Welcome to Day 2 of Blogging Information Week! Today I want to talk about a topic that we all care about! How much should you be spending on your blog? As a college student I often have to make some tough calls about my blogging budget--because I only have so much coming in and so many financial resources. I know that many people have this same issue so I want to talk about this today!
I have invested quite a bit into my website! I buy a domain name and email services for my blog every year through NameCheap, I pay for Squarespace yearly, I have taken many blog courses, and I have done various ads with Facebook before. I put quite a bit of money in my blog. There are a couple of factors that should kind of determine how much you chose to invest in your blog.
How much money your blog is making?
At this moment I put most of the money I make blogging back into my blog. It's fun to get money back from sponsored post, but honestly I'd rather just put the money back into my blog. When you are deciding how much money to put into your blog you obviously want to consider how much it's making so that you can make sure that you aren't spending too much. Obviously investing in your blog and business is important though so don't be afraid to invest a little more than you are making if you have the money to spend on your blog from other revenue sources.
How stable is your blog income?
I can go months with a sponsored post opportunity which kinda sucks, but it is what it is. I wish that it was easier for me to get them, but it isn't. So as I said in point 1, I like to put most of my earned money back into my blog so that I keep it up and running during the barren months.
How much money are you willing to spend?
I also put quite a bit of my own money into my blog and advertising my blog. I usually invest a little in my blog when my financial aid comes in or when I come across a bit of extra cash. You should put a limit of how much of your own money you are willing to spend though, because you don't want to make yourself go broke.
What are you investing in?
This is a question that you need to ask yourself over and over while you are making an investment. Will this investment really and truly benefit me? I think that a domain name is a super great investment because I am able to come off as more of a professional when I send links to people. Some things are great investments while other things aren't. Make sure that you will get something back from whatever investments you make especially if you are on a college budget.
Can you make a free investment?
Make sure you are taking full advantage of other investments that may not cost money at all! Your friends and family are investments because they can share your posts via the internet/word of mouth and really launch your posts. Social media like Facebook, Twitter, Instagram, and Pinterest are investments and if used correctly they can drive a ton of traffic to your website! Be sure that you are fully using the investments that are free before you dive exclusively to the ones that cost money!
I hope that you found these tips helpful for you and your blog. Leave me some feedback in the comments section, how much should you spend on your blog?