If you want to start a blog that maximizes your earning potential, then you’re going to need to invest in it. Blogging today can be a very competitive market – not only will you be competing with other bloggers in your niche, you’ll also be up against social media influencers, companies, and more. So, to start a blog that makes money and is successful, you’re going to have to be willing to invest in getting it off to a strong start. But if the whole reason for starting your blog is to make extra money, getting the funds together to invest in it can be difficult. Here are some ideas that you might want to consider.
#1. Savings:
If you have any savings, then this is undoubtedly the best way to fund your blog compared to borrowing money. If you consider the blog that you’re about to start as a business idea, then you should have no problem putting some or all of your savings towards it – after all, it’s an investment in your future. Your startup capital should be enough to cover the basics of getting your blog off the ground, including a domain name and web hosting space, web development, or enough to cover the first year using a paid blogging platform, and some graphic design work for things like your logo and social media accounts.
#2. Your regular income:
Over time, you’re probably going to need some regular money to support your blog, and until you’re able to monetise your venture enough to bring this cash in from blogging alone, you’ll probably need to consider whether there is any cash available from your regular income to support your blog. Go through your income and expenditure to come up with a budget that has your blog in mind; see where you could cut expenses in order to have more money to invest in your blog each month.
#3. Credit card:
If you’re short on savings, then it might be a good idea to consider using a credit card to invest in your blog, but be sure that you approach this wisely and with a good amount of caution. Ideally, you should not utilise more than 50% of the limit available on your credit card at any one time, so keep this in mind when investing in your blog. As long as you can comfortably afford to make the repayments each month, a credit card can be an ideal solution for both initial investment and ongoing costs for your blog.
#4. Short-term funding:
If you just need a small amount of short-term cash to inject into your blog and get it off to a good start, then you might want to consider short-term credit options like payday loans. These can be ideal for a small amount of money that you will repay on your next pay day, so only consider this option if you are starting a blog alongside working in a full time job and are sure that you will have the income available to repay the amount that you borrow in full.
Which is the best option for you?
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