Make Money by Blogging

The month of February I'll be offering a money-making tip every weekday. Here's the one for today:

Make money by blogging.

I've talked about this idea a bit before, but I wanted to add some specifics today.

For those of you who don't know, top bloggers can make a good deal of money. And even if you're not a top blogger, you can make a decent income according to Steve Pavlina:

At the very least, a high five-figure annual income is certainly an attainable goal for an individual working full-time from home.  I’m making a healthy income from StevePavlina.com, and the site is only 19 months old… barely a toddler.  If you have a day job, it will take longer to generate a livable income, but it can still be done part-time if you’re willing to devote a lot of your spare time to it.

There are, in fact, a whole lot of ways to make money from blogging. But the big question is "How do I do it?" I've got an old series of how I did it and while it was written quite a long time ago, it's still valid. Check it out for some good insights.

Here's what I'd suggest today if you want to make some side income through blogging:

1. Pick a topic you like, can write about forever, and that people are interested in. Oh yeah, it helps if you're knowledgeable about it as well. ;-)

2. Try various ways of making money (some ideas detailed in the link above -- more suggestions here too.)

3. Keep at it for quite some time (at least a couple of years.)

You probably won't get rich doing this, but I think you can earn a nice ($10k+ per year) extra income if you do all of these steps well.

Comments

The money got from blogging, is it tax-able?

[FMF]

Yes, like almost all income (maybe all?), it's taxable.

[Miranda Marquit]

Most of my family's income comes from the 20 hours a week I spend doing professional blogging -- mostly on behalf of companies. There are definite opportunities in blogging.

[Matt]

I read the posts (all 22 or so) and the question still is, where does the money come from? I am interested, but not well versed in these things....is it based on the traffic itself, or who your readers might click through too, i.e. I see Visa here, ING Direct, etc.
Good of you to explain it all though....like my Grandfather always used to say, everyone has a story to tell.

[The Digerati Life]

I'd love to give my .02 on this matter. :) Matt asks where the money comes from and in fact, it comes from many sources. In fact, it's best to be as diversified as possible. Most sources of income are through ads. Some are from affiliate relationships, others are from writing gigs, as Miranda mentions. It's a little bit here and a little bit there, but they all add up.

To make an income significant enough to make a dent, you'll need decent traffic. You don't have to be a big blog, just a well-positioned one in a good niche that can attract a moderate amount of traffic. If anyone wants to get into blogging, I'd suggest going into a niche that you know well -- to increase your chances of longevity in the "field" and so that you have credibility. It's important to love what you do, I think.

[cherryblossom]

Its really cool that your posting this info.

[Miss M @ M is for Money]

It should be noted that you'll be making practically nothing for a while and writing a good blog takes time and effort. It's not easy money. I only consider my blog profitable because it's making me a better steward of my money.

[The Gooroo]

Nice post...not going to sugar coat it for people though. Yes, you can make money from blogging. No, it is not easy. Many people start blogging thinking they will see hundreds of dollars a day within weeks. Not the case. I tried blogging and made a measly $100 within my first year! Horrible, I know. Then again, I did not stick with it all the way through. It takes dedication and time, and if you have these two, the opportunity is endless.

Once again, nice post!

[Norma]

Hey FMF - considering all the 2 cents advice you get from readers like me you ought a be rolling in the dough.

[Chiko777]

Great post, I will be studying some of the tips here to apply to my blogging experience.

[FMF]

Matt --

I'd recommend the Problogger book mentioned in this post if you want more details:

http://www.freemoneyfinance.com/2008/05/make-money-blog.html

[David]

I'm hoping to eventually make some money blogging, but I still feel like it's helping me even if I never make a dime.

Like Miss M commented above, it's making me a better stewart with my money. I've learned a lot, and it's jump started my desire to improve my finances.

I'm also hoping that in the long term, I could use the tax advantages of owning a business to signicantly reduce my tax bills.

[Matt]

Thanks for the tips!

[Enrique S]

Coincidentally, I took your advice and finally started my blog. I hope that I can be a fraction as successful as you. Thanks for the nudge in the right direction.

[thomas]

Just like retirement, it takes time and focus to reap the rewards. If you open up a blogspot account and post once a week thinking you are going to tell your boss to shove it, think again.

Blogging should be first looked at as a hobby, secondly as a source of income.

[Andy]

Looking forward to this sereies. I did a post a while back looking at how much some pf bloggers (of all sizes) can make and found that to make a decent income you needed about 3000 visitors a day to make a decent side income (abobut $100 p/day). I started my blog about 12 months ago earning about $10 a month and am now up a $1000+, so with some hard work, time and motivation it definetly can be done. Offcourse sites like yours are always a great inspiration for ideas.