Are you knowledgeable about personal finance? Do you know how to make your money work harder for you? Have you mastered the secret of long-term wealth?
Starting a personal finance blog in 2022 it’s an excellent way to share your knowledge, help people achieve their financial goals, and monetize your skills.
But is there even a market for it? Yes – and it’s only growing!
Today, over 77% of Americans are worried about money, and nearly 80% of US households make it a recurring New Year’s resolution to better their finances.
Here’s how to get started.
Step 1: Know Your Reasons For Starting a Blog
Just like in the case of any other business, setting clear and achievable goals is key to success. So, before you invest time and resources in starting a personal finance blog, it’s crucial to know your why!
According to recent estimates, personal finance is the second highest-earning blogging niche, reeling in over $9100 and second only to food blogs. But while monetization and building a second income stream are common motivations for bloggers, they are not the only ones.
Some other valid reasons for blogging about personal finance include:
- Creating a space for expressing yourself
- Helping others build better money habits
- Sharing your knowledge and skills
- Becoming part of the blogging community
- Learning new skills
Adding a blog to your business’s site is also a great way to drive traffic to your website and build credibility.
Step 2: Pick Your Niche Wisely and Learn About Your Audience
The personal finance field is broad and complex and, at first, you might struggle to establish your blog as a comprehensive resource on all topics.
Consider starting small and specializing in a specific niche, such as household budgeting strategies or tips to live debt-free.
Once you have chosen your niche, build a customer persona to better understand your audience.
Knowing what your readers are looking for it’s key to answering their questions and keeping them coming back.
Step 3: Choose and Secure Your Domain Name
Picking your domain name is arguably one of the most challenging – and impactful! – choices you’ll have to make during your career as a personal finance blogger.
Let’s start by covering the basic rules to follow:
- Try to stick to the .com top-level suffix if you can
- Encapsulate a high-volume keyword in your domain name
- Choose a domain name that is short, easy to spell, and straightforward to pronounce
- Think of your domain name as part of your branding strategy
- Avoid hyphens and complex characters
Once you have a domain name that ticks all of these boxes, it’s time to think about what impact it can have on your brand. Ideally, you’ll want a name that offers you room to expand and tap into new niches.
For example, if your domain is “budgetingforteenagers.com” and you wish to expand into other areas of personal finance like loan repayments, you might struggle to scale up your business under the same name.
Step 4: Find a Web Hosting Platform That Fits Your Needs and Skills
Today, there are plenty of web hosting platforms and content management systems to choose from. Undoubtedly, the most famous ones include WordPress, BlueHost, and Hostgator.
However, with so many options, you won’t struggle to find the best system for your goals and skill levels.
For example, using Wix and Squarespace are great ways to build a fast and visually-appealing blog that allow you to focus on creating high-quality content – which takes us to the next step!
Step 5: Learn What Your Audience is Interested In and Start Creating Content
If you don’t have much experience as a content creator, it can be hard to find the best way to put your knowledge of personal finance on paper and deliver it in a way that is easy to digest, engaging, and effective.
A great way to learn more about the type of content your users wish to see is to head over to competitors’ websites and find out what interests your audience and what content type users interact with most.
Once you have a clearer picture of how to attract users to your personal finance blog, consider learning more about the basics of content creation.
If this really isn’t your forte, outsourcing an experienced content creator or marketing expert can help.
Step 6: Monetize Your Personal Finance Blog
When it comes down to monetizing your blog, there are many strategies you could use.
Here are some of the most efficient ones:
- Try CPA or Affiliate Marketing – affiliate marketing and cost-per-acquisition (CPA) strategies allow you to recommend high-quality products to your readers while earning a commission. For example, you could guide your audience in the process of finding a credit card by referring to and comparing reputable providers.
- Sell Digital or Physical Products – creating and selling products like ebooks, guides, workbooks, gated content, and online courses are excellent ways to monetize your skills while leveraging the audience you have built through your blog.
- Run Ads – ads are a great place to start when monetizing your blog. They allow you to earn between $0.01 to $1.50 per click (on average) and there are limited marketing skills involved with placing ads on your site. However, with this strategy, your income will likely relate to the number of visitors to your blog, and too many ads can affect your site’s readability.
According to estimates by Indeed bloggers make an average of $37,000 a year. However, this largely depends on the blogger’s experience, content quality, resources available, and, more importantly, consistency!
At first, you should focus on generating traffic and building an audience. Once you have at least 100 visitors per day, you might consider monetizing your blog. But remember, this isn’t a “get-rich-quick” scheme – and it can take years before you are able to replace your current income!
Step 7: Grow Your Personal Finance Blog – and Your Skills!
The success of your blog largely depends on your own knowledge of personal finance and your ability to keep up with the changing market trends.
So, if you are looking to build a blog that matters and will continue inspiring people for years to come, you should start by investing in yourself.
Consider learning more about personal finance, building connections with other bloggers in the industry, and investing in training courses to become a better blogger and content creator.
Keep in mind that blogging is a long-term game – but it can yield endless satisfaction and pay off all the work you are putting in today!
About the Author
Cristina Par is a content specialist with a passion for writing articles that bridge the gap between brands and their audiences. She believes that high-quality content plus the right link-building strategies can turn the tables for businesses small and large.