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 mastered the basics of blogging - registering a domain, installing WordPress, and creating content. Now it's time to monetize your personal finance blog!

Trust me, this will be the most fun you've had since you started blogging.

Whether you're a newbie or an experienced personal finance influencer, these methods will turn your hobby blog into a full-time business. Let's dive into each one.

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

There are several different kinds of affiliate products that are commonly recommended in the personal finance blogging niche. Here are some examples:

  • Credit cards: Recommending credit cards can be a popular choice, as many people are looking for cards with good rewards or low interest rates.
  • Investment platforms: Suggesting investment platforms like robo-advisors or online brokers can be beneficial, as readers may be interested in growing their wealth.
  • Bank accounts: Promoting high-yield savings accounts or checking accounts with good features can help readers find the best banking options.
  • Personal finance books: Recommending books that provide valuable financial advice can be a great way to earn affiliate income and help readers expand their knowledge.
  • Budgeting tools: Introducing budgeting apps or software that can help readers manage their finances effectively can be highly appreciated.

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 $800 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

Affiliate marketing can be a lucrative opportunity for personal finance bloggers. However, it's important to weigh the pros and cons before diving in.

One of the major advantages of affiliate marketing is the potential for passive income. By promoting relevant products or services on your blog, you can earn commissions whenever your readers make a purchase through your affiliate links. This can be a great way to monetize your blog and boost your income without having to create your own products or services.

On the other hand, there are some drawbacks to consider. One of the main challenges of affiliate marketing is the need to strike a balance between promoting products and maintaining trust with your audience. If you constantly bombard your readers with promotional content, it can come across as insincere and damage your credibility. It's important to choose affiliate products that align with your blog's niche and provide genuine value to your audience.

Additionally, affiliate marketing requires ongoing effort and optimization. To be successful, you'll need to continuously track your affiliate links' performance, experiment with different strategies, and stay updated on industry trends. This can be time-consuming and may distract you from creating original content for your blog.

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 valuable source of income for personal finance bloggers. They offer a way to monetize your blog and generate revenue without requiring any direct action from your readers. This means you can continue to provide valuable content to your audience without relying solely on their donations or purchases.

One of the biggest advantages of display ads is their potential to generate passive income. Once you set up the ads on your blog, you can earn money every time a visitor views or clicks on an ad. This can be especially beneficial for bloggers who have a large and engaged audience, as the more traffic your blog receives, the more opportunities there are for ad revenue.

However, it's important to consider the potential drawbacks of display ads as well. One common concern is that they can be intrusive and disrupt the user experience. Ads that are too flashy or take up too much space can make your blog look cluttered and unprofessional. It's important to find a balance between monetization and maintaining a positive user experience.

Another consideration is the potential impact on your blog's credibility. Display ads are often targeted based on user data, which means your readers may see ads that are not directly related to your content or that promote products or services you don't necessarily endorse. This can potentially undermine the trust and credibility you've built with your audience.

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:

  • Financial Planning Template: A downloadable template that helps users create personalized financial plans.
  • Budgeting Spreadsheet: An Excel or Google Sheets template that assists in tracking income and expenses.
  • Investment Guide Ebook: An informative ebook that educates readers about different investment options and strategies.
  • Debt Repayment Calculator: A digital tool that helps individuals calculate how long it will take to pay off their debts.
  • Savings Challenge Workbook: A printable workbook with savings challenges and tips to help people save more money.
  • Credit Score Improvement Course: An online course that teaches techniques to improve credit scores and manage credit effectively.
  • Tax Preparation Checklist: A comprehensive checklist that guides users through the process of preparing their taxes.

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

Selling digital products can be a lucrative opportunity for personal finance bloggers. There are several pros and cons to consider before diving into this venture.

One major advantage is the potential for passive income. Once you create and market your digital product, such as an eBook or online course, you can continue to earn money from sales without much additional effort. This is especially beneficial for bloggers who want to monetize their expertise and reach a wider audience.

Another pro is the scalability of digital products. Unlike physical products, digital products can be easily replicated and distributed to an unlimited number of customers. This means there is no need to worry about inventory management or shipping logistics, making it a cost-effective and efficient option for bloggers.

However, it's important to acknowledge the cons as well. Developing high-quality digital products requires time, effort, and expertise. From creating engaging content to designing appealing visuals, bloggers need to invest in the necessary skills and tools. Additionally, the market for digital products can be competitive, so it's crucial to differentiate yourself and offer unique value to your audience.

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.

How to Monetize a Personal Finance Blog with an Email Newsletter

An email newsletter can be a powerful tool for monetizing your personal finance blog. By building a strong subscriber list, you can engage with your audience on a regular basis and drive traffic back to your blog. Here's how you can monetize your blog with an email newsletter:

1. Offer exclusive content: Provide your subscribers with valuable and exclusive content that is not available on your blog. This can include in-depth financial tips, access to premium resources, or even personalized advice. By offering something unique, you can incentivize readers to sign up for your newsletter and potentially pay for premium content.

2. Affiliate marketing: Include affiliate links in your newsletter to products or services that align with your personal finance niche. When your subscribers make a purchase through these links, you earn a commission. Personal finance bloggers can promote financial tools, investment platforms, or even books on money management. Just make sure to disclose your affiliate partnerships to maintain transparency.

3. Sponsored content: Collaborate with brands and businesses that are relevant to your audience. You can feature sponsored content in your newsletter, such as product reviews, sponsored articles, or even sponsored giveaways. Personal finance bloggers can partner with financial institutions, fintech startups, or companies offering money-saving products. Ensure that the sponsored content adds value to your readers and fits seamlessly into your newsletter.

Pros and Cons of Email Marketing for Personal Finance Bloggers

Pros:

  • Direct communication: Email newsletters allow you to have direct and personalized communication with your audience. This enables you to build a stronger relationship and trust with your readers, making them more likely to engage and convert.
  • Targeted messaging: With email marketing, you can segment your subscribers based on their interests, demographics, or behavior. This allows you to send targeted messages and offers to specific segments, increasing the likelihood of conversions.
  • Higher conversion rates: Compared to other marketing channels, email marketing tends to have higher conversion rates. By nurturing your subscribers and delivering valuable content, you can drive more traffic to your blog and generate revenue through affiliate marketing or sponsored content.

Cons:

  • Email deliverability: Ensuring that your emails land in your subscribers' inboxes can be a challenge. Spam filters, email service provider limitations, and changing algorithms can affect deliverability. It's essential to maintain a healthy email list and follow best practices to avoid being marked as spam.
  • Overwhelmed subscribers: If you bombard your subscribers with too many emails or irrelevant content, they may become overwhelmed or unsubscribe. It's important to strike a balance and provide value without overwhelming your audience.
  • Compliance and legal considerations: Email marketing is subject to various laws and regulations, such as GDPR and CAN-SPAM. Personal finance bloggers should be aware of these regulations and ensure they comply with the necessary requirements, such as obtaining consent and providing unsubscribe options.

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

There are several pros and cons to consider when selling consulting services for personal finance bloggers. On the positive side, offering consulting services can provide an additional stream of income for bloggers and allow them to monetize their expertise in personal finance. By offering one-on-one guidance and personalized advice, bloggers can establish themselves as trusted experts in their field and build a loyal client base.

Another advantage of selling consulting services is the opportunity to make a meaningful impact on individuals' financial lives. Through consultations, bloggers can help clients develop personalized financial plans, set realistic goals, and provide guidance on budgeting, saving, investing, and debt management. The ability to see tangible results and witness clients' financial success can be incredibly rewarding.

However, selling consulting services for personal finance bloggers also comes with its challenges. One of the main drawbacks is the time commitment required. Consulting services often involve dedicating significant time to client meetings, preparing personalized recommendations, and staying up-to-date with the latest trends and regulations in personal finance.

Additionally, there may be limitations in scalability. Unlike passive income streams, such as advertising or affiliate marketing, consulting services require bloggers to actively invest their time and energy. This means that there may be a cap on the number of clients a blogger can effectively serve, potentially limiting their earning potential.

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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 know all the different ways you can make money from your personal finance blog. But here's an extra tip for you:

Try using multiple ways to monetize!

Having different sources of income is the best way to protect your blog's future.

If you promote affiliate offers, use display ads, and sell your own products, you won't be in trouble if Amazon lowers its commission rates again.

By following this strategy, working hard, and planning carefully, you'll be on the fast track to earning what your online business 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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