MoneyHax is a more than a personal blog, it’s a business. So I started this blog business shortly after realizing that working from 9-6 (not 9-5) was not for me. In fact, I started it right after I got laid off of a job I was really good at. What did I do? I worked as an Affiliate Marketer!
Once I was laid off, two weeks before my second daughter was born I knew I had to generate enough income to satisfy my family’s expenses, while also having the potential to go beyond that. This is the American Dream, is it not? I started work on the site in early 2017, so there was zero income, only expenses including domain, hosting, and necessary maintenance like a theme (which has changed several times).
Note: If you are interested in starting a blog of your own, DO IT!!! There’s are several blog tutorials right here on MoneyHax including how to start a blog of your own starting at $2.75 per month for blog hosting. We recommend DreamHost since you get a domain (a $10+ value) included through our DreamHost link if you purchase 12 months of hosting. Making money blogging takes time and energy, but hosting is the first step! By utilizing your own domain, you bypass free opportunities like Blogger and Blogspot, but will absolutely increase your overall chance of success!!
How 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 get paid for 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)
- BE SELECTIVE – You’ll get many unrelatable paid opportunities that quite frankly…suck
- Don’t let guest posters abuse your business. Be Firm, Be Selective, Be Honest
Downside? These contacts who buy posts are not guaranteed to return, leaving you vulnerable should you depend on this aspect
2: Affiliate Marketing
Although a strong suit of mine, this aspect is still very early in development. 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 or One to Two affiliate 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.
3: AdSense (or Banner Ads)
I’ve recently placed AdSense 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 Plugin Advanced Ads) and it’ll place AdSense (Google) 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 a dreadfully low.
If you have operated a small business before, you already know how vital expenses are. It’s not a bad thing 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 likeminded sites and continue to grind success shall follow!