows you to build a loyal audience and engage with your readers on a more personal level. Let's explore how to monetize a personal finance blog with an email newsletter and the pros and cons of email marketing for personal finance bloggers.
How to Monetize a Personal Finance Blog with an Email Newsletter
Email newsletters are powerful tools for Personal Finance bloggers. They allow you to connect directly with your audience, delivering valuable content straight to their inbox. This personal touch not only fosters loyalty but also creates ample opportunities for monetization through targeted offers and affiliate marketing.
To monetize your blog with an email newsletter, start by building a strong subscriber list. You can do this by offering a freebie related to personal finance—like an e-book, budgeting spreadsheet, or exclusive financial tips. This not only encourages sign-ups but positions you as an authority in the niche. Once you've built a solid list, create and send regular newsletters packed with actionable advice and helpful resources.
In your newsletters, include affiliate links to tools and services that you genuinely recommend. For example, if you endorse a budgeting app, share your affiliate link along with a personal story about how it helped you. This authentic touch can improve click-through rates and conversions. Additionally, consider creating premium content made exclusive to your subscribers. Charging a monthly fee for access to in-depth guides, financial planning templates, or coaching sessions can further boost your income.
Another great strategy is to run occasional product promotions or sponsorships. If you partner with financial companies for sponsored content, make sure these collaborations align with your audience's needs. This passive income stream can significantly contribute to your overall revenue without compromising the valuable information you provide.
Pros and Cons of Email Marketing for Personal Finance Bloggers
- Pros:
- Direct Communication: Email allows for a personal connection with your audience, making them feel valued.
- High Conversion Rates: Email marketing campaigns often lead to higher engagement and conversion rates compared to other marketing channels.
- Ownership: Unlike social media platforms, your email list is an asset you own and can rely on regardless of platform changes.
- Targeted Offers: You can tailor promotions to specific segments of your audience, making your content and offers more relevant.
- Cons:
- Email Fatigue: Subscribers may feel overwhelmed by too many emails, so managing frequency is crucial.
- Deliverability Issues: Emails might end up in spam folders, reducing your reach if not optimized correctly.
- Time-Consuming: Creating and managing an effective email marketing campaign requires consistent effort and planning.
- Trust Building Takes Time: Gaining your audience's trust through email will take time and quality content.
5. Consulting and Coaching Services
Consulting or coaching is exchanging your expertise and time for a fee. Your customers need an expert, and you’ve proven yourself to be that expert.
As you become an authority in the industry, people will reach out to you with questions about topics they consider you an expert in.
Now, you don’t have to charge for being helpful, but you should place a dollar value on your time.
As a personal finance blogger, you extensive knowledge of the industry. If a reader reaches out to you asking for help, you should get paid for that effort.
How To Monetize A Personal Finance Blog With Consulting Services
Monetizing a personal finance blog with consulting services is similar to selling sponsored posts.
Put a “Coaching” option in your nav bar that goes to a landing page outlining your consulting services and your hourly rate. This will help head off some of the people looking for free advice.
TIP: Again, you can use Lasso to drive more clicks to your coaching pages. Just create a Display with a link to your sales page, and insert it into blog posts.
Then, wait for requests to come in, evaluate them, and propose your offer. If the customer accepts, send them an invoice using PayPal or another payment processor, and schedule the call.
Pros and Cons of Selling Consulting Services for Personal Finance Bloggers
When selling consulting services, personal finance bloggers can tap into a lucrative market. Many individuals seek expert guidance on budgeting, saving, and investing. The credibility you’ve built through your blog can position you as a trusted advisor. This can lead to strong client relationships and repeat business.
However, there are downsides to consider. For one, consulting relies heavily on your personal brand. If you don’t deliver results, it could negatively impact your reputation. Additionally, client management can be time-consuming and stressful, especially as your audience grows.
On the flip side, you can set your own rates which gives you control over your income. Consulting also allows for flexibility in your schedule. You can choose to work with specific clients who align with your values and interests, making the process more enjoyable.
Supercharge your earnings with Lasso. Create no-code product Displays and Tables that convert, find and fix broken links, and gain valuable business insights with revenue analytics.
Learn MorePersonal Finance Blog Monetization FAQs
What Is The Best Way To Make Money From Personal Finance Blogging?
If you want to build a successful personal finance blog, then affiliate marketing is the best way to monetize it. It’s the least intrusive way to make a lot of money from your site without much extra effort.
Can I Make A Full-Time Income From Personal Finance Blogging?
Absolutely! Some personal finance blogs, like Money Crashers and Get Rich Slowly get hundreds of thousands of monthly visitors. That’s enough for a full-time income for a small team of people.
How Do I Start a Personal Finance Blog?
Learning how to start a personal finance blog is the first best way to use your expertise to start an online business.
You need to register a domain, install WordPress, and publish great content. It's a lot of work, but totally worth it!
How Do Personal Finance Bloggers Get Paid?
Most personal finance bloggers make money through affiliate commissions and advertising fees. Both of these monetization methods pay out one or two months after the fees have been generated.
Some personal finance bloggers also sell sponsored posts, consulting services, or their own products. In these cases, a payment processor like PayPal or Stripe is necessary.
Is Personal Finance Blogging Easy?
Nothing worth doing is truly easy, but that doesn’t mean personal finance blogging isn’t fun.
As a personal finance blogger, you’ll get to go places, try new things, and meet new people. And it will be part of your business! What could be cooler than that?
Is It Worth Starting A Personal Finance Blog?
It’s absolutely worth it to start a personal finance blog. Not only can you make a living from it, but you can also build a community and control the conversation.
Once you’re an established authority, people in personal finance-related industries will take you seriously.
Final Thoughts on Monetizing a Personal Finance Blog
As you wrap up your journey into monetizing your personal finance blog, here's a key tip to keep in mind:
Mix it up! Using various methods to make money is essential.
Diversifying your income streams helps secure your blog's future.
By promoting affiliate offers, using display ads, and selling your own products, you're less vulnerable if one income source takes a hit.
A multi-faceted approach, combined with your hard work and smart planning, will set you on the path to earning what your blog truly deserves.
Why You Should Trust Our Personal Finance Blogging Content
You may be thinking, "that's all great, but what does Lasso know about personal finance blogging?"
Quite a lot, actually.
Here's why you can trust our process for building a successful personal finance blog:
We've Built Wildly Successful Blogs
Lasso is built for affiliate marketers, by affiliate marketers. We're not gurus; we've walked the walk.
Our team members have built multiple blogs from the ground up, some of them earning over seven figures in revenue.
We put that experience into every guide we write, so you can trust we're giving you a process that works.
We Talk To Personal Finance Bloggers Every Day
Lasso's WordPress plugin is installed on over 8,000 websites, including a lot of personal finance blogs.
Our team supports those bloggers every day as they create awesome content and earn lots of money.
These communications give us a bird's-eye view of what's new in the personal finance industry. We take that information and use it to keep these guides as up-to-date and accurate as possible.
We're Super Nerds
We've put a lot of company focus into learning everything we can about blogging, affiliate marketing, SEO, and anything to do with online entrepreneurship.
We attend conferences, collect high-level contacts, read tons of books, and distill all of that information into our content. We pass information onto you that was previously only available to industry insiders.
