Is Blogging Easy Money?
Hi All,
For you long time readers of Dual Income No Kids, you've probably realized that this blog has turned into a small business. So, we wanted to give our readers some insight into the profitability of our blog and what it's taken to get there.
First off, you can make money blogging. In fact, here is a chart showing our monthly earnings for the past two years. For most of the second quarter of 2008 we've been averaging a bit more than $600 a month. 2006 and 2007 weren't as good, but things have been picking up recently. Keep in mind that we didn't focus greatly on income generation during the early days of blogging. Since we have made an effort in that area we have been rewarded for that effort.
However, No its not easy money. A lot of effort goes into making dinksfinance.com happen. For example, to generate a good posting can take up to three or four hours. Some research is involved, as well as drafting, edits and more edits. Additionally, being a blogger means that you have to develop some understanding of html coding, and learn the basics of search engine optimization. So a lot of time is spent on these types of infrastructure and accessibility issues.
There is a very low barrier to entry for bloggers. Starting a blog on Google's blogspot or other platforms is essentially free. As a result there are hundreds of personal finance blogs. Now, from the standpoint of blogging as a business, this means there is a great deal of competition for readers. In addition, blogs are valued partially based on the number of other websites that link to them. Thus, we spend a pretty good amount of time trying to find legitimate means of getting other sites to link back to us. A lot of this is done by having good content, but it also requires a good amount of plain old fashioned work.
That said, finance blogging pays off in ways that are harder to measure. Blogging gives one a platform for discussing finances on a wider level. The commitment to a wider audience challenges you to go beyond what you might achieve otherwise. This commitment and intention towards creating abundance in our lives has dividends that are very hard to measure, but none-the-less affect the bottom line.
So, to wrap this up, there is some money in it, but you'll also be committing yourself to two or three hours of blogging time a day, plus a great deal of other activities designed to promote and keep yourself ahead of the competition.
Best,
James & Miel
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12 comments:
Thanks for a helpful, honest post. The graph is particularly interesting. It seems like you really flipped a switch and the earnings took off. Good inspiration!
I think there are many reasons you are succesful - and why I've been following your blog for over a year.
First, it is obvious you know your subject. You've made a variety of good financial decisions and have shared those decisions.
Second, you share the knowledge of others. In some situations you share the knowledge. In other situations, you offer commentary. This adds to your blodgs foundation and the depth of information you provide.
Third, you maintain your postings. You don't let days and time go by without postings. It is obvious you must storyboard or plan out your posts in advance. In addition, when you plan vacations or school studies, you have back-up posts ready to go. This keeps the content fresh and provides your readers something EVERYDAY. Too many blogs let days (even weeks) go by without posts. This results in lost readership.
And finally, you have a compelling story. Meil being in such an interesting place and doing what she is doing is AMAZING. The fact you are making this work within your marriage is so cool.
I think those are a few of the reasons you're blog is one of the best on PF and why I'm not surprised you are making a little added income.
My question - what do you do with your blog earnings? Do you keep it in a fund set aside for some special goal? How will you report them on your taxes?
MP (the morphine princess)
PS: On a personal note - I live in the Portland, Oregon, area. I read with interest your thoughts about returning some day.
Thanks for being willing to share the breakdown. Is most of this coming from advertisers that you have special connections with? Or do you use a certain blog ad network?
Love your blog :-)
Sara - Yes indeed a switch was flipped on. It shows that putting the effort into income generation makes a different. But, the key to keep in mind is that the quality of postings is what drives everything. Without good content you won't have the readership, nor the sponsorship.
Cheers,
Miel
Morphine Princess - Thanks for all of your great kudos. Your comment makes me reflect on all that we do to make our blog the success that it has been. It does take quite an effort, but we love doing it. Particularly in having a project to work on sustaining a marriage from half way around the globe.
I think another thing that we do is tell it how it is. We are not experts. As soon as you become experts you loose the ability to think openly and learn more deeply about a subject area.
I'd say just about anyone with an interest in finance will tell you that the learning cycle never ends. We keep it real by being straight forward about our shifts in thinking through the learning process, as well as our mistakes along the way.
While it is often said that we learn best from our own mistakes, I've always believed that the real learning curve happens if you can learn from others mistakes before you've made them yourself.
Best wishes,
Miel
Amen. Blogging is a lot of work, even if all you are doing is the writing. Once you add promoting the site, linking it other sites, affiliate marketing, and more, it can pretty much eat your life. Good way to lose weight though. Who has time to eat?
Thanks Pamela!
It is quite a bit of work, but we love it so! It certainly helps having both of us. I know that our blog wouldn't be half as strong without our combined support. Our finances wouldn't be in the same shape either!
Cheers,
Miel
Thanks Red - Thus far we have gotten our advertising from those approaching us. Given that we've only done a minor amount of outreach in this way, we can see how much more potential we have with further engagement on our parts. We'll keep you posted on our progress.
Cheers,
Miel
Excellent post. Yes, you can make money from blogging, but it is not easy. But there is many other advantages and also ways to make money from your blog indirectly.
Hum... so i guess my $4.36 i've earned in 4 months isn't TOP MONEY huh?! haha...
Looks like it's time to ramp up my marketing efforts ;)
Budgets are Sexy -
Don't worry, as you can see, we were well below minimum wage there for a very long time. Put in the effort and it pays off.
Good luck!
Miel
Great Post..I enjoy the open and honest perspective on blogging...I try and do the same at FinancePuzzle.com but realize this site is more than just making money....it is a way to keep me on track and journal my financial experiences....Keep up the good work...I will be adding you to my blogroll...
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