I started this blog out of not only financial knowledge but frustration…I mean who doesn’t have issues with money? However, no matter your situation, even if you are broke or in debt, there’s a geeky money tip for you.
I have leveraged my partnerships throughout my career to bring you these unique financial tips so that you can benefit from them.
So, what is a “Money Hack” exactly?
A unique shortcut to saving and earning money.
Did you expect a longer answer? A Money Hack is straightforward, and for those who are frugal, or are always finding ways to save and earn turn into great money hackers!
Here’s the term in a real-life situation:
“Juan had spent a lot of money on gasoline for his drive to work, his friend Ashley reminded him that since he always arrived early to work that he should start using a ride sharing app and make money! Juan thought this was a great money hack that will put even more money in his pocket and also pay for gasoline.”
A money hack can be found in many places. You may have read them already on these favorite websites:
- The Penny Hoarder
- The Balance
- Money Talks News
- The Simple Dollar
A bit about my journey to get here…
- I’ve been broke, but have worked hard to pay off debt, and then our house needed a full gut job (Yay! Back in debt!)
- I’ve been financially stable until I wrote an unbiased Glassdoor Review that got me fired, making me work extra hard to find that stability again
- I’ve worked with other Personal Finance blogs helping them with Affiliate Marketing
- I’m a Geek that loves finding the latest technology trends
- I have a beautiful Cuban wife who is an Operating Room Nurse
- I cook most of the time for my family, and the go-to meal is: Taco Tuesday
- We have two beautiful girls named Penelope and Margot (4 and 2)
So…just how do we make money?
1: Sponsored Posts
These are a great source of revenue for MoneyHax. It’s another form of advertising but through content and linking. It’s a win-win for us because not only do you get more content on your site, but you getpaidfor it as well! Important points of Sponsored Posts are:
- You’ll see them coming in after a certain Domain Authority (respect level on SEO and Google)
- You can be selective as you’ll get many paid opportunities that quite frankly…suck
- Don’t let guest posters abuseyourbusiness. Be Firm, Be Selective, Be Honest. And create terms that protect your business
There is a downside to sponsored posts: these contacts who buy posts are not guaranteed to return, leaving you vulnerable should you depend on this aspect
Also, if you have a blog and you all the sudden get requests to exchange links for money. DO IT. Don’t listen to “expert bloggers” that tell you it’s bad for SEO. Guess what, if someone is willing to pay you to post content, that is a lot easier than working an hour’s shift at McDonald’s. Oh yeah, most blogs fail anyways so take the money while you can cause your blog may fail too! (sorry) You should also install terms that protect yourself from a shit dofollow link request and communicate to the advertiser these terms (we offer 6 months as minimum).
2: Affiliate Marketing
This is one of the more difficult approaches when it comes to monetization because the only way for revenue to be produced is if someone clicks on a link, buys, or in some cases, tries a product through the content.
Sponsored posts are a much easier way to form revenue, but affiliate marketing is still one of my main focuses here.Why? Because it’s a great way to build partnerships with brands and services.
Blogs that claim most of their income through this source is likely an active advertiser orOne to Twoaffiliate products. Consider this a great piece of info should you start a blog. Focus on your strong suits, focus on the specific brands you can maximize revenue and create great content.
I’ve recently placed Media.net ads within the site and it’s definitely the most passive way to earn money. You enter the code into the WordPress site (we used the PluginAdvanced Ads) and it’ll place ads wherever you see fit. I didn’t want to bombard readers with ads, but it’s an extra way to earn money so it makes the most sense as a business. Still, we hope to find alternatives here as the payouts adreadfully low.
If you have operated a small business before, you already know howvital expensesare. It’s not a bad thing for spending money, including money ON your business. By doing so, you’ll decrease your tax burden by utilizing write-offs. Often misunderstood, Write-Offs are mostly ways to reduce revenue so that you won’t be taxed on it.
For example: Taking into account how Hosting Costs Approximately $100 Per Year and we’ve produced $5000 in income, you can tell the IRS by providing your receipt that you’ve made $4900, thus reducing your tax burden
We can expand on this further, but I can say approximately 20% of whatever MoneyHax makes will be put back into the website for not only growth but tax purposes.
Goals for MoneyHax
My personal goal for MoneyHax is to provide enough income that it can not only support our family, but go beyond that and support various investments, potential housing (buy our first home), and maybe even traveling. We’re not there yet, but I remain optimistic.
If I continue to follow the trends of other like-minded sites and continue to grind success shall follow!