How to Monetize a Personal Finance Blog and Budget for Profit

Starting a personal finance blog? There's a lot to figure out: picking a domain, setting up WordPress, writing posts, and more. But once you've nailed the basics, it’s time to dive into monetization.

Trust me, this part is where the real fun begins!

Whether you’re just starting out or already a well-known finance guru, there are plenty of ways to turn your blog into a profitable venture. Let’s break down each method so you can make the most of your passion for personal finance.

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.

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, there are a ton of affiliate products you can recommend. Here’s a quick rundown of some great options:

• Budgeting Tools: Apps like YNAB or Mint help users track their expenses and create budgets.
• Investment Platforms: Services like Robinhood or Fidelity make investing accessible for beginners.
• Credit Monitoring Services: Products like Credit Karma or Experian can help people keep an eye on their credit score.
• Personal Finance Courses: Online education platforms like Udemy or Skillshare offer valuable courses on financial literacy.
• Debt Reduction Programs: Services like Freedom Debt Relief provide guidance on managing and reducing debt.

Here are some reasons why these products are great to promote:

• Tested and Trusted: Many of these tools have a proven track record and positive reviews from users.
• High Demand: Personal finance is a hot topic, and people are actively seeking solutions.
• Recurring Commissions: Many offer long-term affiliate programs, so you can earn money over time.
• Wide Appeal: They cater to a varied audience, from beginners to seasoned investors.

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:

1. Vantage

   

   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.

2. QuickBooks

   

   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!

3. Xero

   

   Commission Rate: 10% Per Sale

   Cookie Duration: Unknown

   Xero is online accounting software that connects you to all things business: accountants, bookkeepers, banks, enterprise & apps.

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.

Affiliate Marketing Pros and Cons for Personal Finance Bloggers

Affiliate marketing can be a solid way for personal finance bloggers to monetize their content. When you recommend products or services you believe in, you can earn a commission without any extra effort. Plus, it allows you to provide value to your readers by suggesting tools that can help them manage their finances better.

However, it’s not all sunshine and rainbows. It can be tough to find affiliates that align perfectly with your blog's niche and your audience's interests. If you're not careful, you might end up promoting things that feel out of place or excessively salesy. This can hurt your credibility with your readers, which is critical, especially in the personal finance space.

On the flip side, successful affiliate partnerships can boost your income if they resonate with your audience. Tracking your analytics will help you refine your strategy over time. Plus, you’ll learn what your readers trust, leading to better recommendations and a more authentic connection.

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

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.

Display Ad Pros And Cons For Personal Finance Bloggers

Display ads can be a solid revenue stream for personal finance bloggers, but they do come with their own set of advantages and disadvantages. On the plus side, display ads are relatively easy to implement. You can utilize ad networks like Google AdSense to get started quickly without needing to negotiate with individual advertisers.

Another benefit is the passive income potential. Once set up, these ads run automatically and can earn you money while you focus on creating content. Plus, visually engaging ads can sometimes increase your website's appeal, attracting more visitors, as well.

However, display ads also have their downsides. They can be distracting and may lead to a poor user experience. If not balanced well with your content, ads can drive readers away. Additionally, revenue can be inconsistent, as it largely depends on traffic and engagement levels.

Lastly, there's the concern of ad blindness. Many users have become adept at ignoring ads, especially if they're prevalent throughout a site. This can make it tough for personal finance bloggers to rely on display ads alone for sustainable income.

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.

Here are some digital products you can sell on your personal finance blog:

• Budgeting Templates: Customizable spreadsheets that help your readers track income, expenses, and savings goals easily.
• E-books on Money Management: Comprehensive guides covering topics like debt reduction, saving strategies, or investing basics.
• Online Courses: Paid video lessons or workshops on personal finance topics, such as budgeting, investing, or retirement planning.
• Financial Planning Worksheets: Downloadable PDFs that guide users through creating a financial plan tailored to their needs.
• Investment Trackers: Tools or apps that help users monitor their investment portfolio performance and make informed decisions.

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 have a unique advantage. One major pro is the low overhead. You don’t need to worry about inventory, shipping, or manufacturing costs. That means more profits go directly into your pocket. Plus, once you've created a digital product, it's easy to sell it repeatedly, giving you the potential for passive income.

However, there are cons to consider as well. The competition in the digital marketplace is fierce. Many bloggers are creating e-books, courses, and templates. You'll need to find a way to stand out and attract buyers. Additionally, marketing your product can be time-consuming and requires a solid strategy. If you don't put in the effort, sales may fall flat.

Another downside is the potential for refunds and customer service issues. Since digital products often carry a money-back guarantee, you might face refund requests. Handling such situations can be tricky and may require more time than you anticipate. Building trust and a good reputation is vital to minimizing these risks.

Overall, selling digital products can be a profitable venture for personal finance bloggers, but it comes with its own set of challenges. Weighing these pros and cons can help you decide if this route is right for you.

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:

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.

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 any blogger, especially in the personal finance niche. They allow you to connect directly with your audience, sharing tips, resources, and opinions. Plus, they create opportunities for monetization through sponsored content, affiliate marketing, and more. When you nurture a dedicated subscriber list, you open doors to ongoing engagement and revenue streams.

To monetize your personal finance blog through an email newsletter, start by building a targeted email list. Offer something valuable in exchange for email subscriptions, like a free ebook, budgeting templates, or exclusive financial tips. This ensures that your audience is genuinely interested in your niche, giving you a better chance of influencing their financial decisions.

Once your email list grows, consider incorporating affiliate links within your newsletters. Recommend products or services that align with your audience's needs—like investment apps, budgeting software, or money management courses. Be transparent about affiliate relationships to maintain trust. Personal finance bloggers have a unique advantage here, as their audience is often seeking credible resources to improve their financial literacy.

Another way to monetize your email newsletter is to offer premium content. You can create a subscription service for exclusive articles, in-depth financial analyses, or personalized budget plans. This not only positions you as an authority in personal finance but also can generate steady income from loyal followers who find great value in your specialized knowledge.

Pros and Cons of Email Marketing for Personal Finance Bloggers

• Pros:
  • Direct Connection: Email allows for a personal touch, fostering a relationship between you and your readers.
  • Targeted Audience: Subscribers are often more invested in your content, leading to higher engagement and conversion rates.
  • Repeat Traffic: Regular newsletters encourage repeat visits to your blog, increasing page views and potential ad revenue.
  • Control Over Content: You dictate what to share and when, without relying on social media algorithms.
• Cons:
  • Time-Consuming: Managing an email list and creating regular content can be labor-intensive.
  • Quality over Quantity: Growing a meaningful subscriber base takes time and effort; quick results are rare.
  • Unsubscribes: Some readers may opt out, impacting your list size and engagement metrics.
  • Compliance Issues: Following regulations like GDPR can be complicated if you have international subscribers.

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.

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

Selling consulting services as a personal finance blogger can be a game changer. One major pro is the potential for increased revenue. Bloggers can leverage their expertise to offer personalized advice, which often commands higher fees than traditional advertising. Clients appreciate tailored guidance that addresses their specific needs, leading to strong demand for these services.

On the flip side, there are some cons to consider. Providing consulting services requires a significant time commitment. This could divert your focus from content creation, which is essential for growing your audience. Additionally, if you don’t communicate your value effectively, you might struggle to attract clients.

Another pro is the chance to build relationships. Consulting allows you to engage directly with clients, fostering trust and loyalty. This close interaction can lead to networking opportunities and word-of-mouth referrals over time. However, the downside is that handling clients comes with responsibility. You might face the pressure of delivering results, especially if clients have high expectations.

Overall, offering consulting services can enhance a personal finance blog's impact and profitability. Just make sure you're ready for the trade-offs that come with it.

Personal 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

Now that you’ve explored all the various ways to monetize your personal finance blog, here’s a bonus tip:

Embrace multiple monetization methods!

Mixing up your income streams is key to securing your blog’s future.

If you promote affiliate offers, use display ads, and create your own products, you won’t be caught off guard if one option dips.

With this approach, plus some hard work and smart planning, you’re set to boost your blog’s earnings.

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.