How Profitable Is A Finance Blog? (Updated for 2024)
So you want to start a finance blog?
And the first question that came to your mind was, “well, are finance blogs actually profitable?”
Especially considering:
- You could start a finance blog with as low as $4
- Based on our data, finance blogs generate an average of $1.95M per year
- You could see gross margins as high as 90% with 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 finance blog.
Let’s dive in!
Is a finance blog profitable?
Yes, a 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 $1.95M per year with an estimated gross margin of 80%, you could expect to recover your investment within 5 months or even less.
But of course, it all comes down to how much you earn compared to the potential revenues of your 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 finance blog is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.
Is a finance blog worth it?
If you’re wondering if a finance blog is worth it, the answer is a big YES. With finance blogs, you have the potential to earn $1.95M 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 $, 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 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 finance blogs case studies.
Examples Of Profitable Finance Blogs
Here are a few examples of profitable finance blogs, and a few more details about them:
1. DollarSprout ($2.4M/year)
Jeff Proctor, co-founder of personal finance blog DollarSprout.com, came up with the idea after realizing he didn't enjoy working for someone else. Initially planning to create a subscription-based investing website, Proctor and his partner eventually pivoted to focus on affiliate marketing. Now, four years later, DollarSprout is on track to generate over $2 million in revenue for 2019.
Is it profitable? Yes
What's the gross margin? 90%
How much money it makes: $2.4M/year
DollarSprout.com, a personal finance blog geared towards millennials, went from zero to over $2 million in revenue in four years through a laser focus on affiliate marketing, constantly creating useful, keyword-oriented content that helps readers solve a problem, SEO, and diversifying income verticals.
2. FITnancials ($90K/year)
Financials initially started as a fitness blog when Alexis had lost 60 pounds while in college and people came to her for advice. With time however, it blossomed into something Alexis was passionate about, which was helping women manage, save, and earn more money.
Is it profitable? Yes
How much money it makes: $90K/year
How much did it cost to start: $100
Learn how one woman turned her personal finance blog into a $7.5k per month business through affiliate marketing, ad revenue, and sponsored partnerships, and discover the tools and resources she used to grow her business and achieve work-life balance.
3. Millennial Money Man ($1.8M/year)
After paying off his own debt and becoming passionate about personal finance, Bobby Hoyt started his blog, Millennial Money Man, to teach millennials how to make more money, save more money, and pay off debt.
After realizing the success of his own Facebook ads for local businesses, Hoyt partnered with Mike Yanda to create the Facebook Side Hustle Course, which teaches others how to run ads for local businesses.
The course had a six-figure launch, leading Hoyt and Yanda to start Laptop Empires, where they help people start and grow online businesses.
Is it profitable? Yes
How much money it makes: $1.8M/year
How much did it cost to start: $5K
Millennial Money Man founder Bobby Hoyt and partner Mike Yanda created Laptop Empires, which boasts a seven-figure revenue through their flagship Facebook Side Hustle Course, helping retirees and millennials launch and grow their local Facebook ad agencies.
Learn more about starting a finance blog:
Where to start?
-> How much does it cost to start a finance blog?
-> Pros and cons of a finance blog
Need inspiration?
-> Other finance blog success stories
-> Marketing ideas for a finance blog
-> Finance blog slogans
-> Finance blog names
Other resources
-> Finance blog tips
-> Blog post ideas for a finance blog
How much can you make with a finance blog?
With a finance blog, you can make an average of $1.95M revenue per year (based on data reported by real businesses).
You can start with an initial investment as low as $4. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 5 months.
How much does a finance blog make a week?
Based on our data, average weekly revenue for a finance blog ranges around $40.5K. As such, you could see monthly revenues of $162K.
To know if your 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 finance blog.
How much do finance blogs owners make?
The income of a 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 finance blog is about $40.5K. 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 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.
Finance Blog Profit Margins
Generally speaking, a finance blog can expect profit margin of around 80%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a 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, 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, finance blog owners can ensure long-term sustainability and profitability for their business.
Finance blog owner salary
The salary of a 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 finance blog, in a prime position, might see an average weekly salary around the ballpark of $32.4K.
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 finance blog may be a promising business to start - but the success of your 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 finance blog.
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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.
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