, so I turned it into an LLC, have a business bank account, and learning Quickbooks to manage the income and expenses.\u00a0<\/span><\/p>\nBut I also started blogging because I\u2019m passionate about personal finances and wanted to hopefully be more relatable to others. <\/span><\/p>\nI\u2019m not a six figure earner, haven\u2019t made millions of dollars, but I have made some huge strides without being handed anything. I saw the financial media likes to focus on those big headlines. And while they can be inspirational, they aren\u2019t the norm and isn\u2019t very relatable to 99% of people (just look at the comments).\u00a0<\/span><\/p>\nIn 2017, I wrote some guest posts about my story on other finance websites. But, I also wanted to create another blog and treat it as a business. This is where Invested Wallet was born. Not only is my blog something that I can make money from my passion, but I can hopefully help others make a difference in their finances and improve their overall well-being.<\/span><\/p>\nResults<\/strong><\/h2>\nAll my side hustles have made money in someway. The music blog probably made the least, but I never treated it like a business or really optimized it to make money.\u00a0<\/span><\/p>\nHowever, Invested Wallet\u2019s main goal is to generate income. I recently crossed the 1 year mark this past June and in early 2019 the blog has started to make money every single month.<\/span><\/p>\nSo far this year I\u2019m closing in on $4,000 in profit, however 2019 was the first year I started to put a minor effort in to generate income. Currently, the blog makes $300-$400 minimum per month just through having ads up!<\/span><\/p>\nAdd that income to any affiliate income and sponsored content, and it starts to accumulate quite significantly. In fact, I\u2019ve had two months in the $1,000+ month revenue range, and I\u2019m pumped about this for a few reasons:<\/span><\/p>\n\n- My blog is just over a year old.<\/span><\/li>\n
- I only spend a few hours each week on it.<\/span><\/li>\n
- It\u2019s making passive recurring income every month through ads.<\/span><\/li>\n
- My traffic is growing. I don't have the highest traffic amount per month, but the blog is still making good money.<\/span><\/li>\n
- I've already had two companies interested in purchasing the site (I\u2019m not ready to sell, but always entertain the idea).<\/span><\/li>\n<\/ul>\n
I have three goals for Invested Wallet:<\/span><\/p>\n\n- Generate enough income to cover all my monthly expenses (Would need to make around $1600 per month).<\/span><\/li>\n
- Become a future full-time gig (Would want this to generate $45,000+ per year before consideration of this).<\/span><\/li>\n
- Sell the blog for six-figures.<\/span><\/li>\n<\/ol>\n
Wins & Losses<\/b><\/h2>\n
I\u2019ve actually had some pretty awesome wins for Invested Wallet, which makes me excited for the future. I think some of my big wins are:<\/span><\/p>\n\n- Featured or quoted in many major media publications like Time, CNBC, Market Watch, Business Insider, Forbes, Yahoo Finance, and others.\u00a0<\/span><\/li>\n
- Two months recently where I made over $1,000 in revenue.\u00a0<\/span><\/li>\n
- Huge spike in SEO traffic, something I\u2019ve worked on with the blog since day one.<\/span><\/li>\n<\/ul>\n
![\"invested-wallet-blog\"](\"https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/invested-wallet-blog.png\")
Truly an impressive list of features, congrats Todd!<\/figcaption><\/figure>\nAs far as losses, I don\u2019t have any major ones so far (*knocks on wood). There are always things I could have potentially done differently that may have resulted in better outcomes, but I'm happy with my progress in a short time.<\/span><\/p>\nWhat Advice Do You Have For Other Entrepreneurs?<\/b><\/h2>\n
Find something you're passionate about and find a way to turn that into some extra income. Almost any hobby or passion can become profitable, you just need to figure out how to effectively monetize it.<\/span><\/p>\nThe digital age has created so many more money making possibilities, you just need to get started!<\/span><\/p>\nDon\u2019t worry if you do not know everything right away, most people don\u2019t. Taking the first steps and just getting started is already doing more than most people ever will.\u00a0<\/span><\/p>\nI was pretty unsure when I got started blogging, but it has led to so many more opportunities for me that I would have missed had I just not tried. <\/span><\/p>\nWill every side hustle work out? No. Will you get rich immediately from it? Probably not. But if you keep at it, work hard, and stay patient, there is a good chance you\u2019ll find success!<\/span><\/p>\nFinal Thoughts<\/strong><\/h2>\nI think one of the most common questions I see related to blogging as a side hustle is: “can you even make money with a blog?”<\/p>\n
As Todd has shown, it is absolutely possible to create a blog that makes money within a year, even in a competitive niche like personal finance. Sometimes, the secret sauce is really just the right mixture of hard work, know-how, and perseverance.<\/p>\n
Besides, as Todd also mentions, taking a stab at an entrepreneurial venture is one of the most effective ways to improve your resume, learn new skills, and to develop as a person.<\/p>\n
You will rarely be handed opportunities on a silver platter in life. More often, the only way to take advantage of new opportunities is to create them yourselves. So, don't be afraid to set big-picture goals and to back them up with consistent hard work and a solid plan. You might be surprised at where you end up after just one year or even a few months!<\/p>\n
I'd like to thank Todd for taking part in the Young Money Interview series and for sharing his awesome story! If you have a hankering for more personal finance content, go and subscribe to Invested Wallet. You won't be disappointed.<\/p>\n
Catch you guys in the next one!<\/p>\n","protected":false},"excerpt":{"rendered":"
One of my favorite aspects of blogging is definitely getting to network with some pretty cool people. Since I started my blog a year and a half ago, I’ve gotten to know many successful bloggers, entrepreneurs, and business owners across the personal finance space and other niches. The amount of valuable lessons I have learned…<\/p>\n","protected":false},"author":100,"featured_media":18001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rank_math_lock_modified_date":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[161],"tags":[142,160],"class_list":["post-17998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-finance","tag-side-hustles","tag-young-money"],"acf":[],"taxonomy_info":{"category":[{"value":161,"label":"Personal Finance"}],"post_tag":[{"value":142,"label":"Side Hustles"},{"value":160,"label":"Young Money"}]},"featured_image_src_large":["https:\/\/www.webmonkey.com\/wp-content\/uploads\/2024\/02\/young-money-interview-3.jpg",640,425,false],"author_info":{"display_name":"Tom Blake","author_link":"https:\/\/www.webmonkey.com\/author\/thisonlineworld\/"},"comment_info":0,"category_info":[{"term_id":161,"name":"Personal Finance","slug":"personal-finance","term_group":0,"term_taxonomy_id":161,"taxonomy":"category","description":"","parent":0,"count":60,"filter":"raw","cat_ID":161,"category_count":60,"category_description":"","cat_name":"Personal Finance","category_nicename":"personal-finance","category_parent":0}],"tag_info":[{"term_id":142,"name":"Side Hustles","slug":"side-hustles","term_group":0,"term_taxonomy_id":142,"taxonomy":"post_tag","description":"","parent":0,"count":38,"filter":"raw"},{"term_id":160,"name":"Young Money","slug":"young-money","term_group":0,"term_taxonomy_id":160,"taxonomy":"post_tag","description":"","parent":0,"count":10,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/posts\/17998"}],"collection":[{"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/users\/100"}],"replies":[{"embeddable":true,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/comments?post=17998"}],"version-history":[{"count":0,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/posts\/17998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/media\/18001"}],"wp:attachment":[{"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/media?parent=17998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/categories?post=17998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.webmonkey.com\/wp-json\/wp\/v2\/tags?post=17998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/p>\n