Niche Guides / Personal Finance

How to Monetize a Personal Finance Blog and Budget for Profit

Learning how to monetize a personal finance blog properly is a crucial part of turning your passion into a full-time business. Here's how:

By Andrew Fiebert Updated

So, you’ve got your personal finance blog up and running. Now it’s time to start making some money from it.

Whether you’re just starting out or you’ve been at it for a while, there are several ways to turn your blog into a profitable business.

Let’s dive into some proven methods for monetizing your personal finance blog.

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

Some different kinds of affiliate products to recommend in the personal finance blogging niche include:

  • Credit Cards: Recommend credit cards that offer cash back, travel rewards, or other perks for responsible spending.
  • Online Savings Accounts: Promote high-yield savings accounts that offer competitive interest rates and low fees.
  • Investment Platforms: Suggest investment platforms that offer low-cost index funds, robo-advisors, or commission-free stock trading.
  • Personal Finance Books: Review and recommend books on budgeting, investing, and financial planning.
  • Financial Apps: Share apps that help with budgeting, tracking expenses, and managing investments.

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

    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

    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

    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.

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.

Inserting links into WordPress

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.

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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.

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Affiliate Marketing Pros and Cons for Personal Finance Bloggers

For personal finance bloggers, affiliate marketing can be a great way to monetize their content. By promoting relevant financial products or services, bloggers can earn a commission for each sale or lead generated through their referral.

However, there are some potential drawbacks to consider. One of the main cons of affiliate marketing for personal finance bloggers is the potential for a conflict of interest. Bloggers need to be transparent about their affiliate relationships to maintain trust with their audience.

Another downside is the time and effort required to find and promote high-quality affiliate products. It can be time-consuming to research and vet potential partners, and the returns are not always guaranteed.

Overall, with careful consideration and transparency, affiliate marketing can be a valuable revenue stream for personal finance bloggers, but it's important to weigh the pros and cons before diving in.

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 be a great way for personal finance bloggers to monetize their content. They are easy to set up and can generate a steady stream of passive income. However, they can also be intrusive and take away from the user experience on your blog.

On the pro side, display ads can bring in a consistent stream of income, especially if your blog gets a lot of traffic. They require minimal effort to maintain once they are set up, allowing you to focus on creating valuable content for your audience.

On the con side, display ads can slow down your website and make it look cluttered. They may also distract your readers from engaging with your content. It's important to weigh the pros and cons carefully and consider how display ads will impact the overall user experience on your personal finance 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.

Here are some digital products to sell on a personal finance blog:

  • Budgeting templates: Customizable spreadsheets or software to help track expenses and create a budget.
  • Investment guides: Ebooks or webinars on different investment strategies and how to get started in the stock market.
  • Debt payoff planner: Interactive tools or printable worksheets to help users plan and track their debt repayment progress.
  • Financial goal setting workbook: A digital workbook to help users set and achieve their financial goals, such as saving for a house or retirement.
  • Online courses: Video courses on topics like personal finance basics, retirement planning, or understanding credit scores.

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

One of the biggest pros of selling digital products for personal finance bloggers is the potential for passive income. Once the product is created and marketed, it can continue to generate sales without much ongoing effort.

Another advantage is the ability to reach a wider audience. Digital products can be sold to people all over the world, allowing bloggers to expand their reach and impact.

On the downside, creating and selling digital products requires a significant time investment upfront. Bloggers must invest time in product creation, marketing, and customer support.

Additionally, the digital product market can be competitive, making it challenging to stand out and generate sales. Bloggers must be prepared to put in the effort to differentiate their products and attract customers.

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.

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.

Personal finance bloggers have a unique advantage when it comes to monetizing their blogs through email newsletters. Email newsletters are a great way for them to connect with their audience on a more personal level and offer valuable financial advice, tips, and resources.

How to Monetize a Personal Finance Blog with an Email Newsletter

One way to monetize a personal finance blog with an email newsletter is by offering exclusive financial planning or investment advice to subscribers. You can create premium content or courses that are only accessible to your email subscribers. This can be a great way to generate additional revenue from your blog.

Pros and Cons of Email Marketing for Personal Finance Bloggers

  • Pros: Email newsletters allow personal finance bloggers to build a loyal audience, promote affiliate products or services, and sell their own financial products or courses directly to subscribers.
  • Cons: On the downside, email marketing requires time and effort to create valuable content, and there is always the risk of subscribers unsubscribing if they feel overwhelmed with promotional emails.

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

One of the main pros of selling consulting services for personal finance bloggers is the potential for a high income. Many personal finance bloggers have a large and engaged audience, making it easier to attract clients for consulting services.

Another advantage is the ability to establish expertise and authority in the personal finance industry. By offering consulting services, bloggers can showcase their knowledge and skills, which can lead to more opportunities for speaking engagements, partnerships, and other income streams.

On the downside, selling consulting services can be time-consuming and may take away from the blogger's ability to focus on creating content. Additionally, there may be a risk of alienating some followers who are used to receiving free advice and content.

Overall, selling consulting services can be a lucrative opportunity for personal finance bloggers, but it's important to carefully weigh the pros and cons before diving in.

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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

So now you're up to speed on all the ways you can make money from your personal finance blog. But here's one more tip for you:

Try using multiple ways to make money!

Having different income sources is the best way to protect your blog's future. If you promote affiliate offers, use display ads, and sell your own products, then you won't be in trouble if one of them stops making money.

With this approach, along with hard work and planning, you'll be on your way to earning what your blog 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.

Earn More from Your Personal Finance Blog

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