Starting a personal finance blog is just the beginning. Once you've got the hang of basics like setting up your site and posting content, it's time to make some money from it. Trust me, monetizing your blog is as exciting as it gets!
No matter if you're just starting out or you're already a big name in personal finance blogging, I've got some cool ways for you to turn your blog into a serious income source. Let's dive into these methods one by 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
Hey there! In the personal finance blogging niche, there are loads of cool affiliate products you can recommend. Here are some top picks:
- Budgeting Apps: Apps like YNAB (You Need a Budget) or Mint help readers manage their finances effectively. They often offer a commission for sign-ups through your affiliate link.
- Investment Platforms: Platforms like Robinhood or Acorns are great for beginners and seasoned investors. They usually provide a bounty for new accounts opened through your referral.
- Personal Finance Books: Recommending books from Amazon or another online bookstore can earn you a percentage of sales. Choose books that have helped you or come highly recommended.
- Credit Monitoring Services: Services like Credit Karma or Experian are crucial for those looking to improve their credit score. These services often have affiliate programs that reward for leads or sales.
- Online Courses: Courses on platforms like Udemy or Coursera about financial literacy can be a big hit. They offer a commission for students who enroll through your affiliate links.
- Insurance Products: Recommending car, home, or life insurance can also be profitable. Companies often pay for leads or when someone gets a quote through your link.
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:
-
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.
-
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!
-
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.
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 powerful tool for personal finance bloggers. It allows you to earn a commission by recommending products or services that genuinely help your audience manage their finances better. By integrating affiliate links for financial tools, books, or courses, you can provide valuable resources while also monetizing your blog. It's crucial, however, to choose partnerships that align with your blog’s values and content to maintain trust with your readers.
However, there are some downsides to consider. Over-reliance on affiliate marketing can sometimes lead to a compromise in the authenticity of your content. If every post is heavily loaded with affiliate links, it might turn off readers who are seeking genuine advice rather than feeling like they're constantly being sold something. Additionally, income from affiliate marketing can be inconsistent. It largely depends on the traffic your blog generates and the conversion rate of your affiliate links, which can fluctuate widely.
Another point to consider is the technical side of setting up and managing affiliate links. There's a learning curve here, and maintaining up-to-date links can be time-consuming. Plus, you need to be aware of and comply with legal requirements, such as disclosing affiliate relationships to your readers. This transparency is crucial not only for legal compliance but also for maintaining the trust of your audience.
Ultimately, affiliate marketing can be a beneficial strategy if implemented thoughtfully. It's essential to balance promotional content with informative posts that provide real value to your audience. This balance helps in sustaining a loyal readership while also capitalizing on the revenue potential that affiliate marketing can offer.
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 lucrative revenue stream for personal finance bloggers. They provide a passive income as you earn from views and clicks without extra effort after initial setup. Most ad networks, like Google AdSense, are easy to integrate into your blog, and they automate much of the process. This means you can focus more on creating great content while your ads work in the background.
However, there are some downsides to consider. Display ads can sometimes detract from the user experience on your blog. If ads are too intrusive, they might overshadow your content or annoy your readers, potentially increasing your site's bounce rate. It's crucial to strike the right balance between ad placement and content visibility.
Another point to consider is the relevance of ads. Ad networks typically target ads based on user behavior and cookies, but they might not always align perfectly with your niche in personal finance. This mismatch can sometimes lead to less effective monetization, as the ads may not appeal to your specific audience.
Also, reliance on ad revenue can be risky due to fluctuating market rates and changes in ad network policies. Economic downturns or shifts in online advertising strategies can significantly impact your earnings. Diversifying your income streams, such as through affiliate marketing or selling digital products, can help mitigate this risk.
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.
- Budget Planner Templates: Customizable Excel sheets or PDFs to track spending and savings.
- Investment Ebooks: Guides on stocks, bonds, and other investments, perfect for beginners or advanced investors.
- Financial Webinars: Live sessions covering topics like debt reduction, retirement planning, or tax strategies.
- Credit Improvement Guides: Step-by-step ebooks or videos on boosting your credit score effectively.
- Personal Finance Courses: Comprehensive video courses that tackle budgeting, investing, and managing loans.
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 major advantages of selling digital products as a personal finance blogger is the potential for passive income. Once you create and set up your product, whether it's an eBook, course, or financial planning tool, it can be sold repeatedly without much additional effort. This means you can earn money while focusing on other aspects of your blog or even while you sleep. Additionally, digital products have minimal overhead costs compared to physical goods, enhancing profit margins.
However, the digital marketplace is highly competitive. Standing out requires not only high-quality content but also strategic marketing. Personal finance bloggers need to invest time in SEO, social media marketing, and possibly paid advertising to ensure their products reach their target audience. This initial effort can be substantial and may require ongoing adjustments to keep up with market trends and competition.
Another drawback is the technical aspect of selling digital products. You need to manage an online store, handle customer downloads, and ensure digital security. For bloggers who are not tech-savvy, this might mean hiring help, which can cut into profits. Furthermore, digital products are susceptible to piracy, which can affect sales and revenue.
Despite these challenges, the flexibility and scalability of digital products make them an attractive option for many bloggers. With the right product and strategy, selling digital products can significantly boost your income as a personal finance blogger, contributing to a diverse revenue stream beyond ad sales and affiliate marketing.
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 a powerful tool for personal finance bloggers looking to monetize their content. By collecting subscribers' email addresses, bloggers can create a direct line of communication with their audience. This channel is ideal for promoting content, sharing exclusive tips, and offering personalized financial advice, which can significantly enhance audience engagement.
To monetize an email newsletter, start by integrating sponsored content or advertisements that align with your audience's interests in personal finance. For instance, promoting financial tools, investment apps, or educational courses can generate affiliate income. Another effective strategy is to offer premium content, such as in-depth financial guides or early access to blog posts, for a subscription fee.
Additionally, using the newsletter to promote webinars or online courses you create can be highly profitable. Ensure that these offerings solve specific financial problems or educate on topics like investment strategies, saving tips, or tax planning. Personal finance is a niche where tailored advice is highly valued, making these offerings particularly lucrative.
Pros and Cons of Email Marketing for Personal Finance Bloggers
- Pros: Direct Engagement: Email allows personal finance bloggers to build trust by regularly sending targeted, valuable content directly to their subscribers.
- Pros: High Conversion Rates: Readers of personal finance blogs are often looking for specific advice and solutions, making them more likely to engage with personalized, relevant offers.
- Pros: Cost-Effective: Compared to other marketing platforms, email marketing is relatively inexpensive, offering a high ROI which is crucial for bloggers monitoring their own financial efficiency.
- Cons: Over-Saturation: Many users receive numerous newsletters, which means your content needs to stand out to avoid being ignored or deleted.
- Cons: Maintenance Effort: Building and maintaining an email list, along with crafting engaging content, requires consistent effort and can be time-consuming.
- Cons: Risk of Unsubscription: If the content is too frequent or not sufficiently tailored, there is a high risk of subscribers opting out, which can hurt overall engagement and revenue potential.
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 advantages of selling consulting services as a personal finance blogger is the potential for significant income growth. Consulting allows you to leverage your expertise and build one-on-one relationships, which can lead to higher earnings than ads or affiliate marketing alone. Additionally, it establishes you as an authority in the field, which can attract more readers and opportunities.
However, consulting does have its drawbacks. It requires a considerable amount of time and effort to provide personalized advice, which can detract from content creation for your blog. There's also the challenge of scaling the business since there are only so many hours in the day to consult with clients personally.
Furthermore, managing client expectations can be tricky. Unlike writing blog posts where the audience consumes information passively, consulting clients expect specific, actionable advice tailored to their unique financial situations. This demands not only a deep understanding of personal finance but also the ability to communicate effectively and adjust strategies based on individual needs.
Lastly, there's the issue of liability. Giving personal financial advice carries certain legal risks, and it's essential to have the proper disclaimers and potentially even professional indemnity insurance. This legal aspect can be daunting and requires careful consideration and possibly consultation with a legal professional.
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
So, you've mastered all the ways to make money from your personal finance blog. Here's a quick tip before you go: Mix it up with different monetization strategies!
Why? Because it's safer. If one method dips, like if Amazon slashes commissions, your blog's income won't tank. Combine affiliate marketing, ads, and your own products for the best results.
Keep pushing, plan wisely, and watch your blog's earnings grow. You're all set to make what you deserve from your online business!
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.
