Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews.
Mortgage rates started the week relatively low, but they’re back up today.
Average 30-year mortgage rates are around 20 basis points up from where they were earlier this week, and are now in the upper 6% range, according to Zillow data.
Mortgage rates are expected to go down in 2024, but they’ve been elevated so far this year in response to still-high inflation.
Price growth has slowed significantly from when it peaked in 2022, but it’s still above the Federal Reserve’s target rate of 2%. In February, the Consumer Price Index actually inched up a bit from the previous month.
Because the path to lower inflation is proving to be a bit bumpy, we’ll likely need to wait a few more months until mortgage rates fall. And if inflation continues to stagnate, we might not see rates drop until much later in the year.
Mortgage Rates Today
Mortgage type
Average rate today
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Mortgage Refinance Rates Today
Mortgage type
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Mortgage Calculator
Use our free mortgage calculator to see how today’s interest rates will affect your monthly payments.
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
By clicking on “More details,” you’ll also see how much you’ll pay over the entire length of your mortgage, including how much goes toward the principal vs. interest.
30-Year Fixed Mortgage Rates
This week’s average 30-year fixed mortgage rate was 6.74%, according to Freddie Mac. This is a 14-basis-point decrease from the previous week.
The 30-year fixed-rate mortgage is the most common type of home loan. With this type of mortgage, you’ll pay back what you borrowed over 30 years, and your interest rate won’t change for the life of the loan.
The lengthy 30-year term allows you to spread out your payments over a long period of time, meaning you can keep your monthly payments lower and more manageable. The trade-off is that you’ll have a higher rate than you would with shorter terms or adjustable rates.
15-Year Fixed Mortgage Rates
Average 15-year mortgage rates inched down to 6.16% this week, according to Freddie Mac data. This is a six-point decrease since the week before.
If you want the predictability that comes with a fixed rate but are looking to spend less on interest over the life of your loan, a 15-year fixed-rate mortgage might be a good fit for you. Because these terms are shorter and have lower rates than 30-year fixed-rate mortgages, you could potentially save tens of thousands of dollars in interest. However, you’ll have a higher monthly payment than you would with a longer term.
How Do Fed Rate Hikes Affect Mortgages?
The Federal Reserve has increased the federal funds rate dramatically to try to slow economic growth and get inflation under control. So far, inflation has slowed significantly, but it’s still a bit above the Fed’s 2% target rate.
Mortgage rates aren’t directly impacted by changes to the federal funds rate, but they often trend up or down ahead of Fed policy moves. This is because mortgage rates change based on investor demand for mortgage-backed securities, and this demand is often impacted by how investors expect Fed hikes to affect the broader economy.
The Fed has indicated that it’s likely done hiking rates and that it could start cutting soon. This will likely allow mortgage rates to trend down later this year.
When Will Mortgage Rates Go Down?
Mortgage rates increased dramatically over the last two years, but they’ve moderated somewhat in recent months, and are expected to drop further this year.
In February 2024, the Consumer Price Index rose 3.2% year-over-year. Inflation has slowed significantly since it peaked last year, which is good news for mortgage rates. But it has to slow further before rates will begin to fall.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews.
Mortgage rates fell late last week, and they remain low today. Average 30-year mortgage rates have generally been hovering in the 6.30% to 6.40% range this week, according to Zillow data. This is a significant drop from the start of the month, when rates were above 6.60%.
Where mortgage rates go next depends on the economy. Though the latest data suggests that the economy is slowly coming into better balance, any hotter-than-expected reports could cause rates to spike like they did in February.
As long as inflation continues to slow and the labor market doesn’t heat back up, mortgage rates should go down in 2024.
Mortgage rates have remained elevated so far this year as markets have had to adjust their expectations of when the Federal Reserve might finally start cutting the federal funds rate. Right now, investors are pricing in a nearly 60% probability that the Fed will cut this rate by 25 basis points at its June meeting, according to the CME FedWatch Tool.
This means that we could see mortgage rates inch down just ahead of the summer months. But they may not be substantially lower until we get closer to the end of the year.
Today’s mortgage rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Today’s refinance rates
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Mortgage Calculator
Use our free mortgage calculator to see how today’s interest rates will affect your monthly payments:
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
By clicking on “More details,” you’ll also see how much you’ll pay over the entire length of your mortgage, including how much goes toward the principal vs. interest.
Mortgage Rate Projection for 2024
Mortgage rates started ticking up from historic lows in the second half of 2021 and increased dramatically in 2022 and throughout most of 2023.
Many forecasts expect rates to fall this year now that inflation has been coming down. In the last 12 months, the Consumer Price Index rose by 3.1%, a significant slowdown compared when it peaked at 9.1% in 2022. But we’ll likely need to see more slowing before rates can drop substantially.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of our best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
When Will House Prices Come Down?
We aren’t likely to see home prices drop this year. In fact, they’ll probably rise.
Fannie Mae researchers expect prices to increase 3.20% in 2024 and 0.30% in 2025, while the Mortgage Bankers Association expects a 4.10% increase in 2024 and a 3.30% increase in 2024.
Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. But rates have since eased, removing some of that pressure. The current supply of homes is also historically low, which will likely push prices up.
What Happens to House Prices in a Recession?
House prices usually drop during a recession, but not always. When it does happen, it’s generally because fewer people can afford to purchase homes, and the low demand forces sellers to lower their prices.
How Much Mortgage Can I Afford?
A mortgage calculator can help you determine how much house you can afford. Play around with different home prices and down payment amounts to see how much your monthly payment could be, and think about how that fits in with your overall budget.
Typically, experts recommend spending no more than 28% of your gross monthly income on housing expenses. This means your entire monthly mortgage payment, including taxes and insurance, shouldn’t exceed 28% of your pre-tax monthly income.
The lower your rate, the more you’ll be able to borrow, so shop around and get preapproved with multiple mortgage lenders to see who can offer you the best rate. But remember not to borrow more than what your budget can comfortably handle.
Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate mortgages to write unbiased product reviews.
Mortgage rates initially ticked up a little bit following the release of Tuesday’s slightly hotter-than-expected Consumer Price Index data. But they’ve since trended back down and remain well below last month’s levels. Rates are still expected to go down this year.
Last month, average 30-year mortgage rates rose to 6.52%. So far this month, they’ve been trending a bit lower, and they could drop below 6% by the end of the year, according to Fannie Mae’s latest forecast.
But mortgage rates probably won’t drop substantially until we get more data showing that inflation is continuing to slow.
In February, prices rose 3.2% year over year, according to the Bureau of Labor Statistics. This is a slight uptick from the previous month, which showed prices rising 3.1% on an annual basis.
Federal Reserve officials want to see more data that inflation is coming down before they start lowering the federal funds rate. Once we get closer to a likely Fed cut, mortgage rates should start to fall.
Right now, investors still believe the Fed could start cutting rates as soon as June, according to the CME FedWatch Tool. So we could see mortgage rates go down in just a few months.
Mortgage Rates Today
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Mortgage Refinance Rates Today
Mortgage type
Average rate today
This information has been provided by
Zillow. See more
mortgage rates on Zillow
Real Estate on Zillow
Mortgage Calculator
Use our free mortgage calculator to see how today’s mortgage rates will affect your monthly and long-term payments.
Mortgage Calculator
$1,161 Your estimated monthly payment
Total paid$418,177
Principal paid$275,520
Interest paid$42,657
Paying a 25% higher down payment would save you $8,916.08 on interest charges
Lowering the interest rate by 1% would save you $51,562.03
Paying an additional $500 each month would reduce the loan length by 146 months
By plugging in different term lengths and interest rates, you’ll see how your monthly payment could change.
Mortgage Rate Projection for 2024
Mortgage rates increased dramatically for most of 2023, though they started trending back down in the final months of the year. As the economy continues to normalize this year, rates should come down even further.
In the last 12 months, the Consumer Price Index rose by 3.2%, a significant slowdown compared to when it peaked at 9.1% in 2022. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.
For homeowners looking to leverage their home’s value to cover a big purchase — such as a home renovation — a home equity line of credit (HELOC) may be a good option while we wait for mortgage rates to ease. Check out some of the best HELOC lenders to start your search for the right loan for you.
A HELOC is a line of credit that lets you borrow against the equity in your home. It works similarly to a credit card in that you borrow what you need rather than getting the full amount you’re borrowing in a lump sum. It also lets you tap into the money you have in your home without replacing your entire mortgage, like you’d do with a cash-out refinance.
Current HELOC rates are relatively low compared to other loan options, including credit cards and personal loans.
When Will House Prices Come Down?
We aren’t likely to see home prices drop anytime soon thanks to extremely limited supply. In fact, they’ll likely rise this year as mortgage rates drop.
Fannie Mae researchers expect prices to increase 3.2% in 2024, while the Mortgage Bankers Association expects a 4.1% increase in 2024.
Lower mortgage rates will bring more buyers onto the market, putting upward pressure on prices. But prices aren’t currently expected to increase as much as they have in recent years.
Fixed-Rate vs. Adjustable-Rate Mortgage Pros and Cons
Fixed-rate mortgages lock in your rate for the entire life of your loan. Adjustable-rate mortgages lock in your rate for the first few years, then your rate goes up or down periodically.
So how do you choose between a fixed-rate vs. adjustable-rate mortgage?
ARMs typically start with lower rates than fixed-rate mortgages, but ARM rates can go up once your initial introductory period is over. If you plan on moving or refinancing before the rate adjusts, an ARM could be a good deal. But keep in mind that a change in circumstances could prevent you from doing these things, so it’s a good idea to think about whether your budget could handle a higher monthly payment.
Fixed-rate mortgage are a good choice for borrowers who want stability, since your monthly principal and interest payments won’t change throughout the life of the loan (though your mortgage payment could increase if your taxes or insurance go up).
But in exchange for this stability, you’ll take on a higher rate. This might seem like a bad deal right now, but if rates increase further down the road, you might be glad to have a rate locked in. And if rates trend down, you may be able to refinance to snag a lower rate
How Does an Adjustable-Rate Mortgage Work?
Adjustable-rate mortgages start with an introductory period where your rate will remain fixed for a certain period of time. Once that period is up, it will begin to adjust periodically — typically once per year or once every six months.
How much your rate will change depends on the index that the ARM uses and the margin set by the lender. Lenders choose the index that their ARMs use, and this rate can trend up or down depending on current market conditions.
The margin is the amount of interest a lender charges on top of the index. You should shop around with multiple lenders to see which one offers the lowest margin.
ARMs also come with limits on how much they can change and how high they can go. For example, an ARM might be limited to a 2% increase or decrease every time it adjusts, with a maximum rate of 8%.
Refinancing your mortgage, or replacing your existing home loan with a new one, can lower your interest rate and monthly payments or even get you extra cash from the equity in your home.
Not all homeowners are approved for refinancing, though. With home prices and interest rates still high, lenders are careful about who they approve. The rejection rate on mortgage refinance applications increased to 15.5% in 2023 from 9.9% in 2022, according to the Federal Reserve Bank of New York.
If you’ve been turned down, you still have options for refinancing — and ways to improve your chances next time.
What we’ll cover
Compare offers to find the best mortgage
Common reasons mortgage refinancing is rejected
Lenders rely on federal underwriting guidelines from Fannie Mae and Freddie Mac when deciding whether to approve a refinancing application. Some issues are easier for borrowers to address than others.
High debt-to-income ratio
How much of your money is tied up in paying off debts isa major factor in getting approved for refinancing. Your debt-to-income (DTI) ratio is determined by dividing your total monthly debts (including your current mortgage) by your gross monthly income.
A DTI of 35% or less is ideal, according to Experian, although lenders typically will consider a ratio up to 43% for refinancing a conventional mortgage, depending on how strong the rest of their application is.
Low credit score
A credit score of at least 620 is usually needed to secure refinancing, although you may be able to get FHA cash-out refinancing with a score in the 500s.
Low home appraisal
An appraisal of your home’s fair market value ensures it hasn’t significantly depreciated, especially to the point that it’s worth less than what you owe (known as an “underwater mortgage”).
If the appraisal indicates your home is in poor condition or has renovations that are not up to code, it could also lead to being turned down.
Not enough home equity
The amount of your home that you own outright is known as home equity. If you put 5% of the cost of the property as a down payment, you’re starting with 5% home equity. That amount increases as you make mortgage payments and as the home’s value increases. You typically need to own at least 20% of your home outright to refinance your mortgage.
Employment history
According toFannie Mae’s underwriting guidelines,lenders look at an applicant’s career history and income over several years. Ideally, they want to see at least two years at your current job, but you probably won’t have to worry about a promotion or a better-paying job in the same industry. A consistent income is the key.
Taking a lesser role or lower-paying job and lengthy gaps in employment are more serious red flags, as is changing jobs in the middle of the application process. However, you can always try to explain your circumstances to your lender.
What to do if you’ve been rejected for refinancing
Find out why you were denied
Lenders are legally required to explain why you’ve been turned down. Find out the reason (or reasons) and if possible, make any necessary changes so you’ll be approved next time.
Shop for another lender
You may need a lender that is willing to accept a lower credit score. Rocket Mortgage works with applicants with scores as low as 580, rather than the 620 required by most lenders.
Rocket Mortgage Refinance
Annual Percentage Rate (APR)
Apply online for personalized rates
Types of loans
Conventional loans, FHA loans, VA Interest Rate Reduction Refinance Loan (IRRRL) and jumbo loans
Fixed-rate Terms
8 – 29 years
Adjustable-rate Terms
Not disclosed
Credit needed
580 if opting for FHA loan refinance or VA IRRRL; 620 for a conventional loan refinance
Already have a mortgage through Rocket Mortgage or looking to start one? Check out the Rocket Visa Signature Card to learn how you can earn rewards
Ally Bank offers cash-out refinances for conventional and jumbo loans, allowing homeowners to convert their home equity into cash and take out a loan that’s larger than their current mortgage. Ally doesn’t charge application, origination or processing fees and its website has a refinance calculator that provides customized rates without affecting your credit score.
Ally Home
Annual Percentage Rate (APR)
Apply online for personalized rates; fixed-rate and adjustable-rate mortgages included
Types of loans
Fixed-rate, adjustable-rate and jumbo loans available
Fixed-rate Terms
15 – 30 years
Adjustable-rate Terms
5/6 ARM, 7/6 ARM, 10/6 ARM
Credit needed
Not disclosed
Terms apply.
Pay down your existing mortgage
If you didn’t put 20% down when you bought your home, you may need to pay off another chunk of your mortgage before you’re able to secure refinancing.
Work on your credit
If your credit is the problem, take some time off to raise your score. Focus on making on-time bill payments and lowering your credit utilization ratio, or the amount of available credit you’re using. Avoid opening or closing any lines of credit and check your credit reports for any errors.
Experian Boost™ is a free way to improve your credit score. It links utility, phone and streaming service payments to your Experian credit report and uses the You’ll get an updated FICO® score delivered to you in real-time.
Experian Boost™
On Experian’s secure site
Cost
Average credit score increase
13 points, though results vary
Credit report affected
Experian®
Credit scoring model used
FICO® Score
Results will vary. See website for details.
How long should I wait before applying again?
Technically, you can reapply right away, but each application requires a hard credit check, which temporarily lowers your FICO score. So, consider why you were rejected first — if your credit score was too low or you don’t have enough home equity, address the issue before applying again.
If you were turned down because of a recent job change, you may have to wait up to two years to reapply.
How to lower your mortgage payments without refinancing
Whether it’s because you’ve been denied or the rates are still too high, refinancing might not be an option. Fortunately, there are ways you can lower your mortgage payment without refinancing.
Get rid of mortgage insurance
If you have a conventional mortgage, your lender will automatically cancel PMI when you reach 22% equity. You might be able to request cancelation once your equity reaches 20%.
Recast your mortgage
Some lenders will allow you to make a large lump-sum payment toward your principal balance and then re-amortize your loan. The terms remain the same when you recast your mortgage, but the lower balance means smaller monthly payments and an overall decrease in the amount you’ll pay in interest.
Request a loan modification
If you’re facing financial hardship, you can ask to change the terms of your mortgage permanently to help you avoid foreclosure. You can also request a forbearance to temporarily reduce or pause your mortgage, but you’ll eventually have to repay the late or suspended payments.
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FAQ
What is mortgage refinancing?
Refinancing your mortgage is when you replace your existing home loan with a new one, typically to get a lower interest rate.
How much does it cost to refinance a mortgage?
Depending on the lender, there are several fees associated with refinancing, usually 3% to 6% of the loan. Freddie Mac suggests putting aside $5,000 for refinancing closing costs
Can I lower my mortgage payments without refinancing?
Bottom Line
An applicant can be denied refinancing for various reasons, from a low credit score to a new job. If you know why you were turned down, you can work on the problem and reapply.
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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Everymortgage article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge ofproducts. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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*Results will vary. Not all payments are boost-eligible. Some users may not receive an improved score or approval odds. Not all lenders use Experian credit files, and not all lenders use scores impacted by Experian Boost™. Learn more.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
Benchmarking a 401(k) retirement plan refers to how a company assesses their plan’s design, fees, and services to ensure they meet industry and ERISA (Employee Retirement Income Security Act) standards.
Benchmarking 401(k) plans is important for a few reasons. First, the company offering the plan needs to be confident that they are acting in the best interests of employees who participate in the 401(k) plan. And because acting in the best interests of plan participants is part of an employer’s fiduciary duty, benchmarking can help reduce an employer’s liability if fiduciary standards aren’t met.
If a company’s plan isn’t meeting industry benchmarks, it may be wise for an employer to change plan providers. Learn more about how benchmarking works and why it’s important.
How 401(k) Benchmarking Works
While a 401(k) is a convenient and popular way for participants to invest for retirement, the company offering the plan has many responsibilities to make sure that its plan is competitive. That is where 401(k) benchmarking comes into play.
An annual checkup is typically performed whereby a company assesses its plan’s design, evaluates fees, and reviews all the services offered by the plan provider. The 401(k) plan benchmarking process helps ensure that the retirement plan reduces the risk of violating ERISA rules. For the firm, a yearly review can help reduce an employer’s liability and it can save the firm money.
ERISA, the Employee Retirement Income Security Act, requires that the plan sponsor verifies that the 401(k) plan has reasonable fees. ERISA is a federal law that mandates minimum standards that retirement plans must meet. It helps protect plan participants and beneficiaries. 💡 Quick Tip: The advantage of opening a Roth IRA and a tax-deferred account like a 401(k) or traditional IRA is that by the time you retire, you’ll have tax-free income from your Roth, and taxable income from the tax-deferred account. This can help with tax planning.
The Importance of 401(k) Plan Benchmarking
It is important that an employer keep its 401(k) plan up to today’s standards. Making sure the plan is optimal compared to industry averages is a key piece of retirement benchmarking. It’s also imperative that your employees have a quality plan to help them save and invest for retirement. Most retirement plan sponsors conduct some form of benchmarking planning, and making that a regular event — such as annually — is important so that the employer continuously complies with ERISA guidelines.
Employers have a fiduciary responsibility to ensure that fees are reasonable for services provided. ERISA also states that the primary responsibility of the plan fiduciaries is to act in the best interest of their plan participants. 401(k) benchmarking facilitates the due diligence process and reduces a firm’s liability.
How to Benchmark Your 401(k) Plan: 3 Steps
So, as an employer, how exactly do you go about benchmarking 401(k) plans? There are three key steps that plan sponsors should take so that their liability is reduced, and the employees get the best service for their money. Moreover, 401(k) benchmarking can help improve your service provider to make your plan better.
1. Assess Your 401(k) Plan Design
It’s hard to know if your retirement plan’s design is optimal. Two gauges used to figure its quality are plan asset growth and the average account balance. If workers are continuously contributing and investments are performing adequately compared to market indexes, then those are signs that the plan is well designed.
Benchmarking can also help assess if a Roth 401(k) feature should be added. Another plan feature might be to adjust the company matching contribution or vesting schedule. Optimizing these pieces of the plan can help retain workers while meeting ERISA requirements.
2. Evaluate Your 401(k) Plan Fees
A 401(k) plan has investment, administrative, and transaction fees. Benchmarking 401k plan fees helps ensure total costs are reasonable. It can be useful to take an “all-in” approach when assessing plan fees. That method can better compare service providers since different providers might have different terms for various fees. But simply selecting the cheapest plan does not account for the quality and depth of services a plan renders. Additional benchmarking is needed to gauge a retirement plan’s quality. Here are the three primary types of 401(k) plan fees to assess:
• Administrative: Fees related to customer service, recordkeeping, and any legal services.
• Investment: Amounts charged to plan participants and expenses related to investment funds.
• Transaction: Fees involved with money movements such as loans, withdrawals, and advisory costs.
3. Evaluate Your 401(k) Provider’s Services
There are many variables to analyze when it comes to 401(k) benchmarking of services. A lot can depend on what your employees prefer. Reviewing the sponsor’s service model, technology, and execution of duties is important.
Also, think about it from the point of view of the plan participants: Is there good customer service available? What about the quality of investment guidance? Evaluating services is a key piece of 401(k) plan benchmarking. A solid service offering helps employees make the most out of investing in a 401(k) account. 💡 Quick Tip: Investment fees are assessed in different ways, including trading costs, account management fees, and possibly broker commissions. When you set up an investment account, be sure to get the exact breakdown of your “all-in costs” so you know what you’re paying.
Investing for Retirement With SoFi
Investing for retirement is more important than ever as individuals live longer and pension plans are becoming a relic of the past. With today’s technology, and clear rules outlined by ERISA, it can be easier for workers to take advantage of high-quality 401(k) plans to help them save and invest for the long term.
For the company offering the plan, establishing a retirement benchmarking process is crucial to keeping pace with the best 401(k) plans. Reviewing a plan’s design, costs, and services helps workers have confidence that their employer is working in their best interests. Benchmarking can also protect employers.
If your company already has a 401(k) plan that you contribute to as an employee, you might also consider other ways to invest for retirement. You can learn more about various options available, such as IRAs. There are different types of IRAs, including traditional and Roth IRAs. You may want to explore them to see which might be best to help you reach your retirement savings goals.
Ready to invest for your retirement? It’s easy to get started when you open a traditional or Roth IRA with SoFi. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
Help grow your nest egg with a SoFi IRA.
FAQ
How often should a 401(k) be benchmarked?
It’s considered a best practice to benchmark a 401(k) annually to make sure the plan complies with ERISA guidelines. Making sure that the plan’s fees are reasonable and acting in the best interests of plan participants is part of an employer’s fiduciary duty. Benchmarking facilitates the due diligence process and reduces an employer’s liability if fiduciary standards aren’t met.
How do I benchmark my 401(k) fees?
To benchmark your 401(k) fees, take an “all-in” approach by calculating the service provider fees plus the investment expenses for the plan. This helps you compare your plan’s fees to fees charged by other service providers. In addition, assess the plan’s quality by looking at administrative fees (fees related to customer service and recordkeeping, for instance), investment fees (expenses related to investment funds and amounts charged to participants in the plan), and transaction fees (fees related to moving money, such as withdrawals or loans).
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SoFi Invest® INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Inside: Learn how to land lucrative paid house sitting gigs. From crafting a standout application to negotiating pay, our guide covers everything you need for success as a house and pet sitter. Get your first housesitting job now.
For those seeking a unique way to trim their living expenses and swell their savings account—or perhaps even add a fresh stream of income—the fascinating world of house sitting beckons.
Imagine the possibilities of a life where you not only dodge the relentless outpour of cash for rent but also have the potential to get paid for simply residing in and caring for someone else’s home. House sitting has forged a pathway for individuals from all walks of life to dramatically cut their cost of living while introducing opportunities for financial gain, tailored to a lifestyle that champions both mobility and flexibility.
This is something I cannot wait to start doing myself as an early retiree!
In the era of remote work and digital nomadism, the housesitting lifestyle dovetails perfectly with the capacity to earn money from anywhere.
Rather than a stint of In a world where the cost of living is perpetually rising, this is a simple solution. Plus it is an increasingly popular reality for savvy individuals looking to slash their living expenses and enhance their income streams.
Now, let’s dig into how to get paid to house sit.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
The Basics of House Sitting for Income
House sitting for income can be a practical way to earn extra money by caring for someone’s home while they’re away.
A house sitter can earn money by taking on paid assignments to care for someone’s home, which often includes responsibilities like watering plants, feeding pets, and maintaining the property’s general upkeep.
Additionally, house sitters may supplement their income by engaging in flexible online work or other jobs that allow them to take advantage of the rent-free living situation provided by house sitting opportunities.
This is a simple way to make money.
Is House Sitting the Right Gig for You?
This will vary from person to person.
Typically, if you have a love for adventure and live a simplistic life, this could be the perfect side hustle for you.
You can make money while not paying to travel the world and not pay rent. Plus you can work another side hustle or full time job at the same time.
What if you could use your housesitting gig to see the world?
Can you picture yourself waking up to a sunrise over the Tuscan hills, or enjoying a peaceful afternoon in a cozy cottage in the Cotswolds, all without the cost of accommodation eating into your budget?
This fantasy can be your reality through a unique travel approach: house sitting while exploring the globe.
House sitting opens doors to experiences far beyond those of a typical tourist. When stepping into the life of a local, you not only enjoy the comforts of a home but also immerse yourself in the local culture, customs, and way of life—something you can’t put a price tag on.
Yes, please. Sign me up!
House Sit Match
A trusted network for house sitters, pet sitters, house owners, and pet owners.
Our dedicated Free live-in house sitters ensure pets stay safe and happy at home, granting owners peace of mind while they travel.
Check It Out
How do I become a house sitter?
Becoming a professional house sitter starts with the right mindset and preparation. To embark on this exciting venture, follow a systematic approach to gain trust, experience, and create opportunities that could lead to paid gigs.
Here’s a quick guide to set you on your path:
Self-Assessment: Evaluate if the lifestyle suits you. Comfort with travel, adaptability, and responsibility are key.
Research: Learn about the expectations and requirements of the job by engaging with existing house sitters or homeowners.
References: Start with house sitting for friends or family to garner initial references and practical experience.
Online Presence: Sign up for reputable house sitting websites and create a compelling profile that highlights your unique offering.
Reviews: Ask for reviews on each of your housesitting gigs to build up your portfolio.
Stay Booked: If you are consistently booked, then repeat homeowners will reach out sooner to book your services.
By taking these steps, you’re well on your way to securing your first gig as a house sitter and potentially turning it into a rewarding path to see the world.
Setting Yourself up for Success to House Sit
Gain Experience and Build Credibility
Embarking on a journey in house sitting may feel like a daunting task at first, especially when experience seems like a prerequisite to getting started. Yet, remember every expert was once a beginner.
Follow these tips to gain experience and build a rock-solid credibility:
Volunteer: Offer to house sit for friends, family, or colleagues to gather firsthand experience and positive testimonials.
Document Everything: Keep a record of your sits, including photos and detailed notes, to showcase your experience to future clients.
Ask for Reviews: After each sit, ask the homeowner for a review that you can use on housesitting platforms or your personal website.
Improve Continuously: Each house sit is a learning experience. Take feedback seriously and work to enhance your service.
Join a Community: Engage with other house sitters online or in person to exchange tips, seek advice, and stay motivated.
Remember, each home cared for and each pet pampered brings you one step closer to becoming a seasoned and sought-after house sitter.
Creating an Impressive House Sitting Profile
First impressions count tremendously, and in the world of house sitting, your profile is your digital handshake.
A stellar profile not only introduces you to potential clients, but it also demonstrates your professionalism and suitability for house sitting opportunities.
Include clear information about your past house-sitting jobs, mentioning the names of the homeowners (with their permission), specific locations, and the range of responsibilities you held during each assignment.
Emphasize specific house-sitting skills that you excel in, such as high-level cleaning capabilities or exceptional resourcefulness in unexpected situations.
Highlight any certifications that enhance your qualifications for house-sitting, particularly those that resonate with pet owners, like pet CPR or first-aid certifications.
If you have experience in managing household emergencies, stress situations, or particular types of pets, ensure this is prominently noted.
House sitting as a full-time lifestyle
Whether you’re a digital nomad, in between jobs or studies, retired, or simply looking for a break from the norm, long stay house sitting could be for you.
Make money and travel the world. Sounds like a good deal, right?
Get Started
Finding Opportunities for Paid House Sitting
Utilize Specialized House Sitting Directories
Exploring specialized housesitting directories can be your gateway to a myriad of housesitting opportunities. Here’s how you can make these directories work for you:
TrustedHousesitters: Get connected with homeowners across the globe and enjoy perks like a 24/7 vet advice line and insurance guarantees.
House Sitters America: An affordable platform offering a user-friendly interface and a variety of features for people seeking house sitting jobs across the U.S., with an annual fee of just $30.
House Sit Match: Offers an international platform where members can create personal profiles with videos, search and apply for a variety of house sitting services across different countries, and secure arrangements with legally approved contracts.
MindMyHouse: Access a global database where you can apply to house sits and finalize details with secure forms provided on the site.
HouseCarers: Navigate assignments with ease and get alerts for opportunities that match your preferences.
Luxury House Sitting: The opportunity to stay in exquisite homes and care for pets while exploring local culture and making new friends, all for a nominal yearly membership fee.
Build a robust profile on these directories, illustrating your experience, skills, and even why homeowners should trust you with their precious homes and pets.
House Sit Match
A trusted network for house sitters, pet sitters, house owners, and pet owners.
Our dedicated Free live-in house sitters ensure pets stay safe and happy at home, granting owners peace of mind while they travel.
Check It Out
Leverage Social Media and Networking
Social media and networking are vital cogs in the wheel of modern housesitting success. Make sure to have a solid strategy in place to enhance your visibility and connect you with the right opportunities.
Create a Professional Image: Establish a dedicated Facebook page or Instagram profile showcasing your housesitting adventures and testimonials.
Networking Events: Join home and pet owner meetups to discuss your services and share stories.
Engage with Communities: Participate in forums and groups related to house sitting, pets, and travel to position yourself as a knowledgeable and reliable sitter.
Word of Mouth: Encourage clients to share your services digitally—from a simple share of your profile to tagging you in a post about their great experience.
Collaborations: Team up with pet-related or travel influencers for your mutual benefit. They spread the word about your services, and you provide content and insights for their platforms.
Remember to be genuine and helpful online. Consistency and kindness tend to yield more benefits than aggressive self-promotion.
The Art of Landing Lucrative House Sitting Gigs
Crafting Your Pitch: Stand Out in Your Application
When it comes to landing that house sitting gig, the application you submit is your golden ticket. Crafting a pitch-perfect application can set you apart from the crowd. Here’s how you can ensure your application shines:
Tailor Your Message: Show you’ve read the listing by referencing specifics—like the pet’s names and unique home features.
Highlight Relevant Skills: If they have a garden that needs tending, mention your green thumb. Got experience with exotic pets? That’s worth noting, too.
Strike a Balance: Be professional yet personable. Show your personality and expertise, but keep it clear that you’re serious about their needs.
Prompt Replies: From the initial application to follow-up communications, respond promptly to show you’re attentive and eager.
Ask Intelligent Questions: Clarify any uncertainties and show genuine interest in the specifics of the house sit.
Above all, remember that your application is a reflection of you. Make every word count, and let your dedication to being an exceptional house sitter be evident.
Negotiating Payment: Tips for Reaching an Agreement
Negotiating payment is a nuanced art, especially in house sitting where assignments can vary widely. Here’s a cheat sheet to navigate the payment conversation gracefully and effectively:
Research Rates: Know the going rate for similar housesitting services in the area. According to Care.com, most housesitting gigs pay between $50-100 per day. Obviously, location, price of the home, and job details can fluctuate this amount. 1
Assess Value: Estimate the value you provide, taking into account any additional responsibilities like pet care or gardening.
Open Dialogue: Initiate the conversation on payment terms confidently but diplomatically.
Be Transparent: Clearly articulate what your rate includes and be open about any potential extra charges.
Flexibility: Be prepared to negotiate and find a middle ground that respects your worth while accommodating the homeowner’s budget.
Most importantly, remember that your time and services are valuable. A fair agreement is one where both parties feel respected and satisfied. Don’t forget you will be earning 1099 income, so account for taxes!
Essential Skills and Knowledge for Professional House Sitters
Understanding the Responsibilities of a House Sitter
Embracing the role of a house sitter means stepping into a realm of varied and significant responsibilities. You’re not just occupying a space; you’re safeguarding a home and all it encompasses. Here’s what’s typically expected:
Maintenance: Keeping the house tidy and overseeing any routine upkeep.
Pet Care: If furry friends are in the mix, feed, walk, and provide the essential company they need.
Garden & Plants: Hydrate indoor plants and possibly manage an outdoor garden.
Security: Perform regular checks, activate alarm systems, and maintain a presence that deters potential intruders.
Emergency Handling: Be ready to address unexpected scenarios, from leaks to power outages.
Understanding these duties is the cornerstone of professional house sitting, ensuring peace of mind for homeowners and a reputable standing for you.
Managing Client Expectations and Providing Exceptional Service
Exceeding a homeowner’s expectations isn’t just about fulfilling a checklist; it’s about delivering comfort and trust through your service. Here’s how to excel in managing client expectations and providing a level of service that gets you invited back time and time again:
Clear Communication: From the start, clarify what services you’ll provide and understand the homeowner’s needs and concerns.
Professionalism: Treat the housesitting assignment with the same dedication and commitment you would any other job.
Attention to Detail: Take note of specific instructions and preferences. Homeowners appreciate when you care for their home as they would.
Regular Updates: Keep homeowners informed about how everything is going, especially regarding their pets’ well-being.
Leave a Positive Lasting Impression: Ensure the home is clean and welcoming upon the homeowners’ return. Maybe even getting fresh flowers for the dining room table on their return.
By managing expectations and delivering exceptional service, you build a reputation that enhances your portfolio and opens doors to new opportunities.
Navigating Legal and Financial Aspects
Setting Smart Pay Preferences and Rates
Determining your pay preferences and setting your rates calls for a strategic blend of self-awareness and market understanding. Here’s how to set intelligent rates that reflect your value:
Self-Evaluation: Consider your level of experience, the range of services you offer, and what sets you apart from others.
Market Research: Look into the average rates for house sittersin your target locations and skill set.
Expenses: Account for any travel or incidental expenses you may incur while house sitting.
Define Your Rates: Set a base rate for standard responsibilities and consider additional fees for extra services such as pet care or extensive gardening.
Be Clear & Upfront: State your rates on your profiles and websites to maintain transparency with potential clients.
Smartly set preferences and rates not only attract serious inquiries but also ensure you are adequately compensated for your commitment and services.
Insurance and Professional Cover Considerations
When stepping into someone’s home as a professional house sitter, it’s crucial to consider the layers of protection both for yourself and the property you’re responsible for.
Here’s what to keep in mind regarding insurance, professional coverage, and house sitting agreement:
Liability Insurance: Protect yourself against claims for damage or accidents that could occur during your stay. This is why many start by using a trusted site like Trusted Housesitters.
Personal Indemnity Insurance: If you’re advising on security or care, this can cover you for the advice provided.
Pet First Aid Certification: Not insurance per se, but it boosts credibility and reassures clients about their pet’s welfare.
Travel Insurance: Ensure it covers you for housesitting activities abroad if you’re traveling for gigs.
Understand Policies: If using platforms like TrustedHousesitters, know what their insurance offerings entail and how they apply to you.
Having the right cover is an investment in your business—it not only gives peace of mind but also enhances trust between you and your clients.
Growing as a Professional House Sitter
Learn From Every Assignment and Feedback
Every house sitting assignment is a classroom of its own. From bespoke routines to diverse pet personalities, each gig is an opportunity to grow professionally.
Reflect on Feedback: After completing a sit, take time to consider any feedback given—both praise and constructive criticism.
Continuous Improvement: Use each assignment to refine your skills, be it pet care, communication, or home maintenance.
Feedback Loop: Encourage homeowners to provide honest feedback to help you enhance service quality further.
Journal Experiences: Keep a detailed journal of your sits, noting what you learned and how you might improve. Plus small details to improve on repeat clients.
Proactive Learning: Seek out resources to bolster areas where feedback suggests there’s room for growth.
By treating each assignment as a learning experience, you not only become more adept at house sitting but also signal to potential clients that you’re committed to excellence.
Stay Informed and Adaptive to Industry Trends
The house sitting industry is alive with evolution, influenced by changing homeowner preferences, technological advancements, and a shifting global landscape. Staying ahead means being both informed and adaptable. Here’s how you can keep pace with the industry trends:
Market Research: Regularly check industry reports, surveys, and forums for the latest changes in house sitting rates and homeowner expectations.
Adapt Services: Be prepared to adjust your service offerings in response to new demands, such as smart home technology management or eco-friendly home care practices.
Embrace Technology: Utilize new apps and digital tools designed for house sitters to streamline bookings, client communications, and task management.
Professional Development: Attend workshops, webinars, or conferences focused on house sitting to expand your knowledge and network.
Growth Mindset: Treat every new trend or change as an opportunity to learn and expand your business to new markets and opportunities.
By embracing a commitment to continuous learning and flexibility, you position yourself at the forefront of the house sitting industry.
FAQs About Making Money Through House Sitting
Yes, it’s possible to earn a living exclusively from housesitting.
While it may require dedication to build a client base and can vary by location, those with strong reputations can find continuous opportunities. Diversifying services and locations can aid in maintaining a steady income.
For short-term house sitting gigs, rates may be higher due to the convenience factor for homeowners. In contrast, long-term sits may attract lower daily rates but offer steadier work.
Emphasize the value provided and seek a fair agreement that reflects the length and complexity of the job.
Unexpected costs in house sitting can arise, such as expenses for transportation, utilities, or emergencies. Clear agreements with homeowners about who covers these costs are crucial.
Always have a contingency plan and discuss potential unforeseen expenses in advance.
Ready to Start House Sitting as a Job?
In conclusion, venturing into the world of house sitting can be an exceptionally rewarding endeavor, offering you the unparalleled opportunity to explore new places while ensuring homeowners’ peace of mind.
House sitting is more than just a job; it’s a lifestyle that allows for flexibility, adventure, and personal growth.
By signing up with TrustedHousesitters, you’re not only stepping into a hub of global house-sitting opportunities. You’re also choosing a platform renowned for its extensive listings and high trust level among the community.
Recognized as the world’s largest site for house sitting, TrustedHousesitters connects you with a wide array of homeowners across the UK, Europe, North America, and Australia, broadening your horizons and making the small annual membership fee a worthwhile investment in your new house-sitting career.
With your enthusiasm, thoughtful profile, and personalized approach to each application, you are setting yourself up for success. Your open availability is a prime time to make money.
So why wait? Sign up, create your profile, and get ready to embark on your house-sitting journey with TrustedHousesitters today!
House sitting as a full-time lifestyle
Whether you’re a digital nomad, in between jobs or studies, retired, or simply looking for a break from the norm, long stay house sitting could be for you.
Make money and travel the world. Sounds like a good deal, right?
Get Started
Source
Care.com. “House sitting rates: How to determine fair pay every time.” https://www.care.com/c/house-sitting-rates/. Accessed March 7, 2024.
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Do you want to make money from your phone? I have been making money from my phone for many years now, and it’s a great way to make extra income or even a full-time income! Your phone can help you make money in many ways too. You can sell things you don’t need or use…
Do you want to make money from your phone?
I have been making money from my phone for many years now, and it’s a great way to make extra income or even a full-time income!
Your phone can help you make money in many ways too. You can sell things you don’t need or use your skills on freelance platforms. Answering surveys, selling photos, or being a virtual friend can also make you money, all from wherever you are comfortable.
Best Ways To Make Money From Your Phone
Below are the best ways to make money from your phone.
1. Answer surveys
You can earn money with your phone by answering surveys. Companies pay for your opinion, and you can do this whenever you have free time, such as when you’re just sitting on the couch watching TV with your phone in your hand.
Surveys are like a bunch of questions that companies ask to find out what you like or what you think about something. They might ask about the food you eat, the games you play, or even about your shopping habits.
You answer these questions, and in return, they give you money, points, or free gift cards (such as free Amazon gift cards) as a way to thank you for your time.
Some of the paid online survey companies I recommend are:
Here are 11 Paid Online Survey Sites if you want to learn more.
I have done many paid surveys over the years, and I love how I can answer them right from my phone and whenever I want. I can answer them while watching a video, during a lunch break, before or after work, and more.
2. Sell photos
You can use your phone to take pictures and make money. Selling stock photos is a fun way to make money through passive income without actively working for it.
Not all photographers need a fancy camera to start. Your phone can work perfectly and the newest smartphones can take great, high-quality photos. My phone can take great pictures and it wasn’t super expensive – it’s just a normal Android phone.
With stock photography, you can upload pictures you’ve taken with your camera or phone to a platform like Depositphotos. When someone buys one of your photos, you earn a commission.
Websites, companies, and blogs use stock photos for many reasons. Businesses use them to improve their content, websites, or overall appearance when they might not have the time to take all the photos they need.
I personally often use stock photos in my blog posts, and I know many others who do too. The pictures throughout this article (yes, the one that you are reading) are all stock photos.
Stock photography includes pictures of things such as:
Travel and landscapes
Business and finance, like laptops, offices, and people working
Family, such as parents and children
Household items, such as a living room and kitchen
Animals, such as pets and wildlife
Vehicles like cars and boats
Health and wellness, such as fitness-related images, healthy food, someone working out
Sports, from professional events to casual games
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
3. Instacart Shopper
Making money through your phone is possible with grocery and food delivery apps like Instacart. As an Instacart Shopper, you get paid to shop for groceries and deliver them to people who order online.
Getting groceries delivered is a service that lots of people are using more and more. I’ve used it a few times when I didn’t have time to go shopping or didn’t have a car.
With this job, you have the freedom to make your own schedule, and you can get paid pretty fast – sometimes the same day.
Delivering groceries is a popular side job, and all you need is a valid driver’s license, a car, and your cell phone.
You earn money for each delivery and get to keep all your tips. Platforms like Instacart and Shipt can help you make around $15 to $20 per hour.
Learn more at Instacart Shopper Review: How much do Instacart Shoppers earn?
4. JustAnswer
JustAnswer is a site where you can make money by using your phone to help others. If you have skills or knowledge in a particular area, you can answer questions and earn cash.
JustAnswer states that you can make $2,000 to $7,000 a month as an expert answering questions online on their site.
People ask questions, and the site matches them with an expert who can answer. For example, someone might ask how to change their oil or why their cat is sick. As an expert, you’ll be answering questions and giving personalized help through text chat.
There are experts in fields like mechanics, doctors, lawyers, veterinarians, home experts, appraisers, computer and tech experts, and more.
You can work whenever you want from your computer or cell phone, and you get to choose which questions you want to answer.
To get started, apply online on JustAnswer. They’ll verify your credentials (every expert on this platform is verified by a third party and needs to have licenses, education, or employment in their field of expertise). Once approved, you’ll have a quick meeting with the JustAnswer team to learn how to use the platform.
It takes about one week to become verified, and you can receive payments through direct deposit, PayPal, or Venmo.
Recommended reading: 28 Ways To Get Paid To Text
5. DoorDash
When you want to make money with your phone, DoorDash is one way you can do that. DoorDash is a gig app where you deliver food to people.
Working with DoorDash means you’re part of the gig economy, delivering restaurant meals to customers. You have the flexibility to pick your hours and decide when and where you want to work.
Depending on your location, you can deliver food with a car or by bike.
The app is your main tool for the job, and it shows you your orders, where to go, and how to get there.
Your earnings depend on each delivery. You can make $2 to $10 or more, plus tips.
Please click here to sign up for DoorDash.
6. Fiverr
Fiverr is a way to make money from your phone as it’s an online platform where people do all sorts of online work, like writing, designing, or making videos.
Some services you can sell to make money from your phone include:
Chat support customer service – Manage customer service for a business as a freelancer.
Social media posting assistant – Help clients schedule and post content on their social media platforms, such as Instagram and Facebook.
Virtual fitness coaching – You can give fitness coaching sessions or create personalized workout plans from your phone.
Online language lessons – Teach language lessons through video calls or voice messages.
Life coaching – Share motivational messages, life advice, or coaching sessions through your phone, such as in phone calls or texts.
Mobile app testing – Test and give feedback on mobile apps for developers.
When someone buys your service from your listing, they pay Fiverr. Fiverr takes 20%, and you receive 80% of the funds after a 14-day pending period.
Another popular platform somewhat similar to Fiverr for freelancers is Upwork.
7. RentAFriend
If you’re looking to make money from your phone, RentAFriend could be an interesting choice. This platform allows you to get paid for being a friend.
As a RentAFriend, you might respond to text messages and have phone conversations with the person. You can be a friend in person, over video chat, or through text messages, depending on your preference.
With RentAFriend, you set your own hours and the price for your time. Earnings can range from $10 to $50 per hour, depending on what you decide.
Here’s how it works:
Sign up on the RentAFriend website.
Create a profile that shows who you are and what kinds of activities you enjoy.
Once your profile is live, people can find you and request your friendship services.
People join this site to find a friend and someone to talk to, and that’s where you come in.
8. Papa app
Papa is a website where you can chat with older adults, help them around their house and with shopping, and more.
You’re simply giving them some extra support with their day-to-day tasks, and you can earn money right from your phone for some of these tasks.
As a Papa Pal, you get to set your own schedule. The amount you can earn per hour varies depending on your location.
9. BetterHelp therapist
If you’re a licensed therapist, you might like making money using your phone with BetterHelp. BetterHelp is an online platform where therapists help people.
You can work with clients by chatting, phone calls, or video calls. You’ll need good internet and a private place to talk.
As a therapist on BetterHelp, estimated earnings are around $100,000 per year for working 40 hours per week. You can also work part-time at around 5 to 15 hours per week and earn around $8,000 to $27,000 each year.
To join, they require at least 3 years of experience in therapy for adults, couples, or teens.
10. Play games on your phone
There are many money making apps where you can get paid to play games on your phone.
Game apps pay real money rewards because they earn money through ads and in-app purchases. To motivate you to keep playing their games, they share a portion of their earnings with you.
Here’s a quick list of the top game apps that pay real cash:
KashKick
Swagbucks
InboxDollars
When selecting gaming apps to make money, it’s important to check reviews and understand how you receive your earnings. Be cautious with apps that require payment to play or promise rewards that seem too good to be true. Also, keep track of the time you spend playing games to make sure it is worth it.
Recommended reading: 23 Best Game Apps To Win Real Money
11. User Testing
UserTesting is a way you can make money by trying out websites and apps. Companies will pay you for your honest thoughts on how easy they are to use.
To participate in tests, you’ll need a computer or a smartphone, an internet connection, and a microphone. Some tests may also require a webcam.
When you test websites, you look out for things that don’t work well or can be confusing. Your feedback helps companies improve as they want real opinions, not just quick answers.
Here’s how it works:
Sign up with a user testing site.
They’ll give you tasks, like finding something on a website. Most tests take about 15 to 20 minutes.
You record your screen and talk about what you’re thinking.
After you’re done, you send your feedback.
You get paid! You could earn around $10 per test.
Payments are usually made through online services like PayPal.
I have personally paid someone to do a UserTesting review on this site, Making Sense of Cents. It’s a great way to see what a stranger thinks of your website and they gave me tons of helpful tips and let me know what changes I should make to make my website better for readers.
12. Sell used items online
If you have stuff you don’t use anymore, selling it online can be a smart way to make some money. Your old phones, clothes, games, and books could be worth something to someone else.
And, you can do all of this right from your cell phone!
Whether you have old things around your home that you want to sell or if you want to start a reselling business, there are many apps that make it easy to sell stuff right from your phone.
Some of the best selling apps are Poshmark for clothing, Worthy for jewelry, Facebook Marketplace for local sales, and Decluttr for electronics.
I have personally sold many items over the years on various sites to make extra income. At one point, I even had a small reselling business. So, I understand firsthand how helpful these sites and apps can be!
13. Sell your data
You can earn money from your phone by selling your data through apps. These apps pay you for the data you don’t use. You might be concerned about safety, but in most cases, it is safe.
These apps usually operate in the background, helping companies understand how people use the internet. Data apps aren’t full-time jobs and you won’t get rich from them, but they can be easy side gigs.
Honeygain is one app where you can earn cash, and you get paid for data you’re not using. You just install the app, and it runs without you doing anything extra.
You receive payment based on the amount of traffic passing through your connection, with Honeygain paying $1 for every 10 GB of traffic.
14. Instagrammer
If you love sharing photos and videos, Instagram can be a great way for you to make some extra money with your social media accounts.
I have made income from Instagram over the years, and while it’s not my full-time income, it is a fun way to make money from my phone.
This is because you can start an Instagram on whatever niche you want, such as fitness, travel, fashion, family, and more. So, you may be able to have a lot of fun managing and growing your social media account.
Then, you’ll want to make sure you regularly share high-quality content, use relevant tags, post reels, and interact with your audience to steadily increase your follower count.
15. Get paid to walk
You can actually make money just by walking! There are apps that track your steps and reward you for staying active. You can download these to your phone, start walking, and watch your steps turn into rewards.
Sweatcoin is one app you might like. If you’re over 13 and have a smartphone, you can join. It changes your walking into points that you can use. You can get stuff like gift cards or even support charities.
Getting paid is easy:
Join an app – Sign up for an app that fits you.
Walk and collect – Carry your phone and collect points as you walk.
Earn rewards – Swap your points for things like money to PayPal or cool products.
Some apps might hook up to a fitness tracker. This way, if your phone isn’t with you, you won’t miss out on any steps.
Frequently Asked Questions
Below are answers to common questions about how to make money from your phone.
How can I use my phone to make money?
You can make money on your phone by selling things you no longer need on apps like Decluttr or through your own store on platforms like Shopify. You could also complete online surveys, sign up for market research, or perform tasks on gig economy apps.
How can I make passive income on my phone?
One way to make passive income from your phone is to sell stock photography. You could take pictures from your phone, and then sell them over and over again online!
How can teenagers earn money using mobile apps?
Teenagers can earn money from their phones in their spare time by taking online surveys, performing tasks, selling products online, or using apps that reward users for maintaining good habits, like staying active.
How can I make $100 a day on my phone?
There are many ways to make $100 a day from your phone, such as selling items online and signing up for gig jobs like Instacart.
What are the quickest ways to make money on your phone?
The fastest ways to make money with your phone include taking surveys, using cash back shopping apps (because you may shop online a lot already!), playing games that have real rewards, and delivering groceries or meals with gig apps.
How can I learn how to make money with my phone without any investment?
There are many ways to make money from your phone for free, such as answering surveys, selling items that you already own (such as old clothing that you no longer wear, CDs, DVDs, or old devices that you don’t use anymore), driving for Uber, delivering groceries with Instacart, and more.
What apps can I use to make money with my phone?
Apps like Instacart, Papa, and Uber are all good ways to make side hustle money with your phone. There are many other ways that I didn’t mention above that are good options, such as Fetch Rewards (scan your receipt from grocery shopping), Acorns (micro-investing app for your spare change), Ibotta (a grocery shopping app), Neighbor (rent out your storage), Lyft (drive others around), TaskRabbit (sell your handyperson services, such as building furniture), OfferUp (selling stuff that you no longer need), and Rakuten (get cash back on your online shopping).
These apps are available on both Google Play stores and the iOS app store.
How To Make Money From Your Phone – Summary
I hope you enjoyed this article on the many ways to make money from your phone.
As you can see from the above, there are many ways to make extra cash from your phone, from part-time gigs to full-time income. Whether you have an Android or Apple phone, there are many ways on the list above that you may want to try out.
What do you think is the best way to make money with a phone?
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We’re in the final hours of Cyber Monday, but you can still deck your halls for the holidays with deals on home decor. Modern wall art or a patterned throw blanket can transform your living room just by adding some texture and color.
You can add wintry flair with a white pampas grass wreath that’s currently 63% off at CB2. Or get creative with your mood lighting and try the hexagonal Nanoleaf shapes: save $50 at Best Buy. For Christmas decorating ideas, we rounded up the best Christmas tree and holiday decor deals. You can also check out the best Cyber Monday furniture deals we’ve found across the internet.
There are still sales on tech, style, kitchen, and more, so we’re keeping our list of the best Cyber Monday deals updated through the end of the sale event.
Up to 50% off sitewide, plus an extra 50% on sale items Etsy: Save up to 60% decor from small businesses and makers H&M Home: 30% off everything Jonathan Adler: Up to 40% off sitewide Nordstrom: Up to 60% off throws, candles, bedding and more One Kings Lane: Up to 50% off plus an extra 15% off orders over $700 with 15CYBER Society6: Up to 70% of posters, minis and framed prints Target: Up to 40% off various home decor Urban Outfitters: 40% off sitewide Wayfair: Up to 60% off seasonal decor West Elm: Up to 70% off decor and furniture World Market: Save up to 30% on furniture and decor
Best Cyber Monday home decor deals
Anthropologie Rosalita Switch Plate
Anthropologie has some of the most detailed and lovely little switch plates, like these that add whimsy and cottage core vibes to even the simplest rental space. During Cyber Monday, you can take 30% off whether you need a single toggle switch or an outlet cover.
USTIDE Sunflower Rug Mat
A bold area rug adds color and warms up any room. This polyester microfiber rug comes with a non-slip backing. Get the all-time-low price on yellow, pink, and teal patterns.
The White Company Midnight Large Candle
This three-week candle has scent layers of vetivert, cardamom, and amber. The minimalist design and warming aromas will fit in with any decor. If the regular price seems steep for a candle, the current discount of over half off makes it more reasonable.
Frontgate Luxury Faux Fur Throw
Luscious and realistic-looking, the Frontgate Luxury Faux Fur Throws are a mix of modacrylic and polyester with a velvet polyester back. Varieties include Arctic hare, coyote, chinchilla, timberwolf, and lynx. The 50 by 70-inch blanket is $60 for Cyber Monday.
CB2 36-Inch Faux Ivory Pampas Grass Wreath
This fluffy, white wreath isn’t just for the holidays. The elegant pampas grass lends a winter accent to any room of the house. During Cyber Monday, you can get it for over half off.
Barefoot Dreams CozyChic™ Stripe Throw Blanket
Barefoot Dream’s CozyChic throws are a well-documented celebrity favorite. These soft and timeless blankets cozy up any corner. At over 65% off, this is a savings you’re not going to find anywhere else.
Capri Blue Blue Jean Faceted Jar
This candle combines citrus, white musk, and patchouli for a relaxing fragrance. The faceted lavender glass holder will add a hint of color to white bathrooms. The current 20% off is a deal we see often, but still a good one.
Nanoleaf Shapes (Hexagon)
Featuring a modular design, vibrant colors, and easy smart-home integration, the Nanoleaf Shapes system is fun and functional decor. Best Buy is offering 25% off during Cyber Monday: let this sale (and system) light up your home.
Pottery Barn Curtain Rain String Lights
Available in gold or silver, this curtain rain string light spans 72 inches wide and 72 inches long. Use it to add sparkle indoor or outdoor; just make sure to avoid contact with water. Take 25% off the usual price right now.
The Sill ZZ plant
The ZZ plant (Zamioculcas zamifolia) is one of the toughest indoor houseplants and can survive even the most difficult situations, such as long periods without water. It’s just $51 during The Sill’s Cyber Monday sale event.
Lumens Adesso Lighting Bowery Arc Floor Lamp
If you’re looking to light a small nook or corner in your home the Bowery Arc Floor Lamp provides a warm, focused layer of lighting. The curved design of the lamp, as well as its marble base, adds a simple touch of decor. Save 20% on all colors: brushed steel, antique brass, and black.
Pottery Barn Linden Shelf
This modern, arched shelf has a tray base that can display several bathroom accessories and decorative objects. It can even be a convenient place to hold your phone while you shower. The antique bronze model is 30% off.
Ohad Modular Wood Wall Art
Not your average wall art. This modular piece is both cozy and contemporary, and it’s currently 30% off.
H&M Metal Candelabra
This gold candelabra makes for a gorgeous centerpiece, and it’s 70% off. Top with your favorite taper candles.
Korniful Tabletop Fire Pit
Bring holiday cheer indoors with this tabletop fireplace perfect for roasting chestnuts on an open fire (roasting sticks included). You can buy fuel separately to create a smokeless and odorless flame that adds instant ambiance.
Jaclyn Turner
Senior Home Editor
Jaclyn Turner is Senior Home Editor at Business Insider Reviews, where she oversees home content, reviews, and guides spanning mattresses to vacuums, organization to smart homes, and more. However, she has a particularly soft spot for decor and interior decorating. Product recommendations and deal spotting run in her blood, and Jaclyn takes great pride in showcasing the best of what’s out there to make finding great products for your home and life a little bit easier. She joined the Business Insider team in October 2023. Jaclyn previously held editorial and e-commerce roles with Homes & Gardens, Real Homes, Livingetc, The Spruce, MyDomaine, and Apartment Therapy. Jaclyn received a dual bachelor of arts in Journalism and American Studies at the University of Maryland, College Park. Jaclyn currently resides in Atlanta, GA, with her Cavapoo. When she’s not working, you can find her perusing the aisles of Homegoods, scrolling TikTok for too long, and trying out local Atlanta restaurants. Connect with Jaclyn at [email protected] or give her a follow on Instagram @jaclynturnerLearn more about how our team of experts tests and reviews products at Insider here.
Lily Alig
Editor, Home and Kitchen
Lily Alig is an editor on the Business Insider Reviews team, covering the home and kitchen verticals. She helps run the kitchen section, working with in-house and freelance writers to build out coverage of small appliances, kitchen tools, and gourmet food.Since joining Business Insider as a fellow in August 2020, Lily spent a year and a half as a full-time reporter before becoming an editor. As a writer, she spoke with independent spice houses and professional chefs, as well as tested products by making 50 waffles in one day and searing 7 steaks in a week. In her role as editor, Lily tracks stories from pitch to publish, maintains the kitchen publishing calendar, and edits every story for copy and content.Lily is an avid home cook and baker, so she knows what consumers are looking for in kitchenware products. After work, you can find her watching sports, reading fantasy novels, and finding new recipes to try.Reach out to Lily at [email protected]. Learn more about how our team of experts tests and reviews products at Insider here.Learn more about how we test kitchen products.
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?