For Moriello, she previously explained why it’s fairly easy for existing clients — including forward mortgage borrowers — already served by the company to be flagged as potential reverse mortgage customers once they reach the age of eligibility. For the HECM program, a company professional could look into their customer relationship management (CRM) software and see when a client could potentially qualify for a reverse mortgage.
“Any loan officer can run a report in their own database to calculate when someone’s date of birth hits that prime age [for a reverse mortgage],” Moriello said.
While some may think that certain technology tools are either forward-specific or reverse-specific, Moriello says that the tools at her company are often interchangeable by forward and reverse professionals.
Still, there are advantages to being a lender that is active in both forward and reverse, she explained.
“I feel like, as a loan officer that can look at all products and decide to show the client what different products — like a home equity line, a forward mortgage or a reverse mortgage — can do for them, it gives me the unique opportunity to present all products to them at the same time,” she explained. “[It helps me] give them an understanding about how each product would serve them.”
2024 HECM limit
On Jan. 1, the limit for HECM loans was increased to $1,149,825 by the Federal Housing Administration (FHA). Loan originators who have spoken with RMD on the topic generally find the increase welcome, but they do not feel that the higher limit is a “game-changer” when it comes to new business this year.
Moriello thinks it could be potentially beneficial overall.
“It’s absolutely a consideration,” she said. “I’m in the Northeast, so the higher the dollar amount, the better. I had a conversation [with a borrower] where we were talking through the benefits of taking out a HECM line of credit [for] future planning, [including] the growth rate tied to the HECM line credit.”
Still, despite the potential utility of a higher HECM limit, there are still some product gaps that the proprietary market could serve for people with higher-value homes, she said.
“When I sat down with this borrower, I realized I’ve got to run both the HECM and the proprietary for this client due to the value of the home,” she said. “I wish that we had a proprietary product that had more of a growth-rate line-of-credit option more similar to the HECM.”
Receptivity of referral partners, clients
When asked about openness to reverse mortgages from business referral partners and borrowers, Moriello explained that getting a curt “no thanks” is still common. But for those who might find a benefit in a reverse mortgage, they’re more open of late to explore the possibility.
“More often than not, these high-level professionals are looking for options for their clients,” she said, “whether those options are to help them buy a new home, to live a better life with more assets in retirement, or to help them get a non-taxable stream of cash flow to help them in retirement. They’re looking at opportunities.”
Certain longstanding issues have not gone away, including a perception by some financial planners that makes them feel reverse mortgages are not an option that can even be explored, let alone discussed. But modern classes of financial planners generally seem to be more open to conversations, based on Moriello’s conversations.
“These financial planners are much higher caliber and quality than I’ve ever seen before, but yet the understanding of the compliance behind it causes them to have to take a step back,” she said. “And sometimes they feel they can’t even talk about a reverse mortgage. It’s not as often as it used to be, which is a good thing.”
Spending speed
As for what’s fueling these greater levels of openness, Moriello said it could come from a lot of places, but the speed with which clients are burning through money today is a clear possibility.
“I know from what I can see, it is absolutely tied to how fast people are going through money,” she said. “I can absolutely see that these professionals are worried that their folks are going to run out of money.
“We were just talking here in the office about our own electric bills, which have effectively doubled in our area. That’s one thing when you’re still working, but what happens when you’re on a fixed income?”
That puts far more pressure on fixed-income retirees, which could lead to conversations about tapping into home equity, she said.
“What that means is folks need to take more money out of retirement than they ever have before, and the financial professionals are looking at understanding that. So, they’re looking at options to help them extend the life of their assets so that they can continue to live well in retirement.”
No matter what age you are, it’s never too soon to start thinking about — and actively saving for — your retirement. With reports coming out regularly about the severe retirement savings gap in the U.S., it seems as though the majority of Americans are vastly underprepared for this life event.
If your employer offers a 401(k) at your place of work, this is a great way to get started (or continue) saving for your golden years. Before you jump in, find out exactly what a 401(k) is and how it can help you prepare for retirement. If you already contribute to a 401(k) plan, make sure you know what to expect when it comes time to retire.
How does a 401(k) work?
A 401(k) plan helps you save while investing your contributions in various mutual funds. Employers offer this type of retirement plan, so you can’t sign up for one unless you go through your place of work.
As an incentive to save, you receive a tax break. Depending on the type of 401(k) you choose (or your company offers), you either receive that tax break when you make the contribution or when it comes time to withdrawal.
Employer 401(k) Matching
Many employers offer a match to any contribution you make. This usually happens in one of two ways: they’ll either match dollar for dollar up to a certain limit or up to a percentage of your salary.
The most common type of 401(k), the traditional 401(k), allows you to make any contribution tax-deductible each year. So if you contribute $6,000 a year, you get to knock that off your taxable income amount. If you’re on the edge of a tax bracket and make a sizeable 401(k) contribution, you might even be able to jump down into a different bracket with a lower tax rate.
401(k) Tax Rules
While your investments continue to grow each year, they remain temporarily protected from taxation. Unlike other types of investments, you don’t pay any annual tax on your 401(k) earnings until you start to make withdrawals. At that point, you’ll be subject to regular income tax when you take out money each month.
As you continue to make 401(k) contributions throughout your year, you can adjust your investments to become increasingly less volatile. The idea is that as you get closer to retirement age, you have less risk to ensure a solid nest egg when you need it.
The Benefits of a 401(k)
A 401(k) is a retirement savings plan sponsored by an employer. It allows employees to save and invest a portion of their paycheck before taxes are taken out. Contributions to a 401(k) are made with pretax dollars, which can lower your taxable income in the current year and potentially result in a lower tax bill.
Some other benefits of a 401(k) include:
Employer matching contributions: Many employers will match a portion of their employees’ 401(k) contributions, effectively giving you free money to save for retirement.
Tax-deferred growth: Any investment earnings on your 401(k) account grow tax-free until you withdraw the money in retirement.
Potential for tax credits: Depending on your income and participation in a 401(k) or other qualified retirement plan, you may be eligible for certain tax credits that can help reduce your tax liability.
Retirement income: A 401(k) can provide a source of income in retirement, which can help you maintain your standard of living when you are no longer working.
Convenience: Many 401(k) plans offer a range of investment options, and the contributions are automatically deducted from your paycheck, making it easy to save for the future.
The money you withdraw from a 401(k) in retirement is subject to income tax, and 401(k) plans have contribution limits. However, overall, a 401(k) can be a valuable tool for saving for the future and reducing your tax liability.
401(k) Contribution Limits
There are limits to your 401(k):
While it’s a great financial tool, you can only contribute up to $22,500 each year, amounting to $1,875 per month if you divide it out monthly. If you’re over the age of 50, you’re allowed to contribute up to $30,000 a year ($2,500 per month). These contribution limits are in place so that you can only benefit from so much tax savings each year.
Required Minimum Distributions
Another rule associated with a 401(k) is that you must start taking “required minimum distributions” at some point. That means once you hit a certain age, you must begin withdrawing funds from your 401(k) account — and paying taxes on them.
Currently, the requirement is that you start taking distributions the year after you turn 70 ½. Then you have to take out distributions by December 31 of each following year. Your minimum required amount is determined by the IRS based on your life expectancy. There’s nothing quite like a government tax agency predicting your lifespan, is there?
Still, this information helps you determine what kind of tax burden you can expect when you’ve finally retired. While your income may be lower, your deductions might be as well. After all, you probably don’t have kids left at home to claim as a deduction. And if you’ve paid off your mortgage, you won’t have that interest to deduct either.
It’s great not to have those expenses, but it can be helpful to talk to a tax professional to get a better idea of your taxes, especially in that first year of retirement or required minimum distributions. The more prepared you are, the more financial flexibility you can have!
401(K) Plan Types
There are two main types of 401(k) plans: traditional 401(k)s and Roth 401(k)s.
A traditional 401(k) allows you to contribute pretax dollars to your account. Your contributions and any investment earnings in the account are tax-deferred. This means you won’t have to pay taxes on them until you withdraw the money in retirement. When you withdraw the money in retirement, it is taxed as ordinary income.
A Roth 401(k) is similar to a traditional 401(k), but contributions are made with after-tax dollars. This means you won’t get an immediate tax break on your contributions, but qualified withdrawals from the account in retirement are tax-free.
Some 401(k) plans may offer both traditional and Roth options, allowing you the flexibility to choose the type of plan that best meets your needs.
There are also types of 401(k) plans that are designed for specific types of employers, such as safe harbor 401(k)s and SIMPLE 401(k)s. These plans may have different contribution limits and rules for employer matching contributions. So, it’s important to understand the details of the plan you are enrolled in.
What’s the difference between a traditional 401(k) and a Roth 401(k)?
While a traditional 401(k) offers upfront tax savings in return for taxes paid later during retirement, a Roth 401(k) flips the situation around. Instead, your contributions are made with your taxable income. In return, you don’t have to pay any taxes when you start withdrawing from your account during retirement.
While you miss out on tax savings upfront, you’re only paying on the original contribution amount. If you had to pay taxes when you withdraw, you’re also paying taxes on everything you’ve earned, which is hopefully a lot more money than you started with.
Roth 401(k) Requirements
There are requirements to qualify for the Roth 401(k) benefits:
First, your account must be open for at least five years. You also have to wait until you’re at least 59 ½ before you can start taking distributions, unless you’ve had a disability.
A Roth IRA is particularly useful if you’ve accumulated a lot in retirement savings and other investments. While many people have less income when they retire, that’s not always the case. You may have a comprehensive portfolio of investments, in which case you could be better served by not paying taxes on at least part of your withdrawals.
If you’re nearing retirement and expect to drop in your tax bracket soon, there may be no sense in using a Roth 401(k) now. A Roth 401(k) can be a great choice if you have a lower income now because you’re earlier in your career or have tons of tax deductions because of kids and a mortgage.
Like all retirement plans, there are better products for different points in your life. By constantly reassessing how you contribute to your retirement savings, you can maximize your tax benefits now and in the future.
See also: IRA vs. 401(k): Where Should You Invest Your Money?
Employer Contribution Match
An employer contribution match is a feature of some 401(k) plans in which the employer agrees to contribute a certain amount of money to an employee’s 401(k) account based on employee contributions.
For example, an employer might offer a 50% employer match on the first 6% of an employee’s salary that the employee contributes to their 401(k) account. In this case, if the employee contributes 6% of their salary to their 401(k), the employer would contribute an additional 3% (50% of the employee’s contribution).
Employer contributions are a way for employers to encourage their employees to save for retirement and to provide an additional source of retirement income for their employees. Employers may also use contribution matching as a way to attract and retain top talent.
Employer contribution matches may have certain rules and requirements, such as vesting periods, that determine when an employee becomes fully entitled to employer contributions. Make sure you understand the details of any employer contribution match offered by your employer to make the most of this benefit.
What happens if you leave your job?
Don’t worry. You don’t lose your 401(k) savings if you leave your current employer. You typically have a few different options available to you. First, you can leave it in the company plan if they allow it. You won’t be able to continue making contributions or any changes to your allocations. But you can access it when you’re ready to retire.
401(k) Rollover
Or you can do a rollover:
A rollover allows you to switch the funds to another retirement plan without paying any tax penalties. You can either do an IRA rollover or use a plan from your new employer. You do need to make sure your new employer’s plan allows for rollovers.
Then you can continue your contributions as normal, following the rules of the new account, whatever it may be. An IRA is always a viable option because you’re in control of how you invest. And while the annual contribution limit is $6,500 (or $7,500 if you’re 50 or older), it doesn’t count when you’re rolling over funds.
Your final option for handling your 401(k) when you leave your job is to cash it out. If you do this, you’ll be subject to all the relevant penalties. These include a 10% early withdrawal penalty and income taxes for both federal and state. The exception to the early withdrawal penalty is if you are at least 55 years old when you leave your employer.
How much should you contribute to your 401(k)?
How much you decide to contribute to your 401(k) should depend on numerous factors. At the very least, you should contribute the maximum amount allowed to receive a matching contribution from your employer. That essentially equals free money, which you should never pass up.
Next, think about your financial picture as a whole. What kind of debt do you have? If you have any high-interest credit card or loan balances, you may want to focus your efforts on paying those down before contributing more to your retirement plan. Lower interest debts, like a fixed student loan, may not be as pressing to repay.
Furthermore, consider these recommended saving strategies:
Emergency Fund
You’ll probably want a three to six-month emergency fund in case you lose your job or get a sudden illness or injury. Having a large chunk of money stashed away in an easy-to-access savings account can provide you with financial security here and now.
Roth IRA
Once you’ve got your overall savings plan in order, it’s time to start figuring out where else to invest for retirement. Before you max out your traditional 401(k), think about picking up a Roth IRA. This helps you diversify your retirement plans for tax purposes.
Like a Roth 401(k), a Roth IRA lets you pay taxes on your contributions now, so you don’t have to pay anything when you make withdrawals during retirement. It can certainly help you spread out your tax burdens over the course of your life.
Still have money left over to invest?
If you do, revisit your 401(k). Remember, you can contribute up to $22,500 so you can certainly divert more of your income towards that maximum.
How else should you prepare for retirement?
Preparing for retirement takes a constant reassessment of your current needs versus your future goals. As easy as it is to say, “You need to contribute this-many-thousands of dollars a year to survive retirement,” the reality is that it’s much harder to actually do that.
But saving for retirement is still a challenge worth conquering. Even if you’re in your 40s and haven’t started saving a dime, you can start today. Once you’ve got your current savings fund in place that you can use for emergencies, implement some of these easy tips to get ready for retirement.
For now, worry less about picking the perfect type of account and focus on the habit of retirement saving.
Here are some ideas to get you started:
How to Save Extra Money:
Downsize your living expenses, one step at a time.
Place your tax refund into a retirement account.
Stream television instead of paying for cable.
Cut back on eating out.
Stay healthy to reduce future healthcare costs.
Pay down high interest debt like credit cards.
Sell your stuff and put the money towards retirement.
How to Strategically Manage Your Retirement Accounts:
Create a retirement savings goal as a percentage of your income.
Pay yourself first by setting up auto direct deposit to your retirement account on payday.
Take advantage of higher IRA contribution limits when you’re 50+.
Audit your accounts every year.
Consolidate multiple accounts (like IRAs) to reduce fees.
Put your end-of-year bonus into a retirement account.
Bottom Line
Investing in your retirement is really investing in yourself. Taking advantage of your employer’s 401(k) is an important part of the equation. In addition to making regular contributions, be sure to explore all of your options for financing your retirement. A healthy portfolio mix isn’t difficult to develop, and there are plenty of resources available to help you get started.
Michael Hild, who served as CEO of now-defunct reverse mortgage lender Live Well Financial, is seeking a one-year delay of a deadline to file a motion for a new trial based on what his attorney describes as “new evidence.” This is according to court documents reviewed by RMD.
After his arrest by the FBI in 2019 and a protracted trial process, the jury hearing the case determined in April 2021 that Hild participated in an effort to fraudulently inflate the value of the company’s bonds by approximately $200 million in order to allow it to borrow more money.
More than a year later, Hild was sentenced to a prison term of 44 months by presiding Judge Ronnie Abrams in the Southern District Court of New York (SDNY), but he remains free pending an appeal of the conviction.
Following a process to determine restitution to the financial companies that were victimized by the scheme, the magistrate judge overseeing the case ultimately recommended that Hild pay more than $46 million. Hild and his legal team have consistently maintained that the restitution figure should be lower and, in the case of some companies, should be $0.
Now, Hild’s attorney has submitted a court filing requesting a one-year extension of the deadline for another trial to include new evidence. Although the letter does not specifically mention what the new evidence is, the attorney indicated that it came to light during the restitution proceedings.
“[I]ssues related to sentencing currently are pending before this Court, and indeed, new evidence that could serve as a basis for a new trial motion recently was produced by the government in connection with the restitution proceedings, including in October 2023, December 2023, and January 2024, when Magistrate Judge Parker held an evidentiary hearing on restitution,” the letter reads.
The letter also states that Hild has not yet determined whether he will file for a new trial, but the current deadline to do so is April 30, 2024. Hild’s attorney conferred with the government on the matter and says it “objects to this request.” The government has yet to file a formal motion explaining its objections.
Prior to his sentencing in January 2023, Hild was denied a previous motion for acquittal or a new trial by Abrams.
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A lot has been written about whether now is the best time to buy stocks.
Many think that it is a good idea, and others are still skeptical. So which one should you believe?
This article will help answer the question once and for all with facts rather than opinions.
But first, let’s look at some statistics:
S&P 500 Total Returns for 2021 was 28.71% (source)
In the past 20 years (2003-2021), the S&P 500 was down three times. (source)
Over the 10 year period of 2011-2020, the S&P 500 averaged 13.9% (source)
With that said, will it be best to invest now?
Honestly, that is an answer no one can give you. And the movies about Wall Street won’t help you either.
However, you can learn to read charts become a technical analysis trader, and have a better idea of where the market is going.
The stock market is a volatile thing. It can go up or down at any time. As the statistics show, it goes up more often than down.
Is it Smart to Invest in Stocks?
The stock market is a great way to make money whether for income or for long-term investments. Plus it is a lot more accessible than you think.
With stocks on an upswing lately, it might be tempting to dive in. But do not get too excited just yet!
You must learn how to invest in stocks.
Are you ready to make money in the stock market? If so, learn the steps to start investing today.
In order to make educated decisions, it is crucial that you understand what makes stocks go up or down.
Since you might be asking yourself whether it is a good time to buy stocks after the market has been on such an upswing for several months. The answer is yes, but there are some important factors you should consider before handing over your money.
This article will discuss how the stock market works and provide you with reasons why now may not be a great time to invest in stocks as well as alternatives that could make sense for you if this is indeed a bad time to purchase them.
Read more!
What is the Stock Market?
The stock market is a system of securities, such as stocks and bonds, in which investors buy and sell ownership stakes to each other on various exchanges using money or their own businesses.
Simply put, the stock market is a place where people invest money.
There are many different ways to invest in the stock market, but one of the most popular ways is through buying stocks.
Investing in stocks is a commonly used way to make money.
In the stock market, people can buy and sell shares of companies they believe will rise in value. You can participate by investing in the stock market by buying individual shares of a company like AMZN (Amazon), investing in an ETF like VTI, or investing with a mutual fund, such as VTSAX.
One former assistant principal, Teri Ijeoma, changed her life when she left her job as an educator and become an active trader.
What does it mean when the stock market is up or down
When the stock market is up, it means that stocks have been doing well.
Conversely, when the stock market is down, it means that stocks are losing value.
You have heard the saying… buy low, sell high.
Stocks are an investment that you can purchase in order to make a profit, but the best time to buy stocks is when they are at their lowest price.
If you bought a stock for $100 and its value increased by 10%, then your stock would be worth $110. However, if you bought 20 stocks at $100 and the value increased by 10%, then your new value is $2,200. If you are trading options, then your return (and risk) is much greater.
When the market is up or down there are always going to be opportunities to make money from the stock market!
The hardest part for the novice investor is to determine when to buy and sell.
Thankfully, there is a great investing course to help you figure out how to invest in stocks and options.
Timing the Stock Market
Can you even time the stock market?
Many people are concerned with timing the stock market because of its volatility. Honestly, no one knows what the stock market will do.
As a technical stock trader, you will learn based on previous actions how the market and individual stocks may react.
When day traders or swing traders “time” the market, they are using time frames to make their predictions. Those traders who manage their risk and potential losses well will do better in the market.
For the average investor or someone going off a friend or Reddit recommendation, timing the market can be detrimental to your portfolio.
The real answer to the question, “Is now a good time to buy stocks?” is that there’s no such thing as an ideal moment. It could be a great time or it could also be terrible timing. There are too many variables and market risks which makes this decision very difficult for investors.
Too many times, investors fall into the trap of panic selling while stock prices are low and buying when stocks are high on the fear of missing out (FOMO).
That is why the common knowledge states don’t time the market.
However, I can tell you that you can time the market. If (and it is a big if) you are willing to put the time and effort into an investing education as you would going to college.
Many people have found success in timing the market.
Why investing is always a good idea
Remember earlier in this post, we stated the stock market has averaged 13.9% over the past 10 years and only had 3 negative years in the past twenty.
Simply put, that means you can make money, and investing is a good idea.
That is better than the flip side of your money sitting in the back earning slightly above 0% and when you account for inflation, your money is worthless.
The stock market is (almost) always following an upwards trajectory.
This means investors are more likely to experience gains in their investments than they would if the prices were going down. Moreover, it’s almost never a good idea to just let your money sit doing nothing for years on end because inflation will eventually force you into losing value at some point.
Instead of waiting until then and hoping for the best, focus on what you want instead of what the market is doing at any specific moment.
Must Read: How To Invest In Stocks For Beginners: Investing Made Easy
Is now a good time to invest?
This is the wrong question. The better question to ask would be “What is a good time to invest?”
It is not always a good time to invest. Before buying stocks, it is important that you do your research and have a clear purpose for investing in the first place. Once you know why you are investing, then it will be easier to answer when now might actually be a good time.
What are your goals for investing in stocks?
Are you looking to make extra money?
Do you enjoy learning about the fundamentals of your favorite companies?
Do you have the time to invest to learn about investing in stocks and executing trades?
The desire to increase your investment accounts and net worth appealing?
If you answered yes, then you are ready to start investing in stocks.
If you said no, then stick to consistently investing in EFTs or mutual funds. That is still a solid investing strategy!
The bottom line is whether you are ready to invest. The stock market will continue to do its thing whether you choose to participate or not.
Why does the stock market just keep going up?
The stock market has been steadily climbing for the long trend.
As a result, it’s important to be aware of the factors that influence how much you can profit from stocks. This includes understanding what drives stock prices and when these markets are likely to go up or down.
The reality is that there is no such thing as an “always” in investing — there will always be downturns at some point for any market, but those dips won’t last forever either.
As history proves, the stock market over time will keep going up.
Why has the stock market dropped?
This is the #1 reason why most people are terrified of investing in the stock market.
The fear of the stock market dropping and losing money. Or maybe they were burned in the previous market corrections in 2001 or 2008.
Typically, the stock market has dropped because of the following:
The global economy is going through a rough patch.
There is fear that the US may be headed for another recession.
The US is experiencing inflation that has caused the Federal Reserve to raise interest rates.
In other words, investors are uncertain about the future of the global economy and are afraid of a recession in the US, which will have a significant impact on the stock market.
Just remember, the S&P 500 has come back each time after posting a year or two of negative returns.
However, you can still make money as an investor when the market goes down! Learn how to ride that elevator up and down.
What are the best times to trade stocks?
Ask a few different investment gurus and you are likely to get a variety of answers such as:
It is best to trade stocks when the market is down and on a day with low volume. This way, you are less likely to be hit with volatility that could cause your profits to drop.
The best times to trade stocks are when the market is stable, meaning that there are few fluctuations in price. The most optimal time to enter and exit the market is during a period of low volatility.
The best time to trade stocks is when the market is at an all-time high. (very wrong idea, so don’t try this one)
Traders should try and stay away from markets when volatility or uncertainty is high.
It is important to understand the best times for trading stocks in order to maximize profits.
Overall, your trading plan will tell you the best time for you to trade stocks. Over time with practice in a simulated account, you will be aware of the best times for trading.
Your best times will be different than mine; they will vary for all of us and that is okay. We all view the stock market and read charts in our own way.
Best Stocks to Buy Right Now
What are the stocks to invest in right now? Should you buy stocks now?
Well, first of all, I am not an advisor telling you what to invest in. You are responsible for doing your due diligence.
The best stocks to buy are the stocks that you understand the best– YOUR Watchlist!
Typically, that means following 10 stock tickers and learning everything you can about how those stocks move.
Other investing gurus may tell you the best stock to buy is one that has a low price-to-earnings ratio. This is because the company has room for growth, and they are more than likely not overvalued in the market. They look for industries that are experiencing either a slowdown or an increase in competition.
Personally, I like to stick with strong, healthy companies to buy.
Many times the best stocks to buy right now are growth stocks, which have been very successful in 2021. These types of companies grow rapidly and offer significant returns on investment in a short period time frame.
What are the best stocks to buy now or put on a watchlist? These are the most popular stocks investors tend to follow:
Apple (Nasdaq: AAPL)
Advanced Microdevices (Nasdaq: AMD)
Amazon (Nasdaq: AMZN)
Meta / Facebook (Nasdaq: FB)
Nvidia (Nasdaq: NVDA)
Tesla (Nasdaq: TSLA)
More Best Stocks to Buy
When you invest in these stocks as an investor, it is important that you look for them during their good moments so that your investments will increase significantly over time and always have risk management strategies in place (BEFORE YOU ENTER THE TRADE).
Can You Afford to Buy Stocks?
There are a lot of factors that go into determining the best time for someone to begin investing or trading stocks.
The most important aspect is whether or not you have enough money at your disposal, which can be determined by your personal financial situation.
Other factors that may play a role in determining the best time to trade are whether or not the person trading has a specific investment objective, and if they have a time-sensitive need.
You need to know your long-term goals for buying stocks.
Are you buying stocks as a long-term investor or if you are buying stocks for income?
Either way, you need a solid idea of how to plan to manage your risk and maximize your profit. That is why investing in stocks is so enticing for so many traders.
Read Now: How Fast Can You Make Money in Stocks?
So, should you buy stocks now?
The current market conditions are a great time to buy or short-sell stocks.
However, there are many trading mistakes when investors place a trade.
Whether we are experiencing a bull run or heading into a bear market, there is always money to be made in the stock market. You should not question yourself is it time to buy stocks.
Regardless, you must invest the money in a solid investing education. That is non-negotiable.
If you want to go out and start buying stocks without investing knowledge, that is fine. Just do not complain if you lose more money than the only investing course I recommend. Check out my Trade and Travel review.
You must do your own due diligence when investing in stocks and finding a good time to buy stocks.
This is your investing journey!
Your journey will be different than my investing journey. That is okay because we each will find our niche and how we like to trade stocks.
Back to the original question, is now a good time to buy stocks?
Overall, you must look for the best companies to invest in. That will make you successful at investing.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Wondering how to stay at hotels for free? I have stayed in many hotel rooms for free over the years by using many of these same strategies below. Finding ways to get free hotel stays is a great way to travel on a budget or simply just save money on hotels. This can allow you…
Wondering how to stay at hotels for free? I have stayed in many hotel rooms for free over the years by using many of these same strategies below.
Finding ways to get free hotel stays is a great way to travel on a budget or simply just save money on hotels. This can allow you to go on more vacations and use your money for other things in life.
Whether it’s a fancy resort or a specific hotel brand, the trick is to know where to find these opportunities and make the most of them.
Key Takeaways
Loyalty programs are a direct path to earning free hotel stays. This is because they tend to give a free night after a certain number of paid stays. You accumulate points for each stay that you can redeem for free nights.
Credit card points can be used for free hotel stays. Many credit cards partner with hotel brands to give sign-up bonuses. By meeting the minimum spending requirements, you can earn points for free hotel stays. These points can be substantial, so choose a card aligned with your preferred hotel chain.
Earning gift cards from rewards platforms can be a way to make money to put toward free hotel stays.
Best Ways To Get Free Hotel Stays
Below are ways to get free hotel stays.
Take surveys for free hotel stays
You can get free gift cards by answering paid online surveys, and you can use these gift cards to help you get a free hotel stay.
So, this would work like this – you could get free gift cards to places like Hotels.com, Marriott Hotels, Holiday Inn, or even a Visa gift card (that you can use anywhere) as a reward for answering online surveys. You then collect gift cards until you reach the amount that you need to book the hotel that you want.
To get started, you’ll want to find a survey site that you trust. Some of my favorites are:
I recommend signing up for all of them so that you can get the most surveys possible to answer, which will then pay you with more gift cards.
There are also other apps that you can use as well to get free gift cards, such as Fetch Rewards and Ibotta.
I get free gift cards all the time, and recently, I logged into several of the accounts that I am signed up for and turned in my points. This led to me getting $275 in free gift cards. I personally like to wait until I have a lot of gift cards that I can redeem all at once.
Now, this would take a decent amount of time. You won’t get a free hotel stay in one day. But if you keep doing surveys, your gift cards will add up.
Recommended reading: 16 Real Ways To Earn Free Gift Cards (Amazon, Target, Visa)
How to get free hotel stays as an influencer or blogger
As a blogger and social media influencer, I have received many hotel stays for free over the years. From luxury hotels and all-inclusive resorts in the Caribbean to RV campgrounds and more, I have partnered with many different types of accommodations over the years.
And, I know of many other people who have received free hotel rooms through this as well.
Getting free hotel stays as an influencer means partnering with hotels and showing them why you’re valuable to their brand.
This may include sharing your hotel stay on your blog, Facebook, Instagram, Twitter, YouTube, TikTok, or somewhere else that you have followers and readers.
Here’s a quick guide on how to stay at hotels for free as a social media influencer or blogger:
Assess what you can offer. Hotels are looking for exposure and new customers, so your reach and engagement rates are important. How many people will see what you share about their hotel?
Customize your content to align with the hotel’s image and key messages.
Contact hotels professionally, usually through their marketing or PR department, and highlight how your content will benefit their visibility and attract potential customers. This is typically done through email.
Be clear about expectations – what you will provide and what you expect in return. Set deliverables, such as a number of posts, stories, or a video.
You can learn how to start a blog by taking my free How To Start A Blog Course. You can join over 80,000 people who have already taken the course. In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
Travel credit card rewards
If you want to learn how to stay at hotels for free, this is one of the top ways.
I have earned several free hotel stays over the years by using the rewards points I have earned from my credit cards toward my hotel room. I’ve been using rewards credit cards for years, and they are pretty much all that I use now. It helps me save money on travel, earn cash back, and more.
A rewards credit card lets you earn points, miles, or cash back that you can use for almost free travel. These cards usually give you points that you can use for things like airline miles, booking hotels, gift cards, or cash back. You earn these rewards just by using your credit card for everyday purchases like groceries, gas, and shopping. But remember, it’s important to pay off your full balance each month to make sure the rewards are worth it and avoid paying extra for interest charges.
Here’s a quick summary to help you understand how rewards credit cards work:
Choose a credit card with rewards that interest you, like points, cash back, or travel rewards.
The card may require you to spend a certain amount, for example, $3,000 in the first 90 days, to get a sign-up bonus. Some don’t have any minimum requirement, and you can simply earn points for your purchases.
Use these points for rewards like cash back, hotel stays, airfare, or other options.
You can learn more about my favorite cards at Best Rewards Credit Cards, such as the Chase Sapphire Preferred Card (Chase Ultimate Rewards Points are the best!), Chase Sapphire Reserve, Marriott Bonvoy Boundless, Hilton Honors American Express Surpass Card, and others.
I also recommend reading How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included.
Note: Credit card rewards and even the best travel credit cards are not worth it if you go into debt. Remember to pay off your monthly bill in time (and the full amount) before interest charges accrue. Also, many of the good rewards credit cards have an annual fee each year on your card anniversary, so take that into account as well. So, you should always be careful!
Sign up for hotel loyalty programs
Hotel rewards programs are your way to get free stays and room upgrades. When you join these programs, you can earn points for a free night’s stay, and as you climb the levels, you can get additional benefits such as getting your resort fees waived.
Programs like Marriott Hotels, IHG Rewards Club, and Hilton Honors are free to join and sometimes give you a free night after a certain number of stays or points earned.
Some examples of hotel rewards programs include:
Marriott Bonvoy – Combines former Marriott Rewards, Ritz-Carlton Rewards, and Starwood Preferred Guest programs.
IHG Rewards Club – Allows you to earn points for stays which can be used for free nights.
Hilton Honors – Provides exclusive member deals and guarantees the lowest rates when booking directly.
Many travel booking sites also have rewards programs, such as Expedia even. These programs give valuable benefits like this to get you to book through them as much as possible so that they can make more money.
You can earn points in several ways beyond just booking hotel rooms:
Stay at hotels – Every night you stay earns you more points, with the amount varying by hotel and the rate you book.
Promotions – Look out for and register for periodic promotions that have bonus points.
Partnerships – Earn points through partners, for instance, by booking car rentals or flights with associated airlines.
Your accumulated points can be redeemed for free hotel nights, among other rewards. The number of points needed for a free night certificate varies by hotel brand, location, and the room’s price.
Find mystery shopping jobs at hotels
Mystery shop companies sometimes need secret shoppers to evaluate a hotel for them. I have seen these types of jobs pop up several times, and I have personally done a few as well.
These are typically just one or two-night stays in your local area, but it can make for a fun and free staycation.
This can be a great way to vacation on a budget.
Become a travel agent if you’re traveling with a group
If you often travel with groups, becoming a travel agent can be a smart choice. As a travel agent, you get industry discounts and may earn commissions on your bookings. To become one, you need accreditation, usually from a trusted program that teaches you important industry knowledge.
Here’s how you can benefit:
Access to discounts – As a travel agent, you can unlock special rates not available to the public. When traveling with a group, this can translate into significant savings.
Earn commissions – Booking for multiple people means the potential for earning commissions from hotels increases. This can sometimes offset the cost of your own accommodation.
Though this role comes with perks, it also means handling travel details professionally and responsibly for others. It’s not just about getting free stays; it’s also about making sure that your group has great travel experiences.
Work at a hotel
Working at a hotel can be a way to get free accommodation. As an employee, you can usually get discounts or even stay for free, depending on your job and the hotel’s policy.
This may include jobs such as working the front desk, being in management, and more.
Policies vary, so it’s important to know what’s available to you and to ask about the hotel’s policy on employee stays. For example, some hotels have a set number of free nights as part of the employment package. Plus, discounts on rooms can sometimes extend to family and friends.
Attend a timeshare presentation
Going to a timeshare presentation can lead to complimentary hotel stays.
These can sometimes be brutal, though, so if you think that you may end up buying a timeshare that you don’t need – then DO NOT DO THIS! Timeshares can be quite expensive and they are lifelong with annual costs.
But, if you think you can withstand the temptation, plenty of people sign up for these in order to get a free hotel stay all the time.
Here’s how this works:
Usually, your attendance at a 90-minute to 2-hour sales pitch is required.
Be prepared for high-pressure sales tactics, but remember you’re under no obligation to buy.
Incentives can range from free hotel stays, discounted travel, or even gift cards.
Make sure you understand the terms and conditions attached to the free stay.
If interested, consider the timeshare offer carefully. If not, politely decline and redeem your free stay or other perks.
Hotel promotions and deals
You can stretch your travel budget by taking advantage of different hotel promotions and deals to get the best room rates. Whether you travel often or are planning a one-time trip, there are several strategies you can use to get free hotel stays.
When you sign up for newsletters from your favorite hotel chains, you’ll receive emails on new promotions and deals (such as for seasonal sales on room rates) directly to your inbox. Some hotels might even offer a reward night, room upgrades, or welcome points just for joining at check-in.
Scan your grocery receipts for free hotel gift cards
Using grocery receipt scanning apps can be an easy way to earn free hotel stay rewards.
As you do your regular grocery shopping at grocery stores, these apps turn your grocery receipts into points, which can be exchanged for gift cards that can be used at different hotels.
Here’s how you can get started:
Download receipt scanning apps – Look for apps like Fetch Rewards (this is my favorite and the one that I use for every single one of my grocery receipts) that are known to offer hotel gift cards as a redemption option.
Scan your receipts – Every time you shop, take a second to scan your receipts using the app.
Earn points – Get points with every scanned receipt.
Redeem for hotel gift cards – Once you’ve earned enough points, browse the app’s reward section for hotel gift card options. Select your preferred hotel chain and redeem your points. With Fetch Rewards, you can get gift cards to places such as Airbnb, Hotels.com, Visa, and more.
While it will take some time to earn enough points, it can be a way to save some money on a hotel reservation.
Frequently Asked Questions
Below are answers to common questions about how to stay at hotels for free.
Is it possible to get a free night at a hotel?
Yes, you may be able to get a free night at a hotel through loyalty programs, which reward you with points for free night awards that can be redeemed for free nights. Additionally, some programs may give a free night after a certain number of paid stays or as a sign-up bonus.
How to get a hotel room for free?
You may get a free hotel room through loyalty programs, credit card rewards, by earning free hotel gift cards, and more.
How can I earn free hotel stays through surveys?
You can earn points by joining market research and filling out surveys on specific websites. These points might be traded for hotel rewards points, allowing you to book hotel stays for free.
Are there contests or sweepstakes that offer chances to win a stay at a hotel?
Yes, contests and sweepstakes run by hotels, travel bloggers, or travel websites tend to have hotel stays as prizes. You can start by possibly searching related hashtags on social media, such as #giveaway.
How can I travel luxury for free?
Traveling in luxury for free can be done by maximizing credit card sign-up bonuses and rewards, leveraging elite status with hotel loyalty programs for upgrades, and possibly collaborating with luxury hotels as an influencer if you have a strong online following.
How to get a free hotel room by complaining?
If you honestly had a bad stay at a hotel, you may be able to talk to management. Sometimes, they will give you a free hotel stay to make up for the bad review. But, you should never lie about a stay just to get a free room, as you can cost someone their job.
How To Stay at Hotels for Free – Summary
I hope you enjoyed this article on how to stay at hotels for free.
There are many ways to get free hotel stays, as you learned above.
Joining hotel loyalty programs at major hotel chains is a simple way to get free night rewards. These programs give you points for staying often, and you can use these points for free hotel nights.
Travel credit cards and hotel credit cards also give rewards that can be used for hotel stays.
If you’re an influencer or booking for a group, this may result in you getting a hotel stay for free. Other ways, like joining hotel promotions, being a mystery shopper, or attending timeshare presentations, can also get you free or cheaper stays at different places.
I have personally done many of the ways listed above to get free hotel stays at places in many states and countries. The stays have been great and have allowed me to save so much money over the years!
It wasn’t that long ago — perhaps your mother’s or grandmother’s time — when women couldn’t get bank loans or credit cards, and employers could pay them less, explicitly for being women. While women have made considerable strides in attaining financial equity over the past 60 years, this history still plays a role in their current experiences and finances.
A January 2024 NerdWallet survey of more than 2,000 U.S. adults, conducted online by The Harris Poll, asked Americans about the gender financial divide and found remnants of that recent past.
“A lot has changed since the 1960s and 1970s, but these decades and what came before them still impact our financial lives,” says Kimberly Palmer, personal finance expert at NerdWallet. “Acknowledging how our financial experiences differ across gender, race and even age can help us understand what we can do in our personal lives and household budgets to improve our financial outlook as well as the role that governments, companies and institutions can play.”
Key findings
Men are seen as having an easier time finding well-paying jobs, but women are more optimistic about their current roles. More than 2 in 5 Americans (44%) say men have the easiest time finding a well-paying job, while just 11% think women do. However, employed women are more likely to feel optimistic about keeping their current job over the next 12 months, with 81% saying this versus 76% of employed men, according to the survey.
Men were more likely to receive a pay raise over the past year. More than 1 in 4 men (27%) say their salary or pay rate increased over the last year compared with 21% of women, according to the survey.
Both men and women are more likely to say the most financially successful person they know is a man. Just 16% of Americans say the most financially successful person they know is a woman, compared with 37% who say it’s a man, according to the survey. That includes 42% of men and 33% of women who say a man is the most successful person they know.
Women were cited as better money managers. Close to 3 in 10 Americans (28%) say women are better at managing money on a daily basis than men. Just 15% say men are better at it, according to the survey.
Financial Outlook
Overall, 72% of Americans say they’re optimistic that their financial situations will improve over the next 12 months — roughly equal shares of women (71%) and men (72%). But beneath the surface, there are some disparate perspectives. Here’s a look at several, along with advice for consumers on navigating personal finances.
Current job security and job-seeking
Women have become major players in the labor market over the past several decades. In 1953, about 34% of women participated in the labor force. That figure peaked at 60% in 1999, and had dropped to 57% in 2023, according to the Bureau of Labor Statistics.
But being more prominent in the workforce doesn’t mean getting the best jobs is easy. In the NerdWallet survey, more than 2 in 5 Americans (44%) say men have the easiest time finding a well-paying job (just 11% think women do).
The ability to maintain employment once you find it is key to financial security, and in this regard, women are feeling good. About 4 in 5 employed women (81%) are optimistic about continuing to work in their current job over the next 12 months, compared with 76% of employed men, according to the survey. That divide was larger among generations: just 59% of employed Generation Z (ages 18-27) expressed optimism about their current jobs, compared with 79% of employed millennials (ages 28-43), 84% of employed Generation X (ages 44-59) and 88% of employed baby boomers (ages 60-78).
Stay competitive in your field. Even the best employees aren’t guaranteed their job will be there forever. Keep your resume updated and look at open roles occasionally to stay abreast of what employers are seeking. Then, if the economy takes a turn and you lose your job, you can quickly pursue new opportunities.
Recent pay increases
The Equal Pay Act of 1963 barred employers from wage discrimination based on sex. While the gender pay gap has narrowed since that time, it hasn’t closed.
On average, women’s paychecks continue to fall short of those of their male counterparts. According to the BLS, women who are in the 25-34 age group earn about 90% of men of the same age, on a weekly basis. Looking at 35- to 44-year-olds, women earn even less (84%) than men. Lower earnings mean women generally have less of a buffer to rely on when times are tight.
More than 1 in 4 men (27%) say their salary or pay rate increased over the last year compared with 21% of women, according to the NerdWallet survey. That divide expands among Gen Xers, where 40% of men say they had a pay bump and 25% of women say the same.
“Given those pay disparities, it’s harder for women to funnel money into savings and investing accounts, since on average, they are starting with less. With the power of compound interest, those discrepancies can add up over time, creating even greater wealth gaps between men and women by the end of their lives,” Palmer says.
Ask for more from your employer. Only 8% of Americans — roughly equal shares of men and women — negotiated for a higher salary at their current job, according to the survey. Whether it’s time for your annual review or you’re considering a new job, be prepared to negotiate for more money and/or perks. A 2021 study by researchers at the University of Southern California found participants often avoided negotiating compensation, but those who did wound up getting larger pay packages.
Financial Security
Roughly equal shares of men (61%) and women (63%) say they’re optimistic that the financial companies they use care about their financial well-being, according to the survey. But it wasn’t always that way. There was a time when women in the U.S. couldn’t take out loans or have their own credit cards, particularly if they were unmarried. The Equal Credit Opportunity Act of 1974 changed that, barring discrimination by lenders based on gender or marital status.
Access to credit can be a lifeline when unexpected expenses arise. So can an emergency fund. The survey reveals that a smaller share of women believe they won’t have to tap such a fund in the coming year: 65% of men are optimistic they won’t have to dip into their emergency savings in the next 12 months, while 58% of women express the same optimism.
But millennial women are concerned: About 1 in 5 (17%) of this group say they’re “very pessimistic” about having to use those emergency funds over the next 12 months compared with 8% of millennial males, according to the survey.
The ability to build an emergency fund can feel like a luxury, one that may be afforded less to folks with less wealth. And while the gender pay gap is notable, the gender wealth gap — which takes debt and assets into account — is even more pronounced, according to the St. Louis Fed.
Indeed, just 16% of Americans say the most financially successful person they know is a woman, compared with 37% who say it’s a man, according to the survey. That includes 42% of men and 33% of women who say a man is the most financially successful person they know.
Bolster your emergency fund. A robust emergency fund is the bedrock of financial security. It can insulate you from a variety of financial shocks. If you’re starting from scratch, build your fund incrementally, beginning with a goal of $500, for instance. In the long term, aim to have several months of essential living expenses set aside in a high-yield savings account.
Money management and advice
Having money and knowing what to do with it don’t always go hand in hand. The survey finds nearly twice the share of Americans think women are better at managing money than are men.
Close to 3 in 10 Americans (28%) say women are better at managing money on a daily basis than men. Just 15% say men are better at it. Men are fairly evenly split in this assessment — 21% say women are better at the task and 22% say men are. Women are a bit more biased — 35% say that women are better at it and 9% say men are.
The perspective that women are better at daily money management doesn’t necessarily translate to people seeking out their guidance: 15% of Americans say the person they most often turn to for financial advice is a woman and 25% ask a man.
Gen Zers and millennials are slightly more polarized, with 35% of Gen Z women and 24% of millennial women saying they most often ask a woman for financial advice. Compare that with just 15% of Gen Z men and 10% of millennial men who say the same.
“Own” the financial factors within your control. You can’t control how society adapts to significant cultural shifts (such as allowing women access to financial equity). But you can find ways to take authority over the money you have, learn how to manage your money daily and give yourself the best possible chance to earn more and reach your long-term financial goals.
“Setting financial goals that are realistic and manageable can make it easier to stay on track with your spending and saving habits,” Palmer says. “Sharing those goals with friends and family who can offer support and their own tips also helps. We’re in it for the long run, so think about where you want to be in several decades, and begin taking steps to reach that destination today.”
Methodology
This survey was conducted online within the U.S. by The Harris Poll on behalf of NerdWallet on Jan. 18-22, 2024, among 2,085 adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, contact [email protected].
Disclaimer
NerdWallet disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the article’s information is accurate, reliable or free of errors. Use or reliance on this information is at your own risk, and its completeness and accuracy are not guaranteed. The contents in this article should not be relied upon or associated with the future performance of NerdWallet or any of its affiliates or subsidiaries. Statements that are not historical facts are forward-looking statements that involve risks and uncertainties as indicated by words such as “believes,” “expects,” “estimates,” “may,” “will,” “should” or “anticipates” or similar expressions. These forward-looking statements may materially differ from NerdWallet’s presentation of information to analysts and its actual operational and financial results.
What began as a small side hustle has evolved into one of the more popular online Etsy shops.
Noblesville couple Amie and Chris Knuckles created their online wood wall art and home décor business, Vintage Adventures, in 2015. In 2020, the business became a full-time venture when they launched the shop on Etsy, which – according to the Etsy analytics tool Erank – is in the top 2 percent of the platform’s sellers.
The couple, who have worked out of a garage at 936 Maple Ave. since 2021, created a key to the city for the late pop artist Jimmy Buffett in 2020, and one of their art pieces appeared in the 2022 movie “The Requin.”
“(When we started out) we both had really stressful (full-time) jobs, and going around to auctions and making things, it was fun, so it was like a hobby to start with,” Amie said. “We just enjoyed creating things. I never in a million years would have thought that this is what I would be doing. I was a director of nursing when this started. I never thought I would ever in a million years (run an art business).”
Initially, the Knuckles sold vintage furniture in a booth at the antique mall and eventually the Logan Village Mall. They started making and selling wall art after they decided to make art for their own walls in their booth space, which they thought were too bare. They started selling on Etsy after Chris lost his full-time IT job as a project manager during the COVID-19 pandemic.
“(Amie) came in the room, she’s like, ‘Let’s start an Etsy shop, it’ll be fun,’” Chris said. “And I always say that because every time we’re in here and we’re sweaty and we’re tired and exhausted, I’m like, ‘Let’s start an Etsy shop, it’ll be fun.’”
Although Amie devotes most of her time to the art business, she still works part time in a hospital.
Besides their Etsy shop, the Knuckles also have a website where they sell their art.
The Knuckles said their favorite part of their business is traveling, attending festivals, meeting people and the adventure of it all. They were invited to be a part of the Orange Beach Festival of Art in Orange Beach, Ala., March 9-10 and plan to attend more festivals this year.
“We’ve had a lot of great things happen to us over time,” Amie said. “When we get to the point where we start to doubt it, something really cool will happen that gets us to that next step and then we’re like, ‘Yeah, yeah, maybe this is what we’re supposed to do.’”
Amie and Chris said owning and operating Vintage Adventures is the highlight of their lives. They both take pride in their work.
“I look back on my (old full-time) career and think, ‘I did all that stuff but I didn’t do (anything). All I did was make some corporation more money or whatever, right?’” Chris said. “So, now, when I look at the stuff that we do (with our art business), it’s going to sound cheesy, but I feel like I’m leaving some sort of legacy, some part of me is still going to be around.”
THE KNUCKLES’ ART METHOD
Vintage Adventures owners Amie and Chris Knuckles create their wood art with lasers. They usually create a digital design and then use a CNC machine where a laser cuts a slab of wood into different pieces, according to the design.
Amie paints the pieces of wood, then the couple glues the pieces together and frame it.
Eventually, the couple plans make prints of the art that will be sold at a reduced price from the original pieces.
To find Vintage Adventures on Etsy, visit etsy.com/shop/VintageAdventuresLLC?ref=shop-header-name&listing_id=1027666500&from_page=listing.
For more on Vintage Adventures vintageadventureshomedecor.com.
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There is a difference between being rich and wealthy.
However, most people combine rich and wealthy into one bucket because they both seem so far off and unreachable.
It is important that you understand the distinction because what one person considers “rich” might actually be considered “wealthy.”
There is a huge difference between the two words, no matter how they are used.
Earning a lot of money does not automatically lead to happiness and success because when one achieves happiness when it can be reflected in the fulfillment of ambition.
Being rich usually means that you have an abundance of material things such as money and expensive items.
Being independently wealthy can be seen as someone who has a lot of money, but it also means that they have enough money that will last the test of time.
There is a difference between being rich and being wealthy, but they are both can be seen as positive things.
Let’s discuss the different types of wealth and how they are defined in order to help differentiate these two concepts.
The real key of Rich vs Wealthy is the discussion on which one you should be striving to be.
So, is it better to be rich or wealthy?
What is a Rich Person?
A rich person is someone who has a lot of money and assets. This may be a businessperson, an investor, or just someone who has been very successful in their field.
This rich person has probably created new money vs old money.
Rich people tend to barely save any money and spend excessively, meaning they run out of cash quickly. For example, a rich person might earn $10,000 in a month while spending $12,000 to wind up with a negative $2000 when the month is over.
The amount of debt for a rich person tends to be higher. They are willing to keep up the lifestyle rather than tell others about their debts.
To be rich you have to be able to take the risk of having money to invest and time to wait for the windfall.
What is a Wealthy Person?
A wealthy person is someone who has a lot of money for their lifestyle standards.
Since a wealthy person is consistently growing their money because they save and are wise with what they have. They tend to think of the future and put away some cash for it rather than spending everything.
Their goal is to take their large sum of money and grow that money even more through active or passive income.
A wealthy person does not have to be a number-crunching billionaire or someone who is living lavishly.
It is all about the decisions that you make and how those decisions can lead to wealth.
You can start to build wealth when you hit your first $100k in investments. When you have a salary of over $100k a year, this is much easier to do fast.
Wealthy people are those who have a lot more money than you do, but they work hard every day in order to keep it.
Rich vs Wealthy Money Habits
Rich people tend to spend more money than wealthy people.
The difference between rich people and wealthy people is that rich people have money habits that often lead to debt. Rich people are not usually frugal, and they tend to spend a lot of money.
Also, rich people have the ability to earn more if they choose something different in the future.
Rich people are usually defined as those with a net worth of over $10 million, but there is no set number for how much money someone has to be considered rich.
Wealthy people, on the other hand, have an annual income of $150,000 or more. Their wealth comes from hard work and saving money to slowly increase their net worth.
Broke People Habits:
Spend time watching TV and playing video games
Keep up with the Joneses’
Blame others for failures
The concept of change is too overwhelming
Too afraid of setting goals because they don’t want to be accountable
Deep in debt
Feel their situation will never change
Never save money
Willing to get a credit card just for a discount
Think bank fees and overdraft fees are a part of life
No emergency fund
Rich Habits:
Earns a lot of money
Spends a lot of money
Enjoys a flashy lifestyle
Okay being in debt
Focuses on the short term
Not big savers of their money
They frown upon being frugal
Prefer a challenge to make more money
Takes on bigger risks
Their inner circle is people exactly like them
Very impulse with decision making
Wealthy Habits:
Set long term goals
Creates an action plan to reach their goals
Take responsibility for their actions
Saves money consistently
Understands that passive income will grow their wealth
Constantly learning
Spend time reading
Enjoys the fact they have options
Lives below their means
Embraces frugal
Shy away from debt
Finds a mentor
How to Go from Rich to Wealthy
Many people feel the need to be rich because they have the idea that being rich is key to success.
However, many times, wealthy people are wealthier than their counterparts who are both richer and wealthier.
If you are rich, then it is important that you are not frugal because many times, being wealthy means having a lot of money and saving the rest. If you have a lot of money and are not frugal with it, then you could end up broke.
However, if your goal is to become wealthy meaning having a lot of money AND saving, then you are on the right path to financial freedom.
This is the difference between being rich and wealthy.
Rich vs Wealthy Mindset
First of all, the definitions of each of these are really close.
A rich mindset is a state of mind that knows that there are no limits to what you can achieve.
A wealthy mindset believes that success and wealth come from hard work and dedication.
Honestly, both money mindsets are needed to keep pushing yourself to reach financial freedom and enjoy time freedom.
You need a rich mindset to grow your money, but a wealthy mindset to keep that wealth.
The wealthy are more likely to have a growth mindset than the poor because they know that money is merely an instrument for achieving their goals.
Whereas, rich people often spend too much time worrying about what others think of them and why they aren’t as successful or wealthy as other people in society.
How to Become Wealthy
This is a question that has been asked many times, and finding the answer depends on how you define wealth.
In general, becoming wealthy means having enough money to support yourself without any outside help.
You have enough money to cover your expenses without the need for an additional influx of money. For many people, that means they need at least $1 million dollars, so they can live off the investments gains and dividends. If you are single, then $500k may be enough.
As such, becoming wealthy is one of the most difficult things to do.
If you are constantly struggling to make ends meet and never saving money, then becoming wealthy will be even harder for you to accomplish!
Here is what you need to do to move from well off vs rich vs wealthy.
Step #1 – Get out of debt
For people who are in debt, the solution is simple: get out of debt.
But for a lot of people, they need to make some changes before they can do that.
It’s important to get out of debt and that takes time. The more debt you have, the longer it will take.
However, I will tell you from personal experience. Until we paid off our debt, we didn’t make any progress financially. We were stuck on a hamster wheel. Since paying off our debt, we reach our financial goals so much easier.
Track your progress, set goals, and stay motivated while getting out of debt.
Step #2 – Stop comparing yourself
Although comparisons can be helpful and may indicate which side is doing better or worse, they are not always accurate. Sometimes comparing yourself to others will make you feel inferior and frustrated.
Keep in mind that you are not just the sum of your accomplishments.
Stop comparing yourself to other people and start focusing on the things that make you happy.
Conversely, spending time with people who inspire you will help cultivate a wealthy mindset. It can be anyone from your family members to celebrities, but it is important that these individuals are inspirational and not toxic for your mental health.
Step #3 – Become Your Own Boss
This doesn’t mean you can’t keep your 9-5 job. It means you are looking for ways to make money outside the traditional “job.”
An entrepreneur is a person who organizes and runs a business, typically with manageable risk and a small amount of capital, in order to turn it into a profitable venture.
Become creative with ways to bring in extra money. Some ideas include day trading, dropshipping, starting an Etsy shop, driving for Uber, or walking dogs.
Here are great ways to make money on the side:
It is possible to make more money on your business than you make more money in your current job or career.
Step #4 – Be Generous
Be generous to others.
Being wealthy means living a comfortable life and being able to help others.
Giving away money can be a way to build wealth, but it is not the only way. This helps you realize the impact you can have on the world.
Your small contribution can help shape and change the lives of so many.
Consequently, giving and helping others will motivate you to work harder and continue building your wealth.
Step #5 – Think Long Term & Set Goals
Life goals have exploded in recent years and many of us are now focused on growing our own wealth.
The truth of the matter is both wealth and richness are great.
Wealth enables a person to live life on his own terms and allows them to achieve the things they have dreamed of.
But, getting there does not just magically appear.
It takes a plan of action to reach those smart financial goals.
By consistently saving money, you will slowly build your net worth. Step by step you are building the foundation to become wealthy.
Baby steps to becoming wealthy.
Rich vs Wealthy Quotes
This rich vs wealthy quote from Stephen Swid is one of my favorite all-time quotes.
This quote quickly summarizes the difference between the wealthy vs rich definition.
“Being rich is having money; being wealthy is having time.”
As an American businessman and investor, Stephen Swid spent countless hours on various deal negotiations and build his own wealth. He understood the wealthy vs rich meaning.
This quote is something I focus on when making decisions of what next steps to take.
What does this quote mean to you?
What is considered being wealthy?
Being wealthy is a subjective term that can be interpreted in many ways. The definition of the term is different for everyone, so it’s hard to answer this question definitively.
Many people believe you need 7 figures or even 10 figures.
One could be considered to be wealthy or poor based on their country’s standards, their personal spending habits, and the types of investments they have.
The richest people are those who have made their wealth through investments and not necessarily the ones that have spent a lot of money.
The definition of wealthy is different for everyone, but it’s generally considered to be someone who has a lot of money and financial stability.
Being wealthy is measured by how much money you accumulate and save.
It is understanding your personal finances to budget, track savings, contribute to retirement, and grow liquid net worth.
A wealthy person is someone who has made wise decisions. Wealth does not have anything to do with how much money you have in your bank account.
Do you Fit the Definition of Wealthy vs Rich?
Now, we have covered the difference between the wealthy and the rich. If you’re wondering what is the difference between rich and wealthy, it’s not that complicated.
Rich people are those who have saved, invested, and built net worth through their income or assets. Wealthy people can follow these three simple steps to build your own wealth: save money in a savings account or investment account; invest in stocks, bonds, or other securities for growth; create an asset such as real estate by purchasing property with borrowed funds on low-interest rates
The key distinction between being rich or wealthy is the mindset.
Rich people might have more money in their bank accounts or assets, but they don’t think of themselves as rich because they are worried about their appearance and keeping up with their elite society. Wealthy individuals are those who see value in accumulating wealth primarily through investing and growing their financial portfolio with investments over time.
A rich person is someone who has more money than the average person but may not wealthy. They are always looking to make more money and spend more because they believe that there is not enough time or money in this world for them to enjoy.
Wealthy individuals are those who can afford to buy things and choose not to because it helps them increase their net worth and become more wealthy.
The only way to be wealthy is by being smart on your investments and having time for yourself in order to find happiness.
Being rich may or may not be something you should aspire to be. The more money you have, the more responsibilities you get.
There are many rich and wealthy people who are unhappy because they are so busy trying to keep up with society’s expectations.
Know someone else that needs this, too? Then, please share!!
Did the post resonate with you?
More importantly, did I answer the questions you have about this topic? Let me know in the comments if I can help in some other way!
Your comments are not just welcomed; they’re an integral part of our community. Let’s continue the conversation and explore how these ideas align with your journey towards Money Bliss.
Hey, I’ve just been featured on CNBC and I want to say hello to all of my new readers. You can read the CNBC article here – 34-year-old mom dropped $50,000 to cruise the world with her family: ‘It was some of the best money I ever spent’ If you are a new visitor –…
Hey,
I’ve just been featured on CNBC and I want to say hello to all of my new readers.
You can read the CNBC article here – 34-year-old mom dropped $50,000 to cruise the world with her family: ‘It was some of the best money I ever spent’
If you are a new visitor – welcome to Making Sense of Cents!
I have received many emails about how I was able to afford this trip. I have a free How To Start A Blog course that you can sign up for here. I also talk about this below and how I’ve been able to earn over $5,000,000 blogging over the years.
If you want to read more about my world cruise trip, I recommend reading Around-The-World Cruise With A Kid (25+ Countries In 4 Months!).
Here are some blog posts that you may find helpful and enjoy:
If you have any questions, please leave a comment below or send me an email.
Thanks for stopping by.
-Michelle Schroeder-Gardner
—-
In addition to reading the CNBC article linked above, I also want to talk about how I grew a blog that has earned me over $5,000,000. I know I will get a lot of questions, so I figured it’s best to lay it all out right here 🙂
What started as just a hobby turned into one of the most life-changing things I’ve ever done – that’s starting my blog, and learning how to make money with it.
Since learning how to monetize a blog over 10 years ago, I have now earned over $5,000,000 from my site. This is still hard for me to believe, and I’m the one who’s lived it!
In the beginning, all I was doing was tracking my own personal finance progress as I finished school and started paying off my student loans. Blogging was a very new concept to me at the time – I heard about it from a magazine – and people were just learning how to monetize blogs back in 2011.
Most bloggers started back then with display ads and sponsored posts, but the options have only increased.
Because of all of the new ways to make money blogging, like affiliate income and selling your own products, you can make somewhat passive income as a blogger.
Passive income is my favorite way to make money because it makes blogging even more flexible and something I can do as I work from home, travel, and work whenever I want.
Blogging has changed my life for the better, and I’m now earning thousands of dollars a month doing something I love.
Learning how to monetize a blog takes work and time, but it’s 100% possible to do. I started earning money after just six months of blogging, and I didn’t even set out to make money when I created Making Sense of Cents. Just think of the potential if you start out knowing that making money blogging is possible!
Starting my blog is one of the best things I’ve ever done for my work, personal, and financial life. And, I urge anyone who is interested to start a blog and learn how to monetize it.
How I earned my first income from blogging
Many of my readers have heard this story, but I love sharing it because I started out like many of you, except I had no idea that blogs could make money. When I started Making Sense in August of 2011, I simply wanted a way to keep track of my financial progress and meet others who had similar goals.
As I started getting to know other bloggers in the community, a blogger friend of mine connected me with an advertiser who was willing to pay me $100 for an advertisement.
I couldn’t believe someone would pay me $100 to advertise on my site!
While it wasn’t a lot of money, especially considering the amount of time and work I put towards my blog in those 6 months, it was very motivating to see that something I loved doing could actually make money.
After that first $100, I started doing a lot of research on how to monetize a blog, and my blogging income quickly grew from there.
One year after I started my blog, I was earning around $1,000 a month, and I was making around $10,000 monthly two years after I started Making Sense of Cents.
My income only continued to grow, and I am still earning a healthy income from this website today.
How To Start A Blog FREE Course
If you want to learn how to monetize a blog and you haven’t started your blog, then I recommend starting with my free blogging course How To Start A Blog FREE Course.
Here’s a quick outline of what you will learn in this free course:
Day 1: Reasons you should start a blog
Day 2: How to determine what to blog about
Day 3: How to create your blog – in this lesson, you will learn how to start a blog on WordPress, and my tutorial makes it very easy to start a blog
Day 4: How to monetize a blog – this is where you learn about the many different ways to make money blogging!
Day 5: My tips for earning passive income from your blog
Day 6: How to grow your traffic and followers
Day 7: Miscellaneous blogging tips that will help you be successful
This is delivered directly to your email inbox, and you will learn how to grow a blog from scratch.
Start with a plan for your blog
Sure, you can start on a whim, and that’s kind of what I did, haha.
But, I do think that creating a plan is a good idea if you want to learn how to monetize a blog. This can help you get an organized start, identify your blog’s niche, decide on your blogging goals, find opportunities for blogging income, and more.
It wasn’t until 2015 that I finally created a blogging plan (that’s 4 years after I started!), and my blog income grew significantly after that.
I credit that growth to creating a plan!
Having a plan would have been a huge help in the beginning, and I wish I would have started with one. I probably missed some income opportunities because I had no real plan or direction in the first couple of years.
Since creating a blogging plan, I became more focused on goals and motivated toward improving and building Making Sense of Cents.
Here are some questions that you may want to ask yourself when creating a plan for your blog:
What will you write about on your blog?
How do you want to make money with your blog?
What will you do to reach readers on your blog?
What are your goals for your blog?
Thinking about, researching, and answering these questions will help guide you on your journey and help you decide what to do next.
Write high-quality and engaging blog posts
Your blog’s content is extremely important. This will be what attracts your readers, has them coming back for more, earns you blogging income, and more.
Now, you don’t need to be an expert or need a degree to start talking about a subject, but you do need to be knowledgeable or interested in what you are talking about. And, always be truthful! This will show in your writing and actually help your readers.
To write high-quality content on your blog, here are some tips:
Figure out exactly what it is that you’d like to write about and why you think the content is important. Being passionate about a subject will give you the motivation to write content that people want to read. Just think about it: If you don’t enjoy writing your content, then why should you expect someone else to want to read it?
Ask your audience what they want you to write about. Many of my best ideas come from expanding on reader questions.
Research your blog topics by reading news articles, going to a library, searching for statistics and interesting facts, and more.
If your blog posts are more personal in nature, then dig deep and share your thoughts, and be personable in your writing – your readers want to hear your story!
Write long, helpful content. Sure, some great content may only be a few hundred words, but to be as helpful as possible, long content is usually the best. My content is usually over 2,000 words, and this article is around 5,000. Now, you don’t want to just write a lot of fluff content in order to get more words in – you want to actually be helpful!
Reread your content. I used to read my content 10 times or more before I would publish it. Now, I have an editor who makes sure I’m always publishing high-quality content.
Network, network, network
If you want to learn how to monetize a blog, then networking can be extremely helpful.
Networking can mean:
Making friends with other bloggers
Attending blogging conferences
Sharing content that other bloggers have written
Following other bloggers in your niche on social media
Signing up for other bloggers’ newsletters
Joining blogging groups on Facebook
Some bloggers don’t do any of these things and purely see other bloggers as competition. I don’t believe this is the correct way to approach blogging because you will hold yourself back immensely!
Networking is important because it can help you enjoy blogging (friends are nice to have, right?!), teach you new ideas (such as how to make money blogging or how to grow a blog), make valuable connections, and more.
Keep in mind that networking is even how I earned my very first $100 blogging. My blogging friend connected me with an advertiser, which helped changed my blogging journey.
I have learned a lot about blogging from the blogging community, and the people I’ve connected with have been a tremendous support as I’ve grown my blog.
Be prepared to put in a lot of hard work
Starting a blog is relatively easy. But, growing and learning how to monetize a blog takes a lot of work.
You’ll have to:
Start a blog, design it, create social media accounts, and more
Write high-quality blog posts
Attract an audience of readers
Monetize your blog
Continue learning about blogging
And more
Even when I was just a new blogger and had no plans of making money blogging, I was still spending well over 10 hours a week on Making Sense of Cents.
When I was working my full-time day job and earning an income from my blog, I was working around 40-50 hours a week on my blog on top of my day job!
Now that I blog full-time, my hours vary. Some months I hardly work, and there are other months that I may work 100 hours a week.
It’s not easy, and there’s always something that needs to be done.
But, I absolutely love blogging, which makes the hard work a little less tough.
How to monetize a blog: 4 different ways
There are many different ways you can monetize your blog, including:
Affiliate marketing
Advertisements and sponsorships
Display advertising
Create your own product, such as an ebook, course, physical or online products, and more
You could choose to monetize your blog using all of these methods, or even just one. It’s just a personal decision.
For me, I like to be diversified and monetize in many ways, so I do them all.
Below, I am going to dive a little deeper into each way to make money blogging.
1. Affiliate marketing
Affiliate marketing can be a great way to make money blogging because if there is a product or company that you enjoy, all you have to do is review the product and share a unique affiliate link where your readers can sign up or make a purchase.
In fact, this is my favorite way to monetize a blog. I enjoy it because it can be quite passive – I can create just one blog post and potentially earn an income from it years later. This is because even though a blog post may be older, I am still constantly driving traffic to it and readers are still purchasing through my affiliate links.
Affiliate marketing is a blog monetization method where you share a link to a product or company with your readers in an attempt to make an income from followers purchasing the product through your link.
Here are some quick tips so that you can make affiliate income on your blog:
Use the Pretty Link plugin tocleanupmessy-lookingaffiliatelinks. I use this for nearly all of my affiliate links because something like “makingsenseofcents.com/bluehost” looks much better than the long, crazy-looking links that affiliate programs usually give you.
Provide real reviews. You should always be honest with your reviews. If there is something you don’t like about a product, either don’t review the product at all or mention the negatives in your review.
Ask for a commission increase. If you are doing well with a particular affiliate program, ask to increase your commissions.
Build a relationship with your affiliate manager. Your affiliate manager can supply your readers with valuable coupons, commission increases, bonuses, and more.
Write tutorials. Readers want to know how they can use a product. Showing them how to use it, how it can benefit them, and more are all very helpful.
Don’t go overboard. There is no need to include an affiliate link 1,000 times in a blog post. Include them at the beginning, middle, and end, and readers will notice it. Perhaps bold it or find another way for it to stand out as well.
You can learn more about affiliate marketing strategies in my course Making Sense of Affiliate Marketing.
2. Advertisements and sponsorships
Advertising on a blog is one of the first ways that bloggers learn how to monetize a blog. In fact, it’s exactly how I started!
This form of blogging income is when you directly partner with a company and advertise for them on your website or social media accounts.
You may be writing a review for them, a tutorial, talking about their product or company, taking pictures, and so on.
If you want to learn how to increase your advertising-income, I recommend taking my Making Sense of Sponsored Posts course.
3. Display advertising
Display advertising is one of the easiest ways to make money blogging, but it most likely won’t earn you the most, especially in the beginning.
I’m sure you’ve seen display ads before. They may be on the sidebar, at the top of a post, within a blog post, and so on.
The ads are automatically added when you join an advertising network, and you do not need to manually add these ads to your blog.
Your display advertising income increases or decreases almost entirely based on your page views, and once you place the advertisement, there’s no direct work to be done.
If you want to learn how to monetize a blog through display advertising, then some popular networks include Adsense, MediaVine, and AdThrive.
Personally, I use AdThrive for my display advertising network. I don’t have many display advertisements on my blog, but it is easy income.
4. Sell your own products
Another popular way to monetize a blog is to create a sell your own products.
This could be an online product, something that you ship, and so on, such as:
An online course
A coaching program
An eBook
Printables
Memberships
Clothing, candles, artwork, hard copy books, and anything else you can think of
And the list goes on and on. I have seen bloggers be very successful in selling all kinds of things on their blogs.
What’s great about selling your own product is that you are in complete control of what you are selling, and your income is virtually unlimited in many cases.
I launched my first product about 5 years after I created Making Sense of Cents, which was a blogging course called Making Sense of Affiliate Marketing. I regret not creating something sooner because this has been an excellent source of income and has helped many people along the way.
Have an email list
If you really want to learn how to monetize a blog, I recommend that you start an email list from the very beginning.
I waited several years to start my email list, and that was a huge mistake!
Here’s why you need an email list right away:
Your newsletter is YOURS. Unlike social media sites, your newsletter and email subscribers are all yours, and you have their undivided attention. You don’t have to worry about algorithms not displaying your content to readers, and this is because they are your email subscribers. You aren’t fighting with anyone else to have them see your content.
The money is in your email list. I believe that email newsletters are the best way to promote an affiliate product. Your email subscribers signed up to hear what YOU have to write about, so you clearly have their full attention. Your email list, over any other promotional strategy, will almost always lead to more income and sales.
Your email subscribers are loyal to you. If someone is allowing you to show up in their inbox whenever you want, then they probably trust what you have to say and enjoy listening to you. This is a great way to grow an audience and a loyal one at that.
Email is a great way to deliver other forms of content. With Convertkit, I am able to easily create free email courses that are automatically sent to my subscribers. Once a reader signs up, Convertkit sends out all the information they need in whatever time frame I choose to deliver the content.
Attract readers
As a new blogger, you’ll want to find ways to attract a readership to your blog and your article.
No, you don’t need millions and millions of page views to earn a good living from blogging. In fact, I know some bloggers who receive 1,000,000 page views yet make less money than those with 100,000 monthly page views.
Every website is different, but once you learn what your audience wants, you can start to really make money blogging, regardless of how many page views you receive.
Having a successful blog is all about having a loyal audience and helping them with your content.
Even with all of that being said, if you want to learn how to monetize a blog, learning how to improve your traffic is valuable. The more loyal and engaged followers you have, the more money you may be able to make through your blog.
There are many ways to grow your readership, such as:
Write high-quality articles. Your blog posts should always be high-quality and helpful, and it means readers will want to come back for more.
Find social media sites to be active on. There are many social media platforms you can be active on, such as Pinterest, Facebook, Twitter, Instagram, TikTok, Youtube, and others.
Regularly share new posts. For most blogs, you should publish content at least once a week. Readers may forget about you if you go for weeks or months at a time without a blog post.
Guest post. Guest posting is a great way to reach a new audience, as it can bring new readers to your blog who will potentially subscribe to it.
Make sure it’s easy to share your content. I love sharing posts on social media. However, it gets frustrating when some blogs make it more difficult than it needs to be. You should always make sure it’s easy for readers to share your content, which means your social media icons should be easy to find, all of the info input and ready for sharing (title, link, and your username tagged), and so on. Also, you should make sure that when someone clicks on one of your sharing icons the title isn’t in CAPS (I’ve seen this too many times!).
Write better titles. The title of your post can either bring readers to you or deter them from clicking over. A great free tool to write better headlines is CoSchedule’s Headline tool.
Apply SEO strategies. SEO (search engine optimization) is not something I can teach in this small section, but I go over it below in another section.
Have a clean and user-friendly blog design. If you want more page views, you should make it as easy as possible for readers to navigate your blog. It should be easy for readers to find your blog homepage, search bar, blog posts, and so on.
Now, I also want to talk about helpful resources, courses, and more that can help you to learn how to grow your page views on your blog.
Below are some of my favorite blogging resources to help you improve your traffic:
Grow through SEO
SEO (search engine optimization) is how you get organic search traffic to your blog.
When you search a phrase on Google, you’ll see a bunch of different websites as the results. This is the result of these websites applying SEO strategies to their blog.
This is a great way for readers to find your blog, and SEO is important to pay attention to as you learn how to monetize a blog!
Below are some of my favorite SEO resources:
Stupid Simple SEO: This is my favorite overall SEO course, and one of the most popular for bloggers. I highly recommend taking it. I have gone through the whole course, and I constantly refer back to it.
Easy On-Page SEO: This is an easy-to-follow approach to learning on-page SEO so your articles can rank on Google. I have read this ebook twice, and it is super helpful.
Easy Backlinks for SEO: This ebook will show you 31 different ways to build backlinks, which are needed for SEO.
How To Get 50,000 Pageviews per Month With Keyword Research: This ebook shares the steps for keyword research so that you can get SEO traffic to your website.
Common questions about how to monetize a blog
Below, I’m going to answer some questions I’ve received about how to start a blog such as:
How many views do you need to monetize a blog?
How do beginner bloggers make money?
Why do bloggers fail?
How many posts should I have before I launch my blog?
How many times a week should I post on my blog?
How many views do you need to monetize a blog?
The amount of page views needed to make money blogging varies, and there is no magic number that you should be aiming for.
This is because it depends on so many factors, such as how you will monetize your blog, your niche, the number of email subscribers you have, the quality of your website, and more.
You may see success with 10,000 page views a month, or you may see success with over 100,000 page views a month. It simply depends on the factors above.
How do beginner bloggers make money?
Beginner bloggers can make money in many different ways, such as display advertising, affiliate marketing, creating their own products, and sponsorships.
You can start any of these right from the very beginning.
Display advertising is usually the easiest way to begin monetizing a blog, but the payoff is not very high, especially in the beginning when your page views are not high.
How many posts should I have before I launch my blog?
I recommend just launching your blog as soon as you have one blog post and a design. Building a huge backlog of blog posts isn’t usually needed, and it can prevent you from ever getting started!
How many times a week should I post on my blog?
The more blog posts you have, then the more traffic you may get. That’s because it’s more opportunities to show up in Google searches or share your posts on social media.
I recommend publishing a new blog post at least once a week. Anything less isn’t advised.
Publishing blog posts consistently is smart because readers know to expect regular content from you.
Why do bloggers fail?
Bloggers fail for many different reasons. These reasons may include:
Giving up too soon. It takes time to make money blogging, and sadly, many people give up just a few months into starting a blog.
Not publishing consistently. I recommend publishing content at least once a week, as described in the previous section. Some new bloggers may go months without publishing, and this will take them much longer to make money blogging as they are simply not dedicating enough time to their blog.
Not spending enough time learning about blogging. Blogging is not as easy as you may think. There is a lot to learn in order to make it work. You may need to learn about how to grow your blog’s traffic, how to monetize a blog, how to write high-quality content, and more.
Not having your own domain and self-hosting. If you want to make money blogging, I highly recommend owning your domain name and being self-hosted. The longer you put this easy step off, the longer it will most likely take for you to make money blogging. You can learn more at How To Start a WordPress Blog.
And much more. Blogging is like any business – there are things to learn, things to improve on, and more.
How do I start a blog?
If you have any other questions related to starting a blog, I recommend checking out What Is A Blog, How Do Blogs Make Money, & More. In this article, I answer more questions related to blogging such as:
How do I come up with a blog name?
What blogs make the most money?
How do you design a blog?
How many views do you need to make money blogging?
How many blog posts should I have before launching?