Last Updated on February 26, 2020 by Fabrizio Van Marciano
How much money have you invested in your blog over the last 12 months? Fifty bucks on a new theme? A few hundred dollars, perhaps? More? In this post, we'll talk about spending money on your blog. Moreover, how to do it right.
Time is the most valuable currency you can use to help you grow your blog. The time you invest in creating quality content and growing your readership. And the time you invest in marketing and promoting your content.
That said, time is not the only currency you should depend on. Yes, it is the most important currency to use, but it certainly should not be the only one.
Dare I say it? What am I talking about here exactly?
I'm talking about money:
Money is also required to help you grow your blog and achieve success. Like you didn't know that already.
Right then, let's not beat about the bush here. I get it, you don't want to spend much money, especially when you're starting out and trying to actually grow your blog so that it can make money.
I used to be really scared of spending money on my blog and online businesses. Even up until recently, I was very reluctant to spend any money on new tools, services, marketing, books, and all the rest of it.
I was all about trying to make it on my own and for free.
I'm not saying that 'not spending any money or going at it alone' can't work, but the progress you make can be very slow.
And don't get me wrong, there are tons of free stuff on the web you can get your hands on these days. Free tools, themes, plugins, apps.
And when it comes to content such as articles, tutorials, and guides, well, there's Google and YouTube for that. Again, most of it is free.
It's clear and simple, sometimes, you've got to spend a little money to grow. You don't need to go crazy and buy everything you see. The trick is knowing when and where to spend money on your blog.
In this modern age, we are inundated with all the latest tech stuff. There are software, apps, and thousands of gadgets to choose from. Sometimes it can all be quite overwhelming. I mean where do you start even?
Would you like to know how much I spend each month to run Magnet4Blogging?
Around $130 per month. That's for hosting and domain name, a bunch of yearly premium plugin subscriptions, premium security, and social media scheduling tools. So, $1,560 per year, minimum.
However, over the last ten years, I've spent thousands of dollars on additional stuff. Most of which I can't physically feel. I'm talking about software, more themes, and plugins, apps, services. These are things that I will never be able to hold in my hands, yet cost a small fortune.
Some of the stuff I've purchased have been great, but a lot has been a complete waste of time and money. Which is why I think I'm qualified enough to write this post.
So, on that note, below are some quick tips on when and where to spend your money wisely when it comes to your blog. I've also outlined some things to avoid and things you should consider.
Disclaimer: I'm not a financial advisor. Take my advice with a pinch of salt as I'm only sharing my two cents worth based on my own experience as a blogger and entrepreneur. Pardon the pun.
Let's get started.
Let's get this one out of the way.
Sure, there aren't as many scammy money-making schemes as there were around six or seven years ago. Or maybe I've not seen any as of late. But I know they're still around.
If you can, try not to fall for any type of money-making business scheme that asks you for money upfront. Especially large amounts of money.
Of course, things like reputable online courses, books, or premium content are fine. And as long as they are from a trusted source.
I'm referring to the pyramid, money-making, investment schemes or often branded 'Get Rich Quick' scams from people you've never even heard of before. You sometimes see them on social media and those YouTube ads.
I mean, they're funny to watch sometimes, right? You see some dude standing in front of a Lambo, rambling on about how he makes 400K a month selling novelty balloons on his website. Now he wants to show you how to do the same, but first, you gotta hand over $1,000 bucks!
Look, if something appears too good to be true, then it probably is. The old cliche stands firm, That's all I'll say.
When you're starting out, you don't need to break the bank and sign up for every premium tool or service membership you lay your eyes on.
It can be tough sometimes. I know what it's like to come across a tool or service that you think you really need. But then you think can you really justify paying $700 or $1,000 a year for.
If you are starting on your blogging journey, web hosting, a premium theme, and some premium plugins are all you need. At least for the first six months or so.
OK, before you put me in front of the firing line and shoot me, hear me out first about online advertising.
I'm not saying that all advertising is bad or a waste of money for your blog because it really isn't.
Sure, you can invest in some targeted ads on Facebook, Twitter, or Instagram to promote your latest blog post, as long as you've done your homework first to get the best possible result. And, as long as you are not blasting your entire marketing budget.
If you really need to use ads, start small.
Now and again, it doesn't hurt to loosen up the old purse strings and invest in a new premium theme or some additional plugins for your blog. However, spend your hard earn cash wisely.
Or, if you need a new blog design, a logo, or some custom icons to help your blog stand out in the crowd, this would be spending smartly too.
As I mentioned at the start, there are many things online that's available for free too. Things like stock images, background videos, some social icons, and vector graphics, etc.
Recommended Post: 50 Pro Blogging Tools For Bloggers (2020 Edition)
When it comes to spending to increase productivity, I'm all for it. But, I would recommend you pick the right tools that you actually need. The tools that will actually help you grow your blog because some productivity tools are very expensive.
For example, perhaps buy a new blog planner workbook. Or signup to CoSchedule for a few months to help you reach your blogging goals. Or, invest in a few apps that will help you write faster, or organize and manage your blog posts better, etc.
Check out this post I wrote, it contains over 50 pro productivity tools to help you grow your blog.
This applies to any hardware as well, such as spending money on a new laptop, or upgrading your home office kit, etc.
Investing your time and money in some marketing tools is not bad. Just as long as you're not spending money on something that is going to be completely useless for the level you're at with your blog.
Out of all the marketing suite of tools out there that I've used, the one I would 100% recommend for any blogger is the Thrive Theme Membership.
Thrive Theme Membership provides a suite of conversion and growth tools that are perfect for bloggers and small businesses.
Your goal will be to grow a large email list or create landing pages for your latest products and offers. Or you may want to create an online course, or even design your entire blog from scratch. Everything you need to grow your blog is available as a Thrive Themes member.
I've been a member myself since 2015. You can check out my full review of the Thrive Themes Membership here.
That's been my new motto lately. Because sometimes I think back to when and where I started with my blog, and where I am now, and where I want to be in the future.
I didn't even own my own laptop when I first started blogging. I would usually borrow my girlfriend's.
Fast forward to ten years later, I now have my own home office space, kitted out to the ceiling with all the tech and software I need to run my online business ventures.
I don't say all of this to brag, OK.
If you've followed my journey for some time, you'll know that I never brag about anything here. But, as I said, sometimes I like to think back to my humble beginnings, just so that I can put things into perspective.
So, start small, but think big.