People talk about blogging like it’s this magical thing that can make you rich without you spending any money. What they don’t tell you is that even though it’s theoretically possible to become a millionaire blogging superstar it’s certainly not going to be easy. You need money to grow faster and if you don’t then people in your niche are going to overtake you at thunderous speed. When someone is pumping thousands into banner ads and PPC campaigns they will obviously reach your potential readers quicker than you.
That is why having your personal finances in order before you begin is really important, but if you are already started it’s crucial you begin now. You don’t want to be given a fantastic opportunity only to decline it because your bank balance is sitting at zero. It’s probably a good idea to look into ways you can save money and be financially secure because you’ll have a much better chance of success. Follow these tips and good things will eventually start to happen.
Separate Blogging Fund
It doesn’t really matter how you do this, but try to have somewhere you can keep money that is only for blogging. I’m guessing you know that in a couple of years’ time you will be earning a livable income from your blog? So technically you could struggle with money in everyday life if you lost your job, but even though you were eating noodles you would have a fund to grow your business. Open a new account and put some money away each month for when your blog needs it.
Make a Big Change
There is a famous quote that says you should live a few years like most people won’t, so you can live a lifetime like most people can’t. It’s basically saying you should sacrifice your life for a few years and you will eventually be able to live like a king. Big changes that could save money would be moving back home with your parents, downsizing your home, or even moving to a country where it’s cheaper and you will have a little extra to grow your business.
Close Your Eyes
Whenever you see something that involves spending money you should close your eyes and turn around so you can’t see it. In other words, don’t spend any money that is not directly related to growing your business. What will you do if your laptop decides to stop working and you don’t have the money to pay for another one because you had to buy those new speakers? You can buy hundreds of speakers in a few years, but until then you don’t let that money out of your wallet.
Making the Right Choices
Just because you spend money on your blog doesn’t necessarily mean you’re spending money on the right things. It’s a good idea to spend the majority of your money on things that are going to earn you money. Paying a designer to add custom social media buttons to your site isn’t going to start bringing you in money so don’t spend anything, but getting a good cover designed for an eBook you’re going to sell will bring in lots. In fact, spending money on a design will probably mean you earn more than if you go with a crap design you made yourself, so that is the right choice.
Your blog is an investment that takes a long time to produce results. It can make you money quickly if you throw out any old product, but then you might scare people away. It’s much better having an audience and knowing what they want before you release something and having your own personal savings means you have the money to tide you over until the time is right. The take home message is that you should keep your job for a few years because you need money coming in and you won’t be forced to jump the gun by releasing a crap product.