Making the Most of Personal Finances as a Professional Blogger

By Blogtrepreneur

Being a professional blogger has its advantages and disadvantages. On the Pros side, we’ve got Freedom of schedule, working for yourself, endless opportunities to expand into new online territory, few necessary business expenses. On the Cons side, it’s challenging to make a lot of money in your first years of blogging, it’s hard to have consistent income sources that last, and there is always someone out there threatening to take over your audience. Considering all of the financial challenges inherent in blogging, it’s important for the professional blogger to be a master of personal finance. If you know how to make the most of your money, the ups and downs of blogging won’t make a difference to your life, savings, and investment.

Most people who have trouble with money, regardless of profession, do so because they don’t keep an adequate handle on their finances. Money slips away unnoticed. One look at shows how everyday financial fraud can steal thousands from unsuspecting bank accounts, before the owners even notice. Other people can’t keep track of their own spending, only learning the extent of their splurging after a bounced check or denied debit card payment.

The best way to settle these problems is to budget. Everybody knows that a budget is important, but few of us actually practice it. Not everyone is able to work up the energy required to manage a careful spreadsheet, taking stock of every expenditure. We’ll never deny that having a spreadsheet or similar tool is a great resource for people who are wired that way, there are other ways to get the same benefit of rigorous budgeting, without all of the bookwork.

One of the best habits of people who are in charge of their finances is to pay their bills and their savings before making any other expenditures. It’s incredible what a difference this makes. As soon as you get paid, pay your electric bills, your internet, your credit card, your water bill, your rent or mortgage, and your savings. Pay yourself first. Once these are covered, it doesn’t matter nearly as much how you use the rest of your money. Your basics are covered.

If you have debt, it’s important that you be vigilant in getting rid of it. Until it is gone, your savings goals aren’t going to be as meaningful or powerful. Start by committing a specific amount of money each week to the killing of your debt. It can help to give yourself some tangible rewards and reminders, like a calendar on the wall complete with a sticker for every time you meet your goal.

Finally, make a habit of living well beneath your means. Even if your income starts out small and inconsistent, if you can learn to make it work, you will have great living skills that will enable you to save a lot of money when you start making more money from blogging. All of these habits work for internet professionals of all varieties. Make them work for you and you’ll be glad you did.

The post Making the Most of Personal Finances as a Professional Blogger appeared first on Blogtrepreneur – For Busy Entrepreneurs.


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