How Profitable Is A Personal Finance Blog? (Updated for 2024)
So you want to start a personal finance blog?
And the first question that came to your mind was, “well, are personal finance blogs actually profitable?”
With a market size of $400B - there’s plenty of business to go around.
Especially considering:
- You could start a personal finance blog with as low as $10
- Based on our data, personal finance blogs generate an average of $2.63M per year
- You could see gross margins as high as 90% with personal finance blogs
There’s money to be made. Don’t worry.
But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a personal finance blog.
Let’s dive in!
Is a personal finance blog profitable?
Yes, a personal finance blog is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.
For instance, since average revenue is $2.63M per year with an estimated gross margin of 65%, you could expect to recover your investment within 7 months or even less.
But of course, it all comes down to how much you earn compared to the potential revenues of your personal finance blog.
To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.
Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your personal finance blog is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.
Is a personal finance blog worth it?
If you’re wondering if a personal finance blog is worth it, the answer is a big YES. With personal finance blogs, you have the potential to earn $2.63M per year (this is based on data reported by real founders).
Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.
With a market size of $400B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.
Of course, you must learn and understand every aspect of running a personal finance blog to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.
You might want to consider reading more specifics about successful personal finance blogs case studies.
Examples Of Profitable Personal Finance Blogs
Here are a few examples of profitable personal finance blogs, and a few more details about them:
1. The Ways To Wealth ($468K/year)
R.J. Weiss started his blog, The Ways To Wealth, with a small niche idea of posting investing reading lists. However, after reading income reports from other financial bloggers and realizing the potential in affiliate marketing, he dedicated eight months to doubling down on the site and making it a success. Through a combination of organic search, paid ads, and viral Pinterest traffic, the blog now earns over $30,000 in monthly revenue.
Is it profitable? Yes
How much money it makes: $468K/year
How much did it cost to start: $100
This case study outlines how R.J. Weiss created The Ways To Wealth blog, earning over $30,000 in monthly revenue from a mix of affiliate and advertising revenue with a team producing 15-20 hours of work per article to teach hundreds of thousands of visitors each month how to save and make more money.
2. Financial Samurai ($360K/year)
Sam started a personal finance website during the 2009 economic crisis. An advertiser offered him $1,000 to advertise on his blog, which he saw as an opportunity to focus on his financial advisory blog.
Is it profitable? Yes
How much money it makes: $360K/year
Financial Samurai founder, Sam Dogen, shares how he turned his cathartic writing hobby into a personal finance site that generates over $10K a month in passive advertising revenue and has over 1 million organic visitors a month, as well as his tips on starting and growing a business, and diversifying clientele.
3. Money Geek ($120K/year)
Michael, a former personal finance professional, started Money Geek after a marketing company convinced him to blog for client recruitment. Dissatisfied with their content, he took over and saw the blog skyrocket to 250k monthly page views within nine months, ultimately generating over $10k a month.
Is it profitable? Yes
How much money it makes: $120K/year
How much did it cost to start: $2.5K
Your Money Geek blog grew rapidly to over 250k monthly page views in nine months, leading to the creation of a white-glove, paid mastermind program to help site owners drive traffic and revenue for their own blogs.
Learn more about starting a personal finance blog:
Where to start?
-> How much does it cost to start a personal finance blog?
-> Pros and cons of a personal finance blog
Need inspiration?
-> Other personal finance blog success stories
-> Marketing ideas for a personal finance blog
-> Personal finance blog slogans
Other resources
How much can you make with a personal finance blog?
With a personal finance blog, you can make an average of $2.63M revenue per year (based on data reported by real businesses).
You can start with an initial investment as low as $10. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.
How much does a personal finance blog make a week?
Based on our data, average weekly revenue for a personal finance blog ranges around $54.8K. As such, you could see monthly revenues of $219K.
To know if your personal finance blog achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.
Learning your weekly profit can also show whether you're hitting your target goal for your personal finance blog.
How much do personal finance blogs owners make?
The income of a personal finance blog owner can vary depending on various factors such as location, size, competition, and the owner's business skills.
But to give you some idea, the weekly revenue of an established personal finance blog is about $54.8K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.
While the potential for earning a good income as a personal finance blog owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.
Personal Finance Blog Profit Margins
Generally speaking, a personal finance blog can expect profit margin of around 65%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a personal finance blog, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.
However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, personal finance blog owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, personal finance blog owners can ensure long-term sustainability and profitability for their business.
Personal finance blog owner salary
The salary of a personal finance blog owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established personal finance blog, in a prime position, might see an average weekly salary around the ballpark of $35.6K.
But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.
Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.
Conclusion
In a nutshell, based on many of our examples, a personal finance blog may be a promising business to start - but the success of your personal finance blog mostly depends on your effort and your approach.
If you focus on these, you'll have a much higher chance of a profitable personal finance blog.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
