Are you in debt? Well, you’re not alone. Americans have racked up $1.4 trillion in debt with nearly 11% in default, according to the Federal Reserve Bank of New York. In fact, 81.5% of millennials owe more in student loans and mortgage than any other generation. This is why millennials would make the best bloggers, not to mention, the ideal market.
Millennials are often referred to as the connected era – growing up as the generation that grew up on their devices and the internet. They prefer alternative styles of employment and are enamored with the idea of financial freedom and entrepreneurship. As a result, this digital age is looking for multiple streams of income, making blogs a popular one. But the question that many are wondering – can you improve your finances by blogging? Here’s how using your writing skills will improve your finances.
How much can you earn blogging?
If you search for “make money blogging” on Google, one of the relevant results suggested is “can you make money blogging?” The fact is most bloggers make nothing. The moment you decide to use your blog as a means to improve your finances, you’re no longer just a blogger. Instead, you will also become an entrepreneur online.
Using the digital platform is compared to providing seminars for free. You’re giving away your knowledge and expertise in the hopes of gaining new customers – the audience – and building their trust. Thus, if your goal is to make money with your blog, using a lead generation mechanism is the key to building a profit.
Taking account for life goals
Everyone has some sort of financial goal – whether it is to get out of debt, manage your daily finances, build up savings, or simply boost financial freedom. In fact, 63% of American bloggers are launching their sites as a mean to share knowledge to help fund their education, according to the Pacific Institute. While starting your own site won’t turn you into a millionaire, you can start a blog on any topic of interest and still use it to work towards your financial goals.
For example, a corporate executive who enjoys crafts, cooking, or even parenting can share their knowledge and post about what’s going on in their life. That’s the beauty of blogging. It gives you a platform to document your success, failures, goals, and hope to achieve. You can use it as an online dairy to post updates, share tips and advice, and discuss how you’re getting on.
Setting up your blog
The first step to building your blog is to choose your niche. What are your interests? What is your professional background? Every blog requires authoritative backgrounds to gain value. After all, would you follow a fashion blogger with a culinary background? While one may carry a ton of interests, it is important to show authority and keep the blog as focused as possible.
When you have chosen a niche, work on getting a domain name. Then, check it through a domain checker to see if they are available.
Monetizing your blog the right way
Unlike most money-making ventures, starting your own blog will cost next to nothing. In fact, it literally costs less than $20 per month to set up with a web host, including your domain name and link. The first step is to choose a website hosting provider that will allow you to install WordPress to design your blog and publish posts. You can start with the basic hosting and upgrade your package once you’ve gotten the hang of it.
Keep in mind, making money from blogging won’t happen overnight. However, it can happen quickly. Your content will draw the majority of traffic through two channels including Social and Search.
Build lots of traffic
If you want to make a profit, you need to publish attract content that draws attention. So, how can you do that? Social traffic will discover your content through social media, while search traffic will be found through search engines. That means you will need to:
- Research Content – learn what kind of posts are typically shared on social media. You can do this by scanning through bogs within the same niche as yours. While you shouldn’t copy their information, you can use them for inspiration to create your own.
- Research Keywords – learn what type of keywords your audience uses when using search engines. Use quality keyword tools like Ahrefs, SemRush, and Google Keyword Tool planning. Be sure to choose data with plenty of search volume but low in competition.
Finding the link between blogging, debt, and stress relief
70% of students who graduated in 2013 have an average of $35,000 in debt. in fact, those with higher debt were also found to have a 1.3% higher risk of diastolic blood pressure. But how does blogging help aid in stress relief? Blogging can serve as a coping mechanism for the therapeutic benefits of expressive writing. In addition, it helps others realize that they are not alone in such situations.
Building a blog can help improve your financial situation as it shifts focus away from expensive activities, such as mindless shopping, eating out, or going out for drinks. Starting a blog can help reduce the unnecessary spending and force you to invest in your blog instead. Not to mention, you will meet and connect with like-minded people. They will help you build motivation and inspire you to keep going.
Changing your finances one post at a time
Starting your own blog can turn your life around and improve your finances for the better. Not to mention, your blog can provide you with the inspiration to make vital changes in your life. It can also act as an online portfolio to show off your skills, even if they aren’t blog related. After all, the most rewarding way of having a blog can improve your finances is to develop a steam of income.